Document:

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                                                                    EXHIBIT 10.1

                       CLEAR CHANNEL COMMUNICATIONS, INC.

                                       AND

                              THE BANK OF NEW YORK,

                                   as Trustee

                             ----------------------

                        EIGHTEENTH SUPPLEMENTAL INDENTURE

                          Dated as of November 22, 2004

                                       TO

                                SENIOR INDENTURE

                           Dated as of October 1, 1997

                             ----------------------

                           4.50% Senior Notes due 2010

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                              Eighteenth Supplemental Indenture, dated as of the
                        22nd day of November 2004 (this "Eighteenth Supplemental
                        Indenture"), between Clear Channel Communications, Inc.,
                        a corporation duly organized and existing under the laws
                        of the State of Texas (hereinafter sometimes referred to
                        as the "Company") and The Bank of New York, a New York
                        banking corporation, as trustee (hereinafter sometimes
                        referred to as the "Trustee") under the Indenture dated
                        as of October 1, 1997, between the Company and the
                        Trustee (the "Indenture"); as set forth in Section 5.01
                        hereto and except as otherwise set forth herein, all
                        terms used and not defined herein are used as defined in
                        the Indenture.

            WHEREAS, the Company executed and delivered the Indenture to the
Trustee to provide for the future issuance of its Securities, to be issued from
time to time in series as might be determined by the Company under the
Indenture, in an unlimited aggregate principal amount which may be authenticated
and delivered thereunder as in the Indenture provided;

            WHEREAS, pursuant to the terms of the Indenture, the Company desires
to provide for the establishment of a new series of its Securities to be known
as its 4.50% Senior Notes due 2010 (said series being hereinafter referred to as
the "Notes"), the form of such Notes and the terms, provisions and conditions
thereof to be as provided in the Indenture and this Eighteenth Supplemental
Indenture;

            WHEREAS, the Company desires and has requested the Trustee to join
with it in the execution and delivery of this Eighteenth Supplemental Indenture,
and all requirements necessary to make this Eighteenth Supplemental Indenture a
valid instrument, enforceable in accordance with its terms, and to make the
Notes, when executed by the Company and authenticated and delivered by the
Trustee, the valid obligations of the Company have been performed and fulfilled,
and the execution and delivery of this Supplemental Indenture and the Notes have
been in all respects duly authorized.

            NOW, THEREFORE, in consideration of the purchase and acceptance of
the Notes by the holders thereof, and for the purpose of setting forth, as
provided in the Indenture, the form of the Notes and the terms, provisions and
conditions thereof, the Company covenants and agrees with the Trustee as
follows:

                                    ARTICLE I

                    General Terms and Conditions of the Notes

            SECTION 1.01. (a) There shall be and is hereby authorized a series
of Securities designated the "4.50% Senior Notes due 2010", initially limited in
aggregate principal amount to $250,000,000. Without the consent of the Holders
of the Notes, the aggregate principal amount of the Notes, Notes may be
increased in the future, on the same terms and conditions and with the same
CUSIP number as the Notes. The Notes

<PAGE>

shall mature and the principal thereof shall be due and payable, together with
all accrued and unpaid interest thereon on January 15, 2010.

            SECTION 1.02. The Notes shall be initially issued as Global
Securities. Principal and interest on the Notes issued in certificated form will
be payable, the transfer of such Notes will be registrable and such Notes will
be exchangeable for Notes, bearing identical terms and provisions at the office
or agency of the Company in the Borough of Manhattan, The City and State of New
York provided for that purpose and transfers of the Notes will also be
registrable at any of the Company's other offices or agencies as the Company may
maintain for that purpose; provided, however, that payment of interest may be
made at the option of the Company by check mailed to the registered holder at
such address as shall appear in the Security Register and that the payment of
principal with respect to the Notes will only be made upon surrender of the
applicable Notes to the Trustee.

