FiberTower CORP
EX-10
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<TYPE>EX-10.1
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<FILENAME>a06-22468_6ex10d1.htm
<DESCRIPTION>EX-10
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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.1</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">$350,000,000</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FiberTower Corporation</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9.00% Convertible Senior Secured Notes due 2012</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PURCHASE AGREEMENT</font></u></b></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">October 25, 2006</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">JEFFERIES &amp; COMPANY, INC.<br>
DEUTSCHE BANK SECURITIES INC.<br>
c/o JEFFERIES &amp; COMPANY, INC.<br>
&nbsp;&nbsp; &nbsp;&nbsp; 520 Madison Avenue<br>
&nbsp;&nbsp; &nbsp;&nbsp; New York, New York 10022</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower Corporation, a
Delaware corporation (the &#147;<u>Company</u>&#148;), and each of the Guarantors (as
hereinafter defined)&#160; hereby agree with
you as follows:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Issuance of Offered Securities and PIK
Additional Securities</u></font></b>.&nbsp;&nbsp; Subject to the terms and
conditions herein contained, the Company proposes to issue and sell to
Jefferies &amp; Company, Inc. and Deutsche Bank Securities Inc. (the &#147;<u>Initial Purchasers</u>&#148;), $350,000,000
aggregate principal amount (each a &#147;<u>Firm Note</u>&#148; and, collectively, the &#147;<u>Firm
Notes</u>&#148; and, together with the Guarantees (as hereinafter defined) thereon,
the &#147;<u>Firm Securities</u>&#148;) of 9.00% Convertible Senior Secured Notes of the
Company due 2012 (each a &#147;<u>Note</u>&#148; and, collectively, the &#147;<u>Notes</u>&#148;
and, together with the Guarantees thereon, the &#147;<u>Securities</u>&#148;).&#160; In addition, the Company has granted to the
Initial Purchasers an option to purchase up to $52,500,000 aggregate principal
amount of&#160; additional Notes (each an &#147;<u>Optional
Additional Note</u>&#148; and, collectively, the &#147;<u>Optional Additional Notes</u>&#148;
and, together with the Guarantees thereon, the &#147;<u>Optional Additional
Securities</u>&#148;), all as provided in Section 3 hereof.&#160; The Firm Notes and, if and to the extent
issued, the Optional Additional Notes, are collectively called the &#147;<u>Offered
Notes</u>&#148; and the Firm Securities and, if and to the extent issued, the
Optional Additional Securities, are collectively called the &#147;<u>Offered
Securities</u>.&#148;&#160; The Offered Securities
will be issued pursuant to an indenture (the &#147;<u>Indenture</u>&#148;), to be dated as of the First Closing Date (as
hereinafter defined), by and among the Company, the Guarantors party thereto,
and Wells Fargo&#160; Bank, National
Association, as trustee (the &#147;<u>Trustee</u>&#148;).&#160; Pursuant to the terms of the Indenture and
the Notes, interest on the Notes is payable in cash or, if no Default has
occurred and is continuing, then on any or all of the four interest payment
dates after the fourth interest payment date, the Company may elect to make
payments of interest in additional Notes in a principal amount equal to such interest
amount (each a &#147;<u>PIK Additional Note</u>&#148; and, collectively, the &#147;<u>PIK
Additional Notes</u>&#148; and, together with the Guarantees thereon, the &#147;<u>PIK
Additional Securities</u>&#148;).&#160; Jefferies
&amp; Company, Inc. has agreed to act as representative of the several Initial
Purchasers (in such capacity, the &#147;<u>Representative</u>&#148;) in connection with
the offering and sale of the Offered Securities.&#160; Capitalized terms used, but not defined
herein, shall have the meanings set forth in the &#147;Description of the Notes&#148;
section of the Time of Sale Document (as hereinafter defined) and the Final
Offering Memorandum (as hereinafter defined).</p>

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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offered Securities
and the PIK Additional Securities will be convertible into shares of the
Company&#146;s capital stock, par value $0.001 per share (the &#147;<u>Common Stock</u>&#148;),
in accordance with the terms of the Securities and the Indenture.&#160; The shares of Common Stock issuable upon
conversion of the Offered Securities and the PIK Additional Securities are
herein referred to as the &#147;<u>Shares</u>.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offered Securities
will be offered and sold to the Initial Purchasers pursuant to an exemption
from the registration requirements under the Securities Act of 1933, as amended
(the &#147;<u>Act</u>&#148;). Upon
original issuance thereof, and until such time as the same is no longer
required under the applicable requirements of the Act, the Securities shall
bear the legends set forth in the final offering memorandum, dated the date
hereof (the &#147;<u>Final Offering Memorandum</u>&#148;).&#160; In connection with the offer and sale of the
Offered Securities (the &#147;<u>Offering</u>&#148;),&#160; at or prior to the time when sales of the
Offered Securities were first made (the &#147;<u>Time of Sale</u>&#148;), the Company
prepared (i) a preliminary offering memorandum, dated October 23, 2006 (the &#147;<u>Preliminary Offering Memorandum</u>&#148;)
and (ii) a pricing term sheet, attached hereto as <u>Schedule I</u>, which
includes pricing terms and other information with respect to the Offered
Securities (the &#147;<u>Pricing Supplement</u>&#148;). The Preliminary Offering
Memorandum and the Pricing Supplement are collectively referred to herein as
the &#147;<u>Time of Sale Document</u>.&#148;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Terms of Offering</u></font></b>.&nbsp;&nbsp; The Initial
Purchasers have advised the Company, and the Company understands, that the
Initial Purchasers will make offers to sell (the &#147;<u>Exempt Resales</u>&#148;) some or all of the Offered Securities
purchased by the Initial Purchasers hereunder on the terms set forth in the
Final Offering Memorandum, as amended or supplemented, to persons (the &#147;<u>Subsequent Purchasers</u>&#148;) whom the
Initial Purchasers (i) reasonably believe to be &#147;qualified institutional buyers&#148;
(&#147;<u>QIBs</u>&#148;) as defined in
Rule 144A under the Act, as such may be amended from time to time, (ii)
reasonably believe (based upon written representations made by such persons to
the Initial Purchasers) to be institutional &#147;accredited investors&#148; as defined
in Rule 501(a)(1), (2), (3) or (7) under the Act (&#147;Accredited Investors&#148;) or
(iii) reasonably believe to be non-U.S. persons in reliance upon Regulation S
under the Act.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the Indenture, all existing and future
Domestic Restricted Subsidiaries of the Company shall fully and unconditionally
guarantee, on a senior secured basis, to each holder of the Notes and the
Trustee, the payment and performance of the Company&#146;s obligations under the
Indenture and the Notes (each such subsidiary being referred to herein as a &#147;<font style="text-decoration:underline;"><u>Guarantor</u></font>&#148; and each such guarantee being referred
to herein as a &#147;<u>Guarantee&#148;</u>). <u>&#160;</u></font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the terms of the Collateral Agreements,
all of the obligations under the Securities and the Indenture will initially be
secured, to the extent permitted by law, by a first priority lien and security
interest in substantially all of the assets of the Company and its existing and
future Domestic Restricted Subsidiaries, other than the Excluded Assets
(subject to a prior ranking lien by the lenders under the Working Capital
Facility and <i>pari passu </i>liens on Subsidiaries
that do not hold the Company&#146;s 24GHz or 39GHz FCC licenses securing any Pari
Passu Indebtedness), and a first priority lien and security interest in the
capital stock of the&#160; Company&#146;s existing
and future Domestic Restricted Subsidiaries (subject to a prior ranking lien by
the lenders under the Working Capital Facility and <i>pari passu </i>liens
on Subsidiaries that do not hold the Company&#146;s 24GHz or 39GHz FCC licenses
securing any Pari Passu Indebtedness).&#160;
In addition, the Offered Securities will be secured by a first priority
lien and security interest in amounts deposited in the Escrow Account (as
hereinafter defined), which lien and security interest will secure no
indebtedness other than the Securities.&#160;
The PIK Additional Securities, if and to the extent issued, will be
secured, equally and ratably, with the Securities.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Holders of the Offered Securities and PIK Additional
Securities (including Subsequent Purchasers) will have the registration rights
set forth in a registration rights agreement applicable to the Offered
Securities and the PIK Additional Securities (the &#147;<u>Registration Rights Agreement</u>&#148;), to be executed and delivered
by the Company and the Guarantors on the First Closing Date.&#160; Pursuant to the Registration Rights
Agreement, the Company and the Guarantors will agree, among other things, to </font></p>


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<p style="margin:0pt 0pt 12.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i) file with the Securities and Exchange Commission
(the &#147;<u>SEC</u>&#148;), under the
circumstances set forth in the Registration Rights Agreement, a shelf
registration statement pursuant to Rule 415 under the Act (the &#147;<u>Shelf Registration Statement</u>&#148;),
relating to the resale of the Offered Securities and any PIK Additional
Securities that could be issued by the Company pursuant to the terms of the
Securities and the Shares that may be issued upon the conversion of the Offered
Securities and the PIK Additional Securities, and (ii) use their commercially
reasonable efforts to cause such Shelf Registration Statement to be declared
effective.&#160; If the Company fails to
satisfy its obligations under the Registration Rights Agreement, it will be
required to pay liquidated damages to the holders of the Offered Securities and
the PIK Additional Securities under certain circumstances.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This Agreement, the Indenture, the Collateral
Agreements, the Registration Rights Agreement, the Escrow Agreement (as defined
below), the Offered Securities and all agreements ancillary thereto are
collectively referred to herein as the &#147;<u>Documents</u>.&#148;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Purchase, Sale and Delivery</u></font></b>.</p>

<p style="margin:0pt 0pt 12.0pt;text-indent:71.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a) <i>The Firm Securities;
First Closing Date.&nbsp;&nbsp; </i>On the basis of the representations,
warranties, agreements and covenants herein contained and subject to the terms
and conditions herein set forth, the Company and the Guarantors, jointly and
severally, agree to issue and sell to the Initial Purchasers, and the Initial
Purchasers agree, severally and not jointly, to purchase from the Company and
the Guarantors, the respective aggregate principal amount of Firm Securities
set forth opposite the Initial Purchasers&#146; names on <u>Schedule II</u> attached
hereto at a purchase price of 97.0% of the aggregate principal amount thereof,
plus accrued interest, if any, from the First Closing Date.&#160; Delivery to the Initial Purchasers of and
payment for the Firm Securities shall be made at a closing to be held at 10:00
a.m., New York time on November 9, 2006 at the New York offices of Paul,
Hastings, Janofsky &amp; Walker LLP or such other time and date not later than
five business days thereafter as the Representative and the Company shall agree
upon (the time and date of such closing are called the &#147;<u>First Closing Date</u>&#148;).&#160; The Company and the Guarantors hereby
acknowledge that circumstances under which the Representative may provide
notice to postpone the First Closing Date as originally scheduled include, but
are in no way limited to, any determination by the Company or the
Representative to recirculate to the public copies of an amended or
supplemented Time of Sale Document or Final Offering Memorandum or a delay as
contemplated by the provisions of Section&nbsp;11.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:90.0pt;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">(b)<i>&#160; </i></font><i>The Optional Additional Securities; Option Closing Date</i>.&nbsp;&nbsp; In
addition, on the basis of the representations, warranties and agreements herein
contained, and upon the terms but subject to the conditions herein set forth,
the Company and the Guarantors, jointly and severally, hereby grant an option
to the several Initial Purchasers to purchase, severally and not jointly, up to
$52,500,000 aggregate principal amount of the Optional Additional Securities
from the Company and the Guarantors at the purchase price equal to 97.0% of the
aggregate principal amount thereof, plus accrued interest if any, from the
First Closing Date.&#160; The option granted
hereunder may be exercised at any time and from time to time in whole or in
part upon notice by the Representative to the Company,&#160; which notice may be given at any time within
30&nbsp;days from the date of this Agreement.&#160;
Such notice shall set forth (i)&nbsp;the aggregate principal amount of
Optional Additional Securities as to which the Initial Purchasers are
exercising the option, (ii)&nbsp;the names and denominations in which the
certificates for the Optional Additional Securities are to be registered and
(iii)&nbsp;the time, date and place at which such certificates will be
delivered (which time and date may be simultaneous with, but not earlier than,
the First Closing Date; and in the event that such time and date are
simultaneous with the First Closing Date, the term &#147;<u>First Closing Date</u>&#148;
shall refer to the time and date of delivery of certificates for the Firm
Securities and such Optional Additional Securities ).&#160; Any such time and date of delivery, if
subsequent to the First Closing Date, is called an &#147;<u>Option Closing Date</u>&#148;
and shall be determined by the Representative and shall not be earlier than
three nor later than five full business days after delivery of such notice of
exercise.&#160; The First Closing Date and the
Option Closing Date are each referred to herein as a &#147;<u>Closing Date</u>.&#148;&#160; If any Optional Additional&#160; </font></p>


