Exhibit 99.1
SOLUTIA EUROPE SA/NV
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EURO 200,000,000 10.00% NOTES DUE 2008
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AMENDMENT NO. 1 TO FISCAL AGENCY AGREEMENT
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AND TERMS AND CONDITIONS OF NOTES
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THIS AMENDMENT NO. 1 TO FISCAL AGENCY AGREEMENT AND TERMS AND CONDITIONS OF
NOTES (this "AMENDMENT") dated 9 November, 2004 is AMONG:
(1) SOLUTIA EUROPE SA/NV a societe anonyme/naamloze vennootschap
(limited liability company) organized under the laws of Belgium and
registered in the Legal Entities Register under number 0460.474.440
(the "ISSUER");
(2) KREDIETBANK S.A. LUXEMBOURGEOISE acting through its office at 00
xxxxxxxxx Xxxxx, 0000 Xxxxxxxxxx, as fiscal agent and paying agent
(Kredietbank S.A. Luxembourgeoise or any successors, assigns or
additional fiscal and paying agent appointed hereunder being called
the "FISCAL AGENT");
(3) KBC BANK NV acting through its registered office at Xxxxxxxxx 0,
0000 Xxxxxxxx, Xxxxxxx, and registered in the Legal Entities
Register under number 0462.920.226 and with VAT number BE
462.920.226, as principal paying agent (KBC Bank NV or any
successors or assigns being called the "PRINCIPAL PAYING AGENT" or
together with the Fiscal Agent, the "PAYING AGENTS"); and
(4) KBC BANK NV acting through its registered office at Xxxxxxxxx 0,
0000 Xxxxxxxx, Xxxxxxx, and registered in the Legal Entities
Register under number 0462.920.226, as principal paying agent (KBC
Bank NV or any successors or assigns being called the "COLLATERAL
AGENT").
W I T N E S S E T H
WHEREAS, on 11 February 2000, the Issuer agreed to issue euro 200,000,000
6.25 percent Notes due 2005 (the "ORIGINAL NOTES") pursuant to a
subscription agreement dated 11 February 2000, and the Paying Agents,
subject to the terms and conditions set forth in a fiscal agency agreement
dated 11 February 2000 agreed to act as the fiscal agent, paying agent and
principal paying agent in respect of the Original Notes.
WHEREAS, the Issuer agreed to amend and restate the Original Notes as euro
200,000,000 10.00 percent Notes due 2008 together with the Terms and
Conditions of Notes annexed thereto and incorporated by reference therein
(the Terms and Conditions of Notes, as amended, modified or supplemented
from time to time, including all exhibits and schedules thereto, and
including the modifications contemplated by this Amendment, the "TERMS AND
CONDITIONS OF NOTES" and such Notes, as amended, modified, supplemented or
replaced from time to time, including all exhibits and schedules thereto,
the "NOTES") in accordance with a meeting of the holders of the Original
Notes held on 29 January 2004 pursuant to article 568 of the Belgian
Companies Code. In connection therewith, the Issuer entered into certain
agreements, including, without limitation
(i) the Fiscal Agency Agreement dated 11 February 2004 with the Paying
Agents (as amended, modified or supplemented from time to time, the "FISCAL
AGENCY AGREEMENT"), (ii) the Agreement of Understanding and Restructuring
dated 30 January 2004 with the holders of the Notes party thereto (the
"AGREEMENT OF UNDERSTANDING") and (iii) the Collateral Agency Agreement
dated 11 February 2004 with the Subsidiary Guarantors party thereto, the
Collateral Agent and the holders of the Notes party thereto (as amended,
modified or supplemented from time to time, the "COLLATERAL AGENCY
AGREEMENT"). The Terms and Conditions of the Notes are annexed as Schedule 1
to the Fiscal Agency Agreement and the Collateral Agency Agreement is
annexed as Schedule 6 to the Fiscal Agency Agreement.
WHEREAS, in accordance with Clause 13 and Schedule 5 to the Fiscal Agency
Agreement and at the direction of the Issuer, a meeting of the holders of
the Notes was held at the offices of Xxxxx & Xxxxx LLP at Xxxxxxxxxxxx 000X,
0000 Xxxxxxxx, Xxxxxxx on 8 November, 2004, in accordance with article 568
of the Belgian Company Code (the "THIRD NOTEHOLDERS' MEETING") to consider
the resolutions set forth in the convening notice (the "THIRD NOTEHOLDERS'
MEETING NOTICE") sent and published by or on behalf of the Issuer.
