EXHIBIT 10.3
AMENDMENT NO. 1 TO 93.5 TIME BROKERAGE AGREEMENT
Amendment No. 1 dated as of February 8, 2002 to the 93.5 Time
Brokerage Agreement (the "Agreement") dated as of March 13, 2001 by and between
SPANISH BROADCASTING SYSTEM SOUTHWEST, INC., a Delaware corporation, as Licensee
("SBS- SW") and INTERNATIONAL CHURCH OF THE FOURSQUARE GOSPEL, a California
nonprofit religious corporation, as Broker ("ICFG").
W I T N E S S E T H:
WHEREAS, the parties wish to amend the Agreement.
NOW, THEREFORE, in consideration of the mutual promises and
covenants contained herein, the parties intending to be legally bound, agree as
follows:
1. Capitalized terms used herein but not defined shall have
the meaning set forth in the Purchase Agreement (as defined below).
2. Section 1.2 is hereby amended in its entirety to read as
follows:
"1.2 EFFECTIVE DATE; TERM. The effective date of this
Agreement shall be the date of the signing of this
Agreement as set forth above ("Effective Date"). It
shall continue in force until the earlier to occur of
(a) a closing under the Asset Purchase Agreement
dated as of November 2, 2000, as amended, (the
"Purchase Agreement") and (b) September 1, 2002,
unless extended by ICFG for an additional six month
period. ICFG shall have the right to cancel at
anytime upon thirty (30) days prior written notice.
March 31, 2001 shall be the "Commencement Date".
3. Section 6.1(e) shall be deleted in its entirety.
4. Except as specifically amended hereby, the terms and
conditions of the Purchase Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have each caused this
Amendment to be duly executed as of the date first above written by their
respective officers thereunto duly authorized.
SPANISH BROADCASTING SYSTEM
SOUTHWEST, INC.
By: /s/ Xxxx Xxxxxxx, Xx.
---------------------------------
Xxxx Xxxxxxx, Xx.
Title: President and Chief
Executive Officer
By: /s/ Xxxxxx X. Xxxxxx
---------------------------------
Xxxxxx X. Xxxxxx
Title: Executive Vice President
INTERNATIONAL CHURCH OF THE
FOURSQUARE GOSPEL
By: /s/ Xxxx X. Xxxxxx
---------------------------------
Name: Xxxx X. Xxxxxx
Title: President
By: /s/ Xxxxx Xxxxxx
---------------------------------
Name: Xxxxx Xxxxxx
Title: Treasurer
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