EXCHANGE AGREEMENT
EXCHANGE AGREEMENT (this “Agreement”), dated as of September 22, 2009, by and between
AEI, a Cayman Islands exempted company (“AEI”), and D.E. Shaw Laminar Portfolios, L.L.C., a
Delaware limited liability company (“D.E. Shaw” and, together with AEI, the
“Parties”).
WHEREAS, D.E. Shaw holds 12,160,608 American Depositary Receipts (“TGS ADRs”),
representing 60,803,040 Class B Shares, par value Ps.1, of Transportadora de Gas del Sur S.A., a
company organized and existing under the laws of Argentina (“TGS”); and
WHEREAS, D.E. Shaw desires to transfer, or cause to be transferred, to AEI or its designee,
12,160,608 TGS ADRs in exchange for 1,976,099 ordinary shares, par value U.S.$0.002 per share, in
the capital of AEI (the “AEI Shares”) to be delivered to D.E. Shaw pursuant to the terms
and conditions of this Agreement.
NOW, THEREFORE, the Parties hereby agree as follows:
ARTICLE I
CERTAIN DEFINITIONS
CERTAIN DEFINITIONS
As used in this Agreement, the following terms shall have the respective meanings set forth
below:
“Addendum to Shareholders Agreement” means the Addendum to the Shareholders Agreement
substantially in the form attached hereto as Exhibit A.
“AEI” has the meaning set forth in the Preamble.
“AEI Agreements” means the Addendum to Shareholders Agreement and the Joinder
Agreement.
“AEI Disclosure” means (i) AEI’s registration statement on Form 20-F filed by AEI with
the Securities and Exchange Commission (the “SEC”) on March 27, 2009 and as amended on
Xxxxx 00, 0000, (xx) XXX’s Annual Report on Form 20-F for the fiscal year ended December 31, 2008
filed with the SEC on May 22, 2009, as amended, (iii) AEI’s Current Report on Form 6-K filed with
the SEC on August 19, 2009 (containing AEI Unaudited Condensed Consolidated Financial Statements
and MD&A as of June 30, 2009 and December 31, 2008 and for the Three and Six Months Ended June 30,
2009 and 2008), and (iv) AEI’s registration statement on Form F-1 filed by AEI with the SEC on
August 18, 2009.
“AEI Excluded Information” has the meaning set forth in Section 4.11.
“AEI Shares” has the meaning set forth in the Recitals.
“Affiliate” means, with respect to a given Person (in this definition, the
“Relevant Person”), any Person who directly or indirectly, Controls, or is Controlled by,
or is under a common Control with, the Relevant Person; provided, that no shareholder of a Party
(or any Subsidiary or Affiliate of any such shareholder) shall be deemed to be an Affiliate of such
Party for purposes of this Agreement. As used in
- 1 -
this definition, “Control,” “Controlling” and “Controlled” shall mean
the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of a Person (whether through ownership of securities or partnership or other
ownership interests, by contract or otherwise).
“Agreement” has the meaning set forth in the Preamble.
“Anti-Money Laundering Laws” means any Law of any relevant jurisdiction having the
force of law and relating to anti-money laundering.
“Business Day” means any day other than a Saturday or a Sunday or a day on which banks
located in New York, New York or Houston, Texas are authorized or required to be closed.
“D.E. Shaw” has the meaning set forth in the Preamble.
“D.E. Shaw Excluded Information” has the meaning set forth in Section 3.04
“Government Authority” has the meaning set forth in the definition of Government
Official.
“Government Official” means (i) an employee, officer or representative of, or any
Person otherwise acting in an official capacity for or on behalf of, (a) a national government,
political subdivision thereof, or local jurisdiction therein; (b) an instrumentality, board,
commission, court, or agency, whether civilian or military, of any of the above, however
constituted; (c) a government-owned/government-controlled association, organization or enterprise;
or (d) a political party (collectively “Government Authority”); (ii) a legislative,
administrative, or judicial official, regardless of whether elected or appointed; (iii) an officer
or individual who holds a position in a political party; (iv) a candidate for political office; (v)
an individual who holds any royal family, official, ceremonial, or other positions with a
government or any of its agencies; or (vi) an officer or employee of a supra-national organization
(e.g., World Bank, United Nations, International Monetary Fund, OECD).
