FORM OF VOTING TRUST AGREEMENT
EX-99.3.a
FORM OF
THIS VOTING TRUST AGREEMENT (this “Agreement”) is made and entered into effective for all purposes
and in all respects as of [ ], 2012 by and among [ ], as trustee (the
"Trustee” or any successor thereto), [ ], a national banking association, including its
successors and assigns by operation of law (the “Purchaser”) and [ ] (the “Voting
Consultant” or any successor thereto).
WHEREAS, the Purchaser is the legal and Beneficial Owner of [ ] shares of Variable Rate
Muni Term Preferred Shares (“VMTP Shares”) of [ ] (the “Fund”) pursuant to the terms of the
purchase agreement, dated as of [ ], 2012 (the “Closing Date”), by and between the
Purchaser and the Fund (the “Purchase Agreement”);
WHEREAS, the Purchaser desires to transfer and assign irrevocably to the Trustee, and the Trustee
desires to accept such transfer and assignment of, the right to vote and consent for the Purchaser
in connection with all of its voting and consent rights and responsibilities, as set forth in
Section 1 below, as a Beneficial Owner of (i) VMTP Shares acquired by the Purchaser pursuant to the
Purchase Agreement (such VMTP Shares, when owned by the Purchaser, the “Subject Shares”) and (ii)
any additional shares of VMTP Shares or capital stock of any class or series of the Fund having
voting powers of which an Affiliate of the Purchaser is the Beneficial Owner or that the Purchaser
becomes the Beneficial Owner of during the term of this Agreement (any such additional shares of
capital stock of the Fund having voting powers being “Additional Shares” and when so acquired will
become a part of the “Subject Shares” covered by this Agreement);
WHEREAS, the Voting Consultant, appointed pursuant to the Subscription Agreement, shall analyze any
matters requiring the owner of Subject Shares to vote or consent in its capacity as an equity
holder (whether at a meeting or via a consent solicitation and shall provide a recommendation to
the Trustee of how to vote or consent with respect to such voting or consent matters;
WHEREAS, the Voting Consultant and the Trustee are Independent of the Purchaser; and
WHEREAS, the parties hereto desire to set forth in writing their understandings and agreements.
NOW, THEREFORE, in consideration of the foregoing, of the mutual promises hereinafter set forth and
of other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties, intending legally and equitably to be bound, hereby agree as follows:
1. Creation of Trust
The Purchaser hereby irrevocably transfers and assigns to the Trustee, and the Trustee hereby
accepts the transfer and assignment of, the right to vote and consent for the Purchaser in
connection with all of its voting and consent rights as Beneficial Owner of the Subject Shares with
respect to the following matters (collectively, the “Voting Matters”):
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(a) the election of the two members of the Board of Trustees for which holders of VMTP Shares are
exclusively entitled to vote under Section 18(a)(2)(C) of the Investment Company Act of 1940, as
amended (the “1940 Act”) and all other rights given to holders of VMTP Shares with respect to the
election of the Board of Trustees of the Fund;
(b) the conversion of the Fund from a closed-end management investment company to an open-end fund,
or to change the Fund’s classification from diversified to non-diversified, each pursuant to
Section 13(a)(1) of the 1940 Act (any of the foregoing, a “Conversion”), together with any
additional voting or consent right under the Certificate of Designation that relates solely to any
action or amendment to the Certificate of Designation that is so closely related to the Conversion
that it would be impossible to give effect to the Conversion without implicating such additional
voting or consent right; provided that any such additional voting or consent right shall not
include any voting or consent right related to satisfying any additional term, condition or
agreement which the Conversion is conditioned upon or subject to or, for the avoidance of doubt,
any voting or consent right relating to any amendment or waiver of Section 6, 7 or 10 of the
Certificate of Designation or any definitions relevant to any such Section;
(c) the deviation from a policy in respect of concentration of investments in any particular
industry or group of industries as recited in the Fund’s registration statement, pursuant to
Section 13(a)(3) of the 1940 Act (a “Deviation”), together with any additional voting or consent
right under the Certificate of Designation that relates solely to any action or amendment to the
Certificate of Designation that is so closely related to the Deviation that it would be impossible
to give effect to the Deviation without implicating such additional voting or consent right;
provided that any such additional voting or consent right shall not include any voting or consent
right related to satisfying any additional term, condition or agreement which the Deviation is
conditioned upon or subject to or, for the avoidance of doubt, any voting or consent right relating
to any amendment or waiver of Section 6, 7 or 10 of the Certificate of Designation or any definitions
relevant to any such Section; and
(d) borrowing money, issuing senior securities, underwriting securities issued by other Persons,
purchasing or selling real estate or commodities or making loans to other Persons other than in
accordance with the recitals of policy with respect thereto in the Fund’s registration statement,
pursuant to Section 13(a)(2) of the 1940 Act (any of the foregoing, a “Policy Change”), together
with any additional voting or consent right under the Certificate of Designation that relates
solely to any action or amendment to the Certificate of Designation that is so closely related to
the Policy Change that it would be impossible to give effect to the Policy Change without
implicating such additional voting or consent right; provided that any such additional voting or
consent right shall not include any voting or consent right related to satisfying any additional
term, condition or agreement which the Policy Change is conditioned upon or subject to or, for the
avoidance of doubt, any voting or consent right relating to any amendment or waiver of Section
1(b), 6, 7 or 10 of the Certificate of Designation or any definitions relevant to any such Section.
