Exhibit 4.01
AGILENT TECHNOLOGIES, INC.
(as Obligor)
and
U.S. BANK NATIONAL ASSOCIATION
(as Trustee)
Second Supplemental Indenture
Dated as of September 14, 2009
4.45% Senior Notes due 2012
TABLE OF CONTENTS
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Page
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ARTICLE I
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DEFINITIONS
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Section 1.01.
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Definitions
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1
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ARTICLE II
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TERMS OF THE NOTES
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Section 2.01.
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Title
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3
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Section 2.02.
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Aggregate Principal Amount
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3
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Section 2.03.
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Maturity
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3
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Section 2.04.
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Interest
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4
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Section 2.05.
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Place of Payment
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4
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Section 2.06.
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Optional Redemption
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4
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Section 2.07.
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Change of Control Repurchase
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6
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Section 2.08.
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Issue Date
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7
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Section 2.09.
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Issue Price
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7
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Section 2.10.
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Definitive and Global Notes
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7
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Section 2.11.
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Denomination
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7
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Section 2.12.
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Further Issuances
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7
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Section 2.13.
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Defeasance and Discharge of Covenants upon
Deposit of Moneys, U.S. Government Obligations
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7
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Section 2.14.
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Events of Default
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7
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Section 2.15.
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Limitation on Liens
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7
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Section 2.16.
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Effect of Supplemental Indentures
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7
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Exhibit A
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Form of Senior Note
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ii
THIS SECOND SUPPLEMENTAL INDENTURE,
between Agilent Technologies, Inc., a Delaware corporation
(the “Obligor”), having its principal office at 5301
Stevens Creek Blvd., Santa Clara, California 95051, and U.S. Bank
National Association, as trustee (the “Trustee”), is
made and entered into as of this 14th day of September,
2009.
RECITALS OF THE OBLIGOR
WHEREAS, the Obligor and the Trustee
executed and delivered an Indenture dated as of October 24,
2007 (the “Indenture”), to provide for the issuance by
the Obligor from time to time of debt securities;
WHEREAS, capitalized terms used
herein, not otherwise defined, shall have the same meanings given
them in the Indenture;
WHEREAS, pursuant to a board
resolution, the Obligor has authorized the issuance of $250 million
of its 4.45% Senior Notes due 2012 (the “Senior
Notes”); and
WHEREAS, the Obligor desires to
establish the terms of the Senior Notes in accordance with
Section 2.01 of the Indenture;
NOW, THEREFORE, it is mutually
agreed as follows:
ARTICLE I
DEFINITIONS
SECTION 1.01.
Definitions. For all purposes of this Second Supplemental
Indenture, except as otherwise expressly provided or unless the
context otherwise requires:
“ Change of Control
” means the occurrence of any of the following: (1) the
direct or indirect sale, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series
of related transactions, of all or substantially all of the
properties or assets of the Obligor and its Subsidiaries taken as a
whole to any “person” (as that term is used in
Section 13(d) and Section 14(d) of the Exchange
Act) other than the Obligor or one of its Subsidiaries;
(2) the adoption of a plan relating to the Obligor’s
liquidation or dissolution; (3) the consummation of any
transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person”
(as that term is used in Section 13(d)(3) of the Exchange
Act) or group of persons, other than the Obligor or its
Subsidiaries, becomes the beneficial owner (as defined in
Rules 13d-3 and 13d-5 of the Exchange Act), directly or
indirectly, of more than 50% of the combined voting power of the
Obligor’s Voting Stock or other Voting Stock into which the
Obligor’s Voting Stock is reclassified, consolidated,
exchanged or changed, measured by voting power rather than number
of shares; or (4) the first day on which a majority of the
members of the Board of Directors are not Continuing
Directors.
“ Change of Control
Repurchase Event ” means the occurrence of both a Change
of Control and a Ratings Event.
“ Comparable Treasury
Issue” means the United States Treasury security selected
by an Independent Investment Banker as having an actual or
interpolated maturity comparable to the remaining term of the
Senior Notes to be redeemed that would be utilized, at the time of
selection and in accordance with customary financial practice, in
pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Senior Notes.