“Governmental Entity” means any government or any agency, bureau, board, commission,
court, department, official, political subdivision, tribunal or other instrumentality of any
government, whether federal, state or local, multinational or supranational, domestic or foreign,
or any quasi-governmental or private body exercising any regulatory, taxing, importing or other
governmental or quasi-governmental authority that has, in each case, jurisdiction over the matter
in question.
“Joinder Agreement” means the Joinder Agreement substantially in the form attached
hereto as Exhibit B.
“Law/Laws” means any constitutional provision, statute, law, rule, ordinance,
regulation, treaty, code, executive order or interpretation of any Governmental Entity and any
Order.
“Liens” means all liens, pledges, charges, mortgages, hypothecations, deeds of trust,
security interests, assignments in trust or by way of security or other encumbrances or
restrictions on title with respect to such security (collectively, “Liens”).
- 2 -
“Material Adverse Effect” means, with respect to a given Person (in this definition,
the “Relevant Person”) any change, event or effect (i) that is materially adverse to the
business, assets, liabilities, results of operations or financial condition of the Relevant Person
and its Subsidiaries, taken as a whole, excluding any such change, event or effect arising out of
or in connection with or resulting from: (A) general economic or business conditions or changes
thereto to the extent such conditions or changes do not have a materially disproportionate effect
on the Relevant Person and its Subsidiaries, taken as a whole, relative to other entities operating
businesses similar to the Relevant Person or its Subsidiaries; (B) changes, events or effects
generally affecting the energy infrastructure business in emerging markets to the extent such
changes, events or effects do not have a materially disproportionate effect on the Relevant Person
and its Subsidiaries, taken as a whole, relative to other entities operating businesses similar to
the Relevant Person or its Subsidiaries; (C) any change, event or effect resulting from or
associated with acts of war, armed hostilities or terrorism; (D) changes in commodity, credit,
security or financial markets, including without limitation, currency exchange rates or interest
rates; (E) changes in applicable laws or regulations or the interpretation thereof (except those
changes the effect of which would result in an expropriation without fair compensation);
(F) changes in generally accepted accounting principles or the interpretation thereof; or (G) any
announcements regarding the transactions contemplated by this Agreement or the performance by the
Relevant Person of its obligations hereunder or the consummation of the transactions contemplated
hereby or (ii) that has a material adverse effect on the ability of the Relevant Person to perform
its obligations hereunder or to consummate the transactions contemplated hereby.
“OFAC List” means the Specially Designated Nationals and Blocked Persons List, as
published by the United States Department of the Treasury Office of Foreign Asset Control from time
to time, and available on the Internet at
xxxx://xxx.xxxxx.xxx/xxxxxxx/xxxxxxxxxxx/xxxx/xxx/xxxxx.xxxx or any official successor website or
any other person or entity that because of its domicile or ownership is targeted under any of the
Trading With the Enemy Act, the International Emergency Economic Powers Act, the United Nations
Participation Act, or the Syria Accountability and Lebanese Sovereignty Act, all as amended, or any
of the foreign assets control regulations of the United States Treasury Department (31 C.F.R.,
Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto,
as collectively interpreted and applied by the U.S. government at the prevailing point in time.
“Order” means any binding and enforceable decree, injunction, judgment, order, ruling,
assessment, stipulation, determination or writ issued by or agreement entered into with a
Governmental Entity (whether preliminary or final).
“Parties” has the meaning set forth in the Preamble.
“Person” means any natural person, association, corporation, general partnership,
limited partnership, limited liability company, limited liability partnership, proprietorship,
joint venture, trust or any other entity, organization or Governmental Entity.
“Relevant Person” has the meaning set forth in the definition of Affiliate.
“SEC” has the meaning set forth in the definition of AEI Disclosure.
- 3 -
“Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.
“Shareholders Agreement” means the Second Amended and Restated Shareholders Agreement,
dated as of May 9, 2008, by and among AEI (formerly known as Xxxxxxx Energy International) and the
shareholders of AEI a party thereto.
“Subsidiary” means, with respect to any Person, any other Person of which at least a
majority of the securities or ownership interests having by their terms ordinary voting power to
elect a majority of the board of directors or other Persons performing similar functions is
directly or indirectly owned or Controlled by such Person or by one or more of its Subsidiaries.