In order to effect the transfer of voting and consent rights with respect to the Voting Matters,
the Purchaser hereby irrevocably appoints and constitutes, and will cause each of its Affiliates
who are Beneficial Owners of any Subject Shares (other than a tender option bond trust to the
extent the Purchaser and not such trust exercises the voting rights with respect to the Voting
Matters in respect of the VMTP Shares held by such trust) to irrevocably appoint and constitute,
the Trustee as its attorney-in-fact and agrees, and agrees to cause each of such Affiliates, to
grant the Trustee one or more irrevocable proxies with respect to the Voting Matters and further
agrees to renew any such proxies that may lapse by their terms while the Subject Shares are still
subject to the Voting Trust Agreement.
The Purchaser will retain all other voting and consent rights under the Related Documents and the
Purchaser, its Affiliates or designee will also be the registered or beneficial owner of the
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VMTP Shares. If any dividend or other distribution in respect of the Subject Shares is paid, such
dividend or distribution will be paid directly to the Purchaser or its Affiliate or designee owning
such Subject Shares; provided, that, any Additional Shares will become part of the Subject Shares
covered by this Agreement.
2. Definitions
“Affiliate” means, with respect to a Person, (i) any other Person who, directly or indirectly, is
in control of, or controlled by, or is under common control with, such Person or (ii) any other
Person who is a director, officer, employee or general partner (a) of such Person, (b) of any
majority-owned subsidiary or parent company of such Person or (c) of any Person described in clause
(i) above. For the purposes of this definition, “control” of a Person shall mean the power, direct
or indirect, (x) to vote more than 25% of the securities having ordinary voting power for the
election of directors of such Person or (y) to direct or cause the direction of the management and
policies of such Person whether by contract or otherwise. For the avoidance of doubt, the term
“Affiliate” shall include a tender option bond trust of which the Purchaser and/or one or more of
its Affiliates collectively owns a majority of the residual interests.
“Beneficial Owner” means, any Person who, directly or indirectly, through any contract,
arrangement, understanding, relationship, or otherwise has or shares (i) voting power which
includes the power to vote, or to direct the voting of, securities and/or (ii) investment power
which includes the power to dispose, or to direct the disposition of, securities.
“Board of Trustees” means the Board of Trustees of the Fund or any duly authorized committee
thereof.
“Certificate of Designation” means the Fund’s Certificate of Designation Establishing and Fixing
the Rights and Preferences of the Variable Rate Muni Term Preferred Shares, as amended from time to
time in accordance with the provisions thereof (including any replacement or successor document as
a result of any merger of the Fund with any other registered closed-end investment company managed
by the Investment Adviser that has issued and sold VMTP Shares to the Purchaser and/or the
redomestication of the Fund to a Delaware statutory trust).
“Excluded Transfer” means any transfer of VMTP Shares (1) to a tender option bond trust in which
the Purchaser and/or its Affiliates collectively own all of the residual interests, (2) in
connection with a distribution in-kind to the holders of securities of or receipts representing an
ownership interest in any tender option bond trust in which the Purchaser and/or its Affiliates own
collectively all of the residual interests, (3) in connection with a repurchase financing
transaction or (4) relating to a collateral pledge arrangement.
