REGISTRATION RIGHTS AGREEMENT Dated November 22, 2006 among ELAN FINANCE PUBLIC LIMITED COMPANY, ELAN FINANCE CORP., ELAN CORPORATION, PLC, CERTAIN SUBSIDIARY GUARANTORS and GOLDMAN, SACHS & CO., MORGAN STANLEY & CO. INCORPORATED AND J & E DAVY
Exhibit 2(b)(3)
EXECUTION
VERSION
Dated November 22, 2006
among
ELAN FINANCE PUBLIC LIMITED COMPANY,
ELAN FINANCE CORP.,
ELAN FINANCE CORP.,
ELAN CORPORATION, PLC,
CERTAIN SUBSIDIARY GUARANTORS
and
XXXXXXX, XXXXX & CO.,
XXXXXX XXXXXXX & CO. INCORPORATED AND
J & E DAVY
XXXXXX XXXXXXX & CO. INCORPORATED AND
J & E DAVY
THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made and entered into November
22, 2006, among ELAN FINANCE PUBLIC LIMITED COMPANY, a public limited company incorporated and
registered under the laws of Ireland and ELAN FINANCE CORP., a Delaware corporation (each, a
co-issuer, and together, the “Issuer”), ELAN CORPORATION, PLC, a public limited company
incorporated and registered under the laws of Ireland (the “Company”), the subsidiary
guarantors listed on the signature pages hereto (the “Subsidiary Guarantors”, and together
with the Company, the “Guarantors”) and XXXXXXX, XXXXX & CO., XXXXXX XXXXXXX & CO.
INCORPORATED and J & E DAVY (the “Initial Purchasers”).
This Agreement is made pursuant to the Purchase Agreement dated November 17, 2006, among the
Issuer, the Company, the Subsidiary Guarantors and the Initial Purchasers (the “Purchase
Agreement”), which provides for the sale by the Issuer to the Initial Purchasers of an
aggregate of $465 million principal amount of the Issuer’s 8.875% Senior Notes due 2013 (the
“Fixed Rate Notes”) and an aggregate of $150 million principal amount of the Issuer’s
Senior Floating Notes due 2013 (the “Floating Rate Notes” and, together with the Fixed Rate
Notes, the “Notes”). The Notes will be unconditionally guaranteed (the
“Guarantees”) on an unsecured and unsubordinated basis by the Guarantors. The Notes will
be represented by global certificates in fully registered form, in minimum denominations of $75,000
and integral multiples of $1,000 in excess thereof, and will be issued pursuant to an indenture
(the “Indenture”) dated November 22, 2006, among the Issuer, the Company, the Subsidiary
Guarantors and The Bank of New York, as trustee. We refer in this Agreement to the Notes and the
Guarantees as the “Securities”. In order to induce the Initial Purchasers to enter into
the Purchase Agreement, the Issuer and the Guarantors have agreed to provide to the Initial
Purchasers 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 Purchase
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.
“Black-Out Periods” shall have the meaning set forth in Section 3 hereof.
“Company” shall have the meaning set forth in the preamble.
“Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) therein.
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“Exchange Offer” shall mean the exchange offer by the Issuer 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 F-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 securities issued by the Issuer and the
Guarantors under the Indenture, and, in the case of the Notes, containing terms identical to
the Securities (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 November 22,
2006 and (ii) the Exchange Securities will not contain restrictions on transfer and the
Exchange Securities shall not be subject to any increase in annual interest by operation of
this Agreement) and to be offered to Holders of Securities in exchange for Securities
pursuant to the Exchange Offer.
“Guarantees” shall have the meaning set forth in the preamble.
“Guarantors” shall have the meaning set forth in the preamble and shall also
include each Guarantor’s successors.
“Holder” shall mean the Initial Purchasers, 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 have the meaning set forth in the preamble and shall also
include any amendment thereto made from time to time in accordance with the terms thereof.
“Indemnified Party” shall have the meaning set forth in Section 5(c) hereof.
“Indemnifying Party” shall have the meaning set forth in Section 5(c) hereof.
“Initial Purchasers” shall have the meaning set forth in the Preamble.
“Issue Date” shall mean the first date of issuance of Securities under the
Indenture.
“Issuer” shall have the meaning set forth in the preamble and shall also
include the Issuer’s successors.
