EXCHANGE AGENT & INFORMATION AGENT AGREEMENT
Exhibit 99.6
EXCHANGE AGENT & INFORMATION AGENT AGREEMENT
Date: __________, 2007
Global Bondholder Services Corporation
00 Xxxxxxxx, Xxxxx 000
Xxx Xxxx, Xxx Xxxx 00000
00 Xxxxxxxx, Xxxxx 000
Xxx Xxxx, Xxx Xxxx 00000
Attn: Xxxxxx Eng
Ladies and Gentlemen:
Service Corporation International, a Texas corporation (the “Company”), is offering to
exchange (i) up to $200,000,000 principal amount of its outstanding 6.75% Senior Notes due 2015
(the “Old 2015 Notes”), for up to $200,000,000 principal amount of 6.75% Senior Notes due 2015 (the
“New 2015 Notes”) and (ii) up to $200,000,000 principal amount of its outstanding 7.50% Senior
Notes due 2027 (the “Old 2027 Notes” and, together with Old 2015 Notes, the “Old Notes”), for up to
$200,000,000 principal amount of 7.50% Senior Notes due 2027 (the “New 2027 Notes” and, together
with the New 2015 Notes, the “New Notes”), upon the terms and conditions set forth in its Offer to
Exchange, dated ___, 2007 (the “Offer to Exchange”), and in the related Letter of
Transmittal, copies of which are attached hereto as Exhibits A and B, respectively, and which
together, as they may be amended from time to time, constitute the “Offer.” The “Expiration Date”
shall be 5 p.m. New York City time, on ___, 2007, as may be extended by the Company from
time to time. Capitalized terms used herein but not otherwise defined herein shall have the
meaning provided in the Offer. If there is any conflict between capitalized terms defined in this
Agreement and the Offer, such terms shall have the meaning provided in the Offer.
The Company hereby appoints Global Bondholder Services Corporation to act as exchange agent (the
“Exchange Agent”) and information agent (the “Information Agent”) in connection with the Offer.
References hereinafter to “you” or “your” shall refer to Global Bondholder Services Corporation.
1) Exchange of Notes. In your capacity as Exchange Agent, you will receive
tenders of Old Notes and revocations of tenders of Old Notes. Subject to the terms and conditions
of this Agreement, you are authorized to accept such tenders of Old Notes and revocations of
tenders of Old Notes in accordance with the terms of the Offer, and to act in accordance with the
following instructions:
(a) Tenders of Old Notes may be made only as set forth in the section of the Offer to
Exchange entitled “The Exchange Offer” and as set forth in the Letter of Transmittal. Old Notes
shall be considered validly tendered only if:
(i) | you receive a Confirmation relating to such Old Notes prior to the Expiration Date; and |
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(ii) | the Company has determined that the items received are adequate pursuant to Section 2 of this Agreement. |
(b) For the purpose of this Agreement: (i) a “Confirmation” means (A) an Agent’s Message
confirming the book-entry transfer of Old Notes into a designated account at The Depository Trust
Company (the “Book Entry Transfer Facility”), (B) the delivery of Old Notes in certificate form and
either an Agent’s Message or a properly completed and duly executed Letter of Transmittal (or
facsimile thereof) relating thereto, or (C) if expressly authorized by the Offer, a Notice
of Guaranteed Delivery, in form and substance acceptable to the Company, from an Eligible
Institution guaranteeing delivery of Old Notes prior to the time stated in the Offer for tendering
Old Notes or at a time otherwise acceptable to the Company; (ii) an “Agent’s Message” means a
message (including a printout generated by a computer terminal) transmitted by electronic means by
the Book Entry Transfer Facility, in accordance with the normal procedures of the Book Entry
Transfer Facility and the Exchange Agent, to and received by the Exchange Agent, which states that
the Book Entry Transfer Facility has received an express and unconditional acknowledgment from a
participant in the Book Entry Transfer Facility tendering Old Notes and agreeing to be bound by the
terms of the Offer; (iii) an “Eligible Institution” means a firm that is a member in good standing
of a recognized medallion program approved by the Securities Transfer Association, Inc., or is
otherwise an “eligible guarantor institution” as that term is defined in Rule 17Ad-15 under the
Securities Exchange Act of 1934, as amended; and (iv) a “Notice of Guaranteed Delivery” means a
notice stating an unconditional commitment by an Eligible Institution to deliver securities within
a specified time period.
