WEYERHAEUSER COMPANY UNDERWRITING AGREEMENT
WEYERHAEUSER
COMPANY
$500,000,000
7.375%
NOTES DUE 2019
September
28, 2009
September
28, 2009
Xxxxxx
Xxxxxxx & Co. Incorporated
0000
Xxxxxxxx
Xxx Xxxx,
Xxx Xxxx 00000
Deutsche
Bank Securities Inc.
00 Xxxx
Xxxxxx
Xxx Xxxx,
Xxx Xxxx 00000
X.X.
Xxxxxx Securities Inc.
000 Xxxx
Xxxxxx
Xxx Xxxx,
Xxx Xxxx 00000
As
Representatives of the several Underwriters
Ladies
and Gentlemen:
Weyerhaeuser
Company, a Washington corporation (the “Company”), proposes to issue
and sell to the several underwriters named in Schedule I hereto (the “Underwriters”), for whom you
are acting as representatives (the “Representatives”),
$500,000,000 aggregate principal amount of its 7.375% Notes due 2019 (the “Securities”). The
Securities are to be issued under an Indenture dated as of April 1, 1986, as
amended and supplemented by the First Supplemental Indenture thereto dated as of
February 15, 1991, the Second Supplemental Indenture thereto dated as of
February 1, 1993, the Third Supplemental Indenture thereto dated as of
October 22, 2001, and the Fourth Supplemental Indenture thereto dated as of
March 12, 2002 (as so amended and supplemented, the “Indenture”), each between the
Company and The Bank of New York Mellon Trust Company, N.A. (formerly known as
The Bank of New York Trust Company, N.A.), as successor trustee (the “Trustee”), to JPMorgan Chase
Bank (formerly known as The Chase Manhattan Bank and Chemical Bank), as trustee
(the “Original
Trustee”).
The
Company has filed with the Securities and Exchange Commission (the “Commission”) a registration
statement on Form S-3 (No. 333-159748), including a prospectus,
relating to securities (the “Shelf Securities”), including
the Securities, to be issued from time to time by the Company. Such
registration statement as amended to the date of this Agreement, and including
the information (if any) deemed to be part of such registration statement
pursuant to Rule 430B (“Rule
430B”) under the Securities Act of 1933, as amended (the “Securities Act”), is
hereinafter referred to as the “Registration Statement,” and
the related prospectus covering the Shelf Securities dated June 4, 2009, in the
form first used to confirm sales of the Securities (or in the form first made
available to the Underwriters by the Company to meet requests of purchasers
pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the
“Basic
Prospectus.” The Basic Prospectus, as supplemented by the
prospectus supplement dated September 28, 2009 relating to the Securities, in
the form first used to confirm sales of the Securities (or in the form first
made available to the Underwriters by the Company to meet requests of purchasers
pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the
“Prospectus,” and the
term “preliminary
prospectus” means any preliminary form of the Prospectus including,
without limitation, the Time of Sale Prospectus (as defined
below). For purposes of this Agreement, “free writing prospectus” has
the meaning set forth in Rule 405 under the Securities Act, “Time of Sale Prospectus”
means, collectively, the Basic Prospectus, the preliminary prospectus supplement
dated September 28, 2009 relating to the Securities and the free writing
prospectuses, if any, identified in Schedule II hereto, and “Applicable Time” means 4:30 p.m. (New
York City time) on the date hereof. As used herein, the terms
“Registration Statement,” “Basic Prospectus,” “preliminary prospectus,” “Time of
Sale Prospectus” and “Prospectus” shall include the documents, if any,
incorporated and deemed to be incorporated by reference therein. The
terms “supplement,”
“amendment,” and “amend” as used herein with
respect to the Registration Statement, the Basic Prospectus, the Time of Sale
Prospectus, any preliminary prospectus or the Prospectus shall include all
documents subsequently filed by the Company with the Commission pursuant to the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), that are
deemed to be incorporated by reference therein.
1. Representations and
Warranties. The Company represents and warrants to and agrees
with each of the Underwriters that:
(a) The
Registration Statement has become effective; no stop order suspending the
effectiveness of the Registration Statement is in effect, and no proceedings for
such purpose are pending before or threatened by the Commission. If
the Registration Statement is an automatic shelf registration statement as
defined in Rule 405 under the Securities Act, the Company was at all relevant
times or is a well known seasoned issuer (as defined in Rule 405 under the
Securities Act) eligible to use the Registration Statement as an automatic shelf
registration statement and the Company has not received notice that the
Commission objects to the use of the Registration Statement as an automatic
shelf registration statement.
2
(b) (i)
Each document, if any, filed or to be filed pursuant to the Exchange Act and
incorporated or deemed to be incorporated by reference in the Time of Sale
Prospectus or the Prospectus complied or will comply when so filed in all
material respects with the Exchange Act and the applicable rules and regulations
of the Commission thereunder, (ii) the Registration Statement, when it
first became effective, at the respective times (if subsequent to such first
effective date) when the Company’s most recent Annual Report on Form 10-K or any
amendment thereto was filed with the Commission and at each “new effective date”
with respect to the Underwriters pursuant to Rule 430B(f)(2) of the
Securities Act Regulations (as defined below) did not and will not, and the
Registration Statement, as amended or supplemented, if applicable, will not,
contain any 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, (iii) the Registration Statement as of the date hereof does not
contain any 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, (iv) the Registration Statement and the Prospectus comply and,
as amended or supplemented, if applicable, will comply in all material respects
with the Securities Act and the applicable rules and regulations of the
Commission thereunder (the “Securities Act Regulations”),
(v) the Time of Sale Prospectus does not and, at the Applicable Time, will not,
and at the time of each sale of Securities in connection with the offering when
the Prospectus is not yet available to prospective purchasers and at the Closing
Date (as defined in Section 4), the Time of Sale Prospectus, as then
amended or supplemented by the Company, if applicable, will not, contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which
they were made, not misleading, (vi) each free writing prospectus, when taken
together with the preliminary prospectus accompanying, or delivered prior to
delivery of, or filed prior to the first use of, such free writing prospectus,
did not, and at the Closing Date will not, contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not
misleading and (vii) the Prospectus does not contain and, as amended or
supplemented, if applicable, will not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein,
in the light of the circumstances under which they were made, not misleading,
except that the representations and warranties set forth in this paragraph do
not apply to (A) statements or omissions in the Registration Statement, the Time
of Sale Prospectus, any preliminary prospectus, any free writing prospectus or
the Prospectus based upon information relating to any Underwriter furnished to
the Company in writing by such Underwriter through you expressly for use therein
or (B) any trustee’s Statement of Eligibility on Form T-1 (each, a “Form T-1”) under the Trust
Indenture Act of 1939, as amended (the “Trust Indenture
Act”).