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<p style="margin:0pt 0pt 12.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities are to be purchased, (a)&nbsp;each Initial
Purchaser agrees, severally and not jointly, to purchase the respective
aggregate principal amount of Optional Additional Securities that bears the
same proportion to the total aggregate principal amount of Optional Additional
Securities to be purchased as the aggregate principal amount of Firm Securities
set forth on <u>Schedule&nbsp;II</u> attached hereto opposite the name of such
Initial Purchaser bears to the total aggregate principal amount of Firm
Securities and (b)&nbsp;the Company and the Guarantors, jointly and severally,
agree to sell such Optional Additional Securities to the Initial Purchasers.&#160; The Representative may cancel the option at
any time prior to its expiration by giving written notice of such cancellation
to the Company.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c) <i>Payment for the Offered
Securities.&nbsp;&nbsp; </i>The Company shall deliver to the Initial
Purchasers one or more certificates representing the Offered Securities in
definitive form, registered in such names and denominations as the Initial
Purchasers may request, against payment by the Initial Purchasers of the
purchase price therefor by immediately available Federal funds bank wire
transfer to such bank account or accounts as the Company shall designate to the
Initial Purchasers at least two business days prior to the applicable Closing
Date.&#160; The certificates representing the
Offered Securities in definitive form shall be made available to the Initial
Purchasers for inspection at the New York offices of Paul, Hastings, Janofsky
&amp; Walker LLP (or such other place as shall be reasonably acceptable to the
Initial Purchasers) not later than 10:00 a.m. one business day immediately
preceding the applicable Closing Date.&#160;
Offered Securities to be represented by one or more definitive global
securities in book-entry form will be deposited on the applicable Closing Date,
by or on behalf of the Company, with The Depository Trust Company (&#147;<u>DTC</u>&#148;)
or its designated custodian, and registered in the name of Cede &amp; Co.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On each applicable Closing Date, the Company will
deposit a portion of the net proceeds realized from the sale of the Offered
Securities into an escrow account (the &#147;<u>Escrow Account</u>&#148;) pursuant to the
terms of an Escrow Agreement (the &#147;<u>Escrow Agreement</u>&#148;) to be entered into
by and among the Company, the Guarantors and an escrow agent, to be held by
such escrow agent for the benefit of the holders of the Offered Securities in
an amount that, together with the proceeds from the investment thereof, will be
sufficient to make the first four interest payments on the Offered Securities
being sold on such Closing Date.&#160; The
escrowed interest may only be used to make such interest payments, or to make
such other payments as required by the Indenture.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations and Warranties of the Company and the Guarantors</u></font></b>.&#160; The Company and the Guarantors, jointly and
severally, represent and warrant to the Initial Purchasers that, as of the Time
of Sale, as of the date hereof, as of the First Closing Date and as of each
Option Closing Date, if any:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>(i)
Neither the Time of Sale Document, nor any amendment or supplement thereto, as
of the Time of Sale, as of the date hereof and at all times subsequent thereto
up to each Closing Date, contained, contains or will contain any untrue
statement of a material fact or omitted, omits or will omit to state a material
fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, and (ii) the Final
Offering Memorandum, as of the date hereof and at all times subsequent thereto
up to each Closing Date, as then amended or supplemented by the Company, if
applicable, does not and will not contain any untrue statement of a material
fact or omits or will omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were made,
not misleading, except that the representations and warranties set forth in
this Section 4(a) do not apply to statements or omissions made in reliance upon
and in conformity with information relating to the Initial Purchasers and
furnished to the Company in writing by the Representative expressly for use in
the Preliminary Offering Memorandum or the Final Offering Memorandum or any
amendment or supplement thereto.&#160; No injunction or order has been issued that
either (i) asserts that any of the transactions contemplated by the Documents
is subject to the registration </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">requirements
of the Act or (ii) would prevent or suspend the issuance or sale of any of the
Offered Securities or the use of the Time of Sale Document, the Final Offering
Memorandum or any amendment or supplement thereto, in any jurisdiction. No
statement of material fact included in the Final Offering Memorandum has been
omitted from the Time of Sale Document and no statement of material fact
included in the Time of Sale Document that is required to be included in the
Final Offering Memorandum has been omitted therefrom.&#160; The Company and the Guarantors have not
distributed, and will not distribute, prior to the later of the last possible
Closing Date and the completion of the Initial Purchasers&#146; distribution of the
Offered Securities, any offering material in connection with the offering and
sale of the Securities other than the Time of Sale Document and the Final
Offering Memorandum.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>(i) The Company&#146;s&#160; Annual Report on Form 10-K most recently
filed with the SEC (the &#147;<u>Annual Report</u>&#148;) and (ii) each subsequent report
filed with the SEC pursuant to the Securities Exchange Act of 1934, as
amended (the &#147;<u>Exchange Act</u>&#148;), as of their respective dates, as of the
Time of Sale, as of the date hereof and as of each Closing Date, did not, does
not and will not include any untrue statement of a material fact or omit to
state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading.&#160; Such documents, when they were filed with the
SEC, conformed in all material respects to the requirements of the Exchange Act
and the rules and regulations of the SEC thereunder (including Regulation S-X).&#160; Since the date of the filing of the Annual Report
with the SEC, the Company has made all filings with the SEC required to be made
by the Company under the Exchange Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
corporation, partnership, or other entity in which the Company, directly or
indirectly through any of its subsidiaries, owns more than fifty percent (50%)
of any class of equity securities or interests is listed on <u>Schedule III</u>
attached hereto (the &#147;<u>Subsidiaries</u>&#148;).&#160;
Each Subsidiary that is not a Domestic Restricted Subsidiary has an
asterisk (&#147;*&#148;) next to its name on such schedule.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company and each of the Subsidiaries (i) has been duly organized or formed, as
the case may be, is validly existing and is in good standing under the laws of
its jurisdiction of organization, (ii) has all requisite power and authority to
carry on its business and to own, lease and operate its properties and assets,
and (iii) is duly qualified or licensed to do business and is in good standing
as a foreign corporation, partnership or other entity as the case may be,
authorized to do business in each jurisdiction in which the nature of such
businesses or the ownership or leasing of such properties requires such
qualification, except where the failure to be so qualified would not,
individually or in the aggregate, have a material adverse effect on (A) the
properties, business, prospects, operations, earnings, assets, liabilities or
condition (financial or otherwise) of the Company and the Subsidiaries, taken
as a whole, (B) the ability of the Company and the Guarantors to perform their
respective obligations in all material respects under any Document, (C) the
validity or enforceability of any Document, (D) the attachment, perfection or
priority of any of the Liens (as hereinafter defined) or security interests
intended to be created by the Collateral Agreements, or (E) the consummation of
any of the transactions contemplated under any of the Documents (each, a &#147;<u>Material Adverse Effect</u>&#148;).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All
of the issued and outstanding shares of the capital stock of the Company have
been duly authorized and validly issued, are fully paid and nonassessable, and
were not issued in violation of, and are not subject to, any preemptive or
similar rights.&#160; The table (including the
footnotes thereto) under the heading &#147;Pro Forma Combined&#148; under the caption &#147;Capitalization&#148;
in the Time of Sale Document and the Final Offering Memorandum sets forth, as
of its date, the capitalization of the Company on a pro forma combined
basis.&#160; The table (including the
footnotes thereto) under the heading &#147;Pro Forma As Adjusted&#148; under the caption &#147;Capitalization&#148;
in the Time of Sale Document and the Final Offering Memorandum sets forth the
capitalization of the Company as of </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June 30, 2006, on a pro
forma adjusted basis after giving effect to the merger between First Avenue
Networks, Inc. and FiberTower Network Services Corp. on August 29, 2006 and the
Offering.&#160; All of the outstanding shares
of capital stock or other equity interests of each of the Subsidiaries are
owned, directly or indirectly, by the Company, free and clear of all liens,
security interests, mortgages, pledges, charges, equities, claims or
restrictions on transferability or encumbrances of any kind (collectively, &#147;<u>Liens</u>),
other than those imposed by the Act and the securities or &#147;Blue Sky&#148; laws of
certain domestic or foreign jurisdictions and Permitted Liens described in the
Time of Sale Document and the Final Offering Memorandum. Except as disclosed in
the Time of Sale Document and the Final Offering Memorandum and options granted
to employees of the Company after the date of the Preliminary Offering
Memorandum pursuant to option plans described in the Time of Sale Document and
the Final Offering Memorandum and 30,000 shares of common stock of the Company
to be issued to a consultant after the Preliminary Offering Memorandum, none of
which could materially alter the Company&#146;s capital stock, there are no
outstanding (A) options, warrants or other rights to purchase from the Company
or any of the Subsidiaries, (B) agreements, contracts, arrangements or other
obligations of the Company or any of the Subsidiaries to issue or (C) other
rights to convert any obligation into or exchange any securities for, in the
case of each of clauses (A) through (C), shares of capital stock of or other
ownership or equity interests in the Company or any of the Subsidiaries.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
holder of securities of the Company or any of the Subsidiaries will be entitled
to have such securities (other than the Offered Securities and the PIK
Additional Securities and the Shares issuable upon conversion thereof)
registered under the Shelf Registration Statement required to be filed by the
Company and the Guarantors with respect to the Offered Securities and the PIK
Additional Securities and the Shares issuable upon conversion thereof pursuant
to the Registration Rights Agreement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company and each of the Guarantors that are corporations have all requisite
corporate power and authority, and the Company and each of the Guarantors that
are limited partnerships or limited liability companies have all the requisite
partnership or other power and authority, to execute, deliver and perform their
respective obligations under the Documents to which they are a party and to
consummate the transactions contemplated thereby.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This
Agreement has been duly and validly authorized, executed and delivered by the
Company and the Guarantors.&#160; Each of the
Indenture and the Collateral Agreements have been duly and validly authorized
by the Company and the Guarantors.&#160; Each
of the Indenture and the Collateral Agreements, when executed and delivered by
the Company and the Guarantors, will constitute a legal, valid and binding
obligation of each of the Company and Guarantors, enforceable against each of
the Company and the Guarantors in accordance with its terms, except that the
enforcement thereof may be subject to (i) bankruptcy, insolvency,
reorganization, receivership, moratorium, fraudulent conveyance or other
similar laws now or hereafter in effect relating to creditors&#146; rights generally
and (ii) general principles of equity (whether applied by a court of law or
equity) and the discretion of the court before which any proceeding therefor
may be brought.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Registration Rights Agreement and the Escrow Agreement have been duly and
validly authorized by the Company and the Guarantors.&#160; The Registration Rights Agreement and the
Escrow Agreement, when executed and delivered by the Company and the
Guarantors, will constitute a legal, valid and binding obligations of the
Company and the Guarantors, enforceable against the Company and the Guarantors
in accordance with their terms, except that (A) the enforcement thereof may be
subject to (i) bankruptcy, insolvency, reorganization, receivership,
moratorium, fraudulent conveyance or other similar laws now or hereafter in
effect relating to creditors&#146; rights generally and (ii) general principles of
equity (whether applied by a court of law or equity) and the discretion of the
court before which any proceeding therefor may be brought</p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and (B) any rights to
indemnity or contribution thereunder may be limited by federal and state
securities laws and public policy considerations.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Offered Notes and the PIK Additional Notes, when issued, will be in the form
contemplated by the Indenture.&#160; When
executed and delivered by the Company and the Guarantors, the Indenture will
meet the requirements for qualification under the Trust Indenture Act of 1939,
as amended (the &#147;<u>TIA</u>&#148;).&#160; The
Offered Notes have been, and prior to any issuance thereof, the PIK Additional
Notes will have been, duly and validly authorized by the Company and, when the
Offered Notes are delivered to and paid for by the Initial Purchasers and any
PIK Additional Notes are delivered to the holders of the Offered Notes, all in
accordance with the terms of this Agreement and the Indenture, will have been
duly executed, issued and delivered and will be legal, valid and binding
obligations of the Company, entitled to the benefit of the Indenture, the
Collateral Agreements and the Registration Rights Agreement, and enforceable against
the Company in accordance with their terms, except that the enforcement thereof
may be subject to (i) bankruptcy, insolvency, reorganization, receivership,
moratorium, fraudulent conveyance or other similar laws now or hereafter in
effect relating to creditors&#146; rights generally and (ii) general principles of
equity (whether applied by a court of law or equity) and the discretion of the
court before which any proceeding therefor may be brought.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Upon
issuance and delivery of the Offered Securities, in accordance with this
Agreement and the Indenture and the issuance and delivery of all of the PIK
Additional Securities that could be issued pursuant thereto assuming the
Company elected to issue all of the PIK Additional Securities that it is
entitled to pursuant to the terms of the Indenture and the Offered Securities,
the Offered Securities and the PIK Additional Securities will be convertible at
the option of the holder thereof into Shares in accordance with the terms of
the Indenture and the Offered Securities.&#160;
The Shares (up to an aggregate of 28,767,197 Shares (the &#147;Share Cap&#148;))
issuable upon such conversion of the Offered Securities and the PIK Additional
Securities have been duly authorized and reserved for issuance upon such
conversion by all necessary corporate action and such Shares, when issued upon
such conversion in accordance with the terms of the Offered Securities and the
PIK Additional Securities, will be validly issued, fully paid and
non-assessable, and will not be issued in violation of, or subject to, any
preemptive or similar rights.&#160; The Shares
in excess of the Share Cap, if any, issuable upon such conversion of the
Offered Securities and the PIK Additional Securities will have been duly
authorized and reserved for issuance upon such conversion by all necessary
corporate action prior to any such issuance and such Shares, when issued upon
such conversion in accordance with the terms of the Offered Securities and the
PIK Additional Securities, will be validly issued, fully paid and non-assessable,
and will not be issued in violation of, or subject to, any preemptive or
similar rights.&#160; No holder of any such
Shares will be subject to personal liability by reason of being such holder.&#160; All such Shares issuable upon conversion of
the Offered Securities and the PIK Additional Securities will conform to the
descriptions thereof incorporated by reference into the Time of Sale Document
and the Final Offering Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Guarantees of the Offered Notes have been, and prior to any issuance thereof,
the PIK Additional Notes will have been, duly and validly authorized by the
Guarantors and, when executed by the Guarantors, will have been duly executed,
issued and delivered and will be legal, valid and binding obligations of the
Guarantors, entitled to the benefit of the Indenture, the Collateral
Agreements, and the Registration Rights Agreement, and enforceable against the
Guarantors in accordance with their terms, except that the enforcement thereof
may be subject to (i) bankruptcy, insolvency, reorganization, receivership,
moratorium, fraudulent conveyance or other similar laws now or hereafter in
effect relating to creditors&#146; rights generally and (ii) general principles of
equity (whether applied by a court of law or equity) and the discretion of the
court before which any proceeding therefor may be brought.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Neither
the Company nor any of the Subsidiaries is in violation of its certificate of
incorporation, by-laws or other organizational documents (the &#147;<u>Charter Documents</u>&#148;).&#160; Neither the Company nor any of the
Subsidiaries is (i) in violation of any Federal, state, local or foreign
statute, law (including, without limitation, common law) or ordinance, or any
judgment, decree, rule, regulation or order (collectively, &#147;<u>Applicable Law</u>&#148;) of any federal,
state, local and other governmental authority, governmental or regulatory
agency or body, court, arbitrator or self-regulatory organization, domestic or
foreign (each, a &#147;<u>Governmental
Authority</u>&#148;) applicable to any of them or any of their respective
properties, or (ii) in breach of or default under any bond, debenture, note or
other evidence of indebtedness, indenture, mortgage, deed of trust, lease or
any other agreement or instrument to which any of them is a party or by which
any of them or their respective property is bound (collectively, &#147;<u>Applicable Agreements</u>&#148;), except
for such violations, breaches or defaults that would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.&#160; All Applicable Agreements are in full force
and effect and are legal, valid and binding obligations, other than as
disclosed in the Time of Sale Document and the Final Offering Memorandum,
except where the failure to be in full force and effect or to be legal, valid
and binding would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.&#160; There
exists no condition that, with the passage of time or otherwise, would
constitute (a) a violation of such Charter Documents or Applicable Laws, (b) a
breach of or default under any Applicable Agreement or (c) result in the
imposition of any penalty or the acceleration of any indebtedness other than,
with respect to clause (b) or (c), such breach, default, penalty or
acceleration as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Neither
the execution, delivery or performance of the Documents nor the consummation of
any transactions contemplated therein will conflict with, violate, constitute a
breach of or a default (with the passage of time or otherwise) under, require
the consent of any person (other than consents already obtained and in full
force and effect) under, result in the imposition of a Lien on any assets of
the Company or any of its respective Subsidiaries (except for Liens pursuant to
the Collateral Agreements), or result in an acceleration of indebtedness under
or pursuant to (i) the Charter Documents, (ii) any Applicable Agreement, or
(iii) any Applicable Law.&#160; After
consummation of the Offering and transactions contemplated in the Documents, no
Default or Event of Default will exist.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>When
executed and delivered, the Documents will conform in all material respects to
the descriptions thereof in the Time of Sale Document and the Final Offering
Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
consent, approval, authorization or order of any Governmental Authority, or
third party is required (i) for the issuance and sale by the Company of the
Offered Securities to the Initial Purchasers or the issuance of the Shares upon
conversion by the holders of the Offered Securities and any PIK Additional
Securities, (ii) the issuance by the Guarantors of the Guarantees of the
Offered Notes and any PIK Additional Notes or (iii) the consummation by the
Company and the Guarantors of the other transactions contemplated hereby,
except such as have been obtained and such as may be required under state
securities or &#147;Blue Sky&#148; laws in connection with the purchase and resale of the
Offered Securities by the Initial Purchasers.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>There
is no action, claim, suit, demand, hearing, notice of violation or deficiency,
or proceeding, domestic or foreign (collectively, &#147;<u>Proceedings</u>&#148;), pending or, to the knowledge of the Company or
any of the Subsidiaries, threatened, that either (i) seeks to restrain, enjoin,
prevent the consummation of, or otherwise challenge any of the Documents or any
of the transactions contemplated therein, or (ii) would, individually or in the
aggregate, have a Material Adverse Effect.&#160;
The Company is not subject to any judgment, order, decree, rule or
regulation of any </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Governmental Authority
that would, individually or in the aggregate, have a Material Adverse Effect.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Company and the Subsidiaries possess all licenses, permits,
certificates, consents, orders, approvals and other authorizations from, and
has made all declarations and filings with, all Governmental Authorities,
presently required or necessary to own or lease, as the case may be, and to
operate their respective properties and to carry on their respective businesses
as now or proposed to be conducted as set forth in the Time of Sale Document
and the Offering Memorandum (&#147;<u>Permits</u>&#148;), and each Permit is in full
force and effect, except in each as would not, individually or in the
aggregate, have a Material Adverse Effect; each of the Company and each of its
Subsidiaries has fulfilled and performed all of its obligations with respect to
such Permits and is in compliance with all applicable laws, rules, regulations,
ordinances, directives, judgments, decrees and orders; no event has occurred
which allows, or after notice or lapse of time would allow, revocation or
termination thereof or results in any other material impairment of the rights
of the holder of any Permit; no Permit contains a materially burdensome
restriction not adequately disclosed in the Time of Sale Document and the Final
Offering Memorandum; and none of the Company or any of its Subsidiaries has
received any notice of any proceeding that would cause the termination,
suspension, cancellation, nonrenewal or modification of any such Permit, or the
imposition of any penalty or fine, except in each case as described in the Time
of Sale Document and the Final Offering Memorandum or as would not,
individually or in the aggregate, have a Material Adverse Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Company and its Subsidiaries has good and marketable title to all real
property owned by it and good title to all personal property owned by it and
good and indefeasible title to all leasehold estates in real and personal
property being leased by it that are material to the respective businesses of
the Company and the Subsidiaries and, as of the Time of Sale, as of the date
hereof and as of each Closing Date, was, is and will be free and clear of all
Liens (other than Permitted Liens).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All
Tax returns required to be filed by the Company and each of the Subsidiaries
have been filed, except where the failure to file such return would not result
in a Material Adverse Effect and the Company has provided adequate reserves in
accordance with generally accepted accounting principles of the United States,
consistently applied (&#147;<u>GAAP</u>&#148;)
in its Financial Statements (as hereinafter defined), and all such returns are
true, complete, and correct in all material respects.&#160; All material Taxes that are due from the
Company and its respective Subsidiaries have been paid other than those (i)
currently payable without penalty or interest or (ii) being contested in good
faith and by appropriate proceedings and for which adequate reserves have been
established in accordance with GAAP, consistently applied. To the best
knowledge of the Company, there are no actual or proposed Tax assessments
against the Company or any of the Subsidiaries that would, individually or in
the aggregate, have a Material Adverse Effect. The accruals and reserves on the
books and records of the Company and its respective Subsidiaries in respect of
any material Tax liability for any period not finally determined are adequate
to meet any assessments of Tax for any such period. For purposes of this
Agreement, the term &#147;Tax&#148; and &#147;Taxes&#148; shall mean all Federal, state, local and
foreign taxes, and other assessments of a similar nature (whether imposed
directly or through withholding), including any interest, additions to tax, or
penalties applicable thereto.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Company and the Subsidiaries owns, or is licensed under, and has the
right to use, all patents, patent rights, licenses, inventions, copyrights,
know-how (including trade secrets and other unpatented and/or unpatentable
proprietary or confidential information, systems or procedures), trademarks,
service marks and trade names (collectively, &#147;<u>Intellectual Property</u>&#148;) necessary for the conduct of its
businesses except where such failure to own or have such right </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">would not, individually
or in the aggregate, have a Material Adverse Effect and, as of the Time of
Sale, as of the date hereof and as of each Closing Date, was, is and will be
free and clear of all Liens, other than Permitted Liens.&#160; No claims or notices of any potential claim
have been asserted by any person challenging the use of any such Intellectual
Property by the Company or any of the Subsidiaries or questioning the validity
or effectiveness of the Intellectual Property or any license or agreement
related thereto (other than any claims that, if successful, would not,
individually or in the aggregate, have a Material Adverse Effect).&#160; The use of such Intellectual Property by the
Company or any of the Subsidiaries will not infringe on the Intellectual
Property rights of any other person except where any such infringement would
not, individually or in the aggregate, have a Material Adverse Effect.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company maintains a system of internal accounting controls sufficient to
provide reasonable assurance that (i) material transactions are executed in
accordance with management&#146;s general or specific authorization, (ii) material
transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP, and to maintain asset accountability, (iii)
access to assets is permitted only in accordance with management&#146;s general or
specific authorization and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate
action is taken with respect to any material differences.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(w)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
audited consolidated financial statements and related notes of the Company and
its consolidated subsidiaries contained in the Time of Sale Document and the
Final Offering Memorandum (the &#147;<u>Financial
Statements</u>&#148;) present fairly the financial position, results of
operations and cash flows of the Company and its consolidated subsidiaries, as
of the respective dates and for the respective periods to which they apply and
have been prepared in accordance with GAAP and the requirements of Regulation
S-X of the Act.&#160; The historical financial
data set forth under &#147;Summary Historical and Pro Forma Financial and Operating
Data&#148; and &#147;Selected Historical Financial and Operating Data&#148; included in the
Time of Sale Document and the Final Offering Memorandum has been prepared on a
basis consistent with that of the Financial Statements and presents fairly the
financial position and results of operations of the Company and its
consolidated subsidiaries as of the respective dates and for the respective
periods indicated. The unaudited pro forma financial information and related
notes of the Company contained in the Time of Sale Document and the Final
Offering Memorandum has been prepared in accordance with the requirements of
Regulation S-X and give effect to assumptions used in the preparation therof on
a reasonable basis and in good faith based on information as of the date
hereof.&#160; All other financial, statistical,
and market and industry-related data included in the Time of Sale Document and
the Final Offering Memorandum are fairly and accurately presented and are based
on or derived from sources that the Company believes to be reliable and
accurate.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subsequent
to the respective dates as of which information is given in the Time of Sale
Document and the Final Offering Memorandum, except as disclosed in the Time of
Sale Document and the Final Offering Memorandum, (i) neither the Company nor
any of the Subsidiaries has incurred any liabilities, direct or contingent,
that are material, individually or in the aggregate, to the Company, or has
entered into any transactions not in the ordinary course of business, (ii)
there has not been any material change in the Common Stock or any material
increase in long-term indebtedness or any material increase in short-term
indebtedness of the Company, or any payment of or declaration to pay any
dividends or any other distribution with respect to the Company, and (iii)
there has not been any material adverse change in the properties, business,
prospects, operations, earnings, assets, liabilities or condition (financial or
otherwise) of the Company and the Subsidiaries in the aggregate (each of
clauses (i), (ii) and (iii), a &#147;<u>Material
Adverse Change</u>&#148;).&#160; To the
knowledge of the Company after reasonable inquiry, no event has occurred, which
would, individually or in the aggregate, have a Material Adverse Effect.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">10</font></p>
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<div>
 <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(y)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
&#147;nationally recognized statistical rating organization&#148; (as such term is
defined for purposes of Rule 436(g)(2) under the Act) (i) has imposed (or has
informed the Company that it is considering imposing) any condition (financial
or otherwise) on the Company retaining any rating assigned to the Company or
any of the Subsidiaries or to any securities of&#160;
the Company or any of the Subsidiaries, or (ii) has indicated to the
Company that it is considering (A) the downgrading, suspension, or withdrawal
of, or any review for a possible change that does not indicate the direction of
the possible change in any rating so assigned, or (B) any negative change in
the outlook for any rating of the Company or any of the Subsidiaries or any
securities of the Company or any of the Subsidiaries.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(z)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All
indebtedness represented by the Offered Securities and any PIK Additional
Securities that may be issued is being incurred for proper purposes and in good
faith. On the Closing Date, after giving pro forma effect to the Offering and
the use of proceeds therefrom as indicated in the &#147;Use of Proceeds&#148; section of
the Time of Sale Document and the Final Offering Memorandum, the Company and
each Guarantor (i) will be solvent, (ii) will have sufficient capital for
carrying on its business and (iii) will be able to pay its debts as they
mature.&#160; As used in this paragraph, the
term &#147;<u>Solvent</u>&#148; means, with respect to a particular date, that on such
date (i)&nbsp;the present fair market value (or present fair saleable value) of
the assets of&#160; the Company and each
Guarantor is not less than the total amount required to pay the liabilities of
the Company and each Guarantor on its total existing debts and liabilities
(including contingent liabilities) as they become absolute and matured;
(ii)&nbsp;the Company and each Guarantor is able to pay its debts and other
liabilities, contingent obligations and commitments as they mature and become
due in the normal course of business; (iii)&nbsp;assuming consummation of the
issuance of the Offered Securities and any PIK Additional Securities that may
be issued as contemplated by this Agreement and the Time of Sale Document and
the Final Offering Memorandum, neither the Company nor any Guarantor is
incurring debts or liabilities beyond its ability to pay as such debts and
liabilities mature; (iv)&nbsp;neither the Company nor any Guarantor is engaged
in any business or transaction, and does not propose to engage in any business
or transaction, for which its property would constitute unreasonably small
capital after giving due consideration to the prevailing practice in the
industry in which the Company or any Guarantor is engaged; and
(v)&nbsp;neither&#160; the Company nor any
Guarantor is otherwise insolvent under the standards set forth in applicable
laws.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(aa)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company has not, and no one acting on its behalf has, (i) taken, directly or
indirectly, any action designed to cause or to result in, or that has
constituted or which might reasonably be expected to constitute, the
stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of any of the Offered Securities, (ii) sold, bid
for, purchased, or paid anyone any compensation for soliciting purchases of,
any of the Offered Securities, or (iii) except as disclosed in the&#160; Time of Sale Document and the Final Offering
Memorandum, paid or agreed to pay to any person any compensation for soliciting
another to purchase any other securities of the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(bb)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Without
limiting any provision herein, no registration under the Act and no qualification
of the Indenture under the TIA is required for the sale of the Offered
Securities to the Initial Purchasers as contemplated hereby or for the Exempt
Resales or for the issuance or sale of any PIK Additional Securities that may
be issued, assuming (i) that the purchasers in the Exempt Resales are QIBs or
Accredited Investors or non-U.S. persons (as defined under Regulation S of the
Act) and (ii) the accuracy of the Initial Purchasers&#146; representations contained
herein regarding the absence of general solicitation in connection with the
sale of the Offered Securities to the Initial Purchasers and in the Exempt
Resales.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(cc)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Offered Securities and any PIK Additional Securities that may be issued are
eligible for resale pursuant to Rule 144A under the Act and no other securities
of the Company are of the </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">same class (within the
meaning of Rule 144A under the Act) as the Offered Securities and any PIK
Additional Securities that may be issued and listed on a national securities
exchange registered under Section 6 of the Exchange Act, or quoted in a U.S.
automated inter-dealer quotation system.&#160;
No securities of the Company of the same class as the Offered Securities
and any PIK Additional Securities that may be issued have been offered, issued
or sold by the Company or any of its respective Affiliates within the six-month
period immediately prior to the date hereof in a transaction that could be
integrated with the Offering.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(dd)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Neither
of the Company nor any of its respective affiliates or other person acting on
behalf of the Company has offered or sold the Offered Securities or any PIK
Additional Securities that may be issued by means of any general solicitation
or general advertising within the meaning of Rule 502(c) under the Act or, with
respect to Offered Securities or any PIK Additional Securities that may be
issued, sold outside the United States to non-U.S. persons (as defined in Rule
902 under the Act), by means of any directed selling efforts within the meaning
of Rule 902 under the Act, and the Company, any affiliate of the Company and
any person acting on behalf of the Company have complied with and will
implement the &#147;offering restrictions&#148; within the meaning of such Rule 902; <u>provided</u>,
that no representation is made in this subsection with respect to the actions
of the Initial Purchasers.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ee)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Company, the Subsidiaries, and each ERISA Affiliate (as hereinafter
defined) has fulfilled its obligations, if any, under the minimum funding
standards of Section 302 of the United States Employee Retirement Income
Security Act of 1974, as amended (&#147;<u>ERISA</u>&#148;) with respect to each &#147;pension
plan&#148; (as defined in Section 3(2) of ERISA), subject to Section 302 of ERISA
which the Company, the Subsidiaries, or any ERISA Affiliate sponsors or maintains,
or with respect to which it has (or within the last three years had) any
obligation to make contributions, and each such plan is in compliance in all
material respects with the presently applicable provisions of ERISA and the
Internal Revenue Code of 1986, as amended (the &#147;<u>Code</u>&#148;).&#160; Neither the Company, the Subsidiaries, nor
any ERISA Affiliate has incurred any unpaid liability to the Pension Benefit
Guaranty Corporation (other than for the payment of premiums in the ordinary
course) or to any such plan under Title IV of ERISA.&#160; &#147;<u>ERISA Affiliate</u>&#148; means a corporation,
trade or business that is, along with the Company or any Subsidiary, a member
of a controlled group of corporations or a controlled group of trades or
businesses, as described in Section 414 of the Code or Section 4001 of ERISA.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ff)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>(i)
Neither the Company nor any of the Subsidiaries is party to or bound by any
collective bargaining agreement with any labor organization; (ii) there is no
union representation question existing with respect to the employees of the
Company or the Subsidiaries, and, to the best knowledge of the Company, no
union organizing activities are taking place that, could, individually or in
the aggregate, have a Material Adverse Effect; (iii) to the Company&#146;s best
knowledge, no union organizing or decertification efforts are underway or
threatened against the Company or the Subsidiaries; (iv) no labor strike, work
stoppage, slowdown, or other material labor dispute is pending against the
Company or the Subsidiaries, or, to the best knowledge of the Company,
threatened against the Company or the Subsidiaries; (v) there is no worker&#146;s
compensation liability, experience or matter that could be reasonably expected
to have a Material Adverse Effect; (vi) to the best knowledge of the Company,
there is no threatened or pending liability against the Company or the
Subsidiaries pursuant to the Worker Adjustment Retraining and Notification
Act&#160; of 1988, as amended, or any similar
state or local law; (vii) there is no employment-related charge, complaint,
grievance, investigation, unfair labor practice claim, or inquiry of any kind,
pending against the Company or the Subsidiaries that could, individually or in
the aggregate, have a Material Adverse Effect; (viii) to the best knowledge of
the Company, no employee or agent of the Company or the Subsidiaries has
committed any act or omission giving rise to liability for any violation
identified in subsection (vii) and (viii) above, other than such </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">acts or omissions that
would not, individually or in the aggregate, have a Material Adverse Effect;
and (ix) no term or condition of employment exists through arbitration awards,
settlement agreements, or side agreement that is contrary to the express terms
of any applicable collective bargaining agreement.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(gg)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>None of
the transactions contemplated in the Documents or the application of the
proceeds by the Company or any of the Subsidiaries of the proceeds of the
Offered Securities will violate or result in a violation by the Company or any
of the Subsidiaries of Section 7 of the Exchange Act, (including, without
limitation, Regulation T (12 C.F.R. Part 220), Regulation U (12 C.F.R. Part
221) or Regulation X (12 C.F.R. Part 224) of the Board of Governors of the
Federal Reserve System).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(hh)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Neither
the Company nor any of the Subsidiaries is an open-end investment company, unit
investment trust or face-amount certificate company that is or is required to
be registered under Section 8 of the United States Investment Company Act of
1940 (the &#147;<u>Investment Company Act</u>&#148;); and neither the Company nor any of
the Subsidiaries, after giving effect to the Offering and sale of the Offered
Securities and the application of the proceeds thereof as described in the Time
of Sale Document and the Final Offering Memorandum, will be an &#147;investment
company&#148; as defined in the Investment Company Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company has not engaged any broker, finder, commission agent or other person
(other than the Initial Purchasers) in connection with the Offering or any of
the transactions contemplated in the Documents, and the Company is not under
any obligation to pay any broker&#146;s fee or commission in connection with such
transactions (other than commissions or fees to the Initial Purchasers).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(jj)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Company and the Subsidiaries is (i) in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to
the protection of the environment or hazardous or toxic substances of wastes,
pollutants or contaminants (&#147;<u>Environmental Laws</u>&#148;), (ii)&nbsp;has
received and is in compliance with all permits, licenses or other approvals
required of them under applicable Environmental Laws to conduct its respective
business and (iii) has not received notice of any actual or potential liability
for the investigation or remediation of any disposal or release of hazardous or
toxic substances or wastes, pollutants or contaminants, in each case except
where such non-compliance with Environmental Laws, failure to receive and
comply with required permits, licenses or other approvals, or liability would
not, individually or in the aggregate, have a Material Adverse Effect,<b> </b>whether or not arising from transactions
in the ordinary course of business.&#160;
Neither the Company nor any of the Subsidiaries has been named as a &#147;potentially
responsible party&#148; under the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(kk)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Except
as disclosed in the Time of Sale Document and the Final Offering Memorandum, as
of the Closing Date, there will be no encumbrances or restrictions, on the
ability of any Subsidiary of the Company (x) to pay dividends or make other
distributions on such Subsidiary&#146;s capital stock or to pay any indebtedness to
the Company or any other Subsidiary of the Company, (y) to make loans or
advances or pay any indebtedness to, or investments in, the Company or any
other Subsidiary of the Company or (z) to transfer any of its property or
assets to the Company or any other Subsidiary of the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ll)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
certificate signed by any officer of the Company, or any Subsidiary thereof,
delivered to the Initial Purchasers shall be deemed a representation and
warranty by the Company or any such Subsidiary thereof (and not individually by
such officer) to the Initial Purchasers with respect to the matters covered
thereby.&#160; All information certified by an
officer of the Company in the </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Perfection Certificate,
dated as of the First Closing Date, and delivered by such officer on behalf of
the Company, is and will be true and correct as of any Closing Date.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(mm)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each of the
Company and each of its respective Subsidiaries are insured by insurers of
recognized financial responsibility against such losses and risks and in such
amounts as the Company believes are prudent and customary in the businesses in
which they are engaged.&#160; All policies of
insurance insuring the Company or any of its respective Subsidiaries or their
respective businesses, assets, employees, officers and directors are in full
force and effect.&#160; The Company and the
Subsidiaries are in compliance with the terms of such policies and instruments
in all material respects, and there are no material claims by the Company or
any of the Subsidiaries under any such policy or instrument as to which any
insurance company is denying liability or defending under a reservation of
rights clause.&#160; Neither the Company nor
any such Subsidiary has been refused any insurance coverage sought or applied
for, and neither the Company nor any such Subsidiary has any reason to believe
that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as
may be necessary to continue its business at a cost that would not,
individually or in the aggregate, have a Material Adverse Effect.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(nn)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To the
extent required by the Exchange Act, each of the Company and each of its
Subsidiaries has established and maintains and evaluates &#147;disclosure controls
and procedures&#148; (as such term is defined in Rule 13a-15 and 15d-15 under the
Exchange Act) and &#147;internal control over financial reporting&#148; (as such term is
defined in Rule 13a-15 and 15d-15 under the Exchange Act); such disclosure
controls and procedures and internal control over financial reporting are
designed to ensure that material information relating to the Company, including
its consolidated subsidiaries, is made known to each of the Company&#146;s chief
executive officer and chief financial officer by others within the Company, and
such disclosure controls and procedures and internal control over financial
reporting are effective to perform the functions for which they were
established; the Company&#146;s independent auditors and audit committee have been
advised of: (i) all significant deficiencies, if any, in the design or
operation of internal control over financial reporting which could adversely
affect the Company&#146;s ability to record, process, summarize and report financial
data and (ii) all fraud, if any, whether or not material, that involves
management or other employees who have a role in the Company&#146;s internal control
over financial reporting; all material weaknesses, if any, in internal control
over financial reporting have been identified to the Company&#146;s independent
auditors and audit committee; since the date of the most recent evaluation of
such disclosure controls and procedures and internal control over financial
reporting, there have been no significant changes in internal control over
financial reporting or in other factors that could significantly affect
internal control over financial reporting, except for any corrective actions
with regard to significant deficiencies and material weaknesses disclosed in
the Time of Sale Document and the Final Offering Memorandum; the principal
executive officers (or their equivalents) and principal financial officers (or
their equivalents) of the Company have made all certifications required by the
Sarbanes-Oxley Act of 2002 (the &#147;<u>Sarbanes-Oxley Act</u>&#148;) and any related
rules and regulations promulgated by the SEC, and the statements contained in
each such certification are complete and correct; and the Company, its
Subsidiaries and the Company&#146;s board of directors and officers are each in
compliance in all material respects with all applicable effective provisions of
the Sarbanes-Oxley Act and the rules and regulations of the SEC promulgated
thereunder.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(oo)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Ernst
&amp; Young LLP and KBA Group LLP, who have each audited the Financial
Statements contained in the Time of Sale Document and the Final Offering
Memorandum, are each independent registered public accounting firms with
respect to the Company and its predecessor and their Subsidiaries within the
applicable rules and regulations adopted by the SEC and the Public Accounting
Oversight Board (United States) and as required by the Securities Act.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(pp)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each of
the Collateral Agreements, once executed and delivered, will be effective to
create in favor of the Collateral Agent for the benefit of the secured parties
named therein, legal, valid and enforceable liens on, and security interests
in, all property pledged or granted as collateral pursuant to the Collateral
Agreements (the &#147;<u>Collateral</u>&#148;) and, when (i) financing statements and
other filings in appropriate form are filed in the offices specified on <u>Schedule
7</u> to the Perfection Certificate and (ii) upon the taking of possession or
control by the Collateral Agent of the Collateral with respect to which a
security interest may be perfected only by possession or control (which
possession or control shall be given to the Collateral Agent to the extent
possession or control by the Collateral Agent is required by the applicable
Collateral Agreement), the liens created by the Collateral Agreements shall
constitute fully perfected liens on, and security interests in, all right,
title and interest of the grantors in the Collateral, in each case subject to
no liens other than Permitted Liens.&#160;
Each Collateral Agreement delivered after the First Closing Date
pursuant to the Indenture will, upon execution and delivery thereof, be
effective to create in favor of the Collateral Agent, for the benefit of the
secured parties named therein, legal, valid and enforceable liens on, and
security interests in, all of the applicable Guarantors&#146; right, title and
interest in and to the Collateral thereunder, and (i) when all appropriate
filings or recordings are made in the appropriate offices as may be required
under applicable law and (ii) upon the taking of possession or control by the
Collateral Agent of such Collateral with respect to which a security interest
may be perfected only by possession or control (which such possession or
control shall be given to the Collateral Agent to the extent required by such
Collateral Agreement), such Collateral Agreement will constitute fully
perfected liens on, and security interests in, all right, title and interest of
the Guarantors in the Collateral thereunder, in each case subject to no liens
other than the applicable Permitted Liens set forth in such Collateral
Agreement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Covenants of the Company and the Guarantors</u></font></b>.&nbsp;&nbsp; Each
of the Company and the Guarantors jointly and severally agrees:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
(i) advise the Initial Purchasers promptly after obtaining knowledge (and, if
requested by the Initial Purchasers, confirm such advice in writing) of (A) the
issuance by any state securities commission of any stop order suspending the
qualification or exemption from qualification of any of the Offered Securities
for offer or sale in any jurisdiction, or the initiation of any proceeding for
such purpose by any state securities commission or other regulatory authority,
or (B) the happening of any event that makes any statement of a material fact
made in the Time of Sale Document or the Final Offering Memorandum untrue or
that requires the making of any additions to or changes in the Time of Sale
Document or the Final Offering Memorandum in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading, (ii) use its commercially reasonable efforts to prevent the
issuance of any stop order or order suspending the qualification or exemption
from qualification of any of the Offered Securities under any state securities
or Blue Sky laws, and (iii) if, at any time, any state securities commission or
other regulatory authority shall issue an order suspending the qualification or
exemption from qualification of any of the Offered Securities under any such
laws, use its reasonable best efforts to obtain the withdrawal or lifting of
such order at the earliest possible time.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
(i) furnish the Initial Purchasers, without charge, as many copies of the Time
of Sale Document and the&#160; Final Offering
Memorandum, and any amendments or supplements thereto, as the Initial
Purchasers may reasonably request, and (ii) promptly prepare, upon the Initial
Purchasers&#146; reasonable request, any amendment or supplement to the Time of Sale
Document and the Final Offering Memorandum that the Initial Purchasers, upon
advice of legal counsel, determines may be necessary in connection with Exempt
Resales (and the Company hereby consents to the use of the Time of Sale
Document and the&#160; Final Offering
Memorandum, and any </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">amendments and
supplements thereto, by the Initial Purchasers in connection with Exempt
Resales).</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Not
to amend or supplement the Time of Sale Document or the &#160;Final Offering Memorandum prior to the last
possible Closing Date, or at any time prior to the completion of the resale by
the Initial Purchasers of all the Securities purchased by the Initial
Purchasers, unless the Initial Purchasers shall previously have been advised
thereof and shall have been given reasonable opportunity to comment thereon and
shall not have objected thereto.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Prior
to the time the Initial Purchasers have completed their distribution of the
Offered Securities and for so long as the Initial Purchasers shall hold any of
the Securities, (i) if any event shall occur as a result of which, in the
reasonable judgment of the Company or the Initial Purchasers, it becomes
necessary or advisable to amend or supplement the Time of Sale Document or
the&#160; Final Offering Memorandum in order
to make the statements therein, in the light of the circumstances under which
they were made, not misleading, or if it is necessary to amend or supplement
the Time of Sale Document or the&#160; Final
Offering Memorandum to comply with Applicable Law, to prepare, at the expense
of the Company, an appropriate amendment or supplement to the Time of Sale
Document or the&#160; Final Offering
Memorandum (in form and substance reasonably satisfactory to the Initial
Purchasers) so that (A) as so amended or supplemented, the Time of Sale
Document and the&#160; Final Offering
Memorandum will not include an untrue statement of material fact or omit to
state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, and (B)
the Time of Sale Document and the&#160; Final
Offering Memorandum will comply with Applicable Law and (ii) if in the
reasonable judgment of the Company it becomes necessary or advisable to amend
or supplement the Time of Sale Document or the&#160;
Final Offering Memorandum so that the Time of Sale Document and the&#160; Final Offering Memorandum will contain all of
the information specified in, and meet the requirements of, Rule 144A(d)(4) of
the Act, to prepare an appropriate amendment or supplement to the Time of Sale
Document or the&#160; Final Offering
Memorandum (in form and substance reasonably satisfactory to the Initial
Purchasers) so that the Time of Sale Document and the&#160; Final Offering Memorandum, as so amended or
supplemented, will contain the information specified in, and meet the
requirements of, Rule 144A(d)(4) of the Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
cooperate with the Initial Purchasers and their counsel in connection with the
qualification of the Offered Securities under the securities or Blue Sky laws
of such jurisdictions as the Initial Purchasers may request and continue such
qualification in effect so long as reasonably required for Exempt Resales.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Whether
or not any of the Offering or the transactions contemplated by the Documents
are consummated or this Agreement is terminated, to pay (i) all costs,
expenses, fees and taxes incident to and in connection with: (A) the
preparation, printing and distribution of the Time of Sale Document and the&#160; Final Offering Memorandum and all amendments
and supplements thereto (including, without limitation, financial statements
and exhibits), and all other agreements, memoranda, correspondence and other
documents prepared and delivered in connection herewith, (B) the negotiation,
printing, processing and distribution (including, without limitation, word
processing and duplication costs) and delivery of each of the Documents, (C)
the preparation, issuance and delivery of the Offered Securities and any PIK
Additional Securities that may be issued, (D) the qualification of the Offered
Securities and any PIK Additional Securities that may be issued for offer and
sale under the securities or Blue Sky laws of the several states (including,
without limitation, the fees and disbursements of counsel to the Initial
Purchasers relating to such registration or qualification), (E) furnishing such
copies of the Time of Sale Document and the&#160;
Final Offering Memorandum, and all amendments and supplements thereto,
as may reasonably be requested for use by the Initial Purchasers and (F) the
performance </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of the Company&#146;s and the
Guarantors&#146; obligations under the Registration Rights Agreement, including, but
not limited to, (i) the preparation and filing with the SEC of the Shelf
Registration Statement, (ii) all fees and expenses of the counsel, accountants
and any other experts or advisors retained by the Company and the Guarantors,
(iii) all expenses and listing fees in connection with the application for
quotation of the Offered Securities and any PIK Additional Securities that may
be issued on the Private Offerings, Resales and Trading Automated Linkages (&#147;<u>PORTAL</u>&#148;) Market, (iv) all fees and
expenses (including fees and expenses of counsel) of the Company in connection
with approval of the Offered Securities and any PIK Additional Securities that
may be issued by DTC for &#147;book-entry&#148; transfer, (v) all fees and expenses
(including reasonable fees and expenses of counsel) of the Trustee and all
collateral agents, (vi) all costs and expenses in connection with the creation
and perfection of the Collateral Agreements (including without limitation,
filing and recording fees, search fees, taxes and costs of title policies), and
(vii) all reasonable fees, disbursements and out-of-pocket expenses incurred by
the Initial Purchasers in connection with their services to be rendered
hereunder including, without limitation, the fees and disbursements of Paul,
Hastings, Janofsky &amp; Walker LLP, counsel to the Initial Purchasers, travel
and lodging expenses, word processing charges, messenger and duplicating
services, facsimile expenses and other customary expenditures.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
use the proceeds of the Offering in the manner described in the Time of Sale
Document and the&#160; Final Offering
Memorandum under the caption &#147;Use of Proceeds.&#148;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
do and perform all things required to be done and performed under the Documents
prior to and after any Closing Date.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Not
to, and to ensure that no affiliate (as defined in Rule 501(b) of the Act) of
the Company will, sell, offer for sale or solicit offers to buy or otherwise
negotiate in respect of any &#147;security&#148; (as defined in the Act) that would be
integrated with the sale of the Offered Securities in a manner that would
require the registration under the Act of the sale to the Initial Purchasers or
to the Subsequent Purchasers of the Offered Securities.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>For
so long as any of the Offered Securities and any PIK Additional Securities that
may be issued remain outstanding, during any period in which the Company is not
subject to Section 13 or 15(d) of the Exchange Act, to make available, upon
request, to any owner of the Offered Securities and any PIK Additional
Securities that may be issued in connection with any sale thereof and any
prospective Subsequent Purchasers of such Offered Securities and any PIK
Additional Securities that may be issued from such owner, the information
required by Rule 144A(d)(4) under the Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
comply with the representation letter of the Company to DTC relating to the
approval of the Offered Securities and any PIK Additional Securities that may
be issued by DTC for &#147;book entry&#148; transfer.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
use its best efforts to effect the inclusion of the Offered Securities and any
PIK Additional Securities that may be issued in the PORTAL Market.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>For
so long as any of the Offered Securities and any PIK Additional Securities that
may be issued remain outstanding, the Company will furnish to the Initial
Purchasers copies of all reports and other communications (financial or
otherwise) furnished by the Company to the Trustee or to the holders of the
Offered Securities and any PIK Additional Securities that may be issued and, as
soon as available, copies of any reports or financial statements furnished to
or filed by the Company with the SEC or any national securities exchange on
which any class of securities of the Company may be listed.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Except
in connection with the filing of the Shelf Registration Statement, not to, and
not to authorize or permit any person acting on its behalf to, (i) distribute
any offering material in connection with the offer and sale of the Offered
Securities or any PIK Additional Securities that may be issued other than the
Time of Sale Document and the Final Offering Memorandum and any amendments and
supplements to the Final Offering Memorandum prepared in compliance with this
Agreement, or (ii) solicit any offer to buy or offer to sell the Offered
Securities or any PIK Additional Securities that may be issued by means of any
form of general solicitation or general advertising (including, without
limitation, as such terms are used in Regulation D under the Act) or in any
manner involving a public offering within the meaning of Section 4(2) of the
Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(o)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>During
the two year period after the last possible Closing Date (or such shorter
period as may be provided for in Rule 144(k) under the Act, as the same may be
in effect from time to time), to not, and to not permit any current or future
Subsidiaries of either the Company or any other affiliates (as defined in Rule
144A under the Act) controlled by the Company to, resell any of the Offered
Securities and any PIK Additional Securities that may be issued which
constitute &#147;restricted securities&#148; under Rule 144 that have been reacquired by
the Company, any current or future Subsidiaries or any other &#147;affiliates&#148; (as
defined in Rule 144A under the Act) controlled by the Company, except pursuant
to an effective registration statement under the Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(p)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company shall pay all stamp, documentary and transfer taxes and other duties,
if any, which may be imposed by the United States or any political subdivision
thereof or taxing authority thereof or therein with respect to the issuance of
the Offered Securities and any PIK Additional Securities that may be issued or
the sale thereof to the Initial Purchasers.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(q)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
file, on a timely basis, with the SEC and the Nasdaq Global Market all reports
and documents required to be filed under the Exchange Act.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(r)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
use its best efforts to:&#160; (i) obtain a
letter from the Nasdaq Global Market to the effect that the Nasdaq Global
Market concurs with the Company&#146;s view that the issuance of the Securities
pursuant to the terms hereof and of the Securities and the Indenture does not
require shareholder approval, (ii) obtain the approval by the Nasdaq Global
Market of the Company&#146;s listing application for the Shares up to the Share Cap
to be issued upon conversion of the Securities and the approval of such Shares
for quotation on the Nasdaq Global Market and (iii) maintain the inclusion and
quotation of its shares of Common Stock, including the Shares, on the Nasdaq
Global Market or another national securities exchange.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(s)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
comply with all of their agreements set forth in the Registration Rights
Agreement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(t)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Until
the Initial Purchasers shall have notified the Company of the completion of the
resales of the Securities, not to, and not to permit any of their affiliated
purchasers (as such term is defined in Regulation M under the Exchange Act) to,
either alone or with one or more other persons, bid for or purchase for any
account in which they or any of their affiliated purchasers has a beneficial
interest in any Securities or shares of the Common Stock of the Company in
violation of Regulation M; and none of the Company or any of its affiliated
purchasers will make bids or purchases for the purpose of creating actual, or
apparent, active trading in, or of raising the price of, the Securities or the
shares of Common Stock of the Company.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(u)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Company will reserve and keep available at all
times, free of preemptive or other similar rights and liens and adverse claims,
sufficient shares of Common Stock to satisfy its obligation to issue such
Shares upon conversion of the Offered Securities and all of the PIK Additional </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities
that the Company may elect to issue pursuant to the Offered Securities and the
Indenture.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The Company shall use its best efforts to obtain, as
promptly as practical, the required approval of its shareholders of the terms
of the Securities and the issuance of the Shares in excess of the Share Cap
upon the conversion thereof pursuant to the terms of the Securities and the
Indenture and to obtain the approval by the Nasdaq Global Market or such other
national securities exchange on which the Company&#146;s Common Stock is then listed
of the Company&#146;s listing application for the Shares in excess of the Shares Cap
to be issued upon conversion of the Securities and the approval of such Shares
for quotation on the Nasdaq Global Market or such other national securities
exchange.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Representations and Warranties
of the Initial Purchasers</u></font></b>.&nbsp;&nbsp; Each of the Initial
Purchasers, severally and not jointly, represents and warrants (as to itself
only) that:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>It
is a QIB as defined in Rule 144A under the Act and it will offer the Offered
Securities for resale only upon the terms and conditions set forth in this
Agreement and in the Time of Sale Document and the&#160; Final Offering Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>It
is not acquiring the Offered Securities with a view to any distribution thereof
that would violate the Act or the securities laws of any state of the United States
or any other applicable jurisdiction.&#160; In
connection with the Exempt Resales, it will solicit offers to buy the Offered
Securities only from, and will offer and sell the Offered Securities only to,
(A) persons reasonably believed by it to be QIBs or (B) persons reasonably
believed to be Accredited Investors or (C) persons reasonably believed by it to
be non-U.S. persons referred to in Regulation S under the Act; <u>provided</u>,
<u>however</u>, that in purchasing such Offered Securities, such persons are
deemed to have represented and agreed as provided under the caption &#147;Notice to
Investors&#148; contained in the Time of Sale Document and the&#160; Final Offering Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
form of general solicitation or general advertising in violation of the Act has
been or will be used nor will any offers in any manner involving a public
offering within the meaning of Section 4(2) of the Act or, with respect to
Offered Securities to be sold in reliance on Regulation S, by means of any
directed selling efforts be made by such Initial Purchaser or any of its
representatives in connection with the offer and sale of any of the Offered
Securities.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:72.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Conditions</u></font></b>.&nbsp;&nbsp; The
obligations of the Initial Purchasers to purchase and pay for the Offered
Securities as provided for under this Agreement on the First Closing Date and,
with respect to the Optional Additional Securities, each Option Closing Date,
are subject to the performance by the Company and each of the Guarantors of
their respective covenants and obligations hereunder and the satisfaction of
each of the following conditions:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>All
the representations and warranties of the Company and the Guarantors contained
in this Agreement and in each of the Documents shall be true and correct as of
the date hereof and at the First Closing Date as though then made and, with
respect to the Optional Additional Securities, as of each Option Closing Date
as though then made.&#160; On or prior to the
First Closing Date and, with respect to the Optional Additional Securities,
each Option Closing Date, the Company and the Guarantors and each other party
to the Documents (other than the Initial Purchasers) shall have performed or
complied with all of the agreements and satisfied all conditions on their
respective parts to be performed, complied with or satisfied pursuant to the
Documents, including, without limitation, all of the conditions set forth below
(other than conditions to be satisfied by such other parties, which the failure
to so satisfy would not, individually or in the aggregate, have a Material
Adverse Effect).</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<div>
 <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
injunction, restraining order or order of any nature by a Governmental
Authority shall have been issued as of the First Closing Date and, with respect
to the Optional Additional Securities, each Option Closing Date, that would
prevent or materially interfere with the consummation of the Offering or any of
the transactions contemplated under the Documents; and no stop order suspending
the qualification or exemption from qualification of any of the Securities in
any jurisdiction shall have been issued and no Proceeding for that purpose
shall have been commenced or, to the knowledge of the Company, after due
inquiry, be pending or contemplated as of the First Closing Date and, with
respect to the Optional Additional Securities, each Option Closing Date.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
action shall have been taken and no Applicable Law shall have been enacted,
adopted or issued that would, as of the First Closing Date and, with respect to
the Optional Additional Securities, each Option Closing Date, prevent the
consummation of the Offering or any of the transactions contemplated under the
Documents. No Proceeding shall be pending or, to the knowledge of the Company,
after due inquiry, threatened other than Proceedings that (A) if adversely
determined would not, individually or in the aggregate, adversely affect the
issuance or marketability of the Securities or the issuance of the Shares upon
conversion of the Offered Securities at the option of the holders thereof, and
(B) would not, individually or in the aggregate, have a Material Adverse
Effect.&#160; The Company shall not have
amended or supplemented the Time of Sale Document or the Final Offering
Memorandum unless the Initial Purchasers shall previously have been advised of
such proposed amendment or supplement at least two business days prior to the
proposed use, and shall not have reasonably objected to such amendment or
supplement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Subsequent
to the respective dates as of which data and information is given in the Time
of Sale Document and the Final Offering Memorandum, there shall not have been
any Material Adverse Change.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Nasdaq Global Market shall have issued a letter concurring with the Company&#146;s
view that the issuance of the Securities pursuant to the terms hereof and of
the Securities and the Indenture does not require shareholder approval.&#160; The Nasdaq Global Market shall have approved
the Company&#146;s listing application for the Shares to be issued upon conversion
of the Securities and the Shares shall have been approved for quotation on the
Nasdaq Global Market.&#160; The Company&#146;s
Common Stock shall not have been suspended by the SEC or the Nasdaq Global
Market.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Securities shall have been designated PORTAL securities in accordance with the
rules and regulations adopted by the National Association of Securities Dealers,
Inc. relating to trading in the PORTAL Market and all agreements set forth in
the representation letter of the Company and the Guarantors to DTC relating to
the approval of the Securities by DTC for &#147;book-entry&#148; transfer shall have been
complied with.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>On
or after the date hereof, (i) there shall not have occurred any downgrading,
suspension or withdrawal of, nor shall any notice have been given of any
potential or intended downgrading, suspension or withdrawal of, or of any
review (or of any potential or intended review) for a possible change that does
not indicate the direction of the possible change in, any rating of the Company
or any securities of the Company (including, without limitation, the placing of
any of the foregoing ratings on credit watch with negative or developing
implications or under review with an uncertain direction) by any &#147;nationally
recognized statistical rating organization&#148; as such term is defined for
purposes of Rule 436(g)(2) under the Act, (ii) there shall not have occurred
any change, nor shall any notice have been given of any potential or intended
change, in the outlook for any rating of the Company or any securities of the
Company by any such rating </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">organization and (iii) no such rating organization
shall have given notice that it has assigned (or is considering assigning) a
lower rating to the Notes than that on which the Notes were marketed.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Initial Purchasers shall have received on the applicable Closing Date:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>certificates
dated the First Closing Date and, with respect to the Optional Additional
Securities, each Option Closing Date, signed by (1) the Chief Executive Officer
and (2) the principal financial or accounting officer of the Company, on behalf
of the Company and the Guarantors, to the effect that (a) the representations
and warranties set forth in Section 4 hereof, in each of the Documents and the
Perfection Certificate are true and correct in all material respects with the
same force and effect as though expressly made at and as of the First Closing
Date and, with respect to the Optional Additional Securities, each Option
Closing Date, (b) the Company and the Guarantors have performed and complied
with all agreements and satisfied all conditions in all material respects on
their part to be performed or satisfied at or prior to the First Closing Date
and, with respect to the Optional Additional Securities, each Option Closing
Date, (c) at the First Closing Date and, with respect to the Optional
Additional Securities, each Option Closing Date, since the date hereof or since
the date of the most recent financial statements in the Time of Sale Document
and the Final Offering Memorandum (exclusive of any amendment or supplement
thereto after the date hereof), no event or events have occurred, no information
has become known nor does any condition exist that, individually or in the
aggregate, would have a Material Adverse Effect, (d) since the date of the most
recent financial statements in the Time of Sale Document and the Final Offering
Memorandum (exclusive of any amendment or supplement thereto after the date
hereof), other than as described in the Time of Sale Document and the Final
Offering Memorandum or contemplated hereby, neither the Company nor any
Subsidiary of the Company has incurred any liabilities or obligations, direct
or contingent, not in the ordinary course of business, that are material to the
Company and the Subsidiaries, taken as a whole, or entered into any
transactions not in the ordinary course of business that are material to the
business, condition (financial or otherwise) or results of operations or
prospects of the Company and the Subsidiaries, taken as a whole, and there has
not been any change in the capital stock or long-term indebtedness of the
Company or any Subsidiary of the Company that is material to the business,
condition (financial or otherwise) or results of operations or prospects of the
Company and the Subsidiaries, taken as a whole, (e) there shall have been no
dividend or distribution of any kind declared, paid or made by the Company on
any class of its Common Stock, and (f) the sale of the Securities has not been
enjoined (temporarily or permanently).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>a
certificate, dated the First Closing Date and, with respect to the Optional
Additional Securities, each Option Closing Date, executed by the Secretary of
the Company and each Guarantor, certifying such matters as the Initial
Purchasers may reasonably request.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>a
certificate of solvency, dated the First Closing Date and, with respect to the
Optional Additional Securities, each Option Closing Date, executed by the
principal financial or accounting officer of the Company substantially in the
form previously approved by the Initial Purchasers or their counsel.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>evidence
satisfactory to the Initial Purchasers and the Collateral Agent that the
insurance policies required by the Indenture and any Collateral Agreement are
in full force and effect together with, in respect of those insurance policies
maintained with respect to the properties of the Guarantors, (A) endorsements
naming the Collateral Agent, on behalf of the secured parties, as an additional
insured and/or loss payee and (B) a provision that </p>


