Document:

exv4w2w4

 

Exhibit 4.2.4

GUARANTEE

     This GUARANTEE (this “Guarantee”), dated as of                           , 2006, is entered into
by Sprint Nextel Corporation, a Kansas corporation (“Sprint Nextel”), in favor of each
holder (“Holder”) of the 10.75% Senior Discount Notes due 2015 (the “Notes”), and
U.S. Bank National Association, a national banking association, as Trustee under the Indenture
referred to below (the “Trustee”).

     WHEREAS, IWO Escrow Company, a Delaware corporation (“IWO Escrow”), issued the Notes
pursuant to that certain Indenture, dated as of January 6, 2005, between IWO Escrow and the
Trustee, as amended by the Supplemental Indenture, dated as of February 10, 2005, among IWO
Holdings, Inc., a Delaware corporation (as successor in interest to the obligations of IWO Escrow,
“IWO”), the subsidiary guarantors party thereto and the Trustee (as so amended, the
“Indenture”);

     WHEREAS, IWO Escrow merged with and into IWO on February 10, 2005 and, thereafter, IWO assumed
all obligations of IWO Escrow under the Notes and the Indenture;

     WHEREAS, IWO is a wholly-owned subsidiary of Sprint Nextel;

     WHEREAS, the Board of Directors of Sprint Nextel has determined it to be in the best interest
of Sprint Nextel to guarantee all of IWO’s payment obligations under the Notes and all other
monetary obligations of IWO under the Indenture and the Notes;

     WHEREAS, Sprint Nextel desires to enter into this Guarantee on the terms and conditions set
forth herein; and

     WHEREAS, all capitalized terms used but not defined herein shall have the meanings given to
such terms in the Indenture.

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Sprint Nextel hereby agrees as follows:

     1. Sprint Nextel hereby jointly and severally, with any other Person who may also guarantee
the Guaranteed Obligations (defined below), unconditionally and irrevocably guarantees, on a senior
unsecured basis, as a primary obligor and not as a surety, to each Holder of Notes and to the
Trustee and its successors and assigns, the full and punctual payment when due, whether at
maturity, by acceleration, redemption or otherwise, of the principal of and interest on, if any,
the Notes, only if lawful, and all other monetary obligations of IWO under the Indenture, in so far
as such monetary obligations relate to the Notes (collectively, the “Guaranteed
Obligations”). Sprint Nextel further agrees that the Guaranteed Obligations may be extended or
renewed, in whole or in part, without notice or further assent from Sprint Nextel, and

 

 

Sprint Nextel shall remain bound under this Guarantee, notwithstanding any such extension or
renewal. Failing payment when due of any amount so guaranteed for whatever reason, Sprint Nextel
will be obligated to pay the same in full, or cause to be duly and punctually paid in full, without
any demand or notice whatsoever.

     2. Sprint Nextel hereby waives presentation to, demand of payment from and protest to, IWO of
any of the Guaranteed Obligations, and also waives notice of protest for nonpayment. Sprint Nextel
also hereby waives notice of any default by IWO under the Notes or the Indenture. Sprint Nextel
agrees that its obligations under this Guarantee shall be continuing, absolute, full and
unconditional under any and all circumstances, to the fullest extent permitted by applicable law,
and shall not be discharged except by payment in full of the Notes, irrespective of:

     (a) the value, genuineness, regularity, validity, enforceability, avoidance,
subordination, discharge or disaffirmance of any of the Guaranteed Obligations, the Notes or
the Indenture, or the absence of any action to enforce the same;

     (b) any extension or waiver, at any time or from time to time, without notice to Sprint
Nextel, of the time for compliance by IWO with any of its obligations under the Notes or the
Indenture;

     (c) any substitution, release or exchange of any other guarantee of or security for any
obligations of IWO under the Notes or the Indenture;

     (d) any recission, amendment or modification to any of the terms or provisions of the
Notes or the Indenture;

     (e) any law, regulation or order of any jurisdiction affecting any term of any of the
Notes or the Indenture or the rights of any Holder of Notes or the Trustee with respect
thereto;

     (f) any failure to obtain any authorization or approval from, or other action by, to
notify, or to file anything with, any governmental authority or regulatory body required in
connection with the performance of this Guarantee by Sprint Nextel;

     (g) the failure by any Holder of Notes or the Trustee to assert any claim or demand or
to exercise any right or remedy against IWO or any other guarantor of the Guaranteed
Obligations or any other Person;

     (h) the failure by any Holder of Notes or the Trustee to exercise any right or remedy
against any collateral securing any of the Guaranteed Obligations; or

     (i) any other circumstance whatsoever that might otherwise constitute a defense to or a
legal or equitable discharge of Sprint Nextel’s obligations, in its capacity as guarantor,
under this Guarantee.