“ Comparable Treasury
Price ” means, with respect to any Redemption Date,
(1) the arithmetic average of four Reference Treasury Dealer
Quotations for such Redemption Date after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the
Trustee obtains fewer than four Reference Treasury Dealer
Quotations, the arithmetic average of all Reference Treasury Dealer
Quotations for such Redemption Date.
1
“ Continuing Directors
” means, as of any date of determination, any member of the
Board of Directors who (1) was a member of the Board of
Directors on the date of the issuance of the Senior Notes; or
(2) was nominated for election or elected to the Board of
Directors with the approval of a majority of the Continuing
Directors who were members of the Board of Directors at the time of
such nomination or election.
“ First Supplemental
Indenture ” means the First Supplemental Indenture dated
as of October 29, 2007 to the Indenture between the Obligor
and the Trustee, as amended or supplemented from time to
time.
“ Fitch ” means
Fitch Ratings Ltd. and its successors.
“ Indenture ” has
the meaning assigned in the recitals.
“ Independent Investment
Banker ” means Barclays Capital Inc., Citigroup Global
Markets Inc. or Credit Suisse Securities (USA) Inc., or their
respective successors as may be appointed from time to time by the
Obligor; provided , however , that if any of the
foregoing ceases to be a primary U.S. Government securities dealer
in New York City (a “primary treasury dealer”), the
Obligor shall substitute another primary treasury
dealer.
“ Investment Grade
” means a rating of BBB– or better by Fitch (or its
equivalent under any successor rating categories of Fitch); a
rating of Baa3 or better by Moody’s (or its equivalent under
any successor Rating Categories of Moody’s); a rating of BBB-
or better by S&P (or its equivalent under any successor Rating
Categories of S&P); and the equivalent investment grade credit
rating from any additional Rating Agency or Rating Agencies
selected by the Obligor.
“ Moody’s ”
means Moody’s Investors Service Inc. and its
successors.
“ Rating Agency ”
means each of Fitch, Moody’s and S&P, so long as such
entity makes a rating of the notes publicly available; provided,
however, if any of Fitch, Moody’s or S&P ceases to
rate the notes or fails to make a rating of the notes publicly
available for reasons outside of the control of Agilent, Agilent
shall be allowed to designate a “nationally recognized
statistical rating organization” within the meaning of
Rule 15c3-l(e)(2)(vi)(F) under the Exchange Act
(as certified by a resolution of the board of directors of
Agilent) as a replacement agency for the agency that ceased to make
such a rating publicly available. For the avoidance of doubt,
failure by Agilent to pay rating agency fees to make a rating of
the notes shall not be a “reason outside of the control of
Agilent” for the purposes of the preceding
sentence.
“ Rating Category
” means (i) with respect to S&P, any of the
following categories: BBB, BB, B, CCC, CC, C and D (or equivalent
successor categories); (ii) with respect to Moody’s, any
of the following categories: Baa, Ba, B, Caa, Ca, C and D (or
equivalent successor categories); (iii) with respect to Fitch,
any of the following categories: BBB, BB, B, CCC, CC, C and D (or
equivalent successor categories); and (iv) the equivalent of
any such category of S&P, Moody’s or Fitch used by
another Rating Agency. In determining whether the rating of the
Senior Notes has decreased by one or more gradations, gradations
within Rating Categories (+ and - for S&P or Fitch; 1, 2 and 3
for Moody’s; or the equivalent gradations for another Rating
Agency) shall be taken into account (e.g., with respect to S&P
or Fitch, a decline in a rating from BB+ to BB, as well as from BB-
to B+, shall constitute a decrease of one gradation).
“ Ratings Event ”
means a decrease in the ratings of the Senior Notes by one or more
of the Rating Agencies such that the Senior Notes are rated below
Investment Grade by all of the Rating Agencies on any date from the
date of the public notice of an arrangement that could result in a
Change of Control until the end of the 60-day period following
public notice of the occurrence of a Change of Control (which
period shall be extended so long as the rating of the Senior Notes
is under publicly announced consideration for possible downgrade by
any of the Rating Agencies).
