DOBSON COMMUNICATIONS CORPORATION SENIOR FLOATING RATE NOTES DUE 2012 REGISTRATION RIGHTS AGREEMENT
Exhibit 10.1
EXECUTION VERSION
XXXXXX COMMUNICATIONS CORPORATION
SENIOR FLOATING RATE NOTES DUE 2012
September 13, 2005
Xxxxxx Brothers Inc.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Bear, Xxxxxxx & Co. Inc.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
000 Xxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xxxxxx Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
Xxxxxx Communications Corporation, an Oklahoma corporation (the “Company”), proposes to issue
and sell (the “Initial Placement”) to Xxxxxx Brothers Inc., Bear, Xxxxxxx & Co. Inc. and Xxxxxx
Xxxxxxx Co. Incorporated, as representatives of the Initial Purchasers listed on Schedule I
(the “Initial Purchasers”) upon terms set forth in a purchase agreement dated as of September 7,
2005 (the “Purchase Agreement”) among the Company and the Initial Purchasers, $150,000,000 of its
Senior Floating Rate Notes due 2012 (the “Initial Notes”). As an inducement to you to enter into
the Purchase Agreement and purchase the Initial Notes and in satisfaction of a condition to your
obligations under the Purchase Agreement, the Company agrees with you for the benefit of the
holders from time to time of the Initial Notes (including the Initial Purchasers) (each of the
foregoing a “Holder” and together the “Holders”), as follows:
1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:
“Affiliate” of any specified person means any other person that, directly or
indirectly, is in control of, is controlled by, or is under common control with, such
specified person. For purposes of this definition, control of a person means the
power, direct or indirect, to direct or cause the direction of the management and
policies of such person whether by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing.
“Closing Date” has the meaning set forth in the Purchase Agreement.
“Commission” means the Securities and Exchange Commission.
“Company” has the meaning set forth in the preamble hereto.
“Damages Payment Date” means, with respect to the Initial Notes, each date on
which interest is paid in accordance with the Indenture.
“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder.
“Exchange Offer” means the proposed offer to the Holders to issue and deliver
to such Holders, in exchange for the Notes, a like aggregate principal amount of Exchange
Notes.
“Exchange Offer Registration Period” means the longer of (A) the period until
the consummation of the Exchange Offer and (B) one year after effectiveness of the Exchange
Offer Registration Statement, exclusive of any period during which any stop order shall be
in effect suspending the effectiveness of the Exchange Offer Registration Statement;
provided, however, that in the event that all resales of Exchange Notes (including, subject
to the time periods set forth herein, any resales by Exchanging Dealers) covered by such
Exchange Offer Registration Statement have been made, the Exchange Offer Registration
Statement need not remain continuously effective for the period set forth in clause (B)
above.
“Exchange Offer Registration Statement” means a Registration Statement of the
Company on an appropriate form under the Securities Act with respect to the Exchange Offer,
all amendments and supplements to such Registration Statement, including post-effective
amendments, in each case including the Prospectus contained therein, all exhibits thereto
and all material incorporated by reference therein.
“Exchange Notes” means securities issued by the Company, identical in all
material respects to the Notes to be issued under the Indenture (except that they will not
contain terms with respect to transfer restrictions or Additional Interest).
“Exchanging Dealer” means any Holder (which may include the Initial
Purchasers) that is a broker-dealer, electing to exchange Notes acquired for its own
account as a result of market-making activities or other trading activities for Exchange
Notes.
“Holder” has the meaning set forth in the preamble hereto.
“Indenture” means the Indenture, dated as of September 13, 2005, between the
Company and The Bank of Oklahoma, National Association, as trustee, pursuant to which the
Notes are to be issued, as such Indenture is amended or supplemented from time to time in
accordance with the terms thereof.
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“Initial Notes” means the Senior Floating Rate Notes due 2012, of the same
series under the Indenture as the Exchange Notes, for so long as such securities constitute
Transfer Restricted Securities.
“Initial Placement” has the meaning set forth in the preamble hereto.
“Initial Purchasers” has the meaning set forth in the preamble hereto.
“Losses” has the meaning set forth in Section 6(d) hereto.
“Majority Holders” means the Holders of a majority of the aggregate principal
amount of Notes registered under a Registration Statement.
“Managing Underwriters” means the investment banker or investment bankers and
manager or managers that shall administer an underwritten offering under a Shelf
Registration Statement.
“Notes” means the Initial Notes and Exchange Notes.
“Offering Memorandum” has the meaning set forth in the Purchase Agreement.
“Prospectus” means the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted
from a prospectus filed as part of an effective registration statement in reliance upon
Rule 430A under the Securities Act), as amended or supplemented by any prospectus
supplement, with respect to the terms of the offering of any portion of the Notes covered
by such Registration Statement, and all amendments and supplements to the Prospectus,
including post-effective amendments.
“Purchase Agreement” has the meaning set forth in the preamble hereto.
“Registration Default” has the meaning set forth in Section 5(b) hereof.
“Registration Statement” means any Exchange Offer Registration Statement or
Shelf Registration Statement pursuant to the provisions of this Agreement, amendments and
supplements to such registration statement, including post-effective amendments, in each
case including the Prospectus contained therein, all exhibits thereto, and all material
incorporated by reference therein.
“Securities Act” means the Securities Act of 1933, as amended, and the rules
and regulations of the Commission promulgated thereunder.
“Shelf Registration” means a registration effected pursuant to Section 3
hereof.
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“Shelf Registration Period” has the meaning set forth in Section 3(b) hereof.
“Shelf Registration Statement” means a “shelf” registration statement of the
Company pursuant to the provisions of Section 3 hereof, which covers some or all of the
Initial Notes or Exchange Notes, as applicable, on an appropriate form under Rule 415 under
the Securities Act, or any similar rule that may be adopted by the Commission, amendments
and supplements to such registration statement, including post-effective amendments, in
each case including the Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein.
“Target Effectiveness Date” has the meaning set forth in Section 5(b) hereof.
“Transfer Restricted Securities” means each Note until the earliest to occur
of: (i) the date on which such Note has been exchanged by a Person other than a
broker-dealer for an Exchange Note in the Exchange Offer; (ii) following the exchange by a
broker-dealer in the Exchange Offer of a Note for an Exchange Note, the date on which such
Exchange Note is sold to a purchaser who receives from such broker-dealer on or prior to
the date of such sale a copy of the Prospectus contained in the Exchange Offer Registration
Statement; (iii) the date on which such Note has been effectively registered under the
Securities Act and disposed of in accordance with the Shelf Registration Statement; and
(iv) the date on which such Note is distributed to the public pursuant to Rule 144 under
the Securities Act.
“Trust Indenture Act” means the Trust Indenture Act of 1939, as amended.
“Trustee” means The Bank of Oklahoma, National Association and any successors
thereto.
“Underwriter” means any underwriter of Notes in connection with an offering
thereof under a Shelf Registration Statement.
