Irrevocable Waiver of Rights under Exchange Agreement

EX-2.3 2 w41407exv2w3.htm IRREVOCABLE WAIVER OF RIGHTS UNDER EXCHANGE AGREEMENT exv2w3
 

Exhibit 2.3
IRREVOCABLE WAIVER OF RIGHTS UNDER EXCHANGE AGREEMENT
September 17, 2007
     Reference is hereby made to (1) that certain Exchange Agreement, dated as of January 31, 2007, as amended (the ‘Exchange Agreement”), by and among the Consenting Noteholders (as defined therein), SunCom Wireless Holdings, Inc., a Delaware Corporation (the “Company”), and certain of its Subsidiaries and (2) that certain Agreement and Plan of Merger, entered into on September 16, 2007 (the “Merger Agreement”), by and among Company, T-Mobile USA, Inc., a Delaware corporation (“Parent”), and Tango Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent. If the Merger contemplated by the Merger Agreement is completed, among other things, the company will become a wholly-owned subsidiary of Parent, and each outstanding share of common stock of the Company will be converted into the right to receive $27 per share, in cash, and the former holders of such shares will have no continuing equity interest in the Company.
     The undersigned hereby irrevocably waives any right it might have under Section 9.1 of the Exchange Agreement to designate from and after the Effective Time (should it occur) any person for election to, or to fill any vacancy arising at or after the Effective Time (should it occur) on, the Company’s Board of Directors. The foregoing waiver shall have no effect if the Merger Agreement is terminated in accordance with its terms prior to the Effective Time, but otherwise shall be irrevocable.
Date: 9/17/2007
         
  PARDUS SPECIAL OPPORTUNITIES MASTER
FUND L.P.

By: Pardus Capital Management L.P.,
       Its Investment Manager
 
 
  By:   /s/ James Thornton    
    Name:   James Thornton   
    Title:   Authorized Officer   

 


 

         
IRREVOCABLE WAIVER OF RIGHTS UNDER EXCHANGE AGREEMENT
September 17, 2007
     Reference is hereby made to (1) that certain Exchange Agreement, dated as of January 31, 2007, as amended (the ‘Exchange Agreement”), by and among the consenting Noteholders (as defined therein), SunCom Wireless Holdings, Inc., a Delaware Corporation (the “Company”), and certain of its Subsidiaries and (2) that certain Agreement and Plan of Merger, entered into on September 16, 2007 (the “Merger Agreement”), by and among Company, T-Mobile USA, Inc., a Delaware corporation (“Parent”), and Tango Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of parent. If the Merger contemplated by the Merger Agreement is completed, among other things, the company will become a wholly-owned subsidiary of parent, and each outstanding share of common stock of the company will be converted into the right to receive $27 per share, in cash, and the former holders of such shares will have no continuing equity interest in the Company.
     The undersigned hereby irrevocably waives any right it might have under Section 9.1 of the Exchange Agreement to designate from and after the Effective Time (should it occur) any person for election to, or to fill any vacancy arising at or after the Effective Time (should it occur) on, the company’s board of Directors. The foregoing waiver shall have no effect if the Merger Agreement is terminated in accordance with its terms prior to the Effective Time, but otherwise shall be irrevocable.
[INTENTIONALLY LEFT BLANK]

 


 

         
  HIGHLAND CRUSADER OFFSHORE PARTNERS, L.P.
 
  By:  Highland Crusader GP, L.P., its general partner
 
  By:  Highland Crusader GP, LLC., its general partner
 
  By:  Highland Capital Management, L.P., its sole member
 
  By:  Strand Advisors, Inc., its general partner
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   President Strand Advisors, Inc.,
General Partner of Highland Capital
Management L.P. 
 
 
 
  HIGHLAND CREDIT STRATEGIES MASTER FUND, L.P.
 
  By:  Highland General Partners, L.P., its general partner
 
  By:  Highland GP Holdings LLC, its general partner
 
  By:  Highland Capital Management, LP, its sole member
 
  By:  Strand Advisors, Inc., its general partner
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   President Strand Advisors, Inc.,
General Partner of Highland Capital
Management L.P. 
 

 


 

         
         
  HIGHLAND CDO OPPORTUNITY MASTER FUND, L.P.
 
