Contract for Delivery of CD Radio DARS System [Amendment No. 12] - CD Radio Inc. and Space System/Loral Inc.
AMENDMENT NO. 12
TO
CONTRACT NO. SS/L-TP93002-01
AND
SPACE SYSTEMS/LORAL
FOR
DELIVERY OF CD RADIO DARS SYSTEM
THIS CONTRACT AMENDMENT NO. 12 (the "Amendment") is entered into
effective as of the 25th day of April, 1997, between CD RADIO INC. (the
"Purchaser") and SPACE SYSTEMS/LORAL, INC. (the "Contractor").
WHEREAS, Contractor and Purchaser are parties to Contract No.
SS/L-TP93002- 01 dated March 2, 1993, as amended by the parties thereto, most
recently pursuant to Contract Amendment No. 11 dated March 24, 1997 (as so
amended, the "Contract").
WHEREAS, Contractor and Purchaser desire to amend the Contract,
NOW, THEREFORE, in consideration of the mutual covenants and
conditions in this Amendment and in the Agreement, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:
1. The page from the Contract, attached to this Amendment as Exhibit A
and incorporated herein by reference, are hereby substituted for existing pages
in the Contract, in their entirety, as follows:
Existing Page (Remove) Replacement Page (Attached)
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2. All capitalized terms in this Amendment, not otherwise defined
herein, shall have the meanings ascribed to them in the Contract.
3. The Contract, as modified by the express terms of this Amendment,
is hereby ratified and affirmed by Purchaser and Contractor, and shall remain
in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment effective
as of the date first above written.
<TABLE>
<CAPTION>
CONTRACTOR: PURCHASER:
SPACE SYSTEMS/LORAL, INC. CD RADIO INC.
<S> <C>
By: /s/ R.A. Haley By: /s/ R.D. Briskman
-------------------------------------- -------------------------------------------------
Name: R.A. Haley Name: R.D. Briskman
-------------------------------------- -------------------------------------------------
Title: Vice President & CFO Title: President
-------------------------------------- -------------------------------------------------
</TABLE>
<PAGE> 2
EXHIBIT A - AMENDMENT 12
ARTICLE 44 AGREEMENT EXPIRATION
It is agreed between the Parties that if CD Radio Inc. has not been granted a
license and construction permit from the Federal Communications Commission by
the end of March 31, 1997, then the provisions of this Contract shall become
null and void, and the Parties shall have no further obligation whatsoever to
each other, and no financial obligation shall exist by either Party to the
other Party.
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