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<p style="margin:0pt 0pt 12.0pt 72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">cancellation, material
addition in amount or material change in coverage shall not be effective until
30 days after written notice to the Collateral Agent.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>evidence
acceptable to the Initial Purchasers of payment or arrangements for payment by
the Guarantors of all applicable recording taxes, fees, charges, costs and
expenses required for the recording of the Collateral Agreements.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vi)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>all
certificates, agreements or instruments representing or evidencing Capital
Stock pledged to the Collateral Agent (the &#147;<u>Pledged Shares</u>&#148;) accompanied
by instruments of transfer and stock powers undated and endorsed in blank.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(vii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
opinion of Andrews Kurth LLP, counsel to the Company and the Guarantors, dated
the First Closing Date and, with respect to the Optional Additional Securities,
each Option Closing Date, in form and substance reasonably satisfactory to the
Initial Purchasers.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(viii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
opinion of Willkie Farr &amp; Gallagher LLP, regulatory counsel to the Company,
dated the First Closing Date and, with respect to the Optional Additional
Securities, each Option Closing Date, reasonably satisfactory to the Initial
Purchasers in substantially the form of <u>Exhibit A</u> attached hereto.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ix)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
FCC opinion of Willkie Farr &amp; Gallagher LLP, regulatory counsel to the
Company, dated the First Closing Date and, with respect to the Optional
Additional Securities, each Option Closing Date, reasonably satisfactory to the
Initial Purchasers in substantially the form of <u>Exhibit B</u> attached
hereto.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(x)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>an
opinion, dated the First Closing Date and, with respect to the Optional
Additional Securities, each Option Closing Date, of Paul, Hastings, Janofsky
&amp;Walker LLP, counsel to the Initial Purchasers, in form and substance
satisfactory to the Initial Purchasers covering such matters as are customarily
covered in such opinions.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Initial Purchaser shall have received from Ernst &amp; Young LLP, independent
registered public accounting firm, and KBA Group LLP, independent registered
public accounting firm, with respect to the Company and its predecessor, (A) a
customary comfort letter, dated the date hereof, in form and substance
reasonably satisfactory to the Initial Purchasers and their counsel, with
respect to the financial statements and certain financial information contained
in the Preliminary Offering Memorandum and the Final Offering Memorandum (in
the case of Ernst &amp; Young LLP) and the Time of Sale Document (in the case
of KBA Group LLP), and (B) a customary comfort letter, dated the First Closing
Date and, with respect to the Optional Additional Securities, each Option
Closing Date, in form and substance reasonably satisfactory to the Initial
Purchasers and its counsel, to the effect that Ernst&amp; Young LLP and KBA
Group LLP reaffirm the statements made in their letters furnished pursuant to
clause (A) with respect to the financial statements and certain financial
information contained in the Time of Sale Document and the Final Offering
Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(j)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
of the Documents shall have been executed and delivered by all parties thereto
(other than the Initial Purchasers), and the Initial Purchasers shall have
received a fully executed original of each Document.</p>


