REGISTRATION RIGHTS AGREEMENT Dated: December 14, 2006 among HANESBRANDS INC. and THE GUARANTORS NAMED HEREIN and MORGAN STANLEY & CO. INCORPORATED MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED ABN AMRO INCORPORATED BARCLAYS CAPITAL INC....
EXECUTION VERSION
Dated: December 14, 2006
among
and
THE GUARANTORS NAMED HEREIN
and
XXXXXX XXXXXXX & CO. INCORPORATED
XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX
INCORPORATED
ABN AMRO INCORPORATED
BARCLAYS CAPITAL INC.
CITIGROUP GLOBAL MARKETS INC.
HSBC SECURITIES (USA) INC.
XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX
INCORPORATED
ABN AMRO INCORPORATED
BARCLAYS CAPITAL INC.
CITIGROUP GLOBAL MARKETS INC.
HSBC SECURITIES (USA) INC.
THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made and entered into December
14, 2006, among Hanesbrands Inc., a Maryland corporation (the “Company”), the companies
named on the signature pages hereto (collectively, the “Guarantors”) and Xxxxxx Xxxxxxx &
Co. Incorporated, Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, ABN AMRO Incorporated,
Barclays Capital Inc., Citigroup Global Markets, Inc. and HSBC Securities (USA) Inc. (the
“Placement Agents”).
This Agreement is made pursuant to the Placement Agreement dated, December 11, 2006, among the
Company, the Guarantors and the Placement Agents (the “Placement Agreement”), which
provides for the sale by the Company to the Placement Agents of an aggregate of $500.0 million
principal amount of the Company’s Floating Rate Senior Notes due 2014 (the “Notes”), which
will be jointly and severally guaranteed on an unsecured senior basis by the Guarantors
(the “Guarantees” and, together with the Notes, the “Securities”). In order
to induce the Placement Agents to enter into the Placement Agreement, the Company and the
Guarantors have agreed to provide to the Placement Agents and their direct and indirect transferees
the registration rights set forth in this Agreement. The execution of this Agreement is a
condition to the closing under the Placement Agreement.
In consideration of the foregoing, the parties hereto agree as follows:
1. Definitions.
As used in this Agreement, the following capitalized defined terms shall have the following
meanings:
“1933 Act” shall mean the Securities Act of 1933, as amended from time to time.
“1934 Act” shall mean the Securities Exchange Act of 1934, as amended from time to
time.
“Additional Interest” shall have the meaning set forth in Section 2(d) hereof.
“Board of Directors” means, with respect to any Person, the Board of Directors of
such Person, any duly authorized committee of such Board of Directors or any Person to which
the Board of Directors has properly delegated authority with respect to any particular
matter. Unless otherwise indicated, the “Board of Directors” refers to the Board of
Directors of the Company.
“Closing Date” shall mean the Closing Date as defined in the Placement Agreement.
“Company” shall have the meaning set forth in the preamble and shall also include
the
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Company’s successors.
“Exchange Offer” shall mean the exchange offer by the Company of Exchange Securities
for Registrable Securities pursuant to Section 2(a) hereof.
“Exchange Offer Registration” shall mean a registration under the 1933 Act effected
pursuant to Section 2(a) hereof.
“Exchange Offer Registration Statement” shall mean an exchange offer registration
statement on Form S-4 (or, if applicable, on another appropriate form) and all amendments
and supplements to such registration statement, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by reference therein.
“Exchange Securities” shall mean notes issued by the Company and guarantees of the
Guarantors under the Indenture containing terms identical to the Securities, as applicable
(except that (i) interest thereon shall accrue from the last date on which interest was paid
on the Securities or, if no such interest has been paid, from December 14, 2006, (ii) the
Exchange Securities will not contain restrictions on transfer and (iii) the Exchange
Securities are not entitled to Additional Interest), and to be offered to Holders of such
Securities pursuant to the Exchange Offer.
“Guarantors” shall have the meaning set forth in the preamble and shall also include
any Guarantor’s successor.
“Holder” shall mean the Placement Agents, for so long as they own any Registrable
Securities, and each of their successors, assigns and direct and indirect transferees who
become registered owners of Registrable Securities under the Indenture; provided
that for purposes of Sections 4 and 5 of this Agreement, the term “Holder” shall include
Participating Broker-Dealers (as defined in Section 4(a)).
“Indenture” shall mean the indenture relating to the Securities dated as of December
14, 2006 among the Company, the Guarantors and Branch Banking and Trust Company, as trustee,
and as the same may be amended from time to time in accordance with the terms thereof.
“Majority Holders” shall mean the Holders of a majority of the aggregate principal
amount of outstanding Registrable Securities; provided that whenever the consent or
approval of Holders of a specified percentage of Registrable Securities is required
hereunder, Registrable Securities held by the Company or any of its affiliates (as such term
is defined in Rule 405 under the 0000 Xxx) (other than the Placement Agents or subsequent
Holders of Registrable Securities if such subsequent holders are deemed to be such
affiliates solely by reason of their holding of such Registrable Securities) shall not be
counted in
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determining whether such consent or approval was given by the Holders of such required
percentage or amount.
“Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political
subdivision thereof.
“Placement Agents” shall have the meaning set forth in the preamble.
“Prospectus” shall mean the prospectus included in a Registration Statement,
including any preliminary prospectus, and any such prospectus as amended or supplemented by
any prospectus supplement, including a prospectus supplement with respect to the terms of
the offering of any portion of the Registrable Securities covered by a Shelf Registration
Statement, and by all other amendments and supplements to such prospectus, and in each case
including all material incorporated by reference therein.
“Registration Default” shall have the meaning set forth in Section 2(d) hereof.
“Registrable Securities” shall mean the Securities; provided,
however, that the Securities shall cease to be Registrable Securities (i) when a
Registration Statement with respect to such Securities shall have been declared effective
under the 1933 Act and such Securities shall have been disposed of or exchanged pursuant to
such Registration Statement, (ii) when such Securities have been sold to the public pursuant
to Rule 144 (or any similar provision then in force, but not Rule 144A) under the 1933 Act,
(iii) when such Securities are exchanged for Exchange Securities or (iv) when such
Securities shall otherwise have ceased to be outstanding.
