REGISTRATION RIGHTS AGREEMENT Dated as of March 16, 2007 by and among GENERAL NUTRITION CENTERS, INC. and
Exhibit 4.14
EXECUTION VERSION
Dated as of March 16, 2007
by and among
by and among
GENERAL NUTRITION CENTERS, INC.
and
X.X. XXXXXX SECURITIES INC.
XXXXXXX, SACHS & CO.
XXXXXX BROTHERS
XXXXXXX, SACHS & CO.
XXXXXX BROTHERS
This Registration Rights Agreement (this “Agreement”) is made and entered into as of
March 16, 2007, by and among General Nutrition Centers, Inc., a Delaware corporation (the
“Company”); and X.X. Xxxxxx Securities Inc., Xxxxxxx, Xxxxx & Co. and Xxxxxx Brothers
(each, an “Initial Purchaser” and, collectively, the “Initial Purchasers”), each of
whom has agreed to purchase the Company’s Senior Subordinated Notes due 2015 (the “Initial
Notes”) pursuant to the Purchase Agreement (as defined below).
This
Agreement is made pursuant to the Purchase Agreement, dated
March 16, 2007 (the
“Purchase Agreement”), by and among the Company and the Initial Purchasers. In order to
induce the Initial Purchasers to purchase the Initial Notes, the Company has agreed to provide the
registration rights set forth in this Agreement. The execution and delivery of this Agreement is a
condition to the respective obligations of the Initial Purchasers set forth in Section 6 of the
Purchase Agreement. Capitalized terms used herein and not otherwise defined shall have the meaning
assigned to them in the Indenture, dated as of March , 2007, between the Company and
LaSalle Bank National Association, as trustee, relating to the Initial Notes and the Exchange Notes (the
“Indenture”).
The parties hereby agree as follows:
SECTION 1. DEFINITIONS
As used in this Agreement, the following capitalized terms shall have the following meanings:
Act: The Securities Act of 1933, as amended.
Affiliate: As defined in Rule 144 of the Act.
Broker-Dealer: Any broker or dealer registered under the Exchange Act.
Business Day: Any day other than a Saturday, a Sunday or a day on which banking
institutes in The City of New York or at a place of payment are authorized by law, regulation or
executive order to remain closed.
Closing Date: The date hereof.
Commission: The Securities and Exchange Commission.
Consummate: An Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of the delivery by the Company to the Registrar under the Indenture
of Exchange Notes in the same aggregate principal amount as the aggregate principal amount of
Initial Notes tendered by Holders thereof pursuant to the Exchange Offer.
Consummation Deadline: As defined in Section 3(b) hereof.
Effectiveness Deadline: As defined in Sections 3(a) and 4(a) hereof.
Exchange Act: The Securities Exchange Act of 1934, as amended.
Exchange Notes: The Company’s Senior Subordinated Notes due 2015 to be issued
pursuant to the Indenture: (i) in the Exchange Offer or (ii) as contemplated by Section 4 hereof.
Exchange Offer: The exchange and issuance by the Company of a principal amount of
Exchange Notes (which shall be registered pursuant to the Exchange Offer Registration Statement)
equal to the outstanding principal amount of Initial Notes that are properly tendered and not
withdrawn by such Holders in connection with such exchange and issuance, as required by the terms
of this Agreement.
Exchange Offer Registration Statement: The Registration Statement relating to the
Exchange Offer, (i) that is filed pursuant to the provisions of this Agreement, (ii) including the
Prospectus included therein, and (iii) including all amendments and supplements thereto (including
post-effective amendments) and all exhibits and material incorporated by reference therein.
Filing Deadline: As defined in Sections 3(a) and 4(a) hereof.
Free Writing Prospectus: Each free writing prospectus (as defined in Rule 405 under
the Securities Act) prepared by or on behalf of the Company or used or referred to by the Company
in connection with the sale of the Initial Notes.
Holders: As defined in Section 2 hereof.
Issuer Information: As defined in Section 8(a) hereof.
Prospectus: The prospectus included in a Registration Statement at the time such
Registration Statement is declared effective, as amended or supplemented by any prospectus
supplement and by all other amendments thereto, including post-effective amendments, and all
material incorporated by reference into such Prospectus.
Recommencement Date: As defined in Section 6(d) hereof.
Registration Default: As defined in Section 5 hereof.
Registration Statement: The Exchange Offer Registration Statement or the Shelf
Registration Statement, as applicable.
Rule 144: Rule 144 promulgated under the Act.
Shelf Registration Statement: As defined in Section 4 hereof.
Suspension Notice: As defined in Section 6(d) hereof.
Suspension Period: The period of time (a) that the Company may delay filing and
distributing (i) a post-effective amendment to (x) the Shelf Registration Statement or (y) after
the date on which the Exchange Offer is Consummated, the Exchange Offer Registration Statement that
is required to be effective to permit resales of Exchange Notes by Broker-Dealers as contemplated
by Section 3(c) below or (ii) a supplement to any related Prospectus so that, as
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thereafter delivered to Holders or purchasers of Transfer Restricted Securities, the
Prospectus will not contain an untrue statement of a material fact or omit to state any material
fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading if the Company determines reasonably and
in good faith that compliance with the disclosure obligations necessary to maintain the
effectiveness of such Registration Statement at such time would reasonably be expected to have a
material adverse effect on the Company or a pending financing, acquisition, disposition, merger or
other material corporate transaction involving the Company or any of its subsidiaries (it being
understood that, in the case of this clause (a), the Company shall be required to proceed in good
faith to amend such Registration Statement or supplement to such related Prospectus to describe
such events or to otherwise cause such Registration Statement to become effective and the related
Prospectus to again be usable at such time as so doing would not have such a material adverse
effect), or (b) when (i) the Shelf Registration Statement or (ii) after the date on which the
Exchange Offer is Consummated, the Exchange Offer Registration Statement that is required to remain
effective to permit resales of Exchange Notes by Broker-Dealers as contemplated by Section 3(c)
below, in each case, ceases to be effective or any related Prospectus is not usable solely because
the Company filed a post-effective amendment to any such Registration Statement to include annual
audited financial information with respect to the Company and such post-effective amendment is not
yet effective and needs to be declared effective to permit Holders to use the related Prospectus
(it being understood that, in the case of this clause (b), the Company shall be required to use its
commercially reasonable efforts to cause any such post-effective amendment to become effective as
soon as practicable); provided that such Suspension Periods shall not occur more than 45
consecutive days, or more than 75 days in the aggregate; and provided further that upon the
termination of such Suspension Period, the Company shall promptly advise each Holder and purchaser
and, if requested by any such person, confirm such advice in writing that such Suspension Period
has been terminated.