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“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 Issuer or any of its affiliates (as
such term is defined in Rule 405 under the 0000 Xxx) (other than the Initial Purchasers 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 determining whether such consent or approval was given by the Holders of such
required percentage or amount.
“Notes” shall have the meaning set forth in the preamble.
“Participating Broker-Dealer” shall have the meaning set forth in Section 4(a)
hereof.
“Person” shall mean an individual, partnership, limited liability company,
corporation, trust or unincorporated organization, or a government or agency or political
subdivision thereof.
“Purchase Agreement” 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.
“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 pursuant to such
Registration Statement, (ii) when such Securities have been sold to the public pursuant to
Rule 144(k) (or any similar provision then in force, but not Rule 144A) under the 1933 Act
or (iii) when such Securities shall have ceased to be outstanding.
“Registration Expenses” shall mean any and all expenses incident to performance
of or compliance by the Issuer and the Guarantors with this Agreement, including without
limitation: (i) all SEC, stock exchange or National Association of Securities Dealers, Inc.
registration and filing fees, (ii) all fees and expenses incurred in connection with
compliance with state securities or blue sky laws (including reasonable fees and
disbursements of up to one counsel in each relevant jurisdiction for any underwriters (in an
Underwritten Offering) 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 preparing, word processing, printing and distributing any
Registration Statement, any Prospectus, any amendments or supplements thereto and any other
documents relating to the performance of and compliance with this Agreement and,
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in the case of an Underwritten Offering only, any underwriting agreement or securities
sales 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 Issuer and the Guarantors and, in the case of a Shelf Registration Statement, the
fees and disbursements of one counsel for the Holders (which counsel shall be selected by
the Majority Holders and which counsel shall be counsel for the Initial Purchasers unless
the Majority Holders determine otherwise) and (viii) the fees and disbursements of the
independent public accountants of the Issuer and the Guarantors, in the case of an
Underwritten Offering, including the expenses of any special audits or “cold comfort”
letters required by or incident to such performance and compliance; but excluding fees and
expenses of counsel to the underwriters or any advisers or experts retained by them (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 Issuer
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.
“Securities” shall have the meaning set forth in the preamble.
“Shelf Registration” shall mean a registration effected pursuant to Section
2(b) hereof.
“Shelf Registration Statement” shall mean a “shelf” registration statement of
the Issuer and the Guarantors pursuant to the provisions of Section 2(b) of this Agreement
which covers all 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.
“Subsidiary Guarantors” shall have the meaning set forth in the preamble.
“TIA” shall have the meaning set forth in Section 3(l) hereof.
“Trustee” shall mean The Bank of New York, as trustee with respect to the
Securities under the Indenture.
“Underwriter” shall have the meaning set forth in Section 3 hereof.
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“Underwritten Offering” shall mean a registration in which Registrable
Securities registered on a Shelf Registration Statement are sold to an Underwriter for
reoffering to the public, when such Underwritten Offering is requested by the Majority
Holders. References herein to “Underwritten Offering” shall refer only to the first such
offering occurring during the term of this Agreement.
2. Registration Under the 0000 Xxx.
(a) To the extent not prohibited by any applicable law or applicable interpretation of the
Staff of the SEC, the Issuer and the Guarantors shall file within 300 days of the Issue Date an
Exchange Offer Registration Statement covering the offer by the Issuer and the Guarantors to the
Holders to exchange all of the Registrable Securities for Exchange Securities and to use their
reasonable best efforts to cause such Registration Statement become effective within 365 days of
the Issue Date and remain effective until the closing of the Exchange Offer. The Issuer and the
Guarantors shall commence the Exchange Offer promptly after the Exchange Offer Registration
Statement has been declared effective by the SEC and use their reasonable best efforts to have the
Exchange Offer consummated not later than 35 days after such effective date. The Issuer and the
Guarantors shall commence the Exchange Offer by mailing the related exchange offer Prospectus and
accompanying documents to each Holder stating, in addition to such other disclosures as are
required by applicable law:
(i) that the Exchange Offer is being made pursuant to this Registration Rights
Agreement and that all Registrable Securities validly tendered and not validly 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 will not retain any rights under this 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 practicable after the last Exchange Date, the Issuer and the Guarantors shall:
(i) accept for exchange Registrable Securities or portions thereof validly tendered and
not validly withdrawn pursuant to the Exchange Offer; and
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(ii) deliver, or cause to be delivered, to the Trustee for cancellation all Registrable
Securities or portions thereof so accepted for exchange by the Issuer and the Guarantors and
issue, and cause the Trustee to promptly authenticate and mail to each Holder, an Exchange
Security equal in principal amount to the principal amount of the Registrable Securities
surrendered by such Holder.