“Registration Expenses” shall mean any and all expenses incident to performance of
or compliance by the Company and the Guarantors with this Agreement, including without
limitation: (i) all SEC, stock exchange or NASD 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 one law firm acting as counsel for any
underwriters or Holders in connection with blue sky qualification of any of the Exchange
Securities or Registrable Securities), (iii) all expenses of any Persons in preparing or
assisting in 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)
all rating agency fees, (v) all fees and disbursements relating to the qualification of the
Indenture under applicable securities laws, (vi) the fees and disbursements of the Trustee
and its counsel, (vii) the fees and disbursements of counsel for the Company and the
Guarantors, and in the case of a Shelf Registration Statement, the reasonable fees and
disbursements of one counsel for the Holders (which counsel shall be
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selected by the Majority Holders and which counsel may also be counsel for the Placement
Agents) and (viii) the fees and disbursements of the independent public accountants of the
Company and the Guarantors, including the expenses of any special audits or “cold comfort”
letters required by this Agreement or incident to the performance of this Agreement, 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 Registrable Securities by a
Holder.
“Registration Statement” shall mean any registration statement of the Company and
the Guarantors that covers any of the Exchange Securities or Registrable Securities pursuant
to the provisions of this Agreement and all amendments and supplements to any 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.
“SEC” shall mean the Securities and Exchange Commission.
“Shelf Registration” shall mean a registration effected pursuant to Section 2(b)
hereof.
“Shelf Registration Statement” shall mean a “shelf” registration statement of the
Company and the Guarantors pursuant to the provisions of Section 2(b) of this Agreement
which covers all or a portion of the Registrable Securities on an appropriate form under
Rule 415 under the 1933 Act, or any similar rule that may be adopted by the SEC, and 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.
“Trustee” shall mean the trustee with respect to the Securities under the Indenture.
“Underwriter” shall have the meaning set forth in Section 3 hereof.
“Underwritten Registration” or “Underwritten Offering” shall mean a
registration in which Registrable Securities are sold to an Underwriter for reoffering to
the public.
2. Registration Under the 1933 Act.
(a) To the extent not prohibited by any applicable law or applicable interpretation of the
Staff of the SEC (the “Staff”), the Company and the Guarantors shall use commercially
reasonable efforts to cause to be filed an Exchange Offer Registration Statement after the date of
the original issuance of the Securities (the “Issue Date”), covering the offer by the
Company and the Guarantors to the Holders to exchange all of the Registrable Securities for
Exchange Securities
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and to have such Exchange Offer Registration Statement remain effective until the closing of the
Exchange Offer. The Company and the Guarantors shall use commercially reasonable efforts to cause
such Exchange Offer Registration Statement to be declared effective under the 1933 Act after the
Issue Date. The Company and the Guarantors shall commence the Exchange Offer promptly after the
Exchange Offer Registration Statement has been declared effective by the SEC and shall use
commercially reasonable efforts to complete the Exchange Offer after such effective date. The
Company and the Guarantors shall commence the Exchange Offer by mailing the related exchange offer
Prospectus and accompanying documents to each Holder, through the common depositary for the
Securities or otherwise, stating in such Prospectus or accompanying documents 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
Registrable Securities validly tendered and not withdrawn will be accepted for exchange;
(ii) the dates of acceptance for exchange (which shall be a period of at least 20 business
days from the date such notice is mailed) (the “Exchange Dates”);
(iii) that any Registrable Security not tendered will remain outstanding and continue to
accrue interest (but not Additional Interest), but will not retain any rights under this
Registration Rights Agreement;
(iv) that Holders electing to have a Registrable Security exchanged pursuant to the Exchange
Offer will be required to surrender such Registrable Security, 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 Exchange Date; and
(v) that Holders will be entitled to withdraw their election, not later than the close of
business on the last Exchange Date, 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 principal amount of Registrable Securities delivered for
exchange and a statement that such Holder is withdrawing his election to have such
Securities exchanged.
As soon as reasonably practicable after the last Exchange Date, the Company shall:
(i) accept for exchange Registrable Securities or portions thereof tendered and not validly
withdrawn pursuant to the Exchange Offer; and
(ii) deliver, or cause to be delivered, to the Trustee for cancellation all Registrable
Securities or portions thereof so accepted for exchange by the Company and issue, and cause
the Trustee to promptly authenticate an Exchange Security equal in principal amount to the
principal amount of the Registrable Securities surrendered by such Holder.
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The Company and the Guarantors shall use commercially reasonable efforts to complete the Exchange
Offer as provided above and shall comply with the applicable requirements of the 1933 Act, the 1934
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 the Exchange Offer does not violate
applicable law or any applicable interpretation of the Staff of the SEC. Upon the Placement
Agent’s request, the Company and the Guarantors shall inform the Placement Agents of the names and
addresses of the Holders to whom the Exchange Offer is made, and the Placement Agents shall have
the right, subject to applicable law, to contact such Holders and otherwise facilitate the tender
of Registrable Securities in the Exchange Offer.
If the Company and the Guarantors effect the Exchange Offer, the Company and the Guarantors (i)
will be entitled to close the Exchange Offer 20 business days after such commencement (provided
that the Company and the Guarantors have accepted all the Securities theretofore validly tendered
in accordance with the terms of the Exchange Offer) and (ii) will be required to consummate the
Exchange Offer not later than 40 business days after the date on which the Exchange Offer
Registration Statement is declared effective.
Each Holder participating in the Exchange Offer shall be required to represent to the Company and
the Guarantors that at the time of the consummation of the Exchange Offer (i) any Exchange
Securities received by such Holder will be acquired in the ordinary course of its business, (ii)
such Holder will have no arrangements or understanding with any person to participate in the
distribution (within the meaning of the 0000 Xxx) of the Exchange Securities, (iii) such Holder is
not an “affiliate,” as defined in Rule 405 of the 1933 Act, of the Company or the Guarantors or if
it is an affiliate, such Holder will comply with the registration and prospectus delivery
requirements of the 1933 Act to the extent applicable, (iv) if such Holder is not a broker-dealer,
that it is not engaged in, and does not intend to engage in, the distribution of the Exchange
Securities and (v) if such Holder is a broker-dealer, that it will receive Exchange Securities for
its own account in exchange for Securities that were acquired as a result of market-making
activities or other trading activities and that it will be required to acknowledge that it will
deliver a prospectus in connection with any resale of such Exchange Securities.
