-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LdJPJ1j2CUxxRCt6rhzk/6mCwn8yJK6vmLpaZFAWhXt5PVStNVTpXQLQNch9dn9v H39gscP5S5wAo61yQ8ZB5g== 0000912057-02-040666.txt : 20021101 0000912057-02-040666.hdr.sgml : 20021101 20021101165438 ACCESSION NUMBER: 0000912057-02-040666 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20021031 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20021101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UNITED STATES CELLULAR CORP CENTRAL INDEX KEY: 0000821130 STANDARD INDUSTRIAL CLASSIFICATION: RADIO TELEPHONE COMMUNICATIONS [4812] IRS NUMBER: 621147325 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09712 FILM NUMBER: 02807047 BUSINESS ADDRESS: STREET 1: 8410 W BRYN MAWR AVE STREET 2: STE 700 CITY: CHICAGO STATE: IL ZIP: 60631 BUSINESS PHONE: 7733998900 MAIL ADDRESS: STREET 1: 301 S. WESTFIELD ROAD STREET 2: P.O. BOX 5158 CITY: MADISON STATE: WI ZIP: 53705-0158 8-K 1 a2092410z8-k.htm 8-K
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 31, 2002


UNITED STATES CELLULAR CORPORATION
(Exact name of registrant as specified in its charter)


Delaware

 

1-9712

 

62-1147325
(State or other
jurisdiction of
incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

8410 West Bryn Mawr, Suite 700, Chicago, Illinois

 

60631
(Address of principal executive offices)   (Zip Code)

Registrant's telephone number, including area code: (773) 399-8900

Not Applicable
(Former name or former address, if changed since last report)





Item 5. Other Events.

        On October 31, 2002, United States Cellular Corporation priced a public offering of $115 million of 8.75% Senior Notes due 2032. This Current Report on Form 8-K is being filed for the purpose of filing the news release issued by United States Cellular Corporation on November 1, 2002 relating to such announcement as an exhibit. Also included as exhibits are certain agreements related to the Note offering. The following additional information is being provided herein with respect to such offering.


Item 7. Exhibits.

(c)
Exhibits:

        The exhibits accompanying this report are listed in the accompanying Exhibit Index.

2



SIGNATURES

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.


United States Cellular Corporation
(Registrant)

 

 

 

Date: October 31, 2002

 

By:

/s/  
KENNETH R. MEYERS        
Kenneth R. Meyers
Executive Vice President—Finance
and Treasurer (Chief Financial Officer)

3



EXHIBIT INDEX

The following exhibits are filed herewith as noted below.

Exhibit
No.

  Description

1.1   Underwriting Agreement dated as of October 31, 2002 among the Registrant and the Underwriter's named therein, relating to the Registrant's 8.75% Senior Notes due 2032.

4.1

 

Second Supplemental Indenture dated as of October 31, 2002 between Registrant and BNY Midwest Trust Company, including form of the Registrant's 8.75% Senior Notes due 2032.

99.1

 

Press Release.

99.2

 

Form of Note Repurchase Agreement dated as of October 28, 2002 among the Registrant, PrimeCo Wireless Communications LLC and the direct or indirect transferees named therein, relating to the Registrants 9% Series A Notes due 2032.

