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Document Preview Assignment and Use Agreement [Amended and Restated] |
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Title: |
Assignment and Use Agreement [Amended and Restated] |
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Date: |
2003 |
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$39 |
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ID: |
#1348592 |
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Exhibit 10.7
AMENDED AND RESTATED ASSIGNMENT AND USE AGREEMENT
THIS AMENDED AND RESTATED ASSIGNMENT AND USE AGREEMENT (this
"Agreement"), dated as of January 28, 2003, is between XM Radio Inc., a Delaware
corporation, ("Licensee"), and XM Satellite Radio Inc., a Delaware corporation
("Operating Company").
WHEREAS, Operating Company was issued authorizations by the Federal
Communications Commission (the "FCC") necessary for the legal transmission of
satellite digital radio ("SDARS") signals (the "Licenses") as set forth on Annex
A;
WHEREAS, the FCC approved the assignment of the Licenses from
Operating Company to Licensee on September 15, 1999;
WHEREAS, Operating Company and Licensee previously entered into an
Assignment and Use Agreement, dated as of November 12, 1999 (the "Original
Agreement"), whereby Licensee granted to Operating Company the right to operate
an SDARS system (the "System") subject to the terms of the Original Agreement
and in consideration thereof Operating Company assigned the Licenses to
Licensee;
WHEREAS, Operating Company and Licensee desire that the Original
Agreement continue as modified to, among other things, limit Operating Company's
use of the Licenses to the term specified herein and to add certain protections
for the benefit of Licensee, and for the Operating Company to grant to Licensee
as additional consideration the rights specified in paragraph 4 below.
NOW, THEREFORE, IN CONSIDERATION of the mutual promises and covenants
contained in the Original Agreement and herein and other good and valuable
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