(b) In the event that (i) the Company and the Guarantors determine that the Exchange Offer
Registration provided for in Section 2(a) above is not available or may not be consummated as soon
as practicable after the last Exchange Date because it would violate applicable law or the
applicable interpretations of the Staff of the SEC, (ii) the Exchange Offer is not consummated for
any other reason, (iii) any Placement Agent shall notify the Company and the Guarantors following
the consummation of the Exchange Offer that the Securities held by it are not eligible to be
exchanged for Exchange Securities in the Exchange Offer or (iv) any Holder (other than an
Participating Broker-Dealer) is prohibited by law or SEC policy from participating in the Exchange
Offer or, in the case of any Holder (other than an Participating Broker-Dealer) that participates
in the Exchange Offer, such Holder may not resell the Exchange Securities acquired
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by it in the Exchange Offer to the public without delivering a prospectus, the Company and the
Guarantors shall: (1) use commercially reasonable efforts to cause to be filed as soon as
practicable after such determination, date or notice is given to the Company and the Guarantors, as
the case may be, a Shelf Registration Statement providing for the sale by the Holders of all of the
Registrable Securities, (2) in the case of Section 2(b)(i), use commercially reasonable efforts to
cause the Shelf Registration Statement to be declared effective by the SEC under the 1933 Act, (3)
in the case of Sections 2(b)(ii), (iii) or (iv), use commercially reasonable efforts to cause the
Shelf Registration Statement to be declared effective by the SEC under the 1933 Act after the date
on with the Shelf Registration Statement is required to be filed, and (4) keep the Shelf
Registration Statement effective until the earliest of (A) the time when the Registrable Securities
covered by the Shelf Registration Statement can be sold pursuant to Rule 144 under the 1933 Act
without any limitations under clauses (c), (e), (f) and (h) of Rule 144, (B) two years from the
Issue Date and (C) the date on which all Registrable Securities registered thereunder are disposed
of in accordance therewith. Notwithstanding the foregoing, to the extent that a Shelf Registration
Statement is required to be filed pursuant to Section 2(b)(ii) and the Exchange Offer is
consummated on a date that is later than 400 days after the Closing Date, upon the completion of
the Exchange Offer, the Company and the Guarantors will no longer be required to make effective or
continue to effectiveness of the Shelf Registration Statement, except as may be required pursuant
to Section 2(b)(i), (iii) or (iv).
The Company and the Guarantors further agree to supplement or amend the Shelf Registration
Statement if required by the rules, regulations or instructions applicable to the registration form
used by the Company and the Guarantors for such Shelf Registration Statement or by the 1933 Act or
by any other rules and regulations thereunder for shelf registration or if reasonably and timely
requested by a Holder with respect to information relating to such Holder, and to use commercially
reasonable efforts to cause any such amendment to become effective and such Shelf Registration
Statement to become usable as soon as thereafter practicable, provided that the Company and the
Guarantors shall not be required to amend the Shelf Registration Statement to add additional
Holders more than once per quarter. The Company and the Guarantors agree to furnish to the Holders
of Registrable Securities copies of any such supplement or amendment promptly after its being used
or filed with the SEC, provided, that the Company and the Guarantors shall not be required
to provide such Holder with copies of Forms 10-K, 10-Q, 8-K and other reports filed with the SEC.
(c) The Company and the Guarantors shall pay all Registration Expenses in connection with the
registration pursuant to Section 2(a) and Section 2(b). Each Holder shall pay all underwriting
discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale
or disposition of such Holder’s Registrable Securities pursuant to the Shelf Registration
Statement.
(d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof or a Shelf
Registration Statement pursuant to Section 2(b) hereof will not be deemed to have
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become effective unless it has been declared effective by the SEC; provided,
however, that, if, after it has been declared effective, the offering of Registrable
Securities pursuant to a Shelf Registration Statement is interfered with by any stop order,
injunction or other order or requirement of the SEC or any other governmental agency or court, such
Registration Statement will be deemed not to have become effective during the period of such
interference until the offering of Registrable Securities pursuant to such Registration Statement
may legally resume.
The Company and the Guarantors will pay additional cash interest (“Additional
Interest”) on the Securities,
(1) if obligated to file a Shelf Registration Statement, a Shelf Registration Statement
is not declared effective by the SEC on or prior to the date that is nine months after the
Issue Date, or
(2) if the Exchange Offer is not consummated on or prior to the date that is nine months
after the Issue Date (each such event referred to in the preceding clauses (1) and (2), a
“Registration Default”);
from, and including, the date on which any such Registration Default shall occur to, but excluding,
the date on which all Registration Defaults have been cured.
The rate of the Additional Interest will be 0.25% per annum for the first 90-day period
immediately following the occurrence of a Registration Default, and such rate will increase by an
additional 0.25% per annum with respect to each subsequent 90-day period until all Registration
Defaults have been cured, up to a maximum Additional Interest rate of 1.00% per annum. The Company
and the Guarantors will pay such Additional Interest on regular interest payment dates. Such
Additional Interest will be in addition to any other interest payable from time to time with
respect to the Securities. Once the Exchange Offer is consummated or a Shelf Registration
Statement is declared effective, the Company and the Guarantors shall no longer be required to pay
such Additional Interest.
(e) Without limiting the remedies available to the Placement Agents and the Holders, the
Company acknowledges that any failure by the Company to comply with its obligations under Section
2(a) and Section 2(b) hereof may result in material irreparable injury to the Placement Agents or
the Holders for which there is no 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 Placement
Agents or any Holder may obtain such relief as may be required to specifically enforce the
Company’s obligations under Section 2(a) and Section 2(b) hereof.
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3. Registration Procedures.