The Issuer and the Guarantors shall use their reasonable best 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. The Issuer and the
Guarantors shall, subject to applicable law, inform the Initial Purchasers of the names and
addresses of the Holders to whom the Exchange Offer is made, and the Initial Purchasers shall have
the right, subject to applicable law, to contact such Holders and otherwise facilitate the tender
of Registrable Securities in the Exchange Offer.
(b) In the event that (i) the Issuer 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 for any other
reason consummated on or before the date that is 400 days after the Issue Date or (iii) the
Exchange Offer has been completed and in the opinion of counsel for the Initial Purchasers a
Registration Statement must be filed and a Prospectus must be delivered by the Initial Purchasers
in connection with any offering or sale of Registrable Securities, the Issuer and the Guarantors
shall use their reasonable best efforts to cause to be filed as soon as practicable after such
determination, date or notice of such opinion of counsel is given to the Issuer or the Guarantors,
as the case may be, a Shelf Registration Statement providing for the sale by the Holders of all of
the Registrable Securities and to have such Shelf Registration Statement declared effective by the
SEC. In the event the Issuer and the Guarantors are required to file a Shelf Registration
Statement solely as a result of the matters referred to in clause (iii) of the preceding sentence,
the Issuer and the Guarantors shall use their reasonable best efforts to file and have declared
effective by the SEC both an Exchange Offer Registration Statement pursuant to Section 2(a) with
respect to all Registrable Securities and a Shelf Registration Statement (which may be a combined
Registration Statement with the Exchange Offer Registration Statement) with respect to offers and
sales of Registrable Securities held by the Initial Purchasers after completion of the Exchange
Offer. The Issuer and the Guarantors agree to use their reasonable best efforts to keep the Shelf
Registration Statement continuously effective until the expiration of the period referred to in
Rule 144(k) with respect to the Registrable Securities or such shorter period that will terminate
when all of the Registrable Securities covered by the Shelf Registration Statement have been sold
pursuant to the Shelf Registration Statement. The Issuer 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 Issuer 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 requested by a Holder with respect to information relating
to such Holder, and to use their reasonable best efforts to cause any such amendment to become
effective and such Shelf Registration Statement to become usable as soon as practicable thereafter.
The Issuer and the Guarantors agree to
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furnish to the Holders of Registrable Securities copies of any such supplement or amendment
promptly after its being used or filed with the SEC.
(c) The Issuer 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 expenses of its
counsel (other than as expressly set forth in this Agreement) all underwriting discounts and
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 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. Subject to the
provisions of the penultimate paragraph of Section 3 hereof, in the event the Exchange Offer is not
consummated and the Shelf Registration Statement is not declared effective on or before the date
that is 400 days after the Issue Date, the interest rate on the Securities will be increased by
1.0% per annum until the Exchange Offer is consummated or the Shelf Registration Statement, if
required, is declared effective by the SEC.
(e) Without limiting the remedies available to the Initial Purchasers and the Holders, the
Issuer and the Guarantors acknowledge that any failure by the Issuer or the Guarantors to comply
with their obligations under Section 2(a) and Section 2(b) hereof may result in material
irreparable injury to the Initial Purchasers 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 Initial Purchasers or any Holder may obtain such relief as may
be required to specifically enforce the Issuer and the Guarantors’ obligations under Section 2(a)
and Section 2(b) hereof.
