EL PASO CORPORATION as Issuer and HSBC BANK USA, NATIONAL ASSOCIATION as Trustee TENTH SUPPLEMENTAL INDENTURE Dated as of December 28, 2005 to INDENTURE Dated as of May 10, 1999 10¾% Senior Notes due 2010 9⅝% Senior Notes due 2012 7½% Senior Notes due...
EXHIBIT
4.A
EL
PASO
CORPORATION
as
Issuer
and
HSBC
BANK
USA, NATIONAL ASSOCIATION
as
Trustee
Dated
as of
December 28, 2005
to
INDENTURE
Dated
as of
May 10, 1999
10¾%
Senior
Notes due 2010
9⅝%
Senior
Notes due 2012
7.75%
Senior Notes due 2032
7.42%
Senior Notes due 2037
6.95%
Senior Notes due 2028
6.375%
Senior Notes due 2009
7.75%
Senior Notes due 2010
6.50%
Senior Notes due 2008
7.625%
Senior Notes due 2008
6.50%
Senior Notes due 2006
6.70%
Senior Notes due 2027
7½%
Senior
Notes due 2006
TABLE
OF
CONTENTS
Page
|
|
ARTICLE
1
Relation to Indenture; Definitions
|
2
|
SECTION
1.01.
Relation to Indenture
|
2
|
SECTION
1.02.
Definitions
|
2
|
SECTION
1.03.
General References
|
2
|
|
|
ARTICLE
2 The
Notes
|
|
SECTION
2.01.
The Forms of the Notes
|
2
|
SECTION
2.02.
Amount of Each Series of Notes
|
2
|
SECTION
2.03.
Regular Record Date
|
3
|
SECTION
2.04.
Global Securities; Restrictions on Transfer and Exchange
|
4
|
SECTION
2.05.
Transfer and Exchange
|
5
|
SECTION
2.06.
Legends
|
6
|
SECTION
2.07.
Denominations
|
6
|
SECTION
2.08.
Registration Rights Agreement
|
8
|
SECTION
2.09.
Additional Event of Default
|
8
|
SECTION
2.10.
Redemption of 6.70% Senior Notes due 2027
|
8
|
SECTION
2.11.
Redemption of 7.75% Senior Notes due 2032
|
9
|
|
|
ARTICLE
3
Miscellaneous
|
11
|
SECTION
3.01.
Certain Trustee Matters
|
11
|
SECTION
3.02.
Continued Effect
|
11
|
SECTION
3.03.
Governing Law
|
11
|
SECTION
3.04.
Counterparts
|
11
|
EXHIBITS
Exhibit
A-1:
|
Form
of 10¾%
Senior Note due 2010
|
Exhibit
A-2:
|
Form
of 9⅝%
Senior Note due 2012
|
Exhibit
A-3:
|
Form
of 7.75%
Senior Note due 2032
|
Exhibit
A-4:
|
Form
of 7.42%
Senior Note due 2037
|
Exhibit
A-5:
|
Form
of 6.95%
Senior Note due 2028
|
Exhibit
A-6:
|
Form
of
6.375% Senior Note due 2009
|
Exhibit
A-7:
|
Form
of 7.75%
Senior Note due 2010
|
Exhibit
A-8:
|
Form
of 6.50%
Senior Note due 2008
|
Exhibit
A-9:
|
Form
of
7.625% Senior Note due 2008
|
Exhibit
A-10:
|
Form
of 6.50%
Senior Note due 2006
|
Exhibit
A-11:
|
Form
of 6.70%
Senior Note due 2027
|
Exhibit
A-12:
|
Form
of 7½%
Senior Note due 2006
|
TENTH
SUPPLEMENTAL INDENTURE,
dated as of
December 28, 2005 (this “Supplemental
Indenture”),
between
EL
PASO
CORPORATION,
a Delaware
corporation (the “Company”),
and
HSBC
BANK
USA,
NATIONAL
ASSOCIATION,
a national
banking association, as successor-in-interest to JPMorgan Chase Bank (formerly
The Chase Manhattan Bank), as trustee under the Indenture referred to below
(in
such capacity, the “Trustee”).
RECITALS
OF
THE COMPANY
WHEREAS,
the
Company and the Trustee are parties to an Indenture dated as of May 10, 1999
(the “Original
Indenture”),
such Original
Indenture, as amended and supplemented from time to time (including without
limitation pursuant to this Supplemental Indenture), being referred to herein
as
the “Indenture”;
and
WHEREAS,
upon the
terms and subject to the conditions set forth in its Offering Memorandum and
Consent Solicitation Statement, dated December 2, 2005 (as amended and
supplemented to date), and in the related Letter of Transmittal and Consent,
the
Company has offered to exchange (the “Private
Exchange
Offer”)
all of the
outstanding debt securities heretofore issued by El Paso CGP Company, L.L.C.,
a
Delaware limited liability company (formerly known as El Paso CGP Company,
a
Delaware corporation) and a wholly-owned subsidiary of the Company
(“CGP”),
under (i) an
Indenture dated as of October 1, 1990, between CGP and The Bank of New York
Trust Company, N.A., as trustee (“BoNY”),
(ii) an
Indenture dated as of May 15, 1992, between CGP and BoNY, (iii) an Indenture
dated as of September 15, 1992, between CGP and BoNY, and (iv) an Indenture
dated as of February 24, 1997, between CGP and BoNY, for notes issued by the
Company under the Indenture; and
WHEREAS,
pursuant
to Section 901 of the Indenture, without the consent of any Holders, the Company
and the Trustee, at any time and from time to time, may enter into one or more
indentures supplemental to the Indenture to establish the form or terms of
securities of any series as permitted by Sections 201 and 301 of the Indenture;
and
WHEREAS,
in
connection with the Private Exchange Offer, the Company desires to create each
of the following series of Securities (collectively, the “Notes”):
(i)
|
a
series of
Securities in an aggregate principal amount of up to $56,573,000,
which
series shall be designated as the 10¾% Senior Notes due
2010,
|
(ii)
|
a
series of
Securities in an aggregate principal amount of up to $150,000,000,
which
series shall be designated as the 9⅝% Senior Notes due
2012,
|
(iii)
|
a
series of
Securities in an aggregate principal amount of up to $150,000,000,
which
series shall be designated as the 7.75% Senior Notes due
2032,
|
(iv)
|
a
series of
Securities in an aggregate principal amount of up to $200,000,000,
which
series shall be designated as the 7.42% Senior Notes due
2037,
|
(v)
|
a
series of
Securities in an aggregate principal amount of up to $200,000,000,
which
series shall be designated as the 6.95% Senior Notes due
2028,
|
(vi)
|
a
series of
Securities in an aggregate principal amount of up to $200,000,000,
which
series shall be designated as the 6.375% Senior Notes due
2009,
|
(vii)
|
a
series of
Securities in an aggregate principal amount of up to $400,000,000,
which
series shall be designated as the 7.75% Senior Notes due
2010,
|
(viii)
|
a
series of
Securities in an aggregate principal amount of up to $200,000,000,
which
series shall be designated as the 6.50% Senior Notes due
2008,
|
(ix)
|
a
series of
Securities in an aggregate principal amount of up to $215,000,000,
which
series shall be designated as the 7.625% Senior Notes due
2008,
|
(x)
|
a
series of
Securities in an aggregate principal amount of up to $109,500,000,
which
series shall be designated as the 6.50% Senior Notes due
2006,
|
(xi)
|
a
series of
Securities in an aggregate principal amount of up to $200,000,000,
which
series shall be designated as the 6.70% Senior Notes due 2027,
and
|
(xii)
|
a
series of
Securities in an aggregate principal amount of up to $204,910,000,
which
series shall be designated as the 7½% Senior Notes due 2006;
and
|
WHEREAS,
all action
on the part of the Company necessary to authorize the issuance of the Notes
under the Original Indenture and this Supplemental Indenture has been duly
taken; and
WHEREAS,
all acts
and things necessary to make the Notes, when executed by the Company and
authenticated and delivered by the Trustee as provided in the Indenture, the
valid and binding obligations of the Company and to make this Supplemental
Indenture a valid and binding agreement in accordance with the Original
Indenture have been done or performed; and
WHEREAS,
the
Company has entered into a Registration Rights Agreement dated as of December
28, 2005 (the “Registration
Rights Agreement”),
among the
Company, Xxxxxxx, Xxxxx & Co. (“Goldman”)
and Citigroup
Global Markets Inc. (“Citigroup”
and
collectively
with Goldman, the “Dealer
Managers”),
relating to the
Notes;
NOW,
THEREFORE, in
consideration of the premises, agreements and obligations set forth herein
and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto hereby agree, for the equal and
proportionate benefit of all Holders of the Notes, as follows:
ARTICLE
1
Relation
to
Indenture; Definitions
SECTION
1.01. Relation
to Indenture.
With
respect to the
Notes, this Supplemental Indenture constitutes an integral part of the
Indenture.
SECTION
1.02. Definitions.
For
all purposes of
this Supplemental Indenture, except as otherwise expressly provided herein,
capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned thereto in the Original Indenture.
SECTION
1.03. General
References.
All
references in
this Supplemental Indenture to Articles and Sections, unless otherwise
specified, refer to the corresponding Articles and Sections of this Supplemental
Indenture; and the terms “herein”,
“hereof”,
“hereunder”
and
any other
word of similar import refers to this Supplemental Indenture.
ARTICLE
2
The
Notes
SECTION
2.01. The
Forms of the Notes.
Notwithstanding
anything to the contrary set forth in the Original Indenture,
(1) the
10¾% Senior
Notes due 2010 shall be substantially in the form attached as Exhibit A-1
hereto;
(2) the
9⅝% Senior
Notes due 2012 shall be substantially in the form attached as Exhibit A-2
hereto;
(3) the
7.75% Senior
Notes due 2032 shall be substantially in the form attached as Exhibit A-3
hereto;
(4) the
7.42% Senior
Notes due 2037 shall be substantially in the form attached as Exhibit A-4
hereto;
(5) the
6.95% Senior
Notes due 2028 shall be substantially in the form attached as Exhibit A-5
hereto;
(6) the
6.375% Senior
Notes due 2009 shall be substantially in the form attached as Exhibit A-6
hereto;
(7) the
7.75% Senior
Notes due 2010 shall be substantially in the form attached as Exhibit A-7
hereto;
(8) the
6.50% Senior
Notes due 2008 shall be substantially in the form attached as Exhibit A-8
hereto;
(9) the
7.625% Senior
Notes due 2008 shall be substantially in the form attached as Exhibit A-9
hereto;
(10) the
6.50% Senior
Notes due 2006 shall be substantially in the form attached as Exhibit A-10
hereto;
(11) the
6.70% Senior
Notes due 2027 shall be substantially in the form attached as Exhibit A-11
hereto;
and
(12) the
7½% Senior
Notes due 2006 shall be substantially in the form attached as Exhibit A-12
hereto,
in
each case with
such appropriate insertions, omissions, substitutions and other variations
as
are required or permitted by the Indenture, and may have such letters, numbers
or other marks of identification and such legends or endorsements placed thereon
as the Company may deem appropriate or as may be required or appropriate to
comply with any laws or with any rules made pursuant thereto or with the rules
of any securities exchange or automated quotation system on which the Notes
may
be listed or traded, or to conform to general usage, or as may, consistently
with the Indenture, be determined by the officers executing such Notes, as
evidenced by their execution thereof.
Except
as otherwise
provided herein, the Notes shall be executed, authenticated and delivered in
accordance with the provisions of, and shall in all respects be subject to,
the
terms, conditions and covenants of the Original Indenture as supplemented by
this Supplemental Indenture (including the forms of Notes set forth as
Exhibits A-1
through
A-12
hereto (the terms
of which are incorporated in and made a part of this Supplemental Indenture
for
all intents and purposes)). In the event of any inconsistency between the
provisions of this Supplemental Indenture and the provisions of the Original
Indenture, the provisions of this Supplemental Indenture shall be controlling
with respect to the Notes.
SECTION
2.02. Amount
of Each Series of Notes.
(1) The
aggregate
principal amount of 10¾% Senior Notes due 2010 which may be authenticated and
delivered pursuant hereto is $56,573,000. The Trustee shall initially
authenticate and deliver 10¾% Senior Notes due 2010 for original issue in an
initial aggregate principal amount of $39,755,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(2) The
aggregate
principal amount of 9⅝% Senior Notes due 2012 which may be authenticated and
delivered pursuant hereto is $150,000,000. The Trustee shall initially
authenticate and deliver 9⅝% Senior Notes due 2012 for original issue in an
initial aggregate principal amount of $136,118,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(3) The
aggregate
principal amount of 7.75% Senior Notes due 2032 which may be authenticated
and
delivered pursuant hereto is $150,000,000. The Trustee shall initially
authenticate and deliver 7.75% Senior Notes due 2032 for original issue in
an
initial aggregate principal amount of $112,440,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(4) The
aggregate
principal amount of 7.42% Senior Notes due 2037 which may be authenticated
and
delivered pursuant hereto is $200,000,000. The Trustee shall initially
authenticate and deliver 7.42% Senior Notes due 2037 for original issue in
an
initial aggregate principal amount of $165,642,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(5) The
aggregate
principal amount of 6.95% Senior Notes due 2028 which may be authenticated
and
delivered pursuant hereto is $200,000,000. The Trustee shall initially
authenticate and deliver 6.95% Senior Notes due 2028 for original issue in
an
initial aggregate principal amount of $197,080,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(6) The
aggregate
principal amount of 6.375% Senior Notes due 2009 which may be authenticated
and
delivered pursuant hereto is $200,000,000. The Trustee shall initially
authenticate and deliver 6.375% Senior Notes due 2009 for original issue in
an
initial aggregate principal amount of $189,443,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(7) The
aggregate
principal amount of 7.75% Senior Notes due 2010 which may be authenticated
and
delivered pursuant hereto is $400,000,000. The Trustee shall initially
authenticate and deliver 7.75% Senior Notes due 2010 for original issue in
an
initial aggregate principal amount of $369,729,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(8) The
aggregate
principal amount of 6.50% Senior Notes due 2008 which may be authenticated
and
delivered pursuant hereto is $200,000,000. The Trustee shall initially
authenticate and deliver 6.50% Senior Notes due 2008 for original issue in
an
initial aggregate principal amount of $188,682,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(9) The
aggregate
principal amount of 7.625% Senior Notes due 2008 which may be authenticated
and
delivered pursuant hereto is $215,000,000. The Trustee shall initially
authenticate and deliver 7.625% Senior Notes due 2008 for original issue in
an
initial aggregate principal amount of $206,596,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(10) The
aggregate
principal amount of 6.50% Senior Notes due 2006 which may be authenticated
and
delivered pursuant hereto is $109,500,000. The Trustee shall initially
authenticate and deliver 6.50% Senior Notes due 2006 for original issue in
an
initial aggregate principal amount of $91,860,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(11) The
aggregate
principal amount of 6.70% Senior Notes due 2027 which may be authenticated
and
delivered pursuant hereto is $200,000,000. The Trustee shall initially
authenticate and deliver 6.70% Senior Notes due 2027 for original issue in
an
initial aggregate principal amount of $161,913,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
(12) The
aggregate
principal amount of 7½% Senior Notes due 2006 which may be authenticated and
delivered pursuant hereto is $204,910,000. The Trustee shall initially
authenticate and deliver 7½% Senior Notes due 2006 for original issue in an
initial aggregate principal amount of $182,525,000 upon delivery to the Trustee
of a Company Order for the authentication and delivery of such
Notes.