In connection with the obligations of the Company and the Guarantors with respect to the
Registration Statements pursuant to Section 2(a) and Section 2(b) hereof, the Company and the
Guarantors shall:
(a) prepare and file with the SEC a Registration Statement on the appropriate form under the
1933 Act, which form (x) shall be selected by the Company and the Guarantors and (y) shall,
in the case of a Shelf Registration, be available for the sale of the Registrable Securities
by the selling Holders thereof and (z) shall comply as to form in all material respects with
the requirements of the applicable form and include all financial statements required by the
SEC to be filed therewith, and use commercially reasonable efforts to cause such
Registration Statement to become effective and remain effective in accordance with Section 2
hereof;
(b) prepare and file with the SEC such amendments and post-effective amendments to each
Registration Statement as may be necessary to keep such Registration Statement effective for
the applicable period and cause each Prospectus to be supplemented by any required
prospectus supplement and, as so supplemented, to be filed pursuant to Rule 424 under the
1933 Act; to keep each Prospectus current during the period described under Section 4(3) and
Rule 174 under the 1933 Act that is applicable to transactions by brokers or dealers with
respect to the Registrable Securities or Exchange Securities;
(c) in the case of a Shelf Registration, furnish to each Holder of Registrable Securities,
to counsel for the Placement Agents, to counsel for the Holders and to each Underwriter of
an Underwritten Offering of Registrable Securities, if any, without charge, as many copies
of each Prospectus as reasonably requested, including each preliminary Prospectus, and any
amendment or supplement thereto and such other documents as such Holder or Underwriter may
reasonably request other than exhibits to documents incorporated by reference or exhibits
thereto or documents available on the SEC’s Electronic Data Gathering, Analysis, and
Retrieval system (“XXXXX”), in order to facilitate the public sale or other
disposition of the Registrable Securities; and the Company consents to the use of such
Prospectus and any amendment or supplement thereto in accordance with applicable law by each
of the selling Holders of Registrable Securities and any such Underwriters in connection
with the offering and sale of the Registrable Securities covered by and in the manner
described in such Prospectus or any amendment or supplement thereto in accordance with
applicable law;
(d) use commercially reasonable efforts to register or qualify the Registrable Securities
under all applicable state securities or “blue sky” laws of such jurisdictions as any Holder
of Registrable Securities covered by a Registration Statement shall reasonably request in
writing a reasonable time prior to the time the applicable Registration Statement is
declared
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effective by the SEC, to cooperate with such Holders in connection with any filings required
to be made with the National Association of Securities Dealers, Inc. and do any and all
other acts and things which may be reasonably necessary or advisable to enable such Holder
to consummate the disposition in each such jurisdiction of such Registrable Securities owned
by such Holder; provided, however, that each of the Company and the
Guarantors shall not be required to (i) qualify as a foreign corporation or as a dealer in
securities in any jurisdiction where it would not otherwise be required to qualify but for
this Section 3(d), (ii) file any general consent to service of process or (iii) subject
itself to taxation in any such jurisdiction if it is not so subject;
(e) in the case of a Shelf Registration, notify each Holder of Registrable Securities who
has provided contact information to the Company, counsel for the Holders and counsel for the
Placement Agents promptly and, if requested by any such Holder or counsel, confirm such
advice in writing (i) when a Registration Statement has become effective and when any
post-effective amendment thereto has been filed and becomes effective, (ii) of any request
by the SEC or any state securities authority for amendments and supplements to a
Registration Statement and Prospectus or for additional information after the Registration
Statement has become effective, (iii) of the issuance by the SEC or any state securities
authority of any stop order suspending the effectiveness of a Registration Statement or the
initiation of any proceedings for that purpose, (iv) if, between the effective date of a
Registration Statement and the closing of any sale of Registrable Securities covered
thereby, the representations and warranties of the Company contained in any underwriting
agreement, securities sales agreement or other similar agreement, if any, relating to the
offering cease to be true and correct in all material respects or if the Company receives
any notification with respect to the suspension of the qualification of the Registrable
Securities for sale in any jurisdiction or the initiation of any proceeding for such
purpose, (v) of the happening of any event during the period a Shelf Registration Statement
is effective which makes any statement made in such Registration Statement or the related
Prospectus untrue in any material respect or which requires the making of any changes in
such Registration Statement or Prospectus in order to make the statements therein not
misleading and (vi) of any determination by the Company and the Guarantors that a
post-effective amendment to a Registration Statement would be appropriate;
(f) use commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement and provide prompt notice to each Holder of the
withdrawal of any such order;
(g) in the case of a Shelf Registration, if requested, furnish to each Holder of Registrable
Securities, without charge, at least one conformed copy of each Registration Statement and
any post-effective amendment thereto (without documents incorporated therein by reference or
exhibits thereto, unless requested);
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(h) in the case of a Shelf Registration, cooperate with the selling Holders of Registrable
Securities to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be sold and not bearing any restrictive legends and enable such
Registrable Securities to be in such denominations (consistent with the provisions of the
Indenture) and registered in such names as the selling Holders may reasonably request at
least one business day prior to the closing of any sale of Registrable Securities;
(i) in the case of a Shelf Registration, upon the occurrence of any event contemplated by
Section 3(e)(v) hereof, use commercially reasonable efforts to prepare and file with the SEC
a supplement or post-effective amendment to a Registration Statement or the related
Prospectus or any document incorporated therein by reference or file any other required
document so that, as thereafter delivered to the purchasers of the Registrable Securities,
such Prospectus will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading. The Company and the Guarantors agree to notify the
Holders to suspend use of the Prospectus as promptly as practicable after the occurrence of
such an event, and the Holders hereby agree to suspend use of the Prospectus until the
Company and the Guarantors have amended or supplemented the Prospectus to correct such
misstatement or omission;
(j) 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 or any
document which is to be incorporated by reference into a Registration Statement or a
Prospectus (other than filings to be made pursuant to the Securities Exchange Act of 1934),
