Registration Rights Agreement Dated as of June 29, 2007 among Tektronix, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated Goldman, Sachs & Co. and Citigroup Global Markets Inc.
Exhibit 4.2
Dated as of June 29, 2007
among
Tektronix, Inc.
and
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated
Xxxxxxx, Sachs & Co.
and
Citigroup Global Markets Inc.
This Registration Rights Agreement (the “Agreement”) is made and entered into this 29th day of
June, 2007, between Tektronix, Inc., an Oregon corporation (the “Company”), and Xxxxxxx Lynch,
Pierce, Xxxxxx & Xxxxx Incorporated, Xxxxxxx, Sachs & Co. and Citibank Global Markets Inc. (the
“Initial Purchasers”).
This Agreement is made pursuant to the Purchase Agreement (the “Purchase Agreement”), dated
June 25, 2007, between the Company and the Initial Purchasers, which provides for the sale by the
Company to the Initial Purchasers of $300,000,000 aggregate principal amount ($345,000,000
aggregate principal amount if the Initial Purchasers exercise their over-allotment option in full)
of the Company’s 1.625% Senior Convertible Notes due 2012 (the “Notes” and together with the shares
of Common Stock of the Company into which the Notes are convertible, the “Securities”). In order
to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to
provide to the Initial Purchasers and its direct and indirect transferees the registration rights
set forth in this Agreement. The execution of this Agreement is a condition to the closing under
the Purchase Agreement.
In consideration of the foregoing, the parties hereto agree as follows:
1. Definitions.
As used in this Agreement, the following capitalized defined terms shall have the following
meanings:
“1933 Act” shall mean the Securities Act of 1933, as amended from time to time.
“1934 Act” shall mean the Securities Exchange Act of l934, as amended from time
to time.
“1939 Act” shall mean the Trust Indenture Act of 1939, as amended from time to
time.
“Additional Interest” shall have the meaning set forth in Section 2.4 herein.
“Agreement” shall have the meaning set forth in the preamble.
“Closing Date” shall mean the Initial Closing Time as defined in the Purchase
Agreement.
“Common Stock” shall mean any shares of common stock, without par value, of the
Company and any other shares of common stock as may constitute “Common Stock” for purposes
of the Indenture.
“Company” shall have the meaning set forth in the preamble and shall also
include the Company’s successors.
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“Depositary” shall mean The Depository Trust Company, or any other depositary
appointed by the Company, provided, however, that such depositary must have an address in
the Borough of Manhattan, in the City of New York.
“Effectiveness Period” shall have the meaning set forth in Section 2.1(b)
herein.
“Holder” shall mean an Initial Purchaser, for so long as it owns any
Registrable Securities, and each of its successors, assigns and direct and indirect
transferees who become owners, beneficial or otherwise, of Registrable Securities under the
Indenture.
“Indenture” shall mean the Indenture relating to the Securities, dated as of
the date hereof, between the Company and U.S. Bank National Association, as Trustee, as the
same may be amended, supplemented, waived or otherwise modified from time to time in
accordance with the terms thereof.
“Initial Purchasers” shall have the meaning set forth in the preamble.
“Issuer Free Writing Prospectus” shall have the meaning set forth in Section
2.1(f) herein.
“Majority Holders” shall mean the Holders of a majority of the aggregate
principal amount of outstanding Registrable Securities; provided that, for purposes of this
definition, (1) a Holder of shares of Common Stock that constitute Registrable Securities
which were issued upon conversion of the Notes shall be deemed to hold an aggregate
principal amount at maturity of Registrable Securities (in addition to the principal amount
at maturity of any Registrable Securities held by such Holder) equal to the principal amount
at maturity of Registrable Securities which were converted into such shares of Common Stock
and (2) such Registrable Securities which were converted into such shares of Common Stock
shall be deemed to be outstanding; provided further, that whenever the consent or approval
of Holders of a specified percentage of Registrable Securities is required hereunder,
Registrable Securities held by the Company or any Affiliate (as defined in the Indenture) of
the Company shall be disregarded in determining whether such consent or approval was given
by the Holders of such required percentage amount.
“Notes” shall have the meaning set forth in the preamble.
“Offering Memorandum” shall mean the offering memorandum of the Company, dated
June 25, 2007, related to the Securities.
“Person” shall mean an individual, partnership (general or limited),
corporation, limited liability company, trust or unincorporated organization, or a
government or agency or political subdivision thereof.
“Prospectus” shall mean the prospectus included in a Shelf Registration
Statement, including any preliminary prospectus, and any such prospectus as amended or
supplemented by any prospectus supplement, including any such prospectus supplement with
respect to the terms of the offering of any portion of the Registrable Securities
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covered by a Shelf Registration Statement, and by all other amendments and supplements
to a prospectus, including post-effective amendments, and in each case including all
materials incorporated by reference therein.
“Purchase Agreement” shall have the meaning set forth in the preamble.
“Questionnaire” shall have the meaning set forth in Section 2.1(d) herein.
“Registrable Securities” shall mean all or any of the Securities; provided,
however, that any such Securities shall cease to be Registrable Securities at the earliest
of when (i) a Shelf Registration Statement with respect to such Securities shall have been
declared effective or otherwise become effective under the 1933 Act and such Securities
shall have been disposed of pursuant to such Shelf Registration Statement, (ii) such
Securities have been sold to the public pursuant to Rule 144 or may be sold or transferred
pursuant to Rule l44(k) (or any similar provision then in force, but not Rule 144A) under
the 1933 Act by holders who are not “affiliates” of the Company, or (iii) such Securities
shall have ceased to be outstanding.
“Registration Default” shall have the meaning set forth in Section 2.4 herein.
“Registration Expenses” shall mean any and all expenses incident to performance
of or compliance by the Company with this Agreement, whether or not a Shelf Registration
Statement becomes effective, including without limitation: (i) all SEC, stock exchange or
National Association of Securities Dealers, Inc. (the “NASD”) registration and filing fees,
including, if applicable, the reasonable and documented fees and expenses of any “qualified
independent underwriter” (and its counsel) that is required to be retained by any holder of
Registrable Securities in accordance with the rules and regulations of the NASD, (ii) all
fees and expenses incurred by the Company in connection with compliance with state
securities or blue sky laws and compliance with the rules of the NASD (including reasonable
and documented fees and disbursements of counsel for any underwriters or Holders in
connection with blue sky qualification of any of the Registrable Securities and any filings
with the NASD), (iii) all expenses of the Company in preparing or assisting in preparing,
word processing, printing and distributing any Shelf Registration Statement, any Prospectus,
any amendments or supplements thereto, any securities sales agreements and other documents
relating to the performance of and compliance with this Agreement, (iv) all fees and
expenses incurred by the Company in connection with the listing, if any, of any of the
Registrable Securities on any securities exchange or exchanges, (v) all rating agency fees
incurred by the Company, if any, (vi) the fees and disbursements of counsel for the Company
and of the independent public accountants of the Company, including the expenses of any
special audits or “comfort” letters required by or incident to such performance and
compliance, (vii) the reasonable and documented fees and expenses of the Trustee, and any
escrow agent or custodian, (viii) the reasonable and documented fees and expenses of a
single counsel to the Holders (the “Holders’ Counsel”) in connection with the Shelf
Registration Statement, and (ix) any fees and expenses of any special experts retained by
the Company in connection with any Shelf Registration Statement, but excluding any
underwriting discounts and commissions and transfer taxes, if any, relating to the sale or
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disposition of Registrable Securities by a Holder and the fees and expenses of any
counsel to the Holders, except as provided for in clause (viii) above.
