Document:

exv10w3

 

Exhibit 10.3

Portions of this exhibit have been omitted and filed separately pursuant to an application for
confidential treatment filed with the Securities and Exchange Commission pursuant to Rule 24b-2
under the Securities Exchange Act of 1934, as amended.

Omissions are designated as [****].

Master Station License Agreement to Receive and Use

Arbitron Radio Audience Estimates

Date of Proposal: May 4, 2006               

THIS AGREEMENT is between Arbitron Inc., a Delaware corporation (“Arbitron”), and the
undersigned radio broadcaster (“Station”), a
Delaware                                         corporation.
Arbitron hereby grants to Station, for the radio station(s) listed below, a limited license or, in
case of certain programs licensed to Arbitron, a sublicense, to receive and use the Arbitron
audience estimates and data (“Arbitron Data” or “Data”) contained in Arbitron’s reports for surveys
designated on Agreement Attachments for geographic area (“Market”) provided hereunder (“Reports”)
and/or the computer software programs (“Systems”) designated on Agreement Attachments, collectively
such Data and/or Reports and/or Systems to be referred to as “Services.” Such Services shall be
designated on the Agreement Attachments, which Attachments are hereby incorporated by reference as
if fully set forth herein. It is further agreed by the parties hereto that this license and
Agreement shall be effective and applicable to any Services that are later licensed by Station
pursuant to Section 15(e) of this Agreement and/or pursuant to any additional Agreement Attachment
executed by the parties hereto. Arbitron may furnish such Services to Station in printed,
electronic or other form, at Arbitron’s option, either directly or through authorized third
parties, but title thereto shall remain with Arbitron at all times.

1. Services Provided; Term: This Agreement will become effective when
countersigned by Arbitron’s Contract Manager.

The Term of this license and Agreement shall begin on
*See Sched A                     and run concurrently with each Agreement
Attachment executed by the parties hereto until the expiration date set
forth on such Agreement Attachment or until *See Sched A                    
whichever date occurs first. The Term for each Service provided is set forth in each such
Agreement Attachment This Agreement will continue without regard to Station’s ownership of the
radio station(s) licensed hereunder absent a valid Assignment pursuant to Section 11 of this
Agreement.

Broadcaster (“Station”): CBS Radio Inc.                                                        

 

For use only by radio station(s): *See Attached Sched. A                              

 

Arbitron Radio Geographic Area (“Market”): *See Sched. A                          

 

Number of surveys currently provided during first Term year: *                    .

Reports currently

licensed hereunder: X Spring X Fall X Winter X Summer

First Report: *                                                                                               

All representations in this Section regarding number of surveys and Report titles are subject to
qualifications set forth in Section 6(a) herein.

2. Annual Rate:

A License Charge in the form of a Net Annual Rate for each year of the Term, which may be
subject to adjustments and discounts pursuant to Sections 3, 4, 6, and 11 of this Agreement,
shall be paid by Station
with the first of *                     payments (the “Periodic Charge” or “Charge”)
due on Upon Receipt                                        .

The Gross Annual Rate for the first Term year is $*                    .

For each succeeding Term year, the Gross Annual Rate shall be the Gross Annual Rate for the
previous Term year increased by a factor of [****] percent. Any applicable discounts or other adjustments will be
applied thereafter to the Gross Annual Rate so derived.

3. Discounts for the Radio Market Report:

(a) Continuous Service Discount: A discount of ten percent (10%) in

calculating the Periodic
Charge applicable to the Radio Market Report only shall be allowed for each month in excess of
twelve (12) consecutive months that Station is continuously licensed to use the Arbitron Radio
Market Report for this Market, provided that such discount shall no longer apply if Station fails
to sign and return this Agreement to Arbitron within forty-five (45) days after the termination of
a prior Arbitron radio listening estimates License Agreement.

(b) Group Discount: If Station owns two or more radio stations located in different markets and
such radio stations are under common ownership as defined by Arbitron, Station may be entitled to a
Group Discount based on the number of subscribing radio stations owned at the time this Agreement
is executed, which discount may vary and be adjusted during the Term of this Agreement in
accordance with Arbitron’s Group Discount Schedule should the number of subscribing commonly owned
radio stations change.

(c) Long-Term Discount: A discount of

	 	 	 	 	 
	 

	 	[****]% in months 1-12,
	 	[****]% in months 13-24,
	 

	 	[****]% in months 25-36,
	 	[****]% in months 37-48,
	 

	 	[****]% in months 49-60,
	 	[****]% in months 61-72,
	 

	 	[****]% in months 73-84	 	 

shall be allowed in calculating the Net Annual Rate charged during the applicable months.

4. Periodic Charge; Taxes: The Periodic Charge, due and payable by Station on the first
day of each billing period, shall be: (a) the Gross Annual Rate plus any adjustments; (b) less any
applicable Continuous Service Discount; (c) less, from the amount thereby derived, any applicable
Group Discount; (d) less, from the amount thereby derived, any applicable Long-Term Discount; (e)
with such amount prorated equally between the number of payments for the Term year.

In addition to and together with the above payments, Station shall pay to Arbitron any sales,
excise, gross-receipts, service, use or other taxes, however designated, now or hereafter imposed
upon or required to be collected by Arbitron by any authority having jurisdiction over the Market
being surveyed or over any location to which Station directs Arbitron to deliver Data, or by any
other taxing jurisdiction.

5. Late Payment Charge and Right to Suspend Report Delivery or Terminate License:

(a) A late payment charge of one and one-half percent (1.5%) per month will be charged on all
Periodic Charges, as adjusted, which are not paid within 60 days after due hereunder, but in no
event will the applicable per-month late payment charge exceed one-twelfth of the maximum annual
percentage allowed to be charged by applicable state usury law. Any failure to impose a late
payment charge shall not prejudice Arbitron’s right to do so should the default continue or should
a subsequent payment not be made when due.

