Exhibit 4(f)
EXECUTION COPY
BANC OF AMERICA SECURITIES
LLC
J.P. MORGAN SECURITIES INC.
$100,000,000 AGGREGATE PRINCIPAL
AMOUNT
The Dress Barn,
Inc.
2.50% CONVERTIBLE SENIOR
NOTES
DUE 2024
Resale Registration Rights
Agreement
dated December 15,
2004
RESALE REGISTRATION RIGHTS
AGREEMENT, dated as of December 15, 2004, between The Dress Barn,
Inc., a Connecticut corporation (together with any successor
entity, herein referred to as the “ Company ”)
and Banc of America Securities LLC and J.P. Morgan Securities Inc.,
as representatives of the several initial purchasers (the “
Initial Purchasers ”) under the Purchase Agreement (as
defined herein).
Pursuant to the Purchase Agreement,
dated as of December 8, 2004, between the Company and Banc of
America Securities LLC and J.P. Morgan Securities Inc., as
representatives of the Initial Purchasers (the “ Purchase
Agreement ”), the Initial Purchasers have agreed to
purchase from the Company $100,000,000 ($115,000,000 if the Initial
Purchasers exercise their option in full) in aggregate principal
amount at maturity of 2.50% Convertible Senior Notes due 2024 (the
“ Notes ”). The Notes will be jointly and
severally guaranteed on an unsecured, unsubordinated basis by each
of the Company’s subsidiaries that guarantee the
Company’s obligations (collectively, the “
Subsidiary Guarantors ”) under a credit agreement to
be entered into among the Company and a number of banks, including,
J.P. Morgan Chase Bank, N.A., as Administrative Agent, Bank of
America, N.A., as Syndication Agent, and Wells Fargo Bank, N.A., as
a Documentation Agent, and each of the lenders from time to time
parties thereto (the “ Credit Agreement ”). The
Notes will be convertible into fully paid and nonassessable shares
of common stock, par value $.05 per share, of the Company (“
Common Stock ”). The Notes will be convertible on the
terms, and subject to the conditions, set forth in the Indenture
(as defined herein). To induce the Initial Purchasers to purchase
the Notes pursuant to Section 5(g) of the Purchase Agreement, the
Company has agreed to provide the registration rights set forth in
this Agreement.
The parties hereby agree as
follows:
1.
Definitions. Capitalized terms used in this Agreement
without definition shall have their respective meanings set forth
in the Purchase Agreement. As used in this Agreement, the following
capitalized terms shall have the following meanings:
“ Additional Amounts
”: As defined in Section 3(a) hereof.
“ Additional Amounts
Payment Date ”: Each June 15 and December 15.
“ Affiliate ” of
any specified person means any other person which, directly or
indirectly, is in control of, is controlled by, or is under common
control with, such specified person. For purposes of this
definition, control of a person means the power, direct or
indirect, to direct or cause the direction of the management and
policies of such person whether by contract or otherwise; and the
terms “controlling” and “controlled” have
meanings correlative to the foregoing.
“ Agreement ”:
This Resale Registration Rights Agreement.
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“ Amendment Effectiveness
Deadline Date ” has the meaning set forth in Section 2(e)
hereof.
“ Blue Sky Application
”: As defined in Section 6(a)(i) hereof.
“ Business Day ”:
The definition of “Business Day” in the
Indenture.
“ Commission ”:
Securities and Exchange Commission.
“ Common Stock ”:
As defined in the preamble hereto.
“ Company ”: As
defined in the preamble hereto.
“ Effectiveness Period
”: As defined in Section 2(a)(iii) hereof.
“ Effectiveness Target
Date ”: As defined in Section 2(a)(ii) hereof.
“ Exchange Act ”:
Securities Exchange Act of 1934, as amended.
“ Holder ”: A
Person who owns, beneficially or otherwise, Transfer Restricted
Securities.
“ Indemnified Holder
”: As defined in Section 6(a) hereof.
“ Indenture ”:
The Indenture, dated as of December 15, 2004 between the Company
and The Bank of New York, as trustee (the “Trustee”),
pursuant to which the Notes are to be issued, as such Indenture is
amended, modified or supplemented from time to time in accordance
with the terms thereof.
“ Initial Purchasers
”: As defined in the preamble hereto.