(c) The
Company is not an “ineligible issuer” in connection with the offering pursuant
to (or for purposes of or within the meaning of) Rule 164, 405 or 433 under the
Securities Act. Any free writing prospectus that the Company is
required to file pursuant to Rule 433(d) under the Securities Act has been, or
will be, filed with the Commission in accordance with the requirements of the
Securities Act and the Securities Act Regulations. Each free writing
prospectus that the Company has filed, or is required to file, pursuant to Rule
433(d) under the Securities Act or that was prepared by or behalf of or used or
referred to by the Company complies or will comply in all material respects with
the requirements of the Securities Act and the Securities Act
Regulations. Except for the free writing prospectuses, if any,
identified in Schedule II hereto, and electronic road shows, if any, each
furnished to you before first use, the Company has not prepared, used or
referred to, and will not, without your prior consent, prepare, use or refer to,
any free writing prospectus. Each free writing prospectus identified
in Schedule II hereto, as of its issue date and at all times through the
completion of the public offering and sale of the Securities, did not, does not
and will not include any information that conflicted, conflicts or will conflict
with the information contained in the Registration Statement, the Time of Sale
Prospectus or the Prospectus.
3
(d) The
Company has been duly incorporated, is validly existing as a corporation in good
standing under the laws of the jurisdiction of its incorporation, has the
corporate power and authority to own its property and to conduct its business as
described in the Time of Sale Prospectus and the Prospectus and is duly
qualified to transact business and is in good standing (or the local equivalent)
in each jurisdiction in which the conduct of its business or its ownership or
leasing of property requires such qualification, except to the extent that the
failure to be so qualified or be in good standing would not have a material
adverse effect on the Company and its subsidiaries, taken as a whole, or on the
Company’s ability to perform its obligations under this Agreement, the
Securities, the Indenture, the Assumption Agreement dated as of January 1, 2009
(the “Original Assumption
Agreement”), between the Company and Weyerhaeuser NR Company, a
Washington corporation (“WNR”) or the Assignment and
Assumption Agreement (the “Second Assumption Agreement”)
dated as of the Closing Date (as defined below) between the Company and
WNR.
(e) Certain
direct and indirect subsidiaries of the Company (including, without limitation,
WNR) are identified on Exhibit A hereto (each a “Key Subsidiary” and
collectively, the “Key
Subsidiaries”). Other than the Key Subsidiaries, the Company
has no subsidiary that would constitute a “significant subsidiary” as such term
is defined in Rule 1-02 of Regulation S-X. Each Key
Subsidiary has been duly incorporated, is validly existing as a corporation in
good standing (or the local equivalent) under the laws of the jurisdiction of
its incorporation, has the corporate power and authority to own its property and
to conduct its business as described in the Time of Sale Prospectus and the
Prospectus and is duly qualified to transact business and is in good standing
(or the local equivalent) in each jurisdiction in which the conduct of its
business or its ownership or leasing of property requires such qualification,
except to the extent that the failure to be so qualified or be in good standing
would not have a material adverse effect on the Company and its subsidiaries,
taken as a whole, or on the ability of WNR to perform its obligations under the
Original Assumption Agreement or the Second Assumption Agreement; all of the
issued shares of capital stock of each Key Subsidiary have been duly and validly
authorized and issued, are fully paid and non-assessable and, except as set
forth in the Registration Statement, the Time of Sale Prospectus and the
Prospectus and are owned directly or indirectly by the Company, free and clear
of all liens, encumbrances, equities or claims.
(f)
This Agreement has been duly authorized, executed and delivered by the
Company.
(g) The
outstanding shares of common stock, par value $1.25 per share (the “Common Stock”), of the Company
and the single outstanding Special Voting Share (as defined below) have been
duly authorized and are validly issued, fully paid and
non-assessable. “Special Voting Shares” means the shares of a series
of Preference Shares, par value $1.00 per share, of the Company designated as
the “Special Voting Shares (A Series of Preference Shares).”
(h) The
Indenture has been duly qualified under the Trust Indenture Act and has been
duly authorized, executed and delivered by the Company and is a valid and
binding agreement of the Company, enforceable against the Company in accordance
with its terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, fraudulent transfer or other
similar laws relating to or affecting creditors’ rights generally and by general
principles of equity and public policy.
4
(i) The
Securities have been duly authorized by the Company and, at the Closing Date,
will have been duly executed by the Company and, when authenticated by the
Trustee in accordance with the provisions of the Indenture and delivered to and
paid for by the Underwriters in accordance with this Agreement, will be valid
and binding obligations of the Company, enforceable against the Company in
accordance with their terms, except as may be limited by bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance, fraudulent transfer or other
similar laws relating to or affecting creditors’ rights generally and by general
principles of equity and public policy.
(j) The
Trustee has been duly appointed by the Company to serve as, and is, the trustee,
security registrar, transfer agent and paying agent under the
Indenture. The Trustee has filed a Form T-1 as part of the
Registration Statement and the Form T-1 is effective.
(k) The
Securities and the Indenture conform and will conform in all material respects
to the respective statements relating thereto contained in the Time of Sale
Prospectus and the Prospectus.