            SECTION 1.03. Each Note will bear interest at the rate of 4.50% per
annum from November 22, 2004 until the principal thereof becomes due and
payable, payable (subject to the provisions of Article II) semi-annually in
arrears on January 15 and July 15 of each year (each, an "Interest Payment
Date", commencing on July 15, 2005), to the person in whose name such Note (or
one or more Predecessor Securities) are registered at the close of business on
the Regular Record Date for such interest installment, which, except as set
forth below, shall be January 1 or July 1 next preceding the Interest Payment
Date with respect to such interest installment. Any installment of interest not
punctually paid or duly provided for shall forthwith cease to be payable to the
registered holder of Notes on such Regular Record Date and may be paid to the
person in whose name such Notes (or one or more Predecessor Securities) are
registered at the close of business on a Special Record Date to be fixed by the
Trustee for the payment of such defaulted interest, notice whereof to be given
to the registered holders of the Notes, as applicable, not less than 10 days
prior to such Special Record Date, or may be paid at any time in any other
lawful manner not inconsistent with the requirements of any securities exchange
on which the Notes may be listed, and upon such notice as may be required by
such exchange, all as more fully provided in the Indenture.

            The amount of interest payable for any period will be computed on
the basis of a 360-day year consisting of twelve 30-day months. In the event
that any date on which interest is payable on the Notes is not a Business Day,
then payment of interest payable on such date will be made on the next
succeeding day which is a Business Day (and without any interest or other
payment in respect of any such delay).

            SECTION 1.04. The Notes are not entitled to any sinking fund.

            SECTION 1.05. Section 101 of the Indenture is hereby amended, solely
with respect to the Notes, by amending and restating the definition of
"Principal Property" as follows: "Principal Property" means any radio
broadcasting, television broadcasting, outdoor advertising or live entertainment
property located in the United States owned or leased by the Company or any
Subsidiary, unless, in the opinion of the Board of Directors of the Company,
such properties are not in the aggregate of material

<PAGE>

importance to the total business conducted by the Company and its Subsidiaries
as an entirety.

                                   ARTICLE II

                        Optional Redemption of the Notes

SECTION 2.01. The Notes will be redeemable as a whole at any time or in part
from time to time, at the option of the Company, at a redemption price equal to
the greater of (i) 100% of the principal amount of such Notes and (ii) the sum
of the present values of the remaining scheduled payments of principal and
interest thereon from the redemption date to January 15, 2010, discounted to the
redemption date on a semiannual basis (assuming a 360 day year consisting of
twelve 30-day months) at the Treasury Rate (as defined below) plus 20 basis
points, plus, in either case, any interest accrued but not paid to the date of
redemption. Notice of any redemption will be mailed at least 30 days but no more
than 60 days before the redemption date to each holder of the Notes to be
redeemed. Unless the Company defaults in payment of the redemption price, on and
after the redemption date interest will cease to accrue on the Notes or portions
thereof called for redemption. The Notes will not be subject to any sinking fund
provision.

      "Treasury Rate" means, with respect to any redemption date for the Notes,
(i) the yield, under the heading which represents the average for the
immediately preceding week, appearing in the most recently published statistical
release designated "H.15(519)" or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption "Treasury Constant Maturities," for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the maturity date, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue
shall be determined and the Treasury Rate shall be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month), or
(ii) if such release referred to in clause (i) (or any successor release) is not
published during the week preceding the calculation date or does not contain the
yields referred to above, the rate per year equal to the semiannual equivalent
yield maturity of the Comparable Treasury Issue, calculated using a price for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption date. The
Treasury Rate shall be calculated on the third Business Day preceding the
redemption date.

      "Comparable Treasury Issue" means the United States Treasury security
selected by an "Independent Investment Banker" as having a maturity comparable
to the remaining term of the Notes to be redeemed that would be utilized, at the
time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the
remaining term of such Notes.

      "Independent Investment Banker" means, with respect to any redemption date
for the Notes, UBS Securities LLC and its successors or, if such firm or any

<PAGE>

successor to such firm, as the case may be, is unwilling or unable to select the
Comparable Treasury Issue, an independent investment banking institution of
national standing appointed by the Trustee after consultation with the Company.

      "Comparable Treasury Price" means, with respect to any redemption date for
the Notes, (i) the average of four Reference Treasury Dealer Quotations (as
defined below) for the redemption date, after excluding the highest and lowest
such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer
than four such Reference Treasury Dealer Quotations, the average of all such
quotations obtained.

      "Reference Treasury Dealer" means UBS Securities LLC and three other
primary U.S. Government securities dealers in the United States (each, a
"Primary Treasury Dealer") appointed by the Trustee in consultation with the
Company. If any of the foregoing shall cease to be a Primary Treasury Dealer,
the Company shall substitute therefor another Primary Treasury Dealer.