(b) In the event Station is in default in its payment obligations hereunder, and in addition to
Arbitron’s right to impose a late payment charge, Arbitron may, with respect to this Agreement
and/or any other agreement for Station’s use of services licensed by Arbitron in this Market or an
adjacent market, and without terminating, breaching or
committing a default under this Agreement or such other agreements: (i) accelerate or modify in any
way the payment schedule of Periodic Charges for the duration of this Agreement or such other
agreement(s) to a number of installments to be determined by Arbitron in its discretion; and/or
(ii) suspend delivery to Station of any Data or Report(s), in any form, which are due until such
time as Station is current in its payments of all sums due; and/or (iii) send Station written
notice that Station’s license hereunder is suspended, in which case

					
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Station further expressly
agrees that it thereafter shall not use Data and/or Reports previously received by Station until
such time as Station becomes current in its payments of all sums due for services licensed by
Arbitron. Acceleration or other modification of the payment schedule by Arbitron under this
provision shall not be deemed or considered a penalty but rather represents a good faith effort to
quantify as of the time of the execution of this Agreement the harm that would be sustained by
Arbitron in the event Station defaults on its payment obligations hereunder.

(c) In the event Station is in default in its payment obligations under this Agreement or under any
other agreement for Station’s use of services licensed by Arbitron in this Market or an adjacent
market, then Arbitron may exercise any or all of its rights set forth in Section 5(b) of this
Section 5 with respect to any such agreement entered into with Arbitron by Station or any of
Station’s affiliated, subsidiary or related corporations or entities regardless of whether such
other agreements are in default. For purposes of this Section 5(c), a corporation or entity shall
be deemed to be affiliated with or related to Station if (i) such corporation or entity owns or
controls more than a fifty percent (50%) interest in Station and/or it enters or has entered into
any management agreement, joint operating agreement or other business relationship with Station; or
(ii) Station owns or controls more than a fifty percent (50%) interest in such corporation or
entity and/or it enters or has entered into any management agreement, joint operating agreement or
other business relationship with such corporation or entity; or (iii) a third party owns or
controls more than a fifty percent (50%) interest in, and/or enters or has entered into, any
management agreement, joint operating agreement or other business relationship with both Station
and such corporation or entity.

(d) Arbitron’s suspension hereunder of delivery of Data and/or Reports and/or Systems to Station,
and of this License, shall not relieve Station of any of its obligations hereunder. Station further
agrees to reimburse Arbitron for all collection costs and expenses (including reasonable attorneys’
fees) incurred hereunder. This license may be terminated immediately by Arbitron should Station or
its station(s) default in payment of any sum due or should Station or its station(s) default in any
other condition or obligation of this Agreement and/or any other agreement for Station’s use of
services licensed by Arbitron.

6. Changes in Service; Modification of Rates:

(a) Arbitron reserves the right to change at any time the geographical territory comprising any
Market, its policies and procedures, survey dates, survey length, survey frequency, sampling
procedures, delivery schedules, methodology, method of Data or Report collection or delivery,
provision of printed copies of Reports, Report content, Report titles, Report format, or any other
aspect of the Data and Reports provided hereunder, and to cancel surveys and the preparation of
Arbitron Data and Reports or any other aspect of the Data services provided.

Arbitron reserves the right not to publish any Data or Reports whenever, in its judgment,
insufficient data are available to meet its minimum research standards or any event has jeopardized
the reliability of the data. In the event that Data and/or Reports are not published, Station shall
receive a credit reflecting the pro rata value of the Net Annual Rate for said Data and/or
Report(s). Without limiting the foregoing, Station expressly understands and agrees that Arbitron
may, at any time during the Term of this Agreement, reduce the number of surveys conducted and/or
Reports published for any Market and consequently reduce the number of Reports provided to Station
and that, in the event such reduction occurs, Station is not relieved of any of its obligations
under this Agreement.

(b) In the event that any cause(s) prevents Arbitron from conducting any survey in accordance with
its methodology, schedules or other publications, Arbitron reserves the right to publish
abbreviated Report(s). Station hereby consents to publication of such abbreviated Report(s) under
such circumstances. In the event that such an abbreviated Report covers a substantially decreased
geographic area, or deletes twenty-five percent (25%) or more of the survey days from the

aggregate
number of days scheduled, Station shall be entitled to either a proportionate credit for the
abbreviated Report, or, upon written certification that all copies of such abbreviated report have
been destroyed and that Station will not use such abbreviated report within 10 days, a full credit
for the abbreviated Report, at Station’s option, provided however, that if Station elects to return
an abbreviated Report for full credit, Station shall no longer be licensed to use that Report
during the remainder of the Term of this Agreement. Further, Arbitron reserves the right in its
sole discretion to augment available data by means of expanded or extended samples and Station
agrees it shall not be entitled to any credit in such event.

(c) Arbitron may increase the Gross Annual Rate hereunder at any time. If Arbitron increases the
Rate for a reason other than as permitted elsewhere in this Agreement, it shall give prior written
notice to Station. Station may, within a 30-day period following such notice, cancel the unexpired
Term of the Agreement for only the Data and/or Reports and/or services and Market for which
Arbitron has increased its Rate pursuant to such notice, by written notice pursuant to Section
15(a), without cancellation charge or other cost, effective on the date the new Gross Annual Rate
would have become effective. In the absence of such timely cancellation, this Agreement shall
continue and the new Gross Annual Rate shall become payable as stated in Arbitron’s notice and
thereafter.

7. Permitted Uses and Confidentiality: Subject to the restrictions stated herein and to
the permitted uses set forth in Arbitron’s publication entitled Working with Arbitron’s Copyrighted
Estimates available to all Arbitron licensees and posted on Arbitron’s Web site at
www.arbitron.com, Station agrees to limit its uses of the Arbitron Data and Report(s) to its
programming and media selling. Station understands and agrees that this use is limited exclusively
to the radio station(s) specified in Section 1 of this Agreement and only for the Term of this
Agreement. In this connection, Station agrees that the Arbitron Data and/or Report(s) will only be
disclosed:

(a) directly or through its Station representatives to advertisers, prospective advertisers and
their agencies for the purpose of obtaining and retaining advertising accounts; and

(b) through advertising or other promotional literature as permitted hereunder.