“TGS” has the meaning set forth in the Recitals.
“TGS ADRs” has the meaning set forth in the Recitals.
ARTICLE II
EXCHANGE
EXCHANGE
Section 2.01. Exchange. At the Closing, D.E. Shaw shall transfer to AEI (or its
designee) good and valid title to 12,160,608 TGS ADRs free and clear of all Liens. In
consideration therefor, AEI shall issue and deliver to D.E. Shaw 1,976,099 AEI Shares (valued at
$16.00 per share) and shall enter D.E. Shaw as the holder of record of such AEI Shares in the
register of members of AEI (the “Exchange”).
Section 2.02. Closing. The closing shall take place at 10:00 A.M., New York City
time, on a date to be mutually agreed by the parties, which date shall be as soon as practicable
and in any event no later than October 9, 2009 at the offices of Xxxxxxxx Chance US LLP, located at
00 X. 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx or at such other time and place as the Parties agree upon,
orally or in writing (which time and place are designated as the “Closing”).
Section 2.03. Closing Deliveries. At the Closing,
(a) D.E. Shaw shall:
(i) cause its broker to transfer 12,160,608 TGS ADRs to an account designated in writing by
AEI (such account information to be delivered at least two Business Days prior to the Closing); and
(ii) deliver duly executed copies of the AEI Agreements.
(b) AEI shall deliver or cause to be delivered to D.E. Shaw evidence reasonably satisfactory
to D.E. Shaw of the registration of D.E. Shaw as the owner of 1,976,099 AEI Shares in AEI’s
register of members.
(c) The parties shall deliver to each other such certificates and documents as reasonably
requested and agreed by the parties.
- 4 -
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF AEI
REPRESENTATIONS AND WARRANTIES OF AEI
AEI hereby represents and warrants to D.E. Shaw, that:
Section 3.01. Organization and Related Matters.
(a) AEI is an exempted company duly incorporated and validly existing under the Laws of the
Cayman Islands and has all necessary corporate power and authority to own, license, use, lease and
operate its assets and properties and to carry on its business as and where it is now being
conducted.
(b) AEI is duly qualified to do business in all jurisdictions in which such qualification is
necessary due to the nature of the property owned, leased or operated by it or the nature of the
business conducted by it except where the failure to be so qualified would not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect on AEI.
Section 3.02. Authorization. AEI has the corporate power and authority to execute,
deliver and perform this Agreement, and to consummate the transactions contemplated hereby. The
execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated hereby have been duly and validly authorized by all necessary corporate action on the
part of AEI. This Agreement has been duly executed and delivered by AEI. This Agreement
constitutes a legally valid and binding obligation of AEI enforceable against AEI in accordance
with its terms, except as may be limited by bankruptcy, insolvency, reorganization, moratorium and
other similar Laws relating to creditors’ rights generally and by general equitable principles.
Section 3.03. Capitalization; Valid Issuance.
(a) The authorized share capital of AEI as of the date hereof is U.S. $10,000,000 which is
divided into and consists solely of 5,000,000,000 shares, par value U.S.$0.002 each, of which
232,275,443.83 shares have been issued and are outstanding as of the date hereof. Except as set
forth in the AEI Disclosure, as of the date hereof there are no outstanding (i) securities of AEI
convertible into or exchangeable or exercisable for shares or any other capital stock, voting stock
or ownership interests in AEI, (ii) options, warrants, rights or other contracts or other
obligations, commitments or arrangements of AEI to issue, sell, repurchase, redeem or otherwise
acquire any shares or any other capital stock, voting stock or ownership interests in AEI (or
securities convertible into or exchangeable for shares, any other capital stock, voting stock or
ownership interests in AEI) or (iii) obligations of AEI to grant, extend or enter into any
subscription, warrant, right or other contract relating to any capital stock, voting or other
ownership interests of AEI.
(b) Upon issuance of the AEI Shares by AEI to D.E. Shaw against delivery of the TGS ADRs by
D.E. Shaw to AEI pursuant to the terms and conditions of this Agreement, such AEI Shares shall have
been duly authorized and validly issued and will be fully paid and nonassessable and D.E. Shaw will
acquire the legal title to, and will become the record owner of, 1,976,099 AEI Shares, free and
clear of all Liens or restriction on transfer or preemptive or other similar rights, other than the
rights
- 5 -
set forth in the Shareholders Agreement and other than restrictions on transfer under
applicable securities Laws.