(l) The
execution and delivery by the Company of, and the performance by the Company of
its obligations under, this Agreement, the Indenture, the Securities, the
Original Assumption Agreement and the Second Assumption Agreement,
and the execution and delivery by WNR of, and the performance by WNR of its
obligations under, the Original Assumption Agreement and the Second
Assumption Agreement, will not contravene any provision of applicable law or the
restated articles of incorporation or bylaws of the Company or the articles of
incorporation or bylaws of WNR or any agreement or other instrument binding upon
the Company or any of its subsidiaries that is material to the Company and its
subsidiaries, taken as a whole, or any judgment, order or decree of any
governmental body, agency or court having jurisdiction over the Company or any
subsidiary, and no consent, approval, authorization or order of, or
qualification with, any governmental body or agency is required for the
performance by the Company of its obligations under this Agreement, the
Indenture, the Securities, the Original Assumption Agreement or the
Second Assumption Agreement or for the performance by WNR of its obligations
under the Original Assumption Agreement or the Second Assumption
Agreement, except such as may be required by the securities or Blue Sky laws of
the various states in connection with the offer and sale of the
Securities. As used in this Agreement, all references to
“subsidiaries” of the Company include, without limitation, WNR.
(m) There
has not occurred any material adverse change, or any development involving a
prospective material adverse change, in the condition, financial or otherwise,
or in the earnings, business or operations of the Company and its subsidiaries,
taken as a whole, from that set forth in the Time of Sale Prospectus on the date
of this Agreement.
(n) There
are no legal or governmental proceedings pending or threatened to which the
Company or any of its subsidiaries is a party or to which any of the properties
of the Company or any of its subsidiaries is subject that are required to be
described in the Registration Statement, the Time of Sale Prospectus or the
Prospectus and are not so described or any statutes, regulations, contracts or
other documents that are required to be described in the Registration Statement,
the Time of Sale Prospectus or the Prospectus or to be filed as exhibits to the
Registration Statement that are not described or filed as
required.
5
(o) Each
preliminary prospectus filed as part of the registration statement as originally
filed or as part of any amendment thereto, or filed pursuant to Rule 424
under the Securities Act, complied when so filed in all material respects with
the Securities Act and the Securities Act Regulations.
(p) The
Company and WNR are not, and after giving effect to the offering and sale of the
Securities and the application of the proceeds thereof as described in the
Prospectus neither the Company nor WNR will be, required to register as an
“investment company” as such term is defined in the Investment Company Act of
1940, as amended.
(q) The
Company and its subsidiaries (i) are in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to
the protection of human health and safety, the environment or hazardous or toxic
substances or wastes, pollutants or contaminants (“Environmental Laws”),
(ii) have received all permits, licenses or other approvals required of
them under applicable Environmental Laws to conduct their respective businesses
and (iii) are in compliance with all terms and conditions of any such
permit, license or approval, except where such noncompliance with Environmental
Laws, failure to receive required permits, licenses or other approvals or
failure to comply with the terms and conditions of such permits, licenses or
approvals would not, singly or in the aggregate, have a material adverse effect
on the Company and its subsidiaries, taken as a whole.
(r) There
are no costs or liabilities associated with Environmental Laws (including,
without limitation, any capital or operating expenditures required for clean-up,
closure of properties or compliance with Environmental Laws or any permit,
license or approval, any related constraints on operating activities and any
potential liabilities to third parties) which would, singly or in the aggregate,
have a material adverse effect on the Company and its subsidiaries, taken as a
whole.
(s) There
are no contracts, agreements or understandings between the Company and any
person granting such person the right to require the Company to file a
registration statement under the Securities Act with respect to any securities
of the Company or to require the Company to include such securities with the
Securities registered pursuant to the Registration Statement.
(t) The
Company and each of its subsidiaries (i) have all necessary consents,
authorizations, approvals, orders, certificates and permits of and from, and
have made all declarations and filings with, all federal, state, local and other
governmental, administrative or regulatory authorities, all self-regulatory
organizations and all courts and other tribunals, to own, lease, license and use
their respective properties and assets and to conduct their respective
businesses in the manner described in the Time of Sale Prospectus and the
Prospectus, except to the extent that the failure to obtain such consents,
authorizations, approvals, orders, certificates and permits or make such
declarations and filings would not have a material adverse effect on the Company
and its subsidiaries, taken as a whole, and (ii) have not received any
notice of proceedings relating to revocation or modification of any such
consent, authorization, approval, order, certificate or permit which, singly or
in the aggregate, if the subject of an unfavorable decision, ruling or finding,
would have a material adverse effect on the Company and its subsidiaries, taken
as a whole.
6
(u) No
material labor dispute exists with the employees of the Company or any of its
subsidiaries or, to the Company’s knowledge, is imminent; and the Company is not
aware of any existing, threatened or imminent labor disturbance by the employees
of any of its principal suppliers, manufacturers or contractors that could have
a material adverse effect on the Company and its subsidiaries, taken as a
whole.
(v) The
Company and its subsidiaries have good and marketable title in fee simple to all
real property and good and marketable title to all personal property owned by
them which is material to the Company and its subsidiaries, taken as a whole, in
each case free and clear of all liens, encumbrances and defects, except such as
(i) are described in the Time of Sale Prospectus and the Prospectus,
(ii) do not materially affect the value of such property, (iii) do not
interfere with the use made and proposed to be made of such property by them or
(iv) would not have a material adverse effect on the Company and its
subsidiaries, taken as a whole; any real property and buildings held under lease
or license by them are held under valid, subsisting and enforceable leases or
licenses, as the case may be, with such exceptions as are not material to the
Company and its subsidiaries, taken as a whole, and do not interfere with the
use made and proposed to be made of such property and buildings by them in a
manner that would have a material adverse effect on the Company and its
subsidiaries, taken as a whole; and all licenses to harvest timber granted by
Canada or any province or territory thereof to the Company or any of its
subsidiaries are valid, subsisting and enforceable, with such exceptions as are
not material to the Company and its subsidiaries, taken as a whole.
(w) Each
of the Company and its subsidiaries own, possess or can acquire on reasonable
terms, adequate trademarks, trade names and other rights to inventions,
know-how, patents, copyrights, confidential information and other intellectual
property (collectively, “intellectual property rights”)
necessary to conduct the business now operated by them, or presently employed by
them, and have not received any notice of infringement of or conflict with
asserted rights of others with respect to any intellectual property rights that,
if determined adversely to the Company or any of its subsidiaries, would
individually or in the aggregate reasonably be expected to have a material
adverse effect on the Company and its subsidiaries, taken as a
whole.