All such disclosures shall identify Arbitron as the source of the disclosed Arbitron Data
and/or Report(s) and should identify the Market, survey period and type of audience estimate,
daypart and survey area and shall state that the Arbitron Data and/or Report(s) quoted therein are
copyrighted by Arbitron and are subject to all limitations and qualifications disclosed in the Data
and/or Report(s) (“Sourcing”).*  At all times during the Term of this Agreement and
thereafter, Station agrees to keep the Arbitron Data and/or Report(s) confidential and not to
disclose the same except as permitted by this Agreement. Station agrees to use its best efforts to
prevent the unauthorized disclosure of Arbitron Data and/or Report(s) by Station’s employees and/or
its radio station(s)’s employees and agents, by its radio station(s)’s representatives, by its
advertisers and their advertising agencies, by data processing firms, and by all other persons who
obtain the Arbitron Data and/or Reports from Station or its radio station(s)’s employees or agents.
For Station or its radio station(s) to divulge any Arbitron Data and/or Report(s) to a
nonsubscribing station or to lend and/or give an original copy or any reproduction of any part of
any Data and/or Report(s) or any Arbitron Data and/or Reports to any person or
entity not authorized by this Agreement constitutes a breach of this Agreement and an infringement
of Arbitron’s copyright.

In the event that a Report listed in Section 1 of this Agreement is delivered after the expiration
of the Term of this Agreement, Station’s license to use that Report shall continue under the terms
and conditions of this Agreement until the earlier of: (i) the release of the next survey

 

			
	*	 	Station(s) should refer to current regulations
and guidelines of the federal government for further requirements concerning
the manner of quoting audience estimates.

					
	 	 	 	 	 
	 
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Report in
the applicable licensed Market, or (ii) 6 months after such report’s release.

Station may authorize a third party to process the Data licensed hereunder on Station’s behalf,
provided: (1) that said third party is a then current Arbitron licensee in good standing who is
authorized to process the Data and (2) that all restrictions concerning the use of the Data
provided under this Agreement shall apply with full force and effect to any data, estimates,
reports or other output, in any form, containing or derived from the Data, produced by said third
party for Station.

8. Confidentiality of Arbitron Respondents: Station agrees that it will not try either
before, during or after a survey, or in connection with any litigation, to determine or discover
the identity or location of any Arbitron survey participant. Station will under no circumstances
directly or indirectly attempt to contact any such persons. Station agrees to promptly report to
Arbitron any evidence or indication that has come to Station’s attention regarding the identity or
location of any such persons. Station agrees to abide by Minimum Standard A9 (or any successor
provision concerning confidentiality of survey respondents) of the Media Rating Council and shall
abide by any determination of the Media Rating Council concerning respondent confidentiality.
Station further agrees that Arbitron may enjoin any breach of the above-stated obligations and
shall have the right to damages or other remedies (including costs, expenses and reasonable
attorneys’ fees) available to it at law or hereunder.

9. Methodology: ARBITRON MAKES NO WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, INCLUDING
WITHOUT LIMITATION ANY WARRANTY OF MERCHANTABILITY OR FITNESS, CONCERNING THE SERVICES PROVIDED
HEREUNDER, INCLDUING BUT NOT LIMITED TO:

(A) DATA GATHERED OR OBTAINED BY ARBITRON FROM ANY SOURCE;

(B) THE PRESENT OR FUTURE METHODOLOGY EMPLOYED BY ARBITRON IN PRODUCING ARBITRON DATA AND/OR
REPORT(S) AND/OR SERVICES; OR

(C) THE ARBITRON DATA AND/OR REPORT(S) AND/OR SERVICES LICENSED HEREUNDER.

ALL ARBITRON DATA AND/OR REPORT(S) REPRESENT ONLY THE OPINION OF ARBITRON. RELIANCE THEREON AND USE
THEREOF BY STATION IS AT STATION’S OWN RISK.

THE SYSTEMS PROVIDED HEREUNDER ARE PROVIDED TO LICENSEE “AS IS – WHERE IS” AND RELIANCE THEREON AND
USE THEREOF BY LICENSEE IS AT LICENSEE’S OWN RISK.

IN NO EVENT SHALL ARBITRON BE LIABLE FOR THE FAILURE OF ANY THIRD PARTY TO PROVIDE ANY DATA OR
SERVICES FOR USE IN CONNECTION WITH THE DATA, REPORTS, SYSTEMS AND/OR SERVICES LICENSED HEREUNDER.

10. Liabilities and Limitations of Remedies: THE SOLE AND EXCLUSIVE
REMEDY, AT LAW OR IN EQUITY, FOR ARBITRON’S AND/OR ANY THIRD PARTY DATA AND/OR SERVICE PROVIDER’S
BREACH OF ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF
MERCHANTABILITY OR FITNESS, AND THE SOLE AND EXCLUSIVE REMEDY FOR ARBITRON’S AND/OR ANY THIRD PARTY
DATA AND/OR SERVICE PROVIDER’S LIABILITY OF ANY KIND, INCLUDING WITHOUT LIMITATION LIABILITY FOR
NEGLIGENCE OR DELAY WITH
RESPECT TO THE ARBITRON DATA AND/OR REPORTS AND/OR SYSTEMS AND ALL
PERFORMANCE PURSUANT TO THIS AGREEMENT, SHALL BE LIMITED TO A CREDIT TO STATION OF AN AMOUNT EQUAL
TO, AT THE MAXIMUM AMOUNT, THE LICENSE CHARGE PAID BY STATION WHICH IS ATTRIBUTABLE TO THE
MATERIALLY AFFECTED DATA OR REPORT OR SYSTEM. IN NO EVENT SHALL ARBITRON AND/OR ANY THIRD PARTY
DATA AND/OR SERVICE PROVIDER BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES,
NOR SHALL THEY BE SUBJECT TO INJUNCTIVE RELIEF WITH

RESPECT TO THE PUBLICATION OF ANY DATA AND/OR
REPORT OR TO ANY SYSTEM. STATION UNDERSTANDS THAT THE DATA AND/OR REPORTS AND/OR SYSTEM EITHER
WOULD NOT BE PREPARED OR WOULD BE AVAILABLE ONLY AT A SUBSTANTIALLY INCREASED LICENSE CHARGE WERE
IT NOT FOR THE LIMITATIONS OF LIABILITIES AND REMEDIES AS SET FORTH IN THIS SECTION.

Station agrees that it will notify Arbitron in writing of any alleged defect in any Data and/or
Report and/or System within thirty (30) days after Station learns of said alleged defect. In the
event that Station does not timely notify Arbitron, then Station waives all rights with regard to
said alleged defect. Station further agrees that any action to be brought by it concerning any Data
and/or Report and/or System shall be brought not more than one (1) year after such Data or Report
was originally published by Arbitron.