3. Registration Procedures.
In connection with the obligations of the Issuer and the Guarantors with respect to the
Registration Statements pursuant to Section 2(a) and Section 2(b) hereof, the Issuer 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 Issuer 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 or incorporate all financial statements required by
the SEC to be filed therewith, and use their reasonable best efforts to cause such Registration
Statement to become effective and remain effective in accordance with Section 2 hereof;
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(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 Initial Purchasers, 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, including each preliminary Prospectus, and any amendment or supplement thereto and such
other documents as such Holder or Underwriter may reasonably request, in order to facilitate the
public sale or other disposition of the Registrable Securities (it being understood that documents
available on XXXXX shall be deemed to be so furnished as of the date of their availability on
XXXXX); and the Issuer and the Guarantors consent 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 their reasonable best 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 by
the time the applicable Registration Statement is declared effective by the SEC, to cooperate with
such Holders in connection with any filings required to be made with the NASD, 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, neither the Issuer nor any Guarantor shall 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, counsel
for the Holders and counsel for the Initial Purchasers 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 Issuer and the Guarantors 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 Issuer or the
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Guarantors receive 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 so that, in the case of the Registration Statement, it will not contain any
untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein not misleading, and in the case of a
Prospectus, it will not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein as necessary to be stated therein to make the statements
therein, in light of the circumstances under which they were made not misleading and (vi) of any
determination by the Issuer and the Guarantors that a post-effective amendment to a Registration
Statement would be appropriate;
(f) use their reasonable best efforts to obtain the withdrawal of any order suspending the
effectiveness of a Registration Statement as soon as practicable and provide prompt notice to each
Holder of the withdrawal of any such order;
(g) in the case of a Shelf Registration, 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);
(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
three 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 their reasonable best 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 Issuer 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 Issuer and the Guarantors have amended or supplemented the
Prospectus to correct such misstatement or omission;
(j) unless otherwise required by law or in the opinion of counsel to the Issuer or the
Guarantors, 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
after the initial filing of a Registration Statement, provide copies of
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such document to the Initial Purchasers and their counsel (and, in the case of a Shelf
Registration Statement, the Holders and their counsel) and make such of the representatives of the
Issuer and the Guarantors as shall be reasonably requested by the Initial Purchasers 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 Initial Purchasers and their counsel (and, in
the case of a Shelf Registration Statement, the Holders and their counsel) shall not have
previously been advised and furnished a copy or to which timely delivered reasonable comments by
the Initial Purchasers or their counsel (and, in the case of a Shelf Registration Statement, the
Holders or their counsel) shall not have been given reasonable consideration by the Issuers and
Guarantors;
(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 their reasonable best 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) to the extent required under the 1933 Act and the rules and regulations thereunder in
order to register the Guarantees under the 1933 Act, to cause each Guarantor to sign any
Registration Statement and take all other action necessary to register any such Guarantees under
the applicable Registration Statement;
(n) in the case of a Shelf Registration, make available for inspection by a representative of
the Holders of the Registrable Securities, any Underwriter participating in any disposition
pursuant to such Shelf Registration Statement (in the case of an Underwritten Offering), and
attorneys and accountants designated by the Holders, at reasonable times and in a reasonable
manner, all financial and other records, pertinent documents and properties of the Issuer and the
Guarantors, and cause the respective officers, directors and employees of the Issuer and the
Guarantors to supply all information reasonably requested by any such representative, Underwriter,
attorney or accountant in connection with a Shelf Registration Statement;
(o) in the case of a Shelf Registration, use their reasonable best efforts to cause all
Registrable Securities to be listed on any securities exchange or any automated quotation system on
which securities issued by the Issuer and the Guarantors which are substantially identical to the
Registrable Securities are then listed if requested by the Majority Holders, to the extent such
Registrable Securities satisfy applicable listing requirements;
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(p) use their reasonable best 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);
(q) if reasonably requested by any Holder of Registrable Securities covered by a Registration
Statement, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such
information with respect to such Holder as such Holder reasonably requests to be included therein
and (ii) make all required filings of such Prospectus supplement or such post-effective amendment
as soon as the Issuer and the Guarantors have received notification of the matters to be
incorporated in such filing; and
(r) in the case of a Shelf Registration, enter into such customary agreements and take all
such other actions in connection therewith (including those requested by the Holders of a majority
of the Registrable Securities being sold) in order to expedite or facilitate the disposition of
such Registrable Securities including, but not limited to, an Underwritten Offering and in such
connection, (i) to the extent possible, make such representations and warranties to the Holders and
any Underwriters of such Registrable Securities with respect to the business of the Issuer and the
Guarantors and their respective 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
and confirm the same if and when requested, (ii) obtain opinions of counsel to the Issuer 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) in the case of an Underwritten Offering, use
their reasonable best efforts to obtain “cold comfort” letters from the independent certified
public accountants of the Issuer and the Guarantors (and, if necessary, any other certified public
accountant of any subsidiary of the Issuer and the Guarantors, or of any business acquired by the
Issuer or the Guarantors for which financial statements and financial data are or are required to
be included in the Registration Statement) addressed to each Underwriter of Registrable Securities
and such other Persons who demonstrate to the reasonable satisfaction of such independent certified
public accountants that they have a due diligence defense under the Securities Act, 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 Issuer
and the Guarantors 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 Issuer and the Guarantors may require each
Holder of Registrable Securities to furnish to the Issuer and the Guarantors such information
regarding the Holder and the proposed distribution by such Holder of such Registrable Securities as
the Issuer and the Guarantors may from time to time reasonably request in writing.