(x) The
financial statements and related notes included in the Registration Statement,
the Time of Sale Prospectus and the Prospectus present fairly the financial
position of the Company and its consolidated subsidiaries as of the dates shown
and their results of operations and cash flows for the periods shown, and such
financial statements and the notes thereto have been prepared in conformity with
generally accepted accounting principles in the United States applied on a
consistent basis except as disclosed therein; and there are no pro forma
financial statements that the Company is required to include or incorporate by
reference in the Registration Statement, the Time of Sale Prospectus or the
Prospectus pursuant to the Securities Act or the Exchange Act or the rules and
regulations of the Commission thereunder.
7
(y) The
Company and its subsidiaries maintain systems of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations;
(ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability; (iii) access to assets is permitted
only in accordance with management’s general or specific authorization; and
(iv) the recorded accountability for assets is compared with the existing
assets at reasonable intervals and appropriate action is taken with respect to
any differences.
(z) Except
for standing timber, for which the Company does not maintain insurance, the
Company and its subsidiaries have insurance covering their respective
properties, operations, personnel and businesses, including business
interruption insurance, which insurance is in amounts and insures against such
losses and risks as are adequate to protect the Company and its subsidiaries and
their respective businesses taken as a whole; and neither the Company nor any of
its subsidiaries has (i) received notice from any insurer or agent of such
insurer that capital improvements or other expenditures are required or
necessary to be made in order to continue such insurance or (ii) any reason
to believe that it will not be able to renew its existing insurance coverage as
and when such coverage expires or to obtain similar coverage at reasonable cost
from similar insurers as may be necessary to continue its business, except, in
the case of both (i) and (ii), where the failure to continue or renew such
coverage or to obtain similar coverage at reasonable cost from similar insurers,
individually or in the aggregate, would not have a material adverse effect on
the Company and its subsidiaries, taken as a whole.
(aa) There
is and has been no failure on the part of the Company or any of the Company’s
directors or officers, in their capacities as such, to comply with
Section 402 (related to loans) and Sections 302 and 906 (related to
certifications) of the Xxxxxxxx-Xxxxx Act of 2002 (the “Xxxxxxxx-Xxxxx Act”) and the
rules and regulations promulgated in connection therewith (the “Xxxxxxxx-Xxxxx Regulations”),
nor, to the best knowledge of the Company, has there been any failure on the
part of the Company or any of the Company’s directors or officers, in their
capacities as such, to comply with any other provision of the Xxxxxxxx-Xxxxx Act
or the Xxxxxxxx-Xxxxx Regulations.
8
(bb) Except
as disclosed in the Time of Sale Prospectus and the Prospectus, with respect to
the stock options (the “Stock
Options”) granted pursuant to the stock-based compensation plans of the
Company and its subsidiaries (the “Company Stock Plans”), (i)
each grant of a Stock Option was duly authorized no later than the date on which
the grant of such Stock Option was by its terms to be effective (the “Grant Date”) by all necessary
corporate action, including, as applicable, approval by the board of directors
of the Company (or a duly constituted and authorized committee thereof), (ii)
each such grant was made in accordance with the terms of the Company Stock
Plans, the Exchange Act and all other applicable laws and regulatory rules or
requirements, including the rules of the New York Stock Exchange, (iii) the per
share exercise price of each Stock Option was equal to or greater than the fair
market value of a share of the applicable stock on the applicable Grant Date and
(iv) each such grant was properly accounted for in accordance with generally
accepted accounting principles consistently applied as in effect in the United
States in the financial statements of the Company and disclosed in the Company’s
filings with the Commission in accordance with the Exchange Act and all other
applicable laws. The Company has not knowingly granted, and there is
no and has been no policy or practice of the Company of granting, Stock Options
prior to, or otherwise coordinate the grant of Stock Options with, the release
or other public announcement of material information regarding the Company or
its subsidiaries or their results of operations or prospects. The
Company has not designated any Stock Options as “incentive stock options” under
Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).
(cc) Each
of the Original Assumption Agreement and the Second Assumption
Agreement has been duly authorized by the Company and WNR; and the Original
Assumption Agreement has been duly executed and delivered by the Company and WNR
and is a valid and binding agreement of the Company and WNR, enforceable against
the Company and WNR in accordance with its terms, and on the Closing Date, the
Second Assumption Agreement will have been duly executed and delivered by the
Company and WNR and will be a valid and binding agreement of the Company and
WNR, enforceable against the Company and WNR in accordance with its terms, in
each case except as may be limited by bankruptcy, insolvency, reorganization,
moratorium, fraudulent conveyance, fraudulent transfer or other similar laws
relating to or affecting creditors’ rights generally and by general principles
of equity and public policy.
(dd) The
transactions contemplated by this Agreement, the Securities, the Indenture, the
Original Assumption Agreement and the Assumption Agreement have been duly
approved by a majority of the Continuing Directors (as defined in Article X of
the amended and restated articles of incorporation of the Company “Article X”)
voting separately and as a subclass of directors.
(ee) The
Securities rank and will rank pari passu in right of payment with all existing
and future unsecured senior indebtedness of the Company and senior in right of
payment to all other existing and future unsecured indebtedness of the
Company.
2. Agreements to Sell and
Purchase. The Company hereby agrees to sell to the several
Underwriters, and each Underwriter, upon the basis of the representations and
warranties herein contained, but subject to the conditions hereinafter stated,
agrees, severally and not jointly, to purchase from the Company the respective
principal amounts of Securities set forth in Schedule I hereto opposite its name
at a purchase price of 98.145% of the principal amount thereof (the “Purchase
Price”).
9
3. Terms of Public
Offering. The Company is advised by you that the Underwriters
propose to make a public offering of their respective portions of the Securities
as soon after this Agreement has become effective as in your judgment is
advisable. The Company is further advised by you that the Securities are to be
offered to the public upon the terms set forth in the Prospectus.