TIA: The Trust Indenture Act of 1939 (15 U.S.C. Section 77aaa-77bbbb) as in effect on
the date of the Indenture.
Transfer Restricted Securities: Each Initial Note until the earliest to occur of (a)
the date on which such Initial Note has been exchanged in the Exchange Offer by a Person other than
a Broker-Dealer for an Exchange Note entitled to be resold to the public by the Holder thereof
without complying with the prospectus delivery requirements of the Act, (b) following the exchange
by a Broker-Dealer in the Exchange Offer of an Initial Note for an Exchange Note, the date on which
such Exchange Note is sold to a purchaser who receives from such Broker-Dealer on or prior to the
date of such sale a copy of the Prospectus contained in the Exchange Offer Registration Statement,
(c) the date on which such Initial Note has been effectively registered under the Act and disposed
of in accordance with the Shelf Registration Statement (and the purchasers thereof have been issued
Exchange Notes) or (d) the date on which such Initial Note is distributed to the public pursuant to
Rule 144.
SECTION 2. HOLDERS
A Person is deemed to be a holder of Transfer Restricted Securities (each, a “Holder”)
whenever such Person owns Transfer Restricted Securities.
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SECTION 3. REGISTERED EXCHANGE OFFER
(a) Unless the Exchange Offer shall not be permitted by applicable law or Commission policy
(after the procedures set forth in Section 6(a)(i) below have been complied with), the Company
shall (i) cause the Exchange Offer Registration Statement to be filed with the Commission no later
than 120 days after the Closing Date (such 120th day being the “Filing Deadline”), and (ii)
use all commercially reasonable efforts to cause such Exchange Offer Registration Statement to
become effective no later than 210 days after the Closing Date (such 210th day being the
“Effectiveness Deadline”). The Exchange Offer shall be on the appropriate form permitting
(i) registration of the Exchange Notes to be offered in exchange for the Initial Notes that are
Transfer Restricted Securities and (ii) resales of Exchange Notes by Broker-Dealers that tendered
into the Exchange Offer Initial Notes that such Broker-Dealer acquired for its own account as a
result of market-making activities or other trading activities (other than Initial Notes acquired
directly from the Company or any of its Affiliates) as contemplated by Section 3(c) below.
(b) The Company shall use all commercially reasonable efforts to cause the Exchange Offer
Registration Statement to be effective continuously, and shall keep the Exchange Offer open for a
period of not less than the minimum period required under applicable federal and state securities
laws to Consummate the Exchange Offer; provided, however, that in no event shall such period be
less than 20 Business Days. The Company shall cause the Exchange Offer to comply with all
applicable federal and state securities laws. No securities other than the Exchange Notes shall be
included in the Exchange Offer Registration Statement. The Company shall use all commercially
reasonable efforts to cause the Exchange Offer to be Consummated on the earliest practicable date
after the Exchange Offer Registration Statement has become effective, but in no event later than 30
Business Days thereafter, or longer, if required by the federal securities laws (such 30th (or
longer) day being the “Consummation Deadline”).
(c) The Company shall include a “Plan of distribution” section in the Prospectus contained in
the Exchange Offer Registration Statement and indicate therein that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for the account of such Broker-Dealer as a result
of market-making activities or other trading activities (other than Initial Notes acquired directly
from the Company or any Affiliate of the Company), may exchange such Transfer Restricted Securities
pursuant to the Exchange Offer. Such “Plan of Distribution” section shall also contain all other
information with respect to such sales by such Broker-Dealers that the Commission may require in
order to permit such sales pursuant thereto, but such “Plan of Distribution” shall not name any
such Broker-Dealer or disclose the amount of Transfer Restricted Securities held by any such
Broker-Dealer, except to the extent required by the Commission as a result of a change in policy,
rules or regulations after the date of this Agreement. See the Shearman & Sterling
no-action letter (available July 2, 1993).
Because such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Act
and must, therefore, deliver a prospectus meeting the requirements of the Act in connection with
its initial sale of any Exchange Notes received by such Broker-Dealer in the Exchange Offer, the
Company shall permit the use of the Prospectus contained in the Exchange Offer Registration
Statement by such Broker-Dealer to satisfy such prospectus delivery requirement. To the extent
necessary to ensure that the Prospectus contained in the Exchange
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Offer Registration Statement is available for sales of Exchange Notes by Broker-Dealers, the
Company agrees to use all commercially reasonable efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented, amended and current as required by and subject to
the provisions of Sections 6(a) and (c) hereof and subject to any applicable Suspension Period and
in conformity with the requirements of this Agreement, the Act and the policies, rules and
regulations of the Commission as announced from time to time, for a period of 180 days from the
date on which the Exchange Offer is Consummated or such shorter period ending on the date when all
Transfer Restricted Securities covered by such Registration Statement have been sold pursuant
thereto; provided, however, that if the Exchange Offer Registration Statement ceases to be
effective during any Suspension Period, such 180-day period shall be extended by the number of days
such Suspension Period continued. The Company shall provide sufficient copies of the latest
version of such Prospectus to such Broker-Dealers, promptly upon request, and in no event later
than two Business Days after such request, at any time during such period.
SECTION 4. SHELF REGISTRATION
(a) Shelf Registration. If (i) the Company is not (A) required to file the Exchange
Offer Registration Statement or (B) permitted to Consummate the Exchange Offer because the Exchange
Offer is not permitted by applicable law or Commission policy (after the Company has complied with
the procedures set forth in Section 6(a)(i) below) or (ii) any Holder of Transfer Restricted
Securities notifies the Company prior to 20 Business Days following Consummation of the Exchange
Offer (but not prior to the filing of the Exchange Offer Registration Statement) that (A) such
Holder was prohibited by law or Commission policy from participating in the Exchange Offer, (B)
such Holder may not resell the Exchange Notes acquired by it in the Exchange Offer to the public
without delivering a prospectus and the Prospectus contained in the Exchange Offer Registration
Statement is not appropriate or available for such resales by such Holder or (C) such Holder is a
Broker-Dealer and holds Initial Notes acquired directly from the Company or any of its Affiliates,
then the Company shall:
(x) use all commercially reasonable efforts on or prior to 90 days after the earlier of (i)
the date as of which the Company determines that the Exchange Offer Registration Statement will not
be or cannot be, as the case may be, filed as a result of clause (a)(i) above and (ii) the date on
which the Company receives the notice specified in clause (a)(ii) above (90 days after such earlier
date, the “Filing Deadline”), to file a shelf registration statement pursuant to Rule 415
under the Act (which may be an amendment to the Exchange Offer Registration Statement (including
the Prospectus included therein and all amendments and supplements thereto (including
post-effective amendments) and all exhibits and material incorporated by reference therein, the
“Shelf Registration Statement”)), relating to all Transfer Restricted Securities, and
(y) use all commercially reasonable efforts to cause such Shelf Registration Statement to
become effective on or prior to 90 days after the Filing Deadline for the Shelf Registration
Statement (such 90th day, the “Effectiveness Deadline”).