“SEC” shall mean the Securities and Exchange Commission or any successor agency
or government body performing the functions currently performed by the United States
Securities and Exchange Commission.
“Securities” shall have the meaning set forth in the preamble.
“Shelf Registration” shall mean a registration effected pursuant to Section 2.1
hereof.
“Shelf Registration Statement” shall mean a “shelf” registration statement of
the Company pursuant to the provisions of Section 2.1 of this Agreement which covers all of
the Registrable Securities on an appropriate form under Rule 415 under the 1933 Act, or any
similar rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all materials incorporated by
reference therein.
“Suspension Period” shall have the meaning set forth in Section 2.5 herein.
“Trustee” shall mean the trustee with respect to the Securities under the
Indenture.
“Underwriter” shall have the meaning set forth in Section 4(a).
“Well-Known Seasoned Issuer” shall have the meaning set forth in Rule 405 under
the 1933 Act.
2. Registration Under the 0000 Xxx.
2.1 Shelf Registration.
(a) The Company shall, at its cost, no later than 120 days after the Closing Date, file
with
the SEC, and thereafter shall use its commercially reasonable efforts to cause to be declared
effective as promptly as practicable but no later than 210 days after the Closing Date, a Shelf
Registration Statement relating to the offer and sale of the Registrable Securities by the Holders
that have provided the information pursuant to Section 2.1(d); provided, however, that in the event
the Company is eligible for, and elects to utilize, the “automatic shelf” registration procedure on
Form S-3 available to Well-Known Seasoned Issuers, the only obligation of the Company under this
Section 2.1(a) shall be to file a Shelf Registration Statement with the SEC no later than 150 days
after the Closing Date, provided that such Shelf Registration Statement becomes immediately
effective upon filing pursuant to Rule 462 under the 1933 Act, as such rule may be amended from
time to time.
(b) The Company shall, at its cost, use its commercially reasonable efforts, subject to
Section 2.5, to keep the Shelf Registration Statement continuously effective in order to permit the
Prospectus forming part thereof to be usable by Holders for the period (the
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“Effectiveness Period”)
beginning upon the effective date of the Shelf Registration Statement until the earliest to occur
of (1) the sale pursuant to the Shelf Registration Statement of the Registrable Securities, (2) the
date when the Holders, other than Holders that are “affiliates” (as defined in Rule 405 under the
0000 Xxx) of the Company, are able to sell all such Registrable Securities immediately without
restriction pursuant to the volume limitation provisions of Rule 144 under the 1933 Act or any
successor Rule thereto or otherwise and (3) the date that is two years from the Closing Date.
(c) Notwithstanding any other provisions hereof, the Company shall use its commercially
reasonable efforts to provide that (i) any Shelf Registration Statement and any amendment thereto
and any Prospectus forming part thereof and any supplement thereto complies in all material
respects with the 1933 Act and the rules and regulations thereunder, (ii) any Shelf Registration
Statement and any amendment thereto does not, when it becomes effective, contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any Prospectus forming part of
any Shelf Registration Statement, and any supplement to such Prospectus (as amended or supplemented
from time to time), does not include an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.
(d) Notwithstanding any other provision hereof, no Holder of Registrable Securities may
include any of its Registrable Securities in the Shelf Registration Statement pursuant to this
Agreement unless the Holder furnishes to the Company a fully completed notice and questionnaire in
the form attached as Annex A to the Offering Memorandum (the “Questionnaire”) and such other
information in writing as the Company may reasonably request in writing for use in connection with
the Shelf Registration Statement or Prospectus included therein and in any application to be filed
with or under state securities laws. At least 30 days prior to the filing of the Shelf Registration
Statement, the Company will provide notice (which notice may be by means of a press release) to the
Holders of its intention to file the Shelf Registration Statement. In order to be named as a
selling securityholder in the Prospectus at the time of effectiveness of the Shelf Registration
Statement, each Holder must, before the filing of the Shelf Registration Statement and no later
than the 20th day after being notified of the Company’s intention to file, furnish the completed
Questionnaire and such other information that the Company may reasonably request in writing, if
any, to the Company in writing and the Company shall include the information from the completed
Questionnaire and such other information, if any, in the Shelf Registration Statement and the
Prospectus in a manner so that upon effectiveness of the Shelf Registration Statement the Holder
will be permitted to deliver the Prospectus to purchasers of the Holder’s Registrable Securities.
From and after the date that the Shelf Registration Statement is first declared effective by the
SEC or otherwise becomes effective, upon receipt of a completed Questionnaire and such other
information that the Company may reasonably request in writing, if any, the Company will use its
commercially reasonable efforts to file (i) within 20 business days any amendments or supplements
to the Shelf Registration Statement or (ii) within 10 business days any report filed with the SEC
under the 1934 Act, if the Company is permitted to do so pursuant to the 1933 Act and the
regulations
thereunder, necessary for such Holder to be named as a selling securityholder in the
Prospectus contained therein to permit such Holder to deliver the Prospectus to purchasers of the
Holder’s Registrable Securities (subject to the Company’s right to suspend the Shelf Registration
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Statement as described in Section 2.5 below); provided, however, that the Company shall not be
required to file more than one of the documents listed in clauses (i) and (ii) of this paragraph
(d) in any calendar quarter for all such Holders. Holders that do not deliver a completed written
Questionnaire and such other information, as provided for in this Section 2.1(d), will not be named
as selling securityholders in the Prospectus. Each Holder named as a selling securityholder in the
Prospectus agrees to promptly furnish to the Company all information required to be disclosed in
order to make information previously furnished to the Company by the Holder not materially
misleading and any other information regarding such Holder and the distribution of such Holder’s
Registrable Securities as the Company may from time to time reasonably request in writing.