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Notwithstanding the foregoing, a
Ratings Event otherwise arising by virtue of a particular reduction
in rating shall not be deemed to have occurred in respect of a
particular Change of Control (and thus shall not be deemed a
Ratings Event for purposes of the definition of Change of Control
Repurchase Event hereunder) if the Rating Agencies making the
reduction in rating to which this definition would otherwise apply
do not announce or publicly confirm or inform the Trustee in
writing at its request that the reduction was the result, in whole
or in part, of any event or circumstance comprised of or arising as
a result of, or in respect of, the applicable Change of Control
(whether or not the applicable Change of Control shall have
occurred at the time of the Ratings Event).
“ Reference Treasury
Dealer ” means Barclays Capital Inc., Citigroup Global
Markets Inc. or Credit Suisse Securities (USA) LLC, and one
other primary treasury dealer selected by Agilent, and each of
their respective successors and any other primary treasury dealers
selected by Agilent.
“ Reference Treasury Dealer
Quotations ” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the arithmetic average, as
determined by the Trustee, of the bid and asked prices for the
Comparable Treasury Issue (expressed in each case as a percentage
of its principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer as of 5:00 p.m., New York City time,
on the third Business Day preceding such Redemption
Date.
“ Remaining Scheduled
Payments ” means, with respect to any Senior Note to be
redeemed, the remaining scheduled payments of the principal thereof
and interest thereon that would be due after the related Redemption
Date but for such redemption; provided , however ,
that, if such Redemption Date is not an Interest Payment Date with
respect to such Senior Note, the amount of the next scheduled
interest payment thereon shall be reduced by the amount of interest
accrued thereon to such Redemption Date.
“ Second Supplemental
Indenture ” means this Second Supplemental Indenture to
the Indenture, as amended or supplemented from time to
time.
“ Senior Notes ”
has the meaning assigned in the Recitals.
“ S&P ” means
Standard & Poor’s Rating Services, a division of The
McGraw-Hill Companies, Inc., and its successors.
“ Treasury Rate ”
means, with respect to any Redemption Date, the rate per annum
equal to the semi-annual equivalent yield to Maturity (computed as
of the third Business Day immediately preceding that Redemption
Date) of the Comparable Treasury Issue. In determining this rate,
the Obligor shall assume a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date.
“ Voting Stock ”
of any specified Person as of any date means the capital stock of
such Person that is at the time entitled to vote generally in the
election of the board of directors of such Person.
ARTICLE II
TERMS OF THE NOTES
SECTION 2.01. Title .
The Senior Notes shall constitute a series of Notes having the
title “4.45% Senior Notes due 2012” that shall be in
the form attached as Exhibit A.
SECTION 2.02. Aggregate
Principal Amount. The aggregate principal amount of the Senior
Notes that may be authenticated and delivered under this Second
Supplemental Indenture shall be unlimited; provided that the
Obligor complies with the provisions of this Second Supplemental
Indenture.
SECTION 2.03. Maturity .
The entire outstanding principal amount of the Senior Notes shall
be payable on September 14, 2012.
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SECTION 2.04. Interest .
The Senior Notes shall accrue interest at a rate of 4.45% per year.
Interest shall accrue on the Senior Notes from the most recent
Interest Payment Date to or for which interest has been paid or
duly provided for (or if no interest has been paid or duly provided
for, from the Issue Date of the Senior Notes), payable semiannually
in arrears on March 14 and September 14 of each year,
beginning on March 14, 2010. The Record Dates for payment of
interest shall be February 28 (or February 29, if
applicable) and August 31 of each year, beginning
March 14, 2010. Interest on overdue principal and premium, if
any, from time to time, shall be at a rate of 2% per annum in
excess of the rate then in effect; interest on overdue installments
of interest, if any, from time to time, shall be at the same rate,
to the extent lawful.
SECTION 2.05. Place of
Payment . The place where the principal of (and premium, if
any) and interest, if any, with respect to the Senior Notes shall
be payable shall be the Corporate Trust Office.