If, after the Company has filed an Exchange Offer Registration Statement that satisfies the
requirements of Section 3(a) above, the Company is required to file and make effective a Shelf
Registration Statement solely because the Exchange Offer is not permitted under
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applicable federal law (i.e., clause (a)(i)(B) above), then the filing of the Exchange Offer
Registration Statement shall be deemed to satisfy the requirements of clause (x) above; provided
that, in such event, the Company shall remain obligated to meet the Effectiveness Deadline set
forth in clause (y).
To the extent necessary to ensure that the Shelf Registration Statement is available for sales
of Transfer Restricted Securities by the Holders thereof entitled to the benefit of this Section
4(a) and the other securities required to be registered therein pursuant to Section 6(b)(ii)
hereof, the Company shall use all commercially reasonable efforts to keep any Shelf Registration
Statement required by this Section 4(a) continuously effective, supplemented, amended and current
as required by and subject to the provisions of Sections 6(b) and (c) hereof and subject to any
Suspension Period and in conformity with the requirements of this Agreement, the Act and the
policies, rules and regulations of the Commission as announced from time to time, for a period of
two years (as extended pursuant to Section 6(d) hereof) following the Closing Date, or such shorter
period as will terminate when all Transfer Restricted Securities covered by such Shelf Registration
Statement have been sold pursuant thereto or when all Initial Notes or Exchange Notes cease to be
Transfer Restricted Securities.
(b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer
Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and
until such Holder furnishes to the Company in writing, within 15 days after receipt of a request
therefor, the information specified in Item 507 or 508 of Regulation S-K, as applicable, of the
Act, or other information reasonably requested by the Company and required by Regulation S-K of the
Act, for use in connection with any Shelf Registration Statement or Prospectus or preliminary
prospectus included therein. No Holder of Transfer Restricted Securities shall be entitled to
special interest pursuant to Section 5 hereof unless and until such Holder shall have provided all
such information. Each selling Holder agrees to promptly furnish additional information required
to be disclosed in order to make the information previously furnished to the Company by such Holder
not materially misleading.
SECTION 5. SPECIAL INTEREST
If (i) any Registration Statement required by this Agreement is not filed with the Commission
on or prior to the applicable Filing Deadline, (ii) any such Registration Statement has not been
declared effective by the Commission on or prior to the applicable Effectiveness Deadline, (iii)
the Exchange Offer has not been Consummated on or prior to the Consummation Deadline or (iv) any
Registration Statement required by this Agreement is filed and declared effective but shall
thereafter cease to be effective or fail to be usable for its intended purpose, except during any
Suspension Period (each such event referred to in clauses (i) through (iv), a “Registration
Default”), then the Company hereby agrees to pay, subject to Section 4(b) hereof, to each
Holder of Transfer Restricted Securities affected thereby special interest in an amount equal to
0.25% per annum of the principal amount of Transfer Restricted Securities held by such Holder for
each day that the Registration Default continues for the first 90-day period immediately following
the occurrence of such Registration Default. The amount of the special interest shall increase by
an additional 0.25% per annum of the principal amount of Transfer Restricted Securities with
respect to each subsequent 90-day period until all Registration
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Defaults have been cured, up to a maximum amount of special interest equal to 1.00% per annum
of the principal amount of Transfer Restricted Securities; provided that the Company shall in no
event be required to pay special interest for more than one Registration Default at any given time.
Notwithstanding anything to the contrary set forth herein, (1) upon filing of the Exchange Offer
Registration Statement (and/or, if applicable, the Shelf Registration Statement), in the case of
(i) above, (2) upon the effectiveness of the Exchange Offer Registration Statement (and/or, if
applicable, the Shelf Registration Statement), in the case of (ii) above, (3) upon Consummation of
the Exchange Offer, in the case of (iii) above, or (4) upon the filing of a post-effective
amendment to the Registration Statement or an additional Registration Statement that causes the
Exchange Offer Registration Statement (and/or, if applicable, the Shelf Registration Statement) to
again be declared effective or made usable in the case of (iv) above, the special interest payable
with respect to the Transfer Restricted Securities as a result of such clause (i), (ii), (iii) or
(iv), as applicable, shall cease accruing.
All accrued special interest shall be paid to the Holders entitled thereto, in the manner
provided for the payment of interest in the Indenture, on each Interest Payment Date, as more fully
set forth in the Indenture and the Notes. Notwithstanding the fact that any securities for which
special interest are due cease to be Transfer Restricted Securities, all obligations of the Company
to pay special interest with respect to securities shall survive until such time as such
obligations with respect to such securities shall have been satisfied in full.
SECTION 6. REGISTRATION PROCEDURES
(a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the
Company, and in the case of clause (z)(ii) of this Section 6(a), each Holder (as applicable), shall
(x) comply with all applicable provisions of Section 6(c) below, (y) use all commercially
reasonable efforts to effect such exchange and to permit the resale of Exchange Notes by
Broker-Dealers that properly tendered in the Exchange Offer Initial Notes that such Broker-Dealer
acquired for its own account as a result of its market-making activities or other trading
activities (other than Initial Notes acquired directly from the Company or any of its Affiliates)
being sold in accordance with the intended method or methods of distribution thereof, and (z)
comply with all of the following provisions:
(i) If, following the date hereof there has been announced a change in Commission
policy with respect to exchange offers such as the Exchange Offer, that in the reasonable
opinion of counsel to the Company raises a substantial question as to whether the Exchange
Offer is permitted by applicable federal law, the Company hereby agrees either to (x) seek a
no-action letter or other favorable decision from the Commission allowing the Company to
Consummate an Exchange Offer for such Transfer Restricted Securities or (y) file, in
accordance with Section 4(a) hereof, a Shelf Registration Statement to permit the
registration and/or resale of the Transfer Restricted Securities that would otherwise be
covered by the Exchange Offer Registration Statement but for the announcement of a change in
Commission policy. In the case of clause (x) above, the Company hereby agrees to pursue the
issuance of such a decision to the Commission staff level, but shall not be required to take
commercially unreasonable actions in connection therewith. In connection with the
foregoing, the Company hereby agrees to take all such other reasonable actions as may be
requested by the Commission
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or otherwise required in connection with the issuance of such decision, including
without limitation (A) participating in telephonic conferences with the Commission, (B)
delivering to the Commission staff an analysis prepared by counsel to the Company setting
forth the legal bases, if any, upon which such counsel has concluded that such an Exchange
Offer should be permitted and (C) diligently pursuing a resolution (which need not be
favorable) by the Commission staff.
