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EXHIBIT 10.1
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REGISTRATION RIGHTS AGREEMENT
This REGISTRATION RIGHTS AGREEMENT (this "Agreement") is made
and
entered into as of May 15, 2007, by and among SunCom Wireless
Holdings, Inc., a
Delaware corporation (the "Company"), and the purchasers
signatory hereto (each
a "Purchaser" and collectively, the "Purchasers").
This Agreement is made pursuant to that certain Exchange
Agreement,
dated as of January 31, 2007, among the Company, SunCom
Wireless, Inc. (f/k/a
Triton PCS, Inc.) ("Wireless"), SunCom Wireless Investment
Company LLC, a
Delaware limited liability company ("SunCom Investment"), and
the Purchasers (as
amended, the "Exchange Agreement"), pursuant to which the
Company is delivering
52,028,376 shares of its Class A common stock, par value $0.01
per share
("Common Stock"), to SunCom Investment, which will in turn be
exchanged by
SunCom Investment for an aggregate of $341,514,000 principal
amount of 9-3/8%
Senior Subordinated Notes due 2011 and $390,106,000 principal
amount of 8-3/4%
Senior Subordinated Notes due 2011 of SunCom Wireless, Inc., our
indirect
wholly-owned subsidiary, which are currently held by the
Purchasers, upon the
terms and subject to the conditions set forth therein.
The Company and the Purchasers hereby agree as follows:
1. Definitions. Capitalized terms used and not otherwise defined
herein
that are defined in the Exchange Agreement shall have the
meanings given such
terms in the Exchange Agreement. As used in this Agreement, the
following terms
shall have the respective meanings set forth in this Section
1:
"Advice" shall have the meaning set forth in Section 5(a).
"Agreement" shall have the meaning set forth in the
Preamble.
"Business Day" shall mean any day except Saturday, Sunday or
any
other day on which commercial banks in the Commonwealth of
Pennsylvania and/or
the State of New York are authorized by law or other
governmental action to
close.
"Commission" means the Securities and Exchange Commission.
"Common Stock" shall have the meaning set forth in the
Preamble.
"Company" shall have the meaning set forth in the Preamble.
"Disclosure Package" means, with respect to any offering of
securities, (i) the preliminary prospectus, (ii) each Free
Writing Prospectus
and (iii) all other information, in each case, that is deemed
under Rule 159
promulgated under the Securities Act to have been conveyed to
purchasers of
securities at the time of sale of such securities (including a
contract of
sale).
"Effective Date" means the date that the Registration
Statement
filed pursuant to Section 2(a) or 2(b) is first declared
effective by the
Commission.
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"Effectiveness Date" means (a) with respect to the initial
Registration Statement required to be filed pursuant to Section
2(a), the
earlier of: (a)(i) the 120th day following the Closing Date and
(ii) the fifth
Trading Day following the date on which the Company is notified
by the
Commission that the initial Registration Statement will not be
reviewed or is no
longer subject to further review and comments, and (b) with
respect to any
additional Registration Statements that may be required pursuant
to Section
2(b), the 120th day following the date on which the Company
first knows, or
reasonably should have known, that such additional Registration
Statement is
required under such Section; provided, however, that in the
event the Company
shall have entered into a definitive agreement with respect to a
Sale
Transaction or such Sale Transaction has become "probable"
(within the meaning
Regulation S-X) prior to the effectiveness of an initial
Registration Statement
pursuant to Section 2(a) and before the Effectiveness Date, the
Effectiveness
Date shall be extended by an additional 60 days.
"Effectiveness Period" shall have the meaning set forth in
Section
2(a).
"Exchange Act" means the Securities Exchange Act of 1934, as
amended.
"Exchange Agreement" shall have the meaning set forth in the
Preamble.
"Filing Date" means (a) with respect to the initial
Registration
Statement required to be filed pursuant to Section 2(a), the
20th day following
the Closing Date, and (b) with respect to any additional
Registration Statements
that may be required pursuant to Section 2(b), the 30th day
following the date
on which the Company first knows, or reasonably should have
known, that such
additional Registration Statement is required under such
Section; provided,
however, that in the event the Company shall have entered into a
definitive
agreement with respect to a Sale Transaction or such Sale
Transaction has become
"probable" (within the meaning Regulation S-X) prior to the
filing of an initial
Registration Statement pursuant to Section 2(a) and before the
Filing Date, the
Filing Date shall be extended by an additional 60 days.