11
In the case of a Shelf Registration Statement, each Holder agrees that, upon receipt of any
notice from the Issuer or the Guarantors of the happening of any event of the kind described in
Section 3(e)(v) hereof, such Holder will forthwith discontinue disposition of Registrable
Securities pursuant to a 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
Issuer or the Guarantors, such Holder will deliver to the Issuer (at its 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 any such
notice to suspend the disposition of Registrable Securities pursuant to a Registration Statement is
given, the Issuer 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. If, prior to the effectiveness of any Shelf Registration Statement, the Issuer
or the Guarantors is aware that such Shelf Registration Statement will not become effective within
the time required for effectiveness of such Shelf Registration Statement as a result of the
happening of any event of the kind described in Section 3(e)(v) hereof, the Issuers and the
Guarantors shall also be permitted to give a notice to such Holders of like effect. The Issuer and
the Guarantors may give any such notice only twice during any 365 day period and any such
suspensions may not exceed 30 days for each suspension and there may not be more than two
suspensions in effect during any 365 day period. Such periods of suspension are defined as
“Black-Out Periods”. If the Issuer and the Guarantors fail to keep the Shelf Registration
Statement effective at any time other then in a Black-Out Period, the interest rate on the
Securities will be increased by 1.0% per annum until such Shelf Registration Statement becomes and
remains effective.
The Holders of Registrable Securities covered by a Shelf Registration Statement who desire to
do so may sell such Registrable Securities in an Underwritten Offering. In any such Underwritten
Offering, the investment banker or investment bankers 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.
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.
The Issuer and the Guarantors understand 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
12
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 Issuer
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 Initial Purchasers 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 Issuer 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), 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 Issuer and the
Guarantors to deliver and shall not deliver such Prospectus after 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 Issuer and the Guarantors by the
Initial Purchasers or with the reasonable request in writing to the Issuer and the
Guarantors by one or more broker-dealers who certify to the Initial Purchasers, the Issuer
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 Issuer and the Guarantors shall be obligated (x) to deal only with one
entity representing the Participating Broker-Dealers, which shall be Xxxxxxx, Xxxxx & Co.
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
Initial Purchasers unless such counsel elects not to so act and (z) to cause to be delivered
only one, if 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 Initial Purchasers shall have no liability to the Issuer, 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 Issuer and the Guarantors agree, jointly and severally, to indemnify and hold harmless
each Initial Purchaser, each Holder and each Person, if any, who controls any Initial Purchaser or
any Holder within the meaning of either Section 15 of the 1933 Act or
13
Section 20 of the 1934 Act, or is under common control with, or is controlled by, any Initial
Purchaser or any Holder, and each affiliate of any Initial Purchaser 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 by any Initial
Purchaser, any Holder or any such controlling or affiliated Person in connection with defending or
investigating any such action or claim) caused by or arising out of or in connection with 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 or
arising out of or in connection with any untrue statement or alleged untrue statement of a material
fact contained in any Prospectus (as amended or supplemented if the Issuer 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 (i) any such untrue statement or omission or alleged untrue
statement or omission based upon information relating to the Initial Purchasers or any Holder
furnished to the Issuer and the Guarantors in writing through Xxxxxxx, Sachs & Co. or any selling
Holder expressly for use therein or (ii) the failure of such Initial Purchaser or Holder or control
person thereof to deliver a supplement or amendment to any Prospectus which would have corrected
such untrue statement or omission or alleged untrue statement or omission; provided such failure
did not result from the Issuer’s or the Guarantors’ failure to comply with Section 3 hereof. In
connection with any Underwritten Offering permitted by Section 3, the Issuer and the Guarantors
will provide indemnification no less favorable than as set forth above (or such other
indemnification acceptable to Holders or the Underwriters, if any) to 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 1934 Act).