Section 3.04. Possession of Information. AEI acknowledges that (i) D.E. Shaw
currently may have, and later may come into possession of information with respect to the TGS ADRs
that is not known to AEI and that may be material to a decision to acquire the TGS ADRs (the
“X.X. Xxxx Excluded Information”), (ii) AEI has determined to acquire the TGS ADRs and
exchange the AEI Shares notwithstanding its lack of knowledge of the X.X. Xxxx Excluded Information
and (iii) D.E. Shaw shall not have any liability to AEI and AEI waives and releases any claims that
it might have against D.E. Shaw whether under applicable securities Laws or otherwise, with respect
to the nondisclosure of the X.X. Xxxx Excluded Information in connection with the Exchange.
Section 3.05. No Other Representations. Except as expressly provided above, or
elsewhere in this Agreement, AEI does not make to D.E. Shaw, and AEI hereby expressly disclaims,
any representation or warranty of any kind or nature, written or oral, statutory, express or
implied, including, without limitation, with respect to AEI or any of its assets.
ARTICLE IV
REPRESENTATIONS AND WARRANTIES OF D.E. SHAW
REPRESENTATIONS AND WARRANTIES OF D.E. SHAW
Section 4.01. Organization and Related Matters.
(a) D.E. Shaw is a limited liability company duly organized and validly existing under the
Laws of the State of Delaware and has all necessary limited liability company power and authority
to own, license, use, lease and operate its assets and properties and to carry on its business as
and where it is now being conducted.
(b) D.E. Shaw is duly qualified to do business in all jurisdictions in which such
qualification is necessary due to the nature of the property owned, leased or operated by it or the
nature of the business conducted by it except where the failure to be so qualified would not
reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on D.E.
Shaw.
Section 4.02. Authorization. D.E. Shaw has the limited liability company power and
authority to execute, deliver and perform this Agreement, and to consummate the transactions
contemplated hereby. The execution, delivery and performance of this Agreement and the
consummation of the transactions contemplated hereby have been duly and validly authorized by all
necessary corporate action on the part of D.E. Shaw. This Agreement has been duly executed and
delivered by D.E. Shaw. This Agreement constitutes a legally valid and binding obligation of D.E.
Shaw enforceable against D.E. Shaw in accordance with its terms, except as may be limited by
bankruptcy, insolvency, reorganization,
moratorium and other similar Laws relating to creditors’ rights generally and by general
equitable principles.
Section 4.03. TGS ADRs. D.E. Shaw is the lawful beneficial owner of 12,160,608 TGS
ADRs, free and clear of all Liens or restrictions on transfer whatsoever, except for any Liens
created by this Agreement and restrictions on transfer under applicable Law. Upon the delivery of
such TGS ADRs to
- 6 -
AEI (or its designee) in the manner contemplated under Section 2.01, AEI (or its
designee) will acquire the beneficial and legal title to such TGS ADRs which shall be free and
clear of all Liens or restrictions on transfer except for restrictions on transfer under federal
and state securities laws. There are no outstanding options, warrants or other rights of any kind
to acquire from D.E. Shaw any TGS ADRs or securities convertible into or exchangeable for, or which
otherwise confer on the holder thereof any right to acquire from D.E. Shaw any such shares, nor is
D.E. Shaw committed to issue any such option, warrant, right or security.
Section 4.04. Compliance. In connection with the performance of the Agreement and
its acquisition of the AEI Shares, D.E. Shaw and its Affiliates have complied in all material
respects with the applicable requirements of the Anti-Money Laundering Laws. Neither D.E. Shaw
nor, to D.E. Shaw’s knowledge, any of D.E. Shaw’s directors or executive officers or any greater
than one percent of D.E. Shaw’s beneficial owners, by number of owners and ownership percentage,
are Persons included on the OFAC List.