"Free Writing Prospectus" means any "free writing prospectus"
as
defined in Rule 405 promulgated under the Securities Act.
"Indemnified Party" shall have the meaning set forth in
Section
5(c).
"Indemnifying Party" shall have the meaning set forth in
Section
5(c).
"Losses" shall have the meaning set forth in Section 5(a).
"Proceeding" means an action, claim, suit, investigation or
proceeding (including, without limitation, an investigation or
partial
proceeding, such as a deposition), whether commenced or
threatened.
"Prospectus" means (i) the prospectus included in a
Registration
Statement (including, without limitation, a prospectus that
includes any
information previously omitted from a prospectus filed as part
of an effective
registration statement in reliance upon Rule 430A promulgated
under the
Securities Act) or (ii) a Free Writing Prospectus, as amended or
supplemented by
any prospectus supplement, with respect to the terms of the
offering of any
portion of the Registrable Securities covered by such
Registration Statement,
and all other amendments and supplements to the Prospectus,
including
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post-effective amendments, and all material incorporated by
reference or deemed
to be incorporated by reference in such Prospectus.
"Purchaser" and "Purchasers" shall have the meaning set forth in
the
Preamble.
"Registrable Securities" means as to each Purchaser: (i) the
Shares
held by such Purchaser and (ii) any securities issued or
issuable upon any stock
split, dividend or other distribution, recapitalization or
similar event with
respect to any of the securities referenced in (i) above.
"Registration Statement" means the initial registration
statement
required to be filed in accordance with Section 2(a) and any
additional
registration statement(s) required to be filed under Section
2(b), including (in
each case) the Prospectus, amendments and supplements to such
registration
statements or Prospectus, including pre- and post-effective
amendments, all
exhibits thereto, and all material incorporated by reference or
deemed to be
incorporated by reference in such registration statements.
"Rule 144" means Rule 144 promulgated by the Commission pursuant
to
the Securities Act, as such Rule may be amended from time to
time, or any
similar rule or regulation hereafter adopted by the Commission
having
substantially the same effect as such Rule.
"Rule 415" means Rule 415 promulgated by the Commission pursuant
to
the Securities Act, as such Rule may be amended from time to
time, or any
similar rule or regulation hereafter adopted by the Commission
having
substantially the same effect as such Rule.
"Rule 424" means Rule 424 promulgated by the Commission pursuant
to
the Securities Act, as such Rule may be amended from time to
time, or any
similar rule or regulation hereafter adopted by the Commission
having
substantially the same effect as such Rule.
"Securities Act" means the Securities Act of 1933, as
amended.
"Selling Holder Questionnaire" shall have the meaning set forth
in
Section 2(c).
"Shares" means the shares of Common Stock beneficially owned by
the
Purchasers, including shares of Common Stock issued or issuable
to the
Purchasers pursuant to the Exchange Agreement.
"SunCom Investment" shall have the meaning set forth in the
Preamble.
"Suspension Period" shall have the meaning set forth in
Section
6(e)(ii).
"Trading Day" means a day on which the principal national
securities
exchange or automated quotation system in the United States on
which the
Company's Common Stock is listed or quoted or admitted to
trading is open for
the transaction of business or, if the Company's Common Stock is
not listed or
quoted or admitted to trading on any national securities
exchange or automated
quotation system in the United States, any Business Day.
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"Trading Market" means whichever of the New York Stock Exchange,
the
American Stock Exchange, The NASDAQ Global Select Market, The
NASDAQ Global
Market or The NASDAQ Capital Market, on which the Common Stock
is listed or
quoted for trading on the date in question.