(c) In connection with the Offer, you are expressly authorized to enter into agreements or
arrangements with the Book Entry Transfer Facility or any other party which, among other things,
provide that (i) delivery of a Confirmation will satisfy the terms of the Offer in accordance with
the terms of the Offer, (ii) such agreements or arrangements are enforceable against the Company by
the Book Entry Transfer Facility, such other party, or any other participant in the Offer, and
(iii) you, as Exchange Agent and Information Agent, are authorized to make any necessary
representations or warranties thereunder.
2) Procedure for Defective Items. (a) You will examine each Confirmation received by
you to determine whether you believe such tender may be defective. In the event you have reason to
believe of the existence of a defect in connection with a tender of Old Notes or a revocation of
tender of Old Notes, you are authorized to notify the person tendering or withdrawing such Old
Notes, its nominee, the Book Entry Transfer Facility, or, if applicable, the Eligible Institution,
of the existence of such defect.
(b) The Company shall retain responsibility for final determinations whether any tender or
revocation of tender is complete and proper. In the event the Company determines that any tender
or revocation of tender is defective, you shall notify the person tendering or withdrawing such Old
Notes, its nominee, the Book Entry Transfer Facility, or, if applicable, the Eligible Institution,
of such determination.
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(c) If less than all of the Old Notes validly tendered pursuant to the Offer are to be
accepted because the Offer is oversubscribed, the Company shall provide you with instructions
regarding proration.
3) Amendment/Extension/Termination of Offer. The Company shall promptly provide you
written notice of any amendment, extension (including extension of the Expiration Date and any
other deadlines), or termination of the Offer.
4) Report of Tender Activity. At or prior to 10:00 a.m. New York City time, or as
promptly as practicable thereafter, on each business day, you shall notify each of the parties
named below of (i) the number of Old Notes duly tendered on the preceding business day; (ii) the
number of Old Notes withdrawn on such preceding business day; and (iii) the cumulative totals of
Old Notes in categories (i) and (ii) above:
(a) | Xxxx X. Xxxxxxxxxx (Company) | ||
(b) | J. Xxxx Xxxxxxx (Xxxxx Xxxxxxx & Xxxx LLP) |
You shall furnish to the Company and the Dealer Manager(s) information regarding the tendering
holders of Old Notes, to the extent such information has been furnished to you, as requested from
time to time.
5) Distribution of Entitlements. If, under the terms and conditions set forth in the
Offer, the Company becomes obligated to accept and pay for Old Notes tendered, the Company shall
deposit with the Book Entry Transfer Facility New Notes and federal or other immediately available
funds in an amount equal to the aggregate purchase price of all Old Notes tendered through the Book
Entry Transfer Facility, in accordance with the terms of the Offer and the notice provided by you
to the Company, specifying the amounts, settlement date and time, and other instructions for such
distributions, in the following account:
Chase Manhattan Bank
Four Xxx Xxxx Xxxxx
Xxx Xxxx, XX 00000
A/C Depositary Trust Company
Reorg Deposit Account # 066-027608
ABA # 000000000
Four Xxx Xxxx Xxxxx
Xxx Xxxx, XX 00000
A/C Depositary Trust Company
Reorg Deposit Account # 066-027608
ABA # 000000000
If Old Notes are tendered in the form of physical certificates to you, the Company shall deposit
with you New Notes and federal or other immediately available funds in an amount equal to the
aggregate purchase price of all Old Notes tendered in physical form, in accordance with the terms
of the Offer and the notice provided by you, in an account designated by you.