     3. Sprint Nextel’s obligations under this Guarantee shall not be limited by any valuation,
estimation or disallowance made in connection with any proceedings filed by or against Sprint
Nextel under the United States Bankruptcy Code of 1978, as amended (the

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“Bankruptcy Code”), whether pursuant to Section 502 of the Bankruptcy Code or any
other section thereof. Sprint Nextel further agrees that, in its capacity as guarantor, none of
the Holders of Notes shall be under any obligation to marshall any assets in favor of or against or
in payment of any or all of the Guaranteed Obligations or the Notes. To the extent that Sprint
Nextel makes a payment or payments on any or all of the Guaranteed Obligations and such payment or
payments (or any part thereof) is or are subsequently invalidated, declared to be fraudulent or
preferential, set aside or required to be repaid to Sprint Nextel, its estate, trustee or receiver
or any other party, including, without limitation, Sprint Nextel, under any bankruptcy law, state
or federal law, common law or equitable cause, then to the extent of such payment or repayment, the
Guaranteed Obligations (or, if applicable, such part thereof as had been paid, reduced or satisfied
by such amount), shall be reinstated and revived and continued in full force and effect as of the
date such initial payment, reduction or satisfaction occurred. Sprint Nextel waives all set-offs,
counterclaims, reductions and diminutions of any obligation, and any defense of any kind or nature
(other than payment of the Guaranteed Obligations), that Sprint Nextel may have or assert against
IWO or any other Person, and all presentments, demands for performance, notices of nonperformance,
protests, notices of protest, notices of dishonor and notices of acceptance of this Guarantee.

     4. Sprint Nextel hereby unconditionally and irrevocably waives (a) any defense arising by
reason of any claim or defense based upon an election of remedies by any Holder of Notes that in
any manner impairs, reduces, releases or otherwise adversely affects the subrogation,
reimbursement, exoneration, contribution or indemnification rights of Sprint Nextel or other rights
of Sprint Nextel to proceed against IWO or any other guarantor or any other Person or collateral,
if any, and (b) any defense based on any right of set-off or counterclaim against or in respect of
the Guaranteed Obligations, the Notes or the Indenture.

     5. Sprint Nextel hereby waives any right to which it may be entitled to have its obligations
under this Guarantee divided among it and other guarantors of the Guaranteed Obligations, if any,
such that Sprint Nextel’s obligations would be less than the full amount claimed. Sprint Nextel
hereby waives any right to which it may be entitled to have the assets of IWO or any other Person
who became an “obligor” under the Notes or the Indenture first be used and depleted as payment of
the obligations of IWO or such other Person, respectively, under the Notes and the Indenture prior
to any amounts being claimed from or paid by Sprint Nextel under this Guarantee. Sprint Nextel
hereby waives any right to which it may be entitled to require that suit be instituted against IWO
or any other guarantor of the Guaranteed Obligations or “obligor” under the Notes or the Indenture
prior to an action being initiated against Sprint Nextel. Sprint Nextel further agrees that this
Guarantee constitutes a guarantee of payment when due (and not a guarantee of collection) and
waives any right, in its capacity as guarantor, to require that any resort be had by any Holder of
Notes or the Trustee to any security held for payment of the Guaranteed Obligations.

     6. The failure to endorse a notation of this Guarantee on any Note shall not affect or impair
the validity thereof.

     7. Sprint Nextel’s obligations under this Guarantee shall not be affected if any Holder of
Notes is precluded for any reason (including, without limitation, the application of the automatic
stay under Section 362 of the Bankruptcy Code) from enforcing or exercising any

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right or remedy with respect to the Notes, and Sprint Nextel shall pay to each affected Holder
of Notes, upon demand, the amount that would otherwise have been due and payable had the exercise
of such rights and remedies been permitted. In the event of any such application of the automatic
stay under Section 362 of the Bankruptcy Code, the Notes shall forthwith become due and payable by
Sprint Nextel for purposes of this Guarantee.