“Underwritten Registration” or “Underwritten Offering” means a
registration in which the Notes of the Company are sold to an underwriter for reoffering to
the public.
2. Exchange Offer; Resales of Exchange Notes by Exchanging Dealers; Private Exchange.
(a) The Company shall prepare and file with the Commission the Exchange Offer
Registration Statement with respect to the Exchange Offer on or before the 90th calendar
day after the Closing Date. The Company shall use its commercially reasonable efforts (i)
to cause the Exchange Offer Registration Statement to be declared effective under the
Securities Act on or prior to the 180th calendar day following the Closing Date and remain
effective until the
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closing of the Exchange Offer and (ii) to consummate the Exchange Offer
not later than the 30th calendar day after the effective date of the Exchange Offer
Registration Statement, unless a longer time is required by the federal securities laws.
(b) Upon the effectiveness of the Exchange Offer Registration Statement, the Company
shall promptly commence the Exchange Offer, it being the objective of such Exchange Offer
to enable each Holder electing to exchange Initial Notes for Exchange Notes (assuming that
such Holder (x) is not an “affiliate” of the Company within the meaning of the Securities
Act, (y) is not a broker-dealer that acquired the Initial Notes in a transaction other than
as a part of its market-making or other trading activities and (z) if such Holder is not a
broker-dealer, acquires the Exchange Notes in the ordinary course of such Holder’s
business, is not participating in the distribution of the Exchange Notes and has no
arrangements or understandings with any person to participate in the distribution of the
Exchange Notes) to resell such Exchange Notes from and after their receipt without any
limitations or restrictions under the Securities Act and without material restrictions
under the securities laws of a substantial proportion of the several states of the United
States.
(c) In connection with the Exchange Offer, the Company shall mail to each Holder a
copy of the Prospectus forming part of the Exchange Offer Registration Statement, together
with an appropriate letter of transmittal and related documents, stating, in addition to
such other disclosures as are required by applicable law:
(i) that the Exchange Offer is being made pursuant to this Agreement and that
all Notes validly tendered will be accepted for exchange;
(ii) the dates of acceptance for exchange;
(iii) that any Notes not tendered will remain outstanding and continue to
accrue interest, but will not retain any rights under this Agreement;
(iv) that Holders electing to have Notes exchanged pursuant to the Exchange
Offer will be required to surrender such Notes, together with the enclosed letters
of transmittal, to the institution and at the address specified in the notice prior
to the close of business on the last day of acceptance for exchange; and
(v) that Holders will be entitled to withdraw their election, not later than
the close of business on the last day of acceptance for exchange, by sending to the
institution and at the address specified in the notice a telegram, telex, facsimile
transmission or letter setting forth the name of such Holder, the aggregate
principal amount of Notes delivered for
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exchange and a statement that such Holder
is withdrawing his election to have such Notes exchanged; and shall keep the
Exchange Offer open for acceptance for not less than 30 days (or longer if required
by applicable law) after the date notice thereof is mailed to the Holders; utilize
the services of a depositary for the Exchange Offer with an address in the Borough
of Manhattan, The City of New York; and comply in all respects with all applicable
laws relating to the Exchange Offer.
(d) As soon as practicable after the close of the Exchange Offer, the Company shall:
(i) accept for exchange all Notes duly tendered and not validly withdrawn
pursuant to the Exchange Offer;
(ii) deliver to the Trustee for cancellation all Notes so accepted for
exchange; and
(iii) cause the Trustee promptly to authenticate and deliver to each Holder
Exchange Notes equal in principal amount to the Notes of such Holder so accepted
for exchange.
(e) The Initial Purchasers and the Company acknowledge that, pursuant to
interpretations by the staff of the Commission of Section 5 of the Securities Act, and in
the absence of an applicable exemption therefrom, each Exchanging Dealer is required to
deliver a Prospectus in connection with a sale of any Exchange Notes received by such
Exchanging Dealer pursuant to the Exchange Offer in exchange for Notes acquired for its own
account as a result of market-making activities or other trading activities. Accordingly,
the Company shall:
(i) include the information set forth in Annex A hereto on the cover of the
Exchange Offer Registration Statement, in Annex B hereto in the forepart of the
Exchange Offer Registration Statement in a section setting forth details of the
Exchange Offer, in Annex C hereto in the underwriting or plan of distribution
section of the Prospectus forming a part of the Exchange Offer Registration
Statement, and in Annex D hereto in the letter of transmittal delivered pursuant to
the Exchange Offer; and
(ii) use its commercially reasonable efforts to keep the Exchange Offer
Registration Statement continuously effective under the Securities Act during the
Exchange Offer Registration Period for delivery of the prospectus included therein
by Exchanging Dealers in connection with sales of Exchange Notes received pursuant to the Exchange Offer, as
contemplated by Section 4(h) below; provided, however, that the Company shall not
be required to maintain the effectiveness of the Exchange Offer Registration
Statement for more than 30 days following the consummation of the Exchange Offer
unless the Company has been
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notified in writing on or prior to the 30th day
following the consummation of the Exchange Offer by one or more Exchanging Dealers
that such Holder has received Exchange Notes as to which it will be required to
deliver a prospectus upon resale.
(f) In the event that an Initial Purchaser determines that it is not eligible to
participate in the Exchange Offer with respect to the exchange of Notes constituting any
portion of an unsold allotment, upon the effectiveness of the Shelf Registration Statement
as contemplated by Section 3 hereof and at the request of the Initial Purchasers, the
Company shall issue and deliver to the Initial Purchasers, or to the party purchasing
Initial Notes registered under the Shelf Registration Statement from the Initial
Purchasers, in exchange for such Initial Notes, a like principal amount of Exchange Notes.
The Company shall use its commercially reasonable efforts to cause the CUSIP Service Bureau
to issue the same CUSIP number for such Exchange Notes as for Exchange Notes issued
pursuant to the Exchange Offer.
(g) The Company shall use its commercially reasonable efforts to complete the Exchange
Offer as provided above and shall comply with the applicable requirements of the Securities
Act, the Exchange Act and other applicable laws and regulations in connection with the
Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that
(i) the Exchange Offer does not violate applicable law or any applicable interpretation of
the staff of the Commission, (ii) no action or proceeding shall have been instituted or
threatened in any court or by any governmental agency which might materially impair the
ability of the Company to proceed with the Exchange Offer, and no material adverse
development shall have occurred in any existing action or proceeding with respect to the
Company and (iii) all governmental approvals shall have been obtained, which approvals the
Company deems necessary for the consummation of the Exchange Offer. The Company shall
inform the Initial Purchasers, upon their request, of the names and addresses of the
Holders to whom the Exchange Offer is made, and the Initial Purchasers shall have the
right, subject to applicable law, to contact such Holders and otherwise facilitate the
tender of Notes in the Exchange Offer.