“ Majority of Holders
”: Holders holding over 50% of the aggregate principal amount
of Notes outstanding; provided that, for the purpose of this
definition, a holder of shares of Common Stock which constitute
Transfer Restricted Securities and issued upon conversion of the
Notes shall be deemed to hold an aggregate principal amount at
maturity of Notes (in addition to the principal amount at maturity
of Notes held by such holder) equal to the amount determined by
multiplying (x) the number of such shares of Common Stock held by
such holder by (y) the conversion rate in effect at the time of
such conversion as determined in accordance with the
Indenture.
“ NASD ”:
National Association of Securities Dealers, Inc.
“ Notes ”: As
defined in the preamble hereto.
“ Notice and
Questionnaire ” means a written notice executed by a
Holder and delivered to the Company containing substantially the
information called for by the Selling Securityholder Notice and
Questionnaire attached as Annex A to
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the Offering Memorandum of the
Company dated December 8, 2004 relating to the Notes.
“ Notice Holder
”: On any date, a Holder that has delivered a Notice and
Questionnaire to the Company on or prior to such date.
“ Person ”: An
individual, partnership, corporation, company, unincorporated
organization, trust, joint venture or a government or agency or
political subdivision thereof.
“ Purchase Agreement
”: As defined in the preamble hereto.
“ Prospectus ”:
The prospectus included in a Shelf Registration Statement, 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.
“ Record Holder
”: With respect to any Additional Amounts Payment Date, each
Person who is a Holder on the 15 th day immediately
preceding the relevant Additional Amounts Payment Date. In the case
of a Holder of shares of Common Stock issued upon conversion of the
Notes, “Record Holder” shall mean each Person who is a
Holder of shares of Common Stock which constitute Transfer
Restricted Securities on the 15 th day immediately
preceding the relevant Additional Amounts Payment Date.
“ Registration Default
”: As defined in Section 3(a) hereof.
“ Securities Act
”: Securities Act of 1933, as amended.
“ Shelf Filing Deadline
”: As defined in Section 2(a)(i) hereof.
“ Shelf Registration
Statement ”: As defined in Section 2(a)(i)
hereof.
“ Subsidiary Guarantees
”: The unsecured, unsubordinated guarantees, if any, of the
Notes by the Subsidiary Guarantors.
“ Subsidiary Guarantors
”: As defined in the preamble hereto.
“ Suspension Notice
”: As defined in Section 4(c) hereof.
“ Suspension Period
”: As defined in Section 4(b)(i) hereof.
“ TIA ”: Trust
Indenture Act of 1939, as amended, and the rules and regulations of
the Commission thereunder, in each case, as in effect on the date
the Indenture is qualified under the TIA.
“ Transfer Restricted
Securities ”: Each Note and each share of Common Stock
issued upon conversion of Notes until the earlier of:
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(i) the date on
which such Note (and the Subsidiary Guarantee thereof, if any) or
such share of Common Stock issued upon conversion has been
effectively registered under the Securities Act and disposed of in
accordance with the Shelf Registration Statement;
(ii) the date on
which such Note or such share of Common Stock issued upon
conversion is transferred in compliance with Rule 144 under the
Securities Act or may be sold or transferred by a person who is not
an affiliate of the Company pursuant to Rule 144 under the
Securities Act (or any other similar provision then in force)
without any volume or manner of sale restrictions thereunder;
and
(iii) the date on which
such Note or such share of Common Stock issued upon conversion
ceases to be outstanding (whether as a result of redemption,
repurchase and cancellation, conversion or otherwise).
“ Underwritten
Registration ”: A registration in which Notes of the
Company are sold to an underwriter for reoffering to the
public.
Unless the context otherwise
requires, the singular includes the plural, and words in the plural
include the singular.
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2.
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Shelf Registration .