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<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(k)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Initial Purchasers shall have received copies of all opinions, certificates,
letters and other documents delivered under or in connection with the Offering
or any transaction contemplated in the Documents.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(l)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
terms of each Document shall conform in all material respects to the
description thereof in the Time of Sale Document and the Final Offering
Memorandum.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(m)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Collateral Agent shall have received (with a copy for each of the Initial
Purchasers) on the First Closing Date:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>appropriately
completed copies of Uniform Commercial Code financing statements naming the
Company and each Guarantor as a debtor and the Collateral Agent as the secured
party, or other similar instruments or documents to be filed under the UCC of
all jurisdictions as may be necessary or, in the reasonable opinion of the
Collateral Agent and its counsel, desirable to perfect the security interests
of the Collateral Agent pursuant to the Collateral Agreements;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>appropriately
completed copies of Uniform Commercial Code Form UCC-3 termination
statements, if any, necessary to release all Liens (other than Permitted Liens)
of any Person in any collateral described in any security agreement previously
granted by any Person;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>certified
copies of Uniform Commercial Code Requests for Information or Copies (Form UCC-11),
or a similar search report certified by a party acceptable to the Collateral
Agent, dated a date reasonably near to the First Closing Date, listing all
effective financing statements which name the Company or any Guarantor (under
its present name and any previous names) as the debtor, together with copies of
such financing statements (none of which shall cover any collateral described
in any Collateral Agreement, other than such financing statements that evidence
Permitted Liens);</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iv)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>such
other approvals, opinions, or documents as the Collateral Agent may reasonably
request in form and substance reasonably satisfactory to the Collateral Agent;
and</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(v)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
Collateral Agent and its counsel shall be reasonably satisfied that<font style="font-style:normal;font-weight:normal;text-decoration:none;"> (i)</font> the Lien granted to the Collateral Agent, for the
benefit of the secured parties in the collateral described above is of the
priority described in the Time of Sale Document and the Final Offering
Memorandum; and<font style="font-style:normal;font-weight:normal;text-decoration:none;"> (ii)</font> no Lien exists on any of the
collateral described above other than the Lien created in favor of the
Collateral Agent, for the benefit of the secured parties, pursuant to a
Collateral Agreement, in each case subject to the Permitted Liens.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(n)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company&#146;s shareholders, holding a sufficient number of shares of the Company&#146;s
Common Stock to approve the terms of the Securities and the issuance of the
Shares upon the conversion thereof pursuant to the terms of the Securities and
the Indenture, shall have irrevocably agreed to vote in favor of a resolution
to approve the terms of the Securities and such issuance of Shares.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:72.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Indemnification and Contribution</u></font></b>.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company and each of the Guarantors jointly and severally agree to indemnify and
hold harmless each Initial Purchaser, the directors, officers and employees of
each Initial Purchaser, and each person, if any, who controls either Initial
Purchaser within the meaning of the Act or the Exchange Act, against any
losses, claims, damages or liabilities of any kind to which the Initial </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Purchaser, director, officer, employee or such
controlling person may become subject under the Act, the Exchange Act or other
federal or state statutory law or regulation, or at common law or otherwise
(including in settlement of any litigation, if such settlement is effected with
the written consent of the Company (not to be unreasonably withheld, delayed or
conditioned)), insofar as any such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
untrue statement or alleged untrue statement of a material fact contained in
the Time of Sale Document or the Final Offering Memorandum, or any amendment or
supplement thereto;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
omission or alleged omission to state, in the Time of Sale Document or the
Final Offering Memorandum or any amendment or supplement thereto, a material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 72.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
breach by the Company or any of the Guarantors of their respective
representations, warranties and agreements set forth herein or of applicable
law;</p>

