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INDENTURE

Indenture Agreement

INDENTURE | Document Parties: MYLAN INC. | BERTEK INTERNATIONAL, INC | CEDE & CO | DEY LIMITED PARTNER, INC | DEY, INC | MLRE LLC | MP AIR, INC | MYLAN BERTEK PHARMACEUTICALS INC | MYLAN LHC INC | MYLAN PHARMACEUTICALS INC | UDL LABORATORIES, INC You are currently viewing:
This Indenture Agreement involves

MYLAN INC. | BERTEK INTERNATIONAL, INC | CEDE & CO | DEY LIMITED PARTNER, INC | DEY, INC | MLRE LLC | MP AIR, INC | MYLAN BERTEK PHARMACEUTICALS INC | MYLAN LHC INC | MYLAN PHARMACEUTICALS INC | UDL LABORATORIES, INC

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Title: INDENTURE
Governing Law: New York     Date: 9/15/2008
Industry: Biotechnology and Drugs     Law Firm: Cravath Swaine     Sector: Healthcare

INDENTURE, Parties: mylan inc. , bertek international  inc , cede & co , dey limited partner  inc , dey  inc , mlre llc , mp air  inc , mylan bertek pharmaceuticals inc , mylan lhc inc , mylan pharmaceuticals inc , udl laboratories  inc
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Exhibit 4.1

 

 

MYLAN INC., as Issuer,

The Guarantors named herein, as Guarantors,

and

THE BANK OF NEW YORK MELLON, as Trustee

 

INDENTURE

Dated as of September 15, 2008

 

3.75% Cash Convertible Notes Due 2015

 

 

 


 

TABLE OF CONTENTS

 

 

 

 

 

 

 

 

 

 

 

Page

 

 

 

 

 

 

 

 

 

ARTICLE 1

 

 

 

 

 

 

 

 

 

 

 

 

 

DEFINITIONS AND INCORPORATION BY REFERENCE

 

 

 

 

 

 

 

 

 

 

 

Section 1.01.

 

Definitions.

 

 

1

 

Section 1.02.

 

Other Definitions.

 

 

9

 

Section 1.03.

 

Trust Indenture Act Provisions.

 

 

10

 

Section 1.04.

 

Rules of Construction.

 

 

10

 

 

 

 

 

 

 

 

 

 

ARTICLE 2

 

 

 

 

 

 

 

 

 

 

 

 

 

THE SECURITIES

 

 

 

 

 

 

 

 

 

 

 

Section 2.01.

 

Form and Dating.

 

 

11

 

Section 2.02.

 

Execution and Authentication.

 

 

13

 

Section 2.03.

 

Registrar and Paying Agent.

 

 

14

 

Section 2.04.

 

Paying Agent To Hold Money in Trust.

 

 

14

 

Section 2.05.

 

[Reserved].

 

 

15

 

Section 2.06.

 

Lists of Holders of Securities.

 

 

15

 

Section 2.07.

 

Transfer and Exchange.

 

 

15

 

Section 2.08.

 

Replacement Securities.

 

 

18

 

Section 2.09.

 

Outstanding Securities.

 

 

18

 

Section 2.10.

 

Treasury Securities.

 

 

19

 

Section 2.11.

 

Temporary Securities.

 

 

19

 

Section 2.12.

 

Cancellation.

 

 

19

 

Section 2.13.

 

Legend; Additional Transfer and Exchange Requirements.

 

 

19

 

Section 2.14.

 

CUSIP Numbers.

 

 

21

 

Section 2.15.

 

Calculations.

 

 

21

 

Section 2.16.

 

Payment of Interest; Interest Rights Preserved.

 

 

21

 

Section 2.17.

 

Computation of Interest.

 

 

22

 

Section 2.18.

 

Deemed Removal of Restricted Securities Legend; Unrestricted CUSIP.

 

 

22

 

 

 

 

 

 

 

 

 

 

ARTICLE 3

 

 

 

 

 

 

 

 

 

 

 

 

 

PURCHASE

 

 

 

 

 

 

 

 

 

 

 

Section 3.01.

 

Purchase of Securities by the Company for Cash at Option of the Holder upon a Fundamental Change.

 

 

23

 

Section 3.02.

 

Effect of Fundamental Change Purchase Notice.

 

 

25

 

Section 3.03.

 

Deposit of Fundamental Change Purchase Price.

 

 

25

 

Section 3.04.

