LEAP » Topics » Senior Secured Credit Agreement

This excerpt taken from the LEAP 10-Q filed May 11, 2009.
Senior Secured Credit Agreement
 
Cricket entered into a senior secured credit agreement with Denali and its subsidiaries to fund the payment to the FCC for the AWS license acquired by Denali in Auction #66 and to fund a portion of the costs of the construction and operation of the wireless network using such license. As of March 31, 2009, total borrowings under the license acquisition sub-facility totaled $223.4 million and total borrowings under the build-out sub-facility totaled $234.5 million. During January 2009, the build-out sub-facility was increased to a total of $394.5 million, approximately $160.0 million of which was unused as of March 31, 2009. The Company does not anticipate making any future increases to the size of the build-out sub-facility. Additional funding requests would be subject to approval by Leap’s board of directors. Loans under the credit agreement accrue interest at the rate of 14% per annum and such interest is added to principal quarterly. All outstanding principal and accrued interest is due in April 2021.
 
This excerpt taken from the LEAP DEF 14A filed Apr 10, 2009.
Senior Secured Credit Agreement
 
Cricket entered into a senior secured credit agreement with Denali and its subsidiaries to fund the payment to the FCC for the AWS license acquired by Denali in Auction #66 and to fund a portion of the costs of the construction and operation of the wireless network using such license. As of December 31, 2008, total borrowings under the license acquisition sub-facility totaled $223.4 million and total borrowings under the build-out sub-facility totaled $174.5 million. During January 2009, the build-out sub-facility was increased to a total of $394.5 million, approximately $150.0 million of which was unused as of February 20, 2009. The Company does not anticipate making any future increases to the size of the build-out sub-facility. Additional funding requests would be subject to approval by Leap’s board of directors. Loans under the credit agreement accrue interest at the rate of 14% per annum and such interest is added to principal quarterly. All outstanding principal and accrued interest is due in April 2021.
 
These excerpts taken from the LEAP 10-K filed Feb 27, 2009.
Senior Secured Credit Agreement
 
Cricket entered into a senior secured credit agreement with Denali and its subsidiaries to fund the payment to the FCC for the AWS license acquired by Denali in Auction #66 and to fund a portion of the costs of the construction and operation of the wireless network using such license. As of December 31, 2008, total borrowings under the license acquisition sub-facility totaled $223.4 million and total borrowings under the build-out sub-facility totaled $174.5 million. During January 2009, the build-out sub-facility was increased to a total of $394.5 million, approximately $150.0 million of which was unused as of February 20, 2009. The Company does not anticipate making any future increases to the size of the build-out sub-facility. Additional funding requests would be subject to approval by Leap’s board of directors. Loans under the credit agreement accrue interest at the rate of 14% per annum and such interest is added to principal quarterly. All outstanding principal and accrued interest is due in April 2021.
 
Senior
Secured Credit Agreement



 



Cricket entered into a senior secured credit agreement with
Denali and its subsidiaries to fund the payment to the FCC for
the AWS license acquired by Denali in Auction #66 and to
fund a portion of the costs of the construction and operation of
the wireless network using such license. As of December 31,
2008, total borrowings under the license acquisition
sub-facility
totaled $223.4 million and total borrowings under the
build-out
sub-facility
totaled $174.5 million. During January 2009, the build-out
sub-facility
was increased to a total of $394.5 million, approximately
$150.0 million of which was unused as of February 20,
2009. The Company does not anticipate making any future
increases to the size of the build-out
sub-facility.
Additional funding requests would be subject to approval by
Leap’s board of directors. Loans under the credit agreement
accrue interest at the rate of 14% per annum and such interest
is added to principal quarterly. All outstanding principal and
accrued interest is due in April 2021.


 




Senior
Secured Credit Agreement



 



Cricket entered into a senior secured credit agreement with
Denali and its subsidiaries to fund the payment to the FCC for
the AWS license acquired by Denali in Auction #66 and to
fund a portion of the costs of the construction and operation of
the wireless network using such license. As of December 31,
2008, total borrowings under the license acquisition
sub-facility
totaled $223.4 million and total borrowings under the
build-out
sub-facility
totaled $174.5 million. During January 2009, the build-out
sub-facility
was increased to a total of $394.5 million, approximately
$150.0 million of which was unused as of February 20,
2009. The Company does not anticipate making any future
increases to the size of the build-out
sub-facility.
Additional funding requests would be subject to approval by
Leap’s board of directors. Loans under the credit agreement
accrue interest at the rate of 14% per annum and such interest
is added to principal quarterly. All outstanding principal and
accrued interest is due in April 2021.


 




Senior
Secured Credit Agreement



 



Cricket entered into a senior secured credit agreement with
Denali and its subsidiaries to fund the payment to the FCC for
the AWS license acquired by Denali in Auction #66 and to
fund a portion of the costs of the construction and operation of
the wireless network using such license. As of December 31,
2008, total borrowings under the license acquisition
sub-facility
totaled $223.4 million and total borrowings under the
build-out
sub-facility
totaled $174.5 million. During January 2009, the build-out
sub-facility
was increased to a total of $394.5 million, approximately
$150.0 million of which was unused as of February 20,
2009. The Company does not anticipate making any future
increases to the size of the build-out
sub-facility.
Additional funding requests would be subject to approval by
Leap’s board of directors. Loans under the credit agreement
accrue interest at the rate of 14% per annum and such interest
is added to principal quarterly. All outstanding principal and
accrued interest is due in April 2021.


 




Senior
Secured Credit Agreement



 



Cricket entered into a senior secured credit agreement with
Denali and its subsidiaries to fund the payment to the FCC for
the AWS license acquired by Denali in Auction #66 and to
fund a portion of the costs of the construction and operation of
the wireless network using such license. As of December 31,
2008, total borrowings under the license acquisition
sub-facility
totaled $223.4 million and total borrowings under the
build-out
sub-facility
totaled $174.5 million. During January 2009, the build-out
sub-facility
was increased to a total of $394.5 million, approximately
$150.0 million of which was unused as of February 20,
2009. The Company does not anticipate making any future
increases to the size of the build-out
sub-facility.
Additional funding requests would be subject to approval by
Leap’s board of directors. Loans under the credit agreement
accrue interest at the rate of 14% per annum and such interest
is added to principal quarterly. All outstanding principal and
accrued interest is due in April 2021.


 




"Senior Secured Credit Agreement" elsewhere:

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