(ii) As a condition to its participation in the Exchange Offer, each Holder of Transfer
Restricted Securities (including, without limitation, any Holder who is a Broker-Dealer)
shall furnish, upon the request of the Company (which may be contained in the letter of
transmittal contemplated by the Exchange Offer Registration Statement), prior to the
Consummation of the Exchange Offer, a written representation to the Company (which may be
contained in the letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an Affiliate of the Company, (B) it is not
engaged in, and does not intend to engage in, and has no arrangement or understanding with
any person to participate in, a distribution of the Exchange Notes to be issued in the
Exchange Offer, (C) it is acquiring the Exchange Notes in its ordinary course of business
and (D) only if such Holder is a Broker-Dealer that will receive Exchange Notes in exchange
for Initial Notes that such Broker-Dealer acquired for its own account as a result of
market-making or other trading activities, it will deliver a Prospectus, as required by law,
in connection with any sale of such Exchange Notes. As a condition to its participation in
the Exchange Offer each Holder using the Exchange Offer to participate in a distribution of
the Exchange Notes shall acknowledge and agree that, if the resales are of Exchange Notes
obtained by such Holder in exchange for Initial Notes acquired directly from the Company or
an Affiliate thereof, it (1) could not, under Commission policy as in effect on the date of
this Agreement, rely on the position of the Commission enunciated in Xxxxxx Xxxxxxx and
Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation
(available May 13, 1988), as interpreted in the Commission’s letter to Shearman &
Sterling dated July 2, 1993, and similar no-action letters (including, if applicable,
any no-action letter obtained pursuant to clause (i) above), and (2) must comply with the
registration and prospectus delivery requirements of the Act in connection with a secondary
resale transaction and that such a secondary resale transaction must be covered by an
effective registration statement containing the selling security holder information required
by Item 507 or 508, as applicable, of Regulation S-K.
(iii) Prior to effectiveness of the Exchange Offer Registration Statement, the Company
shall, upon request of the Commission, provide a supplemental letter to the Commission (A)
stating that the Company is registering the Exchange Offer in reliance on the position of
the Commission enunciated in Exxon Capital Holdings Corporation (available May 13,
1988), Xxxxxx Xxxxxxx and Co., Inc. (available June 5, 1991) as interpreted in the
Commission’s letter to Shearman & Sterling dated July 2, 1993, and, if applicable,
any no-action letter obtained pursuant to clause (i) above, (B) including a representation
that the Company has not entered into any arrangement or understanding with any Person to
distribute the Exchange Notes to be received in the Exchange Offer and that, to the best of
the Company’s information and belief, each Holder participating in the Exchange Offer is
acquiring the Exchange Notes in its ordinary course of business
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and has no arrangement or understanding with any Person to participate in the
distribution of the Exchange Notes received in the Exchange Offer and (C) any other
undertaking or representation required by the Commission as set forth in any no-action
letter obtained pursuant to clause (i) above, if applicable.
(b) Shelf Registration Statement. In connection with the Shelf Registration Statement,
the Company shall:
(i) comply with all the provisions of Section 6(c) below and use all commercially
reasonable efforts to effect such registration to permit the sale of the Transfer Restricted
Securities being sold in accordance with the reasonable intended methods of distribution
thereof (as indicated in the information furnished to the Company pursuant to Section 4(b)
hereof), and pursuant thereto the Company will prepare and file with the Commission a
Registration Statement relating to the registration on any appropriate form under the Act,
which form shall be available for the sale of the Transfer Restricted Securities in
accordance with such reasonable intended methods of distribution thereof within the time
periods and otherwise in accordance with the provisions hereof; and
(ii) issue to any Holder or purchaser of Initial Notes covered by any Shelf
Registration Statement contemplated by this Agreement, upon the request of any such Holder
or purchaser, registered Initial Notes having an aggregate principal amount equal to the
aggregate principal amount of Initial Notes, in the names as such Holder or purchaser shall
designate.
(c) General Provisions. In connection with any Registration Statement and any related
Prospectus required by this Agreement, the Company shall:
(i) use all commercially reasonable efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements for the period
specified in Section 3 or 4 hereof, as applicable. Upon the occurrence of any event that
would cause any such Registration Statement or the Prospectus contained therein (A) to
contain an untrue statement of material fact or omit to state any material fact required to
be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading or (B) not to be effective and
usable for resale of Transfer Restricted Securities during the period required by this
Agreement, the Company shall file as soon as reasonably practicable, subject to any
applicable Suspension Period, an appropriate amendment to such Registration Statement to
cure such defect, and, if Commission review is required, use all commercially reasonable
efforts to cause such amendment to be declared effective as soon as practicable.
(ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep such Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as the
case may be; subject to any applicable Suspension Period, cause the Prospectus to be
supplemented by any required Prospectus supplement, and as so
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supplemented to be filed as and to the extent required pursuant to Rule 424 under the
Act, and to comply fully with Rules 424, 430A and 462, as applicable, under the Act in a
timely manner; and comply with the provisions of the Act with respect to the disposition of
all securities covered by such Registration Statement during the applicable period in
accordance with the reasonable intended methods of distribution by the sellers thereof set
forth in such Registration Statement or supplement to the Prospectus;
(iii) advise promptly (x) each Holder of Transfer Restricted Securities named in any
Shelf Registration Statement (each, a “Shelf Holder”) (solely to the extent the
provisions of this clause (iii) apply to a Shelf Registration Statement) and (y) each Holder
that is a Broker-Dealer that tendered into the Exchange Offer Initial Notes acquired by such
Broker-Dealer for its own account as a result of market-making activities or other trading
activities (solely to the extent the provisions of this clause (iii) apply to the Exchange
Offer Registration Statement), and, if requested by any such Holder, confirm such advice in
writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment
has been filed (other than any Prospectus supplement that names a Holder as a selling
securityholder therein and other than the first filing of the Prospectus included in the
Exchange Offer Registration Statement), and, with respect to any applicable Registration
Statement or any post-effective amendment thereto, when the same has become effective (other
than the initial effectiveness of the Exchange Offer Registration Statement), (B) of any
request by the Commission for amendments to the Registration Statement or amendments or
supplements to the Prospectus or for additional information relating thereto, (C) of the
issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement under the Act or of the suspension by any state securities commission
of the qualification of the Transfer Restricted Securities for offering or sale in any
jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of
the existence of any fact or the happening of any event that makes any statement of a
material fact made in the Registration Statement, the Prospectus, any amendment or
supplement thereto or any document incorporated by reference therein untrue, or that
requires the making of any additions to or changes in the Registration Statement in order to
make the statements therein not misleading, or that requires the making of any additions to
or changes in the Prospectus in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading and (E) of any Suspension Period.
If at any time the Commission shall issue any stop order suspending the effectiveness of the
Registration Statement, or any state securities commission or other regulatory authority
shall issue an order suspending the qualification or exemption from qualification of the
Transfer Restricted Securities under state securities or Blue Sky laws, the Company shall
use all commercially reasonable efforts to obtain the withdrawal or lifting of such order at
the earliest possible time;
(iv) subject to Section 6(c)(i), if any fact or event contemplated by Section
6(c)(iii)(D) above shall exist or have occurred, prepare as soon as reasonably practicable,
subject to any applicable Suspension Period, a supplement or post-effective amendment to the
Registration Statement or related Prospectus or any document incorporated therein by
reference or file any other required document so that, as thereafter delivered to the
purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue
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statement of a material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not
misleading;
(v) furnish to counsel for the Initial Purchasers provided in Section 7(b) and to each
Shelf Holder, in each case, in connection with such exchange or sale, if any, before filing
with the Commission, copies of any Registration Statement (in the case of such counsel) or
of any Shelf Registration Statement (in the case of any such Shelf Holder) or any Prospectus
included therein or any amendments or supplements to any such Registration Statement or
Prospectus (including, upon request, all documents incorporated by reference after the
initial filing of such Registration Statement), which documents will be subject to the
review and comment of such counsel or, if applicable, such Shelf Holders in connection with
such sale, if any, for a period of at least three Business Days, and the Company will
reasonably consider any comments timely provided by such counsel or, if applicable, any such
Shelf Holder; provided that the Company need not furnish (x) any amendment or supplement to
any Registration Statement that solely names a Holder as a selling securityholder therein or
(y) the first filing of the Exchange Offer Registration Statement; provided further,
however, that the Company shall furnish to any Shelf Holder any amendment or supplement to
an effective Shelf Registration Statement that names such Shelf Holder as a selling
securityholder therein;
(vi) upon request, prior to the filing of any document that is to be incorporated by
reference into a Registration Statement or Prospectus in connection with such exchange or
sale, if any, provide copies of such document to counsel for the Initial Purchasers provided
in Section 7(b) and, in connection with any Shelf Registration Statement, each Shelf Holder;
provided that this requirement shall not be applicable to any document to be filed by the
Company in connection with its periodic reporting requirements under the Exchange Act,
including with respect to reports to be filed on Form 8-K, Form 10-Q or Form 10-K;
(vii) in connection with any underwritten offering pursuant to a Shelf Registration
Statement, make available upon reasonable request, at reasonable times, for inspection by
Holders of at least 50% in aggregate principal amount of the Transfer Restricted Securities
covered by such Shelf Registration Statement (the “Majority Holders”) and any
attorney or accountant retained by such Holders solely for the purpose of conducting a due
diligence investigation in connection with such underwritten offering, all financial and
other records, pertinent corporate documents of the Company and cause the Company’s officers
and employees to supply all information reasonably requested by any such Majority Holders,
attorney or accountant in connection with such Shelf Registration Statement or any
post-effective amendment thereto subsequent to the filing thereof and prior to its
effectiveness; provided that any Holder or representative thereof requesting or receiving
such information shall agree to be bound by reasonable confidentiality agreements and
procedures with respect thereto;
(viii) if reasonably requested by any Holders in connection with such exchange or sale,
include in any Registration Statement or Prospectus, pursuant to a supplement or
11
post-effective amendment if necessary, such information as such Holders may reasonably
request to have included therein that is required by the federal securities laws to be so
included, including, without limitation, information relating to the “Plan of Distribution”
of the Transfer Restricted Securities; and make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after the Company is notified
of the matters to be included in such Prospectus supplement or post-effective amendment;
(ix) upon request, furnish to each Shelf Holder in connection with such registration or
sale, without charge, at least one copy of the Shelf Registration Statement, as first filed
with the Commission, and of each amendment thereto, including all documents incorporated by
reference therein and all exhibits (including exhibits incorporated therein by reference);
(x) upon request, deliver to each Holder without charge, as many copies of the
Prospectus (including each preliminary prospectus) and any amendment or supplement thereto
as such Persons reasonably may request; provided that any such copies shall only be provided
to (x) Shelf Holders and (y) Broker-Dealers in order to permit the use of the Prospectus
contained in the Exchange Offer Registration Statement by such Broker-Dealer to satisfy its
prospectus delivery requirement; the Company hereby consents to the use (in accordance with
and as required by law) of the Prospectus and any amendment or supplement thereto by each
selling Holder in connection with the offering and the sale of the Transfer Restricted
Securities covered by the Prospectus or any amendment or supplement thereto;