(e) During the Effectiveness Period, each Holder agrees not to sell any Registrable Securities
pursuant to the Shelf Registration Statement without delivering, or causing to be delivered, a
Prospectus to the purchaser thereof.
(f) The Company represents and agrees that, unless it obtains the prior consent of Holders of
a majority in principal amount of the Registrable Securities that are registered under the Shelf
Registration Statement at such time or the approval of Holders’ Counsel or the consent of the
managing underwriter in connection with any underwritten offering of Registrable Securities, and
each Holder represents and agrees that, unless it obtains the prior consent of the Company and any
such underwriter, it will not during the Effectiveness Period make any offer relating to the
Securities (which, for the avoidance of doubt, will not include any shares of Common Stock which
are not Securities within the meaning of this Agreement) that would constitute an “issuer free
writing prospectus,” as defined in Rule 433 under the 1933 Act (any such issuer free writing
prospectus relating to any such offer made by the Company during the Effectiveness Period, an
“Issuer Free Writing Prospectus”), or that would otherwise constitute a “free writing prospectus,”
as defined in Rule 405 under the 1933 Act, required to be filed with the SEC. The Company
represents that any Issuer Free Writing Prospectus will not include any information that conflicts
with the information contained in the Shelf Registration Statement or Prospectus and that any
Issuer Free Writing Prospectus, when taken together with the information in the Shelf Registration
Statement and the Prospectus, will not include any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading.
The Company will not permit any securities other than Registrable Securities to be included in
the Shelf Registration Statement. The Company agrees to supplement or amend the Shelf Registration
Statement if required by the rules, regulations or instructions applicable to the registration form
used by the Company if required by the 1933 Act, or to the extent the Company does not reasonably
object, as reasonably requested in writing by any Holder with respect to information relating to
such Holder, and to furnish to the Holders of Registrable Securities that are covered under such
Shelf Registration Statement copies of any such supplement or amendment promptly after its being
used or filed with the SEC in such amounts as they may reasonably request.
2.2 Expenses. The Company shall pay all Registration Expenses in connection with the
registration pursuant to Section 2.1. Each Holder shall pay all underwriting
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discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of such Holder’s
Registrable Securities pursuant to the Shelf Registration Statement.
2.3 Effectiveness. (a) The Company will be deemed not to have used its commercially
reasonable efforts to cause the Shelf Registration Statement to become, or to remain,
effective during the requisite period (subject to Section 2.5) if the Company voluntarily
takes any action that would, or voluntarily omits to take any action which omission would,
result in any such Shelf Registration Statement not being declared effective or in the Holders
of Registrable Securities covered thereby not being able to offer and sell such Registrable
Securities during that period as and to the extent contemplated hereby, unless such action or
omission is required by applicable law.
(b) A Shelf Registration Statement will not be deemed to have become effective unless it has
been declared effective by the SEC or has become automatically effective under the 1933 Act;
provided, however, that if, after it has been declared or become effective, the offering of
Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop
order, injunction or other order or requirement of the SEC or any other governmental agency or
court, such Shelf Registration Statement will be deemed not to have become effective during the
period of such interference, until the offering of Registrable Securities pursuant to such Shelf
Registration Statement may legally resume.
2.4 Interest. In the event that (a) a Shelf Registration Statement is not filed with the
SEC on or before the 120th calendar day following the Closing Date, (b) a Shelf Registration
Statement is not declared effective or otherwise becomes effective on or prior to the 210th
calendar day following the Closing Date, (c) after effectiveness, subject to Section 2.5, the
Shelf Registration Statement ceases to be effective or fails to be usable by the Holders
without being succeeded within seven business days by a post-effective amendment or a report
filed with the SEC pursuant to the 1934 Act that immediately cures the failure to be effective
or usable, or (d) the Prospectus is unusable by the Holders for any reason, and the Suspension
Period (as defined in Section 2.5 hereof) exceeds the number of days set forth in Section 2.5
(each such event being a “Registration Default”), additional interest (“Additional
Interest”) will accrue at a rate per annum of one-quarter of one percent (0.25%) of the
principal amount of the Registrable Securities for the first 90 day period from the day
following the Registration Default, and thereafter at a rate per annum of one-half of one
percent (0.50%) of the principal amount of the Registrable Securities; provided that in no
event shall Additional Interest accrue at a rate per annum exceeding one half of one percent
(0.50%) of the issue price of the Registrable Securities; provided further that no Additional
Interest shall accrue after the second anniversary of the Closing Date; provided further that
Additional Interest shall not accrue under clause (a) above in the event that the Company is
eligible for, and elects to utilize, the “automatic shelf” registration procedure on Form S-3
available to Well-Known Seasoned Issuers and files a Shelf Registration Statement
with the SEC no later than 150 days after the Closing Date, which Shelf Registration Statement
shall become immediately effective upon filing pursuant to Rule 462 under the 1933 Act, as such
rule may be amended from time to time; provided further that Additional Interest shall not accrue
under clause (c) and (d) above with respect to any Holder that (x) does not submit a properly
completed Questionnaire, and (y) is not named as a selling securityholder in the Shelf Registration
Statement. Upon the cure of all Registration Defaults then continuing, the accrual of Additional
Interest will automatically cease and the interest rate borne by the
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Registrable Securities will
revert to the original interest rate at such time. Additional Interest shall be computed based on
the actual number of days elapsed in each 90-day period in which the Shelf Registration Statement
or the Prospectus is not effective or is unusable. Holders who have converted Securities into
Common Stock will not be entitled to receive any Additional Interest with respect to such Common
Stock or the issue price of the Securities converted.
The Company shall notify the Trustee within five business days after each and every date on
which an event occurs in respect of which Additional Interest is required to be paid. Additional
Interest shall be paid by depositing with the Trustee, in trust, for the benefit of the Holders of
Registrable Securities, on or before the applicable semiannual interest payment date, in
immediately available funds in sums sufficient to pay the Additional Interest then due. The
Additional Interest due shall be payable in arrears on each interest payment date to the record
Holder of Registrable Securities entitled to receive the interest payment to be paid on such date
as set forth in the Indenture. Each obligation to pay Additional Interest shall be deemed to
accrue from and including the day following the Registration Default to but excluding the day on
which the Registration Default is cured.
A Registration Default under clause (a) above shall be cured on the date that the Registration
Statement is filed with the SEC. A Registration Default under clause (b) above shall be cured on
the date that the Shelf Registration Statement is declared effective by the SEC or deemed to become
automatically effective under the 1933 Act. A Registration Default under clauses (c) or (d) above
shall be cured on the date an amended Shelf Registration Statement is declared effective by the SEC
or deemed to become automatically effective under the 1933 Act, or the Company otherwise declares
the Shelf Registration Statement and the Prospectus useable, as applicable. The Company will have
no liabilities for monetary damages other than the Additional Interest with respect to any
Registration Default.
