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Exhibit 4.2
FIRST SUPPLEMENTAL INDENTURE,
dated as of January 20, 2005 (this “First Supplemental
Indenture”), between Albemarle Corporation, a Virginia
corporation (the “Company”), whose principal office is
located at 330 South Fourth Street, Richmond, Virginia 23219 and
The Bank of New York, a New York banking corporation, as trustee
(the “Trustee”).
W I T N E S S E T
H
WHEREAS, the Company and the
Trustee have duly executed and delivered an Indenture, dated as of
January 20, 2005 (the “Indenture”), providing for the
authentication, issuance, delivery and administration of unsecured
notes, debentures or other evidences of indebtedness to be issued
in one or more series by the Company (herein called a
“Security” or the “Securities”);
WHEREAS, pursuant to the
terms of the Indenture, the Company desires to provide for the
establishment of a series of Securities (the “Notes”)
to be issued under the Indenture in an initial aggregate principal
amount of $325,000,000, which may be authenticated and delivered as
provided in the Indenture;
WHEREAS, the Company desires
to amend and supplement the provisions of the Indenture to issue
the Notes under the terms of the Indenture as supplemented
hereby;
WHEREAS, Section 9.01 of the
Indenture expressly permits the Company and the Trustee to enter
into one or more supplemental indentures for the purposes, inter
alia , of establishing the forms and terms of Securities to be
issued under the Indenture, and permits the execution of such
supplemental indentures without the consent of the Holders of any
Securities then outstanding;
WHEREAS, for the purposes
hereinabove recited, and pursuant to due corporate action, the
Company has duly determined to execute and deliver to the Trustee
this First Supplemental Indenture; and
WHEREAS, all conditions and
requirements necessary to make this First Supplemental Indenture a
valid instrument in accordance with its terms have been done and
performed, and the execution and delivery hereof have been in all
respects duly authorized;
NOW, THEREFORE, in
consideration of the premises, the Company and the Trustee mutually
covenant and agree as follows:
SECTION 1.
DEFINITIONS.
1.1 All terms contained in
this First Supplemental Indenture shall, except as specifically
provided herein or except as the context may otherwise require,
have the meanings given to such terms in the Indenture.
1.2 Unless the context
otherwise requires, the following terms shall have the following
meanings:
“Depositary”
means The Depository Trust Company or any other depositary from
time to time specified with respect to the Notes pursuant to the
Indenture.
“Global Note
Legend” means the legend for the Global Securities
substantially in the form set forth in Section 2.04 of the
Indenture.
“Global Notes”
mean Notes constituting Global Securities substantially in the form
of Exhibit A hereto.
“Notes” shall
have the meaning given such term in the second
“Whereas” clause of this First Supplemental
Indenture.
SECTION 2. TERMS AND
CONDITIONS OF THE SECURITIES.
There is hereby authorized
the following series of Notes:
2.1 5.10% Senior Notes due
2015 .
(a) A new series of senior
unsecured Notes is hereby authorized and designated as the
“5.10% Senior Notes due 2015”.
(b) The 5.10% Senior Notes
due 2015 shall be issued in an initial aggregate principal amount
$325,000,000, subject to adjustment as described in the form of
Note attached hereto as Exhibit A. The Notes shall bear interest at
a rate of 5.10% per annum, shall mature on February 1, 2015 and
shall be subject to optional redemption at any time by the Company
pursuant to the terms set forth in the form of Note attached hereto
as Exhibit A.
(c) The Company shall be
permitted to amend this First Supplemental Indenture in order to
increase the aggregate principal amount of Notes that may be issued
hereunder without the consent of the Holders of the Notes or the
Securities of any series so affected. Any such additional Notes
will have the same terms as the Notes and will rank equal to the
Notes in all respects (or in all respects except for the payment of
interest accruing prior to the issue date of the additional Notes
or except in certain circumstances for the first payment of
interest following the issue) so that the additional Notes may be
consolidated and form a single series of Securities with the Notes
and have the same terms as to status, redemption and otherwise as
the Notes that are the subject of this First Supplemental
Indenture.
2.2 Form of Global
Notes . The Notes shall initially be issued in the form of
Global Notes (including the Global Note Legend thereon and the
“Schedule of Increases and Decreases in the Global
Note” attached thereto). Each Global Note shall represent
such of the outstanding Notes as shall be specified therein and
each shall provide that it shall represent the aggregate principal
amount of outstanding Notes from time to time endorsed thereon and
that the aggregate principal amount of outstanding Notes
represented thereby may from time to time be reduced to reflect any
redemptions and be increased to reflect the issuance of any
additional Notes. Any endorsement of a Global Note to reflect the
amount of any decrease or increase in
2
the aggregate principal amount of
outstanding Notes represented thereby shall be made by the Trustee,
as custodian of the Global Notes.
2.3 Paying Agent and
Security Registrar . The Company hereby appoints the Trustee as
initial Paying Agent and Security Registrar for the Notes and the
Trustee hereby accepts such appointments.