      "Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by
the Trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day preceding such redemption date.

                                   ARTICLE III

                                  Form of Notes

      SECTION 3.01. The Notes and the Trustee's Certificate of Authentication to
be endorsed thereon are to be substantially in the following forms:

      UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR
ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.

      THIS SECURITY IS A GLOBAL SECURITY AS REFERRED TO IN THE INDENTURE
HEREINAFTER REFERENCED. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR
THE INDIVIDUAL SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY
OR BY A NOMINEE OF THE DEPOSITARY TO THE

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DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH
NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

                       CLEAR CHANNEL COMMUNICATIONS, INC.
                     4.50% SENIOR NOTE DUE JANUARY 15, 2010

REGISTERED                                                                  $[ ]

NO. R-[ ]                                                              CUSIP [ ]

                                                                        ISIN [ ]

      CLEAR CHANNEL COMMUNICATIONS, INC., a corporation duly organized and
existing under the laws of the State of Texas (herein called the "Company",
which term includes any successor under the Indenture hereinafter referred to),
for value received, hereby promises to pay to

                                   Cede & Co.

or registered assigns, the principal sum of $[ ] at the office or agency of the
Company in the Borough of Manhattan, The City of New York, on January 15, 2010
in such coin or currency of the United States of America as at the time of
payment shall be legal tender for the payment of public and private debts, and
to pay interest on said principal sum semiannually on January 15 and July 15 of
each year, commencing July 15, 2005 (each an "Interest Payment Date"), at said
office or agency, in like coin or currency, at the rate per annum specified in
the title hereof, from January 15 and July 15, as the case may be, next
preceding the date of this Note to which interest on the Notes has been paid or
duly provided for (unless the date hereof is the date to which interest on the
Notes has been paid or duly provided for, in which case from the date of this
Note), or if no interest has been paid on the Notes or duly provided for, from
November 22, 2004 until payment of said principal sum has been made or duly
provided for. Notwithstanding the foregoing, if the date hereof is after the 1st
day of any January or July and before the next succeeding January 15 and July
15, this Note shall bear interest from such January 15 or July 15, as the case
may be; provided, however, that if the Company shall default in the payment of
interest due on such January 15 or July 15, then this Note shall bear interest
from the next preceding January 15 or July 15 to which interest on the Notes has
been paid or duly provided for, or, if no interest has been paid on the Notes or
duly provided for, from November 22, 2004. The interest so payable, and
punctually paid or duly provided for, on any January 15 or July 15 will, except
as provided in the Indenture dated as of October 1, 1997, as supplemented to the
date of this Note (herein called the "Indenture"), duly executed and delivered
by the Company and The Bank of New York, as Trustee (herein called the
"Trustee"), be paid to the Person in whose name this Note (or one or more
Predecessor Securities) is registered at the close of business on the next
preceding January 1 or July 1, as the case may be (herein called the "Regular
Record Date"), whether or not a Business Day, and may, at the option of the
Company, be paid by check mailed to the registered address of such Person. Any
such interest which is payable, but

<PAGE>

is not so punctually paid or duly provided for, shall forthwith cease to be
payable to the registered Holder on such Regular Record Date and may be paid
either to the Person in whose name this Note (or one or more Predecessor
Securities) is registered at the close of business on a Special Record Date for
the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of the Notes not less than 10 days prior to
such Special Record Date, or may be paid at any time in any other lawful manner
not inconsistent with the requirements of any securities exchange on which the
Notes may be listed and upon such notice as may be required by such exchange, if
such manner of payment shall be deemed practical by the Trustee, all as more
fully provided in the Indenture. Notwithstanding the foregoing, in the case of
interest payable at Stated Maturity, such interest shall be paid to the same
Person to whom the principal hereof is payable. Interest on the Notes will be
computed on the basis of a 360-day year consisting of twelve 30-day months.

      The Bank of New York will be the Paying Agent and the Security Registrar
with respect to the Notes. The Company reserves the right at any time to vary or
terminate the appointment of any Paying Agent or Security Registrar, to appoint
additional or other Paying Agents and other Security Registrars which may
include the Company, and to approve any change in the office through which any
Paying Agent or Security Registrar acts; provided that there will at all times
be a Paying Agent in The City of New York and there will be no more than one
Security Registrar for the Notes.