Section 4.05. Foreign Corrupt Practices Act. In connection with the performance of
the Agreement and its acquisition of the AEI Shares, D.E. Shaw has not, and that D.E. Shaw does not
know or have reason to know that any of its officers, directors, employees, or agents have, or in
the future, will, pay, offer, promise, or authorize the payment of money or anything of value,
directly or indirectly, to a Government Official while knowing or having reason to know that any
portion of such exchange is for the purpose of:
(i) influencing any act or decision of such Government Official(s) in their official capacity,
including the failure to perform an official function, in order to assist D.E. Shaw or any
beneficiary of D.E. Shaw in obtaining or retaining business, or directing business to any third
party;
(ii) securing an improper advantage;
(iii) inducing such Government Official(s) to use their influence to affect or influence any
act or decision of a Governmental Authority in order to assist AEI, D.E. Shaw or any beneficiary of
D.E. Shaw in obtaining or retaining business, or directing business to any third party; or
(iv) providing an unlawful personal gain or benefit, of financial or other value, to such
Government Official(s).
Section 4.06. Restricted Securities. D.E. Shaw acknowledges receipt of the AEI
Disclosure. D.E. Shaw understands that the AEI Shares have not been registered under the
Securities Act or the securities or blue sky Laws of any State of the United States or any other
jurisdiction. D.E. Shaw also
understands that the AEI Shares are being offered and sold pursuant to an exemption from
registration contained in the Securities Act and any such State or other jurisdictions’ securities
or blue sky Laws based in part upon D.E. Shaw’s representations contained in this Agreement.
Section 4.07. Acquisition For Own Account. D.E. Shaw is receiving the AEI Shares for
D.E. Shaw’s own account for investment only, and not with a view towards a distribution thereof in
violation
- 7 -
of the Securities Act; provided, that this representation and warranty shall not limit
D.E. Shaw’s right to sell the AEI Shares in compliance with applicable securities Laws.
Section 4.08. Financial Sophistication; Information. D.E. Shaw is sufficiently
experienced in financial and business matters to be capable of evaluating the merits and risks
involved in purchasing the AEI Shares and to make an informed decision relating thereto. Without
limiting the representations and warranties in Article IV, (i) D.E. Shaw has been furnished with
the materials relating to the business, operations, financial condition, assets and liabilities of
AEI and other matters relevant to D.E. Shaw’s investment in the AEI Shares, which have been
requested by D.E. Shaw and (ii) D.E. Shaw has had adequate opportunity to ask questions of, and
receive answers from, the officers, employees, agents, accountants, and representatives of AEI
concerning the business, operations, financial condition, assets, liabilities of AEI and all other
matters relevant to its investment in the AEI Shares.
Section 4.09. No Public Market. D.E. Shaw understands that no public market now
exists for any of the shares in AEI’s capital, and that AEI has made no assurances that a public
market will ever exist for its shares. D.E. Shaw is able to bear the economic risk of this
investment indefinitely.
Section 4.10. Legends. D.E. Shaw understands that the AEI Shares will be
uncertificated, but that if certificates representing the AEI Shares are subsequently prepared,
such certificates will bear any legends required under applicable Law.
Section 4.11. Possession of Information. D.E. Shaw acknowledges that (i) AEI
currently may have, and later may come into possession of, information with respect to TGS that is
not known to D.E. Shaw and that may be material to a decision to exchange the TGS ADRs for AEI
Shares (“AEI Excluded Information”), (ii) D.E. Shaw has determined to exchange the TGS ADRs
and acquire the AEI Shares notwithstanding its lack of knowledge of the AEI Excluded Information
and (iii) AEI shall not have any liability to D.E. Shaw and D.E. Shaw waives and releases any
claims that it might have against AEI whether under applicable securities Laws or otherwise, with
respect to the nondisclosure of the AEI Excluded Information in connection with the Exchange.
Section 4.12. No Other Representations. Except as expressly provided above, or
elsewhere in this Agreement, D.E. Shaw does not make to AEI, and D.E. Shaw hereby expressly
disclaims, any representation or warranty of any kind or nature, written or oral, statutory,
express or implied, including, without limitation, with respect to D.E. Shaw or any of its assets.