after initial filing of a Registration Statement, provide copies of such document to the
Placement Agents and their counsel (and, in the case of a Shelf Registration Statement,
counsel to the Holders) and make such of the representatives of the Company and the
Guarantors as shall be reasonably requested by the Placement Agents or their counsel (and,
in the case of a Shelf Registration Statement, the 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 or any document which is to be incorporated by reference into a
Registration Statement or a Prospectus, of which the Placement Agents and their counsel
(and, in the case of a Shelf Registration Statement, counsel to the Holders) shall not have
previously been advised and furnished a copy or to which the Placement Agents or their
counsel (and, in the case of a Shelf Registration Statement, the Holders or their counsel)
shall reasonably object, except for any amendment or supplement or document (a copy of which
has previously been furnished to the Placement Agents and their counsel (and, in the case of
a Shelf Registration Statement, counsel to the Holders)) which counsel to the Company shall
advise the Company in writing is required in order to comply with applicable law;
11
(k) obtain a CUSIP number for all Exchange Securities or Registrable Securities, as the case
may be, not later than the effective date of a Registration Statement;
(l) cause the Indenture to be qualified under the Trust Indenture Act of 1939, as amended
(the “TIA”), in connection with the registration of the Exchange Securities or
Registrable Securities, as the case may be, cooperate with the Trustee and the Holders to
effect such changes to the Indenture as may be required for the Indenture to be so qualified
in accordance with the terms of the TIA and execute, and use commercially reasonable efforts
to cause the Trustee to execute, all documents as may be required to effect such changes and
all other forms and documents required to be filed with the SEC to enable the Indenture to
be so qualified in a timely manner;
(m) in the case of a Shelf Registration, make available for inspection by a representative
of the Holders of a majority in principal amount of the Registrable Securities being sold,
any Underwriter participating in any disposition pursuant to such Shelf Registration
Statement, and attorneys and accountants designated by such Holders, at reasonable times and
in a reasonable manner, all financial and other records, pertinent documents and properties
of the Company and the Guarantors, and cause the respective officers, directors and
employees of the Company and the Guarantors to supply all information reasonably requested
by any such representative, Underwriter, attorney or accountant in connection with a Shelf
Registration Statement; provided that (1) the foregoing inspection and information gathering
shall be coordinated on behalf of the selling Holders, underwriters and representatives
thereof by one counsel for the Holders and one counsel for the underwriters, who shall be
such counsel as may be chosen by the Holders of a majority in principal amount of the
Securities or by the underwriters, as the case may be, and (2) if any such information is
identified by the Company or any Guarantor as being confidential or proprietary, each person
receiving such information shall take such actions as are reasonably necessary to protect
the confidentiality of such information, including, with respect to Holders, entering into
customary confidentiality agreements;
(n) use commercially reasonable efforts to cause the Exchange Securities or Registrable
Securities, as the case may be, to be rated by two nationally recognized statistical rating
organizations (as such term is defined in Rule 436(g)(2) under the 0000 Xxx); and
(o) in the case of a Shelf Registration, enter into such customary agreements and take all
such other reasonable actions in connection therewith (including those reasonably requested
by the Holders of a majority in principal amount of the Registrable Securities being sold)
in order to expedite or facilitate the disposition of such Registrable Securities including,
but not limited to, if requested by the Holders of a majority in principal amount of the
Securities covered by a Shelf Registration Statement not more than one Underwritten Offering
and in such connection, (i) to the extent possible, make such
12
representations and warranties to the Holders and any Underwriters of such Registrable
Securities with respect to the business of the Company and its subsidiaries, the
Registration Statement, Prospectus and documents incorporated by reference or deemed
incorporated by reference, if any, in each case, in form, substance and scope as are
customarily made by issuers to underwriters in underwritten offerings, (ii) obtain opinions
of counsel to the Company and the Guarantors (which counsel and opinions, in form, scope and
substance, shall be reasonably satisfactory to the Holders and such Underwriters and their
respective counsel) addressed to each selling Holder and Underwriter of Registrable
Securities, covering the matters customarily covered in opinions requested in underwritten
offerings, (iii) obtain “cold comfort” letters from the independent certified public
accountants of the Company and the Guarantors (and, if necessary, any other certified public
accountant of any subsidiary of the Company or the Guarantors, or of any business acquired
by the Company or the Guarantors for which financial statements and financial data are or
are required to be included in the Registration Statement) addressed to each selling Holder
and Underwriter of Registrable Securities, such letters to be in customary form and covering
matters of the type customarily covered in “cold comfort” letters in connection with
underwritten offerings, and (iv) deliver such documents and certificates as may be
reasonably requested by the Holders of a majority in principal amount of the Registrable
Securities being sold or the Underwriters, and which are customarily delivered in
underwritten offerings, to evidence the continued validity of the representations and
warranties of the Company made pursuant to clause (i) above and to evidence compliance with
any customary conditions contained in an underwriting agreement.
In the case of a Shelf Registration Statement, the Company and the Guarantors may require each
Holder of Registrable Securities to furnish to the Company and the Guarantors such information
regarding the Holder and the proposed distribution by such Holder of such Registrable Securities as
the Company and the Guarantors may from time to time reasonably request in writing. In addition,
each selling Holder agrees to promptly furnish additional information required under Item 507 of
Regulation S-K. So long as any Holder fails to furnish such information in a reasonably timely
manner after receiving the request, the Company and the Guarantors shall (i) have no obligation
under this Agreement to provide for the disposition of such Holder’s Registrable Securities in the
Shelf Registration Statement in respect to which such information was requested, (ii) not be
required to provide for the disposition of such Holder’s Registrable Securities in any
post-effective amendment to such Shelf Registration Statement or any future Shelf Registration
Statement that is not otherwise required to be filed and (iii) not be required to pay any
Additional Interest as provided in Section 2(d) hereof. Each Holder including Registrable
Securities in a Shelf Registration Statement shall agree to furnish promptly to the Company all
information regarding such Holder and the proposed distribution by the Holder of such Registrable
Securities required under Regulation S-K.