<p style="margin:0pt 0pt 12.0pt 38.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and, subject to the provisions hereof, will reimburse, as incurred, each
Initial Purchaser, director, officer, employee and each such controlling person
for any legal or other expenses incurred by them in connection with
investigating, defending against or appearing as a third-party witness in
connection with any such loss, claim, damage, liability or action in respect
thereof; <u>provided</u>, <u>however</u>, the Company and the Guarantors will
not be liable in any such case to the extent (but only to the extent) that a
court of competent jurisdiction shall have determined by a final, unappealable
judgment that such loss, claim, damage or liability resulted solely from any
untrue statement or alleged untrue statement or omission or alleged omission
made in the Time of Sale Document or the Final Offering Memorandum or any
amendment or supplement thereto in reliance upon and in conformity with written
information concerning any Initial Purchaser furnished to the Company by the
Representative specifically for use therein, it
being understood and agreed that the only such information furnished by any
Initial Purchaser to the Company consists of the information described in
Section 12 hereof.&#160; The indemnity
agreement set forth in this Section 8 shall be in addition to any liability
that the Company and the Guarantors may otherwise have to the indemnified parties.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Each
Initial Purchaser, severally and not jointly, agrees to indemnify and hold
harmless each of the Company, each of the Guarantors and their respective
directors, officers and each person, if any, who controls the Company within
the meaning of Section 15 of the Act or Section 20 of the Exchange Act against
any losses, claims, damages or liabilities to which the Company, any of the
Guarantors or any such director, officer or controlling person may become
subject under the Act, the Exchange Act or otherwise, insofar as a court of
competent jurisdiction shall have determined by a final, unappealable judgment
that such losses, claims, damages or liabilities (or actions in respect
thereof) have resulted solely from (i) any untrue statement or alleged untrue
statement of any material fact contained in the Time of Sale Document or the
Final Offering Memorandum or any amendment or supplement thereto or (ii) the
omission or the alleged omission to state therein a material fact required to
be stated in the Time of Sale Document or the Final Offering Memorandum or any
amendment or supplement thereto or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, in each
case to the extent (but only to the extent) that such untrue statement or
alleged untrue statement or omission or alleged omission was made in reliance
upon and in conformity with written information concerning such Initial
Purchaser, furnished to the Company or its agents by the Representative
specifically for use therein; and, subject to the limitation set forth
immediately </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">preceding this
clause, will reimburse, as incurred, any legal or other expenses incurred by
the Company, each of the Guarantors or any such director, officer or controlling
person in connection with any such loss, claim, damage, liability or action in
respect thereof.&#160; This indemnity
agreement will be in addition to any liability that the Initial Purchasers may
otherwise have to the indemnified parties.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>As
promptly as reasonably practicable after receipt by an indemnified party under
this Section 8 of notice of the commencement of any action for which such
indemnified party is entitled to indemnification under this Section 8, such
indemnified party will, if a claim in respect thereof is to be made against the
indemnifying party under this Section 8, notify the indemnifying party of the
commencement thereof in writing; but the omission to so notify the indemnifying
party (i) will not relieve such indemnifying party from any liability under
paragraph (a) or (b) above unless and only to the extent it is materially
prejudiced as a result thereof and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraphs (a) and (b) above.&#160; In case any such action is brought against
any indemnified party, and it notifies the indemnifying party of the
commencement thereof, the indemnifying party will be entitled to participate therein
and, to the extent that it may elect,
jointly with any other indemnifying party similarly notified, to assume the
defense thereof, with counsel reasonably satisfactory to such indemnified
party; <u>provided</u>, <u>however</u>, that if (i) the use of counsel chosen
by the indemnifying party to represent the indemnified party would present such
counsel with a conflict of interest, (ii) the defendants in any such action
include both the indemnified party and the indemnifying party, and the
indemnified party shall have concluded that a
conflict may arise between the positions of the indemnifying party and the
indemnified party in conducting the defense of any such action or that
there may be one or more legal defenses available to it and/or other
indemnified parties that are different from or additional to those available to
the indemnifying party, or (iii) the indemnifying party shall not have employed
counsel reasonably satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after receipt by the indemnifying
party of notice of the institution of such action, then, in each such case, the
indemnifying party shall not have the right to direct the defense of such
action on behalf of such indemnified party or parties and such indemnified
party or parties shall have the right to select separate counsel to defend such
action on behalf of such indemnified party or parties at the expense of the
indemnifying party.&#160; After notice from
the indemnifying party to such indemnified party of its election so to assume
the defense thereof and approval by such indemnified party of counsel appointed
to defend such action, the indemnifying party will not be liable to such
indemnified party under this Section 8 for any legal or other expenses, other than
reasonable costs of investigation, subsequently incurred by such indemnified
party in connection with the defense thereof, unless (i) the indemnified party
shall have employed separate counsel in accordance with the proviso to the
immediately preceding sentence (it being understood, however, that in
connection with such action the indemnifying party shall not be liable for the
expenses of more than one separate counsel (in addition to local counsel) in
any one action or separate but substantially similar actions in the same
jurisdiction arising out of the same general allegations or circumstances,
designated by the Initial Purchasers in the case of paragraph (a) of this
Section 8 or the Company in the case of paragraph (b) of this Section 8,
representing the indemnified parties under such paragraph (a) or paragraph (b),
as the case may be, who are parties to such action or actions), (ii) the
indemnifying party has authorized in writing the employment of counsel for the
indemnified party at the expense of the indemnifying party or (iii) the indemnifying party shall not have employed
counsel satisfactory to the indemnified party to represent the indemnified
party within a reasonable time after notice of commencement of the action, in
each of which cases the fees and expenses of counsel shall be at the expense of
the indemnifying party and shall be paid as they are incurred.&#160; After such notice from the indemnifying party
to such indemnified party, the indemnifying party will not be liable for the
costs and expenses of any settlement of such action effected by such </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">indemnified party without the prior written consent of
the indemnifying party (which consent shall not be unreasonably withheld)
unless such indemnified party waived in writing its rights under this Section
8, in which case the indemnified party may effect such a settlement without
such consent.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>No
indemnifying party shall be liable under this Section 8 for any settlement of
any claim or action (or threatened claim or action) effected without its
written consent, which shall not be unreasonably withheld, but if a claim or
action settled with its written consent, or if there be a final judgment for
the plaintiff with respect to any such claim or action, each indemnifying party
jointly and severally agrees, subject to the exceptions and limitations set
forth above, to indemnify and hold harmless each indemnified party from and
against any and all losses, claims, damages or liabilities (and legal and other
expenses as set forth above) incurred by reason of such settlement or
judgment.&#160; No indemnifying party shall,
without the prior written consent of the indemnified party, effect any
settlement or compromise of any pending or threatened proceeding in respect of which
the indemnified party is or could have been a party, or indemnity could have
been sought hereunder by the indemnified party, unless such settlement (A)
includes an unconditional written release of the indemnified party, in form and
substance satisfactory to the indemnified party, from all liability on claims
that are the subject matter of such proceeding and (B) does not include any
statement as to an admission of fault, culpability or failure to act by or on
behalf of the indemnified party.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>In
circumstances in which the indemnity agreement provided for in the preceding
paragraphs of this Section 8 is unavailable to, or insufficient to hold
harmless, an indemnified party in respect of any losses, claims, damages or
liabilities (or actions in respect thereof), each indemnifying party, in order
to provide for just and equitable contributions, shall contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims,
damages or liabilities (or actions in respect thereof) in such proportion as is
appropriate to reflect (i) the relative benefits received by the indemnifying
party or parties, on the one hand, and the indemnified party, on the other,
from the Offering or (ii) if the allocation provided by the foregoing clause
(i) is not permitted by applicable law, not only such relative benefits but
also the relative fault of the indemnifying party or parties, on the one hand,
and the indemnified party, on the other, in connection with the statements or
omissions or alleged statements or omissions that resulted in such losses,
claims, damages or liabilities (or actions in respect thereof).&#160; The relative benefits received by the
Company, on the one hand, and the Initial Purchasers, on the other, shall be
deemed to be in the same proportion as the total proceeds from the Offering
(before deducting expenses) received by the Company bear to the total discounts
and commissions received by the Initial Purchasers.&#160; The relative fault of the parties shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company or any of
the Guarantors, on the one hand, or either of the Initial Purchasers, on the
other, the parties&#146; relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission or alleged
statement or omissions, and any other equitable considerations appropriate in
the circumstances.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
Company, the Guarantors and the Initial Purchasers agree that it would not be
equitable if the amount of such contribution determined pursuant to the
immediately preceding paragraph (e) were determined by pro rata or per capita
allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the first sentence of the
immediately preceding paragraph (e).&#160;
Notwithstanding any other provision of this Section 8, no Initial
Purchaser shall be obligated to make contributions hereunder that in the
aggregate exceed the total discounts, commissions and other compensation
received by such Initial Purchaser under this Agreement, less the aggregate
amount of any damages that such Initial Purchaser have </p>