 

Repayment to the Company.

 

 

26

 

Section 3.05.

 

Securities Purchased in Part.

 

 

26

 

Section 3.06.

 

Compliance with Securities Laws upon Purchase of Securities.

 

 

26

 

Section 3.07.

 

Purchase of Securities in Open Market.

 

 

27

 

-i-


 

 

 

 

 

 

 

 

 

 

 

 

Page

 

 

 

 

 

 

 

 

 

ARTICLE 4

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH CONVERSION

 

 

 

 

 

 

 

 

 

 

 

Section 4.01.

 

Cash Conversion Privilege and Conversion Reference Rate.

 

 

27

 

Section 4.02.

 

Conversion Procedure.

 

 

30

 

Section 4.03.

 

[Reserved].

 

 

31

 

Section 4.04.

 

[Reserved].

 

 

31

 

Section 4.05.

 

[Reserved].

 

 

31

 

Section 4.06.

 

Adjustment of Conversion Reference Rate.

 

 

31

 

Section 4.07.

 

No Adjustment.

 

 

36

 

Section 4.08.

 

Notice of Adjustment.

 

 

37

 

Section 4.09.

 

Notice of Certain Transactions.

 

 

37

 

Section 4.10.

 

Effect of Reclassification, Consolidation, Merger or Sale on Conversion Privilege.

 

 

37

 

Section 4.11.

 

Trustee’s Disclaimer.

 

 

38

 

Section 4.12.

 

Settlement Upon Cash Conversion.

 

 

39

 

 

 

 

 

 

 

 

 

 

ARTICLE 5

 

 

 

 

 

 

 

 

 

 

 

 

 

COVENANTS

 

 

 

 

 

 

 

 

 

 

 

Section 5.01.

 

Payment of Securities.

 

 

40

 

Section 5.02.

 

Reports by Company and the Guarantors.

 

 

40

 

Section 5.03.

 

Compliance Certificates.

 

 

41

 

Section 5.04.

 

Further Instruments and Acts.

 

 

41

 

Section 5.05.

 

Maintenance of Corporate Existence.

 

 

41

 

Section 5.06.

 

Stay, Extension and Usury Laws.

 

 

41

 

Section 5.07.

 

Maintenance of Office or Agency.

 

 

42

 

Section 5.08.

 

Guarantees.

 

 

42

 

 

 

 

 

 

 

 

 

 

ARTICLE 6

 

 

 

 

 

 

 

 

 

 

 

 

 

CONSOLIDATION; MERGER; SALE OF ASSETS

 

 

 

 

 

 

 

 

 

 

 

Section 6.01.

 

Company May Consolidate, Etc., Only on Certain Terms.

 

 

42

 

Section 6.02.

 

Successor Substituted.

 

 

43

 

 

 

 

 

 

 

 

 

 

ARTICLE 7

 

 

 

 

 

 

 

 

 

 

 

 

 

DEFAULT AND REMEDIES

 

 

 

 

 

 

 

 

 

 

 

Section 7.01.

 

Events of Default.

 

 

43

 

Section 7.02.

 

Acceleration; Special Interest; Additional Interest.

 

 

45

 

Section 7.03.

 

Collection of Indebtedness and Suits for Enforcement by Trustee.

 

 

48

 

Section 7.04.

 

Trustee May File Proofs of Claim.

 

 

48

 

Section 7.05.

 

Trustee May Enforce Claims Without Possession of Securities.

 

 

49

 

Section 7.06.

 

Application of Money Collected.

 

 

49

 

Section 7.07.

 

Limitation on Suits.

 

 

50

 

-ii-


 

 

 

 

 

 

 

 

 

 

 

 

Page

 

 

 

 

 

 

 

Section 7.08.

 

Unconditional Right of Holders To Receive Payment and To Cash Convert.

 

 

50

 

Section 7.09.

 

Restoration of Rights and Remedies.

 

 

50

 

Section 7.10.

 

Rights and Remedies Cumulative.

 

 

51

 

Section 7.11.

 

Delay or Omission Not Waiver.

 

 

51

 

Section 7.12.

 

Control by Holders.

 

 

51

 

Section 7.13.

 

Waiver of Past Defaults.

 

 

51

 

Section 7.14.

 

Undertaking for Costs.

 

 

51

 

Section 7.15.

 

Remedies Subject to Applicable Law.