(xi) in connection with an underwritten offering pursuant to a Shelf Registration
Statement, upon the reasonable request of the Majority Holders, enter into such agreements
(including underwriting agreements) and make such representations and warranties and take
all such other actions in connection therewith in order to expedite or facilitate the
disposition of the Transfer Restricted Securities pursuant to any Shelf Registration
Statement contemplated by this Agreement. In such connection, the Company shall:
(A) upon the reasonable request of the Majority Holders, furnish (or in the
case of paragraphs (2) and (3), use all commercially reasonable efforts to cause to
be furnished), upon the consummation of such underwritten offering:
(1) to the Holders participating in such underwritten offering, a
certificate, dated such date, signed on behalf of the Company by (x) the
President or any Vice President and (y) a principal financial or accounting
officer of the Company, confirming, as of the date thereof, such matters as
the Majority Holders may reasonably request;
(2) to the Holders participating in such underwritten offering, an
opinion, dated the date of consummation of such underwritten offering, of
counsel for the Company in customary form and covering such matters
customarily provided to selling securityholders in an underwritten offering
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and such other matters as the Majority Holders may reasonably request;
and
(3) to each underwriter of such underwritten offering, a customary
comfort letter, dated the date of consummation of such underwritten
offering, from the Company’s independent accountants, in the customary form
and covering matters of the type customarily covered in comfort letters to
underwriters in connection with underwritten offerings; and
(B) deliver such other documents and certificates as may be reasonably
requested by the Majority Holders to evidence compliance with the matters covered in
clause (A) above and with any customary conditions contained in the any agreement
entered into by the Company pursuant to this clause (xi);
(xii) prior to any public offering of Transfer Restricted Securities pursuant to a
Shelf Registration Statement, cooperate with the Shelf Holders and their counsel in
connection with the registration and qualification of the Transfer Restricted Securities
under the securities or Blue Sky laws of such jurisdictions as the Shelf Holders may
reasonably request and do any and all other acts or things necessary or advisable to enable
the disposition in such jurisdictions of the Transfer Restricted Securities covered by the
applicable Registration Statement; provided, however, that the Company shall not be required
to register or qualify as a foreign corporation where it is not now so qualified or to take
any action that would subject it to the service of process in suits or to taxation, other
than as to matters and transactions relating to the Registration Statement, in any
jurisdiction where it is not now so subject;
(xiii) if certificated securities are permitted pursuant to the Indenture, in
connection with any sale of Transfer Restricted Securities that will result in such
securities no longer being Transfer Restricted Securities, cooperate with the Holders to
facilitate the timely preparation and delivery of certificates representing Transfer
Restricted Securities to be sold and not bearing any restrictive legends; and to register
such Transfer Restricted Securities in such denominations and such names as the selling
Holders may request at least two Business Days prior to such sale of Transfer Restricted
Securities;
(xiv) use all commercially reasonable efforts to cause the disposition of the Transfer
Restricted Securities covered by the Registration Statement to be registered with or
approved by such other governmental agencies or authorities as may be necessary to enable
the seller or sellers thereof to consummate the disposition of such Transfer Restricted
Securities, subject to the proviso contained in clause (xii) above;
(xv) provide a CUSIP number for all Transfer Restricted Securities not later than the
effective date of a Registration Statement covering such Transfer Restricted Securities and
provide the Trustee under the Indenture with printed global certificates for the Transfer
Restricted Securities which are in a form eligible for deposit with the Depository Trust
Company;
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(xvi) otherwise use all commercially efforts to comply with all applicable rules and
regulations of the Commission, including Rule 158 under the Act;
(xvii) cause the Indenture to be qualified under the TIA not later than the effective
date of the first Registration Statement required by this Agreement and, in connection
therewith, cooperate with the Trustee and the Holders to effect such changes to the
Indenture as may be required for such Indenture to be so qualified in accordance with the
terms of the TIA; and execute and use all commercially reasonable efforts to cause the
Trustee to execute, all documents that may be required to effect such changes and all other
forms and documents required to be filed with the Commission to enable such Indenture to be
so qualified in a timely manner; and
(xviii) not, and the Company’s agents and representatives shall not, prepare, make,
use, authorize, approve or refer to any Free Writing Prospectus.
(d) Restrictions on Holders. Each Holder agrees by acquisition of a Transfer
Restricted Security that, upon receipt of the notice referred to in Section 6(c)(iii)(C) or any
notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D)
hereof or of any applicable Suspension Period (in each case, a “Suspension Notice”), such
Holder will forthwith discontinue disposition of Transfer Restricted Securities pursuant to the
applicable Registration Statement until (i) such Holder has received copies of the supplemented or
amended Prospectus contemplated by Section 6(c)(iv) hereof, or (ii) such Holder is advised in
writing by the Company that the use of the Prospectus may be resumed, and has received copies of
any additional or supplemental filings that are incorporated by reference in the Prospectus (in
each case, the “Recommencement Date”). Each Holder receiving a Suspension Notice hereby
agrees that it will either (i) destroy any Prospectuses, other than permanent file copies, then in
such Holder’s possession which have been replaced by the Company with more recently dated
Prospectuses or (ii) deliver to the Company (at the Company’s expense) all copies, other than
permanent file copies, then in such Holder’s possession of the Prospectus covering such Transfer
Restricted Securities that was current at the time of receipt of the Suspension Notice. The time
period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4
hereof, as applicable, shall be extended by a number of days equal to the number of days in the
period from and including the date of delivery of the Suspension Notice to the Recommencement Date.
SECTION 7. REGISTRATION EXPENSES
(a) All expenses incident to the Company’s performance of or compliance with this Agreement
will be borne by the Company, regardless of whether a Registration Statement becomes effective,
including without limitation: (i) all registration and filing fees and expenses; (ii) all fees and
expenses of compliance with federal securities and state Blue Sky or securities laws; (iii) all
expenses of printing (including printing certificates for the Exchange Notes to be issued in the
Exchange Offer and printing of Prospectuses), messenger and delivery services and telephone; (iv)
all fees and disbursements of counsel for the Company and of one counsel for the Shelf Holders as a
group, as selected by the Majority Holders; (v) all application and filing fees in connection with
listing the Exchange Notes on a national securities exchange or automated quotation system pursuant
to the requirements hereof; and (vi) all fees and disbursements of
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independent certified public accountants of the Company (including any expenses of any special
audit and comfort letters required by or incident to such performance).
The Company will, in any event, bear its internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or accounting duties), the
expenses of any annual audit and the fees and expenses of any Person, including special experts,
retained by the Company.
(b) In connection with any Registration Statement required by this Agreement (including,
without limitation, the Exchange Offer Registration Statement and the Shelf Registration
Statement), the Company will reimburse the Initial Purchasers for the reasonable fees and
disbursements of not more than one counsel, who shall be Xxxxxx & Xxxxxxx LLP, unless another firm
shall be chosen by the Initial Purchasers.