4




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EXHIBIT INDEX
EX-1.1 3 a2092410zex-1_1.txt EX-1.1 Exhibit 1.1 UNITED STATES CELLULAR CORPORATION (a Delaware corporation) Debt Securities UNDERWRITING AGREEMENT October 31, 2002 Merrill, Lynch, Pierce, Fenner & Smith Incorporated Morgan Stanley & Co. Incorporated UBS Warburg LLC As representatives of the several underwriters referred to below c/o Morgan Stanley & Co. Incorporated 1585 Broadway New York, NY 10036 Ladies and Gentlemen: United States Cellular Corporation, a Delaware corporation (the "Company"), proposes to issue and sell up to $132,250,000 aggregate initial public offering price of its debt securities, (the "Securities") from time to time, in or pursuant to one or more offerings on terms to be determined at the time of sale. The Securities will be issued in one or more series under an indenture, dated as of June 1, 2002, between the Company and BNY Midwest Trust Company, as trustee (the "Trustee"), as supplemented by the First Supplemental Indenture between the Company and the Trustee (as so supplemented, the "Indenture", which term shall include any indenture entered into by the Company and the Trustee providing for the issuance of any subordinated indebtedness). Each series of Securities may vary, as applicable, as to title, aggregate principal amount, rank, interest rate or formula and timing of payments thereof, stated maturity date, redemption and/or repayment provisions, sinking fund requirements and any other variable terms established by or pursuant to the Indenture. Whenever the Company determines to make an offering of Securities, the Company will enter into an agreement (each, a "Terms Agreement") providing for the sale of such Securities to, and the purchase and offering thereof by, the underwriters named therein (the "Underwriters," which term shall include one underwriter acting as sole Underwriter or as a member of an underwriting syndicate, as well as any Underwriter substituted pursuant to Section 10 hereof). The Terms Agreement relating to the offering of Securities shall specify the number or aggregate principal amount, as the case may be, of Securities to be initially issued (the "Initial Underwritten Securities"), the name of each Underwriter participating in such offering (subject to substitution as provided in Section 10 hereof) and the name of any Underwriter acting as manager or co-manager in connection with such offering, the number or aggregate principal amount, as the case may be, of Initial Underwritten Securities which each such Underwriter severally agrees to purchase, whether such offering is on a fixed or variable price basis and, if on a fixed price basis, the initial offering price, the price at which the Initial Underwritten Securities are to be purchased by the Underwriters, the form, time, date and place of delivery and payment of the Initial Underwritten Securities and any other material variable terms of the Initial Underwritten Securities, as well as the material variable terms of any related Underlying Securities. In addition, if applicable, such Terms Agreement shall specify whether the Company has agreed to grant to the Underwriters an option to purchase additional Securities to cover over-allotments, if any, and the number or aggregate principal amount, as the case may be, of Securities subject to such option (the "Option Underwritten Securities"). As used herein, the term "Underwritten Securities" shall include the Initial Underwritten Securities and all or any portion of any Option Underwritten Securities. The Terms Agreement, which shall be substantially in the form of Exhibit A hereto, may take the form of an exchange of any standard form of written telecommunication between the Company and an Underwriter, acting for itself and, if applicable, as representative of any other Underwriters. Each offering of Underwritten Securities through an Underwriter as sole Underwriter or through an underwriting syndicate managed by one or more Underwriters (the "Representatives") will be governed by this Underwriting Agreement, as supplemented by the applicable Terms Agreement. To the extent only one Underwriter is named in the Terms Agreement, the term Representatives as used herein shall mean such Underwriter, and the terms Representatives shall mean either the singular or plural as the context requires. The Company filed with the Securities and Exchange Commission (the "Commission") a registration statement on Form S-3 (No. 33-88344) for the registration of the Securities under the Securities Act of 1933, as amended (the "1933 Act"), and the offering thereof from time to time in accordance with Rule 415 of the rules and regulations of the Commission under the 1933 Act (the "1933 Act Regulations"). Such registration statement has been declared effective by the Commission and each Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended (the "1939 Act"), and the Company has filed such post-effective amendments thereto as may be required prior to the execution of the applicable Terms Agreement and each such post-effective amendment has been declared effective by the Commission. Such registration statement (as so amended, if applicable), including the information, if any, deemed to be a part thereof pursuant to Rule 430A(b) of the 1933 Act Regulations (the "Rule 430A Information") or Rule 434(d) of the 1933 Act Regulations (the "Rule 434 Information"), is referred to herein as the "Registration Statement"; and the final prospectus and the final prospectus supplement relating to the offering of the Underwritten Securities, in the form first furnished to the Underwriters by the Company for use in connection with the offering of the Underwritten Securities, are collectively referred to herein as the "Prospectus"; provided, however, that all references to the "Registration Statement" and the "Prospectus" shall also be deemed to include all documents incorporated therein by reference pursuant to the Securities Exchange Act of 1934, as amended (the "1934 Act"), prior to the execution of the applicable Terms Agreement; provided, further, that if the Company files a registration statement with the Commission pursuant to Rule 462(b) of the 1933 Act Regulations (the "Rule 462(b) Registration Statement"), then, after such filing, all references to "Registration Statement" shall also be deemed to include the Rule 462(b) Registration Statement; and provided, further, that if the Company elects to rely upon Rule 434 of the 1933 Act Regulations, then all references to "Prospectus" shall also be deemed to include the final or preliminary prospectus and the applicable term sheet or abbreviated term sheet (the "Term Sheet"), as the case may be, in the 2 form first furnished to the Underwriters by the Company in reliance upon Rule 434 of the 1933 Act Regulations, and all references in this Underwriting Agreement to the date of the Prospectus shall mean the date of the Term Sheet. A "preliminary prospectus" shall be deemed to refer to any prospectus used before the Registration Statement became effective and any prospectus that omitted, as applicable, the Rule 430A Information, the Rule 434 Information or other information to be included upon pricing in a form of prospectus filed with the Commission pursuant to Rule 424(b) of the 1933 Act Regulations and was used after such effectiveness and prior to the execution and delivery of the applicable Terms Agreement. For purposes of this Underwriting Agreement, all references to the Registration Statement, Prospectus, Term Sheet or preliminary prospectus or to any amendment or supplement to any of the foregoing shall be deemed to include any copy filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval system ("EDGAR"). All references in this Underwriting Agreement to financial statements and schedules and other information which is "contained," "included" or "stated" (or other references of like import) in the Registration Statement, Prospectus or preliminary prospectus shall be deemed to mean and include all such financial statements and schedules and other information which is incorporated by reference in the Registration Statement, Prospectus or preliminary prospectus, as the case may be, prior to the execution of the applicable Terms Agreement; and all references in this Underwriting Agreement to amendments or supplements to the Registration Statement, Prospectus or preliminary prospectus shall be deemed to mean and include the filing of any document under the 1934 Act which is incorporated by reference in the Registration Statement, Prospectus or preliminary prospectus, as the case may be, after the execution of the applicable Terms Agreement. SECTION 1. REPRESENTATIONS AND WARRANTIES. (A) REPRESENTATIONS AND WARRANTIES BY THE COMPANY. The Company represents and warrants to each Underwriter named in the applicable Terms Agreement, as of the date thereof, as of the Closing Time (as defined below) and, if applicable, as of each Date of Delivery (as defined below) (in each case, a "Representation Date"), as follows: (1) COMPLIANCE WITH REGISTRATION REQUIREMENTS. The Company meets the requirements for use of Form S-3 under the 1933 Act. The Registration Statement (including any Rule 462(b) Registration Statement) has become effective under the 1933 Act and no stop order suspending the effectiveness of the Registration Statement (or such Rule 462(b) Registration Statement) has been issued under the 1933 Act and no proceedings for that purpose have been instituted or are pending or, to the knowledge of the Company, are contemplated by the Commission, and any request on the part of the Commission for additional information has been complied with. In addition, each Indenture has been duly qualified under the 1939 Act. At the respective times the Registration Statement (including any Rule 462(b) Registration Statement) and any post-effective amendments thereto (including the filing of the Company's most recent Annual Report on Form 10-K with the Commission (the "Annual Report on Form 10-K")) became effective and at each Representation Date, the Registration Statement (including any Rule 462(b) Registration Statement) and any 3 amendments thereto complied and will comply in all material respects with the requirements of the 1933 Act and the 1933 Act Regulations and the 1939 Act and the rules and regulations of the Commission under the 1939 Act (the "1939 Act Regulations") and did not and will not 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 not misleading. At the date of the Prospectus, at the Closing Time and at each Date of Delivery, if any, neither the Prospectus nor any amendments and supplements thereto included or will include an untrue statement of a material fact or omitted or will 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. If the Company elects to rely upon Rule 434 of the 1933 Act Regulations, the Company will comply with the requirements of Rule 434. Notwithstanding the foregoing, the representations and warranties in this subsection shall not apply to statements in or omissions from the Registration Statement or the Prospectus made in reliance upon and in conformity with information furnished to the Company in writing by any Underwriter through the Representatives expressly for use in the Registration Statement or the Prospectus. Each preliminary prospectus and prospectus filed as part of the Registration Statement as originally filed or as part of any amendment thereto, or filed pursuant to Rule 424 under the 1933 Act, complied when so filed in all material respects with the 1933 Act Regulations and each preliminary prospectus and the Prospectus delivered to the Underwriters for use in connection with the offering of Underwritten Securities will, at the time of such delivery, be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. (2) INCORPORATED DOCUMENTS. The documents incorporated or deemed to be incorporated by reference in the Registration Statement and the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the 1934 Act and the rules and regulations of the Commission thereunder (the "1934 Act Regulations") and, when read together with the other information in the Prospectus, at the date of the Prospectus, at the Closing Time and at each Date of Delivery, if any, did not and will not include an untrue statement of a 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. (3) INDEPENDENT ACCOUNTANTS. The accountants who certified the consolidated financial statements and any supporting schedules thereto included in or incorporated by reference into the Registration Statement and the Prospectus are independent public accountants with respect to the Company and its consolidated subsidiaries as required by the 1933 Act and the 1933 Act Regulations. (4) FINANCIAL STATEMENTS. The consolidated financial statements of the Company included in the Registration Statement and the Prospectus, together with the related schedules and notes, as well as those financial statements, schedules and notes of any other entity included therein, present fairly the financial position and results of operations 4 of the Company and its subsidiaries on a consolidated basis, or such other entities, as the case may be, at the respective dates or for the respective periods to which they apply, and the statement of operations, stockholders' equity and cash flows of the Company and its consolidated subsidiaries on a consolidated basis, or such other entities, as the case may be, for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles ("GAAP") applied on a consistent basis throughout the periods involved; and the supporting schedules included in the Registration Statement and the Prospectus present fairly in accordance with GAAP the information required to be stated therein. The selected financial data and the summary financial information included in the Prospectus present fairly the information shown therein and have been compiled on a basis consistent with that of the audited financial statements included in the Registration Statement and the Prospectus. In addition, any pro forma financial statements of the Company and its subsidiaries and the related notes thereto included in the Registration Statement and the Prospectus present fairly the information shown therein, have been prepared in accordance with the Commission's rules and guidelines with respect to pro forma financial statements and have been properly compiled on the bases described therein, and the assumptions used in the preparation thereof are reasonable and the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. (5) NO MATERIAL ADVERSE CHANGE IN BUSINESS. Since the respective dates as of which information is given in the Registration Statement and the Prospectus, except as otherwise stated therein, (A) there has been no material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its consolidated subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, (B) there have been no transactions entered into by the Company or any of its consolidated subsidiaries, other than those arising in the ordinary course of business, which are material with respect to the Company and its consolidated subsidiaries considered as one enterprise and (C) there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock. (6) GOOD STANDING OF THE COMPANY. The Company has been duly organized and is validly existing as a corporation in good standing under the laws of the State of Delaware and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under, or as contemplated under, this Underwriting Agreement and the applicable Terms Agreement. The Company is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which it owns or leases substantial properties or in which the conduct of its business requires such qualification, except where the failure to be so qualified or in good standing would not have a material adverse effect on the Company and its consolidated subsidiaries considered as one enterprise. (7) GOOD STANDING OF SUBSIDIARIES. Each consolidated subsidiary of the Company (each, a "Subsidiary" and, collectively, the "Subsidiaries"), has been duly incorporated and is validly existing as a corporation in good standing under the laws of 5 the jurisdiction of its incorporation, has the corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which it owns or leases substantial properties or in which the conduct of its business requires such qualification, except where the failure to be so qualified or in good standing would not have a material adverse affect on the Company and its consolidated subsidiaries considered as one enterprise; except as otherwise disclosed in the Registration Statement, all of the issued and outstanding capital stock of each Subsidiary has been duly authorized and validly issued and is fully paid and non-assessable and all shares of capital stock of such Subsidiaries owned by the Company, directly or through one or more Subsidiaries, are owned free and clear of any security interest, mortgage, pledge, lien, encumbrance, claim or equity, except as set forth or incorporated by reference in the Registration Statement and except for such security interest, mortgage, pledge, lien, encumbrance, claim or equity the enforcement of which, individually or in the aggregate, would not have a material adverse affect on the Company and its consolidated subsidiaries considered as one enterprise. The only subsidiaries that are "significant subsidiaries" of the Company (as such term is defined in Rule 102 of Regulation S-X promulgated under the 1933 Act) are United States Cellular Operating Company and Unites States Cellular Investment Company. (8) CAPITALIZATION. The authorized, issued and outstanding capital stock of the Company is as set forth in or incorporated by reference into the Registration Statement (except for subsequent issuances, if any, pursuant to reservations or agreements referred to in the Prospectus); all of the issued and outstanding shares of capital stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable; the capital stock of the Company conforms to the description thereof included in or incorporated by reference into the Registration Statement and, except as set forth in the Prospectus, is not subject to preemptive or other similar rights. (9) AUTHORIZATION OF THIS UNDERWRITING AGREEMENT AND TERMS AGREEMENT. This Underwriting Agreement has been, and the applicable Terms Agreement as of the date thereof will have been, duly authorized, executed and delivered by the Company. (10) AUTHORIZATION OF SECURITIES. The Underwritten Securities have been, or as of the date of such Terms Agreement will have been, duly authorized by the Company for issuance and sale pursuant to this Underwriting Agreement and such Terms Agreement. Such Underwritten Securities, when issued and authenticated in the manner provided for in the Indenture and delivered against payment of the consideration therefor specified in such Terms Agreement, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors rights generally or by general principles of equity (regardless of whether enforcement is considered in a proceeding at law or in equity) (the "Bankruptcy Exceptions"); such Underwritten Securities will be in the form contemplated by, and each registered holder thereof is entitled to the benefits of, the Indenture. 6 (11) AUTHORIZATION OF THE INDENTURE. The Indenture has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms except to the extent that enforcement thereof may be limited by the Bankruptcy Exceptions; and the Indenture will conform in all material respects to all statements relating thereto contained in the Prospectus. (12) DESCRIPTIONS OF THE UNDERWRITTEN SECURITIES. The Underwritten Securities being sold pursuant to the applicable Terms Agreement and the Indenture, as of each Representation Date, will conform in all material respects to all statements relating thereto contained in the Prospectus and will be in substantially the form filed or incorporated by reference, as the case may be, as an exhibit to the Registration Statement. (13) ABSENCE OF DEFAULTS AND CONFLICTS. Neither the Company nor any of its Subsidiaries is in violation of its charter or by-laws or other documents of organization, and none of the Company or any of its Subsidiaries is in default in the performance or observance of any material obligation, agreement, covenant or condition contained in any contract, indenture, mortgage, loan agreement, note, lease or other instrument to which the Company or any of its Subsidiaries is a party or by which it or any of them may be bound, or to which any of the property or assets of the Company or any of its Subsidiaries is subject; the execution, delivery and performance of this Underwriting Agreement, the applicable Terms Agreement and the Indenture and the consummation of the transactions contemplated herein and in the Registration Statement and the Prospectus (including the use of the proceeds from the sale of the Underwritten Securities as described under the caption "Use of Proceeds") have been duly authorized by all necessary corporate action by the Company and will not conflict with or constitute a breach of, or default or Repayment Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its Subsidiaries pursuant to the terms of, any contract, indenture, mortgage, loan agreement, note, lease or other agreement or other instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of them may be bound, or to which any property or assets of the Company or any of its Subsidiaries is subject; nor will such action result in any violation of the provisions of the charter or by-laws of the Company or any of its Subsidiaries or any applicable law, rule, regulation, judgment, order, or administrative or court decree; nor will such action conflict with or have an adverse effect on any of the certificates, authorities, licenses or permits of the Company or any of its Subsidiaries that enable them to carry on the business and operations now operated by them and which are material to the business of the Company and its Subsidiaries considered as one enterprise. As used herein, a "Repayment Event" means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder's behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its Subsidiaries. (14) ABSENCE OF LABOR DISPUTE. No labor dispute with the employees of the Company or any of its Subsidiaries exists or, to the knowledge of the Company, is 7 imminent which would materially adversely effect the business operations of the Company and its Subsidiaries considered as one enterprise. (15) ABSENCE OF PROCEEDINGS. There is no action, suit or proceeding before or by any court or governmental agency or body, domestic or foreign, now pending, or, to the knowledge of the Company, threatened, against or affecting the Company or any of its Subsidiaries which is required to be disclosed in or incorporated by reference into the Registration Statement