(b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Issuer,
the Guarantors, the Initial Purchasers and the other selling Holders, and each of their respective
directors, officers and each Person, if any, who controls the Issuer, any Guarantor, any Initial
Purchaser 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 same extent as the foregoing indemnity from the Issuer and the
Guarantors to the Initial Purchasers and the Holders, but only with reference to information
relating to such Holder furnished to the Issuer and the Guarantors in writing by such Holder
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 Section 5(a) or 5(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
shall be entitled to participation therein and, at its election assume the defense thereof (except
in connection with any proceeding described in the next succeeding sentence) and shall, upon
request of the Indemnified Party, shall retain counsel reasonably
14
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. 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 one local counsel in each
jurisdiction where appropriate) 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
Xxxxxxx, Xxxxx & Co., in the case of parties indemnified pursuant to Section 5(a) above, and by the
Company, in the case of parties indemnified pursuant to Section 5(b) above. 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. 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 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 any
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) To the extent the indemnification provided for in Section 5(a) or 5(b) is judicially
determined to be 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 Issuer and the Guarantors on the one hand and the Initial Purchasers on the other hand from the
offering of the Securities or (ii) if the allocation provided by clause 5(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 5(d)(i) above but also the relative fault of the Issuer and the
Guarantors on the one hand and of the Initial Purchasers 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 Issuer and the
Guarantors on the one hand and the Initial Purchasers on the other hand in connection with the
offering of the
15
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 Issuer and the total
discounts and commissions received by the Initial Purchasers, bear to the aggregate offering price
of the Securities. The relative fault of the Issuer and the Guarantors on the one hand and of the
Initial Purchasers 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 Issuer and the Guarantors
or by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The Initial Purchasers’ respective
obligations to contribute pursuant to this Section 5 are several in proportion to the respective
principal amount of Securities they have purchased hereunder, and not joint.
(e) The Issuer, 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
(even if the Initial Purchasers 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 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
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 Initial Purchasers, any Holder or any Person controlling
any Initial Purchaser or any Holder, or by or on behalf of the Issuer and the Guarantors, their
respective officers or directors or any Person controlling the Issuer 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 Issuer 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 Issuer and
the Guarantors’ other issued and outstanding securities under any such agreements.
16
(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 Issuer 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 Issuer and 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 Initial
Purchasers, the address set forth in the Purchase Agreement; and (ii) if to the Issuer and the
Guarantors, initially at the Issuer’s and the Company’s address set forth in the Purchase Agreement
and thereafter at such 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 Purchase 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 Initial Purchasers (in their
capacity as Initial Purchasers) shall have no liability or obligation to the Issuer and 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 Issuer and the Guarantors shall not, and
shall use their best efforts to cause their affiliates (as defined in Rule 405 under the 0000 Xxx)
not to, purchase and then resell or otherwise transfer any Securities.
17
(f) Third Party Beneficiary. The Holders shall be third party beneficiaries to the
agreements made hereunder between the Issuer and the Guarantors, on the one hand, and the Initial
Purchasers, 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.
(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) Submission to Jurisdiction; Appointment of Agent for Service; Waiver of Immunity.
The Issuer and each of the Guarantors agrees that any suit, action or proceeding against the Issuer
or any of the Guarantors brought by any Holders, the directors, officers, employees and agents of
any Holder, or by any person who controls any Holder, arising out of or based upon this Agreement
or the transactions contemplated hereby may be instituted in any state or federal court in The City
of New York, New York, and waives any objection which it may now or hereafter have to the laying of
venue of any such proceeding, and irrevocably submits to the non-exclusive jurisdiction of such
courts in any suit, action or proceeding.