      This Note is one of the duly authorized issue of debentures, notes, bonds
or other evidences of indebtedness (hereinafter called the "Securities") of the
Company, of the series hereinafter specified, all issued or to be issued under
and pursuant to the Indenture, to which Indenture and any other indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, obligations, duties and immunities thereunder of
the Trustee and any agent of the Trustee, any Paying Agent, the Company and the
Holders of the Securities and the terms upon which the Securities are issued and
are to be authenticated and delivered.

      The Securities may be issued in one or more series, which different series
may be issued in various aggregate principal amounts, may mature at different
times, may bear interest (if any) at different rates, may be subject to
different redemption provisions (if any), may be subject to different covenants
and Events of Default and may otherwise vary as provided or permitted in the
Indenture. This Note is one of the series of Securities of the Company issued
pursuant to the Indenture and designated as the 4.50% Senior Notes due January
15, 2010 (herein called the "Notes").

      The Notes will be redeemable as a whole at any time or in part from time
to time, at the option of the Company, at a redemption price equal to the
greater of (i) 100% of the principal amount of such Notes and (ii) the sum of
the present values of the remaining scheduled payments of principal and interest
thereon from the redemption date to January 15, 2010, discounted to the
redemption date on a semiannual basis (assuming a 360 day year consisting of
twelve 30-day months) at the Treasury Rate (as defined below) plus 20 basis
points, plus, in either case, any interest accrued but not paid to the date of
redemption. Notice of any redemption will be mailed at least 30 days but no more

<PAGE>

than 60 days before the redemption date to each holder of the Notes to be
redeemed. Unless the Company defaults in payment of the redemption price, on and
after the redemption date interest will cease to accrue on the Notes or portions
thereof called for redemption. The Notes will not be subject to any sinking fund
provision.

      "Treasury Rate" means, with respect to any redemption date for the Notes,
(i) the yield, under the heading which represents the average for the
immediately preceding week, appearing in the most recently published statistical
release designated "H.15(519)" or any successor publication which is published
weekly by the Board of Governors of the Federal Reserve System and which
establishes yields on actively traded United States Treasury securities adjusted
to constant maturity under the caption "Treasury Constant Maturities," for the
maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the maturity date, yields for the two
published maturities most closely corresponding to the Comparable Treasury Issue
shall be determined and the Treasury Rate shall be interpolated or extrapolated
from such yields on a straight line basis, rounding to the nearest month), or
(ii) if such release referred to in clause (i) (or any successor release) is not
published during the week preceding the calculation date or does not contain the
yields referred to above, the rate per year equal to the semiannual equivalent
yield maturity of the Comparable Treasury Issue, calculated using a price for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption date. The
Treasury Rate shall be calculated on the third Business Day preceding the
redemption date.

      "Comparable Treasury Issue" means the United States Treasury security
selected by an "Independent Investment Banker" as having a maturity comparable
to the remaining term of the Notes to be redeemed that would be utilized, at the
time of selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable maturity to the
remaining term of such Notes.

      "Independent Investment Banker" means, with respect to any redemption date
for the Notes, UBS Securities LLC, and its successors or, if such firm or any
successor to such firm, as the case may be, is unwilling or unable to select the
Comparable Treasury Issue, an independent investment banking institution of
national standing appointed by the Trustee after consultation with the Company.

      "Comparable Treasury Price" means, with respect to any redemption date for
the Notes, (i) the average of four Reference Treasury Dealer Quotations (as
defined below) for the redemption date, after excluding the highest and lowest
such Reference Treasury Dealer Quotations, or (ii) if the Trustee obtains fewer
than four such Reference Treasury Dealer Quotations, the average of all such
quotations obtained.

      "Reference Treasury Dealer" means UBS Securities LLC and three other
primary U.S. Government securities dealers in the United States (each, a
"Primary Treasury Dealer") appointed by the Trustee in consultation with the
Company. If any of the foregoing shall cease to be a Primary Treasury Dealer,
the Company shall substitute therefor another Primary Treasury Dealer.

<PAGE>

      "Reference Treasury Dealer Quotations" means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by
the Trustee, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in
writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m. on the
third Business Day preceding such redemption date.

      If an Event of Default with respect to the Notes shall occur and be
continuing, the principal of all of the Notes may be declared due and payable in
the manner, with the effect and subject to the conditions provided in the
Indenture.