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<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">otherwise been required to pay by reason of the untrue
or alleged untrue statements or the omissions or alleged omissions to state a
material fact.&#160; No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.&#160; For
purposes of the immediately preceding paragraph (e), each director, officer and
employee of the Initial Purchasers and each person, if any, who controls any
Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act shall have the same rights to contribution as the Initial
Purchasers, and each director of the Company and the Guarantors, each officer
of the Company and the Guarantors and each person, if any, who controls either
of the Company or the Guarantors within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act, shall have the same rights to contribution as
the Company and the Guarantors.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Termination</u></font></b>.&nbsp;&nbsp; The Initial Purchasers
may terminate this Agreement at any time prior to a Closing Date by written
notice to the Company if any of the following has occurred:</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>since
the date hereof, any Material Adverse Effect or development involving or
expected to result in a prospective Material Adverse Effect that could, in the
Initial Purchasers&#146; reasonable judgment, be expected to (i) make it
impracticable or inadvisable to proceed with the offering or delivery of the
Offered Securities on the terms and in the manner contemplated in the Time of
Sale Document and the Final Offering Memorandum, or (ii) materially impair the
investment quality of any of the Offered Securities;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
failure of the Company or the Guarantors to satisfy the conditions contained in
Section 7(a) hereof on or prior to any Closing Date;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
outbreak or escalation of hostilities or other national or international
calamity or crisis, including acts of terrorism, or material adverse change or
disruption in economic conditions in, or in the financial markets of, the
United States (it being understood that any such change or disruption shall be
relative to such conditions and markets as in effect on the date hereof), if
the effect of such outbreak, escalation, calamity, crisis, act or material
adverse change in the economic conditions in, or in the financial markets of,
the United States could be reasonably expected to make it, in the Initial
Purchasers&#146; judgment, impracticable or inadvisable to market or proceed with
the offering or delivery of the Offered Securities on the terms and in the
manner contemplated in the Time of Sale Document and the Final Offering
Memorandum or to enforce contracts for the sale of any of the Offered
Securities;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
Nasdaq Global Market shall not concur with the Company&#146;s view that the issuance
of the Securities pursuant to the terms hereof and of the Securities and the
Indenture does not require shareholder approval or the Nasdaq Global Market
shall not have approved the Company&#146;s listing application for the Shares to be
issued upon conversion of the Securities up to the Share Cap or the Shares up
to the Share Cap shall not have been approved for quotation on the Nasdaq
Global Market; trading in the Company&#146;s Common Stock shall have been suspended
by the SEC or the NASDAQ Global Market or the suspension or limitation of
trading generally in securities on the New York Stock Exchange, the American
Stock Exchange or the NASDAQ Global Market or any setting of limitations on
prices for securities on any such exchange or NASDAQ Global Market;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
enactment, publication, decree or other promulgation after the date hereof of
any Applicable Law that in the Initial Purchasers&#146; counsel&#146;s reasonable opinion
materially and adversely affects, or could be reasonably expected to materially
and adversely affect, the properties, business, prospects, operations,
earnings, assets, liabilities or condition (financial or otherwise) of the
Company and the Subsidiaries, taken as a whole;</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