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6) Information Agent. In your capacity as Information Agent you shall arrange and
coordinate:
(a) | Printing activities, if requested; | ||
(b) | Estimates of the number of offering materials required; | ||
(c) | Distribution of offering materials to the beneficial owners of Old Notes or the brokers, dealers, custodian banks and other nominees; | ||
(d) | A dedicated toll-free line for all Note holder queries; and | ||
(e) | Reimbursement of brokers, dealers and custodian banks for mailing costs associated with distribution of offering materials, subject to collection from the Company of monies for this purpose. |
7) Instructions and Lists of Note Holders.
(a) You are authorized to act upon the oral and written instructions of the Company, the
Dealer Manager(s), and their respective agents and advisors. Any instructions given to you orally
shall be confirmed in writing, via email or facsimile, as soon as practicable. You shall not be
liable or responsible, and shall be fully authorized and protected, for acting or failing to act
upon any instructions that conflict with a written confirmation or that conflict with prior or
subsequent instructions. In the event you become aware of such a conflict, you will use reasonable
efforts to seek clarification of such instructions.
(b) In order to carry out your duties under this Agreement, the Company will provide to you,
or cause to be provided to you, copies of the lists of holders of the Old Notes as of the record
date of the Offer, showing the names and addresses of, and the principal amount of Old Notes held
by, such holders as reflected on the books and records of the Company, the trustee(s) of the Old
Notes, and the Book Entry Transfer Facility. These lists will specifically identify any holders
who hold Old Notes in the form of physical certificates. You shall be fully authorized and
protected for acting upon these lists; you shall not be liable or responsible for any inaccuracies
or conflicts within or among these lists, nor obligated to verify the accuracy of, or resolve
conflicts among, these lists. In the event you become aware of any such inaccuracy or conflict,
you will use reasonable efforts to seek clarification from the Company.
8) Fees. Whether or not any Old Notes are tendered or the Offer is consummated, for
your services hereunder we shall pay to you compensation in accordance with the fee schedule
attached hereto, together with reimbursement for out-of-pocket expenses, including reasonable fees
and disbursements of your counsel.
9) Authorizations and Protections. You:
(a) | shall have no duties or obligations other than those specifically set forth herein, or as you and the Company may subsequently agree to in writing; |
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(b) | shall have no obligation to make payment for any tendered Old Notes unless (i) Old Notes are tendered to you in physical form accompanied by all completed documentation deemed necessary or desirable by you (including any tax forms), and (ii) the Company shall have provided the necessary federal or other immediately available funds to pay the full amounts due and payable with respect thereto; | ||
(c) | shall be regarded as making no representations and having no responsibilities as to the validity, sufficiency, value, or genuineness of the Old Notes, the New Notes, or the Offer; | ||
(d) | shall not be called upon at any time to advise any person considering tendering Old Notes or revoking a tender of Old Notes pursuant to the Offer as to the wisdom of making such tender or revocation; | ||
(e) | may rely on and shall be authorized and protected in acting or failing to act upon any certificate, instrument, opinion, notice, letter, telegram, telex, facsimile transmission, email, electronic transmission, Confirmation, or other document delivered to you and believed by you to be genuine and to have been signed or transmitted by the proper party or parties; | ||
(f) | may consult counsel satisfactory to you, and the advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered, or omitted by you hereunder in good faith and in accordance with the advice of such counsel; | ||
(g) | shall not be liable or responsible for any statement contained in the Offer or any other statements or documents relating thereto; | ||
(h) | shall not be liable or responsible for any determination or obligation of the Company or of any other person with respect to compliance with any applicable law, regulation, or rule, including applicable securities and tax laws, regulations, and rules, and shall not be obligated to take any legal action in connection with the Offer; | ||
(i) | shall not be liable or responsible for the failure of the Book Entry Transfer Facility, any Eligible Institution or any other party to comply with the terms of the Offer; | ||
(j) | shall have no obligation to pay any brokers, dealers, or soliciting fees to any person; and | ||
(k) | shall not be liable or responsible for any delay, failure, malfunction, interruption or error in the transmission or receipt of communications or messages through electronic means to or from the Book Entry Transfer Facility, any Eligible Institution, any broker, dealer, custodian bank, or any |
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other participant in the Offer, or for the actions or omissions of any person in connection with any such message or communication. |
10) Indemnification.