      The Indenture permits, with certain exceptions as therein provided, the
Company and the Trustee to enter into supplemental indentures to the Indenture
for the purpose of adding any provisions to or changing in any manner or
eliminating any of the provisions of the Indenture or of modifying in any manner
the rights of the Holders of the Securities of each series under the Indenture
with the consent of the Holders of not less than a majority in principal amount
of the Securities at the time Outstanding of each series to be affected thereby
on behalf of the Holders of all Securities of such series, to waive compliance
by the Company with certain provisions of the Indenture and certain past
defaults and their consequences with respect to such series under the Indenture.
Any such consent or waiver by the Holder of this Note shall be conclusive and
binding upon such Holder and upon all future Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange here for or
in lieu hereof, whether or not notation of such consent or waiver is made upon
this Note or such other Notes.

      No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the place, rate and respective times and in the coin or currency herein and in
the Indenture prescribed.

      As provided in the Indenture and subject to the satisfaction of certain
conditions therein set forth, including the deposit of certain trust funds in
trust, the Company shall be deemed to have paid and discharged the entire
indebtedness represented by, and the obligations under, the Securities of any
series and to have satisfied all the obligations (with certain exceptions) under
the Indenture relating to the Securities of such series.

      The Notes are issuable in registered form without coupons in denominations
of $1,000 and any integral multiple of $1,000. Notes may be exchanged for a like
aggregate principal amount of Notes of other authorized denominations at the
office or agency of the Company in the Borough of Manhattan, The City of New
York, designated for such purpose or at any of the Company's other offices or
agencies as the Company may maintain for such purpose and in the manner and
subject to the limitations provided in the Indenture.

      Upon due presentment for registration of transfer of this Note at the
office or agency of the Company in the Borough of Manhattan, The City of New
York

<PAGE>

designated for such purpose or at any of the Company's other offices or agencies
as the Company may maintain for such purpose, a new Note or Notes of authorized
denominations for a like aggregate principal amount will be issued to the
transferee in exchange therefor, subject to the limitations provided in the
Indenture.

      No charge shall be made for any such transfer or exchange, but the Company
may require payment of a sum sufficient to cover any tax or other governmental
charge imposed in connection therewith.

      The Company, the Trustee and any agent of the Company or the Trustee may
treat the Person in whose name this Note is registered as the owner hereof for
all purposes, whether or not this Note is overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

      Unless otherwise defined herein, all terms used in this Note which are
defined in the Indenture shall have the meanings assigned to them in the
Indenture.

      This Note shall be construed in accordance with and governed by the laws
of the State of New York.

      Unless the certificate of authentication hereon has been manually executed
by or on behalf of the Trustee under the Indenture, this Note shall not be
entitled to any benefits under the Indenture, or be valid or obligatory for any
purpose.

<PAGE>

      IN WITNESS WHEREOF, CLEAR CHANNEL COMMUNICATIONS, INC. has caused this
Note to be duly executed.

                                            CLEAR CHANNEL COMMUNICATIONS, INC.

                                            by _________________________________
                                                  Name:
                                                  Title:

[Company Seal]                              by _________________________________
                                                  Name:
                                                  Title:

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

      This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.

                                            THE BANK OF NEW YORK,
                                                as Trustee,

Dated: _____________                        by _________________________________
                                                     Authorized Signatory

<PAGE>

                                  ABBREVIATIONS

      The following abbreviations, when used in the inscription on the face of
this instrument, shall be construed as though they were written out in full
according to applicable laws or regulations:

         TEN COM--as tenants in common
         TEN ENT--as tenants by the entireties
         JT TEN--as joint tenants with right of survivorship and not as tenants
         in common
         UNIF GIFT MIN ACT--...........Custodian.........

                                 (Cust)          (Minor)
                       Under Uniform Gifts to Minors Act
                       -----------------------------------------------
                                           (State)

                    Additional abbreviations may also be used
                          though not in the above list.

      FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s), and
transfer(s) unto

___________________________________
:                                               :
:                 :
__________________
PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE:

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF
ASSIGNEE:
__________________________________________________________

<PAGE>

________________________________________________________ the within Note and all
rights thereunder, hereby irrevocably constituting and appointing
_________________________________ attorney to transfer said Note on the books of
the Company, with full power of substitution in the premises.