     8. Sprint Nextel hereby agrees that, unless and until all obligations with respect to the
Notes and the Indenture have been paid in full, in its capacity as guarantor, it shall have no
right (whether direct or indirect) of subrogation (whether contractual, under Section 509 of the
Bankruptcy Code or otherwise) to the claims of any Holder of Notes or the Trustee against IWO or
any other Person who became an “obligor” under the Notes or the Indenture in respect of any
obligation with respect to the Notes or the Indenture, notwithstanding any payment or payments made
by Sprint Nextel hereunder or any set-off or application of funds of Sprint Nextel or by the Holder
of Notes; and Sprint Nextel hereby waives all contractual, statutory and common law rights of
reimbursement, contribution or indemnity it may have against IWO or any other such Person, as the
case may be, and any and all other rights of payment or recovery from IWO or any other such Person,
as the case may be, that it may now have or hereafter acquire until all Notes and all obligations
under the Indenture in respect of the Notes have been paid in full (in which event such rights of
payment or recovery shall be deemed to be in the form of a loan or loans made from Sprint Nextel to
IWO or any other such Person, as the case may be). Sprint Nextel further agrees that as between
Sprint Nextel, on the one hand, and the Holders of Notes and the Trustee, on the other hand, (a)
the maturity of the Notes guaranteed hereby may be accelerated as provided in Article VI of the
Indenture for the purpose of this Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the Notes guaranteed pursuant to this
Guarantee, and (b) in the event of any declaration of acceleration of such Notes as provided in
Article VI of the Indenture, such Notes (whether or not due and payable) will forthwith become due
and payable by Sprint Nextel for the purpose of this Guarantee.

     9. Except as otherwise specifically provided in Section 12 hereof with respect to the release
of Sprint Nextel from this Guarantee, this Guarantee shall remain in full force and effect and be
binding in accordance with and to the extent of its terms upon Sprint Nextel and the successors
thereof, and shall inure to the benefit of (and be enforceable by) the Trustee and the Holders of
Notes from time to time, or their respective successors or assignees, until the Indenture shall
have been satisfied and discharged in accordance with the terms thereof, and the principal of and
interest, if any, on the Notes, and the obligations of Sprint Nextel in respect of the Guaranteed
Obligations, have been satisfied by payment in full.

     10. Payments made by Sprint Nextel pursuant to this Guarantee will be made to each Holder of
Notes in the same manner, and to the same location, as payments to such Holder of Notes are
required to be made pursuant to the provisions of the Indenture.

     11. Sprint Nextel shall pay all reasonable costs and expenses (including reasonable attorneys’
fees and expenses) paid or incurred by the Trustee or any Holder of Notes in connection with the
enforcement of this Guarantee or any other rights of the Trustee or such Holder of Notes under the
Notes or the Indenture with respect to this Guarantee and the prosecution or defense of any action
by or against any of the Holder of Notes in connection with

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this Guarantee or the Indenture with respect to this Guarantee, whether involving Sprint
Nextel or any other Person, including a trustee in bankruptcy; provided, however,
that, Sprint Nextel shall have no such obligation in connection with any action brought by any
Holder of Notes against Sprint Nextel or IWO to the extent that Sprint Nextel or IWO is the
prevailing party in the judgment rendered in any such action; and provided,
further, that, Sprint Nextel shall not be responsible for the fees and expenses of more
than one firm of attorneys (in addition to any required local counsel).

     12. Sprint Nextel may be released from this Guarantee upon the sale or other transfer of the
capital stock of IWO or of all or substantially all of the assets of IWO to an entity that is not
Sprint Nextel or a Subsidiary of Sprint Nextel, which release shall be effective (a) only upon (1)
the execution and delivery by such transferee of a guarantee of the Guaranteed Obligations, in form
and substance substantially similar to this Guarantee, in favor of each Holder of Notes and the
Trustee, and (2) written notice by Sprint Nextel to the Trustee accompanied by an Officer’s
Certificate certifying as to compliance with this Section 12, and (b) without any further action on
the part of the Trustee or any Holder of Notes. Upon any such release in compliance with the above
requirements, the Trustee shall deliver an appropriate instrument evidencing such release. Any
actions taken pursuant to this Section 12 shall not release IWO as a primary obligor under the
Indenture or the Notes.