In the case of a Shelf Registration Statement, each Holder agrees that, upon receipt of any
notice from the Company and the Guarantors of the happening of any event of the kind
13
described in Section 3(e)(v) hereof, such Holder will forthwith discontinue disposition of
Registrable Securities pursuant to a Shelf Registration Statement until such Holder’s receipt of
the copies of the supplemented or amended Prospectus contemplated by Section 3(i) hereof, and, if
so directed by the Company and the Guarantors, such Holder will deliver to the Company and the
Guarantors (at their expense) all copies in its possession, other than permanent file copies then
in such Holder’s possession, of the Prospectus covering such Registrable Securities current at the
time of receipt of such notice. If the Company and the Guarantors shall give any such notice to
suspend the disposition of Registrable Securities pursuant to a Registration Statement, the Company
and the Guarantors shall extend the period during which the Registration Statement shall be
maintained effective pursuant to this Agreement by the number of days during the period from and
including the date of the giving of such notice to and including the date when the Holders shall
have received copies of the supplemented or amended Prospectus necessary to resume such
dispositions. The Company and the Guarantors may give any such notice only twice during any 365
day period and any such suspensions may not exceed 45 days for each suspension and there may not be
more than two suspensions in effect during any 365 day period.
Nothwithstanding the foregoing (and anything else to the contrary in this Agreement), the
Company and the Guarantors may allow a Shelf Registration Statement to cease to be effective if the
Board of Directors of the Company determines in good faith that it is in the Company’s best
interests not to disclose the existence of facts surrounding any proposed or pending material
corporate transaction involving the Company or a Guarantor, and the Company notifies the Holders of
Registrable Securities promptly after such Board of Directors makes such determination; provided,
however, that such period shall not be greater than 60 days (whether or not consecutive) in the
aggregate, and provided further that the period referred to in this paragraph during which the
Company and the Guarantors agree to use commercially reasonable efforts to keep such Shelf
Registration Statement effective shall be extended by the number of days during which such Shelf
Registration Statement was not effective pursuant to the foregoing provision.
In the Underwritten Offering referred to in Section 3(p) above, the investment bank or
investment banks and manager or managers (the “Underwriters”) that will administer the
offering will be selected by the Majority Holders of the Registrable Securities included in such
offering, subject to the approval of the Company, which approval shall not be unreasonably withheld
or delayed.
4. Participation of Broker-Dealers in Exchange Offer.
(a) The Staff of the SEC has taken the position that any broker-dealer that receives Exchange
Securities for its own account in the Exchange Offer in exchange for Securities that were acquired
by such broker-dealer as a result of market-making or other trading activities (a
“Participating Broker-Dealer”), may be deemed to be an “underwriter” within the meaning of
the 1933 Act and must deliver a prospectus meeting the requirements of the 1933 Act in connection
with any resale of such Exchange Securities.
14
The Company understands that it is the Staff’s position that if the Prospectus contained in
the Exchange Offer Registration Statement includes a plan of distribution containing a statement to
the above effect and the means by which Participating Broker-Dealers may resell the Exchange
Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange
Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers to
satisfy their prospectus delivery obligation under the 1933 Act in connection with resales of
Exchange Securities for their own accounts, so long as the Prospectus otherwise meets the
requirements of the 1933 Act.
(b) In light of the above, notwithstanding the other provisions of this Agreement, the Company
and the Guarantors agree that the provisions of this Agreement as they relate to a Shelf
Registration shall also apply to an Exchange Offer Registration to the extent, and with such
reasonable modifications thereto as may be, reasonably requested by the Placement Agents or by one
or more Participating Broker-Dealers, in each case as provided in clause (ii) below, in order to
expedite or facilitate the disposition of any Exchange Securities by Participating Broker-Dealers
consistent with the positions of the Staff recited in Section 4(a) above; provided that:
(i) the Company and the Guarantors shall not be required to amend or supplement the
Prospectus contained in the Exchange Offer Registration Statement, as would otherwise be
contemplated by Section 3(i), (A) after the Participating Broker-Dealers shall have disposed
of the Registrable Securities or (B) for a period exceeding 180 days after the last Exchange
Date (as such period may be extended pursuant to the penultimate paragraph of Section 3 of
this Agreement) and Participating Broker-Dealers shall not be authorized by the Company to
deliver and shall not deliver such Prospectus after such date or such period in connection
with the resales contemplated by this Section 4; and
(ii) the application of the Shelf Registration procedures set forth in Section 3 of this
Agreement to an Exchange Offer Registration, to the extent not required by the positions of
the Staff of the SEC or the 1933 Act and the rules and regulations thereunder, will be in
conformity with the reasonable request to the Company and the Guarantors by the Placement
Agents or with the reasonable request in writing to the Company by one or more
broker-dealers who certify to the Placement Agents and the Company and the Guarantors in
writing that they anticipate that they will be Participating Broker-Dealers; and
provided further that, in connection with such application of the Shelf
Registration procedures set forth in Section 3 to an Exchange Offer Registration, the
Company and the Guarantors shall be obligated (x) to deal only with one entity representing
the Participating Broker-Dealers, which shall be Xxxxxx Xxxxxxx & Co. Incorporated unless it
elects not to act as such representative, (y) to pay the fees and expenses of only one
counsel representing the Participating Broker-Dealers, which shall be counsel to the
Placement Agents unless such counsel elects not to so act and (z) to cause to be delivered
only one, if
15
any, “cold comfort” letter with respect to the Prospectus in the form existing on the last
Exchange Date and with respect to each subsequent amendment or supplement, if any, effected
during the period specified in clause (i) above.
(c) The Placement Agents shall have no liability to the Company, the Guarantors or any Holder
with respect to any request that it may make pursuant to Section 4(b) above.