In the event that either party commences litigation against the other party and fails to ultimately
prevail on the merits of such litigation, the commencing party shall reimburse and indemnify the
other party from any and all costs and expenses incurred with respect to such litigation, including
reasonable attorneys’ fees, provided, however, that this sentence shall not apply where Arbitron
commences litigation pursuant to Sections 5, 7 or 8 of this Agreement. This provision shall survive
the termination of this Agreement.

11. Assignments and Changes in Station Status: Station may not assign either its rights
or obligations under this Agreement without the prior written consent of Arbitron. Subject to
Arbitron’s consent, a successor-in-interest by merger, operation of law, assignment, purchase or
otherwise of the entire business of Station shall acquire all rights and be subject to all
obligations of Station hereunder. In the event that Arbitron consents to the assignment of this
Agreement, Arbitron reserves the right to redetermine the rate to be charged to the assignee in
accordance with the terms of this Agreement. Arbitron shall be entitled to assign any of its rights
or obligations under this Agreement, including the right to receive License Charge payable
hereunder.

Station acknowledges and agrees that the License Charge due and the adjustments and discounts
applied hereunder are based on Station’s group ownership status and/or any joint operating
agreement with one or more other radio stations and/or Station’s ownership of radio stations in
this Market or other Markets. In the event Station conveys any one of its radio stations, Station
remains fully obligated for the License Charge specified for any radio station covered by the terms
of this Agreement. Station may only be released from such obligations upon valid assignment of this
Agreement and subject to the terms thereof.

Station agrees that if at any time it changes or has changed its ownership, operating or sales
policy (including the use of digital sub-channels), frequency, broadcasting arrangements, group or
business relationships of the station(s) licensed under this Agreement, or if it enters or has
entered into any management or other business relationship with another radio station in any Market
and/or its adjacent Market(s), or if it enters or has entered into any joint operating agreement
with one or more other radio stations, or if it is or was purchased or controlled by an entity
owning or otherwise controlling other radio stations in any Market and/or its adjacent Market(s),
or if it purchases, or an entity which is in any manner controlled by it purchases, at any time,
another radio station in any Market or its adjacent Market(s), Station and its radio station(s)
will report the change and the effective date thereof to Arbitron within thirty (30) days of such
change. In the event of such occurrence, Station agrees that such station(s) shall be licensed
under this Agreement and that Arbitron may redetermine the Gross Annual Rate for the Data,
Reports, and/or services pursuant to the then current Arbitron rate card in order to license such
additional station(s), effective the first month following the date of the occurrence.
Notwithstanding Station’s failure to notify Arbitron, pursuant to the provisions of this Section
11, Arbitron may redetermine Station’s Gross Annual Rate for all Data, Reports, and/or
services, based on the foregoing, effective the first month following the date of the occurrence.

					
	 	 	 	 	 
	 
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Station further agrees that if the parent company or other controlling entity of Station, or any
entity in any manner related to Station, purchases or otherwise acquires a controlling interest in
a radio station in Station’s Market that is not licensed by Arbitron for the same Data, Reports
and/or services, then Arbitron may redetermine Station’s Gross Annual Rate based on such occurrence
as described in this Section 11.

In the event Arbitron increases Station’s Gross Annual Rate as a result of an occurrence as
described in this Section, then Arbitron shall amend this Agreement to permit use of the Data,
Reports and/or services by the additional radio station(s) prompting the increase.

12. Other Arbitron Services and Reports: If, during the Term of this Agreement, Station
orders any Arbitron services or report(s) not licensed through any other Arbitron agreement,
Station hereby agrees that this Agreement shall be applicable with respect to all such services
and/or reports with the same force and effect as if printed out at length in a separate agreement
executed by Station.

13. Ratings Distortion Activity:

(a) Station agrees that it shall not engage in any activities which are determined by Arbitron
to be ratings distortion. Such prohibited activities may include, but are not limited to,
activities which could:

(i) cause any survey participant to record erroneous listening information in his or her Arbitron
diary; or

(ii) cause any survey participant to utilize an Arbitron diary for a contest or promotion
conducted by Station or its radio station(s).

(b) Station further agrees that Arbitron may delete all estimates of listening to Station and/or
its radio station(s) from any Data, Reports, computer CD and/or other Arbitron service or method of
delivery where, in its judgment it has deemed that Station or its radio station(s) has engaged in
such activities. Arbitron shall:

(i) first give Station and its radio station(s) notice setting forth what activities it
deems Station and its radio station(s) have engaged in which allegedly could cause or have caused
ratings distortion;

(ii) present evidence to substantiate the allegations set forth in (i) above; and

(iii) give Station and its radio station(s) reasonable opportunity (in light of Arbitron’s
publication schedule for any Report) to present its position both in writing and orally.

In the event that Station or its radio station(s) is notified by Arbitron that allegations of
ratings distortion have been made against Station or its radio station(s), then Station or its
radio station(s) shall submit a written response to Arbitron’s inquiry concerning the allegations
within seven (7) days from the receipt of Arbitron’s notice, which time may be shortened by
Arbitron for reasons relating to the Report publication schedule. Arbitron shall then advise
Station or its radio station(s) of its decision following its receipt of Station’s or its radio
station(s)’ written response or oral presentation. All such writings shall be addressed and sent to
the respective party by facsimile, overnight courier service, or certified mail with return receipt
requested. In the event that estimates of listening to Station and/or its radio station(s) are
deleted from a Report(s) (and/or other Arbitron services) following the procedure set forth above,
Station and its radio station(s) agree that the only remedy for such deletion shall be a credit of
the License Charge paid by Station for such Report(s) or other affected services and that in no
event shall Arbitron be liable for special, incidental, consequential or punitive damages or be
subject to injunctive relief with respect to any such deletion of estimates of listening to Station
and/or its radio station(s). In the event that estimates of listening to Station and/or its radio
stations are deleted from a Report pursuant to this Section, Arbitron agrees that it will give
Station and its radio station(s) an opportunity to submit to Arbitron a written statement (not
exceeding 200 words) of Station’s and/or its radio station(s)’s views concerning its alleged
activities, with such written statement to be published in the Report subject to such reasonable
editing deemed necessary by Arbitron. In addition, Station and its radio station(s) agree to abide
by the Arbitron policies and

procedures governing various special station activities, including,
but not limited to, rating bias.