Each of the Issuer and the Guarantors, to the fullest extent permitted by applicable law, (i)
irrevocably and fully waives the defense of an inconvenient forum to the maintenance of such suit
or proceeding and (ii) irrevocably designates and appoints CT Corporation, 000 Xxxxxx Xxxxxx, Xxx
Xxxx, Xxx Xxxx 00000, as its authorized agent (the “Authorized Agent”) upon whom process
may be served in any such suit or proceeding. In the event that such person is unable to serve as
the Authorized Agent for any reason, each of the Issuer and the Guarantors hereby agrees to
maintain the uninterrupted designation of an Authorized Agent upon whom process may be served in
any such suit or proceeding and agrees to notify you of the name and address of any such future
Authorized Agent. Each of the Issuer and the Guarantors, to the fullest extent permitted by
applicable law, hereby irrevocably authorizes and directs the Authorized Agent to accept such
service. Each of the Issuer and the Guarantors further agrees that service of process upon the
Authorized Agent and written notice of said service to the Issuer or the Guarantors mailed by first
class mail or delivered to the Authorized Agent shall be deemed in every respect effective service
of process upon the Issuer or the Guarantors, as the case may be, in any such suit or proceeding.
Nothing herein shall affect the right of any person to service process in any other manner
permitted by law.
Each of the Issuer and Guarantors agrees that a final action in any such suit or proceeding
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other lawful manner.
18
Each of the Issuer and the Guarantors hereby irrevocably waives, to the extent permitted by
law, any immunity to jurisdiction to which they may otherwise be entitled (including, without
limitation, immunity to pre-judgment attachment, post-judgment attachment and execution) in any
legal suit, action or proceeding against them arising out of or based on this Agreement or the
transactions contemplated hereby.
The provisions of this Section 6(j) are intended to be effective upon the execution of this
Agreement without the further action by the Issuer, the Guarantors, the Initial Purchasers or the
Holders and the introduction of a true copy of this Agreement into evidence shall be conclusive and
final evidence as to such matters.
(k) 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.
19
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.
ELAN FINANCE PUBLIC LIMITED COMPANY |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
ELAN FINANCE CORP. |
||||
By: | /s/ Xxxx X. Xxxxxxx | |||
Name: | Xxxx X. Xxxxxxx | |||
Title: | Vice President and Secretary | |||
ELAN CORPORATION, PLC |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
SUBSIDIARY GUARANTORS: ELAN HOLDINGS LIMITED |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
ELAN MANAGEMENT LIMITED |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
ELAN PHARMA INTERNATIONAL LIMITED |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
ELAN PHARMA LIMITED |
||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||
Name: | Xxxxxxx X. Xxxxxx | |||
Title: | Director | |||
MEADWAY PHARMACEUTICALS LTD. |
||||
By: | /s/ Xxxxx Xxxxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxxx Xxxxxx | |||
Title: | Director | |||
MONKSLAND HOLDINGS B.V. |
||||
By: | /s/ Xxxxx Xxxxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxxx Xxxxxx | |||
Title: | Director | |||
ELAN CAPITAL CORP. LTD. |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | President & Director | |||
ELAN FINANCE CORPORATION LTD. |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | President & Director | |||
ELAN INTERNATIONAL INSURANCE LIMITED |
||||
By: | Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | President & Director |
ELAN INTERNATIONAL SERVICES LTD. |
||||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | President & Director | |||
NEURALAB LIMITED |
||||
By: | /s Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | President & Director | |||
ATHENA NEUROSCIENCES, INC. |
||||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President and Secretary | |||
ATHENA NEUROSCIENCES FINANCE, LLC |
||||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President and Secretary | |||
ELAN DRUG DELIVERY, INC. |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx x. Xxxxxx | |||
Title: | President and CEO | |||
ELAN HOLDINGS, INC. |
||||
By: | /s/ Xxxxx X. Xxxxxx | |||
Name: | Xxxxx X. Xxxxxx | |||
Title: | President and CEO |
ELAN PHARMACEUTICALS, INC. |
||||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President and Secretary |
Confirmed and accepted as of
the date first above written:
the date first above written:
XXXXXXX, SACHS & CO.
XXXXXX XXXXXXX & CO. INCORPORATED
J & E DAVY
By: XXXXXXX, XXXXX & CO.
XXXXXX XXXXXXX & CO. INCORPORATED
J & E DAVY
By: XXXXXXX, XXXXX & CO.
By:
|
/s/ Xxxxxxx, Sachs & Co.
|