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(a)
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The Company and the Subsidiary Guarantors, if
any, shall:
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(i) not later than
90 days after the date hereof (the “ Shelf Filing
Deadline ”), cause to be filed a registration statement
pursuant to Rule 415 under the Securities Act (together with any
additional Shelf Registration Statement filed pursuant to Section
2(c), the “ Shelf Registration Statement ”),
which Shelf Registration Statement shall provide for resales of all
Transfer Restricted Securities held by Holders that have provided
the information required pursuant to the terms of Section 2(e)
hereof;
(ii) use reasonable
efforts to cause the Shelf Registration Statement to be declared
effective by the Commission not later than 180 days after the date
hereof (the “ Effectiveness Target Date ”);
and
(iii) use reasonable
efforts to keep the Shelf Registration Statement continuously
effective, supplemented and amended as required by the provisions
of Section 4(b) hereof to the extent necessary to ensure that (A)
it is available for resales by the Holders of Transfer Restricted
Securities entitled, subject to
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Section 2(e), to the benefit of this
Agreement and (B) conforms with the requirements of this Agreement
and the Securities Act and the rules and regulations of the
Commission promulgated thereunder as announced from time to time,
for a period (the “ Effectiveness Period ”)
until the earliest of:
(1) two years following
the last date of original issuance of any of the Notes;
(2) the date when the
Holders of Transfer Restricted Securities are able to sell all such
Transfer Restricted Securities immediately without restriction
pursuant to the volume limitation provisions of Rule 144 under the
Securities Act; and
(3) the date when all of
the Transfer Restricted Securities have been sold either pursuant
to the Shelf Registration Statement or pursuant to Rule 144 under
the Securities Act or any similar provision then in
force.
(b) At the time the Shelf
Registration Statement is declared effective, each Holder that
became a Notice Holder on or prior to the date fifteen (15)
Business Days prior to such time of effectiveness shall be named as
a selling securityholder in the Shelf Registration Statement and
the related Prospectus in such a manner as to permit such Holder to
deliver such Prospectus to purchasers of Transfer Restricted
Securities in accordance with applicable law. None of the
Company’s or any of the Subsidiary Guarantors’, if any,
securityholders (other than the Holders of Transfer Restricted
Securities) shall have the right to include any of the
Company’s or any of the Subsidiary Guarantors’, if any,
securities in the Shelf Registration Statement.
(c) If the Shelf
Registration Statement ceases to be effective for any reason at any
time during the Effectiveness Period (other than because all
Transfer Restricted Securities registered thereunder shall have
been resold pursuant thereto or shall have otherwise ceased to be
Transfer Restricted Securities), the Company and the Subsidiary
Guarantors, if any, shall use their reasonable efforts to obtain
the prompt withdrawal of any order suspending the effectiveness
thereof, and in any event shall within ten (10) days of such
cessation of effectiveness amend the Shelf Registration Statement
in a manner reasonably expected to obtain the withdrawal of the
order suspending the effectiveness thereof, or file an additional
Shelf Registration Statement covering all of the securities that as
of the date of such filing are Transfer Restricted Securities. If
an additional Shelf Registration Statement is filed, the Company
and the Subsidiary Guarantors, if any, shall use their reasonable
efforts to cause such additional Shelf Registration Statement to
become effective as
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promptly as is practicable after
such filing and to keep such additional Shelf Registration
Statement (or any subsequently filed additional Shelf Registration
Statement) continuously effective until the end of the
Effectiveness Period. Notwithstanding the foregoing, the Company
may suspend the effectiveness of the Registration Statement in the
manner described in Section 4(b)(i).
(d) The Company and the
Subsidiary Guarantors, if any, shall supplement and amend the Shelf
Registration Statement if required by the rules, regulations or
instructions applicable to the registration form used by the
Company and the Subsidiary Guarantors, if any, for such Shelf
Registration Statement, if required by the Securities Act or as
reasonably requested by the Initial Purchasers or by the Trustee on
behalf of the Holders of the Transfer Restricted Securities covered
by such Shelf Registration Statement.