(h) As a condition to its participation in the Exchange Offer pursuant to the terms of
this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the
request of the Company, prior to the consummation thereof, a written representation to the
Company (which may be contained in the letter of transmittal contemplated by the Exchange
Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company,
(B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any person to participate in, a distribution of the Exchange Notes to be issued in the
Exchange Offer, (C) it is acquiring the Exchange Notes in its ordinary course of business
and (D) if such Holder is an Exchanging Dealer, then it will deliver a Prospectus in
connection with any resale of such Exchange Notes. In addition, all such Holders of
Transfer Restricted Securities shall otherwise cooperate in the
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Company’s preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any broker-dealer and
any such Holder using the Exchange Offer to participate in a distribution of the securities
to be acquired in the Exchange Offer (1) could not under Commission policy as in effect on
the date of this Agreement rely on the position of the Commission enunciated in Xxxxxx
Xxxxxxx and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in the Commission’s letter to
Shearman & Sterling dated July 2, 1993, and similar no-action letters, and (2) must comply
with the registration and prospectus delivery requirements of the Securities Act in
connection with a secondary resale transaction and that such a secondary resale transaction
should be covered by an effective registration statement containing the selling security
holder information required by Item 507 or 508, as applicable, of Regulation S-K if the
resales are of Exchange Notes obtained by such Holder in exchange for Initial Notes
acquired by such Holder directly from the Company.
3. Shelf Registration. If (i) because of any change in law or applicable
interpretations thereof by the Commission’s staff, the Company determines upon advice of its
outside counsel that it is not permitted to effect the Exchange Offer as contemplated by Section 2
hereof, or (ii) the Company is not required to file the Exchange Offer Registration Statement for
any reason other than those specified in clause (i) above, or (iii) with respect to any Holder of
Transfer Restricted Securities, such Holder notifies the Company in writing on or prior to the 20th
day following consummation of the Exchange Offer that (A) such Holder is prohibited by applicable
law or Commission policy from participating in the Exchange Offer, or (B) such Holder may not
resell the Exchange Notes acquired by it in the Exchange Offer to the public without delivering a
prospectus and that the Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder, or (C) such Holder is an Exchanging
Dealer and holds Initial Notes acquired directly from the Company or one of its affiliates (it
being understood that, for purposes of this Section 3, (x) the requirement that the Initial
Purchasers deliver a Prospectus containing the information required by Items 507 and/or 508 of
Regulation S-K under the Securities Act in connection with sales of Exchange Notes acquired in
exchange for such Notes shall result in such Exchange Notes being not “freely tradeable” and (y)
the requirement that an Exchanging Dealer deliver a Prospectus in connection with sales of Exchange
Notes acquired in the Exchange Offer in exchange for Notes acquired as a result of market-making
activities or other trading activities shall not result in such Exchange Notes being not “freely
tradeable”), the following provisions shall apply:
(a) The Company shall use its commercially reasonable efforts to file with the
Commission a Shelf Registration Statement relating to the offer and sale of the Notes or
the Exchange Notes, as applicable, by the Holders from time to time in accordance with the methods of distribution elected by such Holders and set
forth in such Shelf Registration Statement and Rule 415 under the Securities Act, provided
that, with respect to Exchange Notes received by the Initial Purchasers in exchange for
Initial Notes constituting any portion of an unsold allotment, the Company may, if
permitted by current interpretations by the
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Commission’s staff, file a post-effective
amendment to the Exchange Offer Registration Statement containing the information required
by Regulation S-K Items 507 and/or 508, as applicable, in satisfaction of its obligations
under this paragraph (a) with respect thereto, and any such Exchange Offer Registration
Statement, as so amended, shall be referred to herein as, and governed by the provisions
herein applicable to, a Shelf Registration Statement.
(b) The Company shall use its commercially reasonable efforts to cause the Shelf
Registration Statement to be filed on or prior to the 90th calendar day after, and declared
effective under the Securities Act on or prior to the 180th calendar day after, the
obligation to file a Shelf Registration Statement under this Section 3 arises and to keep
such Shelf Registration Statement continuously effective for a period of two years from the
date the Shelf Registration Statement is declared effective by the Commission or such
shorter period that will terminate when all the Initial Notes or Exchange Notes, as
applicable, covered by the Shelf Registration Statement have been sold pursuant to the
Shelf Registration Statement or are no longer Transfer Restricted Securities (in any such
case, such period being called the “Shelf Registration Period”). The Company shall be
deemed not to have used its commercially reasonable efforts to keep the Shelf Registration
Statement effective during the requisite period if the Company voluntarily takes any action
that would result in Holders of Notes covered thereby not being able to offer and sell such
Notes during that period, unless (i) such action is required by applicable law, (ii) the
Company complies with this Agreement or (iii) such action is taken by the Company in good
faith and for valid business reasons (not including avoidance of the Company’s obligations
hereunder), including the acquisition or divestiture of assets, so long as the Company
promptly thereafter complies with the requirements of Section 4(m) hereof, if applicable.
4. Registration Procedures. In connection with any Shelf Registration Statement
and, to the extent applicable, any Exchange Offer Registration Statement, the following
provisions shall apply:
(a) The Company shall, within a reasonable time prior to the filing of any
Registration Statement, any Prospectus, any amendment to a Registration Statement or
amendment or supplement to a Prospectus, provide copies of such document to the Initial
Purchasers and their counsel (and, in the case of a Shelf Registration Statement, the
Holders and their counsel, upon their request) and make such representatives of the Company
as shall be reasonably requested by the Initial Purchasers or their counsel (and, in the
case of a Shelf Registration Statement, the Majority Holders or their counsel) available
for discussion of such document, and shall not at any time file or make any amendment to
the Registration Statement, any Prospectus or any amendment of or supplement to a
Registration Statement or a Prospectus, of which the Initial Purchasers and their counsel
(and, in the case of a Shelf Registration Statement, the Holders and their counsel) shall
not have previously been advised and furnished a copy or to which the Initial Purchasers or
their counsel (and, in the case of a Shelf Registration
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Statement, the Majority Holders or
their counsel) shall object, except for any amendment or supplement or document (a copy of
which has been previously furnished to the Initial Purchasers and their counsel (and, in
the case of a Shelf Registration Statement, the Majority Holders and their counsel, upon
their request)) which counsel to the Company shall advise the Company, in the form of a
written opinion, is required in order to comply with applicable law; the Initial Purchasers
agree that, if it receives timely notice and drafts under this clause (a), it will not take
actions or make objections pursuant to this clause (a) such that the Company is unable to
comply with its obligations under Section 2.
(b) The Company shall ensure that:
(i) any Registration Statement and any amendment thereto and any Prospectus
contained therein and any amendment or supplement thereto complies in all material
respects with the Securities Act and the rules and regulations thereunder;
(ii) any Registration Statement and any amendment thereto does not, when it
becomes effective, contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements
therein not misleading; and
(iii) any Prospectus forming part of any Registration Statement, including any
amendment or supplement to such Prospectus, does not include an untrue statement of
a material fact or omit to state a material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made, not
misleading.