or, except, in the case of (A) and (B) below, as disclosed in the Prospectus, which might (A) result in any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its consolidated subsidiaries considered as one enterprise, (B) materially and adversely affect the properties or assets of the Company and its consolidated subsidiaries considered as one enterprise, or (C) materially and adversely affect the consummation of the transactions contemplated by this Underwriting Agreement, the applicable Terms Agreement or the Indenture; all pending legal or governmental proceedings to which the Company or any of its consolidated subsidiaries is a party or of which any of their respective properties or assets are the subject which are not described in or incorporated by reference into the Registration Statement and the Prospectus, including ordinary routine litigation incidental to the business, are, considered in the aggregate, not material to the Company and its consolidated subsidiaries considered as one enterprise; and there are no contracts or documents of the Company or any of its consolidated subsidiaries which are required to be filed or incorporated by reference as exhibits to the Registration Statement by the 1933 Act or by the 1933 Act Regulations which have not been so filed or incorporated by reference. (16) ACCURACY OF EXHIBITS. There are no contracts or documents which are required to be described in the Registration Statement, the Prospectus or the documents incorporated by reference therein which have not been so described as required. (17) ABSENCE OF FURTHER REQUIREMENTS. No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency, domestic or foreign, is necessary or required for the due authorization, execution and delivery by the Company of this Underwriting Agreement or the applicable Terms Agreement or for the performance by the Company of the transactions contemplated under the Prospectus, this Underwriting Agreement, such Terms Agreement or the Indenture, except such as have been made or obtained under the 1933 Act, the 1933 Act Regulations, the 1934 Act, the 1934 Act Regulations, the 1939 Act and the 1939 Act Regulations or as may be required under state securities laws. (18) POSSESSION OF INTELLECTUAL PROPERTY. The Company and its Subsidiaries own or possess, or can acquire on reasonable terms, the 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 currently employed by them in connection with the business now operated by them, and neither the Company nor any of its Subsidiaries has received any notice of or conflict with asserted rights of others with respect to any of the 8 foregoing which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would result in any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its Subsidiaries considered as one enterprise. (19) POSSESSION OF LICENSES AND PERMITS. The Company and its Subsidiaries possess such certificates, authorities, licenses or permits issued by the appropriate local, state, federal or foreign regulatory agencies or bodies necessary to conduct the business now operated by them, except as disclosed in the Registration Statement or the documents incorporated by reference therein; none of the Company or any of its Subsidiaries has received any notice of proceedings relating to the revocation or modification of any such certificate, authority, license or permit which, singly or in the aggregate, if the subject of any unfavorable decision, ruling or finding, would materially and adversely affect the condition, financial or otherwise, or the earnings, business affairs or business prospects of the Company and its consolidated subsidiaries considered as one enterprise. (20) TITLE TO PROPERTY. The Company and its Subsidiaries have good and marketable title to all real property owned by the Company and its Subsidiaries and good title to all other properties owned by them that are material to the business of the Company and its consolidated subsidiaries considered as one enterprise, in each case, free and clear of all mortgages, pledges, liens, security interests, claims, restrictions or encumbrances of any kind, except (A) as otherwise stated in the Registration Statement and the Prospectus or (B) those which do not, singly or in the aggregate, materially affect the value of such property and do not interfere with the use made and proposed to be made of such property by the Company or any of its Subsidiaries. All of the leases and subleases material to the business of the Company and its Subsidiaries considered as one enterprise, and under which the Company or any of its Subsidiaries holds properties described in the Prospectus, are in full force and effect, and neither the Company nor any of its Subsidiaries has received any notice of any material claim of any sort that has been asserted by anyone adverse to the rights of the Company or any of its Subsidiaries under any of the leases or subleases mentioned above, or affecting or questioning the rights of the Company or such Subsidiary of the continued possession of the leased or subleased premises under any such lease or sublease. (21) COMMODITY EXCHANGE ACT. The Underwritten Securities, upon issuance, will be excluded or exempted under, or beyond the purview of, the Commodity Exchange Act, as amended (the "Commodity Exchange Act"), and the rules and regulations of the Commodity Futures Trading Commission under the Commodity Exchange Act (the "Commodity Exchange Act Regulations"). (22) INVESTMENT COMPANY ACT. The Company is not, and upon the issuance and sale of the Underwritten Securities as herein contemplated and the application of the net proceeds therefrom as described in the Prospectus will not be, an "investment company" or a company "controlled" by an investment company within the meaning of the Investment Company Act of 1940, as amended (the "1940 Act"). 9 (23) ENVIRONMENTAL LAWS. To the best of the Company's knowledge and except as otherwise stated in the Registration Statement and the Prospectus and except as would not, singly or in the aggregate, materially adversely affect the business operations of the Company and its consolidated subsidiaries considered as one enterprise, (A) neither the Company nor any of its Subsidiaries is in violation of any federal, state, local or foreign statute, law, rule, regulation, ordinance, code, policy or rule of common law or any judicial or administrative interpretation thereof including any judicial or administrative order, consent, decree or judgment, relating to pollution, the environment, wildlife or to the use, storage, disposal, transport or handling of hazardous materials (collectively, "Environmental Laws"), (B) the Company and its Subsidiaries have all permits, authorizations and approvals required under any applicable Environmental Laws and are each in compliance with their requirements, (C) there are no pending or threatened administrative, regulatory or judicial actions, suits, demands, demand letters, claims, liens, notices of noncompliance or violation, investigation or proceedings relating to any Environmental Law against the Company or any of its Subsidiaries and (D) there are no events or circumstances that might reasonably be expected to form the basis of an order for clean-up or remediation, or an action, suit or proceeding by any private party or governmental body or agency, against or affecting the Company or any of its Subsidiaries relating to any Environmental Laws. (24) STABILIZATION. The Company has not taken and will not take, directly or indirectly, any action designed to, or that might be reasonably expected to, cause or result in stabilization or manipulation of the price of the Underwritten Securities. There are no contracts, agreements or understandings between the Company and any person granting such person the right to require the Company to file a registration statement under the 1933 Act with respect to any Underwritten Securities or securities similar to the Underwritten Securities of the Company owned or to be owned by such person or to require the Company to include such securities in the securities registered pursuant to the Registration Statement or in any securities being registered pursuant to any other registration statement filed by the Company under the 1933 Act. (b) OFFICERS' CERTIFICATES. Any certificate signed by any officer of the Company or any of its subsidiaries and delivered to any Underwriter or to counsel for the Underwriters in connection with the offering of the Underwritten Securities shall be deemed a representation and warranty by the Company to each Underwriter as to the matters covered thereby on the date of such certificate and, unless subsequently amended or supplemented, at each Representation Date subsequent thereto. SECTION 2. SALE AND DELIVERY TO UNDERWRITERS; CLOSING. (a) UNDERWRITTEN SECURITIES. The several commitments of the Underwriters to purchase the Underwritten Securities pursuant to the applicable Terms Agreement shall be deemed to have been made on the basis of the representations, warranties and agreements herein contained and shall be subject to the terms and conditions herein set forth. (b) OPTION UNDERWRITTEN SECURITIES. Subject to the terms and conditions herein set forth, the Company may grant, if so provided in the applicable Terms Agreement, an option to the 10 Underwriters, severally and not jointly, to purchase up to the number or aggregate principal amount, as the case may be, of the Option Underwritten Securities set forth therein at a price per Option Underwritten Security equal to the price per Initial Underwritten Security, less an amount equal to any dividends or distributions declared by the Company and paid or payable on the Initial Underwritten Securities but not payable on the Option Underwritten Securities. Such option, if granted, will expire 30 days after the date of such Terms Agreement, and may be exercised in whole or in part from time to time only for the purpose of covering over-allotments which may be made in connection with the offering and distribution of the Initial Underwritten Securities upon notice by the Representatives to the Company setting forth the number or aggregate principal amount, as the case may be, of Option Underwritten Securities as to which the several Underwriters are then exercising the option and the time, date and place of payment and delivery for such Option Underwritten Securities. Any such time and date of payment and delivery (each, a "Date of Delivery") shall be determined by the Representatives, but shall not be later than seven full business days after the exercise of said option, nor in any event prior to the Closing Time, unless otherwise agreed upon by the Representatives and the Company. If the option is exercised as to all or any portion of the Option Underwritten Securities, each of the Underwriters, severally and not jointly, will purchase that proportion of the total number or aggregate principal amount, as the case may be, of Option Underwritten Securities then being purchased which the number or aggregate principal amount, as the case may be, of Initial Underwritten Securities each such Underwriter has severally agreed to purchase as set forth in such Terms Agreement bears to the total number or aggregate principal amount, as the case may be, of Initial Underwritten Securities, subject to such adjustments as the Representatives in their discretion shall make to eliminate any sales or purchases of a fractional number or aggregate principal amount, as the case may be, of Option Underwritten Securities. (c) PAYMENT. Payment of the purchase price for, and delivery of, the Initial Underwritten Securities shall be made at the offices of Sidley Austin Brown & Wood, Bank One Plaza, 10 S. Dearborn Street, Chicago, Illinois 60603, or at such other place as shall be agreed upon by the Representatives and the Company, at 10:00 A.M. (Chicago time) on the third business day after the date of the applicable Terms Agreement (unless postponed in accordance with the provisions of Section 10 hereof), or such other time not later than ten business days after such date as shall be agreed upon by the Representatives and the Company (such time and date of payment and delivery being herein called "Closing Time"). In addition, in the event that the Underwriters have exercised their option, if any, to purchase any or all of the Option Underwritten Securities, payment of the purchase price for, and delivery of such Option Underwritten Securities, shall be made at the above-mentioned offices of Sidley Austin Brown & Wood, or at such other place as shall be agreed upon by the Representatives and the Company, on the relevant Date of Delivery as specified in the notice from the Representatives to the Company. Payment shall be made to the Company by wire transfer of immediately available funds to a bank account designated by the Company, against delivery to the Representatives for the respective accounts of the Underwriters of the Underwritten Securities to be purchased by them. It is understood that each Underwriter has authorized the Representatives for their account, to accept delivery of, receipt for, and make payment of the purchase price for, the Underwritten Securities which it has severally agreed to purchase. The Representatives individually and not as representative of the Underwriters, may (but shall not be obligated to) make payment of the purchase price for the Underwritten Securities to be purchased by any Underwriter whose funds 11 have not been received by the Closing Time or the relevant Date of Delivery, as the case may be, but such payment shall not relieve such Underwriter from its obligations hereunder. (d) DENOMINATIONS; REGISTRATION. Certificates for the Underwritten Securities shall be in such denominations and registered in such names as the Representatives may request in writing at least one full business day prior to the Closing Time or the relevant Date of Delivery, as the case may be. The certificates for the Underwritten Securities will be made available for examination and packaging by the Representatives in The City of New York not later than 10:00 A.M. (Eastern time) on the last business day prior to the Closing Time or the relevant Date of Delivery, as the case may be. SECTION 3. COVENANTS OF THE COMPANY. The Company covenants with each of the Underwriter participating in the offering of Underwritten Securities, as follows: (a) COMPLIANCE WITH SECURITIES REGULATIONS AND COMMISSION REQUESTS. The Company, subject to Section 3(b), will comply with the requirements of Rule 430A of the 1933 Act Regulations and/or Rule 434 of the 1933 Act Regulations, if and as applicable, and will notify the Representatives immediately, and confirm the notice in writing, of (i) the effectiveness of any post-effective amendment to the Registration Statement or the filing of any supplement or amendment to the Prospectus, (ii) the receipt of any comments from the Commission, (iii) any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Prospectus or for additional information, and (iv) the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the Underwritten Securities for offering or sale in any jurisdiction, or of the initiation or threatening of any proceedings for any of such purposes. The Company will promptly effect the filings necessary pursuant to Rule 424 and will take such steps as it deems necessary to ascertain promptly whether the Prospectus transmitted for filing under Rule 424 was received for filing by the Commission and, in the event that it was not, it will promptly file the Prospectus. The Company will make every reasonable effort to prevent the issuance of any stop order and, if any stop order is issued, to obtain the lifting thereof at the earliest possible moment. (b) FILING OF AMENDMENTS. The Company will give the Representatives notice of its intention to file or prepare any amendment to the Registration Statement (including any filing under Rule 462(b) of the 1933 Act Regulations), any Term Sheet or any amendment, supplement or revision to either the prospectus included in the Registration Statement at the time it became effective or to the Prospectus, whether pursuant to the 1933 Act, the 1934 Act or otherwise, will furnish the Representatives with copies of any such documents a reasonable amount of time prior to such proposed filing or use, as the case may be, and will not file or use any such document to which the Representatives or counsel for the Underwriters shall reasonably object. (c) DELIVERY OF REGISTRATION STATEMENTS. The Company has furnished or will deliver to the Representatives and counsel for the Underwriters, without charge, signed copies of the Registration Statement as originally filed and of each amendment thereto (including exhibits filed therewith or incorporated by reference therein and documents incorporated or deemed to be incorporated by reference therein) and as many signed copies of all consents and certificates of experts as the Representatives have requested or shall reasonably request, and will also deliver to 12 the Representatives without charge, a conformed copy of the Registration Statement as originally filed and of each amendment thereto (without exhibits) for each of the Underwriters. The Registration Statement and each amendment thereto furnished to the Underwriters will be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. (d) DELIVERY OF PROSPECTUSES. The Company will deliver to each Underwriter, without charge, as many copies of each preliminary prospectus as such Underwriter may reasonably request, and the Company hereby consents to the use of such copies for purposes permitted by the 1933 Act. The Company will furnish to each Underwriter, without charge, during the period when the Prospectus is required to be delivered under the 1933 Act or the 1934 Act, such number of copies of the Prospectus as such Underwriter may reasonably request. The Prospectus and any amendments or supplements thereto furnished to the Underwriters will be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T. (e) CONTINUED COMPLIANCE WITH SECURITIES LAWS. The Company will comply with the 1933 Act and the 1933 Act Regulations and the 1934 Act and the 1934 Act Regulations so as to permit the completion of the distribution of the Underwritten Securities as contemplated in this Underwriting Agreement and the applicable Terms Agreement and in the Registration Statement and the Prospectus. If at any time when the Prospectus is required by the 1933 Act or the 1934 Act to be delivered in connection with sales of the Securities, any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Underwriters or for the Company, to amend the Registration Statement in order that the Registration Statement will not 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 not misleading or to amend or supplement the Prospectus in order that the Prospectus will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, or if it shall be necessary, in the opinion of such counsel, at any such time to amend the Registration Statement or amend or supplement the Prospectus in order to comply with the requirements of the 1933 Act or the 1933 Act Regulations, the Company will promptly prepare and file with the Commission, subject to Section 3(b), such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement or the Prospectus comply with such requirements, and the Company will furnish to the Underwriters, without charge, such number of copies of such amendment or supplement as the Underwriters may reasonably request. (f) BLUE SKY QUALIFICATIONS. The Company will use its best efforts, in cooperation with the Underwriters, to qualify the Underwritten Securities for offering and sale under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Representatives may designate and to maintain such qualifications in effect for a period of not less than one year from the date of the applicable Terms Agreement; provided, however, that the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Underwritten Securities have been so 13 qualified, the Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification in effect for a period of not less than one year from the date of such Terms Agreement. (g) EARNINGS STATEMENT. The Company will timely file such reports pursuant to the 1934 Act as are necessary in order to make generally available to its securityholders as soon as practicable an earnings statement for the purposes of, and to provide the benefits contemplated by, the last paragraph of Section 11(a) of the 1933 Act. (h) USE OF PROCEEDS. The Company will use the net proceeds received by it from the sale of the Underwritten Securities in the manner specified in the Prospectus under "Use of Proceeds". (i) LISTING. The Company will use its best efforts to effect the listing of the Underwritten Securities, prior to the Closing Time, on any national securities exchange or quotation system if and as specified in the applicable Terms Agreement. (j) RESTRICTION ON SALE OF SECURITIES. Between the date of the applicable Terms Agreement and the Closing Time or such other date specified in such Terms Agreement, the Company and its Subsidiaries will not, without the prior written consent of the Representatives directly or indirectly, issue, sell, offer or contract to sell, grant any option for the sale or purchase of, or otherwise dispose of, any debt securities; provided, however, that this Section 3(j) shall not be applicable to borrowings under any unsecured revolving credit agreement between the Company or any of its Subsidiaries, on the one hand, and one or more banks, on the other hand. (k) REPORTING REQUIREMENTS. The Company, during the period when the Prospectus is required to be delivered under the 1933 Act or the 1934 Act, will file all documents required to be filed with the Commission pursuant to the 1934 Act within the time periods required by the 1934 Act and the 1934 Act Regulations. SECTION 4. PAYMENT OF EXPENSES. (a) EXPENSES. The Company will pay all expenses incident to the performance of its obligations under this Underwriting Agreement and the applicable Terms Agreement, including (i) the printing and filing of the Registration Statement as originally filed and of each amendment thereto, (ii) the printing of this Underwriting Agreement, any Terms Agreement, any Agreement among Underwriters, the Indenture and such other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Underwritten Securities, (iii) the preparation, issuance and delivery of the certificates for the Underwritten Securities to the Underwriters, including any transfer taxes and any stamp or other duties payable upon the sale, issuance or delivery of such securities to the Underwriter, (iv) the fees and disbursements of the Company's counsel and accountants, (v) the qualification of the Underwritten Securities under state securities laws in accordance with the provisions of Section 3(f) hereof, including filing fees