SECTION
2.03. Regular
Record Date.
The
“Regular
Record
Date”
for
each series
of Notes shall be as follows:
(1) with
respect to
each Interest Payment Date relating to the 10¾% Senior Notes due 2010, the
fifteenth calendar day of the month preceding the month in which such Interest
Payment Date occurs (whether or not a Business Day);
(2) with
respect to
each Interest Payment Date relating to the 9⅝% Senior Notes due 2012, the first
calendar day of the month in which such Interest Payment Date occurs (whether
or
not a Business Day);
(3) with
respect to
each Interest Payment Date relating to the 7.75% Senior Notes due 2032, the
first calendar day of the month in which such Interest Payment Date occurs
(whether or not a Business Day);
(4) with
respect to
each Interest Payment Date relating to the 7.42% Senior Notes due 2037, the
first calendar day of the month in which such Interest Payment Date occurs
(whether or not a Business Day);
(5) with
respect to
each Interest Payment Date relating to the 6.95% Senior Notes due 2028, the
fifteenth calendar day of the month preceding the month in which such Interest
Payment Date occurs (whether or not a Business Day);
(6) with
respect to
each Interest Payment Date relating to the 6.375% Senior Notes due 2009, the
fifteenth calendar day of the month preceding the month in which such Interest
Payment Date occurs (whether or not a Business Day);
(7) with
respect to
each Interest Payment Date relating to the 7.75% Senior Notes due 2010, the
first calendar day of the month in which such Interest Payment Date occurs
(whether or not a Business Day);
(8) with
respect to
each Interest Payment Date relating to the 6.50% Senior Notes due 2008, the
fifteenth calendar day of the month preceding the month in which such Interest
Payment Date occurs (whether or not a Business Day);
(9) with
respect to
each Interest Payment Date relating to the 7.625% Senior Notes due 2008, the
fifteenth calendar day of the month preceding the month in which such Interest
Payment Date occurs (whether or not a Business Day);
(10) with
respect to
each Interest Payment Date relating to the 6.50% Senior Notes due 2006, the
first calendar day of the month in which such Interest Payment Date occurs
(whether or not a Business Day);
(11) with
respect to
each Interest Payment Date relating to the 6.70% Senior Notes due 2027, the
first calendar day of the month in which such Interest Payment Date occurs
(whether or not a Business Day);
(12) with
respect to
each Interest Payment Date relating to the 7½% Senior Notes due 2006, the first
calendar day of the month in which such Interest Payment Date occurs (whether
or
not a Business Day).
SECTION
2.04. Global
Securities; Restrictions on Transfer and Exchange.
The
Notes of each
series shall initially be issued in the form of one or more Global Securities.
Such Global Securities (i) shall bear the legends applicable to Global
Securities set forth in the Original Indenture (including without limitation
in
Sections 202 and 204 thereof), (ii) may be exchanged in whole or in part
for Securities in definitive form upon the terms and subject to the conditions
provided in the Original Indenture (including without limitation
Section 305 thereof) and in this Supplemental Indenture and
(iii) shall otherwise be subject to the applicable provisions of the
Indenture.
(1) Rule
144A
Global Notes.
The Notes of any
series offered and sold to “qualified institutional buyers” (“QIBs”
or
individually,
a “QIB”)
(which term
shall have the meaning assigned to it in Rule 144A under the Securities Act
of
1933, as amended (the “Securities
Act”))
in the United
States of America in reliance on Rule 144A will initially be issued as permanent
Global Securities (the “Rule
144A Global
Notes”),
without
interest coupons, substantially in the form of the exhibit hereto that applies
to such series. The Rule 144A Global Notes will be duly executed by the Company,
authenticated by the Trustee, deposited with the Trustee (as custodian for
The
Depository Trust Company (“DTC”),
which shall act
as Depositary with respect to the Notes constituting Global Securities) and
registered in the name of DTC or a nominee thereof.
(2) Regulation
S
Global Notes.
The Notes of any
series offered and sold in Offshore Transactions to Non-U.S. Persons (each
such
term to have the meaning assigned to it in Regulation S under the Securities
Act
(“Regulation
S”))
in reliance on
Regulation S will initially be issued as permanent Global Securities (the
“Regulation
S
Global Notes”),
without
interest coupons, substantially in the form of the exhibit hereto that applies
to such series. The Regulation S Global Notes will be duly executed by the
Company, authenticated by the Trustee, deposited with the Trustee (as custodian
for DTC) and registered in the name of DTC or a nominee thereof.
SECTION
2.05. Transfer
and Exchange.
(1) Transfer
and
Exchange of Notes in Certificated Form.
In addition to
the requirements set forth in the Original Indenture (including without
limitation Section 305 thereof), the Notes of any series in certificated form
that are “Registrable Securities” under the Registration Rights Agreement (the
“Transfer
Restricted Securities”)
which are
presented or surrendered for registration of transfer or exchange pursuant
the
Original Indenture shall be accompanied by the following additional information
and documents, as applicable, upon which the Security Registrar and the Trustee
may conclusively rely:
(a) if
such Transfer
Restricted Securities are being delivered to the Security Registrar by a Holder
for registration in the name of such Holder, without transfer, a certification
from such Holder to that effect (in substantially the form of the
Exchange/Transfer Certificate included in the exhibit hereto that applies to
such series); or
(b) if
such Transfer
Restricted Securities are being transferred (1) to a QIB in accordance with
Rule
144A under the Securities Act or (2) pursuant to an exemption from registration
in accordance with Rule 144 under the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests) or (3) pursuant to an
effective registration statement under the Securities Act, a certification
to
that effect from the Holder (in substantially the form of the Exchange/Transfer
Certificate included in the exhibit hereto that applies to such series);
or
(c) if
such Transfer
Restricted Securities are being transferred pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act, certifications to that effect from the Holder (in substantially the form
of
both (i) the Exchange/Transfer Certificate included in the exhibit hereto that
applies to such series and (ii) the Regulation S Certificate included in such
exhibit) and an opinion of counsel to that effect if the Company or the Trustee
so requests; or
(d) if
such Transfer
Restricted Securities are being transferred in reliance on and in compliance
with another exemption from the registration requirements of the Securities
Act,
a certification to that effect from the Holder (in substantially the form of
the
Exchange/Transfer Certificate included in the exhibit hereto that applies to
such series) and an opinion of counsel to that effect if the Company or the
Trustee so requests.
(2) Transfer
and
Exchange of Global Notes.
The transfer and
exchange of the Global Notes (as defined below) or beneficial interests therein
shall be effected through the Depositary, upon the terms and subject to the
conditions provided in the Original Indenture, this Supplemental Indenture
(including the restrictions on transfer set forth therein and herein) and the
rules and procedures of the Depositary therefor, which shall include
restrictions on transfer comparable to those set forth therein and herein to
the
extent required by the Securities Act. Neither the Security Registrar nor the
Trustee shall have any liability or responsibility for any such transfers or
exchanges of the Global Notes or beneficial interests therein.
SECTION
2.06. Legends.
(1) Except
as permitted
by the following paragraphs (2) and (3) immediately below, each certificate
evidencing the Rule 144A Global Notes or Regulation S Global Notes (each a
“Global
Note”)
or any other
Notes in certificated form (and all Notes issued in exchange therefor or
substitution thereof other than the Exchange Notes (as defined below)) shall
bear a legend in substantially the following form:
THIS
SECURITY HAS
NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”) AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR
OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR
BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE FOLLOWING SENTENCE. BY
ITS
ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A)
IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING THIS
SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT IT WILL
NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO ACCOUNT
THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE) UNDER
THE
SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS SECURITY, RESELL
OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY
THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES IS A QIB PURCHASING
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE WITH RULE 144A
UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE
TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT, (D) PURSUANT
TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES
ACT
(IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE
SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH APPLICABLE STATE SECURITIES
LAWS, AND
(3) AGREES
THAT IT WILL
DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH
ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN THE TIME PERIOD
REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE
REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS
CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,”
“UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM BY RULE 902 OF
REGULATION S UNDER THE SECURITIES ACT.
(2) Upon
any sale or
transfer of a Transfer Restricted Security (including any Transfer Restricted
Security represented by a Global Note) pursuant to Rule 144 under the Securities
Act or an effective registration statement under the Securities Act, which
in
either case shall be certified by the Company to the Trustee and the Security
Registrar upon which each may conclusively rely:
(a) in
the case of any
Transfer Restricted Security of any series in definitive form, the Security
Registrar shall permit the Holder thereof to exchange such Transfer Restricted
Security for a Note of the same series in definitive form that does not bear
the
legend set forth in (1) above and rescind any restriction on the transfer of
such Transfer Restricted Security; and
(b) in
the case of any
Transfer Restricted Security represented by a Global Note, such Transfer
Restricted Security shall not be required to bear the legend(s) set forth in
(1)
above if all other interests in such Global Note have been or are concurrently
being sold or transferred pursuant to Rule 144 under the Securities Act or
pursuant to an effective registration statement under the Securities Act, but
such Transfer Restricted Security shall continue to be subject to the provisions
of Section 305 of the Original Indenture and this Section 2.06 of this
Supplemental Indenture.
(3) Notwithstanding
the
foregoing, upon consummation of the Registered Exchange Offer, as defined in
the
Registration Rights Agreement (the “Registered
Exchange Offer”),
the Company
shall issue and, upon receipt of a Company Order in accordance with the Original
Indenture, the Trustee shall authenticate Notes (“Exchange
Notes”)
in exchange for
Notes accepted for exchange in the Registered Exchange Offer, which Exchange
Notes shall not bear the legend set forth in (1) above, and the Security
Registrar shall rescind any restriction on the transfer of the Exchange Notes,
in each case unless the Holder of Notes being transferred in the Registered
Exchange Offer is either (A) a broker-dealer tendering Notes acquired directly
from the Company, (B) a person participating in the Registered Exchange Offer
for purposes of distributing the Exchange Notes or (C) a person who is an
“affiliate” (as defined in Rule 144 under the Securities Act) of the Company.
The Company shall identify to the Trustee and the Security Registrar such
Holders of the Notes in a written certification signed by an officer of the
Company and, absent receipt of a certificate from the Company to such effect,
the Trustee and the Security Registrar shall assume that there are no such
Holders.
SECTION
2.07. Denominations.
Notwithstanding
anything to the contrary set forth in the Original Indenture, the Notes of
each
series shall be issued in denominations of $1,000 and integral multiples of
$1,000.
SECTION
2.08. Registration
Rights Agreement.
Holders
of the
Notes of each series shall have the benefit of the Company’s registration
obligations with respect to the Notes, and such Holders shall also have certain
obligations to indemnify the Company under certain circumstances, all as more
fully set forth in the Registration Rights Agreement.
SECTION
2.09. Additional
Event of Default.
With
respect only
to the Notes of each series, in addition to the other events or circumstances
set forth as Events of Default in Section 501 of the Original Indenture, the
following event shall constitute an Event of Default: default in the payment
of
Liquidated Damages (as defined in the Registration Rights Agreement), if any,
when such Liquidated Damages become due and payable pursuant to the Registration
Rights Agreement and the continuance of such default for 30 days.
SECTION
2.10. Redemption
of 6.70% Senior Notes due 2027.
Notwithstanding
anything to the contrary set forth herein or in the Indenture, the provisions
of
this Section 2.10 shall apply to, and be for the equal and proportionate benefit
of all Holders of, only the 6.70% Senior Notes due 2027 (for the purposes of
this Section 2.10, the “6.70%
Notes”).
(1) The
6.70% Notes are
not redeemable at the Company’s option prior to their Stated Maturity. On
February 15, 2007, or if such date is not a Business Day, then the next
succeeding Business Day (for the purposes of this Section 2.10, the
“Redemption
Date”),
each Holder of
6.70% Notes will have the right (for the purposes of this Section 2.10, the
“Redemption
Right”)
to require the
Company to redeem all or any part (equal to $1,000 in principal amount or an
integral multiple thereof) of such Holder’s 6.70% Notes, in accordance with the
provisions set forth herein, for cash at a purchase price equal to 100% of
the
aggregate principal amount thereof (for the purposes of this Section 2.10,
the
“Redemption
Price”),
plus accrued
and unpaid interest, if any, thereon to the Redemption Date.
(2) On
or prior to
November 30, 2006, the Company shall send, by first class mail, postage prepaid,
a notice of the Redemption Right to each Holder of 6.70% Notes at its address
appearing in the Security Register, with a copy to the Trustee,
stating:
(a) that
such Holder
has the Redemption Right;
(b) the
Redemption
Date;
(c) the
Redemption
Price (including the amount of any accrued and unpaid interest);
(d) that
any 6.70% Note
not submitted for redemption will continue to accrue interest;
(e) that
on the
Redemption Date the Redemption Price shall become due and payable upon each
6.70% Note submitted for redemption pursuant to the Redemption Right and that,
unless the Company defaults in paying the Redemption Price therefor, any 6.70%
Note submitted for redemption pursuant to the Redemption Right shall cease
to
accrue interest after the Redemption Date;
(f) that
any Holder
electing to have a 6.70% Note redeemed pursuant to the Redemption Right will
be
required to surrender the 6.70% Note, or transfer the 6.70% Note by book-entry,
with the form entitled “Option of Holder to Elect Redemption on February 15,
2007” on the reverse side of such 6.70% Note, duly completed, to the Trustee
during the period from December 15, 2006 and prior to 5:00 p.m. (New York City
time) on January 15, 2007 (or if such date is not a Business Day, then the
next
succeeding Business Day) at the address specified in such notice;
(g) that
any election
on the part of a Holder to exercise the Redemption Right effected in accordance
herewith shall be irrevocable on the part of the Holder and may not be
withdrawn; and
(h) that
Holders whose
6.70% Notes are being redeemed only in part will be issued a new 6.70% Note
or
6.70% Notes equal in principal amount to the unredeemed portion of the 6.70%
Notes surrendered (which unredeemed portion must be equal to $1,000 in principal
amount or an integral multiple thereof).