(c) (1) The Company shall advise the Initial Purchasers and, in the case of a Shelf
Registration Statement, the Holders of Initial Notes covered thereby, and, if requested by
the Initial Purchasers or any such Holder, confirm such advice in writing:
(i) when a Registration Statement and any amendment thereto has been filed
with the Commission and when the Registration Statement or any post-effective
amendment thereto has become effective; and
(ii) of any request by the Commission for amendments or supplements to the
Registration Statement or the Prospectus included therein or for additional
information.
(2) During the Shelf Registration Period or the Exchange Offer Registration Period, as
applicable, the Company shall advise the Initial Purchasers and, in the case of a Shelf Registration Statement, the Holders of Initial Notes or
Exchange Notes covered thereby, and, in the case of an Exchange Offer Registration
Statement, any Exchanging Dealer that has provided in writing to the Company a telephone or
facsimile number and address for notices, and, if
10
requested by the Initial Purchasers or
any such Holder or Exchanging Dealer, confirm such advice in writing:
(i) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or the initiation of any proceedings
for that purpose;
(ii) of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Initial Notes or Exchange Notes included
therein for sale in any jurisdiction or the initiation or threatening of any
proceeding for such purpose; and
(iii) of the happening of any event that requires the making of any changes in
the Registration Statement or the Prospectus so that, as of such date, the
Registration Statement or the Prospectus does not include an untrue statement of a
material fact or omit to state a material fact necessary to make the statements
therein (in the case of the Prospectus, in light of the circumstances under which
they were made) not misleading (which advice shall be accompanied by an instruction
to suspend the use of the Prospectus until the requisite changes have been made).
(d) The Company shall use its commercially reasonable efforts to obtain the withdrawal
of any order suspending the effectiveness of any Registration Statement at the earliest
possible time.
(e) The Company shall furnish to each Holder of Notes covered by any Shelf
Registration Statement that so requests, without charge, at least one copy of such Shelf
Registration Statement and any post-effective amendment thereto, including financial
statements and schedules, and, if the Holder so requests in writing, all exhibits thereto.
(f) The Company shall, during the Shelf Registration Period, deliver to each Holder of
Notes covered by any Shelf Registration Statement, without charge, as many copies of the
Prospectus (including each preliminary Prospectus) included in such Shelf Registration
Statement and any amendment or supplement thereto as such Holder may reasonably request;
and the Company consents to the use of the Prospectus or any amendment or supplement
thereto by each of the selling Holders of Notes in connection with the offering and sale of
the Notes covered by the Prospectus or any amendment or supplement thereto.
(g) The Company shall furnish to each Exchanging Dealer that so requests, without
charge, at least one copy of the Exchange Offer Registration Statement and any
post-effective amendment thereto, including financial statements and schedules, any documents incorporated by reference therein and, if the
Exchanging Dealer so requests in writing, all exhibits thereto.
(h) The Company shall, during the Exchange Offer Registration Period, promptly deliver
to each Exchanging Dealer, without charge, as many
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copies of the Prospectus included in
such Exchange Offer Registration Statement and any amendment or supplement thereto as such
Exchanging Dealer may reasonably request for delivery by such Exchanging Dealer in
connection with a sale of Exchange Notes received by it pursuant to the Exchange Offer; and
the Company consents to the use of the Prospectus or any amendment or supplement thereto by
any such Exchanging Dealer, as provided in Section 2(e) above.
(i) Each Holder of Notes and each Exchange Dealer agrees by its acquisition of such
Notes or Exchange Notes to be sold by such Exchange Dealer, as the case may be, that, upon
actual receipt of any notice from the Company of the happening of any event of the kind
described in paragraph (c)(2)(i), (c)(2)(ii), or (c)(2)(iii) of this Section 4, such Holder
will forthwith discontinue disposition of such Notes covered by such Registration Statement
or Prospectus or Exchange Notes to be sold by such Holder or Exchange Dealer, as the case
may be, until such Holder’s or Exchange Dealer’s receipt of the copies of the supplemented
or amended Prospectus contemplated by Section 4(m) hereof, or until it is advised in
writing by the Company that the use of the applicable Prospectus may be resumed, and has
received copies of any amendments or supplements thereto. In the event that the Company
shall give any such notice, the Exchange Offer Registration Period shall be extended by the
number of days during such periods from and including the date of the giving of such notice
to and including the date when each seller of the Exchange Notes covered by such
Registration Statement or Exchange Notes to be sold by such Exchange Dealer, as the case
may be, shall have received (x) the copies of the supplemented or amended Prospectus
contemplated by Section 4(m) hereof or (y) the advice in writing.
(j) Prior to the Exchange Offer or any other offering of Initial Notes or Exchange
Notes pursuant to any Registration Statement, the Company shall register or qualify or
cooperate with the Holders of Notes included therein and their respective counsel in
connection with the registration or qualification of such Initial Notes or Exchange Notes
for offer and sale under the securities or blue sky laws of such states as any such Holders
reasonably request in writing and do any and all other acts or things necessary or
advisable to enable the offer and sale in such states of the Notes covered by such
Registration Statement; provided, however, that the Company will not be required to qualify
as a foreign corporation or as a dealer in securities in any jurisdiction in which it is
not then so qualified, to file any general consent to service of process or to take any
action that would subject it to general service of process in any such jurisdiction where
it is not then so subject or to subject itself to taxation in respect of doing business in
any jurisdiction in which it is not otherwise so subject.
(k) The Company shall issue, upon the request of any Holder of Initial Notes covered
by the Shelf Registration Statement, Exchange Notes, having an aggregate principal amount
equal to the aggregate principal amount of Initial Notes surrendered to the Company by such
Holder in exchange therefor or being sold by such Holder; such Exchange Notes to be
registered in the name of such Holder or in the name of the purchaser(s) of such Exchange
Notes, as the case
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may be; in return, the Initial Notes held by such Holder shall be
surrendered to the Company for cancellation.
(l) The Company shall cooperate with the Holders to facilitate the timely preparation
and delivery of certificates representing Initial Notes or Exchange Notes to be sold
pursuant to any Registration Statement free of any restrictive legends and in denominations
of $1,000 or an integral multiple thereof and registered in such names as Holders may
request prior to sales of Initial Notes or Exchange Notes pursuant to such Registration
Statement.
(m) Upon the occurrence of any event contemplated by paragraph (c)(2)(iii) of this
Section 4, the Company shall promptly prepare and file a post-effective amendment to any
Registration Statement or an amendment or supplement to the related Prospectus or any other
required document so that, as thereafter delivered to purchasers of the Initial Notes or
Exchange Notes included therein, the Prospectus will not include an untrue statement of a
material fact or omit to state any material fact necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading and, in the case
of a Shelf Registration Statement, notify the Holders to suspend use of the Prospectus as
promptly as practicable after the occurrence of such an event. Notwithstanding the
foregoing, the Company shall not be required to amend or supplement a Shelf Registration
Statement, any related Prospectus or any document incorporated therein by reference, for a
period not to exceed an aggregate of 30 days in any six-month period or 60 days in any
12-month period, if the Company determines in its good faith judgment that the disclosure
of such event at such time would have a material adverse effect on the business,
operations, or prospects of the Company or the disclosure otherwise related to a pending
material business transaction that has not yet been publicly disclosed.
