Common use of Expansion of Service Area Clause in Contracts

Expansion of Service Area. Sprint PCS and Manager agree that Manager will develop the BTAs set forth above in addition to the prior committed build out of Manager in the following BTAs: Bloomington, IL (BTA #46) Champaign-Urbana, IL (BTA #71) Clinton, IA-Sterling, IL (BTA #86) Danville, IL (BTA #103) Davenport, IA-Moline, IL (BTA #105) Decatur-Effingham, IL (BTA #109) Galesburg, IL (BTA #161) Jacksonville, IL (BTA #213) Kankakee, IL (BTA #225) LaSalle-Peru-Ottawa-Streator, IL (BTA #243) Mattoon, IL (BTA #286) Mt. Vernon-Centralia, IL (BTA #308) Peoria, IL (BTA #344) Springfield, IL (BTA #426) St Louis (BTA #394 Macoupin County, IL only) (the combined new areas being called the "New Service Area" and the prior committed build out being called the "Original Service Area"). Manager and Sprint PCS agree that, subject to certain financing conditions as set forth below in Section 2 of this Addendum, the Service Area is expanded to include all, but not less than all, of the New Service Area. case of an IPO of the Issuer's sole outstanding class of equity, the warrant shares will represent two percent (2%) of the outstanding shares of the Issuer at the time of the IPO. The purchase price for the shares under the warrant agreement will be equal to 90% of the value of such shares. In the event of an IPO or a Private Placement the value of the shares will be equal to the issuance price of the shares. The value of the shares will be determined by the appraisal process set forth on Exhibit B if the warrant agreement is entered into prior to --------- an IPO or Private Placement.

Appears in 3 contracts

Samples: Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc), Management Agreement (Ipcs Equipment Inc)

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Expansion of Service Area. Sprint PCS and Manager agree that Manager will develop the BTAs set forth above in addition to the prior committed build out of Manager in the following BTAs: Bloomington, IL (BTA #46) Champaign-Urbana, IL (BTA #71) Clinton, IA-Sterling, IL (BTA #86) Danville, IL (BTA #103) Davenport, IA-Moline, IL (BTA #105) Decatur-Effingham, IL (BTA #109) Galesburg, IL (BTA #161) Jacksonville, IL (BTA #213) Kankakee, IL (BTA #225) LaSalle-Peru-Ottawa-Streator, IL (BTA #243) Mattoon, IL (BTA #286) Mt. VernonXxxxxx-Centralia, IL (BTA #308) Peoria, IL (BTA #344) Springfield, IL (BTA #426) St Louis (BTA #394 Macoupin County, IL only) (the combined new areas being called the "New Service Area" and the prior committed build out being called the "Original Service Area"). Manager and Sprint PCS agree that, subject to certain financing conditions as set forth below in Section 2 of this Addendum, the Service Area is expanded to include all, but not less than all, of the New Service Area. case of an IPO of the Issuer's sole outstanding class of equity, the warrant shares will represent two percent (2%) of the outstanding shares of the Issuer at the time of the IPO. The purchase price for the shares under the warrant agreement will be equal to 90% of the value of such shares. In the event of an IPO or a Private Placement the value of the shares will be equal to the issuance price of the shares. The value of the shares will be determined by the appraisal process set forth on Exhibit B if the warrant agreement is entered into prior to --------- an IPO or Private Placement.

Appears in 1 contract

Samples: Management Agreement (Ipcs Inc)

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