5. Indemnification and Contribution.
(a) The Company and the Guarantors agree to indemnify and hold harmless the Placement Agents,
each Holder and each Person, if any, who controls any Placement Agent or any Holder within the
meaning of either Section 15 of the 1933 Act or Section 20 of the 1934 Act, or is under common
control with, or is controlled by, any Placement Agent or any Holder, from and against all losses,
claims, damages and liabilities (including, without limitation, any legal or other expenses
reasonably incurred by the Placement Agents, any Holder or any such controlling or affiliated
Person in connection with defending or investigating any such action or claim) caused by any untrue
statement or alleged untrue statement of a material fact contained in any Registration Statement
(or any amendment thereto) pursuant to which Exchange Securities or Registrable Securities were
registered under the 1933 Act, including all documents incorporated therein by reference, or caused
by any omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, or caused by any untrue statement or
alleged untrue statement of a material fact contained in any Prospectus (as amended or supplemented
if the Company and the Guarantors shall have furnished any amendments or supplements thereto), or
caused by any omission or alleged omission to state therein a material fact necessary to make the
statements therein in light of the circumstances under which they were made not misleading, except
insofar as such losses, claims, damages or liabilities are caused by any such untrue statement or
omission or alleged untrue statement or omission based upon information relating to the Placement
Agents or any Holder furnished to the Company and the Guarantors in writing through Xxxxxx Xxxxxxx
& Co. Incorporated or any selling Holder expressly for use therein. In connection with any
Underwritten Offering permitted by Section 3, the Company and the Guarantors will also indemnify
the Underwriters, if any, selling brokers, dealers and similar securities industry professionals
participating in the distribution, their officers and directors and each Person who controls such
Persons (within the meaning of the 1933 Act and the 0000 Xxx) to the same extent as provided above
with respect to the indemnification of the Holders, if requested in connection with any
Registration Statement.
(b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company,
the Guarantors, the Placement Agents and the other selling Holders, and each of their respective
directors, officers who sign the Registration Statement and each Person, if any, who controls the
Company, the Guarantors, any Placement Agent and any other selling Holder within the meaning of
either Section 15 of the 1933 Act or Section 20 of the 1934 Act to the
16
same extent as the foregoing indemnity from the Company and the Guarantors to the Placement Agents
and the Holders, but only with reference to information relating to such Holder furnished to the
Company and the Guarantors in writing by such Holder directly or through Xxxxxx Xxxxxxx & Co.
Incorporated expressly for use in any Registration Statement (or any amendment thereto) or any
Prospectus (or any amendment or supplement thereto).
(c) In case any proceeding (including any governmental investigation) shall be instituted
involving any Person in respect of which indemnity may be sought pursuant to either paragraph (a)
or paragraph (b) above, such Person (the “indemnified party”) shall promptly notify the
Person against whom such indemnity may be sought (the “indemnifying party”) in writing and
the indemnifying party, upon request of the indemnified party, shall retain counsel reasonably
satisfactory to the indemnified party to represent the indemnified party and any others the
indemnifying party may designate in such proceeding and shall pay the reasonable fees and
disbursements of such counsel related to such proceeding. The Company and the Guarantors may take
the primary responsibility for supervising any such defense (with counsel reasonably satisfactory
to the indemnified party), provided, however, that the indemnified party shall be promptly informed
of all material developments with respect to such proceeding by the indemnifying party, the
indemnified party shall have the right to ask reasonable questions of such counsel and the
indemnifying party and, with respect to any matters that relate directly to such indemnified party
in such proceedings, shall be consulted by the indemnifying party. Notwithstanding the foregoing,
in any such proceeding, any indemnified party shall have the right to retain its own counsel, but
the fees and expenses of such counsel shall be at the expense of such indemnified party unless (i)
the indemnifying party and the indemnified party shall have mutually agreed to the retention of
such counsel or (ii) the named parties to any such proceeding (including any impleaded parties)
include both the indemnifying party and the indemnified party and representation of both parties by
the same counsel would be inappropriate due to actual or potential differing interests between
them. It is understood that the indemnifying party shall not, in connection with any proceeding or
related proceedings in the same jurisdiction, be liable for (a) the fees and expenses of more than
one separate firm (in addition to any local counsel) for the Placement Agents and all Persons, if
any, who control any Placement Agent within the meaning of either Section 15 of the 1933 Act or
Xxxxxxx 00 xx xxx 0000 Xxx, (x) the fees and expenses of more than one separate firm (in addition
to any local counsel) for the Company, the Guarantors, their respective directors, their respective
officers who sign the Registration Statement and each Person, if any, who controls the Company or
the Guarantors within the meaning of either such Section and (c) the fees and expenses of more than
one separate firm (in addition to any local counsel) for all Holders and all Persons, if any, who
control any Holders within the meaning of either such Section, and that all such fees and expenses
shall be reimbursed as they are incurred. In such case involving the Placement Agents and Persons
who control the Placement Agents, such firm shall be designated in writing by Xxxxxx Xxxxxxx & Co.
Incorporated. In such case involving the Holders and such Persons who control Holders, such firm
shall be designated in writing by the Majority Holders. In all other cases, such firm shall be
designated by the Company and the Guarantors. The indemnifying party shall not be liable for any
settlement of any proceeding effected without its
17
written consent but, if settled with such consent or if there be a final judgment for the
plaintiff, the indemnifying party agrees to indemnify the indemnified party from and against any
loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing
sentence, if at any time an indemnified party shall have requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel as contemplated by the second and
third sentences of this paragraph, the indemnifying party agrees that it shall be liable for any
settlement of any proceeding effected without its written consent if (i) such settlement is entered
into more than 30 days after receipt by such indemnifying party of the aforesaid request and (ii)
such indemnifying party shall not have reimbursed the indemnified party for such fees and expenses
of counsel in accordance with such request prior to the date of such settlement. No indemnifying
party shall, without the prior written consent of the indemnified party, effect any settlement of
any pending or threatened proceeding in respect of which such indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified party, unless such
settlement includes an unconditional release of such indemnified party from all liability on claims
that are the subject matter of such proceeding.
(d) If the indemnification provided for in paragraph (a) or paragraph (b) of this Section 5 is
unavailable to an indemnified party or insufficient in respect of any losses, claims, damages or
liabilities, then each indemnifying party under such paragraph, in lieu of indemnifying such
indemnified party thereunder, shall contribute to the amount paid or payable by such indemnified
party as a result of such losses, claims, damages or liabilities in such proportion as is
appropriate to reflect the relative fault of the indemnifying party or parties on the one hand and
of the indemnified party or parties on the other hand in connection with the statements or
omissions that resulted in such losses, claims, damages or liabilities, as well as any other
relevant equitable considerations. The relative fault of the Company, the Guarantors and the
Holders shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company, the Guarantors or by the Holders and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Holders’ respective obligations to contribute pursuant to this Section
5(d) are several in proportion to the respective principal amount of Registrable Securities of such
Holder that were registered pursuant to a Registration Statement.