WHEREAS, a quorum of two or more persons holding or representing at least 50
percent of the aggregate principal amount of the Notes Outstanding was
present at the Third Noteholders' Meeting, and holders holding or
representing at least 75 percent of the aggregate principal amount of the
Notes Outstanding present or represented at the Third Noteholders' Meeting
agreed at the Third Noteholders' Meeting to adopt the resolutions set forth
in the minutes of the Third Noteholders' Meeting attached as Exhibit A
hereto (the "THIRD NOTEHOLDERS' MEETING MINUTES") and, subject to the
provisions set forth in the Third Noteholders' Meeting Minutes, to
consummate the transactions contemplated by this Amendment, including,
without limitation, the amendments set forth herein providing for the Pharma
Sale and the application of at least 95 percent of the Net Cash Proceeds
thereof to redeem the Notes, all as more specifically set forth herein and
therein.
WHEREAS, the Board of Directors of the Issuer has approved on behalf of the
Issuer the resolutions approved by the Third Noteholders' Meeting and the
consummation of the transactions contemplated by the resolutions approved by
the Third Noteholders' Meeting and this Amendment.
WHEREAS, the Issuer will submit the Dutch and French versions of the
resolutions of the Third Noteholders' Meeting to the registry of the
commercial court for publication in the Belgian Official Gazette (such
notice the "ISSUER PUBLICATION NOTICE") and cause the resolutions of the
Third Noteholders' Meeting to be published in accordance with the laws of
Belgium.
NOW, THEREFORE, for due and valuable consideration, the sufficiency of which
is hereby acknowledged, the parties hereto hereby agree as follows:
Section 1. DEFINED TERMS. Capitalized terms used herein (including
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the recitals) and not otherwise defined herein have the respective meanings
assigned to them in the Terms and Conditions of Notes.
Section 2. AMENDMENTS TO THE TERMS AND CONDITIONS OF THE NOTES.
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(a) The Terms and Conditions of Notes are hereby amended by
amending and restating Section 5(a)(i) in its entirety as follows:
"(i) The Issuer may, at its option, redeem the Notes in whole or in
part in increments of not less than (euro)10,000,000 in principal
amount of the Notes, upon at least 30 days' but not more than 60
days' notice to the Fiscal Agent, the Collateral Agent and the
Noteholders, in each case solely with Net Cash Proceeds actually
received by any Credit Party from any Disposition of assets
permitted by these Terms and Conditions of Note at their principal
amount together with interest accrued (if any) thereon and arrears
of interest (if any) in respect thereof to but excluding the date
fixed for redemption, and any Additional Amounts payable under the
Notes; provided however, that notwithstanding the foregoing, the
Issuer shall be required to redeem the Notes in increments of
(euro)1,000 or whole multiples of (euro)1,000 upon at least 30 days
but not more than 60 days' notice to the Fiscal Agent, Collateral
Agent and the Noteholders, with at least 95 percent of the Net Cash
Proceeds actually received by the Issuer or any of its Subsidiaries
from the Pharma Sale at a redemption price of 109.00% of the
principal amount of Notes so redeemed, it being understood that
such Net Cash Proceeds shall be applied to both redeem the relevant
principal amount of Notes, pay the related redemption premium of
such principal amount and pay all accrued and unpaid interest on
such principal amount so redeemed through but excluding the date
fixed for redemption. In furtherance and not in limitation of the
foregoing, the Issuer undertakes to calculate the Net Cash Proceeds
of the Pharma Sale and deliver a notice commencing the process for
the required redemption of the Notes set forth above to the Fiscal
Agent within two weeks after the closing of the Pharma Sale."
