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.
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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]
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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 will, as provided in such Indenture, be paid
to the Person in whose name this Note (or one or more Predecessor
Securities) is registered at the close of business on the Regular
Record Da