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<div>
 <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>any
securities of the Company or the any of the Guarantors shall have been
downgraded or placed on any &#147;watch list&#148; for possible downgrading by any &#147;nationally
recognized statistical rating organization,&#148; as such term is defined for
purposes of Rule 436(g)(2) under the Act; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
representation and warranty contained in Section 4(a) of this Agreement is
incorrect in any way; or</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>the
declaration of a banking moratorium by any Governmental Authority, or the
taking of any action by any Governmental Authority after the date hereof in
respect of its monetary or fiscal affairs that in the Initial Purchasers&#146;
opinion could reasonably be expected to have a material adverse effect on the
financial markets in the United States or elsewhere.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Survival of Representations and Indemnities</u>.</font></b>&nbsp;&nbsp; The representations
and warranties, covenants, indemnities and contribution and expense
reimbursement provisions and other agreements, representations and warranties
of the Company and the Guarantors set forth in or made pursuant to this
Agreement shall remain operative and in full force and effect, and will
survive, regardless of (i) any investigation, or statement as to the results
thereof, made by or on behalf of any Initial Purchaser, (ii) acceptance of the Offered
Securities, and payment for them hereunder, and (iii) any termination of this
Agreement.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Default by an Initial Purchaser</u></font></b>.&nbsp;&nbsp; If
either Initial Purchaser shall breach its obligations to purchase the Offered
Securities that it has agreed to purchase hereunder on any Closing Date, then
the other Initial Purchaser may, but shall not be required to, purchase such
Offered Securities or may make arrangements satisfactory to the Company for the
purchase of the Offered Securities by other persons.&#160; If such non-defaulting Initial Purchaser does
not elect to purchase such Offered Securities and arrangements satisfactory to
the Company for the purchase of such Offered Securities are not made within 36
hours after such default, this Agreement shall terminate with respect to such
defaulting Initial Purchaser without liability on the part of the Company.&#160; Nothing herein shall relieve the Initial
Purchaser from liability for its default.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman"><font style="font-size:10.0pt;font-weight:bold;">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Information Supplied by the Initial Purchaser</u></font></b>.&nbsp;&nbsp; The statements set forth on
the cover page with respect to the price and the names of the Initial
Purchasers and in the first sentence of the third paragraph and the tenth
paragraph under the heading &#147;Plan of Distribution&#148; in the&#160; Time of Sale Document and the Final Offering
Memorandum (to the extent such statements relate to the Initial Purchasers)
constitute the only information furnished by the Initial Purchasers to the
Company or the Subsidiaries for the purposes of Sections 4(a) and 8 hereof.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Fiduciary Relationship.</u></font></b>&nbsp;&nbsp; The
Company and the Guarantors hereby acknowledge that each of the Initial
Purchasers is acting solely as an initial purchaser in connection with the
purchase and sale of the Offered Securities. The Company and the Guarantors further
acknowledge that each of the Initial Purchasers is acting pursuant to a
contractual relationship created solely by this Agreement entered into on an
arm&#146;s length basis, and in no event do the parties intend that any Initial
Purchaser act or be responsible as a fiduciary to the Company or any of the
Subsidiaries or their respective management, stockholders or creditors or any
other person in connection with any activity that any Initial Purchaser may
undertake or have undertaken in furtherance of the purchase and sale of the Offered
Securities, either before or after the date hereof.&#160; Each of the Initial Purchasers hereby
expressly disclaims any fiduciary or similar obligations to the Company or any
of the Subsidiaries or their respective management, stockholders or creditors
or any other person, either in connection with the transactions contemplated by
this Agreement or any matters leading up to such transactions, and the Company and
the Guarantors hereby confirm their understanding and agreement to that effect.
The Company and the Guarantors and each of the Initial Purchasers agree that
they are each responsible for </p>


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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">making their own independent judgments with respect to
any such transactions and that any opinions or views expressed by any Initial
Purchaser to the Company or the Subsidiaries regarding such transactions,
including, but not limited to, any opinions or views with respect to the price
or market for the Offered Securities, do not constitute advice or
recommendations to the Company or the Subsidiaries. The Company and the
Guarantors hereby waive and release, to the fullest extent permitted by law,
any claims that either of the Company or any of the Guarantors may have against
any Initial Purchaser with respect to any breach or alleged breach of any
fiduciary or similar duty to the Company or the Subsidiaries in connection with
the transactions contemplated by this Agreement or any matters leading up to
such transactions.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-indent:72.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">14.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Miscellaneous</u></font></b>.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Notices
given pursuant to any provision of this Agreement shall be addressed as
follows: (i) if to the Company, to: FiberTower Corporation, 185 Berry Street,
Suite 4800, San Francisco, CA 94107, Attention: Thomas A. Scott, with a copy
to: Andrews Kurth LLP, 600 Travis, Suite 4200, Houston, TX 77002, Attention: W.
Mark Young, Esq., and (ii) if to the Initial Purchasers, to: Jefferies &amp;
Company, Inc., 520 Madison Avenue, New York, NY 10022, with a copy to: Paul,
Hastings, Janofsky &amp; Walker LLP, 75 East 55th Street, New York, NY 10022-3205,
Attention: William F. Schwitter, Esq., (or in any case to such other address as
the person to be notified may have requested in writing).</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This
Agreement has been and is made solely for the benefit of and shall be binding
upon the Company and the Guarantors, the Initial Purchasers and, to the extent
provided in Section 8 hereof, the controlling persons, officers, directors,
partners, employees, representatives and agents referred to in Section 8, and
their respective heirs, executors, administrators, successors and assigns, all
as and to the extent provided in this Agreement, and no other person shall
acquire or have any right under or by virtue of this Agreement. The term &#147;successors
and assigns&#148; shall not include a purchaser of any of the Securities from any Initial
Purchaser merely because of such purchase.&#160;
Notwithstanding the foregoing, it is expressly understood and agreed
that each purchaser who purchases Securities from any Initial Purchaser is
intended to be a beneficiary of the covenants of the Company and the Guarantors
contained in the Registration Rights Agreement to the same extent as if the Securities
were sold and those covenants were made directly to such purchaser by the
Company and the Guarantors, and each such purchaser shall have the right to
take action against the Company and the Guarantors to enforce, and obtain
damages for any breach of, those covenants.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(c)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b>THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, AND
THE TERMS AND CONDITIONS SET FORTH HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE
AND TO BE PERFORMED WHOLLY THEREIN, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS
OF LAW.</b></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>EACH
OF THE COMPANY AND EACH GUARANTOR HEREBY EXPRESSLY AND IRREVOCABLY (I) SUBMITS
TO THE NON-EXCLUSIVE JURISDICTION OF THE FEDERAL AND STATE COURTS SITTING IN
THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN ANY SUIT OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY;
AND (II) WAIVES (A) ITS RIGHT TO A TRIAL BY JURY IN ANY LEGAL ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY, OR
ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR
WRITTEN) OR ACTIONS OF THE INITIAL PURCHASERS AND FOR ANY COUNTERCLAIM RELATED
TO ANY OF THE </p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">29</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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 <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"></p>


<p style="margin:0pt 0pt 12.0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOREGOING AND (B) ANY OBLIGATION WHICH IT MAY HAVE OR
HEREAFTER MAY HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY
SUCH COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN
BROUGHT IN AN INCONVENIENT FORUM.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(e)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This
Agreement may be signed in various counterparts, which together shall
constitute one and the same instrument.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(f)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>The
headings in this Agreement are for convenience of reference only and shall not
limit or otherwise affect the meaning hereof.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(g)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>If
any term, provision, covenant or restriction of this Agreement is held by a
court of competent jurisdiction to be invalid, illegal, void or unenforceable,
the remainder of the terms, provisions, covenants and restrictions set forth
herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same
or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(h)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>This
Agreement may be amended, modified or supplemented, and waivers or consents to
departures from the provisions hereof may be given, provided that the same are
in writing and signed by all of the signatories hereto.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">30</font></p>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>


<p style="margin:0pt 0pt 12.0pt;text-indent:72.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Please confirm that the foregoing correctly sets forth
the agreement between the Company, the Guarantors and the Initial Purchasers.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower Corporation</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower Network Services Corp.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower Solutions Corporation</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ART Licensing Corporation</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ART Leasing, Inc.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Teligent Services Acquisition, Inc.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.16%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Thomas Scott</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.84%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.78%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="45%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:45.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Chief Financial Officer</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Accepted and
Agreed to:<br>
JEFFERIES &amp; COMPANY, INC.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DEUTSCHE BANK
SECURITIES INC.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">JEFFERIES &amp;
COMPANY, INC.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->By:</p>
  </td>
  <td width="46%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:46.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Michael Henkin</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:46.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:&nbsp;Michael Henkin</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="46%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:46.64%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:&nbsp;&nbsp; Managing Director</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Acting on behalf of
itself and as the Representative<br>
of Deutsche Bank Securities Inc.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<br clear="all" style="page-break-before:always;">

<div style="font-family:Times New Roman;">
 <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE
I</font></u></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="83%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:83.28%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b>PRICING SUPPLEMENT</b></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.72%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">CONFIDENTIAL</font></b></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;">$350,000,000</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman"><img width="207" height="59" src="g224686kii001.jpg"></font></b></p>

<p style="font-size:12.0pt;font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FiberTower
Corporation</font></b><font size="5" style="font-size:18.0pt;"><br>
</font>9.00%
Convertible Senior Secured Notes due 2012</p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">This is the Pricing Supplement to the Preliminary Offering Memorandum
dated October 23, 2006 (the &#147;Preliminary Offering Memorandum&#148;) of FiberTower
Corporation (&#147;FiberTower&#148;), relating to the 9.00% Convertible Senior Secured
Notes due 2012 (the &#147;notes&#148;).</font></b></p>

<p style="margin:0pt 0pt 36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are issuing this
Pricing Supplement to reflect the pricing terms for the notes.&#160; The information in this Pricing Supplement
hereby amends, supplements, modifies and becomes part of, as of the date
hereof, the Preliminary Offering Memorandum and supersedes the information in
the Preliminary Offering Memorandum to the extent different from the information
in the Preliminary Offering Memorandum.&#160;
Terms that are defined in the Preliminary Offering Memorandum and used
in this Pricing Supplement shall have the respective meanings given them in the
Preliminary Offering Memorandum.&#160; You
should read this Pricing Supplement together with the Preliminary Offering
Memorandum before investing in the notes.</font></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">We have
not registered the notes, the guarantees or the common stock into which the
notes are convertible under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), or under the securities laws of any other jurisdiction.&#160; Unless they are registered, the securities
may be offered only in transactions exempt from or not subject to registration
under the Securities Act, or any other state securities laws.&#160; Therefore, we are only offering these
securities to qualified institutional buyers as defined in Rule 144A under the
Securities Act and to persons outside the United States under Regulation S of
the Securities Act.</font></b></p>

<div align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b><i style="font-weight:bold;">Sole Book-Running Manager</i></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Jefferies &amp; Company</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="5" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">Deutsche Bank Securities</font></b></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="font-weight:bold;margin:0pt -36.0pt 12.0pt 0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">The date of this pricing supplement is
October 25, 2006</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>
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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Issuer</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">FiberTower Corporation (&#147;FiberTower&#148; or the
  &#147;Company&#148;).</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities Offered</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Convertible Senior
  Secured Notes (the &#147;Notes&#148;).</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Distribution</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">144A / Regulation S &#151;
  with registration rights.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Principal Amount</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$350 million (plus an
  additional $52.5 million principal amount is available for purchase by the
  initial purchasers).</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gross Proceeds</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$350 million (plus an
  additional $52.5 million principal amount is available for purchase by the
  initial purchasers).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coupon</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.00% payable
  semi-annually.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Maturity Date</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15, 2012.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Issue Price</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100%.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest Payment Dates</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15 and May 15;
  beginning May 15, 2007.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Interest payable for
  the interest payment dates of May 15, 2007, November 15, 2007, May 15, 2008
  and November 15, 2008 is payable in cash. The Company may elect to pay
  interest in kind (PIK) for the interest payable on May 15, 2009, November 15,
  2009, May 15, 2010 and November 15, 2010, at a rate of 11.00% in lieu of cash
  interest payments. Interest is payable in cash thereafter.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Escrowed Interest</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On the closing date,
  the Company will deposit funds in an escrow account. Funds in the escrow
  account (the amount of which will be determined prior to the closing date)
  together with the proceeds from the investment thereof, will be sufficient to
  make the first four interest payments on the Notes.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conversion Price /
  Premium</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15.0%, representing an
  initial conversion price of $8.29 per share.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Redemption at Maturity</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless the Notes are
  previously redeemed or converted, the Company will redeem the Notes at
  125.411% of their principal amount on the maturity date, representing an
  annual internal rate of return of 12.00%, assuming that all interest payments
  are made in cash.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Trade Date</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thursday, October 26,
  2006.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Settlement Date</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thursday, November 9,
  2006 (T+10).</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:31.86%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">QIB</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="35%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:35.32%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Reg S</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">CUSIP Numbers</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.86%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">31567R AA 8</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="35%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:35.32%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">U31353 AA 0</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conversion</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You may convert the
  Notes into shares of common stock at an initial conversion rate equal to
  120.627 shares of common stock per $1,000 principal amount of Notes
  (representing an initial conversion price of $8.29 per share) at any time
  after 90 days from the initial issue date of the Notes until the final
  maturity date. Upon conversion, the Company will deliver shares of common
  stock and cash in respect of any fractional shares.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Conversion Prior to
  November 15, 2009</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you convert your
  Notes prior to November 15, 2009, you will be entitled to receive a
  make-whole premium within 30 days of the conversion date. This amount will
  consist of the present value of all required interest payments on the Notes
  as if paid in cash from the date of such conversion through November 15, 2009
  (including accrued but unpaid interest), computed using a discount rate equal
  to the reinvestment yield determined on the date of conversion, provided that
  this make-whole premium will not exceed $130.277 per $1,000 principal amount
  of the Notes.</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.46%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Optional Redemption</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" colspan="3" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.16%;">
  <p style="margin:4.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Notes are not
  redeemable before November 15, 2010. If the Company&#146;s common stock has traded
  at or above 150% of the then effective conversion price for 20 of any 30
  consecutive trading days and the daily trading volume for each such trading
  day, when multiplied by the closing sale price for such trading day, equals
  at least $8.0 million, the </font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="69%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.3%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Company may redeem any of the Notes, in whole or in
  part at any time on or after November 15, 2010. Upon any redemption, the
  Company will pay a redemption price equal to 100% of the aggregate accreted
  principal amount of the Notes, plus accrued and unpaid interest, and liquidated
  damages, if any, to the redemption date.</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:28.72%;">
  <p align="left" style="font-weight:bold;line-height:normal;margin:0pt 0pt .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Initial Purchasers</font></b></p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:49.6%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Name</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="17%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:17.3%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Principal Amount<br>
  of Notes:</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:49.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jefferies &amp; Company, Inc.</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="border:none;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="16%" valign="top" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:16.32%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">210,000,000</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deutsche Bank Securities</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="17%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:17.3%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140,000,000</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.72%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="49%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:49.6%;">
  <p style="margin:0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Total</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">$</font></b></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.32%;">
  <p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">350,000,000</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:12.0pt 0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The &#147;Description of the
Notes&#148; section of the Preliminary Offering Memorandum is hereby supplemented,
amended and modified as follows:</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To add Wells Fargo Bank, National
Association, as the trustee.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect throughout that the over-allotment
option will be structured as an option to purchase additional notes, rather
than an over-allotment option.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect that the record date for the Notes
will be the November 1 and May 1 immediately preceding the interest payment
date.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To delete and replace the second sentence of
the third paragraph under the heading &#147;&#151;Conversion of the Notes&#148; on page 101
with:&#160; &#147;Delivery of the conversion shares
and cash in lieu of fractional shares, if any, will be deemed to satisfy our
obligation to pay the Aggregate Accreted Principal Amount of the Notes plus all
accrued and unpaid interest and Liquidated Damages, if any, on the Notes.&#148;</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect that the Company will not issue
more than an aggregate of 28,767,197 shares of its common stock upon
conversions of the Notes and in payment of make-whole premium obligations.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect that conversions of Notes on or
prior to November 15, 2010 in connection with a fundamental change related to
consolidations and mergers will entitle Holders of the Notes to a make-whole
premium in certain circumstances.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect that the return in the definition
of &#147;Accretion Premium&#148; under the heading &#147;&#151;Certain Definitions&#148; on page 127
will be <font style="letter-spacing:-.1pt;">12.00%.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To
delete and replace the definition of &#147;Aggregate Accreted Principal Amount&#148;
under the heading &#147;&#151;Certain Definitions&#148; beginning on page 128 with:&#160; <font style="letter-spacing:-.1pt;">&#147;<i>Aggregate Accreted Principal Amount&#148;</i> means
an amount as calculated by the Company equal to 100% of the principal amount of
the Notes redeemed or repurchased or otherwise due plus the Accretion Premium
on the principal amount of such Notes. The applicable Aggregate Accreted
Principal Amount, as of any specified date (the &#147;Specified Date&#148;)&#160; for each $1,000 principal amount of Notes if
the Specified Date is one of the following dates (each a &#147;Semi-Annual Date&#148;),
the amount set forth opposite such date below:</font></p>