(b) The Terms and Conditions of the Notes are hereby amended by
amending and restating Section 5(a)(iii)(1) in its entirety as follows:
"(1) If the Issuer elects to redeem Notes pursuant to the optional
redemption provisions of clause (i) or (ii) above or is required to
redeem Notes pursuant to the redemption provisions of clause (i)
above, it will furnish to the Fiscal Agent, the Collateral Agent
and the Noteholders, at least 30 days, but not more than 60 days,
before a redemption date, an officers' certificate setting forth
(w) the section of these Terms and Conditions of Notes pursuant to
which the redemption shall occur, (x) the redemption date, (y) the
principal amount of Notes to be redeemed and (z) the redemption
price."
(c) The Terms and Conditions of the Notes are hereby amended by
deleting the word "optional" in the first sentence of Section 5(a)(iii)(2).
(d) The Terms and Conditions of Notes are hereby amended by adding
the following paragraph after the last paragraph of Section 7(a).
"Notwithstanding anything in Section 7(a) to the contrary, (i) none
of the Credit Parties shall be required to pledge to the Collateral
Agent the Capital Stock of any Subsidiary of the Issuer, Carbogen
or Amcis that is formed to facilitate the Pharma Sale, (ii) any
Subsidiary of the Issuer, Carbogen or Amcis that is formed to
facilitate the Pharma Sale shall not be required to pledge to the
Collateral Agent any intercompany loan made to such Subsidiary, and
(iii) none of the Credit Parties or any Subsidiary that is formed
in anticipation of or to facilitate the Pharma Sale shall otherwise
be required to comply with the requirements of this Section 7(a)
with respect to such Subsidiary so long as the Pharma Sale is
consummated on or prior to the applicable date set forth in the
definition of Pharma Sale. The Issuer shall be deemed to have
satisfied the requirements of Section 13.8(b) of the Mortgage
Mandate (hypothecaire volmacht) dated 11 February 2004 made by the
Issuer in favor of the Collateral Agent (the "MORTGAGE MANDATE")
which requires the Issuer to use its best efforts to obtain the
consent of the Gemeentelijk Havenbedrijf (the "PORT AUTHORITY",
i.e. the public authority responsible for the management of the
Antwerp port) to the Mortgage Mandate and to the granting of a
mortgage in relation to the Antwerp Property, it being understood
that the Issuer shall have no further obligation with respect to
the actions contemplated thereby unless otherwise expressly
requested by Requisite Noteholders."
(e) The Terms and Conditions of Notes are hereby amended by adding
the following paragraph as Section 8(c)(D):
"(D) the Credit Parties may undertake the Pharma Sale to the extent
that the Net Cash Proceeds thereof are applied to redeem the Notes
as further provided in Section 5 hereof. If the Credit Parties
undertake the Pharma Sale:
(1) Immediately prior to the closing of the Pharma Sale, the Issuer
shall deliver to the Collateral Agent and the Committee or its
counsel at the last known address an officers' certificate (i)
stating that the relevant Collateral subject to the Pharma Sale is
being sold or otherwise disposed of in compliance with the terms
and conditions of the Terms and Conditions of the Notes, (ii)
specifying the Capital Stock and other Collateral being sold or
otherwise disposed of in the Pharma Sale (the "PHARMA COLLATERAL")
and (iii) stating that the Net Cash Proceeds of the Pharma Sale
will be calculated and a notice commencing the process for the
redemption of the Notes on the terms and conditions set forth in
Section 5 will be delivered to the Fiscal Agent within two weeks
after the closing of the Pharma Sale. Upon the receipt of such
officers' certificate, the Collateral Agent shall, at the Issuer's
expense, execute and deliver release and termination documentation
in substantially the forms annexed as Attachments 2 - 12 to the
Agreement of Understanding, (v) to release, in accordance with
applicable laws, all collateral pledged by Amcis and Carbogen
pursuant to the Collateral Documents entered into by Amcis and
Carbogen, as the case may be, (w) to remove from the scope of the
security created pursuant to the Collateral Documents entered into
by the Issuer, the assets of the Issuer transferred pursuant to the
Pharma Sale, and to grant all waivers necessary thereunder to
permit the
Issuer to dispose of such assets, (x) to terminate or cancel all
Collateral Documents entered into by Amcis or Carbogen, as the case
may be and in accordance with applicable law, (y) in the event any
of the stock of Amcis or Carbogen, as the case may be, is sold or
otherwise transferred in connection with the Pharma Sale or Amcis
or Cabogen, as the case may be, are to be dissolved or otherwise
cease to exist in connection with or following the Pharma Sale,
terminate or cancel the Pledge Agreements entered into by the
Issuer relating to the pledge of stock of Amcis and Carbogen, and
(z) to provide that any such release or removal of collateral and
waiver, amendment, cancellation or termination of such Collateral
Documents and disposal of assets will not constitute an Event of
Default under the Notes or any of the Credit Documents.