 

 

52

 

 

 

 

 

 

 

 

 

 

ARTICLE 8

 

 

 

 

 

 

 

 

 

 

 

 

 

TRUSTEE

 

 

 

 

 

 

 

 

 

 

 

Section 8.01.

 

Duties of Trustee.

 

 

52

 

Section 8.02.

 

Notice of Default.

 

 

53

 

Section 8.03.

 

Certain Rights of Trustee.

 

 

53

 

Section 8.04.

 

Trustee Not Responsible for Recitals, Dispositions of Securities or Application of Proceeds Thereof.

 

 

55

 

Section 8.05.

 

Trustee and Agents May Hold Securities; Collections; Etc.

 

 

55

 

Section 8.06.

 

Money Held in Trust.

 

 

55

 

Section 8.07.

 

Compensation and Indemnification of Trustee and Its Prior Claim.

 

 

55

 

Section 8.08.

 

Conflicting Interests.

 

 

56

 

Section 8.09.

 

Trustee Eligibility.

 

 

56

 

Section 8.10.

 

Resignation and Removal; Appointment of Successor Trustee.

 

 

57

 

Section 8.11.

 

Acceptance of Appointment by Successor.

 

 

58

 

Section 8.12.

 

Merger, Conversion, Consolidation or Succession to Business.

 

 

58

 

Section 8.13.

 

Preferential Collection of Claims Against Company.

 

 

59

 

Section 8.14.

 

Reports by Trustee.

 

 

59

 

 

 

 

 

 

 

 

 

 

ARTICLE 9

 

 

 

 

 

 

 

 

 

 

 

 

 

SATISFACTION AND DISCHARGE OF INDENTURE

 

 

 

 

 

 

 

 

 

 

 

Section 9.01.

 

Satisfaction and Discharge of Indenture.

 

 

59

 

Section 9.02.

 

Application of Trust Money.

 

 

60

 

Section 9.03.

 

Reinstatement.

 

 

60

 

 

 

 

 

 

 

 

 

 

ARTICLE 10

 

 

 

 

 

 

 

 

 

 

 

 

 

AMENDMENTS; SUPPLEMENTS AND WAIVERS

 

 

 

 

 

 

 

 

 

 

 

Section 10.01.

 

Without Consent of Holders.

 

 

61

 

Section 10.02.

 

With Consent of Holders.

 

 

61

 

Section 10.03.

 

Execution of Supplemental Indentures and Agreements.

 

 

63

 

Section 10.04.

 

Effect of Supplemental Indentures.

 

 

63

 

Section 10.05.

 

Conformity with Trust Indenture Act.

 

 

63

 

Section 10.06.

 

Reference in Securities to Supplemental Indentures.

 

 

63

 

Section 10.07.

 

Notice of Supplemental Indentures.

 

 

63

 

-iii-


 

 

 

 

 

 

 

 

 

 

 

 

Page

 

 

 

 

 

 

 

 

 

ARTICLE 11

 

 

 

 

 

 

 

 

 

 

 

 

 

NOTE GUARANTEES

 

 

 

 

 

 

 

 

 

 

 

Section 11.01.

 

Guarantees.

 

 

63

 

Section 11.02.

 

Severability.

 

 

65

 

Section 11.03.

 

Limitation of Liability.

 

 

65

 

Section 11.04.

 

Contribution.

 

 

65

 

Section 11.05.

 

Subrogation.

 

 

66

 

Section 11.06.

 

Reinstatement.

 

 

66

 

Section 11.07.

 

Release of a Guarantor.

 

 

66

 

Section 11.08.

 

Benefits Acknowledged.

 

 

66

 

 

 

 

 

 

 

 

 

 

ARTICLE 12

 

 

 

 

 

 

 

 

 

 

 

 

 

MISCELLANEOUS

 

 

 

 

 

 

 

 

 

 

 

Section 12.01.

 

Conflict with Trust Indenture Act.

 

 

66

 

Section 12.02.

 

Notices.

 

 

67

 

Section 12.03.

 

Disclosure of Names and Addresses of Holders.

 

 

68

 

Section 12.04.

 

Compliance Certificates and Opinions.

 

 

68

 

Section 12.05.

 

Acts of Holders.

 

 

69

 

Section 12.06.

 

Benefits of Indenture.

 

 

70

 

Section 12.07.

 

Legal Holidays.

 

 

70

 

Section 12.08.

 

Governing Law; Waiver of Trial by Jury.

 

 

70

 

Section 12.09.

