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Title: |
Registration Rights Agreement |
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Entities: |
Bank of Montreal; Bank of Nova Scotia; Nassau Broadcasting Corp; Skadden, Arps, Slate, Meagher & Flom LLP |
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Date: |
2000 |
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Size: |
Preview shows 11KB of 98KB total |
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Price: |
$58 |
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ID: |
#1492450 |
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COMMON STOCK
REGISTRATION RIGHTS AGREEMENT
Dated as of May 4, 2000
By and Among
NASSAU BROADCASTING PARTNERS, L.P.,
and
MERRILL LYNCH CAPITAL CORPORATION,
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC,
THE BANK OF NOVA SCOTIA,
OZ MASTER FUND, LTD.
and
BANK OF MONTREAL
================================================================================
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
<S> <C>
Section 1. Definitions.............................................................................. 1
Section 2. Registration Rights...................................................................... 6
2.1 (a) Demand Registration.......................................................... 6
(b) Effective Registration....................................................... 7
(c) Priority in Demand Registrations Pursuant to Section 2.1..................... 8
(d) Restrictions on Sale by Holders.............................................. 8
(e) Selection of Underwriter..................................................... 8
(f) Expenses..................................................................... 9
2.2 (a) Piggy-Back Registration...................................................... 9
(b) Priority in Piggy-Back Registration.......................................... 10
(c) Restrictions on Sale by Holders.............................................. 11
2.3 Limitations, Conditions and Qualifications to Obligations Under
Registration Covenants............................................................ 11
2.4 [Reserved]........................................................................ 13
2.5 Rule 144 and Rule 144A............................................................ 13
2.6 Underwritten Registrations........................................................ 13
Section 3. [Reserved]............................................................................... 13
Section 4. Registration Procedures.................................................................. 14
Section 5. Indemnification and Contribution......................................................... 20
Section 6. Miscellaneous............................................................................ 23
(a) Remedies.......................................................................... 23
(b) No Inconsistent Agreements........................................................ 23
(c) No Piggy-Back on Demand Registrations............................................. 23
(d) Amendments and Waivers............................................................ 23
(e) Notices........................................................................... 23
(f) Successors and Assigns............................................................ 24
(g) Counterparts...................................................................... 24
(h) Governing Law..................................................................... 24
(i) Severability...................................................................... 25
(j) Headings.......................................................................... 25
(k) Entire Agreement.................................................................. 25
(l) Securities Held by the Company or its Affiliates.................................. 25
(m) Third Party Beneficiary........................................................... 25
</TABLE>
<PAGE>
COMMON STOCK REGISTRATION RIGHTS AGREEMENT
This COMMON STOCK REGISTRATION RIGHTS AGREEMENT (the "Agreement") is
---------
made and entered into as of May 4, 2000, between Nassau Broadcasting
Partners, L.P., (the "Company") a Delaware limited partnership organized under
-------
the Delaware Revised Uniform Limited Partnership Act, MERRILL LYNCH CAPITAL
CORPORATION ("Merrill Lynch"), CAISSE DE DEPOT ET PLACEMENT DU QUEBEC, THE BANK
-------------
OF NOVA SCOTIA, OZ MASTER FUND, LTD. AND BANK OF MONTREAL (together with Merrill
Lynch, the "Purchasers").
----------
This Agreement is made pursuant to the Units Purchase Agreement dated
as of May 4, 2000, among the Company, Nassau Finance Corp. (collectively with
the Company, the "Issuers") and the Purchasers (the "Purchase Agreement"), with
------- ------------------
respect to the issuance and sale by the Company and the purchase by the
Purchasers, severally, for gross proceeds of $60,000,488.85 of 117,359 units
(the "Units") consisting of $117,359,000 aggregate principal amount at maturity
-----
of the Issuers' 13% (resetting to 14%) Senior Discount Notes due 2010 (the
"Notes") and 19,303.86 units of partnership interest in the Company representing
-----
2.0% of the aggregate equity interests in the Company on a fully diluted basis
as of the date hereof plus such additional number of units of partnership
interest or shares of capital stock of the Company representing up to an
additional 3.5% of the aggregate equity interests of the Company on a fully
diluted basis as may be issuable in accordance with the provisions of Section
2.01(a) of the Purchase Agreement. The execution of this Agreement is a
condition to the obligations of the Purchasers under the Purchase Agreement.
In consideration of the foregoing, the parties hereto agree as
follows:
Section 1. Definitions. As used in this Agreement, the following
-----------
defined terms shall have the following meanings:
"Advice" has the meaning ascribed to such term in Section 4 hereof.
------
"Affiliate" means, with respect to any specified Person, (i) any other
---------
Person directly or indirectly controlling or controlled by or under direct
or indirect common control with such specified Person or (ii) any other
Person that owns, directly or indirectly, 10% or more of such specified
Person's Voting Capital Stock (as defined in the Purchase Agreement) or any
executive officer or director of any such specified Person or other Person
or, with respect to any natural Person, any Person having a relationship
with such Person by blood, marriage or adoption not more remote than first
cousin. For purposes of this definition, "control" (including, with
-------
correlative meanings, the terms "controlling," "controlled by" and "under
----------- ------------- -----
common control with") of any specified Person means the possession,
-------------------
directly or indirectly, of the power to direct or cause the direction of
the management and policies of such Person, directly or indirectly, whether
through the ownership of voting securities, by agreement or otherwise.
<PAGE>
"Agreement" shall have the meaning ascribed to such term in the
---------
preamble hereto.
"Aurora Acquisition" means the acquisition of all of the outstanding
------------------
equity interests of Aurora Communications LLC.
"Aurora Investors" has the meaning set forth in the Purchase
----------------
Agreement.
"Aurora Registration Rights Agreement" means the Registration Rights
------------------------------------
Agreement contemplated to be entered into by the Company and the Aurora
Investors at the consummation of the Aurora Acquisition, substantially in
the form of Exhibit C to the Purchase and Exchange Agreement.
"Business Day" shall mean a day that is not a Legal Holiday.
------------
"Capital Stock" shall mean, with respect to any Person, any and all
-------------
shares, interests, partnership interests, participations, rights in or
other equivalents (however designated and whether voting or non-voting) of
such person's capital stock, and any rights (other than debt securities
convertible into capital stock), warrants or options exchangeable for or
convertible into such capital stock whether outstanding on the Issue Date
or issued after the Issue Date.
"Company" shall have the meaning ascribed to such term in the preamble
-------
of this Agreement and shall also include the Company's permitted successors
and assigns.
"Common Stock" shall mean the Company's common stock authorized in
------------
connection with the Reorganization and any other class or series of common
equity equivalent shares of the Company hereafter created.
"Demand Registration" shall have the meaning ascribed to such term in
-------------------
Section 2.1(a) hereof.
"DTC" shall have the meaning ascribed to such term in Section 4(i)
---
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