14. Information to be Provided by Station and Its Radio 
Station(s): Station and its
radio station(s) agree to provide to Arbitron, within ten (10) days of receipt of Arbitron’s
request, such information which Arbitron deems necessary for the publication of a Report,
including, but not limited to, accurate descriptions of the following information for Station and
its radio station(s): (a) facilities; (b) broadcast station names; (c) broadcast hours; (d)
simulcast hours; (e) radio frequency; (f) operating power; (g) format; (h) height of antenna above
average terrain; and (i) programming information. Station and its radio station(s) further
understand and agree to notify Arbitron of any changes to the above-referenced information. Station
and its radio station(s) hereby hold Arbitron harmless and agree to indemnify Arbitron from and
against any and all loss, cost or expense (including reasonable attorneys’ fees) arising out of any
omission or error in information provided, or the failure to provide such information to Arbitron
by Station and its radio station(s) pursuant to this Section.

15. General:

(a) All notices to either party shall be in writing and shall be directed to the addresses
stated hereafter unless written notice of an address change has been provided.

(b) This Agreement shall be deemed to be an agreement made under, and to be construed and governed
by, the laws of the State of New York, exclusive of its choice of law rules. The parties expressly
agree that any and all disputes arising out of or concerning this Agreement or the Arbitron Data or
Reports licensed hereunder shall be litigated and adjudicated exclusively in State and/or Federal
Courts located in either the State of New York or the State of Maryland, at Arbitron’s option, and
each party consents to and submits to both such jurisdictions.

(c) EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL
RIGHT TO TRIAL BY JURY AS TO ANY ISSUES, DEMANDS, ACTIONS, CAUSES OF ACTION, CONTROVERSIES, CLAIMS
OR DISPUTES ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING THE PARTIES
HERETO.

(d) Station hereby expressly consents to Arbitron sending to Station information advertising the
various services that Arbitron provides, whether or not such services are provided under this
Agreement, via electronic messaging to include, but not limited to, e-mail, facsimile and text
messages.

(e) This Agreement, together with any Agreement Attachments, constitutes the entire agreement
between the parties concerning the subject matter hereof, notwithstanding any previous discussions
and understandings, and shall not be deemed to have been modified in whole or in part except by
written instruments signed hereafter by officers of the parties or other persons to whom the
parties have delegated such authority.

(f) Any litigated question regarding the legality, enforceability or validity of any section
or part hereof shall not affect any other section, and if any section or part hereof is ultimately
determined illegal, invalid, unconstitutional or unenforceable, that section or part hereof shall
be severed from this Agreement and the balance of the Agreement shall thereafter remain in full
force and effect for the remainder of the Term.

(g) In addition to the rights of termination stated elsewhere in this Agreement, this Agreement,
and the license provided hereunder, may be terminated by Arbitron for any or all of the Data,
Reports and/or services in any or all of the Markets in which they are licensed, for any reason, on
thirty (30) days’ written notice to Station. Station agrees that this Agreement shall continue for
the markets and services not named in such notice.

					
	 	 	 	 	 
	 
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(h) The provisions governing payment of taxes, confidentiality of the Data and Reports, and
confidentiality of respondents shall survive the termination of this Agreement.

End of Agreement

See Next Page for Signatures

	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	AGREED TO:	 	ACCEPTED BY:
	 
	 	 	 	 	 	 	 	 
	CBS Radio Inc.	 	/s/ Laura Pioso
	 	 	 
	BROADCASTER (“STATION”)	 	CONTRACT MANAGER
	 
	 	 	 	 	 	 	 	 
	*See Attached Schedule A	 	 
	FOR USE ONLY BY STATION(S)	 	5/18/06
	 

	 	 	 	 	 	 	 	DATE
	1515 Broadway	 	 
	ADDRESS	 	 
	 
	 	 	 	 	 	 	 	 
	New York

	 	NY
	 	10036	 	Arbitron Inc.
	CITY

	 	STATE
	 	ZIP
	 	9705 Patuxent Woods Drive
	/s/ Walter Z. Berger	 	Columbia, Maryland 21046-1572
	 	 	 
	BY (AUTHORIZED SIGNATURE)	 	
	 
	 	 	 	 	 	 	 	*See Attached Schedule A
	Walter Z. Berger	 	 
	NAME (TYPE OR PRINT NAME OF PERSON SIGNING ABOVE)	 	 
	 
	 	 	 	 	 	 	 	 
	EVP & CEO

	 	5/12/06	 	 	 	 	 	 
	 	 	 
	TITLE

	 	DATE	 	 	 	 	 	 

	 	 	 
	/s/ Steven Grosso

	 	5/12/06
	Steven Grosso
	 	 

					
	 	 	 	 	 
	 
	 	 	 	SG LP
	KPER-UNI 8/05 v4
	 	5
	 	Initials here

 

 

Attachment to Station License Agreement to Receive

and Use Arbitron Radio Audience Estimates

Date Prepared: May 4, 2006                    

This is an Attachment to the Station License Agreement to Receive and Use Arbitron Radio
Audience Estimates (the “Basic License Agreement”) dated May 4, 2006                    
between Arbitron Inc., a Delaware corporation (“Arbitron”) and  CBS Radio Inc.                                        

(“Station”), and is for the term and Services specified below. The license granted for the Services
specified herein is expressly subject to the Basic License Agreement, and any terms and conditions
stated below, or on the next page hereof. Station agrees to license the following Services from
Arbitron and to pay License Charges as set forth herein and In the Basic License Agreement.

	 	 	 	 	 	 	 
	For use only by:	*See Attached Schedule A
	 	 
	 
	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 
	Ship to Address(es):

	 	 	 	Bill to Address:	 	 
	 

	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	 

Data Services Ordered

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	% of	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Annual	 
	 	 	 	 	New, Renew,	 	 	License Start/	 	 	Rate	 	 	Rate	 	 	Rate	 	 	Rate	 	 	Rate	 	 	License	 
	 	Data Licensed	 	 	Replacement	 	 	End Dates	 	 	Yr 1	 	 	Yr 2	 	 	Yr 3	 	 	Yr 4	 	 	Yr 5	 	 	Charge	 
	 	RMR
	 	 	Repl.	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	 	 
	 	Processor(s) is/are
	 	 	Tapscan	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Adjacent
Market(s) – See
market(s) listed
below *
	 	 	Repl.	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	 	 
	 	Arbitrends
	 	 	Repl.	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	*	 	 	**	 
	 	Corporate Roll-Up
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	County Coverage
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Custom Survey Area
Report (CSAR)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Ethnic Data:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	o Hispanic
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	o Black
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Indirect Reports
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Maximi$er Data (RLD)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	**	 
	 	National
Regional Database
(NRD)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Processor Data
Clearance
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	RetailDirect
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Sample Increase
(requires separate
addendum)
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Other:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

* Adjacent Market(s) Ordered:

 

** The Annual License Charge for this service is equal to the net annual license charge for the
Radio Market Report multiplied by the % of Annual License Charge set forth in this column.