 

No Adverse Interpretation of Other Agreements.

 

 

70

 

Section 12.10.

 

No Personal Liability of Directors, Officers, Employees and Stockholders.

 

 

70

 

Section 12.11.

 

Successors and Assigns.

 

 

70

 

Section 12.12.

 

Multiple Counterparts.

 

 

71

 

Section 12.13.

 

Separability Clause.

 

 

71

 

Section 12.14.

 

Schedules and Exhibits.

 

 

71

 

Section 12.15.

 

Effect of Headings and Table of Contents.

 

 

71

 

 

 

 

 

 

 

 

EXHIBIT A
EXHIBIT B
EXHIBIT C
EXHIBIT D

 

Form of Security
Notation of Guarantee
Form of Supplemental Indenture to be Executed by Future Guarantors
Form of Certificate Regarding Restricted Securities Legend Removal

 

 

A-1
B-1
C-1
D-1

 

-iv-


 

CROSS-REFERENCE TABLE

 

 

 

 

 

 

 

 

 

Indenture

TIA Section

 

 

 

Section(s)

Section

 

310(a)(1)

 

8.09

 

 

(a)(2)

 

8.09

 

 

(a)(3)

 

N.A. **

 

 

(a)(4)

 

N.A.

 

 

(a)(5)

 

8.09

 

 

(b)

 

8.08

 

 

(c)

 

N.A.

Section

 

311(a)

 

8.13

 

 

(b)

 

8.05

 

 

(c)

 

N.A.

Section

 

312(a)

 

2.06

 

 

(b)

 

11.03

 

 

(c)

 

11.03

Section

 

313(a)

 

8.14(a)

 

 

(b)(1)

 

N.A.

 

 

(b)(2)

 

8.14(a)

 

 

(c)

 

8.14(a)

 

 

(d)

 

8.14(b)

Section

 

314(a)

 

5.02

 

 

(b)

 

N.A.

 

 

(c)(1)

 

11.04

 

 

(c)(2)

 

11.04

 

 

(c)(3)

 

N.A.

 

 

(d)

 

N.A.

 

 

(e)

 

11.04

 

 

(f)

 

N.A.

Section

 

315(a)

 

8.01(b)

 

 

315(b)

 

8.02

 

 

315(c)

 

8.01(a)

 

 

315(d)

 

8.01(c)

 

 

315(d)(2)

 

8.01(c)

 

 

315(d)(3)

 

8.01(c)

 

 

315(e)

 

7.14

Section

 

316(a) (last sentence)

 

2.10

 

 

316(a)(1)

 

7.12, 7.13

 

 

316(a)(2)

 

N.A.

 

 

316(b)

 

7.08

 

 

316(c)

 

11.05(e)

Section

 

317(a)

 

7.03, 7.04(a)

 

 

317(b)

 

2.04

Section

 

318(a)

 

11.01

 

 

318(c)

 

11.01

 

 

 

 

*

 

This Cross-Reference Table shall not, for any purpose, be deemed a part of this Indenture.

 

 

 

**

 

N.A. means Not Applicable.

-i-


 

     THIS INDENTURE, dated as of September 15, 2008, is among Mylan Inc., a corporation duly organized under the laws of the State of Pennsylvania (the “Company”), the Guarantors (as defined herein) and The Bank of New York Mellon, a New York banking corporation, as Trustee (the “Trustee”).

     In consideration of the purchase of the Securities (as defined herein) by the Holders (as defined herein) thereof, the parties hereto agree as follows for the benefit of one another and for the equal and ratable benefit of the Holders of the Company’s 3.75% Cash Convertible Notes Due 2015.

ARTICLE 1

DEFINITIONS AND INCORPORATION BY REFERENCE

     Section 1.01. Definitions .

     “Affiliate” means, with respect to any specified Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

     “Agent” means any Registrar or Paying Agent.

     “Applicable Procedures” means, with respect to any conversion, transfer or exchange of beneficial ownership interests in a Global Security, the rules and procedures of the Depositary, to the extent applicable to such conversion, transfer or exchange.

