Remove Extra Record

I have a table sample:

DECLARE@Sample TABLE (Merchant VARCHAR(1), OldOrder INT, OrderType VARCHAR(20),
NewOrder INT, cdate datetime)

INSERT@Sample
SELECT'a', 1, 'new', 1,'1/1/2003' UNION ALL
SELECT'a', 2, 'renewal',2,'8/2/2003' UNION ALL
SELECT'a', 3, 'renewal', 3, '2/1/2004'UNION ALL
SELECT'a', 4, 'renewal', 4,'11/1/2004' UNion ALL
SELECT'a', 5, 'renewal' ,5, '3/8/2006'UNION ALL
SELECT'a', 6, 'new', 1, '3/1/2004' UNION ALL
SELECT'a', 7, 'new', 1,'12/3/2005' UNION ALL
SELECT'a', 8, 'renewal',2, '8/2/2005'UNION ALL
SELECT'a', 9, 'renewal', 3,'9/2/2006'UNION ALL
SELECT'a', 10, 'renewal',4, '10/2/2006'UNION ALL
SELECT'a', 11, 'renewal', 5, '11/2/2006' UNION ALL
SELECT'b', 1, 'new', 1,'8/2/2003'UNION ALL
SELECT'b', 2, 'new', 1,'9/2/2003'UNION ALL
SELECT'b', 3, 'new', 1,'8/2/2005'UNION ALL
SELECT'c', 1, 'new', 1,'8/2/2004'UNION ALL
SELECT'c', 2, 'renewal',2,'8/2/2005' UNION ALL
SELECT'c', 3, 'renewal',3,'9/2/2005' UNION ALL
SELECT'd', 2, 'new',1 ,'8/2/2005'UNION ALL
SELECT'd', 3, 'renewal',2, '4/2/2006'UNION ALL
SELECT'd', 4, 'renewal',3, '6/2/2006'UNION ALL
SELECT'd', 4, 'renewal',4,'9/2/2006'

I want to remve all records serials startign with type 'new' (neworder 1) which is later than ,1/1/2005' and subsquncial renewals
The desire result should be:

MerchantOldOrderOrderTypeNewOrdercdate
a1new12003-01-01 00:00:00.000
a2renewal22003-08-02 00:00:00.000
a3renewal32004-02-01 00:00:00.000
a4renewal42004-11-01 00:00:00.000
a5renewal52006-03-08 00:00:00.000
a6new12004-03-01 00:00:00.000
b1new12003-08-02 00:00:00.000
b2new12003-09-02 00:00:00.000
c1new12004-08-02 00:00:00.000
c2renewal22005-08-02 00:00:00.000
c3renewal32005-09-02 00:00:00.000
Thanks.
Jeff