4. Payment and
Delivery. Payment for the Securities shall be made to the
Company in Federal or other funds immediately available in New York City against
delivery of such Securities for the respective accounts of the several
Underwriters at 10:00 a.m., New York City time, on October 1, 2009, or at
such other time on the same or such other date, not later than October 8, 2009,
as shall be designated in writing by you. The time and date of such
payment are hereinafter referred to as the “Closing Date.”
The
Securities shall be registered in such names and in such denominations as you
shall request in writing not later than one full business day prior to the
Closing Date. The Securities shall be delivered to you on the Closing
Date for the respective accounts of the several Underwriters, with any transfer
taxes payable in connection with the transfer of the Securities to the
Underwriters duly paid, against payment of the Purchase Price
therefor.
5. Conditions to the Underwriters’
Obligations. The obligations of the Company to sell the Securities to the
Underwriters and the several obligations of the Underwriters to purchase and pay
for the Securities on the Closing Date are subject to the condition that no stop
order suspending the effectiveness of the Registration Statement shall have been
issued under the Securities Act or proceedings therefor initiated or threatened
by the Commission.
The
several obligations of the Underwriters are subject to the following further
conditions:
(a) Subsequent
to the execution and delivery of this Agreement and prior to the Closing
Date:
(i) there
shall not have occurred any downgrading, nor shall any notice have been given of
any intended or potential downgrading or of any review for a possible change
that does not indicate the direction of the possible change, in the rating
accorded any of the Company’s securities by any “nationally recognized
statistical rating organization,” as such term is defined for purposes of
Rule 436(g)(2) under the Securities Act; and
(ii) there
shall not have occurred any change, or any development involving a prospective
change, in the condition, financial or otherwise, or in the earnings, business
or operations of the Company and its subsidiaries, taken as a whole, from that
set forth in the Time of Sale Prospectus on the date of this Agreement that, in
the judgment of Xxxxxx Xxxxxxx & Co. Incorporated (“Xxxxxx Xxxxxxx”), Deutsche
Bank Securities Inc. (“Deutsche
Bank”) and X.X. Xxxxxx Securities Inc. (“X.X. Xxxxxx”), is material and
adverse and that makes it, in the judgment of Xxxxxx Xxxxxxx, Deutsche Bank and
X.X. Xxxxxx, impracticable to market the Securities on the terms and in the
manner contemplated in the Time of Sale Prospectus or the
Prospectus.
10
(b) The
Underwriters shall have received on the Closing Date a certificate, dated the
Closing Date and signed by an executive officer of the Company, to the effect
set forth in Section 5(a)(i) above and to the effect that the
representations and warranties of the Company contained in this Agreement are
true and correct as of the Closing Date and that the Company has complied with
all of the agreements and satisfied all of the conditions on its part to be
performed or satisfied hereunder on or before the Closing Date.
The
officer signing and delivering such certificate may rely upon the best of his or
her knowledge as to proceedings threatened.
(c) The
Underwriters shall have received on the Closing Date an opinion of Xxx Xxxxxxx,
Senior Legal Counsel of the Company, dated the Closing Date, to the effect set
forth in Exhibit B hereto.
(d) The
Underwriters shall have received on the Closing Date an opinion and negative
assurance statement of Sidley Austin llp, counsel for the Underwriters, dated
the Closing Date, in form and substance satisfactory to you.
(e) The
Underwriters shall have received, on each of the date hereof and the Closing
Date, a letter dated the date hereof or the Closing Date, as the case may be, in
form and substance satisfactory to the Underwriters, from KPMG LLP, an
independent registered public accounting firm, containing statements and
information of the type ordinarily included in accountants’ “comfort letters” to
underwriters with respect to the financial statements and certain financial
information contained in or incorporated by reference into the Registration
Statement, the Time of Sale Prospectus and the Prospectus and any amendments or
supplements thereto; provided that the letter delivered on the Closing Date
shall use a “cut-off date” not earlier than the date hereof.
(f) The
Underwriters shall have received copies of the signed Second Assumption
Agreement and Original Assumption Agreement, each as executed by the parties
thereto and in form and substance satisfactory to you.
6. Covenants of the
Company. In further consideration of the agreements of the
Underwriters herein contained, the Company covenants with each Underwriter as
follows:
(a) To
furnish to you, without charge, three signed copies of the Registration
Statement (including exhibits thereto and documents incorporated by reference)
and for delivery to each other Underwriter a conformed copy of the Registration
Statement (without exhibits thereto but including documents incorporated by
reference) and to furnish to you in New York City, without charge, prior to
10:00 a.m. New York City time on the business day next succeeding the date
of this Agreement and during the periods mentioned in Section 6(e) and (f)
below, as many copies of the Time of Sale Prospectus, the Prospectus, any
documents incorporated by reference therein and any supplements and amendments
thereto or to the Registration Statement as you may reasonably
request.
11
(b) Before
amending or supplementing the Registration Statement, the Time of Sale
Prospectus or the Prospectus, to furnish to you a copy of each such proposed
amendment or supplement and not to file any such proposed amendment or
supplement to which you reasonably object, and to file with the Commission
within the applicable period specified in Rule 424(b) under the Securities
Act any prospectus or prospectus supplement required to be filed pursuant to
such Rule.
(c) To
furnish to you a copy of each proposed free writing prospectus to be prepared by
or on behalf of, used by, or referred to by the Company and not to use or refer
to any proposed free writing prospectus to which you reasonably
object.
(d) Not
to take any action that would result in an Underwriter or the Company being
required to file with the Commission pursuant to Rule 433(d) under the
Securities Act a free writing prospectus prepared by or on behalf of the
Underwriter that the Underwriter otherwise would not have been required to file
thereunder.
(e) If
the Time of Sale Prospectus is being used to solicit offers to buy the
Securities at a time when the Prospectus is not yet available to prospective
purchasers and any event shall occur or condition exist as a result of which it
is necessary to amend or supplement the Time of Sale Prospectus in order to make
the statements therein, in the light of the circumstances when delivered to a
prospective purchaser, not misleading, or if any event shall occur or condition
exist as a result of which the Time of Sale Prospectus conflicts with the
information contained in the Registration Statement then on file, or if, in the
opinion of counsel for the Underwriters, it is necessary to amend or supplement
the Time of Sale Prospectus to comply with applicable law, forthwith to prepare,
file with the Commission and furnish, at its own expense, to the Underwriters
and to any dealer upon request, either amendments or supplements to the Time of
Sale Prospectus so that the statements in the Time of Sale Prospectus as so
amended or supplemented will not, in the light of the circumstances when
delivered to a prospective purchaser, be misleading or so that the Time of Sale
Prospectus, as amended or supplemented, will no longer conflict with the
Registration Statement, or so that the Time of Sale Prospectus, as amended or
supplemented, will comply with applicable law.