     13. Any invalidity or unenforceability of any provision or application of this Guarantee shall
not affect other lawful provisions and applications hereof, and to this end the provisions of this
Guarantee are declared to be severable. Except as otherwise provided herein, this Guarantee may
not be waived, amended, released or otherwise changed except with the consent of Sprint Nextel and
not less than a majority in aggregate principal amount of the then outstanding Notes.

     14. This Guarantee shall be construed according to the laws of the State of New York without
regard to conflicts of laws principles.

[Remainder of Page Blank — Signature Page Follows]

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     IN WITNESS WHEREOF, the undersigned has duly executed this Guarantee as of the date first
written above.

	 	 	 	 	 
	 	 	SPRINT NEXTEL CORPORATION
	 
	 	 	 	 
	 

	 	By:
	 	
 

	 

	 	Name:
	 	
 

	 

	 	Title:<PAGE>

                                  EXHIBIT 10.36

                                 FIFTH AMENDMENT
                                       OF
                         USG CORPORATION RETIREMENT PLAN

            (As Amended and Restated Effective as of January 1, 1999)

      WHEREAS, USG Corporation Retirement Plan (the "plan") is maintained by USG
Corporation (the "company"), which plan was amended and restated on December 29,
1999, effective as of January 1, 1999; and

      WHEREAS, it now is deemed desirable and in the best interests of the
employers under the plan and their employees to further amend the plan;

      NOW, THEREFORE, pursuant to the amending power reserved to the company
under subsection 14.1 of the plan, the plan is further amended, as follows:

      1. By substituting the following for subsection 2.1 of the plan, effective
June 27, 2005:

      "2.1 Covered Employee, Participant, Eligibility Date

            The term `covered employee' means an employee who is a member of a
      group of employees of an employer to which the plan has been and continues
      to be extended by the company or by agreement, and who, effective January
      1, 2000, is not classified by the employer as a temporary employee. The
      term `participant' means an employee of a USG Company who, after becoming
      eligible for participation in the plan, is enrolled in the plan pursuant
      to this Section 2 and also means a former employee of the USG Companies
      who either is receiving benefits under the plan or is entitled to receive
      benefits under the plan commencing on a future date. The term `eligibility
      date' means for any employee the date that is determined, in accordance
      with uniform and consistent rules established by the committee, by
      reference to (and not later than the 90 days after) the date on which the
      employee first performs an hour of service as a covered employee. In the
      case

<PAGE>

      of an employee who declines to make contributions under subsection 2.5
      when the employee is first eligible to do so, the term `eligibility date'
      means the first subsequent pay date after the employee's enrollment form
      is received and processed by the employee's employer, as determined in
      accordance with rules established by the committee. In the case of a
      former employee who is reemployed by an employer, the term `eligibility
      date' also includes any other date described in subparagraphs 9.1(a) and
      9.2(b) on which such employee is entitled to become enrolled in the plan.
      If an employee of a USG Company becomes a covered employee more than six
      months after the date the employee completes twelve months of employment
      with the USG Companies, the date the employee so becomes a covered
      employee also shall be an `eligibility date.' For purposes of determining
      eligibility to become a participant in the plan, the term `employee' for
      any plan year means any individual who is treated and/or classified by the
      employer for such plan year as an employee for purposes of employment
      taxes and wage withholding for Federal income tax. Except as specifically
      provided in subparagraph 2.8(c), individuals who perform services for an
      employer as independent contractors, leased employees, or through agencies
      are not employees of the employer and therefore are not eligible for
      benefits under this plan. If an individual is not considered to be an
      employee of an employer for purposes of employment taxes and wage
      withholding, a subsequent determination by the employer, any governmental
      agency or court that the individual is a common law employee of the
      employer, even if such determination is applicable to prior years, will
      not have a retroactive effect for purposes of eligibility to participate
      in the plan for any plan year. A temporary employee is an employee who is
      classified as such by the employer and is employed usually for less than
      90 days with a specified date beyond which employment will not continue;
      interns (i.e. students who are employed during summer and other vacations)
      and co-op students (i.e. students who receive school credit for employment
      with the employer) are considered temporary employees."