(n) Not later than the effective date of any such Registration Statement hereunder,
the Company shall provide a CUSIP number for the Initial Notes or Exchange Notes, as the
case may be, registered under such Registration Statement, and provide the Trustee with
certificates for such Initial Notes or Exchange Notes, in a form eligible for deposit with
The Depository Trust Company.
(o) The Company shall use its commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission and shall make generally available to
its security holders as soon as practicable after the effective date of the applicable
Registration Statement an earnings statement meeting the requirements of Rule 158 under the
Securities Act.
(p) The Company shall cause the Indenture to be qualified under the Trust Indenture
Act not later than the effective date of the first Registration Statement required by this
Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of
Initial Notes or Exchange Notes to effect such changes to the Indenture as may be required
for such Indenture to be so qualified
13
in accordance with the terms of the Trust Indenture
Act; and to execute and use its best efforts to cause the Trustee to execute, all documents
that may be required to effect such changes and all other forms and documents required to
be filed with the Commission to enable such Indenture to be so qualified in a timely
manner.
(q) The Company may require each Holder of Notes to be sold pursuant to any Shelf
Registration Statement to furnish to the Company such information regarding the Holder and
the distribution of such Initial Notes as the Company may from time to time reasonably
require for inclusion in such Registration Statement.
(r) The Company shall, if requested, promptly incorporate in a Prospectus supplement
or post-effective amendment to a Shelf Registration Statement, such information as the
Managing Underwriters, if any, and Majority Holders reasonably agree should be included
therein concerning such Holders or the distribution of such Holders’ Notes, and shall make
all required filings of such Prospectus supplement or post-effective amendment promptly
upon notification of the matters to be incorporated in such Prospectus supplement or
post-effective amendment.
(s) In the case of any Shelf Registration Statement, the Company shall enter into such
agreements (including underwriting agreements) and take all other appropriate actions in
order to expedite or to facilitate the registration or the disposition of any Initial Notes
included therein, and in connection therewith, if an underwriting agreement is entered
into, cause the same to contain indemnification provisions and procedures no less favorable
than those set forth in Section 6 (or such other provisions and procedures acceptable to
the Majority Holders and the Managing Underwriters, if any) with respect to all parties to
be indemnified pursuant to Section 6.
(t) In the case of any Shelf Registration Statement, the Company shall:
(i) make reasonably available for inspection by the Holders of Notes to be
registered thereunder, any underwriter participating in any disposition pursuant to
such Shelf Registration Statement, and any attorney, accountant or other agent
retained by the Holders or any such underwriter all relevant financial and other
records, pertinent corporate documents and properties of the Company and any of its
subsidiaries;
(ii) cause the Company’s officers, directors and employees to supply all
relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with any such
Registration Statement as is customary for similar due diligence examinations and
make such representatives of the Company as shall be reasonably requested by the
Initial Purchasers or Managing Underwriters, if any, available for discussion of
any such Registration Statement;
14
provided, however, that any non-public information
that is designated in writing by the Company, in good faith, as confidential at the
time of delivery of such information shall be kept confidential by the Holders or
any such underwriter, attorney, accountant or agent, unless (x) such disclosure is
made in connection with a court proceeding or required by law, provided that each
Holder and any such Managing Underwriter, attorney, accountant or agent will, upon
learning that disclosure of such information is sought in a court proceeding or
required by law, give written notice to the Company to allow the Company to
undertake appropriate action to prevent disclosure, or (y) such information becomes
available to the public generally or through a third party without an accompanying
obligation of confidentiality other than as a result of a disclosure of such
information by any such Holder, underwriter, attorney, accountant or agent;
(iii) make such representations and warranties to the Holders of Notes
registered thereunder and the underwriters, if any, in form, substance and scope as
are customarily made by issuers to underwriters in similar underwritten offerings
as may be reasonably requested by them;
(iv) obtain opinions of counsel to the Company and updates thereof (which
counsel and opinions (in form, scope and substance) shall be reasonably
satisfactory to the Managing Underwriters, if any) addressed to each selling Holder
and the underwriters, if any, covering such matters as are customarily covered in
opinions requested in similar underwritten offerings and such other matters as may
be reasonably requested by such Holders and underwriters;
(v) obtain “cold comfort” letters and updates thereof from the independent
certified public accountants of the Company (and, if necessary, any other
independent certified public accountants of any subsidiary of the Company or of any
business acquired by the Company for which financial statements and financial data
are, or are required to be, included in the Registration Statement), addressed to
the underwriters, if any, and use reasonable efforts to have such letter addressed
to the selling Holders of Notes registered thereunder (to the extent consistent
with Statement on Auditing Standards No. 72 of the American Institute of Certified
Public Accountants (AICPA) (“SAS 72”)), in customary form and covering matters of
the type customarily covered in “cold comfort” letters in connection with similar
underwritten offerings, or if the provision of such “cold comfort” letters is not
permitted by SAS 72 or if requested by the Initial Purchasers or their counsel in
lieu of a “cold comfort” letter, an agreed-upon procedures letter under Statement on Auditing
Standards No. 75 of the AICPA, covering matters requested by the Initial Purchasers
or their counsel; and
15
(vi) deliver such documents and certificates as may be reasonably requested by
the Majority Holders and the Managing Underwriters, if any, and customarily
delivered in similar offerings, including those to evidence compliance with Section
4(m) and with any conditions contained in the underwriting agreement or other
agreement entered into by the Company.
The foregoing actions set forth in clauses (iii), (iv), (v) and (vi) of this Section
4(t) shall be performed, to the extent reasonably requested by the Managing Underwriters,
at (A) the effectiveness of such Shelf Registration Statement and each post-effective
amendment thereto and (B) each closing under any underwriting or similar agreement as and
to the extent required thereunder.
(u) The Company shall, in the case of a Shelf Registration, use its commercially
reasonable efforts to cause all Notes to be listed on any securities exchange or any
automated quotation system on which similar securities issued by the Company are then
listed if requested by the Majority Holders, to the extent such Notes satisfy applicable
listing requirements.