Dated: _______________________              _________________________________
                                            Signature Guaranty
______________________________
          Signature

(Signature must correspond with             Signatures must be guaranteed by
the name as written upon the                an "eligible guarantor
face of the within instrument in            institution" meeting the
every particular, without alteration or     requirements of the Registrar,
enlargement or any change whatever.)        which requirements
                                            include membership or
                                            participation in the Security
                                            Transfer Agent Medallion
                                            Program ("STAMP") or
                                            such other "signature
                                            guarantee program" as may
                                            be determined by the Registrar in
                                            addition to, or in substitution
                                            for, STAMP, all in accordance
                                            with the Securities Exchange Act of
                                            1934, as amended.

<PAGE>

                                   ARTICLE IV

                             Original Issue of Notes

      SECTION 4.01. Notes in the aggregate principal amount equal to
$250,000,000 may, upon execution of this Eighteenth Supplemental Indenture, be
executed by the Company and delivered to the Trustee for authentication, and the
Trustee shall thereupon authenticate and make available for delivery said Notes
to or upon a Company Order.

                                    ARTICLE V

                            Miscellaneous Provisions

      SECTION 5.01. Except as otherwise expressly provided in this Eighteenth
Supplemental Indenture or in the forms of the Notes or otherwise clearly
required by the context hereof or thereof, all terms used herein or in said
forms of the Notes that are defined in the Indenture shall have the several
meanings respectively assigned to them thereby.

      SECTION 5.02. The Indenture, as supplemented by this Eighteenth
Supplemental Indenture, is in all respects ratified and confirmed. This
Eighteenth Supplemental Indenture shall be deemed part of the Indenture in the
manner and to the extent herein and therein provided.

      SECTION 5.03. The recitals herein contained are made by the Company and
not by the Trustee, and the Trustee assumes no responsibility for the
correctness thereof. The Trustee makes no representation as to the validity or
sufficiency of this Eighteenth Supplemental Indenture.

      SECTION 5.04. This Eighteenth Supplemental Indenture may be executed in
any number of counterparts each of which shall be an original; but such
counterparts shall together constitute but one and the same instrument.

<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Eighteenth Supplemental Indenture to be duly executed as of the day and year
first above written.

                          CLEAR CHANNEL COMMUNICATIONS, INC.

                          by:      /s/  Mark P. Mays
                              -------------------------------------------------
                                   Name: Mark P. Mays
                                   Title: President and Chief Executive Officer

                          THE BANK OF NEW YORK, as Trustee

                          by:      /s/  Van K. Brown
                              -------------------------------------------------
                                   Name: Van K. Brown
                                   Title: Vice Presidentexv10w37w1

 

Exhibit 10.37.1

LEASE AGREEMENT ADDENDUM NO. ONE

     WHEREAS, BIV Group, a California general partnership (“Lessor” or
“Landlord”) and Cholestech Corporation, a California corporation (“Lessee” or
“Tenant”) entered into a written Lease Agreement on or about July 23, 2001, for
an industrial building containing approximately 68,816 square feet situated at
and commonly known as 3233 Investment Boulevard, in Hayward, California,
94545-3808; and

     WHEREAS, the original term of the Lease Agreement began April 1, 2002, and
runs for a period of sixty (60) months with the original Term due to expire on
March 31, 2007, providing for one (1) option to extend the Term of the Lease
for a period of three (3) years (“Lease” or “Lease Agreement”);

     WHEREAS, the both parties desire to extend the original term of the Lease
a period of ten (10) years, so that the term of the Lease will now consist of a
fifteen (15) year period, leaving in place the one (1) option to extend the
Term of the Lease a period of three (3) years;

     NOW, THEREFORE, the parties agree as follows:

     1. Term. The initial term of the Lease shall be extended a period of ten
(10) years, to commence on April 1, 2007, and expire on March 31, 2017
(“Initial Extended Term”). The last paragraph of Paragraph 38 of the Lease is
hereby amended to read as follows: Notwithstanding anything to the contrary
contained in this Paragraph 38 of this Lease, the Basic Rent for the Option
Term may be no less than the Basic Rent during the last year of the Initial
Extended Term of this Lease unless Landlord agrees in writing. If the
establishment of a new Basic Rent for the Option Term is determined by
appraisal as set forth above, and if Tenant does not, in its sole discretion,
approve the Basic Rent established by such appraisal, then Tenant may by
written notice to Landlord no later than September 30, 2016, rescind the
exercise of its Option to extend the Term of this Lease for three (3) years.
If Tenant properly rescinds the exercise of its Option to extend the Term of
this Lease for three (3) years, then Landlord agrees that Tenant shall have the
right to extend the term of this Lease for one additional period of up to six
(6) months upon the same terms and provisions of this Lease at the same Basic
Rent as the last month of the Term of this Lease. Tenant shall notify Landlord
of the exact number of full months (not to exceed six (6) months) that Tenant
elects to extend the Term of this Lease by written notice to Landlord no later
than September 30, 2016.

     2. Basic
Rent. The monthly Basic Rent during the Initial Extended Term
shall be payable to Landlord without deduction, offset, prior notice, or
demand, the sum of Six Million, Six-Hundred-Six Thousand, Three Hundred and
Thirty-Six Dollars ($6,606,336.00) as follows:

 

 

INITIAL EXTENDED TERM

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Year
	 	Lease Period
	 	Base Rent/sft
	 	Monthly Rent
	 	Yearly Rent

	6
	 	Apr. 1st 2007 - Mar. 31st 2008	 	$	0.69	 	 	$	47,483.04	 	 	$	569,796.48	 
	7
	 	Apr. 1st 2008 - Mar. 31st 2009	 	$	0.71	 	 	$	48,859.36	 	 	$	586,312.32	 
	8
	 	Apr. 1st 2009 - Mar. 31st 2010	 	$	0.74	 	 	$	50,923.84	 	 	$	611,086.08	 
	9 
	 	Apr. 1st 2010 - Mar. 31st 2011	 	$	0.76	 	 	$	52,300.16	 	 	$	627,601.92	 
	10
	 	Apr. 1st 2011 - Mar. 31st 2012	 	$	0.78	 	 	$	53,676.48	 	 	$	644,117.76	 
	11
	 	Apr. 1st 2012 - Mar. 31st 2013	 	$	0.81	 	 	$	55,740.96	 	 	$	668,891.52	 
	12
	 	Apr. 1st 2013 - Mar. 31st 2014	 	$	0.84	 	 	$	57,805.44	 	 	$	693,665.28	 
	13
	 	Apr. 1st 2014 - Mar. 31st 2015	 	$	0.86	 	 	$	59,181.76	 	 	$	710,181.12	 
	14
	 	Apr. 1st 2015 - Mar. 31st 2016	 	$	0.89	 	 	$	61,246.24	 	 	$	734,954.88	 
	15
	 	Apr. 1st 2016 - Mar. 31st 2017	 	$	0.92	 	 	$	63,310.72	 	 	$	759,728.64	 

     3. Additional
Rent. The Operating Expense Cap of $0.20 per square foot
set forth in Paragraph 4 of the Lease Agreement shall remain in effect through
December 31, 2007, at which time the cap shall expire. There shall be no cap
throughout the balance of the Initial Extended Term, i.e. January 1, 2008,
through and including March 31, 2017, on the expenses of operation, management
and maintenance of the common areas of the complex, premises and building set
forth in Paragraphs 4 and 7 of the Lease Agreement. Notwithstanding any other
provision of the Lease or this Addendum to the contrary, Additional Rent shall
not include and Tenant shall in no event have any obligation to perform or to
pay directly, or to reimburse Landlord for all or any portion of the following
repairs, maintenance, improvements, replacements, premiums, claims, losses,
fees, charges, costs and expenses (collectively “Costs”): (a) Costs occasioned
by the act, omission or violation of any Law by Landlord or its agents,
employees or contractors; (b) Costs occasioned by fire, acts of God or other
casualties except to the extent of any applicable insurance deductibles, or by
the power of eminent domain; (c) Costs to correct any construction defect in
the Premises or the Complex or to comply with any covenant, condition,
restriction, underwriter’s requirement or law applicable to the Premises or the
Complex on the date of the commencement of the original Term of the Lease; (d)
Costs incurred in connection with the violation by Landlord of the terms and
conditions of any lease or other agreement; (e) insurance Costs for coverage
not customarily paid by tenants of similar projects in the vicinity of the
Premises, Costs for earthquake, pollution or flood insurance, insurance
deductibles in excess of $10,000, and co-insurance payments; (f) Costs incurred
in connection with the presence of any Hazardous Material, except to the extent
caused by the release of the Hazardous Material in question by Tenant; (g)
Costs in the nature of depreciation, amortization or other expense reserves;
(h) Costs to repair, replace, restore or maintain the structural portions of
the Premises (including the structure of the roof, but excluding the roof
membrane); (i) lease payments and Costs for machinery and equipment, such as
air conditioners, elevators and the like; (j) compensation for any employee of
Landlord or any compensation retained by Landlord or its affiliates for
management and administration of the Premises or the Complex in excess of the
reasonable management fee which would be charged by an unaffiliated
professional management service for operation of comparable projects in the
vicinity; and (k) Costs which could properly be capitalized under generally
accepted accounting principles, except to the extent amortized over the useful
life of the capital item in question at the interest rate as set forth in
Paragraph 7 of the Lease. Tenant shall have the right, at Tenant’s expense, to
audit Additional Rent from time to time. If the results of such audit disclose
that Tenant has overpaid Additional Rent by more than ten percent