2.5 Suspension. Notwithstanding any other provision hereof, the Company may suspend the
use of any Prospectus, without incurring or accruing any obligation to pay Additional Interest
pursuant to Section 2.4 hereof or being deemed in violation of any other provision hereof, for
a period or periods (each, a “Suspension Period”) not to exceed an aggregate 45 calendar days
in any three-month period, or an aggregate of 90 calendar days in any twelve-month period, if
management of the Company shall have determined in good faith that because of valid business
reasons (not including avoidance of the Company’s obligations hereunder), including without
limitation proposed or pending corporate developments and similar events or because of filings
with the SEC, it is in the best interests of the Company to suspend such use, and prior to
suspending such use the Company provides the Holders with written notice of such suspension,
which notice need not specify the nature of the event giving rise to such suspension;
provided, however, that such
Suspension Period may be extended to an aggregate of 60 calendar days in any three-month period, or
an aggregate of 120 calendar days in any twelve-month period, if the Company in good faith
determines that such extension is in the best interests of the Company because (x) the Company is
in possession of material, nonpublic information concerning an acquisition, merger,
recapitalization, consolidation, reorganization, financing or other material transaction by or of
the Company or concerning pending or threatened litigation, and (y) disclosure of such information
would be materially adverse to the Company and its subsidiaries taken as a whole. Each Holder
shall keep confidential any
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communications received by it from the Company regarding the suspension
of the use of the Prospectus, except as required by applicable law.
3. Registration Procedures.
In connection with the obligations of the Company with respect to the Shelf Registration, the
Company shall, subject to the rights of the Company to invoke and maintain a Suspension Period in
accordance with Section 2.5 without being in violation of any of the provisions hereunder:
(a) prepare and file with the SEC a Shelf Registration Statement, within the relevant time
period specified in Section 2, on the appropriate form under the 1933 Act, which form (i) shall be
selected by the Company, (ii) shall be available for the sale of the Registrable Securities by the
selling Holders thereof, (iii) shall comply as to form in all material respects with the
requirements of the applicable form and include or incorporate by reference all financial
statements required by the SEC to be filed therewith or incorporated by reference therein, and (iv)
shall comply in all respects with the applicable requirements of Regulation S-T under the 1933 Act,
if any, and use commercially reasonable efforts to cause such Shelf Registration Statement to
become effective and remain effective in accordance with Section 2 hereof;
(b) prepare and file with the SEC such amendments and post-effective amendments to the Shelf
Registration Statement as may be necessary under applicable law to keep the Shelf Registration
Statement effective for the Effectiveness Period, subject to Section 2.5; and cause each Prospectus
to be supplemented by any required prospectus supplement, and as so supplemented to be filed
pursuant to Rule 424 (or any similar provision then in force) under the 1933 Act and comply during
the Effectiveness Period with the provisions of the 1933 Act, the 1934 Act and the rules and
regulations thereunder required to enable the disposition of all Registrable Securities covered by
the Shelf Registration Statement in accordance with the intended method or methods of distribution
by the selling Holders thereof;
(c) (i) notify each Holder of Registrable Securities (which notification may be effected
by
issuing a press release) of the filing of a Shelf Registration Statement with respect to the
Registrable Securities; (ii) furnish to each Holder of Registrable Securities that has provided the
information required by Section 2.1(d) and to each underwriter of an underwritten offering of
Registrable Securities, if any, without charge, electronic copies of each Prospectus, including
each preliminary Prospectus, and any amendment or supplement thereto and such other documents as
such Holder or underwriter may reasonably request, including financial statements
and schedules and, if the Holder so requests, all exhibits in order to facilitate the
unrestricted sale or other disposition of the Registrable Securities; and (iii) subject to Section
2.5 hereof and to any notice by the Company in accordance with Section 3(e) hereof of the existence
of any fact of the kind described in Sections 3(e)(ii), (iii), (iv), (v) and (vi) hereof, hereby
consent to the use of the Prospectus or any amendment or supplement thereto by each of the selling
Holders of Registrable Securities that has provided the information required by Section 2.1(d) in
connection with the offering and sale of the Registrable Securities;
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(d) use commercially reasonable efforts to register or qualify the Registrable Securities for
exemptions under all applicable state securities or “blue sky” laws of such jurisdictions as any
Holder of Registrable Securities covered by a Shelf Registration Statement and each underwriter of
an underwritten offering of Registrable Securities shall reasonably request, and do any and all
other acts and things which may be reasonably necessary or advisable to enable each such Holder and
underwriter to consummate the disposition in each such jurisdiction of such Registrable Securities
owned by such Holder; provided, however, that the Company shall not be required to (i) qualify as a
foreign corporation or as a dealer in securities in any jurisdiction where it would not otherwise
be required to qualify but for this Section 3(d), or (ii) take any action which would subject it to
general service of process or taxation in any such jurisdiction where it is not then so subject;
(e) notify promptly each Holder of Registrable Securities under a Shelf Registration Statement
that has provided the information required by Section 2.1(d) and, if requested by such Holder,
confirm such advice in writing promptly (i) when a Shelf Registration Statement has become
effective and when any post-effective amendments thereto have become effective, (ii) of any request
by the SEC or any state securities authority for post-effective amendments and supplements to a
Shelf Registration Statement and Prospectus or for additional information relating thereto after
the Shelf Registration Statement has become effective, (iii) of the issuance by the SEC or any
state securities authority of any stop order suspending the effectiveness of a Shelf Registration
Statement or the initiation of any proceedings for that purpose, (iv) of the happening of any event
or the discovery of any facts during the period a Shelf Registration Statement is effective which
makes any statement made in such Shelf Registration Statement or the related Prospectus untrue in
