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Registration Rights Agreement

 

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Title:

Registration Rights Agreement

Entities:

J.P. Morgan Securities Inc.; Lamar Advantage LP Co LLC; Lamar Media Corp.; Morgan Stanley & Co. Inc.; Wachovia Securities Inc.; Goldman, Sachs & Co.

Date:

2003

Size:

Preview shows 5KB of 81KB total

Price:

$50

ID:

#2568665

 

 

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                          REGISTRATION RIGHTS AGREEMENT


This REGISTRATION RIGHTS AGREEMENT dated June 12, 2003 (this
"Agreement") is entered into by and among Lamar Media Corp., a Delaware
corporation (the "Company"), the guarantors listed in Schedule 1 hereto (the
"Guarantors"), and J.P. Morgan Securities Inc., Wachovia Securities, Inc.,
Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated (the "Initial
Purchasers").

The Company, the Guarantors and the Initial Purchasers are parties to
the Purchase Agreement dated as of May 29, 2003 (the "Purchase Agreement"),
which provides for the sale by the Company to the Initial Purchasers of
$125,000,000 aggregate principal amount of the Company's 7-1/4% Senior
Subordinated Notes due 2013 (the "Securities"), which will be guaranteed on an
unsecured senior subordinated basis by each of the Guarantors. As an inducement
to the Initial Purchasers to enter into the Purchase Agreement, the Company and
the Guarantors have agreed to provide to the Initial Purchasers and their direct
and indirect transferees the registration rights set forth in this Agreement.
The execution and delivery of this Agreement is a condition to the closing under
the Purchase Agreement.

In consideration of the foregoing, the parties hereto agree as follows:

1. Definitions. As used in this Agreement, the following terms shall
have the following meanings:

"Business Day" shall mean any day that is not a Saturday, Sunday or
other day on which commercial banks in New York City are authorized or required
by law to remain closed.

"Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

"Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

"Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time.

"Exchange Dates" shall have the meaning set forth in Section 2(a)(ii)
hereof.
{PAGE}
"Exchange Offer" shall mean the exchange offer by the Company and the
Guarantors of Exchange Securities for Registrable Securities pursuant to Section
2(a) hereof.

"Exchange Offer Registration" shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

"Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in each
case including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

"Exchange Securities" shall mean senior subordinated notes issued by
the Company and guaranteed by the Guarantors under the Indenture containing
terms identical to the Securities (except that the Exchange Securities will not
be subject to restrictions on transfer or to any increase in annual interest
rate for failure to comply with this Agreement) and to be offered to Holders of
Securities in exchange for Securities pursuant to the Exchange Offer.

"Guarantors" shall have the meaning set forth in the preamble and shall
also include any Guarantor's successors.

"Holders" shall mean the Initial Purchasers, for so long as they own
any Registrable Securities, and each of their successors, assigns and direct and
indirect transferees who become owners of Registrable Securities under the
Indenture; provided, however, that for purposes of Sections 4 and 5 of this
Agreement, the term "Holders" shall include Participating Broker-Dealers.

"Indemnified Person" shall have the meaning set forth in Section 5(c)
hereof.

"Indemnifying Person" shall have the meaning set forth in Section 5(c)
hereof.

"Indenture" shall mean the Indenture relating to the Securities dated
as of December 23, 2002 by and among the Company, the Guarantors and
Wachovia Bank of Delaware, National Association, as trustee, and as the same may
be amended from time to time in accordance with the terms thereof.

"Initial Purchasers" shall have the meaning set forth in the preamble.

"Inspector" shall have the meaning set forth in Section 3(m) hereof.

2
{PAGE}
"Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of outstanding Registrable Securities; provided,
however, that whenever the consent or approval of Holders of a specified
percentage of Registrable Securities is required hereunder, Registrable

 

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