“Independent” means, as to any Person, any other Person who (i) does not have and is not committed
to acquire any material direct or any material indirect financial interest in such Person, (ii) is
not connected with such Person as an officer, employee, promoter, underwriter, partner, director or
Person performing similar functions and (iii) is not otherwise subject to the undue influence or
control of such other Person. For purposes of this definition, no Person will fail to be
Independent solely because such Person acts as a voting consultant or trustee in respect of
property owned by another Person or its Affiliates pursuant to this Agreement or any other
agreement. With respect to item (i) above, “material direct or material indirect financial
interest” means, (1) as to any Person, owning directly or indirectly (as principal for such
Person’s own account) at least 5% of any class of the outstanding equity or debt
securities issued by any other Person or (2) with respect to a Person (the “Investor”) owning
directly or indirectly (as principal for the Investor’s own account) outstanding equity or debt
securities of any other Person in an amount at least equal to 5% of the total consolidated
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shareholders equity of the Investor (measured in accordance with U.S. generally accepted accounting
principles).
“Subscription Agreement” means that certain Subscription Agreement No. (—) by and between the
Voting Consultant and the Purchaser, as may be amended from time to time with the prior written
consent of the parties thereto, which Subscription Agreement sets forth additional details,
including fees, pursuant to which the Voting Consultant is providing the services contemplated
hereunder.
Each capitalized term used herein and not otherwise defined herein shall have the meaning provided
therefor (including by incorporation by reference) in the Certificate of Designation.
3. Right to Transfer
The Purchaser shall have the right to sell or otherwise transfer the Subject Shares at any time in
its sole discretion, subject to the transfer restrictions contained in Section 2.02 of the Purchase
Agreement. Upon the transfer of the Subject Shares by the Purchaser to any third party (other than
a transfer to an Affiliate of the Purchaser in which case such Subject Shares shall remain subject
to this Agreement) such Subject Shares shall no longer be subject to this Agreement; provided,
however, in connection with an Excluded Transfer:
(a) of the type specified in clause (1) of the definition of Excluded Transfer, the Subject Shares
shall remain subject to this Agreement until such time as the Fund, upon the request of the
Purchaser, enters into a voting arrangement satisfying Section 12(d)(1)(E)(iii) of the 1940 Act;
(b) of the type specified in clauses (3) or (4) of the definition of Excluded Transfer, to the
extent the Purchaser retains the right to vote or direct voting in connection with such
transactions, the Subject Shares shall remain subject to this Agreement until such time as there is
a default by the Purchaser under such repurchase transaction or collateral pledge arrangement; and
(c) of the type specified in clauses (3) or (4) of the definition of Excluded Transfer, to the
extent the Purchaser does not retain the right to vote or direct voting of such Subject Shares in
such transactions, such transactions do not permit the removal of the Subject Shares’ rights
transferred to the Voting Trust pursuant to this Agreement within the first 60 days of closing of
such transferee becoming the Beneficial Owner of such Subject Shares unless there is a default by
the Purchaser under such repurchase transaction or collateral pledge arrangement.
4. Trustee
(a) Rights And Powers Of Trustee. With respect to Subject Shares where the Purchaser is the
Beneficial Owner, the Trustee shall, in person or by nominees, agents, attorneys-in-fact, or
proxies, have the right and the obligation with respect to all Voting Matters requiring holders of
VMTP Shares to vote or consent with respect to and including voting or consenting to any corporate
or shareholder action of any kind whatsoever, subject to the terms of this Agreement. The Trustee
shall be obligated to vote or consent with respect to any Voting Matter in accordance with Section
7 and the other provisions of this Agreement.
(b) Liability Of Trustee. In exercising the rights and powers of the Trustee, the Trustee will
exercise any rights and powers in the Trustee’s best judgment and in accordance with the
recommendations of the Voting Consultant; provided, however, the Trustee shall not be liable for
any action taken by such Trustee or the Trustee’s agent, except for liability arising from
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the Trustee’s bad faith, wilful misconduct or gross negligence. The Trustee shall not be required to
give any bond or other security for the discharge of the Trustee’s duties.
(c) Resignation of and Successor Trustee. The Trustee may at any time resign the Trustee’s
position as Trustee by delivering a resignation in writing to the Purchaser and the Voting
Consultant to become effective 90 days after the date of such delivery, but in any event such
notice shall not become effective prior to the acceptance of a successor Trustee. The Trustee
shall nominate a successor Trustee acceptable to the Purchaser, who shall have all rights, powers
and obligations of the resigning Trustee as set forth in this Agreement, and all rights, powers and
obligations of the resigning Trustee hereunder shall immediately terminate upon the acceptance by
the successor Trustee of such nomination and the execution of this Agreement by the successor
Trustee as “Trustee” hereunder. No such resignation shall become effective until such time as a
successor Trustee has been appointed and such appointment has been accepted. The fact that any
Trustee has resigned such Trustee’s position as a Trustee shall not act, or be construed to act, as
a release of any Subject Shares from the terms and provisions of this Agreement.