(3) On
or prior to the
Redemption Date, the Company shall deposit with the Trustee or with the Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and
hold
in trust as provided in Section 1003 of the Indenture) an amount of cash
sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date) any accrued and unpaid interest on, all
6.70%
Notes or portions thereof which are to be redeemed on that date.
(4) The
6.70% Notes to
be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price thereof and from and after such date (unless the Company shall
default in the payment of the Redemption Price) such 6.70% Notes shall cease
to
bear interest. Upon submission of any 6.70% Note for redemption in accordance
with the provisions hereof, such 6.70% Note shall be paid by the Company at
the
Redemption Price, plus accrued and unpaid interest, if any, to the Redemption
Date; provided,
however,
that installments
of interest whose Stated Maturity is on or prior to the Redemption Date shall
be
payable to the Holders of such 6.70% Notes registered as such on the relevant
Record Date according to the terms and provisions hereof and Section 307 of
the
Indenture.
(5) If
any 6.70% Note
is to be redeemed in part, the Company shall execute and the Trustee, upon
Company Order, shall authenticate and deliver to the Holder of such 6.70% Note,
without service charge, a new 6.70% Note or 6.70% Notes equal in principal
amount to the unredeemed portion of the 6.70% Note surrendered (which unredeemed
portion must be equal to $1,000 in principal amount or an integral multiple
thereof).
(6) The
Company shall
comply with the requirements of Rule 14e-1 under the Securities Exchange Act
of
1934, as amended, and any other securities laws and regulations thereunder
to
the extent such laws and regulations are applicable to the redemption of the
6.70% Notes pursuant to the Redemption Right. To the extent that the provisions
of any such rule conflict with the provisions hereof relating to the Redemption
Right, the Company shall comply with the provisions of such rule and be deemed
not to have breached its obligations relating to the Redemption Right by virtue
thereof.
(7) All
questions
regarding the validity, form, eligibility (including time of receipt) and
acceptance of any 6.70% Notes for redemption will be determined by the Company,
and its determination will be final and binding.
SECTION
2.11. Redemption
of 7.75% Senior Notes due 2032.
Notwithstanding
anything to the contrary set forth herein or in the Indenture, the provisions
of
this Section 2.11 shall apply to, and be for the equal and proportionate benefit
of all Holders of, only the 7.75% Senior Notes due 2032 (for the purposes of
this Section 2.11, the “7.75%
Notes”).
(1) Each
7.75% Note
will be subject to redemption at the option of the Company on any date on and
after the Redemption Commencement Date specified on the face thereof, in whole
or from time to time in part, at the Make-Whole Price (as defined below), on
notice given no more than 60 nor less than 30 calendar days prior to the date
of
redemption (for the purposes of this Section 2.11, the “Redemption
Date”)
and in
accordance with the provisions of the Indenture.
(2) For
the purposes of
this Section 2.11, “Make-Whole
Price”
means
an amount
equal to the greater of (i) 100% of the principal amount of a 7.75% Note to
be
redeemed and (ii) as determined by an Independent Investment Banker (as defined
below), the sum of the present values of the remaining scheduled payments of
principal and interest thereon (not including any portion of such payments
of
interest accrued as of the Redemption Date) discounted back to the Redemption
Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate (as defined below) plus 25 basis points, plus,
in
the case of both (i) and (ii), accrued and unpaid interest to the Redemption
Date. Unless the Company defaults in payment of the Make-Whole Price, on and
after the Redemption Date, interest will cease to accrue on the principal amount
of a 7.75% Note to be redeemed. In the event of redemption of the 7.75% Note
in
part only, a new 7.75% Note of like tenor for the unredeemed portion thereof
and
otherwise having the same terms as the 7.75% Note shall be issued in the name
of
the Holder thereof upon the presentation and surrender thereof.
(3) For
the purposes of
this Section 2.11,
(a) “Comparable
Treasury Issue”
means
the United
States Treasury security selected by an Independent Investment Banker as having
a maturity comparable to the remaining term of a 7.75% Note that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such 7.75% Note;
(b) “Comparable
Treasury Price”
means,
with
respect to any Redemption Date, (i) the average of five Reference Treasury
Dealer Quotations for such Redemption Date, after excluding the highest and
lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee
obtains fewer than five such Reference Treasury Dealer Quotations, the average
of all such Reference Treasury Dealer Quotations;
(c) “Independent
Investment Banker”
means
one of the
Reference Treasury Dealers appointed by the Trustee after consultation with
the
Company;
(d) “Reference
Treasury Dealer”
means
(i) Banc of
America Securities LLC; ABN AMRO Incorporated; BNP Paribas Securities Corp.;
Credit Lyonnais Securities (USA) Inc. and X.X. Xxxxxx Securities Inc. and their
respective successors; provided,
however,
that if any of
the foregoing shall not be a primary U.S. government securities dealer in New
York City (for the purposes of this Section 2.11, a “Primary
Treasury
Dealer”),
the Company
shall substitute therefor another Primary Treasury Dealer; and (ii) any two
other Primary Treasury Dealers the Company selects;
(e) “Reference
Treasury Dealer Quotations”
means,
with
respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00
p.m.
on the third Business Day preceding such Redemption Date; and
(f) “Treasury
Rate”
means,
with
respect to any Redemption Date, (i) the yield, under the heading which
represents the average for the immediately preceding week, appearing in the
most
recently published statistical release designated “H.15(519)” or any successor
publication that is published weekly by the Board of Governors of the Federal
Reserve System and that establishes yields on actively traded United States
Treasury securities adjusted to constant maturity under the caption “Treasury
Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the Stated
Maturity, yields for the two published maturities most closely corresponding
to
the Comparable Treasury Issue shall be determined, and the Treasury Rate shall
be interpolated or extrapolated from such yields on a straight-line basis,
rounding to the nearest month) or (ii) if such release (or any successor
release) is not published during the week preceding the calculation date or
does
not contain such yields, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated using a price
for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date. The
Treasury Rate shall be calculated on the third Business Day preceding the
Redemption Date.
(4) Notwithstanding
Section 1104 of the Indenture, the notice of redemption with respect to the
foregoing redemption need not set forth the Make-Whole Price but only the manner
of calculation thereof. The Company shall notify the Trustee of the Make-Whole
Price with respect to the foregoing redemption promptly after the calculation
thereof, and the Trustee shall not be responsible for such
calculation.
ARTICLE
3
Miscellaneous
SECTION
3.01. Certain
Trustee Matters.
The
recitals
contained herein shall be taken as the statements of the Company, and the
Trustee assumes no responsibility for their correctness.
The
Trustee makes
no representations as to the validity or sufficiency of this Supplemental
Indenture or the Notes or the proper authorization or the due execution hereof
or thereof by the Company.
SECTION
3.02. Continued
Effect.
Except
as expressly
supplemented and amended by this Supplemental Indenture, the Original Indenture
(as supplemented and amended to date) shall continue in full force and effect
in
accordance with the provisions thereof, and the Original Indenture (as so
supplemented and amended, and as further supplemented and amended by this
Supplemental Indenture) is in all respects hereby ratified and confirmed. This
Supplemental Indenture and all its provisions shall be deemed a part of the
Original Indenture in the manner and to the extent herein and therein
provided.
SECTION
3.03. Governing
Law.
This
Supplemental
Indenture and the Notes shall be governed by and construed in accordance with
the laws of the State of New York.
SECTION
3.04. Counterparts.
This
instrument may
be executed in any number of counterparts, each of which shall be deemed to
be
an original, but all such counterparts shall together constitute but one and
the
same instrument.
(Signature
Pages Follow)
IN
WITNESS WHEREOF,
the parties hereto have caused this Supplemental Indenture to be duly executed
and delivered, all as of the day and year first above written.
EL
PASO
CORPORATION
By: /s/
Xxxx X.
Xxxxxx
Name:
Xxxx
X.
Xxxxxx
Title: Vice
President
and Treasurer
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
/s/
Herawattee
Alli
Authorized
Signatory
EXHIBIT
A-1
[FORM
OF
FACE OF 10¾% SENIOR NOTE DUE 2010]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
10¾%
Senior
Note due 2010
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on October 1, 2010 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each April 1 and October 1 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
April 1, 2006, at the rate of 10¾% per annum from, and including, October 1,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 10¾% Senior Notes due 2010 (hereinafter called
the “10¾%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 10¾% Note is a 10¾% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 10¾% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 10¾% Note set forth herein, which further
provisions shall for all purposes have the same effect as if set forth at this
place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 10¾% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-1
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-1
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
10¾% Senior Notes due 2010 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-1
[REVERSE
OF
10¾%
SENIOR
NOTE DUE 2010]
EL
PASO
CORPORATION
10¾%
Senior
Note due 2010
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 10¾% Senior Notes due 2010 of the Company (hereinafter called the
“10¾%
Notes”),
issued under
the Original Indenture, which 10¾% Notes are limited in aggregate principal
amount to $56,573,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 10¾% Notes limit or otherwise restrict the amount of indebtedness which may
be incurred or other securities which may be issued by the Company. The 10¾%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on October 1, 2010. The 10¾% Notes rank on parity with
all other unsecured, unsubordinated indebtedness of the Company.
The
10¾% Notes will
bear interest as set forth on the face hereof.
The
10¾% Notes are
not redeemable prior to their Stated Maturity.
The
10¾% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 10¾% Notes shall occur and be continuing, the
principal of the 10¾% Notes may be declared due and payable in the manner and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 10¾% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
10¾% Note and of any Security issued upon the registration of transfer hereof
or
in exchange herefor or in lieu hereof, whether or not notation of such consent
or waiver is made upon this 10¾% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 10¾% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 10¾% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 10¾% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 10¾% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 10¾% Note is registrable in the Security Register, upon surrender of this
10¾% Note for registration of transfer at the office or agency of the Company
in
the Borough of Manhattan, The City of New York, or at such other offices or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
10¾% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 10¾% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 10¾% Note is registered as the owner hereof for all purposes,
whether or not this 10¾% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
10¾% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 10¾% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
10¾% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-1
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-1
EXCHANGE/TRANSFER
CERTIFICATE
Re: 10¾%
Senior Notes
due 2010 of El Paso Corporation (the “10¾%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 10¾% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 10¾% Note or 10¾% Notes.
In
connection with
such request and in respect of each such 10¾% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 10¾% Notes and that the transfer of this 10¾% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
10¾% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
10¾% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 10¾%
Note).
□ Such
10¾% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
10¾% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-1
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 10¾% Senior Notes due
2010 (the “10¾%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i) the
offer of the
10¾% Notes was not made to a person in the United States of
America;
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-1
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-1
EXHIBIT
A-2
[FORM
OF
FACE OF 9⅝% SENIOR NOTE DUE 2012]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
9⅝%
Senior
Note due 2012
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on May 15, 2012 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each May 15 and November 15 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
May 15, 2006, at the rate of 9⅝% per annum from, and including, November 15,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 9⅝% Senior Notes due 2012 (hereinafter called
the “9⅝%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 9⅝% Note is a 9⅝% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 9⅝% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 9⅝% Note set forth herein, which further
provisions shall for all purposes have the same effect as if set forth at this
place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 9⅝% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-2
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-2
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
9⅝% Senior Notes due 2012 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-2
[REVERSE
OF
9⅝%
SENIOR
NOTE DUE 2012]
EL
PASO
CORPORATION
9⅝%
Senior
Note due 2012
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 9⅝% Senior Notes due 2012 of the Company (hereinafter called the
“9⅝%
Notes”),
issued under
the Original Indenture, which 9⅝% Notes are limited in aggregate principal
amount to $150,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 9⅝% Notes limit or otherwise restrict the amount of indebtedness which may
be incurred or other securities which may be issued by the Company. The 9⅝%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on May 15, 2012. The 9⅝% Notes rank on parity with all
other unsecured, unsubordinated indebtedness of the Company.
The
9⅝% Notes will
bear interest as set forth on the face hereof.
The
9⅝% Notes are
not redeemable prior to their Stated Maturity.
The
9⅝% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 9⅝% Notes shall occur and be continuing, the
principal of the 9⅝% Notes may be declared due and payable in the manner and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 9⅝% Note shall be
conclusive and binding upon such Holder and upon all future Holders of this
9⅝%
Note and of any Security issued upon the registration of transfer hereof or
in
exchange herefor or in lieu hereof, whether or not notation of such consent
or
waiver is made upon this 9⅝% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 9⅝% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 9⅝% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 9⅝% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 9⅝% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 9⅝% Note is registrable in the Security Register, upon surrender of this
9⅝% Note for registration of transfer at the office or agency of the Company
in
the Borough of Manhattan, The City of New York, or at such other offices or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
9⅝% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 9⅝% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 9⅝% Note is registered as the owner hereof for all purposes,
whether or not this 9⅝% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
9⅝% NOTE SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW
YORK.
Except
as otherwise
expressly provided herein, all terms used in this 9⅝% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
9⅝% Note is entitled to the benefits of the Registration Rights Agreement, dated
as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-2
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-2
EXCHANGE/TRANSFER
CERTIFICATE
Re: 9⅝%
Senior Notes
due 2012 of El Paso Corporation (the “9⅝%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 9⅝% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 9⅝% Note or 9⅝% Notes.
In
connection with
such request and in respect of each such 9⅝% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 9⅝% Notes and that the transfer of this 9⅝% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
9⅝% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
9⅝% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 9⅝%
Note).
□ Such
9⅝% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
9⅝% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-2
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 9⅝% Senior Notes due
2012 (the “9⅝%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i) the
offer of the
9⅝% Notes was not made to a person in the United States of America;
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-2
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-2
EXHIBIT
A-3
[FORM
OF
FACE OF 7.75% SENIOR NOTE DUE 2032]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
7.75%
Senior Note due 2032
(Fixed
Rate)
Original
Issue
Date: December
28,
2005
Interest
Rate: 7.75%
per
annum
Stated
Maturity
Date: January
15,
2032
Interest
Payment
Date(s): January
15 and July
15, commencing January 15, 2006
Regular
Record
Date(s): January
1 and July
1
Redemption: [
] No [X]
Yes:
Redemption
Commencement Date: December
28,
2005
Initial
Redemption Percentage: At
Make-Whole Price
(See Reverse of Note)
Annual
Redemption Percentage Reduction: N/A
Repayment: [X]
No [
] Yes, at Option
of Holder
Optional
Repayment Dates: N/A
Optional
Repayment Price: N/A
Interest
Rate
Reset: [X]
No [
] Yes, at Option
of the Company
Optional
Reset
Date(s): N/A
Extension
Of
Maturity: [X]
No [
] Yes, At Option
Of The Company
Extension
Period: N/A No.
of Extension
Periods:
N/A Final
Maturity: N/A
Specified
Currency: [X]
U.S.