(f) If,
during such period after the first date of the public offering of the Securities
as in the opinion of counsel for the Underwriters the Prospectus (or in lieu
thereof the notice referred to in Rule 173(a) of the Securities Act) is required
by law to be delivered in connection with sales by an Underwriter or dealer, any
event shall occur or condition exist as a result of which it is necessary to
amend or supplement the Prospectus in order to make the statements therein, in
the light of the circumstances when the Prospectus (or in lieu thereof the
notice referred to in Rule 173(a) of the Securities Act) is delivered to a
purchaser, not misleading, or if, in the opinion of counsel for the
Underwriters, it is necessary to amend or supplement the Prospectus to comply
with applicable law, forthwith to prepare, file with the Commission and furnish,
at its own expense, to the Underwriters and to the dealers (whose names and
addresses you will furnish to the Company) to which Securities may have been
sold by you on behalf of the Underwriters and to any other dealers upon request,
either amendments or supplements to the Prospectus so that the statements in the
Prospectus as so amended or supplemented will not, in the light of the
circumstances when the Prospectus (or in lieu thereof the notice referred to in
Rule 173(a) of the Securities Act) is delivered to a purchaser, be misleading or
so that the Prospectus, as amended or supplemented, will comply with applicable
law.
12
(g) To
endeavor to qualify the Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions as you shall reasonably
request.
(h) To
make generally available to the Company’s security holders and to you as soon as
practicable an earning statement covering a period of at least twelve months
beginning with the first fiscal quarter of the Company occurring after the date
of this Agreement which shall satisfy the provisions of Section 11(a) of the
Securities Act and the rules and regulations of the Commission
thereunder.
(i) Whether
or not the transactions contemplated in this Agreement are consummated or this
Agreement is terminated, to pay or cause to be paid all expenses incident to the
performance of its obligations under this Agreement, including: (i) the
fees, disbursements and expenses of the Company’s counsel and the Company’s
accountants in connection with the registration and delivery of the Securities
under the Securities Act and all other fees or expenses in connection with the
preparation and filing of the Registration Statement, any preliminary
prospectus, the Time of Sale Prospectus, the Prospectus, any free
writing prospectus prepared by or on behalf of, used by, or referred to by the
Company and amendments and supplements to any of the foregoing, including the
filing fees payable to the Commission relating to the Securities, all printing
costs associated therewith, and the mailing and delivering of copies thereof to
the Underwriters and dealers, in the quantities hereinabove specified,
(ii) all costs and expenses related to the transfer and delivery of the
Securities to the Underwriters, including any transfer or other taxes payable
thereon, (iii) the cost of printing or producing any Blue Sky or Legal
Investment memorandum in connection with the offer and sale of the Securities
under state securities laws and all expenses in connection with the
qualification of the Securities for offer and sale under state securities laws
as provided in Section 6(g) hereof, including filing fees and the
reasonable fees and disbursements of counsel for the Underwriters in connection
with such qualification and in connection with the Blue Sky or Legal Investment
memorandum, (iv) all filing fees and the reasonable fees and disbursements
of counsel to the Underwriters incurred in connection with the review and
qualification of the offering of the Securities by the Financial Industry
Regulatory Authority Inc., (v) any fees charged by rating agencies for the
rating of the Securities, (vi) the cost of the preparation, issuance and
delivery of the Securities, (vii) the costs and charges of any trustee,
transfer agent, registrar or depositary, (viii) the costs and expenses of
the Company relating to investor presentations on any “road show” undertaken in
connection with the marketing of the offering of the Securities, including,
without limitation, expenses associated with the preparation or dissemination of
any electronic road show, expenses associated with the production of road show
slides and graphics, fees and expenses of any consultants engaged in connection
with the road show presentations with the prior approval of the Company, travel
and lodging expenses of the representatives and officers of the Company and any
such consultants, and the cost of any aircraft chartered in connection with the
road show, (ix) the document production charges and expenses associated
with printing this Agreement and (x) all other costs and expenses incident
to the performance of the obligations of the Company hereunder for which
provision is not otherwise made in this Section. It is understood, however, that
except as provided in this Section, Section 8 entitled “Indemnity and
Contribution,” and the last paragraph of Section 10 below, the Underwriters
will pay all of their costs and expenses, including fees and disbursements of
their counsel, transfer taxes payable on resale of any of the Securities by them
and any advertising expenses connected with any offers they may
make.
13
(j) During
the period beginning on the date of this Agreement and continuing through and
including the Closing Date, not to offer, sell, contract to sell or otherwise
dispose of any debt securities of the Company substantially similar to the
Securities without the prior written consent of Xxxxxx Xxxxxxx, Deutsche Bank
and X.X. Xxxxxx.
(k) To
prepare and to provide to the Underwriters, as promptly as practicable after the
time that the final terms of the Securities and the offering thereof have been
established, a final term sheet relating to the offering of the Securities,
containing only information that describes the final terms of the Securities or
the offering in a form consented to by you, and to file such final term sheet
within the period required by Rule 433(d)(5)(ii) under the Securities
Act.
(l) On
the Closing Date, the Company will make a cash contribution to WNR in the amount
set forth in the Second Assumption Agreement.
7. Covenants of the
Underwriters. Each Underwriter severally covenants with the
Company not to take any action that would result in the Company being required
to file with the Commission under Rule 433(d) a free writing prospectus prepared
by or on behalf of such Underwriter that otherwise would not be required to be
filed by the Company thereunder, but for the action of the
Underwriter.