5. Registration Expenses; Remedies.
(a) The Company shall bear all expenses incurred in connection with the performance of
its obligations under Sections 2, 3 and 4 hereof, including without limitation: (i) all
Commission, stock exchange or National Association of Securities Dealers, Inc. registration
and filing fees, (ii) all fees and expenses incurred in connection with compliance with
state securities or blue sky laws (including reasonable fees and disbursements of counsel
for any underwriters or Holders in connection with blue sky qualification of any of the
Exchange Notes or Initial Notes), (iii) all expenses of any persons in preparing or
assisting in preparing, word processing, printing and distributing any Registration
Statement, any Prospectus, any amendments or supplements thereto, any underwriting
agreements, securities sales agreements and other documents relating to the performance of
and compliance with this Agreement, (iv) the fees and disbursements of the Trustee and its
counsel, (v) the fees and disbursements of counsel for the Company and, in the case of a
Shelf Registration Statement, reasonable fees and disbursements of one counsel for the
Holders (which counsel shall be selected by the Majority Holders and which counsel may also
be counsel for the Initial Purchasers) and in the case of any Exchange Offer Registration
Statement, reasonable fees and expenses of counsel to the Initial Purchasers acting in
connection therewith and (vi) the fees and disbursements of the independent public
accountants of the Company including the expenses of any special audits or “cold comfort”
letters required by or incident to such performance and compliance, but excluding fees and
expenses of counsel to the underwriters (other than fees and expenses set forth in clause
(ii) above) or the Holders and underwriting discounts and commissions and transfer taxes,
if any, relating to the sale or disposition of Notes by a Holder.
16
(b) In the event that the Company:
(i) fails to file the Exchange Offer Registration Statement or Shelf
Registration Statement, as the case may be, on or before the date specified for
either such filing;
(ii) either such registration statement is not declared effective by the
Commission on or prior to the date specified for such effectiveness (the
‘‘Effectiveness Target Date’’);
(iii) the Company fails to consummate the Exchange Offer within 30 days of the
Effectiveness Target Date with respect to the Exchange Offer Registration
Statement; or
(iv) the Shelf Registration Statement or the Exchange Offer Registration
Statement is declared effective but thereafter ceases to be effective or usable in
connection with the resales of Transfer Restricted Securities during the periods
specified in this Registration Rights Agreement (each such event referred to in
this clause and clauses (i) through (iii) above, a “Registration Default”),
then the Company will pay additional interest (“Additional Interest”) to each holder of
Initial Notes or Exchange Notes, with respect to the first 90-day period immediately
following the occurrence of the first Registration Default in an amount equal to $0.05 per
week per $1,000 principal amount of Initial Notes or Exchange Notes held by that holder.
The amount of the Additional Interest will increase by an additional $0.05 per week per
$1,000 principal amount of Initial Notes or Exchange Notes with respect to each subsequent
90-day period until all Registration Defaults have been cured, up to a maximum amount of
Additional Interest for all Registration Defaults of $0.50 per week per $1,000 principal
amount of Initial Notes or Exchange Notes. Additional Interest shall not accrue or be
payable for more than one Registration Default at any given time, and shall accrue only for
those days that a Registration Default occurs and is continuing.
(c) The Company shall pay all accrued Additional Interest on each Damages Payment Date
to the Global Note Holder by wire transfer of immediately available funds and to holders of
Certificate Notes by wire transfer to the accounts specified by them or by mailing checks
to their registered addresses if no such accounts have been specified.
(d) Following the cure of all Registration Defaults, the accrual of Additional
Interest will cease.
(e) Without limiting the remedies available to the Initial Purchasers and the Holders,
the Company acknowledges that any failure by the Company to comply with its obligations
under Sections 2 and 3 hereof may result in material irreparable injury to the Initial
Purchasers or the Holders for which there is no
17
adequate remedy at law, that it will not be possible to measure damages for such
injuries precisely and that, in the event of any such failure, the Initial Purchasers or
any Holder may obtain such relief as may be required to specifically enforce the Company’s
obligations under Sections 2 and 3 hereof.
6. Indemnification and Contribution.
(a) In connection with any Registration Statement, the Company agrees to indemnify and
hold harmless each Holder of Notes covered thereby (including the Initial Purchasers and,
with respect to any Prospectus delivery as contemplated by Sections 2(e) and 4(h) hereof,
each Exchanging Dealer) the directors, officers, employees and agents of such Holder and
each person who controls such Holder within the meaning of either the Securities Act or the
Exchange Act, against any and all losses, claims, damages or liabilities, joint or several,
to which they or any of them may become subject under the Securities Act, the Exchange Act
or other federal or state statutory law or regulation, at common law or otherwise, insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of
or are based upon any untrue statement or alleged untrue statement of a material fact
contained in such Registration Statement as originally filed or in any amendment thereof,
or in any preliminary Prospectus or Prospectus, or in any amendment thereof or supplement
thereto, or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements
therein (in the case of the Prospectus, in light of the circumstances under which they were
made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for
any legal or other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage or liability (or action in respect thereof);
provided, however, that the Company will not be liable in any case to the extent that any
such loss, claim, damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made therein in
reliance upon and in conformity with written information furnished to the Company by or on
behalf of any such indemnified party specifically for inclusion therein; provided further,
however, that the Company will not be liable in any case with respect to any untrue
statement or omission or alleged untrue statement or omission made in any preliminary
Prospectus or Prospectus, or in any amendment thereof or supplement thereto to the extent
that any such loss, claim, damage or liability (or action in respect thereof) resulted from
the fact that any indemnified party sold Notes or Exchange Notes to a person to whom there
was not sent or given, at or prior to the written confirmation of such sale, a copy of the
Prospectus as then amended or supplemented, if the Company had previously complied with the
provisions of Section 4(c)(2) and 4(f) or 4(h) hereof and if the untrue statement contained
in or omission from such preliminary Prospectus or Prospectus was corrected in the
Prospectus as then amended or supplemented. This indemnity agreement will be in addition
to any liability that the Company may otherwise have.
18
The Company also agrees to indemnify or contribute to Losses of, as provided in
Section 6(d) hereof, any underwriters of Notes registered under a Shelf Registration
Statement, their employees, officers, directors and agents and each person who controls
such underwriters on the same basis as that of the indemnification of the Initial
Purchasers and the selling Holders provided in this Section 6(a) and shall, if requested by
any Holder, enter into an underwriting agreement reflecting such agreement, as provided in
Section 4(s) hereof.
(b) Each Holder of Notes covered by a Registration Statement (including the Initial
Purchasers and, with respect to any Prospectus delivery as contemplated by Sections 2(e)
and 4(h) hereof, each Exchanging Dealer) severally agrees to indemnify and hold harmless
(i) the Company, (ii) each of the directors of the Company, (iii) each of the officers of
the Company who signs such Registration Statement and (iv) each Person who controls the
Company within the meaning of either the Securities Act or the Exchange Act to the same
extent as the foregoing indemnity from the Company to each such Holder, but only with
respect to written information furnished to the Company by or on behalf of such Holder
specifically for inclusion in the documents referred to in the foregoing indemnity. This
indemnity agreement will be in addition to any liability that any such Holder may otherwise
have.