(a) Except as provided in the last sentence of this Subsection (a), the Company agrees to
release, indemnify, hold harmless, and defend you, your agents, employees and owners (each an
“Indemnified Person”) against any and all claims, demands, actions, losses, liability, judgments,
fines, penalties, expenses, and reasonable attorney’s fees (each a “Loss”) arising out of, claimed
on account of, or in any manner predicated upon, the Offer or the actions or duties of an
Indemnified Person under this Agreement (including actions or duties that are mandatory or
discretionary, or carried out prior or subsequent to the execution of this Agreement). In no event
shall an Indemnified Person be liable for special, indirect, punitive, incidental or consequential
loss or damage of any kind whatsoever (including but not limited to lost profits), even if such
Indemnified Person has been advised of the likelihood of such damages and regardless of the form of
action. In the event a Loss shall have been determined by a court of competent jurisdiction to be
the result of gross negligence, bad faith, or intentional misconduct of an Indemnified Person, the
Company shall release, indemnify, hold harmless, and defend such Indemnified Person in accordance
with this Subsection, except that all Indemnified Persons may be held liable in respect of all
Losses in an aggregate amount limited to the fees paid to you by the Company under this Agreement.
(b) In the event any question or dispute arises with respect to the proper interpretation of
this Agreement, your duties hereunder, or the rights or obligations of the Company, any holder of
Notes, or any other party in interest to the Offer, you shall not be required to act and shall not
be held liable or responsible for your refusal to act until the question or dispute has been
judicially settled (and you may, if you in your sole discretion deem it advisable, but shall not be
obligated to, file a suit in interpleader or for a declaratory judgment for such purpose) by final
judgment rendered by a court of competent jurisdiction, binding on all Note holders and parties
interested in the matter, that is no longer subject to review or appeal, or settled by a written
document in form and substance satisfactory to you and executed by the Company. In addition, you
may require for such purpose, but shall not be obligated to require, the execution of such written
settlement by all of the Note holders and all other parties that may have an interest in the
settlement.
This Section shall survive termination of this Agreement.
11) Termination and Resignation. Unless terminated earlier by the parties hereto,
this Agreement shall terminate upon (a) the Company’s termination or withdrawal of the Offer, or
(b) if the Company does not terminate or withdraw the Offer, the date which is thirty (30) days
after the Expiration Date of the Offer. You may resign from your duties under this Agreement upon
30 days written notice to the Company.
12) Representations, Warranties and Covenants. The Company represents, warrants and
covenants, as of the date hereof and the date of the commencement of the Offer, that (a) it is duly
incorporated, validly existing and in good standing under the laws of its
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jurisdiction of incorporation, (b) the making and consummation of the Offer and the execution,
delivery and performance of all transactions contemplated thereby have been duly authorized by all
necessary corporate action and will not result in a breach of, or constitute a default under, the
certificate of incorporation or bylaws of the Company or any indenture, agreement or instrument to
which it is bound, (c) this Agreement has been duly executed, authorized and delivered by the
Company and constitutes the legal, valid, binding and enforceable obligation of it, (d) the Offer
complies, and will comply, in all material respects with all applicable requirements of law and
regulation, and (e) to the best of its knowledge, there is no litigation pending or threatened in
connection with the Offer.
13) Notices. All notices, requests and other communications required to be in writing
will be delivered to the address or transmitted to the facsimile indicated on the signature page
hereof, or, if requested by a party, transmitted to an email address specified by such party.
14) Records. You shall preserve records and dispose of surplus materials in
accordance with your customary procedures.
15) Miscellaneous.
(a) This Agreement shall be governed by and construed in accordance with the laws of the State
of New York without giving effect to conflict of laws rules or principles.
(b) No provision of this Agreement may be amended, modified or waived, except in a writing
signed by the parties hereto.