(2) Upon the receipt of an officers' certificate stating that the
Issuer reasonably expects the Pharma Sale to close within 7
Business Days, the Collateral Agent shall, at the Issuer's expense,
execute and deliver release and termination documentation in
substantially the forms annexed as Attachments 13 and 14 to the
Agreement of Understanding, (a) to remove, in accordance with
applicable laws, from the scope of the security created pursuant to
the Collateral Documents and to grant all waivers necessary
thereunder to that effect, any intercompany loans from the Issuer
or SSI to Amcis or Carbogen, (b) to amend, in accordance with
applicable law, all Collateral Documents entered into by the Issuer
or SSI, as the case may be, to effectuate the transaction
contemplated in clause (a) above, and (c) to provide that any such
release or removal of collateral and waiver, amendment,
cancellation or termination of such Collateral Documents and
disposal of assets will not constitute an Event of Default under
the Notes or any of the Credit Documents. In the event that the
above-referenced release and termination documentation is executed
and delivered, and the Issuer subsequently determines that the
Pharma Sale is not reasonably expected to close on or prior to 1
September 2005 or that the Pharma Sale is not reasonably expected
to close within 45 days of the execution and delivery of such
release and termination documentation, the Collateral Agent shall,
at the Issuer's expense, execute and deliver such documentation and
take such other actions as the Requisite Noteholders may instruct
for the purpose of pledging or otherwise granting to the Collateral
Agent a first priority perfected security interest in such
intercompany loans."
(f) The Terms and Conditions of Notes are hereby amended by adding
the following proviso at the end of the first proviso set forth in Section
8(f) thereof:
"; and provided further that, (i) the Issuer, Amcis, Carbogen or
any Subsidiary of the Issuer, Amcis or Carbogen created to
facilitate the Pharma Sale may purchase or acquire assets of its
Affiliates relating to the Pharma Sale for fair consideration not
to exceed Euro 2,500,000 and on terms no less favorable to it than
would be obtainable in a comparable arms length transaction with a
Person that is not an Affiliate, and (ii) no Credit Documents need
to be amended and no additional Credit Documents need to be entered
into by the purchaser as a result of the purchase of such assets
described in clause (i) of this proviso so long as
the Pharma Sale is consummated on or prior to the applicable date
set forth in the definition of Pharma Sale."
(g) The Terms and Conditions of Notes are hereby amended by adding
the following sentence at the end of Section 8(l) thereof:
"Notwithstanding the foregoing, the Issuer may become and remain
liable as lessee with respect to a lease of the real property
referred to in Section 8(c)(iv) hereof located at Louvain-la-Neuve,
Belgium that is sold or otherwise disposed of by the Issuer in
accordance with Section 8(c)(iv) hereof (any such sale and
leaseback transaction is referred to as the "LOUVAIN
SALE-LEASEBACK"). The Collateral Agent is instructed by the
Requisite Noteholders to release its liens on the interests in real
property sold by the Issuer subject to the Louvain Sale-Leaseback
(it being understood that any leasehold real property interests of
the Issuer that are held by the Issuer after giving effect to such
transaction or transactions shall be subject to such mortgage or
equivalent security in accordance with Belgian law) and amend in
accordance with any applicable laws any relevant Collateral
Documents entered into by the Issuer, to the extent necessary,
immediately prior to the Louvain Sale-Leaseback."
(h) The Terms and Conditions of Notes are hereby amended by adding
the following at the end of Section 9(f) thereof:
"; provided that no breach or Event of Default arising under this
Section 9(f) shall occur or be deemed to have occurred relating to
the grant and creation of a legal, valid and enforceable security
interest in the Capital Stock owned by the Issuer in itself or any
failure to disclose such Lien pursuant to any Credit Document."