(d) Removal. The Trustee may be removed by the Purchaser (x) upon 30 days prior written notice
upon either (i) a material breach by the Trustee of its obligations hereunder or (ii) any action or
inaction of the Trustee which constitutes bad faith, negligence or wilful misconduct in the
performance of its obligations hereunder and (y) otherwise with the prior written consent of the
Fund in accordance with Section 14 below.
(e) Independent. The Trustee represents that it is Independent of the Purchaser.
5. Voting Consultant
(a) Liability Of Voting Consultant. In providing its voting recommendations on Voting Matters
hereunder, the Voting Consultant will provide such recommendations in the Voting Consultant’s best
judgment as to the best interests of the Purchaser and its Affiliates as holders and beneficial
owners of the Subject Shares with respect to the Voting Matters for the VMTP Shares; provided,
however, the Voting Consultant shall not be liable for any action taken by such Voting Consultant
or the Voting Consultant’s agent, except for liability arising from the Voting Consultant’s bad
faith, wilful misconduct or gross negligence. For the avoidance of doubt, the Voting Consultant’s
maximum liability shall be limited to an amount not to exceed the total amounts of the fees the
Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year
period for any and all claims made within that one year period; provided that if a breach of
Section 5(e) is determined to have occurred, the sole remedy shall be the immediate removal of the
Voting Consultant by the Purchaser in the Purchaser’s sole discretion and no monetary damages shall
be due or payable. In addition, the Voting Consultant shall not be liable for any action taken by
the Trustee contrary to the recommendations provided by the Voting Consultant.
(b) Resignation of and Successor Voting Consultant. The Voting Consultant may at any time resign
the Voting Consultant’s position as Voting Consultant by delivering a resignation in writing to the
Purchaser and to the Trustee to become effective 90 days after the date of such delivery. Upon
receipt of the Voting Consultant’s written resignation, the Purchaser shall use commercially
reasonable efforts to appoint a successor Voting Consultant which has been consented to by the
Trustee, such consent not to be unreasonably withheld. If the Voting Consultant shall resign but a
successor Voting Consultant has not assumed all of the Voting Consultant’s duties and obligations
within 90 days of such resignation, the Voting Consultant may petition any court of competent
jurisdiction for the appointment of a successor Voting Consultant. No such resignation shall
become effective until such time as a successor Voting Consultant has been appointed and such
appointment has been accepted.
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(c) Removal. The Voting Consultant may be removed by the Purchaser (x) upon 30 days prior written
notice upon either (i) a material breach by the Voting Consultant of its obligations hereunder or
(ii) any action or inaction of the Voting Consultant which constitutes bad faith, gross negligence
or wilful misconduct in the performance of its obligations hereunder and (y) otherwise with the
prior written consent of the Fund in accordance with Section 14 below.
(d) Independent. The Voting Consultant represents that it is Independent of the Purchaser;
provided, however, if the Voting Consultant becomes aware that the Voting Consultant is no longer
Independent of the Purchaser, the Voting Consultant shall promptly, and in no event later than two
Business Days after becoming so aware, notify the Purchaser and shall abstain from making voting
recommendations during any period of time during which the Voting Consultant is not Independent of
the Purchaser. If the Voting Consultant notifies the Purchaser that it is no longer Independent of
the Purchaser, the Purchaser shall use commercially reasonable efforts to identify and appoint a
replacement voting consultant.
6. Amount of Subject Shares Notification
On any and each date that the Purchaser sells or otherwise transfers any Subject Shares to another
Beneficial Owner, the Purchaser shall promptly notify the Trustee of such occurrence and the number
of VMTP Shares that the Purchaser then owns.
7. Voting Communications
The Purchaser shall notify the Trustee and the Voting Consultant as soon as possible, and in any
event, not later than two Business Days after receipt of notice that a vote of the holders of VMTP
Shares has been requested or permitted on any Voting Matter and the Purchaser shall, within such
same time frame, forward any information sent to the Purchaser in connection with such vote to the
Trustee and the Voting Consultant by Electronic Means.