					
	© 2005Arbitron Inc.

KPER-UNI ATTACH 8/05 v4
	 	
	 	SG LP

Initials here

 

 

Calculation of License Charges:

				
	Individual Station Gross Annual Rate:
	 	Percent:     

	 	 	 	 	 	 	 	 	 	 	 	 
	Station:

	 	*See Sched A
	 	 	$	 	 	*
	 	*
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 
	Station:

	 	 	 	 	$	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 	 

	 	 	 	 	 
	First Term Year Gross Annual Rate (Combined):
	 	$	 	*
	 
	 	 	 
	LESS DISCOUNTS FOR RMR (Per Section 3):
	 	 	 	 
	 
	 	 	 	 
	X Continuous Service (10%):
	 	$	 	*
	 
	 	 	 
	X Group (at beginning of Term) [****]
	 	 	 	 
	o 10% o 7.5% o 5% o 2.5%
	 	$	 	*
	 
	 	 	 
	X Long-Term Discount:
	 	 	 	 
	[****] % in months 1-12

(see Section 3(c) above)
	 	
$	 	
*
	 
	 	 	 
	FIRST TERM YEAR NET ANNUAL RATE:
	 	$	 	*
	 
	 	 	 

Station further understands and agrees that the Net Annual Rate payable during any Term year
subsequent to the first Term year will vary in accordance with an applicable Group Discount, any
other applicable discount, or any adjustment as specified in Sections 2, 3, 4, 6 and 11 of the
Basic License Agreement.

Software Services Ordered

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	% of	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Annual	 
	 	 	 	 	New, Renew,	 	 	License Start/	 	 	Rate	 	 	Rate	 	 	Rate	 	 	Rate	 	 	Rate	 	 	License	 
	 	Software Licensed	 	 	Replacement	 	 	End Dates	 	 	Yr 1	 	 	Yr 2	 	 	Yr 3	 	 	Yr 4	 	 	Yr 5	 	 	Charge	 
	 	Tapscan Systems***:

	 	 	Repl.
	 	 	*See Sch A
	 	 	*
	 	 	*
	 	 	*
	 	 	*
	 	 	*	 	 	 	 
	 	Includes: X Tapscan

	 	 	X Media Master
	 	 	X Qualitap
	 	 	 ̈ PrintScan
	 	 	o MStreet
	 	 	o ScheduleIt
	 	 	X RSP	 	 	 	 
	 	Custom Coverage
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	PD Advantage

	 	 	Repl.
	 	 	*See Sch A
	 	 	*
	 	 	*
	 	 	*
	 	 	*
	 	 	*	 	 	*	 
	 	MapMaker

	 	 	Repl.
	 	 	*See Sch A
	 	 	*
	 	 	*
	 	 	*
	 	 	*
	 	 	*	 	 	*	 
	 	IRS***

	 	 	Repl.
	 	 	*See Sch A
	 	 	*
	 	 	*
	 	 	*
	 	 	*	 	 	*	 	 	 	 
	 	Other:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	Other:
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

* The Annual License Charge for this service is equal to the net annual license charge for the
Radio Market Report multiplied by the % of Annual License Charge set forth in this column.

*** Services eligible for dual service discount: percent discount                      %

	 	 	 	 	 
	Data Delivery:

	 	o CD (Ship by overnight @ $14/each)
	 	TRAINING/CONSULTING:
	 

	 	o Arbitron Data Express o TapMedia
	 	Total Training/Consulting Days:                 @$                      / day or
	Software Delivery:

	 	o CD o Download (if available)
	 	@ $                     / half day =                     

Billing Options

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Surveys/Releases	 
	 	Billing Options	 	 	 	 	 	Billing Dates	 	 	 	First Invoice Due	 	 	Service Ordered	 	 	Included (First/Last)	 

															
	 	o Annually X Monthly

o Quarterly

	 	 	*See Sched A
	 	 	*
	 	 	*
	 	 	*	 
	 	o Annually o Monthly

o Quarterly
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	o Annually o Monthly

o Quarterly
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	o Annually o Monthly

o Quarterly
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	o Annually o Monthly

o Quarterly
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 
	KPER-UNI  ATTACH.   09/05   		SG LP
	 	2	Initials here

 

 

 

Terms and Conditions

Any use of a computer system that processes Arbitron Data and/or Reports requires a
valid license for such Data and/or Reports.

Incorporation of Basic License Agreement:

(a) All terms and conditions of the Basic License Agreement are hereby incorporated herein by
reference with the same force and effect as if printed at length herein and are applicable to any
Service(s) provided hereunder.

(b) In order to receive a license to and access to any Service, Station must be licensed pursuant
to the Basic License Agreement.

In the event the Basic License Agreement terminates, expires or becomes suspended for any reason,
this Agreement and License(s) shall terminate, expire or become suspended concurrently therewith.

Mode of Use:

Where use of a computer is necessary to access, receive and use any Services licensed under
this Agreement, Station will obtain, from a vendor of its choice, computer equipment and an
operating system conforming to the minimum specifications. Station acknowledges that if such
conforming equipment and systems are not obtained, the Services may not operate properly.

Interruptions:

Station agrees that Arbitron is not responsible for computer, Internet and/or telephonic
communications interrupted by any Services system failure, telephonic disruptions, weather, acts of
God, force majeure or acts of third persons not connected with or controlled by Arbitron; nor

	 	 	 	 	 
	 
	AGREED TO
	 	 	 	 
	 
	 	 	 	 
	CBS Radio Inc.
	 	 	 	 