(c) Promptly after receipt by an indemnified party under this Section 6 of notice of
the commencement of any action, such indemnified party will, if a claim in respect thereof
is to be made against the indemnifying party under this Section 6, notify the indemnifying
party in writing of the commencement thereof; but the failure so to notify the indemnifying
party (i) will not relieve the indemnifying party from liability under paragraph (a) or (b)
above unless and to the extent it did not otherwise learn of such action and such failure
results in the forfeiture by the indemnifying party of substantial rights and defenses, and
(ii) will not, in any event, relieve the indemnifying party from any obligations to any
indemnified party other than the indemnification obligation provided in paragraph (a) or
(b) above. The indemnifying party shall be entitled to appoint counsel (including local
counsel) of the indemnifying party’s choice at the indemnifying party’s expense to
represent the indemnified party in any action for which indemnification is sought (in which
case the indemnifying party shall not thereafter be responsible for the fees and expenses
of any separate counsel retained by the indemnified party or parties except as set forth
below); provided, however, that such counsel shall be reasonably satisfactory to the
indemnified party. The indemnifying party shall not be liable for any settlement of any
proceeding effected without its written consent. Notwithstanding the indemnifying party’s
election to appoint counsel to represent the indemnified party in an action, the
indemnified party shall have the right to employ separate counsel (including local
counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of
such separate counsel (and local counsel) if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a
conflict of interest, (ii) the actual or potential defendants in, or targets of, any such
action include both the
19
indemnified party and the indemnifying party and the indemnified party shall have
reasonably concluded that there may be legal defenses available to it and/or other
indemnified parties that are different from or additional to those available to the
indemnifying party, (iii) the indemnifying party shall not have employed counsel
satisfactory to the indemnified party to represent the indemnified party within a
reasonable time after notice of the institution of such action or (iv) the indemnifying
party shall authorize the indemnified party to employ separate counsel at the expense of
the indemnifying party. It is understood that the indemnifying party shall not, in
connection with any proceeding or related proceedings in the same jurisdiction, be liable
for the fees and expenses of more than one separate firm (in addition to any local counsel)
for all such indemnified parties and that all such fees and expenses shall be reimbursed as
they are incurred. An indemnifying party will not, without the prior written consent of
the indemnified parties, settle or compromise or consent to the entry of any judgment with
respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified
parties are actual or potential parties to such claim or action) unless such settlement,
compromise or consent includes an unconditional release of each indemnified party from all
liability arising out of such claim, action, suit or proceeding.
(d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 6
is unavailable to or insufficient to hold harmless an indemnified party for any reason,
then each applicable indemnifying party, in lieu of indemnifying such indemnified party,
shall have a joint and several obligation to contribute to the aggregate losses, claims,
damages and liabilities (including legal or other expenses reasonably incurred in
connection with investigating or defending the same) (collectively “Losses”) to which such
indemnified party may be subject in such proportion as is appropriate to reflect the
relative benefits received by such indemnifying party, on the one hand, and such
indemnified party, on the other hand, from the Initial Placement and the Registration
Statement that resulted in such Losses; provided, however, that in no case shall the
Initial Purchasers or any subsequent Holder of any Note or Exchange Note be responsible, in
the aggregate, for any amount in excess of the purchase discount or commission applicable
to such Note, or in the case of an Exchange Note, applicable to the Note that was
exchangeable into such Exchange Note, nor shall any underwriter be responsible for any
amount in excess of the underwriting discount or commission applicable to the Notes
purchased by such underwriter under the Registration Statement that resulted in such
Losses. If the allocation provided by the immediately preceding sentence is unavailable
for any reason, the indemnifying party and the indemnified party shall contribute in such
proportion as is appropriate to reflect not only such relative benefits but also the
relative fault of such indemnifying party, on the one hand, and such indemnified party, on
the other hand, in connection with the statements or omissions that resulted in such Losses
as well as any other relevant equitable considerations. Benefits received by the Company
shall be deemed to be equal to the total net proceeds from the Initial Placement (before
deducting expenses) as set forth on the cover page of the
20
Final Memorandum. Benefits received by the Initial Purchasers shall be deemed to be
equal to the total purchase discounts and commissions as set forth on the cover page of the
Final Memorandum, and benefits received by any other Holders shall be deemed to be equal to
the value of receiving Notes or Exchange Notes, as applicable, registered under the
Securities Act. Benefits received by any underwriter shall be deemed to be equal to the
total underwriting discounts and commissions, as set forth on the cover page of the
Prospectus forming a part of the Registration Statement that resulted in such Losses.
Relative fault shall be determined by reference to whether any alleged untrue statement or
omission relates to information provided by the indemnifying party, on the one hand, or by
the indemnified party, on the other hand. The parties agree that it would not be just and
equitable if contribution were determined by pro rata allocation or any other method of
allocation that did not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 6, each person who controls a Holder
within the meaning of either the Securities Act or the Exchange Act and each director,
officer, employee and agent of such Holder shall have the same rights to contribution as
such Holder, and each person who controls the Company within the meaning of either the
Securities Act or the Exchange Act, each officer of the Company who shall have signed the
Registration Statement and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the applicable terms and conditions of
this paragraph (d).
(e) The provisions of this Section 6 will remain in full force and effect, regardless
of any investigation made by or on behalf of any Holder or the Company or any of the
officers, directors or controlling persons referred to in Section 6 hereof, and will
survive the sale by a Holder of Notes covered by a Registration Statement.
7. Rule 144A
The Company hereby agrees with each Holder, for so long as any Transfer Restricted Securities
remain outstanding, to make available to any Holder or beneficial owner of Transfer Restricted
Securities in connection with any sale thereof and any prospective purchaser of such Transfer
Restricted Securities from such Holder or beneficial owner, the information required by Rule
144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A.
8. Participation In Underwritten Registrations
No Holder may participate in any Underwritten Registration hereunder unless such Holder (a)
agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any
underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements
and (b) completes and executes all reasonable
21
questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and
other documents required under the terms of such underwriting arrangements.
9. Selection Of Underwriters
The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement who
desire to do so may sell such Transfer Restricted Securities in an Underwritten Offering. In any
such Underwritten Offering, the investment banker or investment bankers and manager or managers
that will administer the offering will be selected by the Holders of a majority in aggregate
principal amount of the Transfer Restricted Securities included in such offering; provided, that
such investment bankers and managers must be reasonably satisfactory to the Company.
10. Miscellaneous.
(a) No Inconsistent Agreement. The Company has not, as of the date hereof,
entered into, nor shall it, on or after the date hereof, enter into, any agreement that
conflicts with the rights granted to the Holders herein or otherwise conflicts with the
provisions hereof.
(b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, qualified, modified or supplemented, and
waivers or consents to departures from the provisions hereof may not be given, unless the
Company has obtained the written consent of the Holders of at least a majority of the then
outstanding aggregate principal amount of Transfer Restricted Notes; provided that, with
respect to any matter that directly or indirectly affects the rights of the Initial
Purchasers hereunder, the Company shall obtain the written consent of the Initial
Purchasers. Notwithstanding the foregoing (except the foregoing proviso), a waiver or
consent to departure from the provisions hereof with respect to a matter that relates
exclusively to the rights of Holders whose Initial Notes or Exchange Notes are being sold
pursuant to a Registration Statement and that does not directly or indirectly affect the
rights of other Holders may be given by the Majority Holders, determined on the basis of
Notes being sold rather than registered under such Registration Statement.