any material respect or which requires the making of any changes in such Shelf Registration
Statement or Prospectus in order to make the statements therein (in the case of the Prospectus in
light of the circumstances under which they were made) not misleading, (v) of the receipt by the
Company of any notification with respect to the suspension of the qualification of the Registrable
Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such
purpose and (vi) of any determination by the Company that a post-effective amendment to such Shelf
Registration Statement would be appropriate, other than a post-effective amendment solely to add
selling Holders;
(f) furnish to Holders’ Counsel on behalf of the Holders of Registrable Securities
(i) copies
of any comment letters received from the SEC with respect to a Shelf Registration Statement, and,
if requested, with respect to any documents incorporated therein and (ii) any other request by the
SEC or any state securities authority for amendments or supplements to a Shelf Registration
Statement and Prospectus or for additional information with respect to the Shelf Registration
Statement and Prospectus;
(g) use commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of a Shelf Registration Statement at the earliest practicable moment and provide
prompt notice to each Holder of the withdrawal of such order;
(h) furnish, upon request, to each Holder of Registrable Securities that has provided the
information required by Section 2.1(d), and each underwriter, if any, without charge, at least one
conformed copy of each Shelf Registration Statement and any post-effective
11
amendment thereto,
including financial statements and schedules (without documents incorporated therein by reference
and all exhibits thereto, unless requested);
(i) if electronic global certificates for the Registrable Securities are not then available,
cooperate with the selling Holders of Registrable Securities to facilitate the timely preparation
and delivery of certificates representing Registrable Securities to be sold and not bearing any
restrictive legends (other than as required by applicable law); and enable such Registrable
Securities to be in such denominations (consistent with the provisions of the Indenture) and
registered in such names as the selling Holders or the underwriters, if any, may reasonably request
at least three business days prior to the closing of any sale of Registrable Securities;
(j) upon the occurrence of any event or the discovery of any facts, each as contemplated by
Sections 3(e)(ii), (iii), (iv), (v) and (vi) hereof, as promptly as practicable after the
occurrence of such an event, use commercially reasonable efforts to prepare a supplement or
post-effective amendment to the Shelf Registration Statement or the related Prospectus or any
document incorporated therein by reference or file any other required document so that, as
thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not
contain at the time of such delivery any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading or will remain so qualified. At such time as such public disclosure
is otherwise made or the Company determines that such disclosure is not necessary, in each case to
correct any misstatement of a material fact or to include any omitted material fact, the Company
agrees promptly to notify each Holder of Registrable Securities covered by such Shelf Registration
Statement of such determination and to furnish each Holder such number of copies of the Prospectus
as amended or supplemented, as such Holder may reasonably request;
(k) no less than three business days after the filing of any Shelf Registration Statement, any
Prospectus, any amendment to a Shelf Registration Statement or amendment or supplement to a
Prospectus (other than amendments and supplements that do nothing more than name Holders and
provide information with respect thereto), provide copies of such document to the Trustee on behalf
of such Holders, and make representatives of the Company, as shall be reasonably requested by the
Holders’ Counsel, available for discussion of such document;
(l) obtain CUSIP numbers for all Registrable Securities not later than the effective date of
the Shelf Registration Statement and provide the Trustee with printed certificates for the
Registrable Securities in a form eligible for deposit with the Depositary;
(m) (i) cause the Indenture to be qualified under the 1939 Act in connection with the
registration of the Registrable Securities, (ii) cooperate with the Trustee and the Holders to
effect such changes to the Indenture as may be required for the Indenture to be so qualified in
accordance with the terms of the 1939 Act, and (iii) execute, and use commercially reasonable
efforts to cause the Trustee to execute, all documents as may be required to effect such changes,
and all other forms and documents required to be filed with the SEC to enable the Indenture to be
so qualified in a timely manner;
12
(n) subject to the last paragraph of this Section 3(n), enter into such customary
agreements
(including, if requested, an underwriting agreement in customary form) and take all other customary
and appropriate actions, if any, as the Majority Holders shall reasonably request in writing in
order to expedite or facilitate the disposition of such Registrable Securities, including, but not
limited to:
(i) if an underwriting agreement is entered into, obtain opinions of counsel to the
Company and updates thereof addressed to each selling Holder and the underwriters covering
the matters set forth in the opinions of such counsel delivered at the Closing Date as are
customarily covered in legal opinions in connection with an underwritten offering of
securities;
(ii) if an underwriting agreement is entered into, obtain “comfort” letters and updates
thereof from the Company’s independent certified public accountants (and, if necessary, any
other independent certified public accountants of any subsidiary of the Company or of any
business acquired by the Company for which financial statements are, or are required to be,
included in the Shelf Registration Statement) addressed to the underwriters, and use
reasonable efforts to have such letter addressed to the selling Holders of Registrable
Securities (to the extent consistent with Statement on Auditing Standards No. 72 of the
American Institute of Certified Public Accountants), such letters to be substantially in the
form of, and covering the matters covered in, the comfort letter delivered on the Closing
Date;
(iii) if an underwriting agreement is entered into, cause the same to set forth
indemnification provisions and procedures substantially equivalent to the indemnification
provisions and procedures set forth in Section 4 hereof with respect to the underwriters and
all other parties to be indemnified pursuant to said Section or, at the request of any
underwriters, in the form customarily provided to such underwriters in similar types of
transactions; and
(iv) deliver such documents and certificates as may be reasonably requested and as are
customarily delivered in similar offerings to the Holders of a majority in principal amount
of the Registrable Securities being sold and the managing underwriters, if any.