SECTION 8. INDEMNIFICATION
(a) The Company agrees to indemnify and hold harmless each Holder, its directors, officers and
each Person, if any, who controls such Holder (within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act), from and against any and all losses, claims, damages, liabilities,
judgments, (including without limitation, any legal or other expenses incurred in connection with
investigating or defending any matter, including any action that could give rise to any such
losses, claims, damages, liabilities or judgments) caused by any untrue statement or alleged untrue
statement of a material fact contained in (i) any Registration Statement, preliminary prospectus or
Prospectus (or any amendment or supplement thereto), or caused by any omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements
therein (in the case of a preliminary prospectus or Prospectus or any supplement thereto, in the
light of the circumstances under which they were made) not misleading or (ii) any Free Writing
Prospectus used in violation of this Agreement or any “issuer information” (“Issuer
Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act,
or any omission or alleged omission to state therein a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading,
except insofar as such losses, claims, damages, liabilities or judgments are caused by an untrue
statement or omission or alleged untrue statement or omission that is based upon information
relating to any of the Holders furnished in writing to the Company by any of the Holders. In
addition, the Company shall not be liable to any Holder under the indemnity agreement in this
Section 8(a) to the extent, but only to the extent, that (1) such loss, claim, damage or liability
arises out of, or is based upon, an untrue statement of a material fact or an omission of a
material fact contained in any preliminary prospectus, which untrue statement or omission was
completely corrected in the Prospectus and (2) the Company sustains the burden of proving that such
Holder sold Transfer Restricted Securities to the person alleging such loss, claim, damage or
liability without sending or giving a copy of the Prospectus within the time required by the Act
and (3) the Company had previously furnished sufficient quantities of the Prospectus to such Holder
in such amounts and within such period of time as required under this Agreement and (4) such Holder
failed to deliver the Prospectus, if required by law to have so delivered it, and such delivery
would have been a complete defense against the person asserting such loss, claim, damage or
liability.
15
(b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Company, and its directors and officers who sign a Registration
Statement, and each person, if any, who controls (within the meaning of Section 15 of the Act or
Section 20 of the Exchange Act) the Company, to the same extent as the foregoing indemnity from the
Company set forth in Section 8(a) above, but only with reference to information relating to such
Holder furnished in writing to the Company by such Holder expressly for use in any Registration
Statement. In no event shall any Holder, its directors, officers or any Person who controls such
Holder be liable or responsible for any amount in excess of the amount by which the total amount
received by such Holder with respect to its sale of Transfer Restricted Securities pursuant to a
Registration Statement exceeds (i) the amount paid by such Holder for such Transfer Restricted
Securities and (ii) the amount of any damages that such Holder, its directors, officers or any
Person who controls such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission.
(c) In case any action shall be commenced involving any person in respect of which indemnity
may be sought pursuant to Section 8(a) or 8(b) (the “indemnified party”), the indemnified
party shall promptly notify the person against whom such indemnity may be sought (the
“indemnifying person”) in writing and the indemnifying party shall assume the defense of
such action, including the employment of counsel reasonably satisfactory to the indemnified party
and the payment of all reasonable fees and expenses of such counsel, as incurred (except that in
the case of any action in respect of which indemnity may be sought pursuant to both Sections 8(a)
and 8(b), a Holder shall not be required to assume the defense of such action pursuant to this
Section 8(c), but may employ separate counsel and participate in the defense thereof, but the fees
and expenses of such counsel, except as provided below, shall be at the expense of the Holder).
Any indemnified party shall have the right to employ separate counsel in any such action and
participate in the defense thereof, but the fees and expenses of such counsel shall be at the
expense of the indemnified party unless (i) the employment of such counsel shall have been
specifically authorized in writing by the indemnifying party, (ii) the indemnifying party shall
have failed to assume the defense of such action or employ counsel reasonably satisfactory to the
indemnified party or (iii) the named parties to any such action (including any impleaded parties)
include both the indemnified party and the indemnifying party, and the indemnified party shall have
been advised by such counsel that there may be one or more legal defenses available to it which are
different from or additional to those available to the indemnifying party (in which case the
indemnifying party shall not have the right to assume the defense of such action on behalf of the
indemnified party). In any such case, the indemnifying party shall not, in connection with any one
action or separate but substantially similar or related actions in the same jurisdiction arising
out of the same general allegations or circumstances, be liable for the fees and expenses of more
than one separate firm of attorneys (in addition to any local counsel) for all indemnified parties
and all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be
designated in writing by a majority of the Holders, in the case of the parties indemnified pursuant
to Section 8(a), and by the Company, in the case of parties indemnified pursuant to Section 8(b).
The indemnifying party shall indemnify and hold harmless the indemnified party from and against any
and all losses, claims, damages, liabilities and judgments by reason of any settlement of any
action (i) effected with its written consent or (ii) effected without its written consent if (a)
the settlement is entered into more than twenty Business Days after the indemnifying party received
a request from the indemnified party for reimbursement for the fees and expenses of counsel (in any
case where such fees and expenses
16
are at the expense of the indemnifying party), (b) such indemnifying party received notice of
the terms of such settlement at least 10 Business Days prior to such settlement being entered into
and (c) such indemnifying party did not reimburse such indemnified party in accordance with such
request prior to the date of such settlement; provided that an indemnifying party shall not be
liable for any such settlement effected without its consent if such indemnifying party, prior to
the date of such settlement, (1) reimburses such indemnified party in accordance with such request
for the amount of such fees and expenses of counsel as the indemnifying party believes in good
faith to be reasonable, and (2) provides written notice to the indemnified party that the
indemnifying party disputes in good faith the reasonableness of the unpaid balance of such fees and
expenses. No indemnifying party shall, without the prior written consent of the indemnified party,
effect any settlement or compromise of, or consent to the entry of judgment with respect to, any
pending or threatened action in respect of which the indemnified party is or could have been a
party and indemnity or contribution may be or could have been sought hereunder by the indemnified
party, unless such settlement, compromise or judgment (i) includes an unconditional release of the
indemnified party from all liability on claims that are or could have been the subject matter of
such action and (ii) does not include a statement as to or an admission of fault, culpability or a
failure to act, by or on behalf of the indemnified party.
(d) To the extent that the indemnification provided for in this Section 8 is unavailable to an
indemnified party in respect of any losses, claims, damages, liabilities or judgments referred to
therein, then each indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or judgments (i) in such proportion as is appropriate to reflect the
relative benefits received by the Company, on the one hand, and the Holders, on the other hand,
from their sale of Transfer Restricted Securities or (ii) if the allocation provided by clause
8(d)(i) above is not permitted by applicable law, in such proportion as is appropriate to reflect
not only the relative benefits referred to in clause 8(d)(i) above but also the relative fault of
the Company, on the one hand, and of the Holder, on the other hand, in connection with the
statements or omissions which resulted in such losses, claims, damages, liabilities or judgments,
as well as any other relevant equitable considerations. The relative fault of the Company, on the
one hand, and of the Holder, on the other hand, shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by the Company, on the
one hand, or by the Holder, on the other hand, and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission.