Dollars [
]
Other:
Exchange
Rate
Agent: N/A
Authorized
Denomination: [X]
$1,000 and
Integral Multiples Thereof [
]
Other:
Original
Issue
Discount: [X]
No [
]
Yes:
Total
Amount of
OID: N/A Initial
Accrual
Period: N/A Yield
to
Maturity: N/A
Amortizing
Note: [X]
No [
] Yes (See
Addendum)
Indexed
Note: Addendum
Attached:
[X]
No [X]
No
[
] Yes (See
Addendum) [
]
Yes
Other
Provisions: None
Exhibit
A-3
EL
PASO CORPORATION
(the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to [_____________________]
[if
a Global
Security, insert -- Cede
&
Co.,
as
nominee for The Depository Trust Company], or registered assigns, the principal
sum of __________________________ [if
a Global
Security, insert -- ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto], on the Stated Maturity Date specified above (or any Redemption
Date or Repayment Date, each as defined on the reverse hereof) (each such Stated
Maturity Date, Redemption Date or Repayment Date being hereinafter referred
to
as the “Maturity”
with
respect to
the principal repayable on such date) and to pay interest thereon, at the
Interest Rate per annum specified above, until the principal hereof is paid
or
duly made available for payment. The Company will pay interest in arrears on
each Interest Payment Date, if any, specified above (each, an “Interest
Payment
Date”),
commencing with
the first Interest Payment Date next succeeding the Issue Date specified above,
and at Maturity; provided,
however,
that the first
payment of interest on any 7.75% Note (as defined on the reverse hereof)
originally issued between a record date and an Interest Payment Date will be
made on the first Interest Payment Date following the next succeeding record
date to the Holder of the 7.75% Note on such succeeding record date. Unless
otherwise specified on the face hereof, interest on this 7.75% Note will be
computed on the basis of a 360-day year of twelve 30-day months.
Notwithstanding
the
foregoing, if an Addendum is attached hereto or “Other Provisions” apply to this
7.75% Note as specified above, this 7.75% Note shall be modified by and subject
to the terms set forth in such Addendum or such “Other Provisions.”
Interest
on this
7.75% Note will accrue from, and including, October 15, 2005 (or from and
including the most recent date to which interest has been paid or duly provided
for) to, but excluding, the applicable Interest Payment Date or the Maturity,
as
the case may be. The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will, subject to certain exceptions described
herein, be paid to the person in whose name this 7.75% Note (or one or more
predecessor 7.75% Notes) is registered at the close of business on the Regular
Record Date (whether or not a Business Day, as defined below) immediately
preceding such Interest Payment Date; provided,
however,
that interest
payable at Maturity will be payable to the person to whom the principal hereof
and premium, if any, hereon shall be payable.
“Business
Day,”
as
used herein,
means each Monday, Tuesday, Wednesday, Thursday and Friday that is neither
a
legal holiday nor a day on which banking institutions are generally authorized
or obligated by law or executive order to close in The City of New York or
any
other place or places where the principal of (and premium, if any) and interest
on the 7.75% Notes is payable and also, with respect to 7.75% Notes denominated
in a Specified Currency other than U.S. dollars, in the Principal Financial
Center (as defined below) of the country issuing the Specified
Currency.
Payment
of
principal, premium, if any, and interest in respect of this 7.75% Note due
at
Maturity to be made in U.S. dollars will be made in immediately available funds
upon presentation and surrender of this 7.75% Note (and, with respect to any
applicable repayment of this 7.75% Note, a duly completed election form as
contemplated on the reverse hereof) at the office of the Paying Agent in The
City of New York, or at such other places as may be designated by the Company;
provided that the 7.75% Note is presented to the Paying Agent in time for the
Paying Agent to make such payments in such funds in accordance with its normal
procedures. Unless otherwise specified above, if any payment at Maturity is
to
be made in a Specified Currency other than U.S. dollars as set forth below,
such
payment will be made by wire transfer of immediately available funds to an
account with a bank located in the Principal Financial Center of the country
issuing the Specified Currency or other jurisdiction acceptable to the Company
and the Paying Agent as shall have been designated by the Holder hereof at
least
five Business Days prior to Maturity, provided that such bank has appropriate
facilities therefor and that this 7.75% Note (and, if applicable, a duly
completed election form) is presented and surrendered at the aforementioned
office of the Paying Agent in time for the Paying Agent to make such payments
in
such funds in accordance with its normal procedures. (Such designation with
respect to a payment in other than U.S. dollars shall be made by filing the
appropriate information with the Paying Agent at the office of the Paying Agent
in The City of New York, and, unless revoked, any such designation made with
respect to this 7.75% Note by its registered Holder will remain in effect with
respect to any further payments with respect to this 7.75% Note payable to
its
Holder. If such a payment with respect to this 7.75% Note cannot be made by
wire
transfer because the required designation has not been received by the Paying
Agent on or before the requisite date or for any other reason, a notice will
be
mailed to the Holder of this 7.75% Note at its registered address requesting
a
designation pursuant to which such wire transfer can be made and, upon the
Paying Agent's receipt of such a designation, such payment will be made within
five Business Days of such receipt.) The Company will pay any administrative
costs imposed by banks in connection with making payments by wire transfer,
but
any tax, assessment or governmental charge imposed upon payments will be borne
by the Holder of this 7.75% Note.
If
this 7.75% Note
is denominated in and principal, premium, if any, and interest is payable in
U.S. dollars, principal (and premium, if any) and any interest will be payable
at the principal corporate trust office of the Trustee in The City of New York,
or at such other places as may be designated by the Company, provided that
the
Company, at its option, may pay interest other than interest due at Maturity
by
check mailed or delivered to the address of the person entitled thereto as
such
address appears in the Security Register, or by wire transfer of immediately
available funds to an account designated by such person if appropriate wire
transfer instructions have been received in writing by the Paying Agent not
less
than 10 calendar days prior to such Interest Payment Date. Any such wire
transfer instructions received by the Paying Agent shall remain in effect until
revoked by such Xxxxxx. Unless otherwise specified above, any interest on this
7.75% Note (other than interest at Maturity) that is payable in a Specified
Currency other than U.S. dollars will be paid by mailing a check or draft in
the
Specified Currency drawn on an account at a bank outside of the United
States.
If
any Interest
Payment Date, Redemption Date, Optional Repayment Date or Stated Maturity falls
on a day that is not a Business Day, the required payment of principal, premium,
if any, and/or interest need not be made on such day, but may be made on the
next succeeding Business Day with the same force and effect as if made on the
date such payment was due, and no interest shall accrue with respect to such
payment for the period from and after such Interest Payment Date, Redemption
Date, Optional Repayment Date or Stated Maturity, as the case may be, to the
date of such payment on the next succeeding Business Day.
“Principal
Financial Center”
means
the capital
city of the country issuing the Specified Currency in respect of which payment
on the 7.75% Notes is to be made, except that with respect to U.S. dollars,
Australian dollars, Deutsche marks, Dutch guilders, Italian lire, Swiss francs
and ECUs, the Principal Financial Center shall be The City of New York, Sydney,
Frankfurt, Amsterdam, Milan, Zurich and Luxembourg, respectively.
The
Company is
obligated to make payment of principal, premium, if any, and interest in respect
of this 7.75% Note in the Specified Currency (or, if the Specified Currency
is
not at the time of such payment legal tender for the payment of public and
private debts, in such other coin or currency of the country which issued the
Specified Currency as at the time of such payment is legal tender for the
payment of such debts). If the Specified Currency is other than U.S. dollars,
any such amounts so payable by the Company, at the option of the Company, may
be
converted by the Exchange Rate Agent specified above into U.S. dollars for
payment to the Holder of this 7.75% Note; provided,
however,
that, if
specified above under “Other Provisions,” the Holder of this 7.75% Note may
elect to receive such amounts in U.S. dollars or in the Specified Currency
pursuant to the provisions set forth below.
Payments
of
principal of, premium, if any, and interest on any 7.75% Note denominated in
a
Specified Currency other than U.S. dollars (a “Foreign
Currency
Note”)
will be made in
U.S. dollars if the registered Holder of such 7.75% Note on the relevant Regular
Record Date, or at Maturity, as the case may be, has transmitted a written
request for such payment in U.S. dollars to the Paying Agent at the office
of
the Paying Agent in The City of New York on or before such Regular Record Date,
or the date 15 days before Maturity, as the case may be. Such request may be
in
writing (mailed or hand delivered) or sent by cable, telex, or other form of
facsimile transmission. Any such request made for any 7.75% Note by a registered
Holder will remain in effect for any further payments of principal of, premium,
if any, and interest on such 7.75% Note payable to such Holder, unless such
request is revoked on or before the relevant Regular Record Date or the date
15
days before Maturity, as the case may be.
Any
U.S. dollar
amount to be received by a Holder of a Foreign Currency Note will be based
on
the highest bid quotation in The City of New York received by the Exchange
Rate
Agent at approximately 11:00 a.m. New York City time on the second Business
Day
preceding the applicable payment date from three recognized foreign exchange
dealers (one of whom may be the Exchange Rate Agent) selected by the Exchange
Rate Agent and approved by the Company for purchase by the quoting dealer of
the
Specified Currency for U.S. dollars for settlement on such payment date in
the
aggregate amount of the Specified Currency payable to all Holders of Foreign
Currency Notes scheduled to receive U.S. dollar payments and at which the
applicable dealer commits to execute a contract. All currency exchange costs
will be borne by the Holder of such Foreign Currency Note by deductions from
such payments. If three such bid quotations are not available on the second
Business Day prior to the applicable payment date, payments may be made in
the
Specified Currency.
A
Holder of a
Foreign Currency Note may elect to receive payment of the principal of and
premium, if any, and interest on such 7.75% Note in the Specified Currency
by
submitting a written request for such payment to the Trustee at its Corporate
Trust Office in The City of New York on or prior to the applicable Regular
Record Date or at least 15 calendar days prior to Maturity, as the case may
be.
Such written request may be may be in writing (mailed or hand delivered) or
sent
by cable, telex, or other form of facsimile transmission. A Holder of a Foreign
Currency Note may elect to receive payment in the applicable Specified Currency
for all such principal, premium, if any, and interest payments and need not
file
a separate election for each payment. Such election will remain in effect until
revoked by written notice to the Trustee, but written notice of any such
revocation must be received by the Trustee on or prior to the applicable Regular
Record Date or at least 15 calendar days prior to Maturity, as the case may
be.
If
the principal
of, and premium, if any, or interest on any 7.75% Note is payable in a Specified
Currency other than U.S. dollars and such Specified Currency is not available
to
the Company for making payments thereof due to the imposition of exchange
controls or other circumstances beyond the control of the Company, the Company
will be entitled to satisfy its obligations to the Holder of such 7.75% Note
by
making such payment (including any such payment at Maturity) in U.S. dollars
on
the basis of the methodology described in the second preceding
paragraph.
All
determinations
referred to above made by the Exchange Rate Agent shall be at its sole
discretion and shall, in the absence of manifest error, be conclusive for all
purposes and binding on the Holder of this 7.75% Note.
Reference
is hereby
made to the further provisions of this 7.75% Note set forth on the reverse
hereof and, if so specified above, in the Addendum hereto, which further
provisions shall have the same force and effect as if set forth on the face
hereof.
Unless
the
certificate of authentication hereon has been executed by the Trustee by manual
signature, this 7.75% Note shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.
(Signature
Page
Follows)
Exhibit
A-3
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-3
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
7.75% Senior Notes due 2032 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-3
[REVERSE
OF
7.75%
SENIOR
NOTE DUE 2032]
EL
PASO
CORPORATION
7.75%
Senior Note due 2032
(Fixed
Rate)
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 7.75% Senior Notes due 2032 of the Company (hereinafter called
the
“7.75%
Notes”),
issued under
the Original Indenture, which 7.75% Notes are limited in aggregate principal
amount to $150,000,000. All terms used but not defined in this 7.75% Note or
specified on the face hereof or in an Addendum hereto shall have the meanings
assigned to such terms in the Indenture.
This
7.75% Note is
issuable only in registered form without coupons. 7.75% Notes denominated in
U.S. dollars will be initially issued in denominations of $1,000 and integral
multiples thereof, and 7.75% Notes denominated in other than U.S. dollars will
be initially issued in denominations of the equivalent of $1,000 in the
Specified Currency (rounded down to an integral multiple of 1,000 units of
such
Specified Currency), at the noon buying rate for cable transfers in The City
of
New York of such Specified Currency (the “Exchange
Rate”)
on the Business
Day next preceding the date on which the Company accepts the offer to purchase
such 7.75% Note.
This
7.75% Note
will not be subject to any sinking fund and, unless otherwise provided on the
face hereof in accordance with the provisions of the following two paragraphs,
will be redeemable but not repayable prior to the Stated Maturity
Date.
The
Company has the
option, if specified on the face hereof, to reset the interest rate on the
date
or dates specified on the face hereof as Optional Reset Dates. If the Company
elects to reset the interest rate, the Holder will have the option to elect
repayment of this 7.75% Note by the Company on any Optional Reset Date at a
price equal to the aggregate principal amount thereof outstanding on, plus
any
interest accrued to, such Optional Reset Date (or, for an Original Issue
Discount Note, as specified below). In order for this 7.75% Note to be so repaid
on an Optional Reset Date, the Holder must follow the procedures specified
below
in connection with optional repayment, except that (i) the period for delivery
of such 7.75% Note or notification to the Trustee will be at least 25 but not
more than 35 days prior to such Optional Reset Date and (ii) a Holder who has
tendered a 7.75% Note for repayment pursuant to a Reset Notice (as defined
below) may, by written notice to the Trustee, revoke any such tender until
the
close of business on the tenth day prior to such Optional Reset
Date.
The
Company may
exercise the option to reset the interest rate on this 7.75% Note by notifying
the Trustee (the “Company’s
Notice
of Reset”)
of such exercise
at least 50 but not more than 60 days prior to an Optional Reset Date for such
7.75% Note. After receipt of the Company’s Notice of Reset, and not later than
40 days prior to such Optional Reset Date, the Trustee for this 7.75% Note
will
mail, first class, postage prepaid, or deliver to the Holder a notice (the
“Reset
Notice”).
