This excerpt taken from the LTD 8-K filed Jun 24, 2009.
Registration Rights Agreement
On June 19, 2009, in connection with the issuance of the Notes, the Company and the Guarantors entered into a registration rights agreement with J.P. Morgan Securities Inc., as representative of the initial purchasers, relating to, among other things, the exchange offer for the Notes and the related guarantees (the Registration Rights Agreement).
Subject to the terms of the Registration Rights Agreement, the Company and the Guarantors will use their reasonable best efforts to register with the SEC notes and guarantees having substantially identical terms as the Notes as part of offers to exchange freely tradable exchange notes for the Notes within 270 days after the issue date of the Notes.
If the Company and the Guarantors fail to meet these targets (a registration default), the annual interest rate on the Notes will increase by 0.25% per year for the first 90-day period after a registration default. The annual interest rate on the Notes will increase by an additional 0.25% per year for each subsequent 90-day period during which the registration default continues, up to a maximum additional interest rate of 0.50% per year over the otherwise applicable interest rate, which is 8.50%. If the registration default is corrected, the applicable interest rate will revert to the original level.