The Company and each Holder agree that it would not be just and equitable if contribution
pursuant to this Section 8(d) were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation which does not take
account of the equitable considerations referred to in the immediately preceding paragraph. The
amount paid or payable by an indemnified party as a result of the losses, claims, damages,
liabilities or judgments referred to in the immediately preceding paragraph shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such indemnified party in connection with investigating or defending any matter,
including any action that could have given rise to such losses, claims, damages, liabilities or
judgments. Notwithstanding the provisions of this Section 8, no Holder, its directors, its
officers or any Person, if any, who controls such Holder shall be required to contribute, in the
17
aggregate, any amount in excess of the amount by which the total received by such Holder with
respect to the sale of Transfer Restricted Securities pursuant to a Registration Statement exceeds
(i) the amount paid by such Holder for such Transfer Restricted Securities and (ii) the amount of
any damages which such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders’
obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective
principal amount of Transfer Restricted Securities held by each Holder hereunder and not joint.
SECTION 9. RULE 144A AND RULE 144
The Company agrees with each Holder, for so long as any Transfer Restricted Securities remain
outstanding and during any period in which the Company (i) is not subject to Section 13 or 15(d) of
the Exchange Act, to make available, upon request of any Holder, to such Holder or beneficial owner
of Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser
of such Transfer Restricted Securities designated by such Holder or beneficial owner, the
information required by Rule 144A(d)(4) under the Act in order to permit resales of such Transfer
Restricted Securities pursuant to Rule 144A under the Act, and (ii) is subject to Section 13 or 15
(d) of the Exchange Act, to make all filings required thereby in order to permit resales of such
Transfer Restricted Securities pursuant to Rule 144.
SECTION 10. MISCELLANEOUS
(a) Remedies. The Company acknowledges and agrees that any failure by the Company to
comply with its obligations under Sections 3 and 4 hereof may result in material irreparable injury
to the Initial Purchasers or the Holders for which there is no adequate remedy at law, that it will
not be possible to measure damages for such injuries precisely and that, in the event of any such
failure, any Initial Purchaser or any Holder may obtain such relief as may be required to
specifically enforce the Company’s obligations under Sections 3 and 4 hereof. The Company further
agrees to waive the defense in any action for specific performance that a remedy at law would be
adequate.
(b) No Inconsistent Agreements. The Company will not, on or after the date of this
Agreement, enter into any agreement with respect to its securities that is inconsistent with the
rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof.
The Company has not previously entered into any agreement granting any registration rights with
respect to its securities to any Person that would require such securities to be included in any
Registration Statement filed hereunder. The rights granted to the Holders hereunder do not in any
way conflict with and are not inconsistent with the rights granted to the holders of the Company’s
securities under any agreement in effect on the date hereof.
(c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to or departures from the provisions hereof may
not be given unless (i) in the case of Section 5 hereof and this Section 10(c)(i), the Company has
obtained the written consent of Holders of all outstanding Transfer
18
Restricted Securities and (ii) in the case of all other provisions hereof, the Company has
obtained the written consent of Holders of a majority of the outstanding principal amount of
Transfer Restricted Securities (excluding Transfer Restricted Securities held by the Company or its
Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions
hereof that relates exclusively to the rights of Holders whose Transfer Restricted Securities are
being tendered pursuant to the Exchange Offer, and that does not affect directly or indirectly the
rights of other Holders whose Transfer Restricted Securities are not being tendered pursuant to
such Exchange Offer, may be given by the Holders of a majority of the outstanding principal amount
of Transfer Restricted Securities subject to such Exchange Offer.
(d) Third Party Beneficiary. The Holders shall be third party beneficiaries to the
agreements made hereunder among the Company and the Initial Purchasers, and shall have the right to
enforce such agreements directly to the extent they may deem such enforcement necessary or
advisable to protect its rights or the rights of Holders hereunder.
(e) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail (registered or certified, return
receipt requested), telecopier or air courier guaranteeing overnight delivery:
(i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and
(ii) if to the Company:
GNC Parent Corporation
000 Xxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxxxxxx 00000
Telecopier No.: (000) 000-0000
Attention: Chief Legal Officer
000 Xxxxx Xxxxxx
Xxxxxxxxxx, Xxxxxxxxxxxx 00000
Telecopier No.: (000) 000-0000
Attention: Chief Legal Officer
With a copy to:
Gardere Xxxxx Xxxxxx LLP
3000 Thanksgiving Tower
0000 Xxx Xxxxxx
Xxxxx 0000
Xxxxxx, Xxxxx 00000-0000
Telecopier No.: (000) 000-0000
Attention: Xxxxxxx Xxx, Esq.
3000 Thanksgiving Tower
0000 Xxx Xxxxxx
Xxxxx 0000
Xxxxxx, Xxxxx 00000-0000
Telecopier No.: (000) 000-0000
Attention: Xxxxxxx Xxx, Esq.
All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the next Business Day,
if timely delivered to an air courier guaranteeing overnight delivery.
Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.
19
(f) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns 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 Transfer Restricted Securities
in violation of the terms hereof or of the respective Purchase Agreements or the Indenture. If any
transferee of any Holder shall acquire Transfer Restricted Securities in any manner, whether by
operation of law or otherwise, such Transfer Restricted Securities shall be held subject to all of
the terms of this Agreement, and by taking and holding such Transfer Restricted 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 respective Purchase Agreements, and such Person shall be entitled to
receive the benefits hereof.
(g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.
(h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.
(i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF NEW YORK, INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW.
(j) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.
(k) 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 with respect to the Transfer Restricted
Securities. This Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.
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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.
General Nutrition Centers, Inc. |
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By: | /s/ Xxxx X. Xxxxxxxx | |||
Name: | Xxxx X. Xxxxxxxx | |||
Title: | Senior Vice President, Chief Legal Officer and Secretary |
|||
X.X. Xxxxxx Securities Inc. For itself and on behalf of the several Initial Purchasers listed in Schedule 2 to the Purchase Agreement |
||||
By: | /s/
Xxxx X. Sell |
|||
Title: Executive Director |
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