SECTION 2.06. Optional
Redemption. (a) The Obligor may redeem the Senior Notes at
its option at any time in whole or in part. If the Obligor elects
to redeem the Senior Notes, it shall pay a Redemption Price equal
to the greater of the following amounts, plus, in each case,
accrued and unpaid interest thereon to, but not including, the
Redemption Date:
(i) 100% of the aggregate
principal amount of the Senior Notes to be redeemed on the
Redemption Date; or
(ii) the sum of the present
values of the Remaining Scheduled Payments. In determining the
present values of the Remaining Scheduled Payments, the Obligor
shall discount such payments to the Redemption Date on a
semi-annual basis (assuming a 360-day year consisting of twelve
30-day months) at a discount rate equal to the Treasury Rate plus
50 basis points.
Any redemption pursuant to this
Section 2.06(a) shall be made pursuant to the provisions
of Section 2.06(b) through (i) below.
(b) If the Obligor elects to
redeem the Senior Notes pursuant to the optional redemption
provisions of Section 2.06(a) above, it shall furnish to
the Trustee, at least 45 days (or such shorter period as shall be
acceptable to the Trustee, but in no event less than 30 days) but
not more than 60 days before the Redemption Date, an
Officers’ Certificate setting forth (1) the Redemption
Date, and (2) the CUSIP and/or ISIN numbers of the Senior
Notes.
(c) If fewer than all the
Senior Notes are to be redeemed, the particular Senior Notes to be
redeemed shall be selected not more than 60 days prior to the
Redemption Date by the Trustee from the Outstanding Senior Notes
not previously called for redemption, pro rata, by lot or by such
other method as the Trustee shall deem fair and appropriate, and
may provide for the selection for redemption of portions (equal to
the minimum authorized denomination for the Senior Notes or any
integral multiple thereof) of the principal amount of Senior Notes
of a denomination larger than the minimum authorized denomination
for the Senior Notes.
(d) The Trustee shall promptly
notify the Obligor in writing of the Senior Notes selected for
redemption and, in the case of any Senior Notes selected for
partial redemption, the principal amount thereof to be
redeemed.
(e) For all purposes of this
Second Supplemental Indenture, unless the context otherwise
requires, all provisions relating to the redemption of Senior Notes
shall relate, in the case of any Senior Note redeemed or to be
redeemed only in part, to the portion of the principal of such
Senior Note which has been or is to be redeemed.
(f) Notice of redemption of
Senior Notes to be redeemed, either in whole or in part, shall be
given to the Holders thereof at the option of the Obligor, by
first-class mail, postage prepaid, mailed not fewer than 30 nor
more than 60 days prior to the Redemption Date, to each such
Holder at such Holder’s last address appearing in the
Security Register. All notices of redemption shall
state:
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(i) the Redemption
Date;
(ii) the Redemption Price, or
if not then ascertainable, the manner of calculating the Redemption
Price;
(iii) if fewer than all
Outstanding Senior Notes are to be redeemed, the identification
(and, in the case of partial redemption, the respective principal
amounts) of the Senior Notes to be redeemed from the Holder to whom
the notice is given and that on and after the Redemption Date, upon
surrender of such Senior Note, a new Senior Note or Senior Notes in
the aggregate principal amount equal to the unredeemed portion
thereof shall be issued in accordance with
Section 2.06(i);
(iv) that on the Redemption
Date the Redemption Price shall become due and payable upon each
Senior Note called for redemption, and that interest, if any,
thereon shall cease to accrue from and after said date;
(v) the place where Senior
Notes called for redemption are to be surrendered for payment of
the Redemption Price, which shall be the office or agency
maintained by the Obligor pursuant to Section 9.02 of the
Indenture;
(vi) the name and address of
the Paying Agent;
(vii) that the Senior Notes
called for redemption must be surrendered to the Paying Agent to
collect the Redemption Price; and
(viii) the CUSIP and/or ISIN
number, and that no representation is made as to the correctness or
accuracy of the CUSIP and/or ISIN number, if any, listed in such
notice or printed on the Senior Notes.
Notice of redemption of Senior Notes
shall be given by the Obligor or, at the Obligor’s request,
by the Trustee in the name and at the expense of the Obligor;
provided , however , that if the Obligor requests the
Trustee to give such notice, it shall pro