and the reasonable fees and disbursements of counsel for the Underwriters in connection therewith and in connection with the preparation of the Blue Sky Surveys and any legal investment survey, (vi) the printing and delivery to the Underwriters of copies of the Registration Statement as originally filed and of each amendment thereto, of each preliminary prospectus, any Term Sheet, and the Prospectus and any amendments or supplements thereto, (vii) the fees charged by nationally recognized statistical 14 rating organizations for the rating of the Underwritten Securities, (viii) the fees and expenses incurred with respect to any listing of the Underwritten Securities, (ix) the filing fees incident to, and the reasonable fees and disbursements of counsel to the Underwriters in connection with, the review, if any, by the National Association of Securities Dealers, Inc. (the "NASD") of the terms of the sale of the Underwritten Securities, and (x) the fees and expenses of any Underwriter acting in the capacity of a "qualified independent underwriter" (as defined in Rule 2720(b)(15) of the NASD Conduct Rules), if applicable. (b) TERMINATION OF AGREEMENT. If the applicable Terms Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(b)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters. SECTION 5. CONDITIONS OF UNDERWRITERS' OBLIGATIONS. The obligations of the Underwriters to purchase and pay for the Underwritten Securities pursuant to the applicable Terms Agreement are subject to the accuracy of the representations and warranties of the Company contained in Section 1 hereof or in certificates of any officer of the Company or any of its subsidiaries delivered pursuant to the provisions hereof, to the performance by the Company of its covenants and other obligations hereunder, and to the following further conditions: (a) EFFECTIVENESS OF REGISTRATION STATEMENT. The Registration Statement, including any Rule 462(b) Registration Statement, has become effective under the 1933 Act and no stop order suspending the effectiveness of the Registration Statement shall have been issued under the 1933 Act and no proceedings for that purpose shall have been instituted or be pending or threatened by the Commission, and any request on the part of the Commission for additional information shall have been complied with to the reasonable satisfaction of counsel to the Underwriters. A prospectus containing information relating to the description of the Underwritten Securities, the specific method of distribution and similar matters shall have been filed with the Commission in accordance with Rule 424(b)(1), (2), (3), (4) or (5), as applicable (or any required post-effective amendment providing such information shall have been filed and declared effective in accordance with the requirements of Rule 430A), or, if the Company has elected to rely upon Rule 434 of the 1933 Act Regulations, a Term Sheet including the Rule 434 Information shall have been filed with the Commission in accordance with Rule 424(b)(7). (b) OPINION OF COUNSEL FOR COMPANY. At Closing Time, the Underwriters shall have received the opinion, dated as of Closing Time, of each of Sidley Austin Brown & Wood and Holland & Knight, each counsel for the Company, in form and substance satisfactory to counsel for the Underwriters, together with signed or reproduced copies of such letter for each of the other Underwriters, to the effect set forth in Exhibits B and C hereto, respectively, and to such further effect as counsel to the Underwriters may reasonably request. (c) OPINION OF COUNSEL FOR UNDERWRITERS. At Closing Time, the Representatives shall have received the opinion, dated as of Closing Time, of Mayer, Brown, Rowe & Maw, counsel for the Underwriters, together with signed or reproduced copies of such letter for each of the other Underwriters, with respect to the matters set forth in (1) (as to the Company's existence and good standing), (2), (6) to (10), (16), (17), (20) and the third from last paragraph of Exhibit B hereto. In giving such opinion, such counsel may rely, as to all matters governed by the laws 15 of jurisdictions other than the law of the State of New York, the federal law of the United States and the General Corporation Law of the State of Delaware, upon the opinions of counsel satisfactory to the Representatives. Such counsel may also state that, insofar as such opinion involves factual matters, they have relied, to the extent they deem proper, upon certificates of officers of the Company and its subsidiaries and certificates of public officials. (d) ABSENCE OF MATERIAL ADVERSE CHANGES; OFFICERS' CERTIFICATE. At Closing Time, there shall not have been, since the date of the applicable Terms Agreement or since the respective dates as of which information is given in the Prospectus, any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, and the Representatives shall have received a certificate of the Chairman, President or Vice President-Finance of the Company and of the Controller or Treasurer of the Company, dated as of Closing Time, to the effect that (i) there has been no such material adverse change with respect to the Company and its consolidated subsidiaries considered as one enterprise, (ii) the representations and warranties in Section 1(a) are true and correct with the same force and effect as though expressly made at and as of the Closing Time, (iii) the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied at or prior to the Closing Time, and (iv) no stop order suspending the effectiveness of the Registration Statement has been received by the Company or, to the Company's knowledge, issued and, to the Company's knowledge, no proceedings for that purpose have been initiated or threatened by the Commission. (e) ACCOUNTANT'S COMFORT LETTER. At the time of the execution of the applicable Terms Agreement, the Representatives shall have received from PricewaterhouseCoopers LLP a letter dated such date, in form and substance satisfactory to the Representatives together with signed or reproduced copies of such letter for each of the other Underwriters, containing statements and information of the type ordinarily included in accountants' "comfort letters" to underwriters with respect to the financial statements and certain financial information contained in the Registration Statement and the Prospectus. (f) BRING-DOWN COMFORT LETTER. At Closing Time, the Representatives shall have received from PricewaterhouseCoopers LLP a letter, dated as of Closing Time, to the effect that they reaffirm the statements made in the letter furnished pursuant to subsection (e) of this Section 5, except that the specified date referred to shall be a date not more than three business days prior to the Closing Time. (g) RATINGS. At Closing Time and at any relevant Date of Delivery, the Underwritten Securities shall have the ratings accorded by any "nationally recognized statistical rating organization," as defined by the Commission for purposes of Rule 436(g)(2) of the 1933 Act Regulations (a "NRSRO"), if and as specified in the applicable Terms Agreement, or shall have ratings higher than those specified in the applicable Terms Agreement. (h) APPROVAL OF LISTING. At Closing Time, the Underwritten Securities shall have been approved for listing, subject only to official notice of issuance, if and as specified in the applicable Terms Agreement. 16 (i) NO OBJECTION. If the Registration Statement or an offering of Underwritten Securities has been filed with the NASD for review, the NASD shall not have raised any objection that remains unresolved at Closing Time with respect to the fairness and reasonableness of the underwriting terms and arrangements. (j) LOCK-UP AGREEMENTS. On the date of the applicable Terms Agreement, the Representatives shall have received, in form and substance satisfactory to it, each lock-up agreement, if any, specified in such Terms Agreement as being required to be delivered by the persons listed therein. (k) OVER-ALLOTMENT OPTION. In the event that the Underwriters are granted an over-allotment option by the Company in the applicable Terms Agreement and the Underwriters exercise their option to purchase all or any portion of the Option Underwritten Securities, the representations and warranties of the Company contained herein and the statements in any certificates furnished by the Company or any of its subsidiaries hereunder shall be true and correct as of each Date of Delivery, and, at the relevant Date of Delivery, the Representatives shall have received: (1) A certificate, dated such Date of Delivery, of the Chairman, President or Vice President-Finance of the Company and the Controller or Treasurer of the Company, confirming that the certificate delivered at the Closing Time pursuant to Section 5(d) hereof remains true and correct as of such Date of Delivery. (2) The opinion of each of Sidley Austin Brown & Wood and Holland & Knight, each counsel for the Company, in form and substance satisfactory to counsel for the Underwriters, dated such Date of Delivery, relating to the Option Underwritten Securities and otherwise to the same effect as the opinions required by Section 5(b) hereof. (3) The favorable opinion of Mayer, Brown, Rowe & Maw, counsel for the Underwriters, dated such Date of Delivery, relating to the Option Underwritten Securities and otherwise to the same effect as the opinion required by Section 5(c) hereof. (4) A letter from PricewaterhouseCoopers LLP, in form and substance satisfactory to the Representatives and dated such Date of Delivery, substantially in the same form and substance as the letter furnished to the Representatives pursuant to Section 5(f) hereof, except that the "specified date" on the letter furnished pursuant to this paragraph shall be a date not more than three business days prior to such Date of Delivery. (5) Since the time of execution of such Terms Agreement, there shall not have occurred a downgrading in, or withdrawal of, the rating assigned to the Underwritten Securities or any of the Company's other securities by any such rating organization, and no such rating organization shall have publicly announced that it has under surveillance or review with possible negative implications its rating of the Underwritten Securities or any of the Company's other securities. (l) ADDITIONAL DOCUMENTS. At Closing Time and at each Date of Delivery, counsel for the Underwriters shall have been furnished with such documents and opinions as they may 17 reasonably require for the purpose of enabling them to pass upon the issuance and sale of the Underwritten Securities as herein contemplated, or in order to evidence the accuracy of any of the representations or warranties, or the fulfillment of any of the conditions, herein contained; and all proceedings taken by the Company in connection with the issuance and sale of the Underwritten Securities as herein contemplated shall be satisfactory in form and substance to the Representatives and counsel for the Underwriters. (m) TERMINATION OF TERMS AGREEMENT. If any condition specified in this Section 5 shall not have been fulfilled when and as required to be fulfilled, the applicable Terms Agreement (or, with respect to the Underwriters' exercise of any applicable over-allotment option for the purchase of Option Underwritten Securities on a Date of Delivery after the Closing Time, the obligations of the Underwriters to purchase the Option Underwritten Securities on such Date of Delivery) may be terminated by the Representatives by notice to the Company at any time at or prior to the Closing Time (or such Date of Delivery, as applicable), and such termination shall be without liability of any party to any other party except as provided in Section 4 and except that Sections 1, 6, 7 and 8 shall survive any such termination and remain in full force and effect. SECTION 6. INDEMNIFICATION. (a) INDEMNIFICATION OF UNDERWRITERS. The Company agrees to indemnify and hold harmless each Underwriter and each person, if any, who controls any Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act as follows: (1) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, arising out of any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto), including the Rule 430A Information and the Rule 434 Information deemed to be part of the Registration Statement, if applicable, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading or arising out of any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; (2) against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that (subject to Section 6(d) below) any such settlement is effected with the written consent of the Company; and (3) against any and all expense whatsoever, as incurred (including, subject to Section 6(c) hereof, the fees and disbursements of counsel chosen by the Representatives), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue 18 statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (1) or (2) above; provided, however, that (A) this indemnity agreement does not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Company by any Underwriter through the Representatives expressly for use in the Registration Statement (or any amendment thereto), including the Rule 430A Information and the Rule 434 Information deemed to be a part thereof, if applicable, or any preliminary prospectus or the Prospectus (or any amendment or supplement thereto) and (B) as to any preliminary prospectus, any preliminary prospectus supplement, the Prospectus or any amendment or supplement thereto, this indemnity agreement shall not inure to the benefit of any Underwriter on account of any loss, liability, claim, damage or expense arising from the fact that such Underwriter sold Underwritten Securities to a person to whom there was not sent or given, at or prior to the written confirmation of such sale, a copy of the Prospectus (excluding documents incorporated by reference) or of the Prospectus (excluding documents incorporated by reference) as then amended or supplemented in any case where such delivery is required by the 1933 Act if the Company has previously furnished copies thereof to such Underwriter in the quantities requested at a reasonable time prior to the delivery of the written confirmation of such sale and the loss, claim, damage or liability of such Underwriter results from an untrue statement or omission of a material fact contained in such preliminary prospectus, preliminary prospectus supplement, Prospectus (excluding documents incorporated by reference) or amendment or supplement thereto, which the Company has sustained the burden of proving was corrected in the Prospectus (excluding documents incorporated by reference) or in the Prospectus (excluding documents incorporated by reference) as then amended or supplemented. (b) INDEMNIFICATION OF COMPANY, DIRECTORS AND OFFICERS. Each Underwriter severally agrees to indemnify and hold harmless the Company, its directors, each of its officers who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act against any and all loss, liability, claim, damage and expense described in the indemnity contained in subsection (a) of this Section, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendment thereto), including the Rule 430A Information and the Rule 434 Information deemed to be a part thereof, if applicable, or any preliminary prospectus or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with written information furnished to the Company by such Underwriter through the Representatives expressly for use in the Registration Statement (or any amendment thereto) or such preliminary prospectus or the Prospectus (or any amendment or supplement thereto). (c) ACTIONS AGAINST PARTIES; NOTIFICATION. Each indemnified party shall give notice as promptly as reasonably practicable to each indemnifying party of any action commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party 19 will be entitled to participate therein, and to the extent that it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party, provided, however, that if the defendants (including any impleaded party) in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties which are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 6 for any legal fees or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party shall not, in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate counsel (plus any local counsel) representing the indemnified parties under Section 6(a) who are parties to such action); (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of the action; or (iii) the indemnifying party has authorized the employment of counsel for the indemnified party at the expense of the indemnifying party; and except that, if clause (i) or (iii) is applicable, such liability shall be only in respect of the counsel referred to in such clause (i) or (iii). No indemnifying party shall, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which indemnification or contribution could be sought under this Section 6 or Section 7 hereof (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. (d) SETTLEMENT WITHOUT CONSENT IF FAILURE TO REIMBURSE. If at any time an indemnified party shall have requested in writing an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section 6(a)(2) effected without its written consent if (i) such settlement is entered into after the later of (A) 45 days after such indemnified party has mailed (by registered or certified mail, postage prepaid) the aforesaid request to each of the Notice Recipients (as defined below) and (B) if the indemnifying party has not given written notice to such indemnified party of the receipt by such indemnifying party of the aforesaid request, 30 days after such indemnified party has mailed (by registered or certified mail, postage prepaid) a second such request to each of the Notice Recipients, provided that such second request is not mailed prior to the 46th day after the request referred to in subclause (i)(A) above is mailed, (ii) such indemnifying party shall have received notice of the terms of such settlement 20 at least 30 days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. Notwithstanding the immediately preceding sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, an indemnifying party shall not be liable for any settlement of the nature contemplated by Section 6(a)(ii) effected without its consent if such indemnifying party (i) reimburses such indemnified party in accordance with such request to the extent it considers such request to be reasonable and (ii) provides written notice to the indemnified party substantiating the unpaid balance as unreasonable, in each case prior to the date of such settlement. The Notice Recipients are the Chairman and the Assistant General Counsel of the Company. Requests mailed pursuant to this Section 6(d) shall be mailed to LeRoy T. Carlson, Jr., Chairman, United States Cellular Corporation, c/o Telephone and Data Systems, Inc., 30 North LaSalle, Suite 4000, Chicago, IL 60602, with a copy to Stephen P. Fitzell, Esq., Assistant General Counsel, United States Cellular Corporation, c/o Sidley Austin Brown & Wood, 10 South Dearborn, Chicago, IL 60603. SECTION 7. CONTRIBUTION. If the indemnification provided for in Section 6 hereof is for any reason unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such indemnified party, as incurred, (i) in such proportion as is appropriate to reflect the relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, from the offering of the Underwritten Securities pursuant to the applicable Terms Agreement or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company, on the one hand, and the Underwriters, on the other hand, in connection with the statements or omissions which resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company, on the one hand, and the Underwriters, on the other hand, in connection with the offering of the Underwritten Securities pursuant to the applicable Terms Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of such Underwritten Securities (before deducting expenses) received by the Company and the total underwriting discount received by the Underwriters, in each case as set forth on the cover of the Prospectus, or, if Rule 434 is used, the corresponding location on the Term Sheet bear to the aggregate initial public offering price of such Underwritten Securities as set forth on such cover. The relative fault of the Company, on the one hand, and the Underwriters, on the other hand, shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or by the Underwriters and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the 21 Underwriters were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section 7. The aggregate amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section 7 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission or alleged omission. Notwithstanding the provisions of this Section 7, no Underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Underwritten Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which such Underwriter has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 7, each person, if any, who controls an Underwriter within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as such Underwriter, and each director of the Company, each officer of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Company. The Underwriters' respective obligations to contribute pursuant to this Section 7 are several in proportion to the number or aggregate principal amount, as the case may be, of Initial Underwritten Securities set forth opposite their respective names in the applicable Terms Agreement, and not joint. SECTION 8. REPRESENTATIONS, WARRANTIES AND AGREEMENTS TO SURVIVE DELIVERY. All representations, warranties and agreements contained in this Underwriting Agreement or the applicable Terms Agreement, or contained in certificates of officers of the Company or any of its subsidiaries submitted pursuant hereto or thereto shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of any Underwriter or controlling person, or by or on behalf of the Company, and shall survive delivery of and payment for the Underwritten Securities. SECTION 9. TERMINATION. (a) UNDERWRITING AGREEMENT. This Underwriting Agreement (excluding the applicable Terms Agreement) may be terminated for any reason at any time by the Company or by the Representatives upon the giving of 30 days' prior written notice of such termination to the other party hereto. (b) TERMS AGREEMENT. The Representatives may terminate the applicable Terms Agreement, by notice to the Company, at any time at or prior to the Closing Time or any relevant Date of Delivery, if (i) there has been, since the time of execution of such Terms Agreement or 22 since the respective dates as of which information is given in the Prospectus (exclusive of any supplement thereto, after the date of the applicable Terms Agreement), any material adverse change