Based on
information provided to the Trustee by the Company in the Company’s Notice of
Reset, the Reset Notice will indicate whether the Company has elected to reset
the interest rate and, if so, (i) such new interest rate and (ii) the
provisions, if any, for redemption during the period from such Optional Reset
Date to the next Optional Reset Date or, if there is no such next Optional
Reset
Date, to the Stated Maturity Date of this 7.75% Note (each such period, a
“Subsequent
Interest Period”),
including the
date or dates on which or the period or periods during which and the price
or
prices at which such redemption may occur during such Subsequent Interest
Period.
Notwithstanding
the
foregoing, the Company may, at its option, revoke the interest rate as provided
for in the Reset Notice, and establish a higher interest rate than the interest
rate provided for in the relevant Reset Notice for the Subsequent Interest
Period commencing on such Optional Reset Date, by notifying the Trustee of
such
revocation and such higher interest rate and causing the Trustee to mail or
deliver to the Holder, not later than 20 days prior to an Optional Reset Date
for this 7.75% Note (or, if such day is not a Business Day, on the immediately
succeeding Business Day), notice of such higher interest rate. Such notice
will
be irrevocable. The Company must notify the Trustee of its intention to revoke
such Reset Notice at least 25 days prior to such Optional Reset Date. If the
interest rate of this 7.75% Note is reset on an Optional Reset Date and the
Holder has not tendered this 7.75% Note for repayment (or has validly revoked
any such tender) in accordance with the applicable procedures this 7.75% Note
will bear such higher interest rate for the Subsequent Interest
Period.
As
specified on the
face hereof, this 7.75% Note will be subject to redemption at the option of
the
Company on any date on and after the Redemption Commencement Date specified
on
the face hereof, in whole or from time to time in part, at the Make-Whole Price
(as defined below), on notice given no more than 60 nor less than 30 calendar
days prior to the date of redemption (the “Redemption
Date”)
and in
accordance with the provisions of the Indenture. “Make-Whole
Price”
means
an amount
equal to the greater of (i) 100% of the principal amount of this 7.75% Note
to
be redeemed and (ii) as determined by an Independent Investment Banker, the
sum
of the present values of the remaining scheduled payments of principal and
interest thereon (not including any portion of such payments of interest accrued
as of the Redemption Date) discounted back to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months)
at the Treasury Rate (as defined below) plus 25 basis points, plus, in the
case
of both (i) and (ii), accrued and unpaid interest to the Redemption Date. Unless
the Company defaults in payment of the Make-Whole Price, on and after the
Redemption Date, interest will cease to accrue on the principal amount of this
7.75% Note to be redeemed. In the event of redemption of the 7.75% Note in
part
only, a new 7.75% Note of like tenor for the unredeemed portion hereof and
otherwise having the same terms as this 7.75% Note shall be issued in the name
of the Holder hereof upon the presentation and surrender hereof.
“Comparable
Treasury Issue”
means
the United
States Treasury security selected by an Independent Investment Banker as having
a maturity comparable to the remaining term of this 7.75% Note that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of this 7.75% Note.
“Comparable
Treasury Price”
means,
with
respect to any Redemption Date, (i) the average of five Reference Treasury
Dealer Quotations for such Redemption Date, after excluding the highest and
lowest of such Reference Treasury Dealer Quotations, or (ii) if the Trustee
obtains fewer than five such Reference Treasury Dealer Quotations, the average
of all such Reference Treasury Dealer Quotations.
“Independent
Investment Banker”
means
one of the
Reference Treasury Dealers appointed by the Trustee after consultation with
the
Company.
“Reference
Treasury Dealer”
means
(i) Banc of
America Securities LLC; ABN AMRO Incorporated; BNP Paribas Securities Corp.;
Credit Lyonnais Securities (USA) Inc. and X.X. Xxxxxx Securities Inc. and their
respective successors; provided,
however,
that if any of
the foregoing shall not be a primary U.S. government securities dealer in New
York City (a “Primary
Treasury
Dealer”),
the Company
shall substitute therefor another Primary Treasury Dealer; and (ii) any two
other Primary Treasury Dealers the Company selects.
“Reference
Treasury Dealer Quotations”
means,
with
respect to each Reference Treasury Dealer and any Redemption Date, the average,
as determined by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00
p.m.
on the third Business Day preceding such Redemption Date.
“Treasury
Rate”
means,
with
respect to any Redemption Date, (i) the yield, under the heading which
represents the average for the immediately preceding week, appearing in the
most
recently published statistical release designated “H.15(519)” or any successor
publication that is published weekly by the Board of Governors of the Federal
Reserve System and that establishes yields on actively traded United States
Treasury securities adjusted to constant maturity under the caption “Treasury
Constant Maturities,” for the maturity corresponding to the Comparable Treasury
Issue (if no maturity is within three months before or after the Stated
Maturity, yields for the two published maturities most closely corresponding
to
the Comparable Treasury Issue shall be determined, and the Treasury Rate shall
be interpolated or extrapolated from such yields on a straight-line basis,
rounding to the nearest month) or (ii) if such release (or any successor
release) is not published during the week preceding the calculation date or
does
not contain such yields, the rate per annum equal to the semi-annual equivalent
yield to maturity of the Comparable Treasury Issue, calculated using a price
for
the Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such Redemption Date. The
Treasury Rate shall be calculated on the third Business Day preceding the
Redemption Date.
Notwithstanding
Section 1104 of the Indenture, the notice of redemption with respect to the
foregoing redemption need not set forth the Make-Whole Price but only the manner
of calculation thereof. The Company shall notify the Trustee of the Make-Whole
Price with respect to the foregoing redemption promptly after the calculation
thereof, and the Trustee shall not be responsible for such
calculation.
If
specified on the
face hereof, this 7.75% Note (unless this 7.75% Note is an Original Issue
Discount Note) will be subject to repayment by the Company at the option of
the
Holder hereof on the Optional Repayment Date(s), if any, specified on the face
hereof, in whole or in part in increments of U.S. $1,000 (or 1,000 units of
the
Specified Currency), at the Optional Repayment Price stated on the face hereof,
which is a price equal to 100% of the unpaid principal amount to be repaid,
together with any accrued and unpaid interest and premium payable thereon to
the
specified Optional Repayment Date (each, a “Repayment
Date”).
For this 7.75%
Note to be repaid, the Company must receive at its offices or agencies for
that
purpose in The City of New York not more than 60 nor less than 30 calendar
days
prior to the Repayment Date, (i) the 7.75% Note with the form herein entitled
“Option to Elect Repayment” duly completed or (ii) a telegram, telex, facsimile
transmission or letter from a member of a national securities exchange or the
National Association of Securities Dealers, Inc. or a commercial bank or a
trust
company in the United States of America setting forth the name of the holder
of
the 7.75% Note, the principal amount of the 7.75% Note, the amount of the 7.75%
Note to be repaid, a statement that the option to elect repayment is being
exercised thereby and a guarantee that the 7.75% Note to be repaid with the
form
entitled “Option to Elect Repayment” herein duly completed will be received by
the Company not later than five Business Days after the date of such telegram,
telex, facsimile transmission or letter and such 7.75% Note and form duly
completed are received by the Company by such fifth Business Day. Exercise
of
such repayment option by the Holder hereof will be irrevocable. In the event
of
repayment of this 7.75% Note in part only, a new 7.75% Note of like tenor for
the unrepaid portion hereof and otherwise having the same terms as this 7.75%
Note shall be issued in the name of the Holder hereof upon the presentation
and
surrender hereof. All questions as to the validity, eligibility (including
time
of receipt) and acceptance of this 7.75% Note for repayment will be determined
by the Company, whose determination will be final and binding.
If
this 7.75% Note
is an Original Issue Discount Note as specified on the face hereof, the amount
payable to the Holder of this 7.75% Note in the event of redemption, repayment
or acceleration of Maturity will be equal to (i) the Amortized Face Amount
(as
defined below) as of the date of such event, plus (ii) with respect to any
redemption, the Initial Redemption Percentage specified on the face hereof
(as
adjusted by the Annual Redemption Percentage Reduction, if any, specified on
the
face hereof) minus 100% multiplied by the Issue Price specified on the face
hereof, net of any portion of such Issue Price which has been paid prior to
the
Redemption Date, or the portion of the Issue Price (or the net amount)
proportionate to the portion of the unpaid principal amount to be redeemed,
plus
(iii) any accrued interest to the date of such event, the payment of which
would
constitute qualified stated interest payments within the meaning of Treasury
Regulation 1.1273-1(c) under the Internal Revenue Code of 1986, as amended
(the
“Code”).
The accrued
interest described in clause (iii) above will be computed on the basis of a
360-day year of twelve 30-day months, compounded semiannually. The “Amortized
Face Amount” means an amount equal to (i) the Issue Price plus (ii) the
aggregate portions of the original issue discount (the excess of the amounts
considered as part of the “stated redemption price at maturity” of this 7.75%
Note within the meaning of Section 1273(a)(2) of the Code, whether denominated
as principal or interest, over the Issue Price) which shall theretofore have
accrued pursuant to Section 1272 of the Code (without regard to Section
1272(a)(7) of the Code) from the Original Issue Date to the date of
determination, minus (iii) any amount considered as part of the “stated
redemption price at maturity” of this 7.75% Note which has been paid from the
Original Issue Date to the date of determination.
If
the Maturity of
an Original Issue Discount Note that bears no interest falls on a day that
is
not a Business Day with respect to such Original Issue Discount Note, the
payment due at Maturity will be made on the following day that is a Business
Day
with the same force and effect as if it were made on the date such payment
was
due, and no interest shall accrue on the amount so payable for the period from
and after Maturity.
Unless
otherwise
stated on the face hereof, each 7.75% Note will mature at the Stated Maturity
Date of such 7.75% Note. If stated on the face hereof, the Company has the
option to extend the Stated Maturity Date of such 7.75% Note for one or more
periods of whole years from one to five (each an “Extension
Period”)
up to but not
beyond the date (the “Final
Maturity”)
set forth on the
face hereof.
The
Company may
exercise such option with respect to a 7.75% Note by notifying the Trustee
(the
“Company’s
Notice
of Extension”)
of such exercise
at least 50 but not more than 60 days prior to the old Stated Maturity Date
for
such 7.75% Note. After receipt of the Company’s Notice of Extension, and not
later than 40 days prior to the old Stated Maturity Date of such 7.75% Note,
the
Trustee for such 7.75% Note will mail, first class, postage prepaid, or deliver
to the Holder thereof a notice (the “Extension
Notice”).
Based on
information provided to the Trustee in the Company’s Notice of Extension, the
Extension Notice will set forth (i) the election of the Company to extend the
Stated Maturity Date of such 7.75% Note; (ii) the new Stated Maturity Date;
(iii) the interest rate applicable to the Extension Period; and (iv) the
provisions, if any, for redemption during the Extension Period, including the
date or dates on which or the period or periods during which and the price
or
prices at which such redemption may occur during the Extension Period. Upon
the
mailing or delivery by such Trustee of an Extension Notice to the Holder of
a
7.75% Note, the Stated Maturity Date of such 7.75% Note shall be extended
automatically, and, except as modified by the Extension Notice and as described
in the next paragraph, such 7.75% Note will have the same terms as prior to
the
mailing or delivering of such Extension Notice.
Notwithstanding
the
foregoing, not later than 20 days prior to the old Stated Maturity Date of
such
7.75% Note (or, if such day is not a Business Day, on the immediately succeeding
Business Day), the Company may, at its option, revoke the interest rate provided
for in the Extension Notice for such 7.75% Note and establish a higher interest
rate for the Extension Period, by notifying the Trustee of such revocation
and
such higher interest rate and causing the Trustee for such 7.75% Note to mail,
first class, postage prepaid, or deliver notice of such higher interest rate
to
the Holder of such 7.75% Note. Such notice will be irrevocable. All 7.75% Notes
with respect to which the Stated Maturity Date is extended will bear such higher
interest rate for the Extension Period, whether or not tendered for
repayment.
If
the Company
extends the Stated Maturity Date of this 7.75% Note, the Holder of this 7.75%
Note will have the option to elect repayment of such 7.75% Note by the Company
on the old Stated Maturity Date at a price equal to the aggregate principal
amount thereof outstanding on, plus interest accrued to, such date or, for
an
Original Issue Discount Note, as described above. In order for a 7.75% Note
to
be repaid on the old Stated Maturity Date once the Company has extended the
Stated Maturity Date thereof, the Holder thereof must follow the procedures
applicable to optional repayment set forth above, except that (i) the period
for
delivery of this 7.75% Note or notification to the Trustee for this 7.75% Note
will be at least 25 but not more than 35 days prior to the old Stated Maturity
Date and (ii) a Holder who has tendered a 7.75% Note for repayment pursuant
to
an Extension Notice may, by written notice to the Trustee, revoke any such
tender for repayment until the close of business on the tenth day before the
old
Stated Maturity Date.
If
an Event of
Default, as defined in the Indenture, shall occur and be continuing, the
principal of the 7.75% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture. The Indenture contains provisions
setting forth certain conditions to the institution of proceedings by Holders
of
7.75% Notes with respect to the Indenture or for any remedy under the
Indenture.
The
Indenture
contains provisions for discharge of the 7.75% Notes and for defeasance of
(i)
the entire indebtedness of the 7.75% Notes or (ii) certain covenants and Events
of Default with respect to the 7.75% Notes, in each case upon compliance with
certain conditions set forth therein, which provisions apply to the 7.75%
Notes.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of a series of Securities at any time by the Company and the Trustee
with the consent of the Holders of not less than a majority of the aggregate
principal amount of all series of Securities (acting as one class) at the time
outstanding and affected thereby. The Indenture also contains provisions
permitting the Holders of not less than a majority of the aggregate principal
amount of the outstanding Securities of all affected series, on behalf of the
Holders of all Securities of such series, to waive compliance by the Company
with certain restrictive provisions of the Indenture. Furthermore, provisions
in
the Indenture permit the Holders of not less than a majority of the aggregate
principal amount of any series, in certain instances, to waive, on behalf of
all
of the Holders of Securities of such series, certain past defaults under the
Indenture and their consequences. Any such consent or waiver by the Holder
of
this 7.75% Note shall be conclusive and binding upon such Holder and upon all
future Holders of this 7.75% Note and other 7.75% Notes issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon the 7.75%
Note.
No
reference herein
to the Indenture and no provision of this 7.75% Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and
unconditional, to pay principal, premium, if any, and interest in respect of
this 7.75% Note at the times, places and rate or formula, and in the coin or
currency, herein prescribed.