      2. By substituting the following for subparagraph 5.5(a), effective March
28, 2005:

            "(a)  If the lump sum actuarially equivalent value of the
                  participant's accrued benefits derived from employer
                  contributions does not exceed $5,000 (but subject to the
                  consent requirements set forth in subparagraph 7.8(a) if the
                  lump sum actuarially equivalent value of the participant's
                  total accrued benefits exceeds $1,000), the lump sum payment
                  will be an amount equal to the lump sum actuarially equivalent
                  value of the participant's total accrued benefits. Unless the
                  participant subsequently is reemployed by an employer and
                  again becomes an active participant and makes the required
                  contributions, no other benefits shall be payable under the
                  plan to, or with respect to, the participant."

                                      -2-
<PAGE>

      3. By substituting "$1,000" for "$5,000" where the latter appears in
subsection 5.11 of the plan, effective March 28, 2005.

      4. By substituting the following for subsection 5.11 of the plan,
effective June 27, 2005:

      "5.11 Benefit Commencement Consent Requirements

            If the lump sum actuarially equivalent value of a participant's
      nonforfeitable accrued benefits is greater than $1,000, written consent of
      the participant and, if the participant has an eligible spouse at the time
      of the commencement of the distribution of such benefits, the
      participant's eligible spouse, shall be required before the commencement
      of the distribution of any part of the participant's accrued benefits as
      described in subparagraph 7.8(a). No consent shall be required for any
      payment to a survivor other than an eligible spouse."

      5. By substituting the following for subparagraph 6.3(a) of the plan,
effective March 27, 2005:

            "(a)  If the lump sum actuarially equivalent value of the
                  participant's accrued benefits derived from employer
                  contributions does not exceed $5,000 (but subject to the
                  consent requirements set forth in subparagraph 7.8(a) if the
                  lump sum actuarially equivalent value of the participant's
                  total accrued benefits exceeds $1,000), the lump sum payment
                  will be an amount equal to the lump sum actuarially equivalent
                  value of the participant's total accrued benefits. Unless the
                  participant subsequently is reemployed by an employer and
                  again becomes an active participant and makes the required
                  contributions, no other benefits shall be payable under the
                  plan to, or with respect to, the participant."

      6. By substituting $1,000" for "$5,000" where the latter appears in
subsection 6.7 of the plan, effective March 28, 2005.

                                      -3-
<PAGE>

      7. By substituting the following for subsection 6.7 of the plan, effective
June 27, 2005:

      "6.7 Benefit Commencement Consent Requirements

            If the lump sum actuarially equivalent value of a participant's
      nonforfeitable accrued benefits is greater than $1,000, written consent of
      the participant and, if the participant has an eligible spouse at the time
      of the commencement of the distribution of such benefits, the
      participant's eligible spouse, shall be required before the commencement
      of the distribution of any part of the participant's accrued benefits as
      described in subparagraph 7.8(a). No consent shall be made for any payment
      to a survivor who is not an eligible spouse."

      8. By substituting "$1,000" for "$5,000" where the latter appears in
subparagraph 7.8(a) and in subsection 7.9 of the plan, effective March 28, 2005.

      9. By substituting the following for subsection 7.9 of the plan, effective
June 27, 2005:

      "7.9 Payment of Small Amounts

            If the lump sum actuarially equivalent value of a participant's
      accrued benefits (as defined in subparagraph 7.10(a)) does not exceed
      $1,000, or if the participant's accrued benefits are payable to a
      participant's eligible spouse because of the death of the participant
      before the participant's benefit commencement date and the lump sum
      actuarially equivalent value of such benefits does not exceed $1,000, a
      lump sum payment equal to the lump sum actuarially equivalent value of
      such benefits shall be paid to the participant, or the participant's
      eligible spouse, as the case may be. For purposes of this subsection, the
      lump sum actuarially equivalent value shall be determined in accordance
      with paragraph A-4 of Exhibit A. If a participant's accrued benefits
      derived from employer contributions are zero, the participant shall be
      deemed to have received a distribution of such benefits."

                                      -4-
<PAGE>

      IN WITNESS WHEREOF, the company has caused these presents to be signed by
its officer thereunto duly authorized this 4th day of August, 2005.

                                          USG CORPORATION

                                          By: /s/ Peter K. Maitland
                                              ----------------------------------
                                              Vice President, Compensation
                                              Benefits And Administration

                                      -5-

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