(e) Each Holder agrees
that if such Holder wishes to sell Transfer Restricted Securities
pursuant to a Shelf Registration Statement and related Prospectus,
it will do so only in accordance with this Section 2(e) and Section
4(d). Each Holder wishing to sell Transfer Restricted Securities
pursuant to a Shelf Registration Statement and related Prospectus
agrees to deliver a Notice and Questionnaire to the Company at
least three (3) Business Days prior to any intended distribution of
Transfer Restricted Securities under the Shelf Registration
Statement. From and after the date the Shelf Registration Statement
is declared effective the Company and the Subsidiary Guarantors, if
any, shall, as promptly as practicable after the date a Notice and
Questionnaire is delivered, and in any event upon the later of (x)
fifteen (15) Business Days after such date (but no earlier than
fifteen (15) Business Days after effectiveness) or (y) fifteen (15)
Business Days after the expiration of any Suspension Period in
effect when the Notice and Questionnaire is delivered or put into
effect within fifteen (15) Business Days of such delivery
date:
(i) if required by
applicable law, file with the SEC a post-effective amendment to the
Shelf Registration Statement or prepare and, if required by
applicable law, file a supplement to the related Prospectus or a
supplement or amendment to any document incorporated therein by
reference or file any other required document so that the Holder
delivering such Notice and Questionnaire is named as a selling
securityholder in the Shelf Registration Statement and the related
Prospectus in such a manner as to permit such Holder to deliver
such Prospectus to purchasers of the Transfer Restricted Securities
in accordance with applicable law and, if the Company and the
Subsidiary Guarantors, if any, shall file a post-effective
amendment to the Shelf Registration Statement, use best efforts to
cause such post-effective amendment to be declared effective under
the Securities Act as promptly as is
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practicable, but in any event by the
date (the “Amendment Effectiveness Deadline
Date” ) that is forty-five (45) days after the date such
post effective amendment is required by this clause to be
filed:
(ii) provide such
Holder copies of the any documents filed pursuant to Section
2(e)(i); and
(iii) notify such Holder
as promptly as practicable after the effectiveness under the
Securities Act of any post-effective amendment filed pursuant to
Section 2(e)(i);
provided that if such Notice and Questionnaire is
delivered during a Suspension Period, the Company shall so inform
the Holder delivering such Notice and Questionnaire and shall take
the actions set forth in clauses (i), (ii) and (iii) above upon
expiration of the Suspension Period in accordance with Section
4(b). Notwithstanding anything contained herein to the contrary,
(i) neither the Company nor any of the Subsidiary Guarantors, if
any, shall be under any obligation to name any Holder that is not a
Notice Holder as a selling securityholder in any Registration
Statement or related Prospectus, (ii) the Amendment Effectiveness
Deadline Date shall be extended by up to fifteen (15) Business Days
from the expiration of a Suspension Period (and neither the Company
nor any of the Subsidiary Guarantors, if any, shall incur any
obligation to pay Additional Amounts during such extension) if such
Suspension Period shall be in effect on the Amendment Effectiveness
Deadline Date, and (iii) the Company shall not be obligated to file
(A) more than one pre-effective amendment to the Shelf Registration
Statement or supplement to the Prospectus for all Holders during
one fiscal quarter and (ii) more than one post-effective amendment
to the Shelf Registration Statement for all Holders during one
three-month period, and provided further, in all such cases
involving supplements or amendments (whether pre-effective or
post-effective), the Company shall only be obligated to make a
filing when the principal amount of Notes to be included in such
amendment or supplement is more than $1,000,000.
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3.
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Additional Amounts .
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(a)
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If:
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(i) the Shelf
Registration Statement is not filed with the Commission prior to or
on the Shelf Filing Deadline;
(ii) the Shelf
Registration Statement has not been declared effective by the
Commission prior to or on the Effectiveness Target Date;
(iii) the Company or any
of the Subsidiary Guarantors, if any, has failed to perform its
obligations set forth in Section 2(e) within the time period
required therein;
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(iv) any post-effective
amendment to a Shelf Registration filed pursuant to Section 2(e)(i)
has not become effective under the Securities Act on or prior to
the Amendment Effectiveness Deadline Date;
(v) except as provided in
Section 4(b)(i) hereof, the Shelf Registration Statement is filed
and declared effective but, during the Effectiveness Period, shall
thereafter cease to be effective or fail to be usable for its
intended purpose without being succeeded within five Business Days
by a post-effective amendment to the Shelf Registration Statement,
a supplement to the Prospectus or a report filed with the
Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the
Exchange Act that cures such failure and, in the case of a
post-effective amendment, is itself immediately declared effective;
or
(vi) (A) prior to or on
the 45th or 55th day, as the case may be, of any Suspension Period,
such suspension has not been terminated or (B) Suspension Periods
exceed an aggregate of 120 days in any 360 day period,
(each such event referred to in
foregoing clauses (i) through (iv), a “ Registration
Default ”), the Company and the Subsidiary Guarantors, if
any, jointly and severally, hereby agree to pay interest (“
Additional Amounts ”) with respect to the Transfer
Restricted Securities from and including the day following the
Registration Default to but excluding the earlier of (1) the day on
which the Registration Default has been cured and (2) the date the
Shelf Registration Statement is no longer required to be kept
effective, accruing at a rate:
(A) in respect of the Notes,
the Company and each of the Subsidiary Guarantors, if any, jointly
and severally agree to pay interest to each holder of Notes, (x)
with respect to the first 90-day period during which a Registration
Default shall have occurred and be continuing, equal to 0.25% per
annum of the aggregate principal amount of the Notes, and (y) with
respect to the period commencing on the 91st day following the day
the Registration Default shall have occurred and be continuing,
equal to 0.50% per annum of the aggregate principal amount of the
Notes; provided that in no event shall Additional Amounts
accrue at a rate per year exceeding 0.50% of the aggregate
principal amount of the Notes; and
(B) in respect of Notes
submitted for conversion into cash and Common Stock, if any, during
a Registration Default only, the Company and each of the Subsidiary
Guarantors, if any, jointly and severally agree to pay
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accrued and unpaid Additional
Amounts to the holders of such Notes calculated in accordance with
paragraph (A) up to and including the Conversion Date (as defined
in the Indenture); and
(C) in respect of Common Stock,
each Holder of such Common Stock will not be entitled to any
Additional Amounts.