	 
	STATION
	 	 	 	 
	 
	 	 	 	 
	1515
Broadway
	 	 	 	 
	 
	ADDRESS
	 	 	 	 

	 	 	 	 	 
	New
York
	 	NY	 	10035
	 
	 	 	 	 
	CITY
	 	STATE	 	ZIP

	 	 	 	 	 
	/s/
Walter Z. Berger
	 	 	 	 
	 
	BY (AUTHORIZED SIGNATURE)
	 	 	 	 
	 
	 	 	 	 
	Walter
Z. Berger
	 	 	 	 
	 
	NAME (TYPE OR PRINT NAME OF PERSON SIGNING ABOVE)
	 	 	 	 

	 	 	 
	EVP
& CEO
	 	5/12/06
	 
	TITLE
	 	DATE

	 	 	 
	 
	 	 
	/s/ Steven Grosso           5/12/06
	 	 
	Steven Grosso
	 	 

for any additional expenses incurred by Station for subsequent and/or additional computer runs
necessitated by such disruptions or interruptions.

Restrictions on Station’s Use:

(a) Station agrees that it will not provide, loan, lease, sublicense or sell in whole or in
part the Arbitron Data and/or Reports and/or Systems, or computer software programs or data
included with such Data and/or Reports and/or Systems, to any other party or entity in any form.
This restriction extends to, but is not limited to, any and all organizations selling or buying
time to or from Station and any and all organizations providing data processing, software or
computer services to Station.

(b) Station agrees that it will not use the Arbitron Data and/or Reports under the control of
computer programs written by its employees, agents or others except as permitted by the Basic
License Agreement. Arbitron makes no commitment to disclose to others the structure, format, access
keys or other technical particulars of the Arbitron Data and/or Reports and/or Systems.

	 	 	 
	Special Terms or Instructions:

	 	*See Schedule A Attachment
	 

	 	 
	 
	 	 
	 

	 	 	 	 	 
	Account Manager:

	 	 	 
	 

	 	 	 
	Account #: 
	 	 	 	 
	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 

	 	 	 
	 
	ACCEPTED BY
	 	 
	 
	 	 
	/s/
Laura Pioso
	 	 
	 
	CONTRACT MANAGER
	 	 
	 
	 	 
	5/18/06
	 	 
	 
	DATE
	 	 
	 
	 	 
	 
	 	 
	 
	 	 
	Arbitron
Inc.
	 	 
	9705
Patuxent Woods Drive
	 	 
	Columbia,
Maryland 21046-1572
	 	 

	 	 	 
	KPER-UNI  ATTACH.   09/05   r3		SG LP
	 	3	Initials here

 

 

 

ATTACHMENT

to

RADIO STATION LICENSE AGREEMENTS

TO RECEIVE AND USE ARBITRON DATA AND ESTIMATES

     This is an Attachment to the Radio Station License Agreement to Receive and Use Arbitron
PPMSM Data and Estimates and Master Station License Agreement to Receive and Use
Arbitron Radio Audience Estimates dated May 4, 2006 between CBS Radio Inc. (hereinafter referred to
as “CBS Radio”) for use by its Radio Station(s) listed on Schedule “A” (hereinafter referred to as
“Station(s)”) and Arbitron Inc. (hereinafter referred to as “Arbitron”), for a Term commencing
January 1, 2007 ( in the case of the PPM ratings contracts) and April 4, 2007 ( in the case of the
diary-based ratings contract) ending December 31, 2013 (hereinafter referred to as the “Arbitron
License Agreements”).

The parties agree as follows:

1.      This is an overview of the material financial terms of the above referenced agreements. In the
event of any inconsistency, the terms of the separate documents titled “Addendum” and Schedule ‘A’
to the Arbitron License Agreements shall control.

2.      The services licensed under the above agreements are as follows:

	 	 	 	 	 	 	 	 	 
	 	 	 
	 	 	 	 	 	 	 	
Total Payments for Term	 
	 	Services	 	 	Term Period *	 	 	Period**	 
	 	 	 	 	 	 	 	 	 
	 	PPMSM
Market Report
Service, including
the PPM Market
Report, PPM
Analysis Tool
software, PPM
Weekly Arbitrends
reports, Tapscan
software, Arbitron
Integrated Radio
Systems (IRS)
software, Corporate
Rollup and National
Regional Database
services.

	 	 	1/1/07 – 12/31/13
	 	 	$221.2 Million	 
	 	 
	 	 	 	 	 	 	 
	 	Radio Market Report
Service, including
the Company’s Radio
Market Report,
Maximi$er,
Arbitrends, PD
Advantage,
Mapmaker, Corporate
Roll-UP and
National Regional
Database services,
Sample Surcharge,
Retail Direct and
Tapscan software

	 	 	4/1/07 – 12/31/13
	 	 	$59.9 Million	 
	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

* The PPM ratings contract begins at various points in time starting from 1/1/07, depending
on the roll-out of the PPM technology. The diary-based ratings contract begins on 4/1/07. Some
diary-based services end on 3/31/14 or 6/30/14. The Company will provide the PPM services as and
when the new audience ratings technology is deployed in a particular market under the Company’s
roll-out plan. Until such time as the PPM ratings technology is deployed in a particular market,
the Company will provide its ratings services in those markets. As the PPM ratings technology is
deployed, the diary-based ratings contract will lapse and PPM ratings contract will become
applicable in such markets. Additional terms relating to the services licensed under the above
agreements are set forth in a separate document titled “Addendum” to the above agreements.