(i) The Terms and Conditions of Notes are hereby amended by adding
the following at the end of Section 9(m)(i) thereof:
"; and such Form 8-K shall also include a narrative discussion and
analysis in reasonable detail of the business, financial condition,
results of operations and liquidity of the Issuer and its
Subsidiaries as of the end of such fiscal quarter, together with a
brief description of the material developments in the business of
the Issuer and its Subsidiaries over such fiscal period."
(j) The Terms and Conditions of Notes are hereby amended by adding
the following at the end of Section 9(m)(ii) thereof:
"; and such Form 8-K shall also include a narrative discussion and
analysis in reasonable detail of the business, financial condition,
results of operations and liquidity of the Issuer and its
Subsidiaries as of the end of such fiscal year, together with a
brief description of the material developments in the business of
the Issuer and its Subsidiaries over such fiscal period."
(k) The Terms and Conditions of Notes are hereby amended by adding
the following sentence at the end of the last paragraph of Section 9
thereof:
"In no event shall the consummation of the Pharma Sale or the
release of Liens, the release and termination or amendment of the
Subsidiary Guaranties and Collateral Documents, or the removal from
the scope of the security created pursuant to the Collateral
Documents and the granting of waivers necessary thereunder to that
effect, of any intercompany loans from the Issuer or SSI to Amcis
or Carbogen and the amendment of any Collateral Documents relating
thereto, in each case as contemplated by, and in accordance with,
Section 8(c)(D) hereof in connection with the Pharma Sale,
constitute an Event of Default and in no event shall the release of
Liens or the amendment of Collateral Documents contemplated by the
second sentence of Section 8(l) hereof in connection with the
Louvain Sale-Leaseback, constitute an Event of Default. In
addition, in no event shall any attempt by the Issuer or any other
Credit Party to sell or otherwise dispose of the Capital Stock of
Amcis or Carbogen constitute a breach under Section 5.4(d) of the
Share Pledge Agreements dated 11 February 2004 made by the Issuer
in favor of the Collateral Agent providing for the pledge by the
Issuer of the Capital Stock of Amcis and Carbogen (the "SWISS
PLEDGE AGREEMENTS") or constitute an Event of Default hereunder."
(l) The Terms and Conditions of Notes are hereby amended by adding
to Section 19 thereof the following proviso at the end of the definition of
"Subsidiary Guarantor":
"; provided that each of Amcis and Carbogen shall automatically
cease to be a Subsidiary Guarantor immediately prior to the
consummation of the Pharma Sale on the terms and conditions set
forth herein."
(m) The Terms and Conditions of Notes are hereby amended by adding
to Section 19 the following proviso at the end of the definition of
"Subsidiary Guaranty":
"; provided that the Subsidiary Guaranties of each of Amcis and
Carbogen shall be terminated automatically immediately prior to the
consummation of the Pharma Sale on the terms and conditions set
forth herein."
(n) The Terms and Conditions of Notes are hereby amended by adding
to Section 19 the following definitions, which shall be inserted in proper
alphabetical order:
"`Agreement of Understanding' means the Agreement of Understanding
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and Waivers dated as of 9 November 2004 among the Issuer and the
Noteholders party thereto."
"`Amendment' means Amendment No. 1 to Fiscal Agency Agreement and
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Terms and Conditions of Notes dated as of 9 November 2004 among the
Issuer, the Paying Agents and the Collateral Agent."
"`Committee' means an ad hoc committee of the holders of the Notes
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comprised of funds and accounts managed by Mariner Investment
Group, Inc., Post Advisory Group, LLC and Watershed Asset
Management L.L.C."
"`Louvain Sale-Leaseback' has the meaning specified therefor in
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Section 8(l) of the Terms and Conditions of Notes."
"`Mortgage Mandate' has the meaning specified therefor in Section
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7(a) of the Terms and Conditions of Notes."
"`Pharma Collateral' has the meaning specified therefor in Section
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8(c)(D)(1) of the Terms and Conditions of Notes."