8. Indemnity and
Contribution. (a) The Company agrees to indemnify and hold
harmless each Underwriter, each person, if any, who controls any Underwriter
within the meaning of either Section 15 of the Securities Act or
Section 20 of the Exchange Act, and each affiliate of any Underwriter
within the meaning of Rule 405 under the Securities Act, from and against
any and all losses, claims, damages and liabilities (including, without
limitation, any legal or other expenses reasonably incurred 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 the
Registration Statement, any preliminary prospectus, the Time of Sale Prospectus,
any “road show” as defined in Rule 433(h) under the Securities Act that is
a free writing prospectus, any “issuer free writing prospectus” as defined in
Rule 433(h) under the Securities Act, any “issuer information” as defined in
Rule 433(h) under the Securities Act that the Company has filed, or is required
to file, pursuant to Rule 433(d) under the Securities Act, or the Prospectus, or
any amendment or supplement to any of the foregoing, 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, 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 any Underwriter furnished to the Company in writing by
such Underwriter through you expressly for use therein.
14
(b) Each
Underwriter agrees, severally and not jointly, to indemnify and hold harmless
the Company, its directors, its officers who sign the Registration Statement and
each person, if any, who controls the Company within the meaning of either
Section 15 of the Securities Act or Section 20 of the Exchange Act to
the same extent as the foregoing indemnity from the Company to such Underwriter,
but only with reference to information relating to such Underwriter furnished to
the Company in writing by such Underwriter through you expressly for use in the
Registration Statement, any preliminary prospectus, the Time of Sale Prospectus,
any “issuer free writing prospectus” as defined in Rule 433(h) under the
Securities Act or the Prospectus or any amendment or supplement to any of the
foregoing.
(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 Section 8(a) or 8(b), 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 fees and disbursements of such counsel related to
such proceeding. 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 respect of the legal
expenses of any indemnified party 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. Such firm shall be designated in writing by Xxxxxx Xxxxxxx,
Deutsche Bank and X.X. Xxxxxx, in the case of parties indemnified pursuant to
Section 8(a), and by the Company, in the case of parties indemnified
pursuant to Section 8(b). The indemnifying party shall not be liable for
any settlement of any proceeding effected without its 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. 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 any indemnified party is or could have been a party and indemnity has
been or 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.
15
(d) To
the extent the indemnification provided for in Section 8(a) or 8(b) is
unavailable to an indemnified party or insufficient in respect of any losses,
claims, damages or liabilities referred to therein, 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 (i) in such
proportion as is appropriate to reflect the relative benefits received by the
Company on the one hand and the Underwriters on the other hand from the offering
of the Securities or (ii) if the allocation provided by clause 8(d)(i)
above is not permitted by applicable law, in such proportion as is appropriate
to reflect not only the relative benefits referred to in clause 8(d)(i) above
but also the relative fault of the Company on the one hand and of the
Underwriters 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 benefits received by the
Company on the one hand and the Underwriters on the other hand in connection
with the offering of the Securities shall be deemed to be in the same respective
proportions as the net proceeds from the offering of the Securities (before
deducting expenses) received by the Company and the total underwriting discounts
and commissions received by the Underwriters, in each case as set forth in the
table on the cover page of the Prospectus, bear to the aggregate initial public
offering price of the Securities as set forth in such table. The
relative fault of the Company on the one hand and the Underwriters on the other
hand 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
or by the Underwriters and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
The Underwriters’ respective obligations to contribute pursuant to this
Section 8 are several in proportion to the respective principal amounts of
Securities they have purchased hereunder, and not joint.
(e) The
Company and the Underwriters agree that it would not be just or equitable if
contribution pursuant to this Section 8 were determined by pro rata allocation (even if
the Underwriters were treated as one entity for such purpose) or by any other
method of allocation that does not take account of the equitable considerations
referred to in Section 8(d). The amount paid or payable by an
indemnified party as a result of the losses, claims, damages and liabilities
referred to in Section 8(d) 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 8, no Underwriter shall be required to contribute any amount in
excess of the amount by which the total price at which the Securities
underwritten by it and distributed to the public were offered to the public
exceeds the amount of any damages that such Underwriter 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 Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent
misrepresentation. The remedies provided for in this Section 8 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.
(f) The
indemnity and contribution provisions contained in this Section 8 and the
representations, warranties and other statements of the Company contained in
this Agreement 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 any Underwriter, any person controlling any Underwriter or any
affiliate of any Underwriter or by or on behalf of the Company, its officers or
directors or any person controlling the Company and (iii) acceptance of and
payment for any of the Securities.
16
9. Termination. The
Underwriters may terminate this Agreement by notice given by you to the Company,
if after the execution and delivery of this Agreement and prior to purchase of
the Securities by the Underwriters on the Closing Date (i) trading
generally shall have been suspended or materially limited on, or by, as the case
may be, any of the New York Stock Exchange, the American Stock Exchange, the
NASDAQ Global Market, the Chicago Board of Options Exchange, the Chicago
Mercantile Exchange or the Chicago Board of Trade, (ii) trading of any
securities of the Company shall have been suspended on any exchange or in any
over-the-counter market, (iii) a material disruption in securities
settlement, payment or clearance services in the United States shall have
occurred, (iv) any moratorium on commercial banking activities shall have
been declared by Federal or New York State authorities or (v) there shall
have occurred any outbreak or escalation of hostilities, or any change in
financial markets, currency exchange rates or controls or any calamity or crisis
that, in the judgment of Xxxxxx Xxxxxxx, Deutsche Bank and X.X. Xxxxxx, is
material and adverse and which, singly or together with any other event
specified in this clause (v), makes it, in the judgment of Xxxxxx Xxxxxxx,
Deutsche Bank and X.X. Xxxxxx, impracticable or inadvisable to proceed with the
offer, sale or delivery of the Securities on the terms and in the manner
contemplated in the Time of Sale Prospectus or the Prospectus.
10. Effectiveness; Defaulting
Underwriters. This Agreement shall become effective upon the
execution and delivery hereof by the parties hereto.