(c) Notices. All notices and other communications provided for or permitted
hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier,
or air courier guaranteeing overnight delivery:
(i) if to a Holder, at the most current address given by such Holder to the
Company in accordance with the provisions of this Section 7(c), which address
initially is, with respect to each Holder, the address of such Holder maintained by
the Trustee, with a copy in like manner to Xxxxxx Brothers LLC.;
(ii) if to the Initial Purchasers, shall be delivered or sent by mail, telex
or facsimile transmission to:
22
1. Xxxxxx Brothers Inc., 000 Xxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx
00000, Attention: Syndicate Department (Fax: 000-000-0000), with a copy,
in the case of any notice pursuant to Section 8(d), to the Director of
Litigation, Office of the General Counsel, Xxxxxx Brothers Inc., 000 Xxxx
Xxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000 (Fax: 000-000-0000) and
3. with a copy to Weil, Gotshal & Xxxxxx LLP, 000 Xxxxxxxx Xxxxx,
Xxxxx 000, Xxxxxx, Xxxxx 00000, Attention: Xxxxxx Xxx, Esq. (Fax:
000-000-0000);
(iii) if to the Company, shall be delivered or sent by mail, telex or
facsimile transmission to:
1. the address of the Company set forth in the Offering Memorandum,
Attention: Xxxxx X. Xxxxxxxxxxx, Executive Vice President and Chief
Financial Officer/Xxxxxx X. Xxxxxx, Vice President and Senior Corporate
Counsel (Fax: 000-000-0000) and
2. with a copy to Mayer, Brown, Xxxx & Maw LLP, 00 Xxxxx Xxxxxx
Xxxxx, Xxxxxxx, Xxxxxxxx 00000, Attention: Xxxx Xxxxxx, Esq. (Fax:
000-000-0000); and
(iv) if to a Holder, at the most current address given by such Holder to the
Company in accordance with the provisions of this Section 7(c), which address
initially is, with respect to each Holder, the address of such Holder maintained by
the Trustee, with a copy in like manner to Xxxxxx Brothers Inc.;
All such notices and communications shall be deemed to have been duly given when
received. The Initial Purchasers, on the one hand, or the Company, on the other, by notice
to the other party or parties may designate additional or different addresses for
subsequent notices or communications.
(d) Successors and Assigns. This Agreement shall inure to the benefit of and
be binding upon the successors and assigns of each of the parties, including, without the
need for an express assignment or any consent by the Company thereto, subsequent Holders of
Initial Notes and/or Exchange Notes. The Company hereby agrees to extend the benefits of
this Agreement to any Holder of Initial Notes and/or Exchange Notes and any such Holder may
specifically enforce the provisions of this Agreement as if an original party hereto.
(e) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall constitute
one and the same Agreement.
23
(f) Headings. The headings in this Agreement are for convenience of reference
only and shall not limit or otherwise affect the meaning hereof.
(g) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
(h) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstances, is held invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and enforceability
of any such provision in every other respect and of the remaining provisions hereof shall
not be in any way impaired or affected thereby, it being intended that all of the rights
and privileges of the parties shall be enforceable to the fullest extent permitted by law.
(i) Initial Notes Held by the Company, Etc. Whenever the consent or approval
of Holders of a specified percentage of the aggregate principal amount of Initial Notes or
Exchange Notes is required hereunder, Initial Notes or Exchange Notes, as applicable, held
by the Company or its Affiliates (other than subsequent Holders of Initial Notes or
Exchange Notes if such subsequent Holders are deemed to be Affiliates solely by reason of
their holdings of such Initial Notes or Exchange Notes) shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
24
Please confirm that the foregoing correctly sets forth the agreements under the Registration
Rights Agreement between the Company and you.
Very truly yours, | ||||
Xxxxxx Communications Corporation | ||||
By: | /s/ Xxxxx X. Xxxxxxxxxxx | |||
Name: Xxxxx X. Xxxxxxxxxxx | ||||
Title: Executive Vice President and Chief Financial Officer |
25
The foregoing Agreement is hereby
accepted as of the date first above written.
accepted as of the date first above written.
Xxxxxx Brothers Inc.
By:
|
/s/ Xxxxx Xxxx | |||
Name: Xxxxx Xxxx | ||||
Title: Managing Director |
For themselves and as representative of the
several Initial Purchasers named in
Schedule I hereto
several Initial Purchasers named in
Schedule I hereto
26
SCHEDULE I
Initial Purchasers
Xxxxxx Brothers Inc.
Bear, Xxxxxxx & Co. Inc.
Xxxxxx Xxxxxxx & Co. Incorporated
Bear, Xxxxxxx & Co. Inc.
Xxxxxx Xxxxxxx & Co. Incorporated
27
ANNEX A
Each broker-dealer that receives Exchange Notes for its own account pursuant to the Exchange
Offer must acknowledge that it will deliver a prospectus in connection with any resale of such
Exchange Notes. The Letter of Transmittal states that by so acknowledging and by delivering a
prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the
meaning of the Securities Act. This Prospectus, as it may be amended or supplemented from time to
time, may be used by a broker-dealer in connection with resales of Exchange Notes received in
exchange for Notes where such Notes were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed that, starting on the
Expiration Date (as defined herein) and ending on the close of business one year after the
Expiration Date, it will make this Prospectus available to any broker-dealer for use in connection
with any such resale. See “Plan of Distribution.”
ANNEX B
Each broker-dealer that receives Exchange Notes for its own account in exchange for Notes,
where such Notes were acquired by such broker-dealer as a result of market-making activities or
other trading activities, must acknowledge that it will deliver a prospectus in connection with any
resale of such Exchange Notes. See “Plan of Distribution.”
ANNEX C
Each broker-dealer that receives Exchange Notes for its own account pursuant to the Exchange
Offer must acknowledge that it will deliver a prospectus in connection with any resale of such
Exchange Notes. This Prospectus, as it may be amended or supplemented from time to time, may be
used by a broker-dealer in connection with resales of Exchange Notes received in exchange for Notes
where such Notes were acquired as a result of market-making activities or other trading activities.
The Company has agreed that, starting on the Expiration Date and ending on the close of business
one year after the Expiration Date, it will make this Prospectus, as amended or supplemented,
available to any broker-dealer for use in connection with any such resale. In addition, until such
date all dealers effecting transactions in the Exchange Notes may be required to deliver a
prospectus.
ANNEX D
If the undersigned is a broker-dealer that will receive Exchange Notes for its own account in
exchange for Notes, it represents that the Notes to be exchanged for the Exchange Notes were
acquired by it as a result of market-making activities or other trading activities and acknowledges
that it will deliver a prospectus in connection with any resale of such Exchange Notes; however, by
so acknowledging and by delivering a prospectus, the undersigned will not be deemed to admit that
it is an “underwriter” within the meaning of the Securities Act.