<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Semi-Annual&nbsp;Date</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Aggregate<br>
  Accreted<br>
  Principal<br>
  Amount($)</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Original Issue
  Date</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,000.00000</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2007</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,015.56084</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15,
  2007</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,031.49449</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2008</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,048.38415</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15,
  2008</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,066.28720</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2009</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,085.26444</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15,
  2009</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,105.38030</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2010</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,126.70312</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15,
  2010</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,149.30531</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2011</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,173.26363</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15,
  2011</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,198.65944</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">May 15, 2012</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,225.57901</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="87%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:87.04%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November 15, 2012</font></p>
  </td>
  <td width="2%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="10%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1,254.11375</font></p>
  </td>
  <td width="0%" valign="bottom" style="border:none;padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If the Specified Date occurs
between two Semi-Annual Dates the Aggregate Accreted Principal amount shall be,
the sum of (A) the Aggregate Accreted Principal Amount for the Semi-Annual Date
immediately preceding the Specified Date and (B) an amount equal to the product
of (a) the difference of (x) the Aggregate Accreted Principal Amount for the
immediately following Semi-Annual Date and (y) the Aggregate Accreted Principal
Amount for the immediately preceding Semi-Annual Date and (b) a fraction, the
numerator of which is the number of days elapsed from the immediately preceding
Semi-Annual Date to the Specified Date, calculated on a basis of a 360 day year
comprised of twelve 30 day months, and the denominator of which is 180 days,
except for the period from the Original Issue Date to the first Semi- Annual
Date immediately succeeding the Original Issue Date, which is 186 days.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To revise the Uniform Commercial Code
Sections in the definition of &#147;Excluded Assets&#148; under the heading &#147;&#151;Certain
Definitions&#148; beginning on page 135 to refer to <font style="letter-spacing:-.1pt;">Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code and
to add leased real property to the definition of &#147;Excluded Assets.&#148;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To add <font style="letter-spacing:-.1pt;">any
Notes and Guarantees issued upon the exercise by the initial purchasers of
their option to purchase additional Notes in this offering to t</font>he
definition of &#147;Note Indebtedness&#148; under the heading &#147;&#151;Certain Definitions&#148; on
page 138<font style="letter-spacing:-.1pt;">.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect October 25, 2006 as the date of
the Offering Memorandum in the definition of &#147;Permitted Business&#148; under the heading
&#147;&#151;Certain Definitions&#148; on page 139.</p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:6.0pt 0pt 12.0pt 36.0pt;text-indent:-18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12.</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>To reflect in the definition of &#147;Reinvestment
Yield&#148; under the heading &#147;&#151;Certain Definitions&#148; on page 142 that the
reinvestment yield will be calculated by reference to securities having a
maturity closest to November 15, 2009 (in the case of the make-whole premium
for conversions prior to November 15, 2009) and November 15, 2010 (in the case
of the make-whole premium for conversions upon a fundamental change relating to
consolidations and mergers).</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The &#147;Shares Eligible For Future Sale&#148; section of the Preliminary
Offering Memorandum is hereby supplemented, amended and modified to delete and
replace the third paragraph under the heading &#147;&#151;Registration Rights Agreements&#148;
on page 156 with &#147;The above-referenced restricted shares within the meaning of
Rule 144 under the Securities Act were issued in prior private placement
transactions.&#160; We entered into
registration rights agreements with the holders of those shares and have filed
a registration statement on Form S-3 with the SEC for the resale of those
shares.&#160; The restricted shares are freely
tradeable under the registration statement on Form S-3.&#148;</font></p>

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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SCHEDULE
II</font></u></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">INITIAL
PURCHASERS</font></u></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="83%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:83.54%;">
  <p align="left" style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Initial&nbsp;Purchasers</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:13.74%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Aggregate&nbsp;Principal<br>
  Amount&nbsp;of&nbsp;Firm<br>
  Securities&nbsp;to<br>
  be&nbsp;Purchased</font></b></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="83%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:83.54%;">
  <p style="margin:0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jefferies &amp;
  Company, Inc.</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="left" style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:12.76%;">
  <p style="margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">210,000,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="83%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:83.54%;">
  <p style="margin:6.0pt 0pt .0001pt 10.0pt;page-break-after:avoid;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Deutsche Bank Securities Inc.</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:6.0pt 0pt .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="13%" colspan="2" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:13.74%;">
  <p style="margin:6.0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">140,000,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:6.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr bgcolor="#CCEEFF" style="page-break-inside:avoid;">
  <td width="83%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:83.54%;">
  <p style="margin:6.0pt 0pt .0001pt 20.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:6.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="bottom" style="border:none;border-bottom:double windowtext 2.25pt;padding:0pt 0pt 0pt 0pt;width:1.0%;">
  <p align="left" style="margin:6.0pt 0pt .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">$</font></p>
  </td>
  <td width="12%" valign="bottom" style="border-bottom:double windowtext 2.25pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:12.76%;">
  <p style="margin:6.0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">350,000,000</font></p>
  </td>
  <td width="0%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:.34%;">
  <p style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p style="font-weight:bold;margin:0pt 0pt 12.0pt;text-align:right;text-decoration:underline;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">SCHEDULE III</font></u></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LIST
OF SUBSIDIARIES</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower
Network Services Corp.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">FiberTower
Solutions Corporation</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ART
Licensing Corp.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ART
Leasing, Inc.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Teligent
Services Acquisition, Inc.</font></p>

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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;text-indent:36.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
A</font></u></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF OPINIONS OF
WILLKIE FARR &amp; GALAGHER LLP</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; &nbsp;&nbsp; , 2006</font></p>

<p style="margin:0pt 5.75pt 12.0pt 0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jefferies &amp; Company,
Inc.<br>
Deutsche Bank Securities Inc.,<br>
As Initial Purchasers<br>
c/o Jefferies &amp; Company, Inc.<br>
520 Madison Avenue,<br>
12th Floor<br>
New York, New York 10022</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re: &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; FiberTower Corporation&#151;Offering of&#160;&#160;&#160; % Convertible Senior Secured Notes &nbsp;&nbsp; &nbsp;&nbsp;
due 2012</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies
and Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We have acted as special FCC counsel for
FiberTower Corporation, a Delaware corporation (&#147;FiberTower&#148; or the &#147;Company&#148;),
in connection with the Purchase Agreement, dated as of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; , 2006 (the &#147;Purchase Agreement&#148;), among
FiberTower Corporation, a Delaware corporation (the &#147;Issuer&#148;), the guarantors
party thereto and Jefferies &amp; Company, Inc. and Deutsche Bank Securities
Inc. (collectively, the &#147;Initial Purchasers&#148;).&#160;&#160;
Reference is also made to the Preliminary Offering Memorandum of the
Issuer, dated October 23, 2006 (the &#147;Preliminary Offering Memorandum&#148;), the
Pricing Supplement to the Preliminary Offering Memorandum, dated October 25,
2006 (the &#147;Pricing Supplement&#148;), and the Offering Memorandum of the Issuer,
dated October 25, 2006 (the &#147;Final Offering Memorandum&#148;), each relating to the
issue and sale by the Issuer and the purchase by the Initial Purchasers of
$350,000,000 aggregate principal amount of the Issuer&#146;s&#160;&#160; % Convertible Senior Secured Notes due 2013
(the &#147;Notes&#148;).&#160; All capitalized terms
used herein but not otherwise defined shall have the respective meanings
ascribed thereto in the Purchase Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter and the statements contained
herein are limited to our representation of the Company with respect to the
Communications Act of 1934, as amended, the rules and regulations of the
Federal Communications Commission (&#147;FCC&#148;), and written orders, policies, and
decisions of the FCC and the courts&#146; interpretation of them (herein defined
collectively as the &#147;Communications Act&#148;).&#160;&#160;
This letter does not address any other laws, statutes, rules or
regulations, or facts that may be relevant with respect to any other laws,
statutes, rules or regulations.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In connection with the preparation of the
Preliminary Offering Memorandum, the Pricing Supplement and the Final Offering
Memorandum, we have participated in certain conversations with counsel for the
Initial Purchasers and with the officers, counsel, and other representatives of
the Issuer at which the contents of the Preliminary Offering Memorandum, the
Pricing Supplement and the Final Offering Memorandum and related matters were
discussed.&#160; We also reviewed and relied
upon, without independent verification, certain corporate records and
documents, letters from counsel and accountants, and oral and written
statements of officers and other representatives of the Issuer and others as to
the existence and consequence of certain factual and other matters.&#160; We have relied upon originals or copies
certified or otherwise identified to our satisfaction, of such </font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">instruments, documents, and records as we have
deemed relevant and necessary.&#160; In
examining such instruments, documents, and records, we have assumed the
genuineness of all signatures on instruments, documents and records, the
authenticity of all instruments, documents and records submitted to us as
originals, and the conformity to authentic originals of all instruments,
documents and records submitted to us as copies.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As used herein, the term &#147;knowledge&#148;
shall mean the actual knowledge (that is, the conscious awareness of facts or
other information) of attorneys in our firm who have devoted substantive
attention to the matters addressed in this letter.&#160; Such term does not include any knowledge of
other attorneys within our firm or any constructive or imputed notice of any
matters or items of information.&#160;&#160; We
have not been asked to undertake nor have we undertaken any independent
investigation to determine the existence or absence of any fact, and no
inference as to our knowledge of the existence or absence of any fact should be
drawn from our representation of FiberTower, as described above, or from the
statements set forth herein.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to the foregoing, we confirm to
you that, on the basis of the information we gained in the course of performing
the services referred to above, we have no knowledge of any fact that leads us
to believe that the &#147;Risk Factors&#148; and &#147;Regulatory Environment&#148; sections within
the Preliminary Offering Memorandum, taken together with the Pricing
Supplement, as of the time of execution of the Purchase Agreement by the
parties thereto, or the &#147;Risk Factors&#148; and &#147;Regulatory Environment&#148; sections
within the Final Offering Memorandum, at the date of such Final Offering
Memorandum or at the date hereof, contained or contains an untrue statement of
a material fact or omitted or omits to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; provided that we do
not assume any responsibility, explicitly or implicitly, for the accuracy,
completeness or fairness of the statements contained in the &#147;Risk Factors&#148; and &#147;Regulatory
Environment&#148; sections within Preliminary Offering Memorandum, the Pricing
Supplement or the Final Offering Memorandum and we express no view with respect
to any information of a financial or accounting nature included in, or omitted
from, the &#147;Risk Factors&#148; and &#147;Regulatory Environment&#148; sections within
Preliminary Offering Memorandum, the Pricing Supplement or the Final Offering
Memorandum.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter is rendered solely to you in
connection with the issuance and delivery of the Notes.&#160; This letter may not be relied upon by you for
any other purpose or delivered to or relied upon by any other person without
our express prior written consent (including, without limitation, (a) any
person that acquires the Notes from the Initial Purchasers or (b) any purchaser
of the Notes procured by the Initial Purchasers); except that you may furnish a
copy of this letter for information (but not reliance) (i) to your independent
auditors and your attorneys, (ii) pursuant to order or legal process of any
court or governmental agency and (iii) in connection with any legal action to
which you are a party arising out of the issuance and delivery of the Notes.</font></p>

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<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This letter is rendered to you as of the
date hereof and is not to be deemed to have been reissued by any subsequent
delivery as permitted above, and we assume no obligation to advise you or any
other person hereafter with regard to any change after the date hereof in the
circumstances or the law that may bear on the matters set forth herein even
though the change may affect the legal analysis or a legal conclusion or other
matters in this letter.</font></p>

<p style="margin:0pt 0pt 12.0pt 252.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>

<p style="margin:0pt 0pt 12.0pt 252.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Willkie Farr &amp;
Gallagher LLP</font></p>

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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;text-indent:36.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
B</font></u></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">FORM OF FCC OPINION OF
WILLKIE FARR &amp; GALAGHER LLP</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Except as set forth in the
FiberTower Letter, the Company or a Subsidiary of the Company (each such
Subsidiary, a &#147;Company Subsidiary&#148;) holds the FCC Licenses identified as being
held by the Company or such Company Subsidiary in Exhibit 1 enclosed with the
FiberTower Letter (&#147;Exhibit 1&#148;).&#160; The FCC
Licenses are in full force and effect.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The execution and delivery by the
Company and each Company Subsidiary of the Transaction Documents to which it is
a party do not violate any of the terms or provisions of, or constitute a
default under, the Communications Act.&#160;
No consent, approval, authorization, order, or waiver from, or filing
with, the FCC is required under the Communications Act for the execution and
delivery by the Company and each Company Subsidiary of each Transaction
Document to which it is a party, except that (i) the exercise of any rights or
remedies under the Transaction Documents which involve or result in a change of
control, assignment, or transfer of title, or disposition of FiberTower or its
affiliates or property may require additional prior notice to, consent of,
order of, or filing with the FCC; and (ii) any substantive amendment to the
Transaction Documents may require additional prior notice to, consent of, order
of, or filing with the FCC.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To our knowledge, (i) there is no
outstanding decree, order, or other ruling that has been issued by the FCC
specifically directed against the Company, any Company Subsidiary, or the FCC
Licenses, and (ii) there is no complaint, notice of violation, notice of
apparent liability, or other administrative proceeding pending by or before, or
overtly threatened by, the FCC against the Company, any Company Subsidiary, or
the FCC Licenses that proposes the cancellation, termination, or revocation of
the FCC Licenses, in each case other than proceedings of general applicability
to the holders of FCC authorizations similar to the FCC Licenses.&#160; To our knowledge, except as set forth in the
FiberTower Letter, there are no license renewal proceedings (other than
applications for renewal filed in the ordinary course) pending for the FCC
Licenses.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; To our knowledge, except as set
forth in the FiberTower Letter, there is no order, judgment, decree, notice of
apparent liability, order of forfeiture, investigation, complaint, or other
proceeding pending before the FCC against the FCC Licenses that would
reasonably be expected to result in the termination, revocation, suspension, or
denial of renewal of the FCC Licenses, except for rule making and other similar
proceedings generally applicable to holders of FCC authorizations similar to
the FCC Licenses.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The statements in the Offering
Memorandum under the captions &#147;Offering Memorandum Summary,&#148; &#147;Risk Factors,&#148; &#147;Business,&#148;
and &#147;Regulatory Environment,&#148; insofar as they constitute summaries of the
Communications Laws, fairly summarize the matters therein described and are
accurate in all material respects.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Communications Act does not
prohibit the Company from making cash payments in respect of the Notes or, when
executed and delivered in accordance with the terms and conditions of the
Registration Rights Agreement and the Indenture, the Exchange Securities
(assuming due authentication and delivery of the Exchange Securities by the
Trustee in accordance with the Indenture), in accordance with their respective
terms.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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