If, on
the Closing Date, any one or more of the Underwriters shall fail or refuse to
purchase Securities that it has or they have agreed to purchase hereunder on
such date, and the aggregate principal amount of Securities which such
defaulting Underwriter or Underwriters agreed but failed or refused to purchase
is not more than one-tenth of the aggregate principal amount of Securities to be
purchased on such date, the other Underwriters shall be obligated severally in
the proportions that the principal amount of Securities set forth opposite their
respective names in Schedule I bears to the aggregate principal amount of
Securities set forth opposite the names of all such non-defaulting Underwriters,
or in such other proportions as you may specify, to purchase the Securities
which such defaulting Underwriter or Underwriters agreed but failed or refused
to purchase on such date; provided that in no event
shall the principal amount of Securities that any Underwriter has agreed to
purchase pursuant to this Agreement be increased pursuant to this
Section 10 by an amount in excess of one-ninth of such principal amount of
Securities without the written consent of such Underwriter. If, on
the Closing Date, any Underwriter or Underwriters shall fail or refuse to
purchase Securities and the aggregate principal amount of Securities with
respect to which such default occurs is more than one-tenth of the aggregate
principal amount of Securities to be purchased on such date, and arrangements
satisfactory to you and the Company for the purchase of such Securities are not
made within 36 hours after such default, this Agreement shall terminate without
liability on the part of any non-defaulting Underwriter or the Company. In any
such case either you or the Company shall have the right to postpone the Closing
Date, but in no event for longer than seven days, in order that the required
changes, if any, in the Registration Statement, in the Time of Sale Prospectus
and in the Prospectus or in any other documents or arrangements may be
effected. Any action taken under this paragraph shall not relieve any
defaulting Underwriter from liability in respect of any default of such
Underwriter under this Agreement.
17
If this
Agreement shall be terminated by the Underwriters, or any of them, because of
any failure or refusal on the part of the Company to comply with the terms or to
fulfill any of the conditions of this Agreement, or if for any reason the
Company shall be unable to perform its obligations under this Agreement, the
Company will reimburse the Underwriters or such Underwriters as have so
terminated this Agreement with respect to themselves, severally, for all
out-of-pocket expenses (including the fees and disbursements of their counsel)
reasonably incurred by such Underwriters in connection with this Agreement or
the offering contemplated hereunder.
11. Absence of Fiduciary
Relationship. The Company acknowledges and agrees that the
Underwriters named in this Agreement are acting solely in the capacity of an
arm’s length contractual counterparty to the Company with respect to the
offering of Securities contemplated hereby (including in connection with
determining the terms of the offering) and not as a financial advisor or a
fiduciary to, or an agent of, the Company or any other
person. Additionally, no such Underwriter is advising the Company or
any other person as to any legal, tax, investment, accounting or regulatory
matters in any jurisdiction. The Company shall consult with its own
advisors concerning such matters and shall be responsible for making its own
independent investigation and appraisal of the transactions contemplated hereby,
and the Underwriters shall have no responsibility or liability to the Company
with respect thereto. Any review by the Underwriters of the Company, the
transactions contemplated hereby or other matters relating to such transactions
will be performed solely for the benefit of the Underwriters and shall not be on
behalf of the Company. The Company waives to the full extent
permitted by applicable law any claims it may have against the Underwriters
arising from an alleged breach of fiduciary duty in connection with the offering
of the Securities.
12. Counterparts. This
Agreement may be signed in two or more counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon
the same instrument.
13. Applicable
Law. This Agreement shall be governed by and construed in
accordance with the internal laws of the State of New York.
14. Notices. All
communications hereunder shall be in writing and effective only upon receipt and
if to the Underwriters shall be delivered, mailed or sent to them at Xxxxxx
Xxxxxxx & Co. Incorporated, 1500 Xxxxxxxx, 00xx Xxxxx,
Xxx Xxxx, Xxx Xxxx 00000, Attention: Investment Banking Division,
Deutsche Bank Securities Inc., 60 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, 00000,
attention: Debt Capital Markets—Syndicate Desk, and X.X.
Xxxxxx Securities Inc., 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000,
Attention: High Grade Syndicate Desk – 0xx Xxxxx; and, if to the Company, shall
be delivered, mailed or sent to it at 00000 Xxxxxxxxxxxx Xxx Xxxxx, Xxxxxxx Xxx,
Xxxxxxxxxx 00000, Attention: Vice President and Treasurer.
15. Headings. The
headings of the sections of this Agreement have been inserted for convenience of
reference only and shall not be deemed a part of this
Agreement.
[The
remainder of this page has been left blank intentionally]
18
Very
truly yours,
|
|
WEYERHAEUSER
COMPANY
|
|
By:
|
|
Name:
|
|
Title:
|
Accepted
as of the date hereof
|
|
XXXXXX
XXXXXXX & CO.
INCORPORATED
|
|
By:
|
|
Name:
|
|
Title:
|
|
DEUTSCHE
BANK SECURITIES INC.
|
|
By:
|
|
Name:
|
|
Title:
|
|
By:
|
|
Name:
|
|
Title:
|
|
X.X.
XXXXXX SECURITIES INC.
|
|
By:
|
|
Name:
|
|
Title:
|
Acting severally on behalf of themselves and the several Underwriters named
in Schedule I hereto.
19
SCHEDULE
I
Underwriter
|
Principal
Amount
of
Securities
To
Be Purchased
|
|||
Xxxxxx
Xxxxxxx & Co. Incorporated
|
$ | 125,000,000 | ||
Deutsche
Bank Securities Inc.
|
125,000,000 | |||
X.X.
Xxxxxx Securities Inc
|
125,000,000 | |||
Banc
of America Securities LLC
|
37,500,000 | |||
Citigroup
Global Markets Inc.
|
37,500,000 | |||
Xxxxxxx,
Xxxxx & Co.
|
25,000,000 | |||
Mitsubishi
UFJ Securities (USA), Inc.
|
12,500,000 | |||
Scotia
Capital (USA) Inc.
|
12,500,000 | |||
Total
|
$ | 500,000,000 |
SCHEDULE
II
Free
Writing Prospectuses
1. Free
writing prospectus dated September 28, 2009
EXHIBIT A
Weyerhaeuser
Real Estate Company
Weyerhaeuser
NR Company
Xxxxxx
Homes
Weyerhaeuser
Company Limited
A-1