The above shall be done only in connection with any underwritten offering of not less than one half
of the Registrable Securities using such Shelf Registration Statement pursuant to an underwriting
or similar agreement as and to the extent required thereunder, and as reasonably requested by the
Majority Holders thereto; provided, however, that, anything herein to the
contrary notwithstanding, in no event will an underwritten offering of Registrable Securities be
made without the prior written agreement of the Company, which may be withheld in the Company’s
sole discretion; provided further, that, anything herein to the contrary notwithstanding, in no
event will the Company be required to pay the costs and expenses of, or to participate in the
marketing or “road show” presentations of, any underwritten offering of Registrable Securities;
13
(o) if reasonably requested in connection with a disposition of Registrable Securities, make
available for inspection during business hours by representatives of the Holders of the Registrable
Securities, any underwriters participating in any disposition pursuant to a Shelf Registration
Statement and any counsel or accountant retained by any of the foregoing, all appropriate financial
and other records, pertinent corporate documents and properties of the Company reasonably requested
in writing by any such persons, and cause the respective officers, directors, employees, and any
other agents of the Company to supply all information reasonably requested by any such
representative, underwriter, special counsel or accountant in connection with a Shelf Registration
Statement, and make such representatives of the Company available for discussion of such documents
as shall be reasonably requested by the Initial Purchasers, in each case as is customary for “due
diligence” investigations; provided that, to the extent the Company, in its reasonable discretion,
agrees to disclose material non-public information, such persons shall first agree in writing with
the Company that any such non-public information shall be kept confidential by such persons and
shall be used solely for the purposes of exercising rights under this Agreement and such person
shall not engage in trading any securities of the Company until such material non-public
information becomes properly publicly available, unless (i) disclosure of such information is
required by court or administrative order or is necessary to respond to inquiries of regulatory
authorities, (ii) disclosure of such information is required by law (including any disclosure
requirements pursuant to federal securities laws in connection with the filing of any Shelf
Registration Statement or the use of any Prospectus referred to in this Agreement upon a customary
opinion of counsel for such persons delivered and reasonably satisfactory to the Company), (iii)
such information becomes generally available to the public other than as a result of a disclosure
or failure to safeguard by any such person, (iv) such information becomes available to any such
person from a source other than the Company and such source is not bound by a confidentiality
agreement, or (v) such non-public information ceases to be material; provided further, that, the
foregoing inspection and information gathering shall, to the greatest extent possible, be
coordinated on behalf of all the Holders and the other parties entitled thereto by Holders’
Counsel;
(p) if requested in writing by any selling Holder of Registrable Securities that has provided
the information required by Section 2.1(d), a reasonable time prior to filing the Shelf
Registration Statement, any Prospectus forming a part thereof, any amendment to the Shelf
Registration Statement or amendment or supplement to such Prospectus (other than amendments and
supplements that do nothing more than name Holders and provide information with respect thereto),
(i) provide copies of such document to the Holders of Registrable Securities that have provided the
information required by Section 2.1(d), to Holders’ Counsel and to the underwriter or underwriters
of an underwritten offering of Registrable Securities, if any, (ii) make such changes in any such
document prior to the filing thereof as Holders’ Counsel or the underwriter or underwriters
reasonably agree should be included therein and provide to the Company in writing for inclusion
therein within three business days of delivery of such copies,
(iii) if requested by any selling Holder of Registrable Securities that has provided the
information required by Section 2.1(d), not file any such document in a form (A) to which the
Majority Holders, Holders’ Counsel or any underwriter shall not have previously been advised and
furnished a copy of or (B) to which the Majority Holders, Holders’ Counsel or any underwriter shall
reasonably object within three business days of delivery of such copies, and (iv) make the
representatives of the Company available for discussion of such document as shall be reasonably
requested in writing by the Holders of Registrable Securities, Holders’ Counsel or any
14
underwriter;
provided, however, that the foregoing discussion shall be coordinated on behalf of the parties
entitled thereto by the Holders’ Counsel;
(q) if requested by any selling Holder or the underwriters, if any, incorporate in the Shelf
Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if
necessary, such information as such selling Holder or underwriter, if any, may reasonable request
in writing to have included therein with respect to the name or names of such selling Holder, the
number of shares of Common Stock or principal amount of Securities owned by such Holder, the plan
of distribution of the Registrable Securities (as required by Item 508 of Regulation S-K), the
principal amount of Securities or number of shares of Common Stock being sold, the purchase price
being paid therefor, and any other terms of the offering of the Registrable Securities to be sold
in such offering;
(r) use commercially reasonable efforts to cause all Registrable Securities to be listed on
any securities exchange or inter-dealer quotation system on which similar debt securities issued by
the Company are then listed if requested by the Majority Holders, or if requested by the
underwriter or underwriters of an underwritten offering of Registrable Securities, if any;
(s) [intentionally deleted];
(t) otherwise comply with all applicable rules and regulations of the SEC and make available
to its security holders, as soon as reasonably practicable, an earnings statement covering at least
12 months which shall satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158
thereunder; and
(u) cooperate and assist in any filings required to be made with the NASD and in the
performance of any due diligence investigation by any underwriter and its counsel (including any
“qualified independent underwriter” that is required to be retained in accordance with the rules
and regulations of the NASD).
Without limiting the provisions of Section 2.1(d), the Company may (as a condition to such
Holder’s participation in the Shelf Registration) require each Holder of Registrable Securities to
furnish to the Company such information regarding the Holder and the proposed distribution by such
Holder of such Registrable Securities as the Company may from time to time reasonably request in
writing.
Each Holder agrees that, upon receipt of any notice from the Company of the happening of any
event or the discovery of any facts, each of the kind described in Section 3(e)(ii), (iii), (iv),
(v) or (vi) hereof, such Holder will forthwith discontinue disposition of
Registrable Securities pursuant to the Prospectus included in the Shelf Registration Statement
until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 3(j) hereof or written notice from the Company that the Shelf Registration Statement is
again effective and no amendment or supplement is needed, and, if so directed by the Company, such
Holder will deliver to the Company (at its expense) all copies in such Holder’s possession, other
than permanent file copies then in such Holder’s possession, of the Prospectus covering such
Registrable Securities current at the time of receipt of such notice.
15
If any of the Registrable Securities covered by any Shelf Registration Statement are to be
sold in an underwritten offering, the underwriter or underwriters and manager or managers that will
manage such offering will be selected by the Majority Holders of such Registrable Securities
included in such offering and shall be acceptable to the Company. No Holder of Registrable
Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees
to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (b) completes and
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other
documents required under the terms of such underwriting arrangements.
4. Indemnification; Contribution.
(a) The Company agrees to indemnify and hold harmless the Initial Purchasers, each Holder,
each Person who participates as an underwriter, if any (any such Person being an “Underwriter”) and
each Person, if any, who controls any such Holder or Underwriter within the meaning of Section 15
of the 1933 Act or Section 20 of the 1934 Act as follows:
(i) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, arising out of any untrue statement or alleged untrue statement of a material fact
contained in any Shelf Registration Statement (or any amendment or supplement thereto)
pursuant to which Registrable Securities were registered under the 1933 Act, including all
documents incorporated therein by reference, or the omission or alleged omission therefrom
of a material fact required to be stated therein or necessary to make the statements therein
not misleading, or arising out of any untrue statement or alleged untrue statement of a
material fact contained in any Prospectus (or any amendment or supplement thereto) or any
Issuer Free Writing Prospectus (or any amendment or supplement thereto) or the omission or
alleged omission therefrom of a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading;
(ii) against any and all loss, liability, claim, damage and expense whatsoever, as
incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any
investigation or proceeding by any governmental agency or body, commenced or threatened, or
of any claim whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission; provided that
(subject to Section 4(d) below) any such settlement is effected with the written
consent of the Company; and
(iii) against any and all expense whatsoever, as incurred (including the reasonable
and
documented fees and disbursements of counsel chosen by any indemnified party), reasonably
incurred and documented in investigating, preparing or defending against any litigation, or
any investigation or proceeding by any governmental agency or body, commenced or threatened,
or any claim whatsoever based upon any such untrue statement or omission, or any such
alleged untrue statement or omission, to the extent that any such expense is not paid under
subparagraph (i) or (ii) above;
16
provided, however, that this indemnity agreement shall not apply to any loss, liability, claim,
damage or expense to the extent arising out of (A) any untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with written information
furnished to the Company by or on behalf of the Initial Purchasers, any Holder or Underwriter, if
any, expressly for use in a Shelf Registration Statement (or any amendment thereto), any Prospectus
(or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or
supplement thereto), (B) use of a Prospectus during a period when use of such Prospectus has been
validly suspended pursuant to Section 2.5 hereof, provided that such Holder has received prior
notice of such suspension, (C) failure of such Holder to deliver a prospectus, as then amended or
supplemented, as required by applicable laws, provided that the Company shall have delivered to
such Holder such Prospectus, as then amended or supplemented, or (D) the gross negligence, willful
misconduct or bad faith of any such party seeking indemnification.