2.4 Security Register and
Office or Agency Pursuant to Section 10.02 of the Indenture.
Pursuant to Section 3.05 of the Indenture, the Company shall
maintain the Security Register in the City of New York, Borough of
Manhattan, at the office designated from time to time by the
Trustee, which will initially be the office of the Trustee located
at 101 Barclay Street, Floor 7E, New York, New York 10286, and
which shall also be the office or agency designated in accordance
with Section 10.02 of the Indenture.
2.5 Procedures Regarding
Optional Redemption. Under and pursuant to the Notes, the
Company has been granted the option to redeem the Notes, in whole
or in part, at ay time at a redemption price specified in the form
of Note attached hereto as Exhibit A. If the Company exercises its
option to redeem the Notes, it hereby agrees to (i) upon request by
the Trustee, promptly consult with the Trustee regarding the
employment of an Independent Investment Banker (as defined in the
Notes), (ii) provide to the Trustee the Company Order and notice
specified by Section 11.02 of the Indenture, (iii) obtain from each
of the required Reference Treasury Dealers (as defined in the
Notes) the Referenced Treasury Dealer Quotations (as defined in the
Notes) and furnish such to the Trustee, and (iv) upon receiving
from the Trustee the Comparable Treasury Price (as defined in the
Notes), to provide to the Trustee on or before the first Business
Day preceding such redemption date the calculation of the
Redemption Price to be paid on the Notes being redeemed. In that
regard, the Trustee agrees to furnish to the Company on or before
the second Business Day preceding the redemption date the
Comparable Treasury Price.
SECTION 3.
MISCELLANEOUS.
3.1 Ratification of
Indenture . The Indenture, as supplemented by this First
Supplemental Indenture, is in all respects ratified and confirmed,
and this First Supplemental Indenture shall be deemed a part of the
Indenture in the manner and to the extent herein and therein
provided.
3.2 GOVERNING LAW .
This First Supplemental Indenture and each Note shall be governed
by, and construed in accordance with, the laws of the State of New
York.
3.3 Counterparts .
This First Supplemental Indenture may be executed in several
counterparts, each of which shall be an original, and all
collectively but one and the same instrument.
3.4 The Trustee . The
Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this First Supplemental
Indenture or for or in respect of the recitals contained herein,
all of which are made solely by the Company. All rights,
privileges, protections, indemnities and benefits granted or
afforded to the Trustee under the Indenture shall be deemed
incorporated herein by this reference and shall be applicable to
all actions taken, suffered or omitted by the Trustee under this
First Supplemental Indenture.
3
IN WITNESS WHEREOF, the
parties hereto have caused this First Supplemental Indenture to be
executed as of the date first above written.
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| ALBEMARLE CORPORATION, as Issuer |
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| By: |
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/s/ Paul F. Rocheleau
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Name:
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Paul F. Rocheleau
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Title:
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Senior Vice President and
Chief
Financial Officer
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| THE BANK OF NEW YORK, as Trustee |
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| By: |
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/s/ William Cardozo
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Name:
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William Cardozo
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Title:
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Agent
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4
EXHIBIT A
[FACE OF NOTE]
[insert if the Note is a Global Note:
THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF
A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE
EXCHANGED OR TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE
TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.
UNLESS THIS SECURITY IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE
& CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE
& CO. OR TO SUCH OTHER ENTITY AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.]
ALBEMARLE
CORPORATION
5.10%
Senior Notes due 2015
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No.
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CUSIP NO. 012653AA9
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ISIN NO. US012653AA94
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$
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[insert
if the Note is a Global Note: , as revised by the Schedule of
Increases and Decreases in the Global Note attached
hereto] |
Albemarle Corporation, a
corporation duly organized and existing under the laws of the
Commonwealth of Virginia (herein called the “Company,”
which term includes any successor Person under the Indenture
hereinafter referred to), for value received, hereby promises to
pay to
, or registered assigns, the principal sum of
A-1
Dollars [, if the Note is a Global Note,
insert —, as revised by the Schedule of Increases and
Decreases in the Global Note attached hereto,] on February 1, 2015
and to pay interest thereon from
, 2005 or from the most recent Interest Payment Date to which
interest has been paid or duly provided for, semi-annually on
February 1 and August 1 in each year, commencing August 1, 2005, at
the rate of 5.10% per annum, until the principal hereof is paid or
made available for payment, provided that any principal and
premium, and any such installment of interest, which is overdue
shall bear interest at the rate of 5.10% per annum (to the extent
that the payment of such interest shall be legally enforceable),
from the dates such amounts are due until they are paid or made
available for payment, and such interest shall be payable on
demand. Interest will be computed on the basis of a 360-day year of
twelve 30-day months. The interest so payable, and punctually paid
or duly provided for (except for Defaulted Interest), on any
Interest Payment Date wil
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