"`Pharma Sale' means the sale of the Solutia Group's pharmaceutical
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services division, offering a comprehensive portfolio of services
to the pharmaceutical and biopharmaceutical industry at all stages
of drug development, related intellectual property, specified
contracts relating to the pharmaceutical business and advisory
services relating thereto, which may include (i) the sale of assets
of any or all of the following: the Issuer, Carbogen, Amcis or any
Subsidiary of the Issuer, Carbogen or Amcis created to facilitate
the Pharma Sale and/or (ii) the sale of some or all of the stock of
Carbogen, Amcis or any Subsidiary of the Issuer, Carbogen or Amcis
created to facilitate the Pharma Sale, all to the extent that such
assets constitute part of the pharmaceutical services division, all
to the extent that unless otherwise agreed to by the Requisite
Noteholders or the Committee in writing, (a) the Board of Directors
of the Issuer has determined, as set forth in a board resolution, a
copy of which has been delivered to the Collateral Agent and the
Requisite Noteholders or the Committee at the address of their last
known counsel, that (i) the Issuer is receiving fair value in
connection with the Pharma Sale and the Pharma Sale is to a Person
or Persons that is not an Affiliate of the Issuer, (ii) the Pharma
Sale is in the best interest of the Issuer, (iii) the Issuer and
its Subsidiaries will receive not less than 90% of the total
consideration received by the Solutia Group in connection with the
Pharma Sale and (iv) not less than 75% of the Net Cash Proceeds to
be received by the Issuer and its Subsidiaries in connection with
the Pharma Sale are received by the Issuer and its Subsidiaries at
the consummation of the sale in cash or cash equivalents, (b) such
sale shall be consummated on or prior to 1 September 2005 and (c)
the Issuer shall apply at least 95 percent of the Net Cash Proceeds
actually received by the Credit Parties from the Pharma Sale to
redeem the Notes in accordance with Section 5 hereof."
"`Solutia Group' means Solutia Inc. and its domestic and foreign
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subsidiaries."
"`Swiss Pledge Agreements' has the meaning specified therefor in
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Section 9 of the Terms and Conditions of Notes."
Section 3. MISCELLANEOUS.
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(a) This Amendment may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of which when
so executed and delivered
shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument; signature pages may be detached
from multiple separate counterparts and attached to a single counterpart so
that all signature pages are physically attached to the same document. This
Amendment shall become effective upon the execution of a counterpart hereof
by each party hereof and the publication of the Issuer Publication Notice in
the Belgium Official Gazette and shall constitute a Credit Document.
(b) In case any provision in or obligation under this Amendment
shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or
obligations, or of such provision or obligation in any other jurisdiction,
shall not in any way be affected or impaired thereby. In case of any such
illegality, invalidity or unenforceability, the parties shall negotiate in
good faith with a view to agree on the replacement of such provision by a
provision which is legal, valid and enforceable and which is to the extent
practicable in accordance with the intents and purposes of this Amendment
and which in economic effect comes as close as practicable to the provision
being replaced.
(c) This Amendment is executed in English only, and no translation
thereof shall be binding on the parties hereto or consulted in order to
interpret this Amendment.
(d) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE
STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.
(e) Upon the execution of this Amendment and the publication of the
Issuer Publication Notice in the Belgium Official Gazette, the Terms and
Conditions of Notes and the Notes theretofore issued shall be deemed to be
modified and amended in accordance with this Amendment, and all the terms
and conditions of this Amendment shall be and be deemed to be part of the
Terms and Conditions of Notes and the Notes theretofore issued for any and
all purposes.
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IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed as of the date first written above.
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SOLUTIA EUROPE SA/NV
By: /s/ Xxxxxxx Xxxxxxxx
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Name: Xxxxxxx Xxxxxxxx
Title: Proxy Holder
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KREDIETBANK S.A. LUXEMBOURGEOISE, as
fiscal agent
By: /s/ Xxxx Xx Xxxxxx
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Name: Xxxx Xx Xxxxxx
Title: Head Operations and
Accounting; Proxy Holder
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KBC BANK NV, as principal paying agent
By: /s/ Xxxx Xx Xxxxxx
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Name: Xxxx Xx Xxxxxx
Title: Head Operations and
Accounting; Proxy Holder
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KBC BANK NV, as collateral agent
By: /s/ Xxxx Xx Xxxxxx
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Name: Xxxx Xx Xxxxxx
Title: Head Operations and
Accounting; Proxy Holder
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