2. Registration.
(a) On or prior to the Filing Date, the Company shall prepare
and
file with the Commission a Registration Statement covering the
resale of all
Registrable Securities. The Registration Statement shall be on
Form S-3 (except
if the Company is not then eligible to register for resale the
Registrable
Securities on Form S-3, in which case such registration shall be
on another
appropriate form for such purpose). The Company shall use its
commercially
reasonable efforts to cause the Registration Statement to be
declared effective
under the Securities Act no later than the Effectiveness Date,
and shall use its
commercially reasonable efforts to keep the Registration
Statement continuously
effective under the Securities Act until the date which is the
earlier of (i)
three (3) years after the Effective Date, (ii) such time as all
of the
Registrable Securities have been publicly sold by the
Purchasers, or (iii) such
time as all of the Registrable Securities may be sold pursuant
to Rule 144(k)
(the "Effectiveness Period"). The Company will use its
commercially reasonable
efforts, consistent with the terms of this Agreement, to remain
eligible to use
Form S-3 registration or a similar short-form registration.
(b) If for any reason the Commission does not permit all of
the
Registrable Securities to be included in the Registration
Statement filed
pursuant to Section 2(a), or for any other reason any
Registrable Securities are
not included in a Registration Statement filed under this
Agreement, or if the
Registration Statement ceases to be effective before the
expiration of the
Effectiveness Period, then the Company shall prepare and file as
soon as
possible after the date on which the Commission shall indicate
as being the
first date or time that such filing may be made, but in any
event by its Filing
Date, an additional Registration Statement covering the resale
of all
Registrable Securities not already covered by an existing and
effective
Registration Statement for an offering to be made on a
continuous basis pursuant
to Rule 415, on Form S-3 (except if the Company is not then
eligible to register
for resale the Registrable Securities on Form S-3, in which case
such
registration shall be on another appropriate form for such
purpose). The Company
shall use its commercially reasonable efforts to cause each such
Registration
Statement to be declared effective under the Securities Act as
soon as possible
but, in any event, no later than its Effectiveness Date, and
shall use its
commercially reasonable efforts to keep such Registration
Statement continuously
effective under the Securities Act during its entire
Effectiveness Period.
(c) Each Purchaser agrees to furnish to the Company a
completed
Questionnaire in the form attached to this Agreement as Annex A
(a "Selling
Holder Questionnaire"). The Company shall not be required to
include the
Registrable Securities of a Purchaser in a Registration
Statement who fails to
furnish to the Company a fully completed Selling Holder
Questionnaire at least
six Trading Days prior to the Filing Date (subject to the
requirements set forth
in Section 3(a)).
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3. Registration Procedures
In connection with the Company's registration obligations
hereunder,
the Company shall:
(a) Not less than five Trading Days prior to the filing of a
Registration Statement or any related Prospectus or any
amendment or supplement
thereto furnish to the Purchasers and Purchasers' counsels
copies of such
documents as proposed to be filed, which documents will be
subject to the review
of the Purchasers, except for any amendment or supplement or
document (a copy of
which has been previously furnished to the Purchasers) which
counsel to the
Company shall advise the Company is required to be filed sooner
in order to
comply with applicable law, rules and regulations.
(b) (i) Subject to Section 6(e), prepare and file with the
Commission such amendments, including post-effective amendments,
to each
Registration Statement and the Prospectus used in connection
therewith as may be
necessary to keep such Registration Statement continuously
effective as to the
applicable Registrable Securities for the Effectiveness Period
and prepare and
file with the Commission such additional Registration Statements
in order to
register for resale under the Securities Act all of the
Registrable Securities;
(ii) cause the related Prospectus to be amended or supplemented
by any required
Prospectus supplement, and as so supplemented or amended to be
filed pursuant to
Rule 424; (iii) respond reasonably promptly to any comments
received from the
Commission with respect to each Registration Statement or any
amendment thereto
and, as promptly as reasonably possible provide the Purchasers
true and complete
copies of all correspondence from and to the Commission relating
to such
Registration Statement that would not result in the disclosure
to the Purchasers
of material and non-public information concerning the Company;
and (iv) comply
in all material respects with the provisions of the Securities
Act and the
Exchange Act with respect to the Registration Statements and the
disposition of
all Registrable Securities covered by each Registration
Statement. Additionally,
upon the written request of the holders of at least 15% of the
Registrable
Securities held by the Purchasers, the Company shall file such
amendments,
including post-effective amendments, to each Registration
Statement, or file
such Prospecuts supplements as are required to permit an
underwritten offering
of the Registrable Securities. Such underwritten offering shall
be on reasonable
and customary terms to be agreed to by the Purchasers and the
Company; provided,
that the Purchasers shall have the right to select the
underwriters for such
offering, subject to the agreement of the Company, not to be
unreasonably
withheld, delayed or conditioned.