(b) Each Holder, severally, but not jointly, agrees to indemnify and hold harmless the
Company, the Initial Purchasers, each Underwriter, if any, and the other selling Holders, and each
of their respective directors and officers, and each Person, if any, who controls the Company, the
Initial Purchasers, any Underwriter or any other selling Holder within the meaning of Section 15 of
the 1933 Act or Section 20 of the 1934 Act, against any and all loss, liability, claim, damage and
expense described in the indemnity contained in Section 4(a) hereof, as incurred and documented,
but only with respect to untrue statements or omissions, or alleged untrue statements or omissions,
made in the Shelf Registration Statement (or any amendment thereto) or any Prospectus included
therein (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus in reliance
upon and in conformity with written information with respect to such Holder furnished to the
Company by or on behalf of such Holder expressly for use in the Shelf Registration Statement (or
any amendment thereto) or such Prospectus (or any amendment or supplement thereto) or any Issuer
Free Writing Prospectus; provided, however, that no such Holder shall be liable for any claims
hereunder in excess of the amount of net proceeds received by such Holder from the sale of
Registrable Securities pursuant to such Shelf Registration Statement.
(c) Each indemnified party shall give notice as promptly as reasonably practicable to each
indemnifying party of any action or proceeding commenced against it in respect of which indemnity
may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such
indemnifying party from any liability hereunder to the extent it is not materially prejudiced as a
result thereof and in any event shall not relieve it from any liability
which it may have otherwise than on account of this indemnity agreement. In case any such
action, claim, suit, investigation or proceeding shall be brought against any indemnified party and
it shall notify the Company of the commencement thereof, the Company shall be entitled to
participate therein and to assume the defense thereof; provided, however, that in the event that
any such action, claim, suit, investigation or proceeding includes both an indemnified party and
the Company, and such indemnified party reasonably concludes that there may be legal defenses
available to it or other indemnified parties that are different from or in addition to those
available to the Company, or if the Company fails to assume the defense of the action, claim, suit,
investigation or proceeding, in either case in a timely manner, then such indemnified party may
employ separate counsel to represent or defend it in any such action, claim, suit, investigation or
proceeding and the Company will pay the reasonable fees and disbursements of such counsel;
provided, further, that the Company will not be required to pay the fees and disbursements of
17
more
than one counsel for all indemnified parties (and one separate local counsel). In any action,
claim, suit, investigation or proceeding the defense of which the Company assumes, the indemnified
party will have the right to participate in such litigation and to retain its own counsel at such
indemnified party’s own expense. No indemnifying party shall (i) without the prior written consent
of the indemnified parties (which consent shall not be unreasonably withheld), settle or compromise
or consent to the entry of any judgment with respect to any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in
respect of which indemnification or contribution could be sought under this Section 4 (whether or
not the indemnified parties are actual or potential parties thereto), unless such settlement,
compromise or consent (A) includes an unconditional release of each indemnified party from all
liability arising out of such litigation, investigation, proceeding or claim and (B) does not
include a statement as to or an admission of fault, culpability or a failure to act by or on behalf
of any indemnified party or (ii) be liable for any settlement of any such action effected without
its prior written consent (which consent shall not be unreasonably withheld).
(d) Notwithstanding clause (ii) of Section 4(c), if at any time an indemnified party
shall
have requested an indemnifying party to reimburse the indemnified party for fees and expenses of
counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature
contemplated by Section 4(a)(ii) effected without its written consent if (i) such settlement is
entered into more than 45 days after receipt by such indemnifying party of the aforesaid request,
(ii) such indemnifying party shall have received notice of the terms of such settlement at least 30
days prior to such settlement being entered into and (iii) such indemnifying party shall not have
reimbursed such indemnified party in accordance with such request prior to the date of such
settlement.
(e) If the indemnification provided for in this Section 4 is for any reason unavailable to
or
insufficient to hold harmless an indemnified party in respect of any losses, liabilities, claims,
damages or expenses referred to therein, then each indemnifying party shall contribute to the
aggregate amount of such losses, liabilities, claims, damages and expenses incurred by such
indemnified party, as incurred, in such proportion as is appropriate to reflect the relative fault
of the Company on the one hand and the Holders and the Initial Purchasers on the other hand in
connection with the statements or omissions which resulted in such losses, liabilities, claims,
damages or expenses, as well as any other relevant equitable considerations.
The relative fault of the Company on the one hand and the Holders and the Initial Purchasers
on the other hand shall be determined by reference to, among other things, whether any such untrue
or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information supplied by the Company, or by the Holders or the Initial Purchasers
and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.
The Company, the Holders and the Initial Purchasers agree that it would not be just and
equitable if contribution pursuant to this Section 4 were determined by pro rata allocation or by
any other method of allocation which does not take account of the equitable considerations referred
to above in this Section 4. The aggregate amount of losses, liabilities, claims, damages and
expenses incurred and documented by an indemnified party and referred to
18
above in this Section 4
shall be deemed to include any legal or other expenses reasonably incurred by such indemnified
party in investigating, preparing or defending against any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any such untrue or alleged untrue statement or omission or alleged omission.
Notwithstanding the provisions of this Section 4, no Initial Purchaser shall be required to
contribute any amount in excess of the amount by which the total price at which the Securities sold
by it were offered exceeds the amount of any damages which such Initial Purchaser has otherwise
been required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission.
No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
0000 Xxx) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation.
For purposes of this Section 4, each Person, if any, who controls the Initial Purchasers or
any Holder within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall
have the same rights to contribution as the Initial Purchasers or the Holder, and each director of
the Company, and each Person, if any, who controls the Company within the meaning of Section 15 of
the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the
Company. The obligations of the Company, the Initial Purchasers and the Holders pursuant to this
Section 4 shall be in addition to any liability that such party may otherwise have.