ARTICLE V
ADDITIONAL COVENANTS
ADDITIONAL COVENANTS
Section 5.01. Transfer Notices. AEI and D.E. Shaw and their respective Affiliates
shall cooperate with each other to prepare and file, or cause to be filed, the following notices
(and any documents or instruments necessary in connection with such notices) with respect to the
Exchange; provided, that any pricing information with respect to the Exchange to be set forth in
any such notices must be jointly agreed in writing by AEI and D.E. Shaw prior to the filing of such
notices:
- 8 -
(a) (i) Promptly after the execution and delivery of this Agreement by each of the Parties,
AEI (or its designee) and D.E. Shaw (or its designee) shall each deliver the applicable notice in
the forms substantially attached hereto as Exhibit C to the Comisión Nacional de Valores
and (ii) promptly after Closing, AEI (or its designee) and D.E. Shaw (or its designee) shall each
notify the Comisión Nacional de Valores of the closing of this Agreement;
(b) (i) Promptly after the execution and delivery of this Agreement by each of the Parties,
AEI (or its designee) and D.E. Shaw (or its designee) shall deliver a notice substantially in the
form attached hereto as Exhibit D to the Bolsa de Comercio de Buenos Aires and (ii)
promptly after Closing, AEI (or its designee) and D.E. Shaw (or its designee) shall notify the
Bolsa de Comercio de Buenos Aires of the closing of this Agreement.
Section 5.02. Further Assurances. From time to time after the date hereof, without
additional consideration, each of the Parties will (or, if appropriate, cause their subsidiaries or
Affiliates to) execute and deliver such further instruments and take such other action as may be
necessary to make effective the transactions contemplated by this Agreement.
ARTICLE VI
TERMINATION
TERMINATION
Section 6.01. Termination. This Agreement may be terminated, and the transactions
contemplated by this Agreement may be abandoned, at any time prior to the Closing by:
(a) the mutual written agreement of AEI and D.E. Shaw;
(b) AEI or D.E. Shaw, if any court of competent jurisdiction or other competent governmental
entity shall have issued a statute, rule, regulation, order, decree or injunction or taken any
other action permanently restraining, enjoining or otherwise prohibiting all or any portion of the
transactions contemplated by this Agreement and such statute, rule, regulation, order, decree or
injunction or other action shall have become final and nonappealable; or
(c) AEI or D.E. Shaw, if the Closing shall not have occurred on or before October 9, 2009,
unless the failure to consummate the Closing is due to the failure to act by the terminating Party
(or its Affiliates).
ARTICLE VII
MISCELLANEOUS
MISCELLANEOUS
Section 7.01. Governing Law; Jurisdiction and Forum; Waiver of Jury Trial.
(a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES AND THE TRANSACTIONS
CONTEMPLATED HEREBY SHALL BE GOVERNED BY, ENFORCED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, WITHOUT REGARD FOR THE CONFLICTS OF LAWS PRINCIPLES THEREOF. EACH OF THE
PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY
- 9 -
SUBMITS TO THE JURISDICTION OF ANY COURT OF THE
STATE OF NEW YORK LOCATED IN NEW YORK COUNTY, NEW YORK AND ANY FEDERAL COURT LOCATED IN NEW YORK
COUNTY, NEW YORK WITH RESPECT TO ANY PROCEEDING RELATING TO THIS AGREEMENT. FURTHER, EACH OF THE
PARTIES HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION OR DEFENSE THAT IT MAY HAVE
BASED ON IMPROPER VENUE OR FORUM NON CONVENIENS TO THE CONDUCT OF ANY SUCH PROCEEDING IN ANY SUCH
COURTS. THE PARTIES AGREE THAT ANY OR ALL OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT
AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED AGREEMENT AMONG THE PARTIES IRREVOCABLY
TO WAIVE ANY OBJECTIONS TO VENUE OR TO CONVENIENCE OF FORUM. EACH OF THE PARTIES (ON BEHALF OF
ITSELF AND ITS AFFILIATES) AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING WILL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER
MANNER PROVIDED BY APPLICABLE LAW.
(b) To the extent that any Party has or hereafter may acquire any immunity from jurisdiction
of any court or from any legal process (whether through service or notice, attachment prior to
judgment, attachment in aid of execution, execution or otherwise) with respect to itself or its
property, each Party hereby irrevocably waives such immunity in respect of its obligations with
respect to this Agreement.
(c) EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT. EACH PARTY CERTIFIES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS SET FORTH ABOVE IN THIS SECTION 7.01.