As
provided in the
Indenture and subject to certain limitations therein and herein set forth,
the
transfer of this 7.75% Note is registrable in the Security Register of the
Company upon surrender of this 7.75% Note for registration of transfer at the
office or agency of the Company in any place where this 7.75% Note is payable,
duly endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Company and the Security Registrar duly executed by, the
Holder hereof or by his attorney duly authorized in writing, and thereupon
one
or more new 7.75% Notes, of authorized denominations and for the same aggregate
principal amount and having the same terms and conditions, will be issued to
the
designated transferee or transferees. As provided in the Indenture and subject
to certain limitations therein and herein set forth, this 7.75% Note is
exchangeable for a like aggregate principal amount of 7.75% Notes of different
authorized denominations but otherwise having the same terms and conditions,
as
requested by the Holder hereof surrendering the same. No service charge shall
be
made for any such registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith.
The
Indenture
provides that no recourse may be taken, directly or indirectly, against any
incorporator, subscriber to the capital stock, stockholder, officer, director
or
employee of the Company or of any predecessor or successor of the Company with
respect to the Company's obligations on the 7.75% Notes or the obligations
of
the Company under the Indenture. Each Holder by accepting a 7.75% Note waives
all such recourse.
Prior
to due
presentment of this 7.75% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 7.75% Note is registered as the owner thereof for all purposes,
whether or not this 7.75% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
THIS
7.75% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
[If
a
Transfer Restricted Security, insert—The
Holder of this
7.75% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-3
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-3
EXCHANGE/TRANSFER
CERTIFICATE
Re: 7.75%
Senior Notes
due 2032 of El Paso Corporation (the “7.75%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 7.75% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 7.75% Note or 7.75% Notes.
In
connection with
such request and in respect of each such 7.75% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 7.75% Notes and that the transfer of this 7.75% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
7.75% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
7.75% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 7.75%
Note).
□ Such
7.75% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
7.75% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-3
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 7.75% Senior Notes
due
2032 (the “7.75%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i) the
offer of the
7.75% Notes was not made to a person in the United States of
America;
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-3
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-3
EXHIBIT
A-4
[FORM
OF
FACE OF 7.42% SENIOR NOTE DUE 2037]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
7.42%
Senior Note due 2037
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on February 15, 2037 in such coin or currency of the
United States of America as at the time of payment shall be legal tender for
the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each February 15 and August 15 of each year (each such date,
an
“Interest
Payment
Date”),
commencing on
February 15, 2006, at the rate of 7.42% per annum from, and including, August
15, 2005 (or from and including the next most recent date to which interest
has
been paid or duly provided for) to, but excluding, the date on which the
principal hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 7.42% Senior Notes due 2037 (hereinafter called
the “7.42%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 7.42% Note is a 7.42% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 7.42% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 7.42% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 7.42% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-4
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-4
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
7.42% Senior Notes due 2037 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-4
[REVERSE
OF
7.42%
SENIOR
NOTE DUE 2037]
EL
PASO
CORPORATION
7.42%
Senior Note due 2037
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 7.42% Senior Notes due 2037 of the Company (hereinafter called
the
“7.42%
Notes”),
issued under
the Original Indenture, which 7.42% Notes are limited in aggregate principal
amount to $200,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 7.42% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 7.42%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on February 15, 2037. The 7.42% Notes rank on parity
with all other unsecured, unsubordinated indebtedness of the
Company.
The
7.42% Notes
will bear interest as set forth on the face hereof.
The
7.42% Notes are
not redeemable prior to their Stated Maturity.
The
7.42% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 7.42% Notes shall occur and be continuing, the
principal of the 7.42% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 7.42% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
7.42% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 7.42% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 7.42% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 7.42% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 7.42% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 7.42% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 7.42% Note is registrable in the Security Register, upon surrender of
this
7.42% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
7.42% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 7.42% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 7.42% Note is registered as the owner hereof for all purposes,
whether or not this 7.42% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
7.42% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 7.42% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
7.42% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-4
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-4
EXCHANGE/TRANSFER
CERTIFICATE
Re: 7.42%
Senior Notes
due 2037 of El Paso Corporation (the “7.42%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 7.42% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 7.42% Note or 7.42% Notes.
In
connection with
such request and in respect of each such 7.42% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 7.42% Notes and that the transfer of this 7.42% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
7.42% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
7.42% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption
from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if
the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 7.42%
Note).
□ Such
7.42% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
7.42% Note is
being transferred in reliance on and in compliance with another exemption
from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-4
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 7.42% Senior Notes
due
2037 (the “7.42%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i) the
offer of the
7.42% Notes was not made to a person in the United States of
America;
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-4
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-4
EXHIBIT
A-5
[FORM
OF
FACE OF 6.95% SENIOR NOTE DUE 2028]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
6.95%
Senior Note due 2028
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on June 1, 2028 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each June 1 and December 1 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
June 1, 2006, at the rate of 6.95% per annum from, and including, December
1,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 6.95% Senior Notes due 2028 (hereinafter called
the “6.95%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 6.95% Note is a 6.95% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 6.95% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 6.95% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 6.95% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-5
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-5
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
6.95% Senior Notes due 2028 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-5
[REVERSE
OF
6.95%
SENIOR
NOTE DUE 2028]
EL
PASO
CORPORATION
6.95%
Senior Note due 2028
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 6.95% Senior Notes due 2028 of the Company (hereinafter called
the
“6.95%
Notes”),
issued under
the Original Indenture, which 6.95% Notes are limited in aggregate principal
amount to $200,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 6.95% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 6.95%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on June 1, 2028. The 6.95% Notes rank on parity with
all
other unsecured, unsubordinated indebtedness of the Company.
The
6.95% Notes
will bear interest as set forth on the face hereof.
The
6.95% Notes are
not redeemable prior to their Stated Maturity.
The
6.95% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 6.95% Notes shall occur and be continuing, the
principal of the 6.95% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 6.95% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
6.95% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 6.95% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 6.95% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 6.95% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 6.95% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 6.95% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 6.95% Note is registrable in the Security Register, upon surrender of
this
6.95% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
6.95% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 6.95% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 6.95% Note is registered as the owner hereof for all purposes,
whether or not this 6.95% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
6.95% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 6.95% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
6.95% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-5
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-5
EXCHANGE/TRANSFER
CERTIFICATE
Re: 6.95%
Senior Notes
due 2028 of El Paso Corporation (the “6.95%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 6.95% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 6.95% Note or 6.95% Notes.
In
connection with
such request and in respect of each such 6.95% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 6.95% Notes and that the transfer of this 6.95% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
6.95% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
6.95% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 6.95%
Note).
□ Such
6.95% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
6.95% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-5
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 6.95% Senior Notes
due
2028 (the “6.95%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 6.95% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-5
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-5
EXHIBIT
A-6
[FORM
OF
FACE OF 6.375% SENIOR NOTE DUE 2009]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
6.375%
Senior Note due 2009
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on February 1, 2009 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each February 1 and August 1 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
February 1, 2006, at the rate of 6.375% per annum from, and including, August
1,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 6.375% Senior Notes due 2009 (hereinafter
called the “6.375%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 6.375% Note is a 6.375% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 6.375% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 6.375% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 6.375% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-6
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-6
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
6.375% Senior Notes due 2009 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-6
[REVERSE
OF
6.375%
SENIOR
NOTE DUE 2009]
EL
PASO
CORPORATION
6.375%
Senior Note due 2009
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 6.375% Senior Notes due 2009 of the Company (hereinafter called
the “6.375%
Notes”),
issued under
the Original Indenture, which 6.375% Notes are limited in aggregate principal
amount to $200,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 6.375% Notes limit or otherwise restrict the amount of indebtedness which
may be incurred or other securities which may be issued by the Company. The
6.375% Notes issued under the Indenture are direct, unsecured obligations of
the
Company and will mature on February 1, 2009. The 6.375% Notes rank on parity
with all other unsecured, unsubordinated indebtedness of the
Company.
The
6.375% Notes
will bear interest as set forth on the face hereof.
The
6.375% Notes
are not redeemable prior to their Stated Maturity.
The
6.375% Notes
are not entitled to any sinking fund.
If
an Event of
Default with respect to the 6.375% Notes shall occur and be continuing, the
principal of the 6.375% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 6.375% Note
shall
be conclusive and binding upon such Holder and upon all future Holders of this
6.375% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 6.375% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 6.375% Note
shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 6.375% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 6.375% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 6.375% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 6.375% Note is registrable in the Security Register, upon surrender of
this
6.375% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
6.375% Notes
are issuable only in registered forms without coupons, in minimum denominations
of $1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 6.375% Note for registration of transfer, the Company,
the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 6.375% Note is registered as the owner hereof for all purposes,
whether or not this 6.375% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
6.375% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 6.375% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
6.375% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-6
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-6
EXCHANGE/TRANSFER
CERTIFICATE
Re: 6.375%
Senior Notes
due 2009 of El Paso Corporation (the “6.375%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 6.375% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 6.375% Note or 6.375% Notes.
In
connection with
such request and in respect of each such 6.375% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 6.375% Notes and that the transfer of this 6.375% Note does
not
require registration under the Securities Act (as defined below)
because:**
□ Such
6.375% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
6.375% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 6.375%
Note).
□ Such
6.375% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
6.375% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-6
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 6.375% Senior Notes
due 2009 (the “6.375%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 6.375% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-6
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-6
EXHIBIT
A-7
[FORM
OF
FACE OF 7.75% SENIOR NOTE DUE 2010]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
7.75%
Senior Note due 2010
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on June 15, 2010 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each June 15 and December 15 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
June 15, 2006, at the rate of 7.75% per annum from, and including, December
15,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 7.75% Senior Notes due 2010 (hereinafter called
the “7.75%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 7.75% Note is a 7.75% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 7.75% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 7.75% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 7.75% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-7
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-7
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
7.75% Senior Notes due 2010 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-7
[REVERSE
OF
7.75%
SENIOR
NOTE DUE 2010]
EL
PASO
CORPORATION
7.75%
Senior Note due 2010
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 7.75% Senior Notes due 2010 of the Company (hereinafter called
the
“7.75%
Notes”),
issued under
the Original Indenture, which 7.75% Notes are limited in aggregate principal
amount to $400,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 7.75% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 7.75%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on June 15, 2010. The 7.75% Notes rank on parity with
all other unsecured, unsubordinated indebtedness of the Company.
The
7.75% Notes
will bear interest as set forth on the face hereof.
The
7.75% Notes are
not redeemable prior to their Stated Maturity.
The
7.75% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 7.75% Notes shall occur and be continuing, the
principal of the 7.75% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 7.75% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
7.75% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 7.75% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 7.75% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 7.75% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 7.75% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 7.75% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 7.75% Note is registrable in the Security Register, upon surrender of
this
7.75% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
7.75% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 7.75% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 7.75% Note is registered as the owner hereof for all purposes,
whether or not this 7.75% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
7.75% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 7.75% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
7.75% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-7
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-7
EXCHANGE/TRANSFER
CERTIFICATE
Re: 7.75%
Senior Notes
due 2010 of El Paso Corporation (the “7.75%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 7.75% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 7.75% Note or 7.75% Notes.
In
connection with
such request and in respect of each such 7.75% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 7.75% Notes and that the transfer of this 7.75% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
7.75% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
7.75% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 7.75%
Note).
□ Such
7.75% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
7.75% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-7,
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 7.75% Senior Notes
due
2010 (the “7.75%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 7.75% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-7
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-7
EXHIBIT
A-8
[FORM
OF
FACE OF 6.50% SENIOR NOTE DUE 2008]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
6.50%
Senior Note due 2008
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on June 1, 2008 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each June 1 and December 1 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
June 1, 2006, at the rate of 6.50% per annum from, and including, December
1,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 6.05% Senior Notes due 2008 (hereinafter called
the “6.50%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 6.50% Note is a 6.50% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 6.50% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 6.50% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 6.50% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-8
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-8
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
6.50% Senior Notes due 2008 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-8
[REVERSE
OF
6.50%
SENIOR
NOTE DUE 2008]
EL
PASO
CORPORATION
6.50%
Senior Note due 2008
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 6.50% Senior Notes due 2008 of the Company (hereinafter called
the
“6.50%
Notes”),
issued under
the Original Indenture, which 6.50% Notes are limited in aggregate principal
amount to $200,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 6.50% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 6.50%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on June 1, 2008. The 6.50% Notes rank on parity with
all
other unsecured, unsubordinated indebtedness of the Company.
The
6.50% Notes
will bear interest as set forth on the face hereof.
The
6.50% Notes are
not redeemable prior to their Stated Maturity.
The
6.50% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 6.50% Notes shall occur and be continuing, the
principal of the 6.50% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 6.50% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
6.50% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 6.50% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 6.50% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 6.50% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 6.50% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 6.50% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 6.50% Note is registrable in the Security Register, upon surrender of
this
6.50% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
6.50% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 6.50% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 6.50% Note is registered as the owner hereof for all purposes,
whether or not this 6.50% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
6.50% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 6.50% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
6.50% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-8
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-8
EXCHANGE/TRANSFER
CERTIFICATE
Re: 6.50%
Senior Notes
due 2008 of El Paso Corporation (the “6.50%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 6.50% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 6.50% Note or 6.50% Notes.
In
connection with
such request and in respect of each such 6.50% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 6.50% Notes and that the transfer of this 6.50% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
6.50% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
6.50% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 6.50%
Note).
□ Such
6.50% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
6.50% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-8
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 6.50% Senior Notes
due
2008 (the “6.50%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 6.50% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-8
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-8
EXHIBIT
A-9
[FORM
OF
FACE OF 7.625% SENIOR NOTE DUE 2008]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
7.625%
Senior Note due 2008
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on September 1, 2008 in such coin or currency of the
United States of America as at the time of payment shall be legal tender for
the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each March 1 and September 1 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
March 1, 2006, at the rate of 7.625% per annum from, and including, September
1,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 7.625% Senior Notes due 2008 (hereinafter
called the “7.625%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 7.625% Note is a 7.625% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 7.625% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 7.625% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 7.625% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-9
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-9
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
7.625% Senior Notes due 2008 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-9
[REVERSE
OF
7.625%
SENIOR
NOTE DUE 2008]
EL
PASO
CORPORATION
7.625%
Senior Note due 2008
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 7.625% Senior Notes due 2008 of the Company (hereinafter called
the “7.625%
Notes”),
issued under
the Original Indenture, which 7.625% Notes are limited in aggregate principal
amount to $215,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 7.625% Notes limit or otherwise restrict the amount of indebtedness which
may be incurred or other securities which may be issued by the Company. The
7.625% Notes issued under the Indenture are direct, unsecured obligations of
the
Company and will mature on September 1, 2008. The 7.625% Notes rank on parity
with all other unsecured, unsubordinated indebtedness of the
Company.
The
7.625% Notes
will bear interest as set forth on the face hereof.