in the condition, financial or otherwise, or in the earnings, business affairs or business prospects of the Company and its consolidated subsidiaries considered as one enterprise, whether or not arising in the ordinary course of business, or (ii) there has occurred any material adverse change in the financial markets in the United States or, if the Underwritten Securities include Debt Securities denominated or payable in, or indexed to, one or more foreign or composite currencies, in the international financial markets, or any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or development involving a prospective change in national or international political, financial or economic conditions, in each case the effect of which is such as to make it, in the reasonable judgment of the Representatives impracticable or inadvisable to market the Underwritten Securities or to enforce contracts for the sale of the Underwritten Securities, or (iii) trading in any securities of the Company has been suspended or materially limited by the Commission or the American Stock Exchange, or if trading generally on the New York Stock Exchange or the American Stock Exchange or in the Nasdaq National Market has been suspended or materially limited, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices have been required, by either of said exchanges or by such system or by order of the Commission, the NASD or any other governmental authority, or a material disruption has occurred in commercial banking or securities settlement or clearance services in the United States, or (iv) a banking moratorium has been declared by either Federal or New York authorities or, if the Underwritten Securities include Debt Securities denominated or payable in, or indexed to, one or more foreign or composite currencies, by the relevant authorities in the related foreign country or countries, or (v) there has occurred, since the time of execution of such Terms Agreement, a downgrading in, or withdrawal of, the rating assigned to the Underwritten Securities or any of the Company's other securities by a NRSRO, or since the time of execution of such Terms Agreement, any such NRSRO shall have publicly announced that it has under surveillance or review with possible negative implications its rating of the Underwritten Securities or any of the Company's other securities. (c) LIABILITIES. If this Underwriting Agreement or the applicable Terms Agreement is terminated pursuant to this Section 9, such termination shall be without liability of any party to any other party except as provided in Section 4 hereof, and provided further that Sections 1, 6, 7 and 8 shall survive such termination and remain in full force and effect. SECTION 10. DEFAULT BY ONE OR MORE OF THE UNDERWRITERS. If one or more of the Underwriters shall fail at the Closing Time or the relevant Date of Delivery, as the case may be, to purchase the Underwritten Securities which it or they are obligated to purchase under the applicable Terms Agreement (the "Defaulted Securities"), then the Representatives and the Company shall have the right, within 24 hours thereafter, to make arrangements for one or more of the non-defaulting Underwriters, or any other underwriters reasonably acceptable to the Representatives, to purchase all, but not less than all, of the Defaulted Securities in such amounts as may be agreed upon and upon the terms herein set forth; if, however, the Representatives shall not have completed such arrangements within such 24-hour period, then: (a) if the number or aggregate principal amount, as the case may be, of Defaulted Securities does not exceed 10% of the number or aggregate principal amount, as the case may be, of Underwritten Securities to be purchased on such date pursuant to such Terms Agreement, the 23 non-defaulting Underwriters shall be obligated, severally and not jointly, to purchase the full amount thereof in the proportions that their respective underwriting obligations under such Terms Agreement bear to the underwriting obligations of all non-defaulting Underwriters, or (b) if the number or aggregate principal amount, as the case may be, of Defaulted Securities exceeds 10% of the number or aggregate principal amount, as the case may be, of Underwritten Securities to be purchased on such date pursuant to such Terms Agreement, such Terms Agreement (or, with respect to the Underwriters' exercise of any applicable over-allotment option for the purchase of Option Underwritten Securities on a Date of Delivery after the Closing Time, the obligations of the Underwriters to purchase, and the Company to sell, such Option Underwritten Securities on such Date of Delivery) shall terminate without liability on the part of any non-defaulting Underwriter. No action taken pursuant to this Section 10 shall relieve any defaulting Underwriter from liability in respect of its default. In the event of any such default which does not result in (i) a termination of the applicable Terms Agreement or (ii) in the case of a Date of Delivery after the Closing Time, a termination of the obligations of the Underwriters and the Company with respect to the related Option Underwritten Securities, as the case may be, either the Representatives or the Company shall have the right to postpone the Closing Time or the relevant Date of Delivery, as the case may be, for a period not exceeding seven days in order to effect any required changes in the Registration Statement or the Prospectus or in any other documents or arrangements. SECTION 11. NOTICES. Except as otherwise provided in Section 6(d), all notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication. Notices to the Underwriters shall be directed to the Representatives as follows: Morgan Stanley & Co. Incorporated, Attention: Michael Fusco, Executive Director, Global Capital Markets, 1585 Broadway, New York, NY 10036; notices to the Company shall be directed to LeRoy T. Carlson, Jr., Chairman, United States Cellular Corporation, c/o Telephone and Data Systems, Inc., 30 North LaSalle, Suite 4000, Chicago, IL 60602, with a copy to Stephen P. Fitzell, Esq., Assistant General Counsel, United States Cellular Corporation, c/o Sidley Austin Brown & Wood, 10 South Dearborn, Chicago, IL 60603. SECTION 12. PARTIES. This Underwriting Agreement and the applicable Terms Agreement shall each inure to the benefit of and be binding upon the Company, the Representatives and, upon execution of such Terms Agreement, any other Underwriters and their respective successors. Nothing expressed or mentioned in this Underwriting Agreement or such Terms Agreement is intended or shall be construed to give any person, firm or corporation, other than the Underwriters and the Company and their respective successors and the controlling persons and officers and directors referred to in Sections 6 and 7 and their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Underwriting Agreement or such Terms Agreement or any provision herein or therein contained. This Underwriting Agreement and such Terms Agreement and all conditions and provisions hereof and thereof are intended to be for the sole and exclusive benefit of the parties hereto and thereto and their respective successors, and said controlling persons and officers and directors 24 and their heirs and legal representatives, and for the benefit of no other person, firm or corporation. No purchaser of Underwritten Securities from any Underwriter shall be deemed to be a successor by reason merely of such purchase. SECTION 13. GOVERNING LAW AND TIME. THIS UNDERWRITING AGREEMENT AND ANY APPLICABLE TERMS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EXCEPT AS OTHERWISE SET FORTH HEREIN, SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. SECTION 14. EFFECT OF HEADINGS. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 25 If the foregoing is in accordance with your understanding of our agreement, please sign and return to the Company a counterpart hereof, whereupon this Underwriting Agreement, along with all counterparts, will become a binding agreement between the Representatives and the Company in accordance with its terms. Very truly yours, UNITED STATES CELLULAR CORPORATION By: /s/ LeRoy T. Carlson, Jr. Name: LeRoy T. Carlson, Jr. Title: Chairman By: /s/ Kenneth R. Meyers Name: Kenneth R. Meyers Title: Executive Vice President (Chief Financial Officer) and Treasurer CONFIRMED AND ACCEPTED, as of the date first above written: MERRILL, LYNCH, PIERCE, FENNER & SMITH INCORPORATED MORGAN STANLEY & CO. INCORPORATED UBS WARBURG LLC BY: MORGAN STANLEY & CO. INCORPORATED By: /s/ Michael Fusco Authorized Signatory Acting on behalf of itself and the other named Underwriters. [Signature Page to the Underwriting Agreement] EX-4.1 4 a2092410zex-4_1.txt EX-4.1 EXHIBIT 4.1 SECOND SUPPLEMENTAL INDENTURE This SECOND SUPPLEMENTAL INDENTURE, dated as of October 31, 2002 (the "Second Supplemental Indenture"), is entered into by and among United States Cellular Corporation, a corporation duly organized and existing under the laws of the State of Delaware (the "Company"), and BNY Midwest Trust Company, an Illinois trust company, as trustee (the "Trustee"). W I T N E S S E T H: WHEREAS, the Company and the Trustee are parties to an Indenture, dated as of June 1, 2002 (the "Indenture"), relating to the issuance from time to time by the Company of its Securities on terms to be specified at the time of issuance; WHEREAS, Section 9.01 of the Indenture provides that a supplemental indenture may be entered into by the Company and the Trustee, without the consent of any Holders of Securities, to establish the form or terms of securities of any series as permitted by Section 2.01 of the Indenture, add to the covenants of the Company, add provisions that are not inconsistent with the other provisions and do not adversely affect the rights of holders of Securities and to add Events of Default with respect to all or any series of outstanding Securities; WHEREAS, pursuant to Section 9.01(b), (d), (e) and (f) of the Indenture, this Second Supplemental Indenture does not require the consent of any holders of Securities; and WHEREAS, all things necessary to make this Second Supplemental Indenture a valid and legally binding agreement of the Company, the Company and the Trustee and a valid amendment of and supplement to the Indenture have been done. NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH: For and in consideration of the premises and the issuance of the Series of Securities provided for herein, the Company and the Trustee mutually covenant and agree for the equal and proportionate benefit of the respective Holders of the Securities of each such Series as follows: ARTICLE ONE RELATION TO INDENTURE; DEFINITIONS; RULES OF CONSTRUCTION SECTION 1.1 RELATION TO INDENTURE. This Supplemental Indenture constitutes an integral part of the Indenture. section 1.2 DEFINITIONS. For all purposes of this Supplemental Indenture, the following terms shall have the respective meanings set forth in this Section. "Assets" means the gross dollar amount of assets, as defined by generally accepted accounting principles, less accumulated depreciation and amortization. "Capitalized Rent" means the present value (discounted semi-annually at a discount rate equal to the weighted average rate of interest borne by the Securities then Outstanding) of the total net amount of rent payable for the remaining term of any lease of property by the Company (including any period for which any lease has been extended); PROVIDED, HOWEVER, that no such rental obligation shall be deemed to be Capitalized Rent unless the lease resulted from a Sale and Leaseback Transaction. The total net amount of rent payable under any lease for any period shall be the total amount of the rent payable by the lessee with respect to such period but shall not include amounts required to be paid on account of maintenance and repairs, insurance, taxes assessments, water rates, sewer rates and similar charges. "Capital Stock" means and includes any and all shares, interests, participations or other equivalents (however designated) of ownership in a corporation or other Person. "Consolidated Assets" means the Assets of the Company and its Subsidiaries determined on a consolidated basis as of the end of the Company's then most recently reported fiscal year or quarter, as the case may be, including minority interests in Subsidiaries. "Control" means ownership of voting power sufficient to elect a majority of the directors or other members of the governing body of any Person. "Debt" means, with respect to a Person, all obligations of such Person for borrowed money and all such obligations of any other Person for borrowed money guaranteed by such Person. "Funded Debt" means any Debt maturing by its terms more than one year from its date of issuance (notwithstanding that any portion of such Debt is included in current liabilities). "Lien" means any mortgage, pledge, security interest, lien, charge or other encumbrance. "property" means any directly-held interest of a Person in any kind of property or asset whether real, personal or mixed and whether tangible or intangible, and includes capital stock or other ownership interests or participations in or indebtedness of a subsidiary or other Person. "Sale and Leaseback Transaction" means any arrangement with any Person other than a Tax Consolidated Subsidiary providing for the leasing (as lessee) by the Company of any property (except for temporary leases for a term, including any renewal thereof, of not more than three years (providing that any such temporary lease may be for a term of up to five years if (a) the Board of Directors of the Company reasonably finds such term to be in the best interest of the Company and (b) the primary purpose of the transaction of which such lease is part is not to provide funds to or financing for the Company)), which property has been or is to be sold or transferred by the Company (i) to any subsidiary of the Company in contemplation of or in connection with such arrangement or (ii) to such other Person. "Secured Debt" means Debt of the Company secured by any Lien on property (including Capital Stock or indebtedness of subsidiaries of the Company) owned by the Company. 2 "Tax Consolidated Subsidiary" means a subsidiary of the Company in respect of which, at the time a Sale and Leaseback Transaction is entered into by the Company, the Company would be entitled to file a consolidated federal income tax return. Capitalized terms used herein without definition shall have the same meanings given them in the Indenture. SECTION 1.3 RULES OF CONSTRUCTION. For all purposes of this Supplemental Indenture: (a) capitalized terms used herein without definition shall have the meanings specified in the Indenture; (b) all references herein to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of this Supplemental Indenture; (c) the terms "herein", "hereof', "hereunder" and other words of similar import refer to this Supplemental Indenture; and (d) in the event of a conflict with the definition of terms in the Indenture, the definitions in this Supplemental Indenture shall control. ARTICLE TWO THE SECURITIES There is hereby established a Series of Securities pursuant to the Indenture with the following terms: SECTION 2.1 TITLE OF THE SECURITIES. The Series of Securities shall be designated the 8.75% Senior Notes due 2032 (the "Notes"). SECTION 2.2 LIMITATION ON AGGREGATE PRINCIPAL AMOUNT. The Notes will be initially issued in an aggregate principal amount of up to $132,250,000 (except for Notes authenticated and delivered upon registration of transfer of, in exchange for or in lieu of other Notes). The aggregate principal amount of Notes which may be authenticated and delivered shall be limited to $132,250,000. section 2.3 FORM AND DATING. (a) GENERAL. The Notes and the Trustee's certificate of authentication shall be substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note shall be dated the date of its authentication. The Notes shall be in denominations of $25.00 and integral multiples thereof. The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Supplemental Indenture, and the Company and the Trustee, by their execution and delivery of this Supplemental Indenture, expressly agree to such terms and 3 provisions and to be bound thereby. However, to the extent any provision of any Notes conflicts with the express provisions of this Supplemental Indenture, the provisions of this Supplemental Indenture shall govern and be controlling. (b) BOOK-ENTRY PROVISIONS. The Notes shall be issued initially in global form and the Company hereby designates The Depository Trust Company as the initial Depositary for the Global Securities. Except as provided in Section 2.11 of the Indenture, owners of beneficial interests in Global Securities will not be entitled to receive physical delivery of certificated Notes. SECTION 2.4 OPTIONAL REDEMPTION. The Notes may be redeemed at the option of the Company, in whole or in part, at any time on and after November 7, 2007 at a redemption price equal to 100% of the principal amount of the Notes being redeemed on the redemption date, plus accrued and unpaid interest thereon to the redemption date. The Company shall mail notice of any redemption at least 30 days but not more than 60 days before the redemption date to each registered Holder of the Notes to be redeemed. Once notice of redemption is mailed, the Notes called for redemption will become due and payable on the redemption date and at the applicable redemption price, plus accrued and unpaid interest to the redemption date. ARTICLE THREE ADDITIONAL COVENANTS OF THE COMPANY SECTION 3.1 LIMITATIONS ON SECURED DEBT. So long as any of the Notes remain Outstanding, the Company will not create or incur any Secured Debt without in any such case effectively providing concurrently with the creation or incurrence of any such Secured Debt that the Notes then Outstanding (together with, if the Company shall so determine, any other Debt of or guaranteed by the Company ranking equally with the Notes and then existing or thereafter created) shall be secured equally and ratably with (or, at the option of the Company, prior to) such Secured Debt, unless immediately after the incurrence of such Secured Debt (and after giving effect to the application of the proceeds, if any, therefrom), the aggregate principal amount of all Secured Debt, together with the aggregate amount of Capitalized Rent in respect of Sale and Leaseback Transactions (other than Sale and Leaseback Transactions described in clauses (a) to (f), inclusive, of Section 3.2), would not exceed 20% of the Consolidated Assets; PROVIDED, HOWEVER, that the foregoing restrictions shall not apply to, and there shall be excluded in computing Secured Debt for the purpose of such restrictions, Secured Debt secured by: (a) Liens on property existing at the time of acquisition of such property by the Company, or Liens to secure the payment of all or any part of the purchase price of property acquired or constructed by the Company (including any improvements to existing property) created at the time of or within 270 days following the acquisition of such property by the Company, or Liens to secure any Secured Debt incurred by the Company prior to, at the time of or within 270 days following the acquisition of such property, which Secured Debt is incurred for the purpose of financing all or any part of the purchase price thereof; PROVIDED, HOWEVER, that in the case of any such acquisition, the Lien shall not apply to any property theretofore owned by the Company (including property transferred by the Company to any subsidiary of the Company in contemplation of or in connection with the creation of such Lien) or to any property of the 4 Company other than the property so acquired (other than, in the case of construction or improvement, any theretofore unimproved real property or portion thereof on which the property so constructed, or improvement, is located); (b) Liens on property of a person (i) existing at the time such Person is merged into or consolidated with the Company or at the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to the Company, (ii) resulting from such merger, consolidation, sale, lease or disposition by virtue of any Lien on property granted by the Company prior to such merger, consolidation, sale, lease or disposition (and not in contemplation thereof or in connection therewith) which applies to after-acquired property of the Company or (iii) resulting from such merger, consolidation, sale, lease or disposition pursuant to a Lien or contractual provision granted or entered into by such Person prior to such merger, consolidation, sale, lease or disposition (and not at the request of the Company); PROVIDED, HOWEVER, that any such Lien referred to in clause (i) shall not apply to any property of the Company other than the property subject thereto, at the time such Person or properties were acquired and any such Lien referred to in clause (ii) or (iii) shall not apply to any property of the Company other than the property so acquired; (c) Liens existing on the date of this Supplemental Indenture; (d) Liens in favor of a government or governmental entity to secure partial progress, advance or other payments, or other obligations, pursuant to any contract or statute or to secure any Debt incurred for the purpose of financing all or any part of the cost of acquiring, constructing or improving the property subject to such Liens (including, without limitation, Liens incurred in connection with pollution control, industrial revenue, private activity bond or similar financing); (e) Liens arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, which Lien is required by law or governmental regulation as a condition to the transaction of any business or the exercise of any privilege, franchise, license or permit; (f) Liens for taxes, assessments or governmental charges or levies not yet delinquent or governmental charges or levies already delinquent, the validity of which charge or levy is being contested in good faith and for which any reserves required in accordance with generally accepted accounting principles have been established; (g) Liens (including judgment liens) arising in connection with legal proceedings so long as such proceedings are being contested in good faith and, in the case of judgment liens, execution thereon is stayed and for which any reserves required in accordance with generally accepted accounting principles have been established; (h) Liens on any equity interests owned by the Company or by any of its subsidiaries in (i) Rural Cellular Corporation, Vodafone Group plc or any of their respective successors, or (ii) any other person or persons that are not directly, or indirectly through one or more intermediaries, controlled by the Company or by any of its subsidiaries; 5 (i) Liens upon or in any property or assets now owned