(c) Notify the Purchasers as promptly as reasonably possible
(and,
in the case of (i)(A) below, not less than three Trading Days
prior to such
filing): (i)(A) when a Prospectus or any Prospectus supplement
or post-effective
amendment to a Registration Statement is proposed to be filed;
(B) when the
Commission notifies the Company whether there will be a "review"
of such
Registration Statement and whenever the Commission comments in
writing on such
Registration Statement (the Company shall provide true and
complete copies
thereof and all written responses thereto to the Purchasers that
would not
result in the disclosure to the Purchasers of material and
non-public
information concerning the Company, unless the Purchasers are
willing to enter
into a confidentiality agreement covering such non-public
information); and (C)
with respect to each Registration Statement or any
post-effective amendment,
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when the same has become effective; (ii) of any request by the
Commission or any
other Federal or state governmental authority for amendments or
supplements to a
Registration Statement or Prospectus or for additional
information; (iii) of the
issuance by the Commission of any stop order suspending the
effectiveness of a
Registration Statement covering any or all of the Registrable
Securities or the
initiation of any Proceedings for that purpose; (iv) of the
receipt by the
Company of any notification with respect to the suspension of
the qualification
or exemption from qualification of any of the Registrable
Securities for sale in
any jurisdiction, or the initiation or threatening of any
Proceeding for such
purpose; (v) of the occurrence of any event or passage of time
that makes the
financial statements included in a Registration Statement
ineligible for
inclusion therein or any statement made in such Registration
Statement or
Prospectus or any document incorporated or deemed to be
incorporated therein by
reference untrue in any material respect or that requires any
revisions to such
Registration Statement, Prospectus or other documents so that,
in the case of
such Registration Statement or the Prospectus, as the case may
be, it will not
contain any untrue statement of a material fact or omit to state
any 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; and
(vi) of the existence of any fact or the happening of any event,
during the
Effectiveness Period, that makes any statement of a material
fact made in the
Registration Statement, the Prospectus, any amendment or
supplement thereto,
untrue, or that requires the making of additions to or changes
in the
Registration Statement or the Prospectus in order to make the
statements therein
not misleading.
(d) Use its commercially reasonable efforts to avoid the
issuance
of, or, if issued, obtain the withdrawal of, (i) any order
suspending the
effectiveness of a Registration Statement, or (ii) any
suspension of the
qualification (or exemption from qualification) of any of the
Registrable
Securities for sale in any jurisdiction.
(e) Upon written request, furnish to each of the Purchasers,
without charge, at least one conformed copy of each Registration
Statement and
each amendment thereto and all exhibits promptly after the
filing of such
documents with the Commission.
(f) Promptly deliver to each of the Purchasers, without charge,
as
many copies of each Prospectus or Prospectuses (including each
form of
prospectus) and each amendment or supplement thereto as the
Purchasers may
reasonably request. The Company hereby consents to the use of
such Prospectus
and each amendment or supplement thereto by the Purchasers in
connection with
the offering and sale of the Registrable Securities covered by
such Prospectus
and any amendment or supplement thereto.
(g) Prior to any public offering of Registrable Securities,
use
its commercially reasonable efforts to register or qualify or
cooperate with the
Purchasers in connection with the registration or qualification
(or exemption
from such registration or qualification) of such Registrable
Securities for
offer and sale under the securities or Blue Sky laws of all
jurisdictions within
the United States reasonably requested by a Purchaser proposing
to sell
securities in such jurisdiction, to keep each such registration
or qualification
(or exemption therefrom) effective during the Effectiveness
Period and to do any
and all other acts or things necessary or advisable to enable
the disposition in
such jurisdictions of the Registrable Securities covered by the
Registration
Statements; provided, that the Company shall not be required to
(i) qualify
generally to do business in any jurisdiction where it is not
then so qualified
or subject the Company to any material tax in any such
jurisdiction where it is
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not then so subject or (ii) file a general consent to service of
process in any
such jurisdiction, except in such jurisdictions where the
Company is already
subject to service of process.