The
7.625% Notes
are not redeemable prior to their Stated Maturity.
The
7.625% Notes
are not entitled to any sinking fund.
If
an Event of
Default with respect to the 7.625% Notes shall occur and be continuing, the
principal of the 7.625% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 7.625% Note
shall
be conclusive and binding upon such Holder and upon all future Holders of this
7.625% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 7.625% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 7.625% Note
shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 7.625% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 7.625% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 7.625% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 7.625% Note is registrable in the Security Register, upon surrender of
this
7.625% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
7.625% Notes
are issuable only in registered forms without coupons, in minimum denominations
of $1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 7.625% Note for registration of transfer, the Company,
the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 7.625% Note is registered as the owner hereof for all purposes,
whether or not this 7.625% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
7.625% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 7.625% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
7.625% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-9
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-9
EXCHANGE/TRANSFER
CERTIFICATE
Re: 7.625%
Senior Notes
due 2008 of El Paso Corporation (the “7.625%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 7.625% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 7.625% Note or 7.625% Notes.
In
connection with
such request and in respect of each such 7.625% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 7.625% Notes and that the transfer of this 7.625% Note does
not
require registration under the Securities Act (as defined below)
because:**
□ Such
7.625% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
7.625% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 7.625%
Note).
□ Such
7.625% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
7.625% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-9
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 7.625% Senior Notes
due 2008 (the “7.625%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 7.625% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-9
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-9
EXHIBIT
A-10
[FORM
OF
FACE OF 6.50% SENIOR NOTE DUE 2006]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
6.50%
Senior Note due 2006
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on May 15, 2006 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each May 15 and November 15 of each year (each such date, an
“Interest
Payment
Date”),
commencing on
May 15, 2006, at the rate of 6.50% per annum from, and including, November
15,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 6.50% Senior Notes due 2006 (hereinafter called
the “6.50%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 6.50% Note is a 6.50% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 6.50% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 6.50% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 6.50% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-10
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-10
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
6.50% Senior Notes due 2006 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-10
[REVERSE
OF
6.50%
SENIOR
NOTE DUE 2006]
EL
PASO
CORPORATION
6.50%
Senior Note due 2006
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 6.50% Senior Notes due 2006 of the Company (hereinafter called
the
“6.50%
Notes”),
issued under
the Original Indenture, which 6.50% Notes are limited in aggregate principal
amount to $109,500,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 6.50% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 6.50%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on May 15, 2006. The 6.50% Notes rank on parity with
all
other unsecured, unsubordinated indebtedness of the Company.
The
6.50% Notes
will bear interest as set forth on the face hereof.
The
6.50% Notes are
not redeemable prior to their Stated Maturity.
The
6.50% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 6.50% Notes shall occur and be continuing, the
principal of the 6.50% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 6.50% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
6.50% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 6.50% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 6.50% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 6.50% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 6.50% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 6.50% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 6.50% Note is registrable in the Security Register, upon surrender of
this
6.50% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
6.50% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 6.50% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 6.50% Note is registered as the owner hereof for all purposes,
whether or not this 6.50% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
6.50% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 6.50% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
6.50% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-10
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-10
EXCHANGE/TRANSFER
CERTIFICATE
Re: 6.50%
Senior Notes
due 2006 of El Paso Corporation (the “6.50%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 6.50% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 6.50% Note or 6.50% Notes.
In
connection with
such request and in respect of each such 6.50% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 6.50% Notes and that the transfer of this 6.50% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
6.50% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
6.50% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 6.50%
Note).
□ Such
6.50% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
6.50% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-10
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 6.50% Senior Notes
due
2006 (the “6.50%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 6.50% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-10
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-10
EXHIBIT
A-11
[FORM
OF
FACE OF 6.70% SENIOR NOTE DUE 2027]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
6.70%
Senior Note due 2027
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on February 15, 2027 in such coin or currency of the
United States of America as at the time of payment shall be legal tender for
the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each February 15 and August 15 of each year (each such date,
an
“Interest
Payment
Date”),
commencing on
February 15, 2006, at the rate of 6.70% per annum from, and including, August
15, 2005 (or from and including the next most recent date to which interest
has
been paid or duly provided for) to, but excluding, the date on which the
principal hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 6.70% Senior Notes due 2027 (hereinafter called
the “6.70%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 6.70% Note is a 6.70% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 6.70% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 6.70% Note set forth herein, which
further provisions shall for all purposes have the same effect as if set forth
at this place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 6.70% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-11
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-11
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
6.70% Senior Notes due 2027 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-11
[REVERSE
OF
6.70%
SENIOR
NOTE DUE 2027]
EL
PASO
CORPORATION
6.70%
Senior Note due 2027
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 6.70% Senior Notes due 2027 of the Company (hereinafter called
the
“6.70%
Notes”),
issued under
the Original Indenture, which 6.70% Notes are limited in aggregate principal
amount to $200,000,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 6.70% Notes limit or otherwise restrict the amount of indebtedness which
may
be incurred or other securities which may be issued by the Company. The 6.70%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on February 15, 2027. The 6.70% Notes rank on parity
with all other unsecured, unsubordinated indebtedness of the
Company.
The
6.70% Notes
will bear interest as set forth on the face hereof.
The
6.70% Notes are
not redeemable at the Company’s option prior to their Stated Maturity. On
February 15, 2007, or if such date is not a Business Day, then the next
succeeding Business Day (the “Redemption
Date”),
each Holder of
6.70% Notes will have the right (the “Redemption
Right”)
to require the
Company to redeem all or any part (equal to $1,000 in principal amount or an
integral multiple thereof) of such Holder’s 6.70% Notes, in accordance with the
provisions set forth herein, for cash at a purchase price equal to 100% of
the
aggregate principal amount thereof (the “Redemption
Price”),
plus accrued
and unpaid interest, if any, thereon to the Redemption Date.
On
or prior to
November 30, 2006, the Company shall send, by first class mail, postage prepaid,
a notice of the Redemption Right to each Holder of 6.70% Notes at its address
appearing in the Security Register, with a copy to the Trustee,
stating:
(a)
|
that
such
Holder has the Redemption Right;
|
(b)
|
the
Redemption Date;
|
(c)
|
the
Redemption Price (including the amount of any accrued and unpaid
interest);
|
(d)
|
that
any
6.70% Note not submitted for redemption will continue to accrue
interest;
|
(e)
|
that
on the
Redemption Date the Redemption Price shall become due and payable
upon
each 6.70% Note submitted for redemption pursuant to the Redemption
Right
and that, unless the Company defaults in paying the Redemption Price
therefor, any 6.70% Note submitted for redemption pursuant to the
Redemption Right shall cease to accrue interest after the Redemption
Date;
|
(f)
|
that
any
Holder electing to have a 6.70% Note redeemed pursuant to the Redemption
Right will be required to surrender the 6.70% Note, or transfer the
6.70%
Note by book-entry, with the form entitled “Option of Holder to Elect
Redemption on February 15, 2007” on the reverse side of such 6.70% Note,
duly completed, to the Trustee during the period from December 15,
2006
and prior to 5:00 p.m. (New York City time) on January 15, 2007 (or
if
such date is not a Business Day, then the next succeeding Business
Day) at
the address specified in such
notice;
|
(g)
|
that
any
election on the part of a Holder to exercise the Redemption Right
effected
in accordance herewith shall be irrevocable on the part of the Holder
and
may not be withdrawn; and
|
(h)
|
that
Holders
whose 6.70% Notes are being redeemed only in part will be issued
a new
6.70% Note or 6.70% Notes equal in principal amount to the unredeemed
portion of the 6.70% Notes surrendered (which unredeemed portion
must be
equal to $1,000 in principal amount or an integral multiple
thereof).
|
On
or prior to the
Redemption Date, the Company shall deposit with the Trustee or with the Paying
Agent (or, if the Company is acting as its own Paying Agent, segregate and
hold
in trust as provided in Section 1003 of the Indenture) an amount of cash
sufficient to pay the Redemption Price of, and (except if the Redemption Date
shall be an Interest Payment Date) any accrued and unpaid interest on, all
6.70%
Notes or portions thereof which are to be redeemed on that date.
The
6.70% Notes to
be redeemed shall, on the Redemption Date, become due and payable at the
Redemption Price thereof and from and after such date (unless the Company shall
default in the payment of the Redemption Price) such 6.70% Notes shall cease
to
bear interest. Upon submission of any 6.70% Note for redemption in accordance
with the provisions hereof, such 6.70% Note shall be paid by the Company at
the
Redemption Price, plus accrued and unpaid interest, if any, to the Redemption
Date; provided,
however,
that installments
of interest whose Stated Maturity is on or prior to the Redemption Date shall
be
payable to the Holders of such 6.70% Notes registered as such on the relevant
Record Date according to the terms and provisions hereof and Section 307 of
the
Indenture.
If
any 6.70% Note
is to be redeemed in part, the Company shall execute and the Trustee, upon
Company Order, shall authenticate and deliver to the Holder of such 6.70% Note,
without service charge, a new 6.70% Note or 6.70% Notes equal in principal
amount to the unredeemed portion of the 6.70% Note surrendered (which unredeemed
portion must be equal to $1,000 in principal amount or an integral multiple
thereof).
The
Company shall
comply with the requirements of Rule 14e-1 under the Securities Exchange Act
of
1934, as amended, and any other securities laws and regulations thereunder
to
the extent such laws and regulations are applicable to the redemption of the
6.70% Notes pursuant to the Redemption Right. To the extent that the provisions
of any such rule conflict with the provisions hereof relating to the Redemption
Right, the Company shall comply with the provisions of such rule and be deemed
not to have breached its obligations relating to the Redemption Right by virtue
thereof.
All
questions
regarding the validity, form, eligibility (including time of receipt) and
acceptance of any 6.70% Notes for redemption will be determined by the Company,
and its determination will be final and binding.
The
6.70% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 6.70% Notes shall occur and be continuing, the
principal of the 6.70% Notes may be declared due and payable in the manner
and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 6.70% Note shall
be conclusive and binding upon such Holder and upon all future Holders of this
6.70% Note and of any Security issued upon the registration of transfer hereof
or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this 6.70% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 6.70% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 6.70% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 6.70% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 6.70% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 6.70% Note is registrable in the Security Register, upon surrender of
this
6.70% Note for registration of transfer at the office or agency of the Company
in the Borough of Manhattan, The City of New York, or at such other offices
or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
6.70% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 6.70% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 6.70% Note is registered as the owner hereof for all purposes,
whether or not this 6.70% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
6.70% NOTE
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF
NEW YORK.
Except
as otherwise
expressly provided herein, all terms used in this 6.70% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
6.70% Note is entitled to the benefits of the Registration Rights Agreement,
dated as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-11
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-11
EXCHANGE/TRANSFER
CERTIFICATE
Re: 6.70%
Senior Notes
due 2027 of El Paso Corporation (the “6.70%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 6.70% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 6.70% Note or 6.70% Notes.
In
connection with
such request and in respect of each such 6.70% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 6.70% Notes and that the transfer of this 6.70% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
6.70% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
6.70% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 6.70%
Note).
□ Such
6.70% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
6.70% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-11
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 6.70% Senior Notes
due
2027 (the “6.70%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 6.70% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-11
OPTION
OF
HOLDER TO ELECT REDEMPTION ON FEBRUARY 15, 2007
If
you elect to
have this 6.70% Note redeemed by the Company on February 15, 2007, check the
following box: □
If
you elect to
have only part of this 6.70% Note redeemed by the Company on February 15, 2007,
state the amount that you wish to have redeemed (multiples of $1,000
only):
$_____________________
Dated:_________________ Signed:______________________________________________
(Sign
exactly as
name appears on the other side of this 6.70% Note)
Signature
Guarantee:________________________________________________________________________
Exhibit
A-11
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|
Exhibit
A-11
EXHIBIT
A-12
[FORM
OF
FACE OF 7½% SENIOR NOTE DUE 2006]
[If
a
Global Security, insert—THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF
THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A
DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR
REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON
OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE
REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.
EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF,
OR
IN EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT
TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.]
[If
a
Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION, TO
THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND
ANY
SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY),
ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.]
[If
a
Transfer Restricted Security, insert—THIS SECURITY HAS NOT BEEN REGISTERED UNDER
THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHIN
THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT
AS SET FORTH IN THE FOLLOWING SENTENCE. BY ITS ACQUISITION HEREOF OR OF A
BENEFICIAL INTEREST HEREIN, THE HOLDER:
(1) REPRESENTS
THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) (A “QIB”) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING
THIS SECURITY FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON AND IS ACQUIRING
THIS
SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE
SECURITIES ACT,
(2) AGREES
THAT
IT WILL NOT, WITHIN THE TIME PERIOD REFERRED TO UNDER RULE 144(k) (TAKING INTO
ACCOUNT THE PROVISIONS OF RULE 144(d) UNDER THE SECURITIES ACT, IF APPLICABLE)
UNDER THE SECURITIES ACT AS IN EFFECT ON THE DATE OF THE TRANSFER OF THIS
SECURITY, RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER
OR
ANY SUBSIDIARY THEREOF, (B) TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES
IS A
QIB PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN COMPLIANCE
WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN
OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT,
(D)
PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (E) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND, IN EACH CASE, IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS, AND
(3) AGREES
THAT
IT WILL DELIVER TO EACH PERSON TO WHOM THIS SECURITY OR AN INTEREST HEREIN
IS
TRANSFERRED (OTHER THAN A TRANSFER PURSUANT TO CLAUSE (2)(D) OR (2)(E) ABOVE)
A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND.
IN
CONNECTION WITH ANY TRANSFER OF THIS SECURITY OR ANY INTEREST HEREIN WITHIN
THE
TIME PERIOD REFERRED TO ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET
FORTH ON THE REVERSE HEREOF RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT
THIS CERTIFICATE TO THE TRUSTEE. AS USED HEREIN, THE TERMS “OFFSHORE
TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT.]
CUSIP
No. ___________
|
|
ISIN
No. ___________
|
|
No.: ___________
|
$_____________
|
EL
PASO
CORPORATION
7½%
Senior
Note due 2006
El
Paso
Corporation, a corporation duly organized and existing under the laws of
Delaware (the “Company,”
which
term
includes any successor corporation under the Indenture hereinafter referred
to),
for value received, hereby promises to pay to
[_________________________________] [if
a Global
Security, insert - Cede
&
Co.,
as
nominee for The Depository Trust Company] or its registered assigns, the
principal sum of _______________________ United States Dollars [if
a Global
Security, insert - ,
or such other
principal amount as shall be set forth in the Schedule of Increases or Decreases
attached hereto,] at the office of the Company designated for such purpose
in
The City of New York, on August 15, 2006 in such coin or currency of the United
States of America as at the time of payment shall be legal tender for the
payment of public and private debts, and to pay interest thereon semi-annually
in arrears on each February 15 and August 15 of each year (each such date,
an
“Interest
Payment
Date”),
commencing on
February 15, 2006, at the rate of 7½% per annum from, and including, August 15,
2005 (or from and including the next most recent date to which interest has
been
paid or duly provided for) to, but excluding, the date on which the principal
hereof has been paid or made available for payment.