or from time to time hereafter acquired by the Company or any of its subsidiaries related in any way to the ownership by the Company or by any of its subsidiaries of wireless telecommunications towers, including, but not limited to, tower structures, land on which towers are located, other real estate associated with such towers, leases for towers or for tower sites, subleases, licenses, collocation arrangements, easements and all other real property and other tangible or intangible assets related thereto; (j) Liens incurred and deposits made in the ordinary course of business to secure surety and appeal bonds, leases, return-on-money bonds and other similar obligations, exclusive of obligations for the payment of borrowed money; and (k) any extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part of any Lien referred to in the foregoing clauses (a) to (j), inclusive; PROVIDED, HOWEVER, that the principal amount of Secured Debt secured thereby shall not exceed the principal amount of Secured Debt secured thereby at the time of such extension, renewal or replacement, and that such extension, renewal or replacement shall be limited to all or a part of the property which secured the Lien so extended, renewed or replaced (plus improvements to such property). SECTION 3.2 LIMITATION ON SALE AND LEASEBACK. The Company will not enter into any Sale and Leaseback Transaction unless immediately thereafter (and after giving effect to the application of the proceeds, if any, therefrom), the aggregate amount of Capitalized Rent in respect of Sale and Leaseback Transactions, together with the aggregate principal amount of all Secured Debt (other than Secured Debt described in clauses (a) to (k), inclusive, of Section 3.1), would not exceed 20% of Consolidated Assets; PROVIDED, HOWEVER, that the foregoing restrictions shall not apply to, and there shall be excluded in computing the aggregate amount of Capitalized Rent for the purpose of such restrictions, the following Sale and Leaseback Transactions: (a) any Sale and Leaseback Transaction entered into to finance the payment of all or any part of the purchase price of property acquired or constructed by the Company (including any improvements to existing property) or entered into prior to, at the time of or within 270 days after the acquisition or construction of such property, which Sale and Leaseback Transaction is entered into for the purpose of financing all or part of the purchase or construction price thereof; PROVIDED, HOWEVER, that in the case of any such acquisition, such Sale and Leaseback Transaction shall not involve any property transferred by the Company to a subsidiary of the Company in contemplation of or in connection with such Sale and Leaseback Transaction or involve any property of the Company other than the property so acquired (other than, in the case of construction or improvement, any theretofore unimproved real property or portion thereof on which the property so constructed, or the improvement, is located); (b) any Sale and Leaseback Transaction involving property of a Person existing at the time such Person is merged into or consolidated with the Company or at the time of a sale, lease or other disposition of the properties of a Person as an entirety or substantially as an entirety to the Company; (c) any Sale and Leaseback Transaction in which the lessor is a government or governmental entity and which Sale and Leaseback Transaction is entered into to secure partial 6 progress, advance or other payments, or other obligations, pursuant to any contract or statute or to secure any Debt incurred for the purpose of financing all or any part of the cost of constructing or improving the property subject to such Sale and Leaseback Transaction (including, without limitation, Sale and Leaseback Transactions incurred in connection with pollution control, industrial revenue, private activity bond or similar financing); (d) any Sale and Leaseback Transaction involving any property or assets now owned or from time to time hereafter acquired by the Company or any of its subsidiaries related in any way to the ownership by the Company or by any of its subsidiaries of wireless telecommunications towers, including, but not limited to, tower structures, land on which towers are located, other real estate associated with such towers, leases for towers or for tower sites, subleases, licenses, collocation arrangements, easements and all other real property and other tangible or intangible assets related thereto; (e) any Sale and Leaseback Transaction the net proceeds of which are at least equal to the fair value (as determined by the Board of Directors of the Company) of the property leased pursuant to such Sale and Leaseback Transaction, so long as within 270 days of the effective date of such Sale and Leaseback Transaction, the Company applies (or irrevocably commits to an escrow account for the purpose or purposes hereinafter mentioned) an amount equal to the net proceeds of such Sale and Leaseback Transaction to either (x) the purchase of other property having a fair value at least equal to the fair value of the property leased in such Sale and Leaseback Transaction and having a similar utility and function, or (y) the retirement or repayment (other than any mandatory retirement or repayment at maturity) of (i) Notes, (ii) other Funded Debt of the Company which ranks prior to or in a parity with the Notes or (iii) indebtedness of any subsidiary of the Company maturing by its terms more than one year from its date of issuance (notwithstanding that any portion of such indebtedness is included in current liabilities) or preferred stock of any subsidiary of the Company (other than any such indebtedness owed to or preferred stock owned by the Company or any subsidiary of the Company); PROVIDED, however, that in lieu of applying an amount equivalent to all or any part of such net proceeds to such retirement or repayment (or committing such an amount to any escrow account for such purpose), the Company may deliver to the Trustee Outstanding Notes and thereby reduce the amount to be applied pursuant to (y) of this clause (e) by an amount equivalent to the aggregate principal amount of the Notes so delivered; and (f) any Sale and Leaseback Transaction involving the extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part of a lease pursuant to a Sale and Leaseback Transaction referred to in the foregoing clauses (a) to (e), inclusive; PROVIDED, HOWEVER, that such lease extension, renewal or replacement shall be limited to all or any part of the same property leased under the lease so extended, renewed or replaced (plus improvements to such property). 7 ARTICLE FOUR ADDITIONAL REMEDIES OF THE TRUSTEE AND SECURITYHOLDERS ON EVENTS OF DEFAULT SECTION 4.1 ADDITIONAL EVENTS OF DEFAULT. In addition to the "Events of Default" provided for in Section 6.01 of the Indenture, the following shall also constitute "Events of Default" with respect to the Notes as contemplated by Section 6.01(a)(6) of the Indenture: (i) a default occurs under any instrument (including this Indenture) under which there is at the time outstanding, or by which there may be secured or evidenced, any indebtedness of the Company for money borrowed by the Company (other than non-recourse indebtedness) which results in acceleration (whether by declaration or automatically) of, or the non payment at maturity (after giving effect to any applicable grace period) of, such indebtedness in an aggregate amount exceeding 2% of Consolidated Assets, in which case the Company shall immediately give notice to the Trustee of such acceleration or non-payment and (ii) there shall have been a failure to cure such default or to discharge all such defaulted indebtedness within ten days after notice thereof to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Notes then Outstanding (excluding, if such defaulted indebtedness includes the Notes, such Notes) and such acceleration shall not be rescinded or annulled; PROVIDED, HOWEVER, that it shall not constitute an Event of Default hereunder as long as the Company is contesting any such default or acceleration in good faith and by appropriate proceedings. ARTICLE FIVE MISCELLANEOUS PROVISIONS SECTION 5.1 RATIFICATION. The Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed SECTION 5.2 GOVERNING LAW. This Second Supplemental Indenture shall be governed by, and construed and enforced in accordance with, the laws of the jurisdiction which govern the Indenture and its construction. SECTION 5.3 COUNTERPARTS AND METHOD OF EXECUTION. This Second Supplemental Indenture may be executed in several counterparts, all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all parties have not signed the same counterpart. SECTION 5.4 SECTION TITLES. Section titles are for descriptive purposes only and shall not control or alter the meaning of this Second Supplemental Indenture as set forth in the text. SECTION 5.5 TRUSTEE. The Trustee makes no representations and is not responsible for the sufficiency, validity or legality of this Second Supplemental Indenture. The statements herein are deemed to be those of the Company and not of the Trustee. 8 IN WITNESS WHEREOF, the Parties hereto have caused this Second Supplemental Indenture to be duly executed all as of the day and year first above written. UNITED STATES CELLULAR CORPORATION a Delaware corporation By: /s/ LeRoy T. Carlson, Jr. ----------------------------------------- Name: LeRoy T. Carlson, Jr. Title: Chairman By: /s/ Kenneth R. Meyers ----------------------------------------- Name: Kenneth R. Meyers Title: Executive Vice President - Finance (Chief Financial Officer) and Treasurer BNY MIDWEST TRUST COMPANY, Trustee, an Illinois Trust Company By: /s/ Mary Callahan ----------------------------------------- Name: Mary Callahan Title: Assistant Vice President SIGNATURE PAGE TO SECOND SUPPLEMENTAL INDENTURE RE: SENIOR NOTES EXHIBIT A TO SECOND SUPPLEMENTAL INDENTURE Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation ("DTC"), to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. Except as otherwise provided in Section 2.11 of the Indenture, this Security may be transferred, in whole but not in part, only to another nominee of the Depository or to a successor Depository or to a nominee of such successor Depository. No. _____ CUSIP: __________ ISIN: __________ UNITED STATES CELLULAR CORPORATION 8.75% SENIOR NOTES DUE 2032 Principal Amount: $_______________ Stated Maturity Date: November 1, 2032 Original Issue Date: November 7, 2002 Interest Rate: 8.75% per annum UNITED STATES CELLULAR CORPORATION, a corporation duly organized and existing under the laws of the State of Delaware (herein referred to as the "Company", which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & CO. or registered assigns, the Principal Amount specified above on the Stated Maturity Date specified above, and to pay interest on said Principal Amount from November 7, 2002 at the Interest Rate specified above on February 1, 2003 and thereafter quarterly on May 1, August 1, November 1 and February 1 of each year (each an "Interest Payment Date"), until the Principal Amount will have been paid or duly provided for. On an Interest Payment Date, interest will be paid to the persons in whose names the Notes (as defined below) were registered as of the Record Date (the "Record Date"). With respect to any Interest Payment Date, while the Notes remain in the form of a Global Security, the Record Date will be one Business Day prior to the relevant Interest Payment Date. The amount of interest payable for any period will be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any period shorter than a full quarterly interest period will be computed on the basis of the number of days elapsed in a 90- day quarter of three 30-day months. If any Interest Payment Date falls on a Saturday, Sunday, legal holiday or a day on which banking institutions in the City of New York are authorized by law to close, then payment of interest will be made on the next succeeding business day and no additional interest will accrue because of the delayed payment, except that, if such business day is in the next succeeding calendar year, such payment shall be made on the immediately preceding business day, with the same force and effect as if made on such date. Payment of the principal of this Note and the interest thereon will be made at the office or agency of the Company in the Borough of Manhattan, City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. The Notes are issuable only in registered form without coupons in denominations of $25.00 and any integral multiple thereof. The Notes will be redeemable at the option of the Company, in whole or in part, at any time on and after November 7, 2007, upon not less than 30 nor more than 60 days notice, at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the redemption date. In case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on a pro rata basis, by lot or by such other method as the Trustee in its sole discretion shall deem to be fair and appropriate, although no Note of $25.00 in principal amount at maturity or less shall be redeemed in part. If any Note is to be redeemed in part only, the notice of redemption relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Note in principal amount at maturity equal to the unredeemed portion thereof will be issued in the name of the holder thereof upon cancellation of the original Note. This Note is one of a duly authorized series of Securities of the Company, issuable in one or more series under and pursuant to an Indenture dated as of June 1, 2002 duly executed and delivered between the Company and BNY Midwest Trust Company, as Trustee (herein referred to as the "Trustee"), and have been designated pursuant to the Second Supplemental Indenture thereto dated October 31, 2002 (such Indenture, as originally executed and delivered and as thereafter supplemented and amended being herein after referred to as the "Indenture"). Reference is made to the Indenture and all indentures supplemental thereto for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the holders of the Notes. By the terms of the Indenture, Securities are issuable in series which may vary as to amount, date of maturity, rate of interest and in other respects as in the Indenture provided. This Note is one of the series of Securities designated on the face hereof. Notes may be exchanged upon presentation thereof at the office or agency of the Company designated for such purpose, for other Notes of authorized denominations, and for a like aggregate principal amount, upon payment of a sum sufficient to cover any tax or other governmental charge in relation thereto, all as provided in the Indenture. In respect of any Notes so surrendered for exchange, the Company will execute, the Trustee will authenticate and such office or agency will deliver in exchange therefor the Note or Notes of the same series which the 2 Securityholder making the exchange will be entitled to receive, bearing numbers not contemporaneously outstanding. The Company will keep, or cause to be kept, at its office or agency designated for such purpose in the Borough of Manhattan, the City and State of New York, or such other location designated by the Company a register or registers (herein referred to as the "Note Register") in which, subject to such reasonable regulations as it may prescribe, the Company will register the Notes and the transfers of Notes. The registrar for the purpose of registering Notes and transfer of Notes will initially be the Trustee or such other person as may be subsequently appointed as authorized by Board Resolution or Company Order (the "Note Registrar"). Upon surrender for transfer of any Note at the office or agency of the Company designated for such purpose in the Borough of Manhattan, the City and State of New York, or other location as aforesaid, the Company will execute, the Trustee will authenticate and such office or agency will deliver in the name of the transferee or transferees a new Note or Notes presented for a like aggregate principal amount. All Notes presented or surrendered for exchange or registration of transfer will be accompanied (if so required by the Company or the Note Registrar) by a written instrument or instruments of transfer, in form satisfactory to the Company or the Note Registrar, duly executed by the registered holder or by his duly authorized attorney in writing. Except as provided in the Indenture, no service charge will be assessed for any exchange or registration of transfer of Notes, or issue of new Notes in case of partial redemption, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge in relation thereto as provided in the Indenture. The Company will neither be required (i) to issue, exchange or register the transfer of any Notes during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of less than all the outstanding Notes and ending at the close of business on the day of such mailing, nor (ii) to register the transfer of or exchange any Notes or portions thereof called for redemption. As long as this Note is represented in global form (the "Global Security") registered in the name of The Depositary Trust Company or its nominee, except as provided in the Indenture and subject to certain limitations therein set forth, no Global Security shall be exchangeable or transferable. So long as any Notes remain outstanding, the Company agrees to maintain an office or agency with respect to each such series, which will be in the Borough of Manhattan, the City and State of New York or at such other location or locations as may be designated as provided in the Indenture, where (i) Notes may be presented for payment, (ii) Notes may be presented as for registration of transfer and exchange, and (iii) notices and demands to or upon the Company in respect of the Securities of that series and this Indenture may be given or served, such designation to continue with respect to such office or agency until the Company will, by written notice signed by an Authorized Officer and delivered to the Trustee, designate some other office or agency for such purposes or any of them. The Company may also from time to time designate 3 one or more other offices or agencies for the foregoing purposes within or outside the Borough of Manhattan, City of New York, and may from time to time rescind such designations. The Trustee or its agent at its offices in New York, New York will initially act as Notes Registrar and paying agent for the Notes. The Notes are not subject to any sinking fund. If an Event of Default (as defined in the Indenture) with respect to the Notes shall occur and be continuing, the principal plus any accrued interest may be declared due and payable in the manner and with the effect and subject to the conditions provided in the Indenture. The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Note upon compliance by the Company with certain conditions set forth therein. Prior to the due presentment for registration of transfer of any Notes, the Company, the Trustee, any paying agent and any Note Registrar may deem and treat the person in whose name such Note will be registered upon the books of the Company as the absolute owner of such Note (whether or not such Note will be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Note Registrar) for the purpose of receiving payment of or on account of the principal of and premium, if any, and (subject to the Indenture) interest on such Note and for all other purposes; and neither the Company nor the Trustee nor any paying agent nor any Note Registrar will be affected by any notice to the contrary. The Company and the Trustee may execute supplemental indentures without the consent of any holder of Notes for certain purposes as specified in the Indenture and with the consent of the holders of not less than a majority in aggregate principal amount of the Securities for certain other purposes as specified in the Indenture. No recourse will be had for the payment of the principal of or the interest on this Note, or for any claim based hereon, or otherwise in respect hereof, or based on or in respect of the Indenture, against any incorporator, stockholder, officer or director, past, present or future, as such, of the Company or of any predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and released. THIS NOTE WILL BE DEEMED TO BE A CONTRACT UNDER THE LAWS OF THE STATE OF ILLINOIS, AND FOR ALL PURPOSES WILL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF SUCH STATE, EXCEPT AS MAY OTHERWISE BE REQUIRED BY MANDATORY PROVISIONS OF LAW. All terms used in this Note which are defined in the Indenture will have the meanings assigned to them in the Indenture. This Note will not be entitled to any benefit under the Indenture hereinafter referred to, be valid or become obligatory for any purpose until the Certificate of Authentication hereon will have been signed by or on behalf of the Trustee. 4 IN WITNESS WHEREOF, the Company has caused this Instrument to be executed. UNITED STATES CELLULAR CORPORATION a Delaware corporation By: --------------------------------------- Name: LeRoy T. Carlson, Jr. Title: Chairman By: --------------------------------------- Name: Kenneth R. Meyers Title: Executive Vice President - Finance (Chief Financial Officer) and Treasurer TRUSTEE'S CERTIFICATE OF AUTHENTICATION This is one of the Securities of the series designated in accordance with, and referred to in, the within-mentioned Indenture. Dated:_______________ BNY Midwest Trust Company, as Trustee By:___________________________ Authorized Signatory SIGNATURE PAGE TO GLOBAL SECURITY FOR SENIOR NOTES OF UNITED STATES CELLULAR CORPORATION ASSIGNMENT FORM To assign this Note, fill in the form below: I or we assign and transfer this Note to -------------------------------------- -------------------------------------- Insert assignee's Social Security or tax I.D. no. - ---------------------------------------------------------------------------------------------------------------------- (Print or type assignee's name, address and zip code) - ---------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- and all rights thereunder and irrevocably appoint - ---------------------------------------------------------------------------------------------------------------------- agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. - ---------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------- Dated: ----------------------------------- ----------------------------------------------------------------- Notice: The signature to this assignment must correspond with the name as it appears on the first page of the within Note.