 

 

(10%) of the accurate amount of Additional Rent payable by Tenant, then
Landlord shall pay the cost of such audit.

     4. Tenant
Improvement & Reimbursement. Tenant desires to construct or
install certain tenant improvements; specifically, the creation of an outdoor
patio and dining area. Said tenant improvement desired by Tenant shall be
subject to the provisions of Paragraph 9 of the Lease and shall be in
compliance with all applicable building codes, applicable laws, covenants or
restrictions of record, regulations and ordinances in effect at the time of
such improvement and construction. Landlord shall reimburse Tenant for the
costs incurred in the building of said outdoor patio and dining area in an
amount not to exceed the sum of Thirty-Five Thousand Dollars ($35,000).

     5. Corporate Authority. As provided within Paragraph 37 of the Lease
Agreement, within 30 days of execution this Addendum, Tenant shall deliver to
Landlord a certified copy of a resolution of the Board of Directors of Tenant
authorizing or ratifying the execution of this Addendum to the Lease Agreement.

     6. Capitalized Terms. Except as otherwise expressly provided herein, the
capitalized terms and phrases in this Lease Addendum shall have the same
meanings as are given such terms in the Lease Agreement.

     7. Interpretation. Although this Addendum has been prepared primarily by
Landlord’s legal counsel, Tenant or its legal counsel have negotiated or had a
reasonable opportunity to negotiate the terms of such Addendum. Accordingly,
the doctrine that ambiguities in a written agreement shall be construed against
the drafting party shall not be employed in connection with this Addendum.
This Addendum shall be construed or interpreted in accordance with its fair
meaning.

     8. Modification. Except as otherwise modified above, the Lease shall
remain unmodified and in full force and effect. In the event of any conflict
or inconsistency between the terms of this Addendum and the Lease, the terms of
this Addendum shall control.

     9. Waiver of Subrogation. Landlord and Tenant hereby release each other
and their respective agents, employees, successors, assignees and sublessees
from all liability for injury to any person or damage to any property that is
caused by or results from a risk which is actually insured against, which is
required to be insured against under the Lease, or which would normally be
covered by “all risk” property insurance, without regard to the negligence or
willful misconduct of the person or entity so released. All of Landlord’s and
Tenant’s repair and indemnity obligations under the Lease shall be subject to
the waiver and release contained in this paragraph. Each party shall cause
each insurance policy it obtains to provide that the insurer thereunder waives
all recovery by way of subrogation as required herein in connection with any
injury or damage covered by such policy.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Lease Addendum
No. One as of the dates below.

	 	 	 
	LANDLORD:

	 	BIV GROUP, a California corporation
	 
	Dated: 11/19/04

	 	By: /s/ [unintelligible]
	
 

	 	
 
	 
	Dated:

	 	By: 
	
 

	 	
 
	 
	TENANT:

	 	CHOLESTECH CORPORATION,

a California corporation
	 
	Dated: 11/18/04

	 	By: /s/ Donald P. Wood
	
 

	 	
 
	

	 	Vice President — Operations
	 
	Dated: 11/18/04

	 	By: /s/ Warren E. Pinckert II
	
 

	 	
 
	 

	 	President and Chief Executive Officer

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