** Indicates aggregate amount of all payments to be made by CBS Radio for the PPM ratings
services and the Radio Market Report services during the term of the respective contract,
assuming the contract is not terminated prior to the expiration of the stated term and based on
the stations currently owned by CBS Radio and the anticipated roll-out of the PPM.exv10w1

 

Exhibit 10.1

THIRD AMENDMENT TO SALE AND SERVICING AGREEMENT

(Hercules Funding Trust I)

     THIS THIRD AMENDMENT TO THE SALE AND SERVICING AGREEMENT, dated as of July 28, 2006 (this
“Amendment”), is entered into in connection with that certain Sale and Servicing Agreement,
dated as of August 1, 2005 (as amended, supplemented, restated or replaced from time to time, the
“Sale and Servicing Agreement”), by and among Hercules Funding Trust I, as the issuer
(together with its successors and assigns in such capacity, the “Issuer”), Hercules Funding
I, LLC, as the depositor (together with its successors and assigns in such capacity, the
“Depositor”), Hercules Technology Growth Capital, Inc., as the originator (together with
its successors and assigns in such capacity, the “Originator”) and as the servicer
(together with its successors and assigns in such capacity, the “Servicer”), U.S. Bank
National Association, as the indenture trustee (together with its successors and assigns in such
capacity, the “Indenture Trustee”) and as the collateral custodian (together with its
successors and assigns in such capacity, the “Collateral Custodian”), Lyon Financial
Services, Inc. d/b/a/ U.S. Bank Portfolio Services, as the backup servicer (together with its
successors and assigns in such capacity, the “Backup Servicer”) and Citigroup Global
Markets Realty Corp., as the initial noteholder (together with its successors and assigns in such
capacity, the “Initial Noteholder”). Capitalized terms used and not otherwise defined
herein shall have the meanings given to such terms in the Sale and Servicing Agreement.

R E C I T A L S

     WHEREAS, the above-named parties have entered into the Sale and Servicing Agreement, and,
pursuant to and, in accordance with Section 11.02 thereof, the parties hereto desire to amend the
Sale and Servicing Agreement in certain respects as provided herein;

     NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

     SECTION 1. AMENDMENT.

     The definition of “Amortization Date ” in Section 1.1 of the Sale and Servicing Agreement
is hereby amended and restated in its entirety as follows:

     ““Amortization Date”: The date that occurs 364 days after July 31, 2006 (or if such
date is not a Business Day, the preceding Business Day), as such date may be extended pursuant to
Section 2.09.”

     SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED.

     Except as specifically amended hereby, all provisions of the Sale and Servicing Agreement
shall remain in full force and effect. This Amendment shall not be deemed to expressly or
impliedly waive, amend or supplement any provision of the Sale and Servicing Agreement other than
as expressly set forth herein and shall not constitute a novation of the Sale and Servicing
Agreement.

 

 

     SECTION 3. REPRESENTATIONS.

     Each of the Issuer, Originator, Depositor and Servicer represent and warrant as of the date of
this Amendment as follows:

     (i) it is duly incorporated or organized, validly existing and in good standing under
the laws of its jurisdiction of incorporation or organization;

     (ii) the execution, delivery and performance by it of this Amendment are within its
powers, have been duly authorized, and do not violate (A) its charter, by-laws, or other
organizational documents, or (B) any Applicable Law;

     (iii) no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any governmental authority is required in connection with the
execution, delivery, performance, validity or enforceability of this Amendment by or against
it;

     (iv) this Amendment has been duly executed and delivered by it;

     (v) this Amendment constitutes its legal, valid and binding obligation, enforceable
against it in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally or by general principles of equity; and

     (vi) there is no Servicer Default, Event of Default or termination or optional
termination, each as described in the Sale and Servicing Agreement.

     SECTION 4. CONDITIONS TO EFFECTIVENESS.

     The effectiveness of this Amendment is conditioned upon the following:

     (i) delivery of executed signature pages by all parties hereto;

     (ii) confirmation by the Initial Noteholder of receipt in immediately available funds of
$312,500.00, constituting payment by the Issuer of the Renewal Fee.

     SECTION 5. MISCELLANEOUS.

     (a) This Amendment may be executed in any number of counterparts (including by facsimile), and
by the different parties hereto on the same or separate counterparts, each of which shall be deemed
to be an original instrument but all of which together shall constitute one and the same agreement.

     (b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any
of the provisions hereof.

-2-

 

     (c) This Amendment may not be amended or otherwise modified except as provided in the Sale and
Servicing Agreement.

     (d) The failure or unenforceability of any provision hereof shall not affect the other
provisions of this Amendment.

     (e) Whenever the context and construction so require, all words used in the singular number
herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender
shall include the feminine and neuter and the neuter shall include the masculine and feminine.

     (f) This Amendment represents the final agreement between the parties only with respect to the
subject matter expressly covered hereby and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral
agreements between the parties.

     (g) By its signature below, the Indenture Trustee acknowledges that this Amendment shall
constitute the notice required by Section 2.09 of the Sale and Servicing Agreement.

     (h) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS (OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE
GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

[Remainder of Page Intentionally Left Blank]

-3-

 

     IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed by their
respective officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	THE ISSUER:	 	HERCULES FUNDING TRUST I
	 
	 	 	 	 
	 	 	By: Wilmington Trust Company, not in its

individual capacity, but solely as Owner Trustee
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Rachel L. Simpson
	 

	 	 	 	 
	 

	 	 	 	Name: Rachel L. Simpson

Title: Sr. Financial Services Officer
	 
	 	 	 	 
	DEPOSITOR:	 	HERCULES FUNDING I LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Scott Harvey
	 

	 	 	 	 
	 

	 	 	 	Name: Scott Harvey

Title: Vice President
	 
	 	 	 	 
	THE ORIGINATOR
	 	 	 	 
	AND SERVICER:	 	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ David M. Lund
	 

	 	 	 	 
	 

	 	 	 	Name: David M. Lund

Title: Vice President Finance
	 
	 	 	 	 
	THE COLLATERAL CUSTODIAN
	 	 	 	 
	AND INDENTURE TRUSTEE:	 	U.S. BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kyle Harcourt
	 

	 	 	 	 
	 

	 	 	 	Name: Kyle Harcourt

Title: Vice President

[SIGNATURES CONTINUED ON THE FOLLOWING PAGE]

 

 

	 	 	 	 	 
	THE BACKUP SERVICER:	 	LYON FINANCIAL SERVICES, INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Lisa M. Olm
	 

	 	 	 	 
	 

	 	 	 	Name: Lisa M. Olm

Title: Director of Contract Administration
	 
	 	 	 	 
	THE PAYING AGENT:	 	U.S. BANK NATIONAL ASSOCIATION
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kyle Harcourt
	 

	 	 	 	 
	 

	 	 	 	Name: Kyle Harcourt

Title: Vice President
	 
	 	 	 	 
	THE INITIAL NOTEHOLDER:	 	CITIGROUP GLOBAL MARKETS REALTY CORP.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ John Pawlowski
	 

	 	 	 	 
	 

	 	 	 	Name: John Pawlowski

Title: Authorized Signer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00107-of-00352.parquet"}]]