The
amount of
interest so payable for any period shall be computed on the basis of a 360-day
year of twelve 30-day months. In the event that any Interest Payment Date is
not
a Business Day, then payment of the interest or principal payable on such date
will be made on the next succeeding day which is a Business Day and no interest
shall accrue in respect of the amounts which payment is so delayed for the
period from and after such Interest Payment Date, except that, if such Business
Day is in the next succeeding calendar year, such payment shall be made on
the
immediately preceding Business Day, in each case with the same force and effect
as if made on such date.
Payments
of the
principal of and interest on the 7½% Senior Notes due 2006 (hereinafter called
the “7½%
Notes”)
shall be made at
the office of the Company designated for such purpose in The City of New York;
provided that, unless this 7½% Note is a 7½% Note issued in global form
(“Global
Security”),
interest may be
paid, at the option of the Company, (i) by check mailed to the address of the
Person entitled thereto as such address shall appear in the Security Register
or
(ii) by wire transfer at such place and to such account at a banking institution
in the United States as may be designated in writing to the Trustee at least
five Business Days prior to the date for payment by the Person entitled thereto.
The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date, as provided in the Indenture, as hereinafter defined,
shall be paid to the Person in whose name this 7½% Note (or one or more
Predecessor Securities) shall have been registered at the close of business
on
the Regular Record Date with respect to such Interest Payment Date, provided
that interest payable on the Stated Maturity shall be paid to the Person to
whom
principal is paid. Any such interest not so punctually paid or duly provided
for
shall forthwith cease to be payable to the Holder on such Regular Record Date
and shall be paid as provided in said Indenture.
Reference
is hereby
made to the further provisions of this 7½% Note set forth herein, which further
provisions shall for all purposes have the same effect as if set forth at this
place.
Unless
the
certificate of authentication hereon has been executed by the Trustee referred
to herein by manual signature, this 7½% Note shall not be entitled to any
benefit under the Indenture or be valid or obligatory for any
purpose.
(Signature
Page
Follows)
Exhibit
A-12
IN
WITNESS WHEREOF, EL PASO CORPORATION
has caused this
instrument to be executed in its corporate name by the signature of its duly
authorized officer.
EL
PASO
CORPORATION
By:
Name:
Title:
DATED:
Exhibit
A-12
TRUSTEE’S
CERTIFICATE OF AUTHENTICATION
This
is one of the
7½% Senior Notes due 2006 referred to in the within-mentioned
Indenture.
HSBC
BANK USA,
NATIONAL ASSOCIATION
as
Trustee
By:
Authorized
Signatory
Exhibit
A-12
[REVERSE
OF
7½%
SENIOR
NOTE DUE 2006]
EL
PASO
CORPORATION
7½%
Senior
Note due 2006
This
note is one of
a duly authorized issue of securities of the Company (the “Securities”),
issued and to
be issued in one or more series under an Indenture, dated as of May 10, 1999
(the “Original
Indenture”),
as previously
supplemented and as further supplemented by a Tenth Supplemental indenture,
dated as of December 28, 2005 (the “Supplemental
Indenture,”
and
the Original
Indenture, as so supplemented, the “Indenture”),
between the
Company and HSBC Bank USA, National Association, a national banking association,
as successor-in-interest to JPMorgan Chase Bank (formerly The Chase Manhattan
Bank), as trustee (the “Trustee,”
which
term
includes any successor trustee under the Indenture), and reference is hereby
made to the Indenture for a statement of the respective rights, limitations
of
rights, duties and immunities thereunder of the Company, the Trustee and the
Holders and of the terms upon which the Securities are, and are to be,
authenticated and delivered. This note is one of the notes in a series
designated as 7½% Senior Notes due 2006 of the Company (hereinafter called the
“7½%
Notes”),
issued under
the Original Indenture, which 7½% Notes are limited in aggregate principal
amount to $204,910,000.
Except
as provided
in Sections 1006 and 1007 of the Original Indenture, neither the Indenture
nor
the 7½% Notes limit or otherwise restrict the amount of indebtedness which may
be incurred or other securities which may be issued by the Company. The 7½%
Notes issued under the Indenture are direct, unsecured obligations of the
Company and will mature on August 15, 2006. The 7½% Notes rank on parity with
all other unsecured, unsubordinated indebtedness of the Company.
The
7½% Notes will
bear interest as set forth on the face hereof.
The
7½% Notes are
not redeemable prior to their Stated Maturity.
The
7½% Notes are
not entitled to any sinking fund.
If
an Event of
Default with respect to the 7½% Notes shall occur and be continuing, the
principal of the 7½% Notes may be declared due and payable in the manner and
with the effect provided in the Indenture.
The
Indenture
permits, with certain exceptions as therein provided, the amendment thereof
and
the modification of the rights and obligations of the Company and the rights
of
the Holders of the Securities of each series to be affected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders
of a
majority in aggregate principal amount of the Outstanding Securities of all
series to be affected (voting as one class). The Indenture also contains
provisions permitting the Holders of a majority in aggregate principal amount
of
the Outstanding Securities of all affected series (voting as one class), on
behalf of the Holders of all Securities of such series, to waive compliance
by
the Company with certain provisions of the Indenture. The Indenture permits,
with certain exceptions as therein provided, the Holders of a majority in
aggregate principal amount of Securities of any series then Outstanding to
waive
past defaults under the Indenture with respect to such series and their
consequences. Any such consent or waiver by the Holder of this 7½% Note shall be
conclusive and binding upon such Holder and upon all future Holders of this
7½%
Note and of any Security issued upon the registration of transfer hereof or
in
exchange herefor or in lieu hereof, whether or not notation of such consent
or
waiver is made upon this 7½% Note.
As
provided in and
subject to the provisions of the Indenture, the Holder of this 7½% Note shall
not have the right to institute any proceeding with respect to the Indenture
or
for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of
a
continuing Event of Default with respect to the Securities of this series,
the
Holders of not less than 25% in principal amount of the Securities of this
series at the time Outstanding shall have made written request to the Trustee
to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity and the Trustee shall not have received from
the Holders of a majority in principal amount of the Securities of this series
at the time Outstanding a direction inconsistent with such request, and shall
have failed to institute any such proceeding, for 60 days after receipt of
such
notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this 7½% Note for the enforcement of any
payment of principal hereof or interest hereon on or after the respective due
dates expressed herein.
No
reference herein
to the Indenture and no provision of this 7½% Note or of the Indenture shall
alter or impair the obligation of the Company, which are absolute and
unconditional, to pay the principal of, and premium, if any, and interest on
this 7½% Note at the times, place(s) and rates, and in the coin or currency,
herein prescribed.
[If
a Global
Security, insert - The
holders of
beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture
and will not be considered the Holders hereof for any purpose under the
Indenture.]
As
provided in the
Indenture and subject to certain limitations therein set forth, the transfer
of
this 7½% Note is registrable in the Security Register, upon surrender of this
7½% Note for registration of transfer at the office or agency of the Company
in
the Borough of Manhattan, The City of New York, or at such other offices or
agencies as the Company may designate, duly endorsed by, or accompanied by
a
written instrument of transfer in form satisfactory to the Company and the
Security Registrar duly executed by, the Holder hereof or his attorney duly
authorized in writing, and thereupon one or more new Securities of this series
and of like tenor, of authorized denominations and for a like aggregate
principal amount, will be issued to the designated transferee or
transferees.
The
7½% Notes are
issuable only in registered forms without coupons, in minimum denominations
of
$1,000 or any integral multiple thereof. As provided in the Indenture and
subject to certain limitations therein set forth, the Securities of this series
are exchangeable for a like aggregate principal amount of Securities of this
series and of like tenor of a different authorized denomination, as requested
by
the Holder surrendering the same.
No
service charge
shall be made for any such registration of transfer or exchange, but the Company
may require payment of a sum sufficient to cover any transfer tax or other
similar governmental charge payable in connection therewith.
Prior
to due
presentment of this 7½% Note for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Person in
whose name this 7½% Note is registered as the owner hereof for all purposes,
whether or not this 7½% Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary.
No
recourse under
or upon any obligation, covenant or agreement of or contained in the Indenture
or of or contained in any Security, or for any claim based thereon or otherwise
in respect thereof, or in any Security, or because of the creation of any
indebtedness represented thereby, shall be had against any incorporator,
stockholder, officer or director, as such, past, present or future, of the
Company or of any successor Person, either directly or through the Company
or
any successor Person, whether by virtue of any constitution, statute or rule
of
law, or by the enforcement of any assessment, penalty or otherwise; it being
expressly understood that all such liability is hereby expressly waived and
released by the acceptance hereof and as a condition of, and as part of the
consideration for, the Securities and the execution of the
Indenture.
THIS
7½% NOTE SHALL
BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF
NEW
YORK.
Except
as otherwise
expressly provided herein, all terms used in this 7½% Note but not otherwise
defined herein shall have the meanings assigned to them in the
Indenture.
[If
a
Transfer Restricted Security, insert—The
Holder of this
7½% Note is entitled to the benefits of the Registration Rights Agreement, dated
as of December 28, 2005 (the “Registration
Rights Agreement”),
by and among
the Company and the Dealer Managers named therein, and such Holders shall also
have certain obligations to indemnify the Company under certain circumstances,
all as more fully set forth in the Registration Rights Agreement.]
Exhibit
A-12
ASSIGNMENT
FORM
FOR
VALUE RECEIVED,
the undersigned hereby sell(s), assign(s) and transfer(s) unto
_____________________________________ (Please Print or Typewrite Name and
Address of Assignee) the within instrument of EL PASO CORPORATION and does
hereby irrevocably constitute and appoint ________________________ Attorney
to
transfer said instrument on the books of the within-named Company, with full
power of substitution in the premises.
Please
Insert
Social Security or
Other
Identifying
Number of Assignee:
Dated:
(Signature)
Signature
Guarantee:
____________________________________________________________________________
(Participant
in a Recognized
Signature
Guaranty
Medallion
Program)
NOTICE:
The
signature to this assignment must correspond with the name as written upon
the
face of the within instrument in every particular, without alteration or
enlargement or any change whatever.
Exhibit
A-12
EXCHANGE/TRANSFER
CERTIFICATE
Re: 7½%
Senior Notes
due 2006 of El Paso Corporation (the “7½%
Notes”).
This
Exchange/Transfer Certificate relates to $____ principal amount of 7½% Notes
held by _____________________ (the “Transferor”).
The
Transferor has
requested the Security Registrar by written order to exchange or register the
transfer of a 7½% Note or 7½% Notes.
In
connection with
such request and in respect of each such 7½% Note, the Transferor does hereby
certify that the Transferor is familiar with the Indenture relating to the
above-captioned 7½% Notes and that the transfer of this 7½% Note does not
require registration under the Securities Act (as defined below)
because:**
□ Such
7½% Note is
being acquired for the Transferor’s own account without transfer.
□ Such
7½% Note is
being transferred (i) to a “qualified institutional buyer” (as defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities
Act”)),
in accordance
with Rule 144A under the Securities Act or (ii) pursuant to an exemption from
registration in accordance with Rule 904 of Regulation S under the Securities
Act (and in the case of clause (ii), based upon an opinion of counsel if the
Company or the Trustee so requests, together with a certification in
substantially the form of the Regulation S Certificate included in such 7½%
Note).
□ Such
7½% Note is
being transferred (i) pursuant to an exemption from registration in accordance
with Rule 144 under the Securities Act (and based upon an opinion of counsel
if
the Company or the Trustee so requests) or (ii) pursuant to an effective
registration statement under the Securities Act.
□ Such
7½% Note is
being transferred in reliance on and in compliance with another exemption from
the registration requirements of the Securities Act (and based upon an opinion
of counsel if the Company or the Trustee so requests).
[INSERT
NAME OF
TRANSFEROR]
By:
Name:
Title:
Address:
Date:
**Check
appropriate
box.
Exhibit
A-12
REGULATION
S CERTIFICATE
_________________,
_____
HSBC
BANK USA,
NATIONAL ASSOCIATION, as Security Registrar
000
Xxxxx
Xxxxxx
New
York, New York
10018
Attention:
Corporate Trust and Loan Agency
Ladies
and
Gentlemen:
In
connection with
our proposed sale of $_______________ principal amount of 7½% Senior Notes due
2006 (the “7½%
Notes”)
of El Paso
Corporation (the “Company”),
we confirm that
such sale has been effected pursuant to and in accordance with Regulation S
under the United States Securities Act of 1933, as amended (the “Securities
Act”),
and,
accordingly, we represent that:
(i)
|
the offer of the 7½% Notes was not made to a person in the United States of America; |
(ii)
|
at
the time
the buy order was originated, the transferee was outside the United
States
of America or we and any person acting on our behalf reasonably believed
that the transferee was outside the United States of
America;
|
(iii)
|
no
directed
selling efforts have been made by us in contravention of Rule 903
or Rule
904 of Regulation S under the Securities Act, as
applicable;
|
(iv)
|
the
transaction is not part of a plan or scheme to evade the registration
requirements of the Securities Act;
and
|
(v)
|
if
the
proposed transfer is being made prior to the expiration of the 40-day
distribution compliance period as set forth in Regulation S, the
transfer
is not being made to, or for the benefit or account of, a U.S. Person
(other than a distributor).
|
You,
the Trustee
and the Company are entitled to rely upon this Regulation S Certificate and
you
are irrevocably authorized to produce this Regulation S Certificate or a copy
hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. Terms used but
not
defined in this Regulation S Certificate have the meanings set forth in
Regulation S under the Securities Act.
Very
truly
yours,
[Name]
By:
Name:
Title:
Address:
Exhibit
A-12
[If
a Global
Security, insert as a separate page—
SCHEDULE
OF
INCREASES OR DECREASES
IN
GLOBAL
SECURITY
The
following
increases or decreases in this Global Security have been made:
Date
of Exchange
|
Amount
of Decrease in Principal Amount of this Global
Security
|
Amount
of Increase in Principal Amount of this
Global
Security
|
Principal
Amount of this Global Security following such decrease
(or
increase)
|
Signature
of authorized signatory of Trustee or Depositary]
|