Section 7.02. No Consequential Damages. NOTWITHSTANDING ANY OTHER PROVISION OF THIS
AGREEMENT, IN NO EVENT SHALL ANY PARTY BE LIABLE UNDER THIS AGREEMENT FOR PUNITIVE DAMAGES OR ANY
SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OF ANY KIND OR NATURE, REGARDLESS OF THE
FORM OF ACTION THROUGH WHICH SUCH DAMAGES ARE SOUGHT. IN NO
EVENT SHALL ANY PARTY BE LIABLE UNDER THIS AGREEMENT FOR LOST PROFITS, EVEN IF UNDER
APPLICABLE LAW, SUCH LOST PROFITS WOULD NOT BE CONSIDERED CONSEQUENTIAL OR SPECIAL DAMAGES.
Section 7.03. Notices. (a) All notices, requests, demands, claims, and other
communications hereunder shall be in writing and shall be deemed to have been duly given only if
delivered personally, by facsimile or other electronic transmission services, or by overnight mail,
to the parties hereto at the following addresses (or at such other address for a party as shall be
specified by like notice):
- 10 -
If to AEI:
Xxxxxxx Xxxxx
00 Xxxx Xxxxxx
P.O. Box 190GT
Xxxxxx Town, Grand Cayman
Cayman Islands
Attention: Director
00 Xxxx Xxxxxx
P.O. Box 190GT
Xxxxxx Town, Grand Cayman
Cayman Islands
Attention: Director
With a copy (which shall not constitute notice) to:
AEI Services LLC
000 Xxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, XX 00000
Attention: General Counsel
Facsimile: (000) 000-0000
000 Xxxxx Xxxxxx, Xxxxx 000
Xxxxxxx, XX 00000
Attention: General Counsel
Facsimile: (000) 000-0000
With a copy (which shall not constitute notice) to:
Xxxxxxxx Chance US LLP
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx Xxxxxxx
Facsimile: (000) 000-0000
00 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx Xxxxxxx
Facsimile: (000) 000-0000
If to D.E. Shaw:
D. E. Shaw Laminar Portfolios, L.L.C.
c/o X. X. Xxxx & Co., L.P.
000 Xxxx 00xx Xxxxxx
00xx Xxxxx, Xxxxx 00
Xxx Xxxx, XX 00000
Attention: Xxxxxxx Xxxxx Xxxxxxxxx
Facsimile: (000) 000-0000
c/o X. X. Xxxx & Co., L.P.
000 Xxxx 00xx Xxxxxx
00xx Xxxxx, Xxxxx 00
Xxx Xxxx, XX 00000
Attention: Xxxxxxx Xxxxx Xxxxxxxxx
Facsimile: (000) 000-0000
With a copy (which shall not constitute notice) to:
Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP
Xxx Xxxxxxx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxxx Xxxxx
Facsimile: (000) 000-0000
Xxx Xxxxxxx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxxx Xxxxx
Facsimile: (000) 000-0000
(b) All such notices and other communications shall be deemed to have been given and received
(i) in the case of personal delivery, on the date of such delivery, (ii) in the case of delivery
- 11 -
by facsimile or similar electronic transmission, on the date of such delivery, and (iii) in the case
of delivery by internationally-recognized overnight courier, on the third business day following
dispatch.
Section 7.04. Assignment. No party hereto may assign or transfer its rights or
obligations under this Agreement without the prior written consent of the other party hereto.
Section 7.05. Amendments. This Agreement may not be modified or amended except by an
instrument or instruments in writing signed by the Parties.
Section 7.06. Entire Agreement. This Agreement constitutes the entire agreement
among D.E. Shaw and AEI and supersedes any prior understandings, agreements or representations by
or among them, written or oral, relating to the subject matter hereof.
Section 7.07. Counterparts. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by each of the Parties and delivered
(including by facsimile) to the other Party.
[Signature page to follow.]
- 12 -
IN WITNESS WHEREOF, each of the undersigned, intending to be legally bound, has caused this
Agreement to be duly executed and delivered on the date first set forth above.
AEI |
||||
By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Authorized Representative | |||
D.E. SHAW LAMINAR PORTFOLIOS, L.L.C. |
||||
By: | /s/ Xxxxxxx Xxxx | |||
Name: | Xxxxxxx Xxxx | |||
Title: | Authorized Signatory | |||
- 13 -