EX-99.1 5 a2092410zex-99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 Contact: Kenneth R. Meyers, Executive Vice President-Finance-U.S. Cellular (773) 399-8900 kmeyers@uscellular.com Mark A. Steinkrauss, Vice President, Corporate Relations - TDS (312) 592-5384 mark.steinkrauss@teldta.com FOR RELEASE: IMMEDIATE USM Announces the sale of $115 Million NOTEs NOVEMBER 1, 2002 - CHICAGO, ILLINOIS - United States Cellular Corporation [AMEX:USM] announced that it has sold $115 million of 8.75% Senior Notes due November 7, 2032, plus an option for the underwriters to purchase up to an additional $17 million of Notes. The Notes will be callable at par beginning on November 7, 2007. Closing is expected to occur on November 7, 2002. The Notes have been rated A3 by Moody's, A- by Standard & Poor's, and A- by Fitch. The Notes are expected to be listed on the New York Stock Exchange. USM expects to use the net proceeds of the offering to repurchase a portion of its outstanding 9% Series A Notes due 2032, resulting in interest savings. Morgan Stanley, Merrill Lynch & Co. and UBS Warburg were the lead managers for the debt offering. Wachovia Securities was co-manager for the offering. Copies of the prospectus supplement and the prospectus may be obtained from the book-running managers. USM intends to file a prospectus supplement with the Securities and Exchange Commission in connection with the offering. The prospectus supplement relates to the shelf registration statement filed by USM on May 15, 2002 which registered up to $500 million in debt securities for offer and sale by USM from time to time. This shelf registration statement was declared effective on May 28, 2002. The offering is being made only by means of the prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Based in Chicago, U.S. Cellular manages and invests in wireless systems throughout the United States. As of September 30, 2002, U.S. Cellular included operational systems serving 149 cellular and PCS markets in its consolidated operations. All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the Company's plans, beliefs, estimates and expectations. These statements are based on current estimates and projections, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: the ability of the Company to integrate the operations of the Chicago MTA; changes in the overall economy; changes in competition in the markets in which the Company operates; advances in telecommunications technology; changes in the telecommunications regulatory environment; changes in the value of investments; changes in the capital markets that could restrict the availability of financing; pending and future litigation; acquisitions/divestitures of properties and/or licenses; changes in customer growth rates, penetration rates, churn rates, roaming rates and the mix of products and services offered in the Company's markets. Investors are encouraged to consider these and other risks and uncertainties that are discussed in documents filed by the Company with the Securities and Exchange Commission. ### 2 EX-99.2 6 a2092410zex-99_2.txt EX-99.2 EXHIBIT 99.2 NOTE REPURCHASE AGREEMENT NOTE REPURCHASE AGREEMENT, dated as of October 28, 2002, by and among UNITED STATES CELLULAR CORPORATION, a Delaware corporation (the "COMPANY"), PRIMECO WIRELESS COMMUNICATIONS LLC, a Delaware limited liability company ("PRIMECO"), and the direct or indirect PrimeCo transferees identified on the signature pages hereto (referred to herein as "PRIMECO TRANSFEREES"). RECITALS WHEREAS, pursuant to a Note Purchase Agreement dated August 7, 2002, between the Company and PrimeCo, on August 7, 2002, the Company issued 9% Series A Notes due 2032 ("SERIES A NOTES") having an aggregate principal amount of $175,000,000; WHEREAS, the Series A Notes were issued under the Indenture, dated as of June 1, 2002 ("BASE INDENTURE"), as supplemented by the First Supplemental Indenture dated as of August 7, 2002 ("FIRST SUPPLEMENTAL INDENTURE" and, together with the Base Indenture, the "INDENTURE"), between U.S. Cellular and BNY Midwest Trust Company, an Illinois Trust Company, as Trustee ("TRUSTEE"); WHEREAS, Series A Notes having an aggregate principal amount of $114,285,000 were issued to PrimeCo, and Series A Notes having an aggregate principal amount of $60,715,000 were issued to LaSalle Bank National Association, as Escrow Agent for United States Cellular Corporation/PrimeCo Wireless Communications LLC (in its capacity as escrow agent, the "ESCROW AGENT") pursuant to an Escrow Agreement ("ESCROW AGREEMENT"), dated as of August 7, 2002, among the Company, PrimeCo and the Escrow Agent, for the purpose of, among other things, securing the indemnity obligations of PrimeCo to the Company under the Purchase and Sale Agreement dated as of May 9, 2002, as amended as of August 7, 2002, between the Company and PrimeCo (the "PURCHASE AND SALE Agreement"); WHEREAS, in connection with the sale of the Series A Notes to PrimeCo, the Company entered into a Registration Rights Agreement ("REGISTRATION RIGHTS AGREEMENT") with PrimeCo, dated as of August 7, 2002, pursuant to which the Company granted PrimeCo and the PrimeCo Transferees rights to require the Company to take certain action to register the reoffer and resale of the Series A Notes under the Securities Act; WHEREAS, on August 7, 2002, the Company received a request from PrimeCo under the Registration Rights Agreement to register Series A Notes for reoffer and resale by PrimeCo and the PrimeCo Transferees; WHEREAS, pursuant to such request, on August 29, 2002, the Company filed with the Securities and Exchange Commission ("SEC") a Registration Statement on Form S-3 (No. 333-98921) relating to the resale of the Series A Notes ("RESALE S-3"), which registration statement, as amended, was declared effective by the SEC on October 24, 2002; WHEREAS, PrimeCo distributed, directly or indirectly, a portion of the principal amount of the Series A Notes to the PrimeCo Transferees (PrimeCo and the PrimeCo Transferees are collectively referred to as the "PRIMECO HOLDERS"); WHEREAS, the Series A Notes are currently represented by individual certificated notes ("CERTIFICATED NOTES") registered in the name of the PrimeCo Holders and the Escrow Agent; WHEREAS, on May 15, 2002, the Company filed a shelf Registration Statement on Form S-3 (No. 333-88344) relating to the offer and sale of debt securities by the Company from time to time, which registration statement was declared effective by the SEC on May 28, 2002 (the "PRIMARY S-3"); WHEREAS, PrimeCo, on behalf of the other PrimeCo Holders, requested the Company to consider a proposal pursuant to which the Company would publicly offer and sell debt securities under the Primary S-3, and use up to $175,000,000 of the proceeds thereof to repurchase the Series A Notes from the PrimeCo Holders and the Escrow Agent; and WHEREAS, the Company is willing to publicly offer and sell debt securities under the Primary S-3 and use up to $175,000,000 of the net proceeds thereof to repurchase Series A Notes from the PrimeCo Holders and the Escrow Agent pursuant to the terms and conditions hereinafter set forth; NOW, THEREFORE, in consideration of the mutual agreements of the parties hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. DEFINITIONS; INTERPRETATION Certain capitalized terms used in this Agreement are defined in Exhibit A. All other capitalized terms used but not defined herein shall have the meanings set forth in the Registration Rights Agreement. 2. PRIMARY OFFERING (a) In the sole discretion of the Company, the Company will attempt to issue debt ("PRIMARY DEBT") in a public offering under the Primary S-3 between October 28 and November 9, 2002 (unless extended by mutual consent of the parties hereto), subject to the following terms and conditions (the "PRIMARY OFFERING"). (b) The Company, in its sole discretion, will determine all terms and conditions of the Primary Offering and the Primary Debt, including without limitation (a) the principal amount of the Primary Debt to be issued, offered and sold, (b) the interest rate and other terms of the Primary Debt, including pricing, maturity, redemption and other terms, (c) the timing of the issuance, offering, sale and closing, (d) the underwriters, (e) the terms and conditions of any underwriting agreement, and (f) whether or not any Primary Debt should be issued, offered, sold and closed considering market conditions and any other factors. 2 (c) The first $175,000,000 of the net proceeds to the Company from the Primary Offering ("NET PROCEEDS") will be used by the Company to repurchase Series A Notes from the PrimeCo Holders and the Escrow Agent pursuant to the terms set forth below. 3. PURCHASE OF NOTES (a) Subject to the terms and conditions of this Agreement, at the Closing (as defined below), the Company will purchase from the Escrow Agent and/or each PrimeCo Holder, and the Escrow Agent and/or each PrimeCo Holder will sell to the Company, Series A Notes at the purchase price per note of (i) 100% of the principal amount thereof, plus (ii) accrued but unpaid interest, if any, relating to the principal amount purchased, from and including the Interest Payment Date (as defined in the Indenture) to and including the business day immediately preceding the Closing Date, but not including the Closing Date, less (iii) in the case of the PrimeCo Holders but not the Escrow Agent, the Reimbursable Expenses (as defined below) based on the percentages set forth on Exhibit B (the "REPURCHASE PRICE"). (b) If the Net Proceeds are at least $175,000,000, the Company shall purchase all of the aggregate principal amount of the Series A Notes from the PrimeCo Holders and the Escrow Agent in the amounts set forth opposite their names on Exhibit B hereto. (c) If the Net Proceeds are at least $114,285,000 but less than $175,000,000, the Company shall purchase all of the principal amount of the Series A Notes from the PrimeCo Holders in the amounts set forth opposite their names on Exhibit B hereto, and shall purchase from the Escrow Agent an aggregate principal amount of the Series A Notes equal to the amount by which the Net Proceeds exceed $114,285,000 in each case, rounded to the nearest $25.00; provided, that the Company may elect, in its sole discretion, to purchase for cash at the Repurchase Price but not including any deduction for Reimbursable Expenses, any or all of the remaining balance of the Series A Notes held by the Escrow Agent. If any Series A Notes are purchased from the Escrow Agent, an amount of cash equal to the aggregate principal amount of the Series A Notes purchased from the Escrow Agent shall be retained in escrow pursuant to the terms of the Escrow Agreement and amount of cash equal to any accrued interest portion of the Repurchase Price shall be delivered to PrimeCo. (d) If the Net Proceeds are less than $114,285,000, the Company shall purchase from the PrimeCo Holders the principal amount of Series A Notes equal to the product of the Net Proceeds and the percentages set forth opposite their names on Exhibit B hereto in each case, rounded to the nearest $25.00, not to exceed the Net Proceeds in the aggregate. (e) Any Series A Notes purchased under paragraphs (a) through (d) are hereinafter referred to herein as the "REPURCHASED NOTES." (f) Delivery of and payment for the Repurchased Notes (the "CLOSING") shall be made on the third business day following the closing of the Primary Offering, or at such time on such later date as the Company and PrimeCo shall agree to (such date and time of delivery and payment for the Repurchased Notes being referred to herein as the "CLOSING DATE"). (g) If the Company purchases any principal amount of Series A Notes from the PrimeCo Holders, delivery of the Certificated Notes to be purchased shall be made on the 3 Closing Date by PrimeCo on behalf of itself and for the respective accounts of the several PrimeCo Transferees against payment by the Company of the Repurchase Price thereof, by wire transfer payable in same-day funds to the accounts of the PrimeCo Holders as specified by PrimeCo. On the Closing Date, PrimeCo shall deliver the Certificated Notes together with Assignment Forms (as defined below) executed in blank by each of the PrimeCo Holders. (h) If the Company purchases any principal amount of Series A Notes from the Escrow Agent, the Company and PrimeCo shall deliver Joint Instructions (as defined in the Escrow Agreement) to the Escrow Agent to instruct the Escrow Agent to deliver on the Closing Date any Series A Notes to be purchased by the Company in consideration for the Repurchase Price for such notes pursuant to this Section 3. (i) If less than the aggregate principal amount represented by any Certificated Note is to be purchased, the Company shall issue and instruct the Trustee to authenticate certificated notes in an amount equal to the difference between the principal amount of the Certificated Note less the principal amount of such Certificated Note purchased by the Company ("UNPURCHASED NOTES"), and on the Closing Date shall deliver such certificated notes representing the Unpurchased Notes to or as instructed by PrimeCo or the Escrow Agent, as the case may be. (j) Each PrimeCo Holder agrees to deliver to the Company such other documentation as the Company may reasonably request in order to effectuate any of the provisions hereof, which shall be in form and substance reasonably satisfactory in all respects to the Company. 4. OTHER AGREEMENTS 4.1. EXPENSES. (a) The PrimeCo Holders shall bear and pay and the Company shall have no responsibility for any and all fees and expenses of counsel for the PrimeCo Holders, whether incurred in connection with the Primary Offering or otherwise. The PrimeCo Holders shall reimburse to the Company all reasonable expenses incurred in connection with the Primary Offering, including all filing (other than any SEC registration fees) and National Association of Securities Dealers, Inc. fees, all rating agency fees, stock exchange listing fees, all fees and expenses of complying with securities or blue sky laws (including fees and expenses of underwriters counsel), all word processing, duplicating and printing expenses, messenger and delivery expenses, and of the Company's independent public accountants, including the expenses of "cold comfort" letters required by or incident to the Primary Offering, any fees and disbursements of underwriters, and including all underwriting discounts and commissions relating to the Primary Offering ("REIMBURSABLE EXPENSES"), which shall be reimbursed on a pro rata basis by the PrimeCo Holders based on the percentages set forth on Exhibit B; provided that the Company shall pay all costs and expenses that the Company determines to incur on its own behalf in its sole discretion, including (i) the fees and expenses of the Trustee under the Indenture and counsel retained by the Trustee, (ii) the fees and expenses of counsel to the Company and (iii) any underwriting discounts and commissions directly related to the sale of more than $175,000,000 of debt by the Company in the Primary Offering; PROVIDED, FURTHER, that 4 the Reimbursable Expenses with respect to the purchase of Series A Notes from the Escrow Agent may be reimbursed to the Company by PrimeCo. The fees and expenses of the Escrow Agent shall be paid as provided in the Escrow Agreement. (b) The Reimbursable Expenses will be treated by the Company and the PrimeCo Holders as a reduction in the purchase price for Chicago 20MHz, LLC under the Purchase and Sale Agreement. 4.2. WITHDRAWAL OR AMENDMENT OF RESALE S-3. (a) If the Company acquires all of the Series A Notes, the PrimeCo Holders agree that the Company shall file with the SEC a request to withdraw the Resale S-3 pursuant to Rule 477 of the Securities Act. (b) If the Company acquires some but not all of the Series A Notes, the PrimeCo Holders agree that the Company shall use commercially reasonable efforts to file with the SEC within 15 days from the Closing Date a post-effective amendment to the Resale S-3 to remove the Series A Notes purchased therefrom and to update and disclose such information therein as may be necessary or appropriate in order to keep the Resale S-3 current and effective. 4.3. REGISTRATION RIGHTS AGREEMENT (a) The PrimeCo Holders agree, during the term of this Agreement, not to take any action under the Registration Rights Agreement that is inconsistent with the terms of this Agreement, including not to: (i) Transfer any Series A Notes except to the Company pursuant to this Agreement; (ii) request the Company to file a Shelf Prospectus Supplement with respect to a takedown from the Resale S-3; or (iii) request the Company to file a Demand Registration Statement. (b) If the Company completes a Primary Offering but does not acquire 100% of the Series A Notes, the PrimeCo Holders shall not effect any public sale or distribution of Series A Notes, including a sale pursuant to Rule 144 or Rule 144A under the Securities Act, during such period ("Lock-up Period") following the completion of the Primary Offering as may be reasonably requested in writing to PrimeCo by the Underwriters' Representative for the Primary Offering ("LOCK-UP AGREEMENT"), which Lock-up Agreement shall be in usual and customary form. In order to enforce the foregoing covenant, the Company shall be entitled to impose stop-transfer instructions with respect to the Series A Notes of each PrimeCo Holder until the end of the Lock-up Period. The PrimeCo Holders shall have the right to make a request that the Company file a Shelf Prospectus Supplement to effect a takedown under the Resale S-3 or Demand Registration with respect to the Unpurchased Notes under the terms of the Registration Rights Agreement, subject to the expiration of any Lock-up Period required by the Underwriters' 5 Representative as provided in this Section 4.3(b) and subject to the Company's right to delay such registration statement or prospectus supplement for up to 120 days pursuant to the terms of the Registration Rights Agreement. (c) In the event that the Company does not commence a Primary Offering prior to November 9, 2002 (unless such date is extended by mutual agreement of the parties hereto), the PrimeCo Holders shall be permitted to request that the Company file (i) a Shelf Prospectus Supplement to effect a takedown under the Resale S-3 provided that the closing of any such takedown occurs on or prior to December 14, 2002 or (ii) a Demand Registration provided that the closing of an offering pursuant to the Demand Registration occurs on or prior to December 14, 2002. If any such closing does not occur on or prior to December 14, 2002, the Company shall be permitted to delay any such requests for up to 120 days pursuant to the terms of the Registration Rights Agreement. 5. CONDITIONS TO CLOSING The obligation of the Company to purchase and pay for the Series A Notes with respect to each PrimeCo Holder severally and not jointly at the Closing is subject to the fulfillment to the Company's satisfaction, prior to or at the Closing, of the following conditions, it being understood that the failure on the part of any one or more PrimeCo Holders ("FAILING PRIMECO HOLDERS") to fulfill to the Company's satisfaction, prior to or at the Closing, the conditions of this Section 5 shall not in any way affect the Company's obligation, subject to the fulfillment to the Company's satisfaction, prior to or at the Closing, of the conditions of this Section 5 by each non-Failing PrimeCo Holder, to purchase and pay for Series A Notes of each such non-Failing PrimeCo Holder: 5.1. REPRESENTATIONS AND WARRANTIES. The representations and warranties of the PrimeCo Holders in this Agreement shall be correct when made and at the time of the Closing. 5.2. PERFORMANCE. The PrimeCo Holders shall have performed and complied with all agreements and conditions contained in this Agreement that are required to be performed or complied with by them prior to or at the Closing. 5.3. CLOSING OF PRIMARY OFFERING. The Primary Offering shall have been consummated and the Company shall have received the net proceeds of such offering. 5.4. LOCK-UP AGREEMENT. If requested by the Underwriters' Representatives, each PrimeCo Holder or an Attorney-in-Fact thereof shall have executed and delivered a Lock-up Agreement prior to or at the Closing in form and substance reasonably satisfactory in all respects to the Underwriters' Representative and the Company. 6 6. REPRESENTATIONS AND WARRANTIES OF THE COMPANY The Company represents and warrants to you that: 6.1. ORGANIZATION; POWER AND AUTHORITY. The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as would not individually or in the aggregate reasonably be expected to have a Material Adverse Effect, the Company has the corporate power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact. The Company has the corporate power and authority to execute and deliver this Agreement and to perform the provisions hereof. 6.2. AUTHORIZATION, ETC. This Agreement has been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 6.3. COMPLIANCE WITH LAWS, OTHER INSTRUMENTS, ETC. Except as would not, individually or in the aggregate reasonably be expected to have a Material Adverse Effect, the execution, delivery and performance by the Company of this Agreement will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which the Company is bound or by which the Company or any of its properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company. 6.4. GOVERNMENTAL AUTHORIZATIONS, ETC. Except as has been obtained or made, or would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, no consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Company of this Agreement. 7 7. REPRESENTATIONS AND WARRANTIES OF THE PRIMECO HOLDERS Each of the PrimeCo Holders severally and not jointly and with respect to itself only represents and warrants to the Company that: 7.1. ORGANIZATION; POWER AND AUTHORITY. (a) If such PrimeCo Holder is an entity, that such PrimeCo Holder is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization or formation, and is duly qualified and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each such PrimeCo Holder that is an entity has the requisite power and authority to execute and deliver this Agreement and to perform the provisions hereof. (b) If such PrimeCo Holder is an individual, such PrimeCo Holder has full legal capacity and the requisite power and authority to execute and deliver this Agreement and to perform the provisions hereof. 7.2. AUTHORIZATION, ETC. This Agreement been duly authorized by all necessary action on the part of each PrimeCo Holder that is an entity, and this Agreement constitutes a legal, valid and binding obligation of each PrimeCo Holder enforceable against such PrimeCo Holder in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors' rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law). 