AMOUNT: US$17,500,000.00 DOLLARS.
By this Promissory Note (the "Promissory Note"), Pegaso Comunicaciones y Servicios, S.A. de C.V. (the
"Borrower"), an entity duly organized and validly existing under the laws of the United Mexican States, hereby
unconditionally promises to pay to the order of Leap Wireless, Inc. (the "Lender"), an entity duly organized and
validly existing under the laws of the State of Delaware, United States of America, the principal amount of
US$17,500,000.00 (seventeen million five hundred thousand dollars, Currency of the United States of America),
1. October 30, 1998: US$ 7,500,000.00 ("Tranche "1""), and
2. December 31, 1998: US$10,000,000.00 ("Tranche "2"").
The Borrower also unconditionally promises to pay to the Lender interest on the unpaid balance of this
Promissory Note at an annual fixed rate equal to 13% (thirteen percent) per annum, calculated by the actual
number of days elapsed on the basis of a year of 360 days, in the understanding that such rate shall be increased
in an amount necessary to ensure the Lender receives interest at an annual rate equal to 13% (thirteen percent),
free and clear of any tax or withholding. Interest accrued on Tranche "1" shall be paid on October 30, 1998, and
interest accrued on Tranche "2" shall be paid on December 31, 1998.
In the event that any amount owed to the Lender under this Promissory Note is not paid when due, the unpaid
principal balance of this Promissory Note shall bear penalty interest, during the period from and including the date
immediately following the due date to and including the actual payment date, at a fixed rate per annum, calculated
by the actual number of days
IMPORTE: $17,500,000.00 DE DOLARES.
Por este Pagare (el "Pagare"), Pegaso Comunicaciones y Servicios, S.A. de C.V. (la "Acreditada"), una
sociedad constituida y validamente existente conforme a las leyes de los Estados Unidos Mexicanos, promete
incondicionalmente pagar a la orden de