(b) All Additional
Amounts accrued in accordance with paragraph (A) above shall be
paid in arrears to Record Holders by the Company and the Subsidiary
Guarantors, if any, on each Additional Amounts Payment Date. All
Additional Amounts payable in accordance with paragraph (B) above
shall be paid and delivered on the settlement date relating to the
applicable Conversion Date. Upon the cure of all Registration
Defaults relating to any particular Debenture or share of Common
Stock, the accrual of Additional Amounts with respect to such
Debenture or share of Common Stock will cease.
All obligations of the Company and
the Subsidiary Guarantors, if any, set forth in this Section 3 that
are outstanding with respect to any Transfer Restricted Security at
the time such security ceases to be a Transfer Restricted Security
shall survive until such time as all such obligations with respect
to such Transfer Restricted Security shall have been satisfied in
full.
The Additional Amounts set forth
above shall be the exclusive monetary remedy available to the
Holders of Transfer Restricted Securities for each Registration
Default.
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4.
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Registration Procedures .
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(a) In connection with
the Shelf Registration Statement, the Company and the Subsidiary
Guarantors, if any, shall comply with all the provisions of Section
4(b) hereof and shall use reasonable efforts to effect such
registration to permit the resale of the Transfer Restricted
Securities, and pursuant thereto, shall as expeditiously as
possible prepare and file with the Commission a Shelf Registration
Statement relating to the registration on any appropriate form
under the Securities Act.
(b) In connection with
the Shelf Registration Statement and any Prospectus required by
this Agreement to permit the resale of Transfer Restricted
Securities, the Company and the Subsidiary Guarantors, if any,
shall:
(i) Subject to any
notice by the Company or any of the Subsidiary Guarantors, if any,
in accordance with this Section 4(b) of the existence of any fact
or event of the kind described in Section 4(b)(iii)(D), use
reasonable efforts to keep the Shelf
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Registration Statement continuously
effective during the Effectiveness Period; upon the occurrence of
any event that would cause the Shelf Registration Statement or the
Prospectus contained therein (A) to contain a material misstatement
or omission or (B) not to be effective and usable for resale of
Transfer Restricted Securities during the Effectiveness Period, the
Company and the Subsidiary Guarantors, if any, shall file promptly
an appropriate amendment to the Shelf Registration Statement, a
supplement to the Prospectus or a report filed with the Commission
pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act,
in the case of clause (A), correcting any such misstatement or
omission, and, in the case of either clause (A) or (B), use
reasonable efforts to cause such amendment to be declared effective
and the Shelf Registration Statement and the related Prospectus to
become usable for their intended purposes as soon as practicable
thereafter. Notwithstanding the foregoing, the Company may suspend
the effectiveness of the Shelf Registration Statement by written
notice to the Holders for a period not to exceed an aggregate of 45
days in any 90-day period (each such period, a “
Suspension Period ”) if:
(x) an event occurs and is
continuing as a result of which the Shelf Registration Statement,
the Prospectus, any amendment or supplement thereto, or any
document incorporated by reference therein would, in the
Company’s judgment, contain an untrue statement of a material
fact or omit to state a