7.3. COMPLIANCE WITH LAWS, OTHER INSTRUMENTS, ETC. Except as would not, individually or in the aggregate reasonably be expected to have a Material Adverse Effect, the execution, delivery and performance by such PrimeCo Holder of this Agreement will not (i) constitute a default under, or result in the creation of any Lien in respect of any property of such PrimeCo Holder under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other agreement or instrument to which PrimeCo is bound or by which PrimeCo or any of its or his respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to such PrimeCo Holder or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to such PrimeCo Holder. 7.4. GOVERNMENTAL AUTHORIZATIONS, ETC. Except as has been obtained or made, or would not, individually or in the aggregate reasonably be expected to have a Material Adverse Effect, no consent, approval or 8 authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by such PrimeCo Holder of this Agreement. 7.5. RECEIPT OF CERTAIN INFORMATION. Such PrimeCo Holder has received all relevant information as it deems necessary in order to permit an investment decision with respect to the sale of the Certificated Notes. 7.6. ACCREDITED INVESTOR. Each Person who has the right to make, or has made or will make a decision with respect to the sale of the Series A Notes by the Selling Noteholder is an Accredited Investor (as defined in Regulation D under the Securities Act), and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits of the decision to sell the Certificated Notes to the Company. 7.7. ARMS-LENGTH NEGOTIATED TRANSACTION REQUESTED BY PRIMECO. Such PrimeCo Holder acknowledges that (i) PrimeCo requested the Company to consider a repurchase of the Series A Notes from the PrimeCo Holders, (ii) the Company did not solicit or attempt to influence in any way the decision of such PrimeCo Holder with respect thereto and (iii) the terms of the transactions contemplated by this Agreement have been negotiated at arms-length between the representatives of such PrimeCo Holders and the representatives of the Company. 7.8. GOOD TITLE; NO LIENS. Such PrimeCo Holder has, and upon the Closing, the Company shall acquire, good and marketable title to the Repurchased Notes delivered to the Company by such PrimeCo Holder hereunder, free and clear of all liens, security interests, claims and other encumbrances. 7.9. EFFECT OF POWER OF ATTORNEY. (a) Upon execution and delivery of any agreement, instrument, document or certificate contemplated hereby by an Attorney-in-Fact (as defined below) on behalf of such PrimeCo Holder, the PrimeCo Holder agrees to be bound by and to perform each of the covenants and agreements of such PrimeCo Holder of each such agreement, instrument, document or certificate contemplated thereby. 8. POWER OF ATTORNEY AND CUSTODY AGREEMENT 8.1. POWER OF ATTORNEY. (a) Each PrimeCo Holder hereby irrevocably constitutes and appoints W. Jack Kessler, Jr. and Steven L. Greenberg, or either of them, as its or his agents and attorneys-in-fact (either or both of them the "Attorneys-in-Facts"), with full power and authority to act, including full power of substitution, with respect to all matters arising in connection with this Agreement 9 and the transactions contemplated hereby, including, but not limited to, the power and authority on behalf of such PrimeCo Transferee to do or cause to be done any of the following things: (i) negotiate, and perform this Agreement and any amendments thereto, including such insertions, changes, additions or deletions as the Attorneys-in-Fact shall approve, such approval to be conclusively evidenced by the execution and delivery of any amendment to this Agreement or any instrument, agreement or document contemplated hereby by the Attorneys-in-Fact; (ii) sell, assign, transfer and deliver for cancellation and exchange, if applicable, pursuant to this Agreement and any instrument, agreement or document contemplated thereby any and all Certificated Notes and the Assignment Form; (iii) take any and all steps and execute and perform any and all other agreements, instruments and documents deemed necessary or desirable by the Attorneys-in-Fact in connection with this Agreement and give or make such undertakings, representations and agreements and take such other steps on behalf of such PrimeCo Holder as the Attorneys-in-Fact may deem necessary or advisable; (iv) instruct all other parties on behalf of such PrimeCo Holder on all matters pertaining to this Agreement and the transactions contemplated hereby; (v) take all actions and do all things necessary or proper, required, contemplated or deemed advisable by the Attorneys-in-Fact under any instrument, agreement or document contemplated by this Agreement, including, but not limited to, waiving prior defaults or existing rights and delivering any consents required under this Agreement or such instruments, agreements and documents; (vi) otherwise take all actions and do all things necessary or proper, required, contemplated or deemed advisable or desirable by the Attorneys-in-Fact in its or their sole discretion, including the execution, delivery and performance of any documents, instruments and agreements and generally act for and in the name of such PrimeCo Holder with respect to this Agreement and all related matters as fully as could such PrimeCo Holder if then personally present and acting; and 10 (vii) accept consideration payable to such PrimeCo Holder under this Agreement, to give receipt for such consideration and remit or authorize the Custodian to remit such consideration to such PrimeCo Holder. (b) The Attorneys-in-Fact are hereby empowered to determine, in its or their sole and absolute discretion, the time or times when, the purposes for which, and the manner in which, any power herein conferred upon the Attorneys-in-Fact shall be exercised. (c) The Custodian, the Company and any other persons dealing with the Attorneys-in-Fact as such may rely and act upon any writing believed in good faith to be signed by one or more Attorneys-in-Fact. (d) Each PrimeCo Holder understands that the Attorneys-in-Fact assume no responsibility or liability to the PrimeCo Holders or any other person (except for liability for their gross negligence or willful misconduct), other than in connection with the responsibilities delegated to the Attorneys-in-Fact under this Section 8.1, and each PrimeCo Holder, severally and not jointly, agrees to indemnify and hold harmless the Attorneys-in-Fact and their respective officers, agents, successors and assigns and personal representatives, with respect to any act or omission of or done by the Attorneys-in-Fact in good faith in connection and in accordance with this Agreement and the instructions of this Section 8.1. 8.2. APPOINTMENT OF CUSTODIAN; DEPOSIT OF SHARES. (a) In connection with the transactions contemplated by this Agreement, each PrimeCo Holder hereby appoints PrimeCo as custodian (the "CUSTODIAN") and hereby deposits or shall promptly deposit (but in any event, no later than four business days after the date hereof), with the Custodian, each Certificated Note held by such PrimeCo Holder, accompanied by a duly executed Assignment Form in the form attached to the Certificated Notes ("ASSIGNMENT FORM" and, together with such Certificated Notes, the "INSTRUMENTS"), undated and executed in blank and bearing the signature of such PrimeCo Holder or a duly authorized representative thereof. Each PrimeCo Holder represents and warrants to the Attorneys-in-Fact and the Custodian that each such Certificated Note so deposited is in negotiable and proper deliverable form. The Custodian is hereby authorized and directed subject to the instructions of the Attorneys-in-Fact: (i) to hold in custody the Instruments deposited hereby, and (ii) at the direction of the Attorneys-in-Fact to deliver the Instruments in accordance with the terms of this Agreement. (b) Until the Instruments have been delivered against payment therefor in accordance with this Agreement, each PrimeCo Holder shall retain all rights of ownership with respect to the Instruments deposited hereunder, including the right to vote and to receive all interest or other payment thereon. (c) Each PrimeCo Holder understands that the Custodian assumes no responsibility or liability to the PrimeCo Holders or any other person (except for liability for its gross negligence or willful misconduct), other than in connection with the responsibilities delegated to the Custodian under this Section 8.2, and each PrimeCo Holder, severally and not 11 jointly, agrees to indemnify and hold harmless the Custodian and its respective officers, agents, successors and assigns and personal representatives, with respect to any act or omission of or done by the Custodian in good faith in connection and in accordance with this Agreement and the instructions of this Section 8.2. 8.3. IRREVOCABILITY. (a) The foregoing power of attorney, custody appointment, deposit of Instruments pursuant hereto and all authority hereby conferred, is granted, made and conferred subject to and in consideration of and for the purpose of completing the transactions contemplated by this Agreement and each agreement, instrument, document or certificate contemplated hereby, and, in connection herewith, each of the Attorneys-in-Fact and the Custodian is hereby further vested with an estate, right, title and interest in and to the Instruments deposited herewith for the purpose of irrevocably empowering and securing to it authority sufficient to consummate the transactions contemplated by such agreements. Accordingly, the agreements contained in Section 8.1 and 8.2 shall be irrevocable prior to the termination of this Agreement in accordance with Section 11 and shall remain in full force and effect until such time. The undersigned further agrees that the agreements contained in Sections 8.1 and 8.2 shall not be terminated by operation of law or upon the occurrence of any event whatsoever, including death, disability, incompetence, dissolution, winding up, distribution of assets or other event affecting legal existence of any PrimeCo Holder, PrimeCo or any other person, including but not limited to any executor, personal representative or trustee of any of the foregoing. If any event referred to in the preceding sentence shall occur, whether with or without notice thereof to the Custodian or the Attorneys-in-Fact, the Custodian and the Attorneys-in-Fact shall nevertheless be authorized and empowered to deliver in accordance with the terms and provisions of the agreements contained in Sections 8.1 and 8.2 and each agreement, instrument, document or certificate contemplated hereby and the Instruments held by the Custodian with respect to such PrimeCo Holder, and provide for the distribution of the proceeds therefrom as if such event has not occurred. (b) Notwithstanding anything to the contrary contained in the immediately preceding paragraph above, if this Agreement is terminated in accordance with Section 11.11 the Custodian shall return promptly to each PrimeCo Holder all Instruments deposited hereunder. 9. SURVIVAL OF REPRESENTATIONS AND WARRANTIES All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the purchase by the Company of the Repurchased Notes. All statements contained in any certificate or other instrument delivered by or on behalf of a party pursuant to this Agreement shall be deemed representations and warranties of such party under this Agreement. 10. NOTICES All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail 12 with return receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with charges prepaid). Any such notice must be sent: (i) if to the Company, as follows, or at such other address as the Company shall have specified in writing: United States Cellular Corporation c/o Telephone and Data Systems, Inc. 30 North LaSalle Street, 40th Floor Chicago, Illinois 60602 Attn: Peter L. Sereda Fax: 312-630-1908 With a required copy to: United States Cellular Corporation 8410 West Bryn Mawr Avenue Chicago, Illinois 60631 Attention: Kenneth R. Meyers Facsimile Number: (773) 399-8959 With a required copy to: Sidley Austin Brown & Wood 10 South Dearborn St. Chicago, Illinois 60603 Attention: William S. DeCarlo, Esq. Facsimile Number: (312) 853-7036 (ii) if to the PrimeCo Holders, to PrimeCo as follows, or at such other address as PrimeCo shall have specified in writing: PrimeCo Wireless Communications LLC c/o Clarity Partners, L.P. 100 North Crescent Drive Beverly Hills, CA 90210 Attn: Barry Porter Fax: 310-432-5000 With a required copy to: Simpson Thacher & Bartlett 425 Lexington Avenue New York, NY 10017 Attention: William E. Curbow, Esq. 13 Facsimile Number: (212) 455-2502 With a required copy to: Simpson Thacher & Bartlett 425 Lexington Avenue New York, NY 10017 Attention: Rise B. Norman, Esq. Facsimile Number: (212) 455-2502 Notices under this Section 10 will be deemed given only when actually received. 11. MISCELLANEOUS 11.1. SUCCESSORS AND ASSIGNS. All covenants and other agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns. This Agreement may not be assigned by any PrimeCo Holder without the written consent of the Company or by the Company without the written consent of PrimeCo. 11.2. AMENDMENT; WAIVER. (a) This Agreement shall not be amended or modified except by written instrument duly executed by each of the parties hereto which, in the case of the Company, shall require the signature of the Chairman of the Company or other person so authorized by the Chairman of the Company or the Company's Board of Directors. (b) No waiver of any terms or conditions of this Agreement shall operate as a waiver of any other breach of such terms and conditions or any other term or condition, nor shall any failure to enforce any provision hereof operate as a waiver of such provision or of any other provision hereof. No written waiver hereunder, unless it by its own terms explicitly provides to the contrary, shall be construed to effect a continuing waiver of the provisions being waived and no such waiver in any instance shall constitute a waiver in any other instance or for any other purpose or impair the right of the party against whom such waiver is claimed in all other instances or for all other purposes to require full compliance with such provision. (c) No amendment or waiver will extend to or affect any obligation, covenant, or agreement not expressly amended or waived or impair any right consequent thereon. As used herein, the term "THIS AGREEMENT" and references thereto shall mean this Agreement as it may from time to time be amended or supplemented. 11.3. SEVERABILITY. Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition 14 or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 11.4. CONSTRUCTION. Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person. 11.5. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument. Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto. 11.6. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to such State's laws and principles regarding the conflict of laws. 11.7. INTERPRETATION (a) References to a Person are also references to its assigns and successors in interest (by means of merger, consolidation or sale of all or substantially all the assets of such Person or otherwise, as the case may be). (b) References to Series A Notes "owned" by a Person shall include Series A Notes beneficially owned by such Person but which are held of record in the name of a nominee, trustee, custodian, or other agent. (c) References to a document are to it as amended, waived and otherwise modified from time to time and references to a statute or other governmental rule are to it as amended and otherwise modified from time to time (and references to any provision thereof shall include references to any successor provision). (d) References to Sections or to Schedules or Exhibits are to sections hereof or schedules or exhibits hereto, unless the context otherwise requires. (e) The definitions set forth herein are equally applicable both to the singular and plural forms and the feminine, masculine and neuter forms of the terms defined. (f) The term "including" and correlative terms shall be deemed to be followed by "without limitation" whether or not followed by such words or words of like import. (g) The term "hereof" and similar terms refer to this Agreement as a whole. 15 11.8. CONSENT TO JURISDICTION. Each of the Parties hereto (a) consents to submit itself to the personal jurisdiction of any Federal court located in the State of Delaware or any Delaware state court in connection with any dispute that arises out of this Agreement or any of the transactions contemplated by this Agreement, (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (c) agrees that it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than a Federal court sitting in the State of Delaware or a Delaware state court unless venue would not be proper under rules applicable in such courts. Each of the Parties agrees that service of process by which any action is begun in any court referred to in this Section 11 shall be effective if notice is delivered in accordance with Section 10 and hereby irrevocably and unconditionally waives any objection to the validity and effectiveness of such service of process. Nothing contained herein shall affect the right of the Parties to serve process in any other manner permitted by law. 11.9. ATTORNEYS' FEES. In any action or proceeding brought to enforce any provision of this Agreement, or where any provision hereof is validly asserted as a defense, the successful party shall be entitled to recover reasonable attorneys' fees (including any fees incurred in any appeal) in addition to its costs and expenses and any other available remedy. 11.10. NO THIRD PARTY BENEFICIARIES. Nothing herein expressed or implied is intended to confer upon any Person, other than the parties hereto or their respective permitted assigns, successors, heirs and legal representatives, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 11.11. TERMINATION. This Agreement may be terminated at any time by a written instrument signed by the parties hereto. Unless sooner terminated in accordance with the preceding sentence, this Agreement (other than Sections 4.3(b), 4.3(c), 10 and 11 hereof) shall terminate in its entirety on the earlier of (unless such date is extended by mutual agreement of the parties): (i) the date that the Company delivers written notice to PrimeCo to the effect that it is abandoning its efforts to commence a Primary Offering prior to November 9, 2002, (ii) November 9, 2002 if the Company has not commenced a Primary Offering prior to such date or (iii) November 23, 2002 if the Company has commenced a Primary Offering prior to November 9, 2002 but the closing thereof has not occurred by November 23, 2002. * * * * * 16 IN WITNESS WHEREOF, the Parties have executed this Agreement to be effective as of the date first above written. UNITED STATES CELLULAR CORPORATION By: ---------------------------------------------- Name: LeRoy T. Carlson, Jr. Title: Chairman By: ---------------------------------------------- Name: Kenneth R. Meyers Title: Executive Vice President-Finance (Chief Financial Officer) and Treasurer PRIMECO WIRELESS COMMUNICATIONS LLC By: ---------------------------------------------- Name: W. Jack Kessler Title: Chief Financial Officer CLARITY PARTNERS, L.P. By: Clarity GenPar, LLC its General Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member CLARITY PRIMECO HOLDINGS L.L.C. By: Clarity Partners, L.P. its Manager By: Clarity GenPar, LLC its General Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member PAGE 1 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT CLARITY ADVISORS, L.P. By: Clarity GenPar, LLC its General Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member CLARITY ASSOCIATES, L.P. By: Clarity GenPar, LLC its General Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member CLARITY PRIMECO GP By: Clarity GenPar, LLC its Managing Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member CLARITY MANAGEMENT, L.P. By: Clarity Management, LLC its General Partner By: ---------------------------------------------- Name: R. Rudolph Reinfrank Title: Managing Member GREEN LEAF RIDGE ACQUISITION COMPANY III, L.L.C. By: ---------------------------------------------- Name: Percy L. Berger, Sr. Title: President PAGE 2 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT GREEN LEAF RIDGE ACQUISITION COMPANY IV, L.L.C. By: ---------------------------------------------- Name: Percy L. Berger, Sr. Title: President GREEN LEAF CONTINENTAL, LLC By: ---------------------------------------------- Name: Title: Vice Chairman/Manager PRIMECO VENTURE INVESTORS/GREEN LEAF LLC By: SYNCOM PRIMECO IBC Managing Member By: ---------------------------------------------- Name: Title: TREGAN PARTNERS II, LP By: TPGP, LP By: TPGP, LLC By: ---------------------------------------------- Name: Title: TREGAN PRIMECO, LP By: TREGAN PRIMECO GP, LLC By: ---------------------------------------------- Name: Title: PAGE 3 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT PCG CHICAGO PCS, LLC By PCG TAGI (SERIES F), LLC its sole member By: PACIFIC CAPITAL GROUP, INC. its Manager By: ---------------------------------------------- Name: Gregg w. Ritchie Title: Managing Director and Chief Financial Officer PS WIRELESS LLC By: GREENSTREET MANAGEMENT, INC., as Manager By: ---------------------------------------------- Name: Jeffrey A. Safchik Title: President GREENSTREET CAPITAL, LP By: GREENSTREET MANAGEMENT, INC., as General Partner By: ---------------------------------------------- Name: Jeffrey A. Safchik Title: President J.P. MORGAN PARTNERS (BHCA), L.P. By: JPMP MASTER FUND MANAGER, L.P. its General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: PAGE 4 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT J.P. MORGAN PARTNERS GLOBAL INVESTORS, L.P. By: JPMP GLOBAL INVESTORS, L.P. a General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: J.P. MORGAN PARTNERS GLOBAL INVESTORS (CAYMAN), L.P. By: JPMP GLOBAL INVESTORS, L.P. its General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: TRIMARAN CHICAGO PARTNERS, LLC By: TRIMARAN FUND MANAGEMENT, LLC its Investment Manager By: ---------------------------------------------- Name: Title: J & J INVESTMENTS, INC. By: ---------------------------------------------- Name: John M. Scanlon Title: President PAGE 5 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT ---------------------------------------------- Patrick Joggerst J.P. MORGAN PARTNERS GLOBAL INVESTORS (CAYMAN) II, L.P. By: JPMP GLOBAL INVESTORS, L.P. a General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: J.P. MORGAN PARTNERS GLOBAL INVESTORS A, L.P. By: JPMP GLOBAL INVESTORS, L.P. a General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: J.P. MORGAN PARTNERS INVESTORS (CAYMAN) V, L.P. By: JPMP GLOBAL INVESTORS, L.P. a General Partner By: JPMP CAPITAL CORP. its General Partner By: ---------------------------------------------- Name: Title: PAGE 6 OF SIGNATURE PAGE TO NOTE REPURCHASE AGREEMENT
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