(c) In the event that any claim of inconsistency between this Agreement and the terms of the
Offer arise, as they may from time to time be amended, the terms of the Offer shall control, except
with respect to the duties, liabilities and rights, compensation and indemnification of you, which
shall be controlled by the terms of this Agreement.
(d) If any provision of this Agreement shall be held illegal, invalid, or unenforceable by any
court, this Agreement shall be construed and enforced as if such provision had not been contained
herein and shall be deemed an Agreement between us to the full extent permitted by applicable law.
(e) This Agreement may not be assigned by any party without the prior written consent of the
other party. This Agreement shall be binding upon, inure to the benefit of, and be enforceable by,
the respective successors and permitted assigns of the parties hereto.
(f) You shall not be liable for any failure or delay arising out of conditions beyond your
reasonable control including, but not limited to, work stoppages, fires, civil disobedience, riots,
rebellions, storms, electrical, mechanical, computer or communications facilities failures, acts of
God or similar occurrences.
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(g) This Agreement may be executed in two or more counterparts, each of which shall be deemed
to be an original and all of which together shall constitute one and the same agreement.
Please acknowledge receipt of this Agreement, and confirm the arrangements herein provided, by
signing and returning the enclosed copy hereof, whereupon this Agreement and your acceptance of the
terms and conditions herein provided shall constitute a binding Agreement between us.
Very truly yours, SERVICE CORPORATION INTERNATIONAL |
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By: | ||||
Name: | Xxxx X. Xxxxxxxxxx | |||
Title: | Senior Vice President and Chief Financial Officer Address for notices: 0000 Xxxxx Xxxxxxx Xxxxxxx, XX 00000 Facsimile: 000-000-0000 |
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Accepted and agreed to by:
GLOBAL BONDHOLDER SERVICES CORPORATION
as EXCHANGE AGENT & INFORMATION AGENT
as EXCHANGE AGENT & INFORMATION AGENT
By: | ||||
Name: | Xxxxxx Eng | |||
Title: | Managing Director Address for notices: 00 Xxxxxxxx, Xxxxx 000 Xxx Xxxx, XX 00000 Facsimile: 212-430-3775 or 000-000-0000 |
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EXHIBIT A
GLOBAL BONDHOLDER SERVICES CORPORATION
Fee Schedule
Exchange Agent and Information Agent
GLOBAL BONDHOLDER SERVICES CORPORATION
Fee Schedule
Exchange Agent and Information Agent
I. | Exchange Agent Services | $ | 5,000.00 | |||||
Includes the following: | ||||||||
I. | Assigned deal administrator | |||||||
· | Offer material review |
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· | System set-up and file conversions |
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· | DTC ATOP system set-up requirements |
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· | Daily report generation and distribution |
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· | Guarantee of Deliver items |
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· | Withdrawal from offer items |
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· | Calculation, creation and reconcilement of checks |
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· | Preparing and filing Form 1099B with tendering bondholders
and appropriate government agencies |
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· | Calculation, creation and distribution of new issue(s) |
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II. | Extensions of Offer, each | $ | 1,500.00 | |||||
III. | Midnight Expirations | $ | 1,500.00 | |||||
IV. | Information Agent Fee | $ | 5,000.00 | |||||
Includes the following: | ||||||||
· | Assigned deal administrator |
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· | Dedicated toll-free ‘800’ Offer information hot-line |
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· | Coordinate the distribution of Offer material to registered shareholders |
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· | Coordinate the distribution of Offer material to ‘street’ shareholders |
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· | Assist in the coordination of all printing activities and advertisement
placement |
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· | Establishing contacts with brokers, dealers, banks and other nominees |
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· | Determining the material requirements |
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· | Status reporting to management |
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· | Payment of all broker forwarding invoices, subject to collection from you of
monies for this purpose |
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V. | Outgoing Calls (if required), each | $ | 5.00 | |||||
VI. | Inbound Calls, each | $ | 4.50 | |||||
VII. | Out of-pocket expenses, (including overtime, printing, postage, stationary, telephone expenses, mailing service costs, etc.), Additional |
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