5. Miscellaneous.
5.1 Rule 144 and Rule 144A. During the Effectiveness Period, for so long as the Company
is subject to the reporting requirements of Section 13 or 15(d) of the 1934 Act, the Company
covenants that it will file the reports required to be filed by it under Section 13 of 15(d)
of the 1934 Act and the rules and regulations adopted by the SEC thereunder. If during the
Effectiveness Period the Company ceases to be so required to file such reports, the Company
covenants that it will upon the request of any Holder
of Registrable Securities (a) make publicly available such information as is necessary to permit
sales pursuant to Rule 144 under the 1933 Act, (b) deliver such information to a prospective
purchaser as is necessary to permit sales pursuant to Rule 144A under the 1933 Act and it will take
such further action as any Holder of Registrable Securities may reasonably request for such
purpose, and (c) take such further action that is reasonable in the circumstances, in each case, to
the extent required from time to time to enable such Holder to sell its Registrable Securities
without registration under the 1933 Act within the limitation of the exemptions provided by (i)
Rule 144 under the 1933 Act, as such Rule may be amended from time to time, (ii) Rule 144A under
the 1933 Act, as such Rule may be amended from time to time, or (iii) any similar rules or
regulations hereafter adopted by the SEC. During the Effectiveness Period, upon the request of any
Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to
whether it has complied with such requirements.
19
5.2 No Inconsistent Agreements. The Company has not entered into and the Company shall
not, after the date of this Agreement, enter into any agreement which is inconsistent in any
material respect with the rights granted to the Holders of Registrable Securities in this
Agreement or otherwise conflicts with the provisions hereof. The rights granted to the
Holders hereunder do not and will not for the term of this Agreement in any way conflict with
the rights granted to the holders of any of the Company’s other issued and outstanding
securities under any such agreements.
5.3 No Adverse Actions Affecting Registration Rights. Subject to the rights of the
Company to invoke and maintain a Suspension Period, the Company shall not, directly or
indirectly, intentionally take any action with respect to the Registrable Securities as a
class that would adversely affect the ability of the Holders of Registrable Securities to
include such Registrable Securities in a registration undertaken pursuant to this Agreement.
5.4 Amendments and Waivers. The provisions of this Agreement, including the provisions
of this sentence, may not be amended, modified or supplemented, and waivers or consents to
departures from the provisions hereof may not be given unless the Company has obtained the
written consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities (with Holders of Notes that constitute Registrable
Securities deemed to be the Holders, for purposes of this Section 5.4, of the number of
outstanding shares of Common Stock into which such Registrable Securities are or could be
convertible on the date that consent would be required) affected by such amendment,
modification, supplement, waiver or departure. Notwithstanding the foregoing, this Agreement
may be amended by a written agreement between the Company and the Initial Purchasers, without
the consent of the Holders of the Registrable Securities, in order to cure any ambiguity or to
correct or supplement any provision contained herein, provided that no such amendment shall
adversely affect in any material respect the interest of the Holders of Registrable
Securities. Each Holder of Registrable Securities outstanding at the time of any amendment,
modification, waiver or consent pursuant to this Section 5.4, shall be bound by such
amendment, modification, waiver or consent, whether or not any notice or writing indicating
such amendment, modification, waiver or consent is delivered to such Holder.
5.5 Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand delivery, registered first-class mail, facsimile, or any
courier guaranteeing overnight delivery (a) if to a Holder, at the most current address given
by such Holder to the Company in a Questionnaire or by means of a notice given in accordance
with the provisions of this Section 5.5, which address initially is the address set forth in
the Purchase Agreement with respect to Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, as
representative of the Initial Purchasers (the “Representative”); and (b) if to the Company,
initially at the Company’s address set forth in the Purchase Agreement, and thereafter at such
other address of which notice is given in accordance with the provisions of this Section 5.5.
All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; two business days after being deposited in the mail,
postage prepaid, if mailed; when receipt is acknowledged, if sent by facsimile; and on the next
business day if timely delivered to an overnight courier.
20
Copies of all such notices, demands, or other communications shall be concurrently delivered
by the person giving the same to the Trustee under the Indenture, at the address specified in such
Indenture.
5.6 Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each of the parties, including, without
limitation and without the need for an express assignment, subsequent Holders; provided that
nothing herein shall be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture.
If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether
by operation of law or otherwise, such Registrable Securities shall be held subject to all of
the terms of this Agreement, and by taking and holding such Registrable Securities such person
shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and
provisions of this Agreement, including the restrictions on resale set forth in this Agreement
and, if applicable, the Purchase Agreement, and such person shall be entitled to receive the
benefits hereof.
5.7 Third Party Beneficiaries. The Initial Purchasers (even if the Initial Purchasers
are not Holders of Registrable Securities) shall be third party beneficiaries to the
agreements made hereunder between the Company, on the one hand, and the Holders, on the other
hand, and shall have the right to enforce such agreements directly to the extent they deem
such enforcement necessary or advisable to protect their rights or the rights of Holders
hereunder. Each Holder of Registrable Securities shall be a third party beneficiary to the
agreements made hereunder between the Company, on the one hand, and the Initial Purchasers, on
the other hand, and shall have the right to enforce such agreements directly to the extent it
deems such enforcement necessary or advisable to protect its rights hereunder.
5.8 Specific Enforcement. Without limiting the remedies available to the Initial Purchasers and the Holders, the Company
acknowledges that any failure by the Company to comply with its obligations under Section 2.1
hereof may result in material irreparable injury to the Initial Purchasers or the Holders for which
there is no adequate remedy at law, that it may not be possible to measure damages for such
injuries precisely and that, in the event of any such failure, the Initial Purchasers or any Holder
may seek such relief as may be required to specifically enforce the Company’s obligations under
Section 2.1 hereof.
5.9 Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to
be an original and all of which taken together shall constitute one and the same agreement.
5.10 Headings. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.
5.11 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS
21
PRINCIPLES THAT WOULD
RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK.
5.12 Severability. In the event that any one or more of the provisions contained herein,
or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.
5.13 Entire Agreement. This Agreement is intended by the parties as a final expression of
their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. There
are no restrictions, promises, warranties or undertakings, other than those set forth or
referred to herein with respect to the registration rights granted by the Company with respect
to the Registrable Securities. This Agreement supersedes all prior agreements and
understandings between the parties with respect to such subject matter.
22
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.
TEKTRONIX, INC. | ||||||
By | /s/ XXXXX X. XXXXXX | |||||
Name: Xxxxx X. Xxxxxx | ||||||
Title: Senior Vice President, General Counsel, and Secretary |
Confirmed and accepted as
of the date first above written:
of the date first above written:
XXXXXXX LYNCH, PIERCE,
XXXXXX & XXXXX INCORPORATED
XXXXXX & XXXXX INCORPORATED
By: |
/s/ XXXXXXX X. XXXXXX | ||||||
Name: | Xxxxxxx Xxxxxx | ||||||
Title: | Vice President |
As Representative of the Initial Purchasers
listed on Schedule A to the Purchase Agreement
listed on Schedule A to the Purchase Agreement