The Voting Consultant shall analyze and provide a voting or consent recommendation to the Trustee
with respect to each Voting Matter in respect of the Subject Shares. The Trustee is obligated to
act in accordance with the voting or consent recommendation made by the Voting Consultant in its
voting or consent direction to the Purchaser. In all Voting Matters, the Trustee shall use the
proxies granted to it by the Purchaser to vote or consent the Subject Shares in accordance with the
voting or consent recommendation made by the Voting Consultant and the Purchaser shall not exercise
any voting or consent rights in such matters.
8. Indemnification
(a) Of the Trustee and the Voting Consultant. The Purchaser shall indemnify and hold the Trustee
and the Voting Consultant and such Trustee’s and such Voting Consultant’s agents harmless from and
against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions,
suits, reasonable costs, reasonable expenses or disbursements (including reasonable legal fees and
expenses) of any kind and nature whatsoever in connection with or growing out of (i) with respect
to the Trustee, the administration of the voting trust created by this Agreement or (ii) with
respect to the Trustee and the Voting Consultant, the exercise of any powers or the performance of
any duties by the Trustee or the Voting Consultant as herein provided or contemplated, including,
without limitation, any action taken or omitted to be taken, except, with respect to the Trustee
and the Voting Consultant separately, such as may arise from the bad faith, willful misconduct or
gross negligence of the Trustee or the Voting Consultant, respectively. In no event shall the
Purchaser be liable for special, incidental, indirect or consequential damages.
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(b) Of the Purchaser and the Voting Consultant. The Trustee shall indemnify and hold the Purchaser
and the Voting Consultant and the Purchaser’s and the Voting Consultant’s agents harmless from and
against any and all liabilities, obligations, losses, damages, penalties, taxes, claims, actions,
suits, reasonable costs, reasonable expenses or disbursements (including reasonable legal fees and
expenses) of any kind and nature whatsoever in connection with or growing out of (i) with respect
to the Purchaser, the administration of the voting trust created by this Agreement or (ii) with
respect to the Purchaser and the Voting Consultant, the exercise of any powers or the performance
of any duties by the Purchaser or the Voting Consultant as herein provided or contemplated,
including, without limitation, any action taken or omitted to be taken, except, with respect to the
Purchaser and the Voting Consultant separately, such as may arise from the wilful misconduct or
gross negligence of the Purchaser or the Voting Consultant, respectively. In no event shall the
Trustee be liable for special, incidental, indirect or consequential damages.
(c) Of the Purchaser and the Trustee. The Voting Consultant shall indemnify and hold the Purchaser
and the Trustee and the Purchaser’s and the Trustee’s agents harmless from and against any and all
liabilities, obligations, losses, damages, penalties, taxes, claims, actions, suits, reasonable
costs, reasonable expenses or disbursements (including reasonable legal fees and expenses) of any
kind and nature whatsoever which may be imposed, incurred or asserted against the Purchaser or the
Trustee in connection with or growing out of the bad faith, wilful misconduct or gross negligence
of the Voting Consultant in connection with the exercise of any powers or the performance of any
duties by the Voting Consultant as herein provided or contemplated, including, without limitation,
any action taken or omitted to be taken, except, with respect to the Purchaser and the Trustee
separately, such as may arise from the wilful misconduct or gross negligence of the Purchaser or
the Trustee, respectively; provided, however, that the Voting Consultant’s maximum liability under
this Section 8(c) shall be limited to an amount not to exceed the total amount of the fees the
Voting Consultant receives from the Purchaser under the Subscription Agreement in any one year
period for any and all claims made within that one year period. In no event shall the Voting
Consultant be liable for special, incidental, indirect or consequential damages.
(d) Conditions to Indemnification. An indemnified party must give the other party(ies) prompt
written notice of any claim and allow the indemnifying party to defend or settle the claim as a
condition to indemnification. No settlement shall bind any party without such party’s written
consent.
9. Termination of Agreement
(a) This Agreement and the voting trust created hereby shall terminate with respect to all of the
Subject Shares (i) at the option of the Purchaser, upon the non-payment of dividends on the VMTP
Shares for two years, (ii) at the option of the Purchaser, upon the Purchaser and its Affiliates
owning less than 20% of the Outstanding VMTP Shares or (iii) as provided with respect to certain
transfers of Subject Shares in Section 3 above.
(b) Upon the termination of this Agreement with respect to the Subject Shares, the voting trust
created pursuant to Section 1 hereof shall cease to have any effect with respect to the Subject
Shares, and the parties hereto shall have no further rights or obligations under this Agreement
with respect to the Subject Shares.
10. Trustee’s Compensation
The Trustee shall be entitled to the compensation set forth in the letter agreement between the
Purchaser and the Trustee dated as of [ ], 2012, as may be amended from time to time.