(h) Cooperate with the Purchasers to facilitate the timely
preparation and delivery of certificates representing
Registrable Securities to
be delivered to a transferee pursuant to the Registration
Statements, which
certificates shall be free, to the extent permitted by the
Exchange Agreement,
of all restrictive legends, and to enable such Registrable
Securities to be in
such denominations and registered in such names as the
Purchasers may request.
(i) Upon the occurrence of any event contemplated by Section
3(c)(v), as promptly as reasonably possible, prepare a
supplement or amendment,
including a post-effective amendment, to the affected
Registration Statements or
a supplement to the related Prospectus or any document
incorporated or deemed to
be incorporated therein by reference, and file any other
required document so
that, as thereafter delivered, no Registration Statement nor any
Prospectus will
contain an untrue statement of a material fact or omit 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.
(j) If requested by the Purchasers, the Company shall cause
the
appropriate officers of the Company to (i) prepare and make
presentations at any
"road shows" and before analysts and rating agencies, as the
case may be, (ii)
take other reasonable actions to obtain ratings for any
Registrable Securities
and (iii) otherwise use their reasonable efforts to cooperate as
requested by
the underwriters in the offering, marketing or selling of the
Registrable
Securities.
(k) The Company shall cause to be furnished to each Purchaser
and
to each such underwriter, if any, a signed counterpart,
addressed to such
Purchaser or underwriter, of (i) an opinion or opinions of
counsel to the
Company and (ii) a comfort letter or comfort letters from the
Company's
independent public accountants, each in customary form and
covering such matters
of the kind customarily covered by opinions or comfort letters,
as the case may
be, as a majority of such Purchasers or the managing underwriter
therefor
reasonably requests.
4. Registration Expenses. All fees and expenses incident to
the
performance of or compliance with this Agreement by the Company
shall be borne
by the Company whether or not any Registrable Securities are
sold pursuant to a
Registration Statement. The fees and expenses referred to in the
foregoing
sentence (the "Registration Expenses") shall include, without
limitation, (i)
all registration and filing fees (including, without limitation,
fees and
expenses (A) with respect to filings required to be made with
any Trading Market
on which the Common Stock is then listed for trading, and (B) in
compliance with
applicable state securities or Blue Sky laws, including
reasonable fees and
disbursements of counsel in connection with Blue Sky
qualifications of the
securities registered), (ii) fees and disbursements of counsel
for the Company,
(iii) fees and expenses of all other Persons retained by the
Company in
connection with the consummation of the transactions
contemplated by this
Agreement, including and fees and expenses for independent
certified public
accountants retained by the Company (including the expenses
relating to any
comfort letters or costs associated with the delivery by
independent certified
public accountants of any comfort letters requested pursuant to
Section 3(k)),
(iv) expenses in connection with the preparation, printing,
mailing and delivery
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of any registration statements, prospectuses and other documents
in connection
therewith and any amendments or supplements thereto, (v)
security engraving and
printing expenses, (vi) fees and expenses of any special experts
retained by the
Company in connection with such registration, (vii) reasonable
fees and expenses
of one counsel for all of the Purchasers participating in the
offering selected
by the Purchasers, (viii) fees and expenses in connection with
any review by the
NASD of any underwriting arrangements or other terms of the
offering, and all
reasonable fees and expenses of any "qualified independent
underwriter,"
including the fees and expenses of any counsel thereto, (ix)
reasonable fees and
disbursements of underwriters customarily paid by issuers or
sellers of
securities, but excluding any underwriting fees, discounts and
commissions
attributable to the sale of Registrable Securities, (x) costs of
printing and
producing any agreements among underwriters, underwriting
agreements, any "blue
sky" or legal investment memoranda and any selling agreements
and other
documents in connection with the offering, sale or delivery of
the Registrable
Securities, (xi) transfer agents' and registrars' fees and
expenses and the fees
and expenses of any other agent or trustee appointed in
connection with such
offering, (xii) reasonable expenses relating to any analyst or
investor
presentations or any "road shows" undertaken in connection with
the
registration, marketing or selling of the Registrable
Securities, and (xiii)
fees and expenses payable in connection with any ratings of the
Registrable
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