(e) The Company, the Guarantors and each Holder agree that it would not be just or equitable
if contribution pursuant to this Section 5 were determined by pro rata allocation
or by any other method of allocation that does not take account of the equitable considerations
referred to in paragraph (d) above. The amount paid or payable by an indemnified party as a result
of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed
to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or defending any such action or
claim. Notwithstanding the provisions of this Section 5, no Holder shall be required to indemnify
or contribute any amount in excess of the amount by which the total price at which Registrable
18
Securities were sold by such Holder exceeds the amount of any damages that such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or
alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 0000 Xxx) shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation. The remedies provided for in this Section 5 are not exclusive and
shall not limit any rights or remedies which may otherwise be available to any indemnified party at
law or in equity.
The indemnity and contribution provisions contained in this Section 5 shall remain operative
and in full force and effect regardless of (i) any termination of this Agreement, (ii) any
investigation made by or on behalf of the Placement Agents, any Holder or any Person controlling
any Placement Agent or any Holder, or by or on behalf of the Company, the Guarantors, their
respective officers or directors or any Person controlling the Company or the Guarantors, (iii)
acceptance of any of the Exchange Securities and (iv) any sale of Registrable Securities pursuant
to a Shelf Registration Statement.
6. Miscellaneous.
(a) No Inconsistent Agreements. The Company and the Guarantors have not entered into,
and on or after the date of this Agreement will not enter into, any agreement which is inconsistent
with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise
conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any
way conflict with and are not inconsistent with the rights granted to the holders of the Company’s
or the Guarantors’ other issued and outstanding securities under any such agreements.
(b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given unless the Company and the Guarantors
have obtained the written consent of Holders of at least a majority in aggregate principal amount
of the outstanding Registrable Securities affected by such amendment, modification, supplement,
waiver or consent; provided, however, that no amendment, modification, supplement,
waiver or consent to any departure from the provisions of Section 5 hereof shall be effective as
against any Holder of Registrable Securities unless consented to in writing by such Holder.
(c) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any
courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by
such Holder to the Company or the Guarantors by means of a notice given in accordance with the
provisions of this Section 6(c), which address initially is, with respect to the Placement Agents,
the address set forth in the Purchase Agreement; and (ii) if to the Company and the Guarantors,
initially at the Company’s address set forth in the Placement Agreement and thereafter at such
19
other address, notice of which is given in accordance with the provisions of this Section 6(c).
All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five business days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt is acknowledged, if
telecopied; and on the next business day if timely delivered to an air courier guaranteeing
overnight delivery.
Copies of all such notices, demands, or other communications shall be concurrently delivered
by the Person giving the same to the Trustee, at the address specified in the Indenture.
(d) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors, assigns and transferees of each of the parties, including, without
limitation and without the need for an express assignment, subsequent Holders; provided
that nothing herein shall be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Placement Agreement. If any transferee of
any Holder shall acquire Registrable Securities, in any manner, whether by operation of law or
otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement,
and by taking and holding such Registrable Securities such Person shall be conclusively deemed to
have agreed to be bound by and to perform all of the terms and provisions of this Agreement and
such Person shall be entitled to receive the benefits hereof. The Placement Agents (in their
capacity as Placement Agents) shall have no liability or obligation to the Company or the
Guarantors with respect to any failure by a Holder to comply with, or any breach by any Holder of,
any of the obligations of such Holder under this Agreement.
(e) Purchases and Sales of Securities. The Company and the Guarantors shall not, and
shall use commercially reasonable efforts to cause its affiliates (as defined in Rule 405 under the
0000 Xxx) not to, purchase and then resell or otherwise transfer any Securities; provided, however,
the preceding sentence shall not apply to purchases by affiliates of the Company in the initial
distribution of the Securities.
(f) Third Party Beneficiary. The Holders shall be third party beneficiaries to the
agreements made hereunder between the Company and the Guarantors, on the one hand, and the
Placement Agents, on the other hand, and shall have the right to enforce such agreements directly
to the extent it deems such enforcement necessary or advisable to protect its rights or the rights
of Holders hereunder.
(g) 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.
20
(h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.
(i) Governing Law. This Agreement shall be governed by the laws of the State of New
York.
(j) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.
21
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.
Hanesbrands Inc. | ||||||||
By: | /s/ Xxxxxxx X. Xxxx | |||||||
Name: | Xxxxxxx X. Xxxx | |||||||
Title: | Treasurer | |||||||
BA International, L.L.C. Caribesock, Inc. Caribetex, Inc. CASA International, LLC Ceibena Del, Inc. Xxxxx Menswear, LLC Xxxxx Puerto Rico, Inc. Hanesbrands Direct, LLC Hanesbrands Distribution, Inc. HBI Branded Apparel Limited, Inc. HBI Branded Apparel Enterprises, LLC HbI International, LLC HBI Sourcing, LLC Inner Self LLC Jasper-Costa Rica, L.L.C. National Textiles, L.L.C. NT Investment Company, Inc. Playtex Dorado, LLC Playtex Industries, Inc. Seamless Textiles, LLC UPCR, Inc. UPEL, Inc. |
||||||||
By: | /s/ Xxxxxxx X. Xxxx | |||||||
Name: | Xxxxxxx X. Xxxx | |||||||
Title: | Treasurer |
Accepted as of the date hereof:
Acting severally on behalf of themselves and:
ABN AMRO Incorporated
Barclays Capital Inc.
Citigroup Global Markets Inc.
HSBC Securities (USA) Inc.
Barclays Capital Inc.
Citigroup Global Markets Inc.
HSBC Securities (USA) Inc.
Xxxxxx Xxxxxxx & Co. Incorporated
By: | /s/ Jaap L. Tonckens | |||||
Name: | Jaap L. Tonckens | |||||
Title: | Managing Director | |||||
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx | ||||||
Incorporated | ||||||
By: | /s/ Xxxx Xxxx | |||||
Name: | Xxxx Xxxx | |||||
Title: | Vice President |