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11. Voting Consultant’s Compensation
The Voting Consultant shall be entitled to the compensation pursuant to the Subscription Agreement.
12. Tax Treatment
It is the intention of the parties hereto that for all federal, state and local income and other
tax purposes the Purchaser or the applicable Beneficial Owner, as the case may be, shall be treated
as the owner of the Subject Shares and, except as otherwise required by law, no party shall take a
contrary position in any tax return or report or otherwise act in a contrary manner.
13. Notices
All notices, requests and other communications to the Purchaser, the Trustee or the Voting
Consultant shall be in writing (including telecopy, electronic mail or similar writing), except in
the case of notices and other communications permitted to be given by telephone, and shall be given
to such party at its address or telecopy number or email address set forth below or to such other
Person and/or such other address or telecopy number or email address as such party may hereafter
specify for the purpose by notice to the other party. Each such notice, request or other
communication shall be effective (i) if given by mail, five days after such communication is deposited in the
mail, return receipt requested, addressed as aforesaid, or (ii) if given by any other means, when
delivered at the address specified in this Section. The notice address for each party is specified
below:
if to the Purchaser:
if to the Trustee:
if to the Voting Consultant:
14. Modification
No modification of this Agreement shall be effective unless in writing and signed by all of the
parties hereto. Without the prior written consent of the Fund, the Purchaser will not agree or
consent to any amendment, supplement, modification or repeal of this Agreement, nor waive any
provision hereof, if any such amendment, supplement, modification, repeal or waiver would (i)
adversely affect the conveyance into the voting trust governed by this Agreement of all Voting
Matters in respect of the Subject Shares or the voting of such Subject Shares in accordance with
this Agreement and the Purchase Agreement or (ii) terminate, replace or change the Voting
Consultant or the Trustee, in each case in effect on the Closing Date; provided, that in the case
of any proposed amendment, supplement, modification or repeal of this Agreement which is a result
of a change in law or regulation or would terminate, replace or change the Voting Consultant or the
Trustee, the consent of the Fund shall not be unreasonably withheld or delayed and the consent of
the Fund shall otherwise be in its sole discretion.
15. Benefit and Burden
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This Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and
their legatees, distributees, estates, executors or administrators, personal and legal
representatives, successors and assigns.
16. Severability
The invalidity of any particular provision of this Agreement shall not affect the validity of the
remainder hereof, and this Agreement shall be construed in all respects as if such invalid or
unenforceable provision were omitted.
17. Headings
The section headings herein are for convenience of reference only, and shall not affect
the construction, or limit or otherwise affect the meaning hereof.
18. Applicable Law
This Agreement shall be construed and enforced in accordance with and governed by the domestic law
of the State of New York.
THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE FEDERAL AND NEW YORK
STATE COURTS LOCATED IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, NEW YORK IN CONNECTION WITH ANY
DISPUTE RELATED TO THIS AGREEMENT OR ANY MATTERS CONTEMPLATED HEREBY.
19. Waiver
THE PURCHASER, THE TRUSTEE AND THE VOTING CONSULTANT HEREBY WAIVE TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF THE PARTIES HERETO AGAINST THE OTHER(S) ON ANY MATTERS
WHATSOEVER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT.
20. Assignment
None of the parties hereto may assign or otherwise transfer any of its rights or obligations under
this Agreement without the prior written consent of the other parties; provided that, without the
consent of either the Trustee or the Voting Consultant, the Purchaser may assign its rights and
obligations under this Agreement (i) to an Affiliate, (ii)
to a successor entity following a consolidation, amalgamation with, or merger with or into such
successor entity or (iii) to a transferee that acquires all or substantially all of the Purchaser’s
assets. Any assignment other than in accordance with this section shall be void.
21. Conflicts with Other Documents
In the event that this Agreement requires any action to be taken with respect to any matter and the
Subscription Agreement requires that a different action be taken with respect to such matter, and
such actions are mutually exclusive, the provisions of this Agreement in respect thereof shall
control.
22. Counterparts
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This Agreement may be executed by the parties hereto in any number of separate counterparts, each
of which shall be deemed to be an original, and all of which taken together shall be deemed to
constitute one and the same instrument. Any counterparty or other signature delivered by facsimile
or by electronic mail shall be deemed for all purposes as being a good and valid execution and
delivery of this Agreement by that party.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth
above.
| [ ], as Purchaser | ||||
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| [ ], as Trustee | ||||
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| [ ], as Voting Consultant | ||||
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