  By:  Highland CDO Opportunity Fund GP, L.P.,
its general partner
 
  By:  Highland CDO Opportunity Fund GP, LLC,
its general partner
 
  By:  Highland Capital Management, L.P., its sole member
 
  By:  Strand Advisors, Inc., its general partner
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   President Strand Advisors, Inc.,
General Partner of Highland Capital
Management L.P. 
 
 
 
  HIGHLAND SPECIAL OPPORTUNITIES HOLDING COMPANY
 
 
  By:   /s/ Kevin Ciavarra    
    Name:   Kevin Ciavarra   
    Title:   Secretary   
 
 
  HIGHLAND CAPITAL MANAGEMENT SERVICES, INC.
 
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   Officer   

 


 

         
         
  RESTORATION OPPORTUNITIES FUND
 
 
  By:   /s/ R. Joseph Dougherty    
    Name:   R. Joseph Dougherty   
    Title:   Senior Vice President   
 
 
  HIGHLAND CREDIT STRATEGIES FUND
 
 
  By:   /s/ R. Joseph Dougherty    
    Name:   R. Joseph Dougherty   
    Title:   Senior Vice President   
 
 
  HIGHLAND CREDIT OPPORTUNITIES CDO, LTD.
 
  By:  Highland Capital Management, L.P.,
Its collateral manager
 
  By:  Strand Advisors, Inc., its general partner
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   President Strand Advisors, Inc.
General Partner of Highland Capital
Management, L.P. 
 

 


 

         
         
  HIGHLAND CREDIT OPPORTUNITIES CDO, L.P.
 
  By:  Highland Credit Opportunities CDO GP, L.P.,
its general partner
 
  By:  Highland Credit Opportunities CDO GP, LLC.,
its general partner
 
  By:  Highland Capital Management, L.P.,
its sole member
 
  By:  Strand Advisors, Inc., its general partner
 
  By:   /s/ James Dondero    
    Name:   James Dondero   
    Title:   President Strand Advisors, Inc.,
General Partner of Highland Capital
Management L.P. 
 

 


 

         
IRREVOCABLE WAIVER OF RIGHTS UNDER EXCHANGE AGREEMENT
September 17, 2007
     Reference is hereby made to (1) that certain Exchange Agreement, dated as of January 31, 2007, as amended (the ‘Exchange Agreement”), by and among the Consenting Noteholders (as defined therein), SunCom Wireless Holdings, Inc., a Delaware Corporation (the “Company”), and certain of its Subsidiaries and (2) that certain Agreement and Plan of Merger, entered into on September 16, 2007 (the “Merger Agreement”), by and among Company, T-Mobile USA, Inc., a Delaware Corporation (“Parent”), and Tango Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Parent. If the Merger contemplated by the Merger Agreement is completed, among other things, the company will become a wholly-owned subsidiary of Parent, and each outstanding share of common stock of the Company will be converted into the right to receive $27 per share, in cash, and the former holders of such shares will have no continuing equity interest in the Company.
     The undersigned hereby irrevocably waives any right it might have under Section 9.1 of the Exchange Agreement to designate from and after the Effective Time (should it occur) any person for election to, or to fill any vacancy arising at or after the Effective Time (should it occur) on, the Company’s Board of Directors. The foregoing waiver shall have no effect if the Merger Agreement is terminated in accordance with its terms prior to the Effective Time, but otherwise shall be irrevocable.
Date: 9/18/2007
         
  DIMAIO AHMAD CAPITAL LLC
 
 
  By:   /s/ Lawrence Wolfson    
    Name:   Lawrence Wolfson   
    Title:   Authorized Signatory   
 
 
  LISPENARD STREET CREDIT (MASTER), LTD.
 
  By:  DiMaio Ahmad Capital LLC, its investment manager
 
  By:   /s/ Lawrence Wolfson    
    Name:   Lawrence Wolfson   
    Title:   Authorized Signatory   
 
 
  POND VIEW CREDIT (MASTER), L.P.
 
  By:  DiMaio Ahmed Capital LLC, its investment manager
 
  By:   /s/ Lawrence Wolfson    
    Name:   Lawrence Wolfson   
    Title:   Authorized Signatory