     “Attributable Debt” means, in the context of a Sale Leaseback Transaction, the present value, discounted at the interest rate implicit in the lease involved in such Sale Leaseback Transaction, of the lessee’s obligation under the lease for rental payments during the remaining term of such lease, including any period for which such lease has been extended or may, at the option of the lessor, be extended. For purposes of this definition, any amounts the lessee must pay, whether or not designated as rent or additional rent, on account of maintenance and repairs, insurance, taxes, assessments, water rates or similar charges or any amounts the lessee must pay under the lease contingent upon the amount of sales, maintenance and repairs, insurance, taxes, assessments, water rates or similar charges are not included in the determination of the lessee’s obligations under the lease.

     “Bankruptcy Law” means Title 11 of the United States Code entitled “Bankruptcy” or any other law relating to bankruptcy, insolvency, winding up, liquidation, reorganization or relief of debtors, whether in effect on the date hereof or hereafter.

     “Board of Directors” means the board of directors of the Company or of any Guarantor, as the case may be, or any duly authorized committee of such board, or any equivalent body in a limited partnership, limited liability company or other entity serving substantially the same function as a board of directors of a corporation.

     “Board Resolution” means, with respect to any Person, a duly adopted resolution (or other similar action) of the Board of Directors of such Person.

 


 

     “Business Day” means any day other than a Saturday or a Sunday or any other day on which banking institutions in The City of New York are authorized or required by law to close.

     “Capital Lease Obligations” means, with respect to any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP; and, for the purposes of this Indenture, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

     “Capital Markets Debt” means any Indebtedness of the Company for borrowed money described in clause (2) of the definition thereof (other than promissory notes or similar evidence of Indebtedness under a credit agreement or loan agreement) that has an aggregate principal amount of at least $50.0 million.

     “Capital Stock” of any Person means any and all shares, interests, participations, rights in or other equivalents (however designated) of such Person’s capital stock, other equity interests whether now outstanding or issued after the Issue Date, partnership interests (whether general or limited), limited liability company interests, any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person, including any preferred stock, and any rights (other than debt securities convertible into, or exchangeable for, Capital Stock), warrants or options exchangeable for or convertible into such Capital Stock.

     “Cash” or “cash” means such coin or currency of the United States as at any time of payment is legal tender for the payment of public and private debts.

     “cash conversion” with respect to any Security, means the conversion of a Holder’s rights as a Holder of a Security in accordance with Article 4 into the right to receive a cash payment from the Company pursuant to Section 4.02 in the amount determined pursuant to Section 4.12. The terms “cash convert,” “cash convertible” and “cash converted” shall have corresponding meanings.

     “Certificated Security” means a Security that is in substantially the form attached as Exhibit A but that does not include the information or the schedule called for by footnote 1 thereof.

     “Change of Control” means the occurrence of any of the following events (whether or not approved by the Company’s Board of Directors):

     (1) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of Voting Stock representing 50% or more of the total voting power of all outstanding Voting Stock of the Company, other than an acquisition by the Company, any of the Company’s Subsidiaries or any of the Company’s employee benefit plans; provided that this clause (1) shall not apply to a merger of the Company with or into a wholly-owned Subsidiary of a company that has a class of common stock or American Depositary Receipts in respect of common stock traded on the New York Stock Exchange, NASDAQ Global Select Market, NASDAQ Global Market or American Stock Exchange if immediately following the transaction or series of transactions the holders of Common Stock immediately before such transaction are entitled to exercise, directly or indirectly, 50% or more of the voting power of all shares of Capital Stock entitled to vote generally in the election of directors of such company; or

2


 

     (2) the Company consolidates with, or merges with or into, another person or the Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all of its assets to any person other than any such transaction where immediately after such transaction the person or persons that “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) immediately prior to such transaction, directly or indirectly, Voting Stock representing a majority of the total voting power of all outstanding Voting Stock of the Company, “beneficially own or owns” (as so determined), directly or indirectly, Voting Stock representing a majority of the total voting power of the outstanding Voting Stock of the surviving or transferee person and such surviving or transferee person has a class of common stock or American Depositary Receipts in respect of common stock traded on the New York Stock Exchange, NASDAQ Global Select Market, NASDAQ Global Market or the American Stock Exchange; or

     (3) during any consecutive two-year period, the Continuing Directors cease for any reason to constitute a majority of the Board of Directors; or

     (4) the adoption of a plan of liquidation or dissolution of the Company.

Notwithstanding the foregoing, it will not constitute a Change of Control if 90% of the consideration for the Common Stock (excluding cash payments for fractional shares and cash payments made in respect of dissenters’ appraisal rights) in the transaction or transactions constituting the Change of Control consists of common stock or American Depositary Receipts and any associated rights listed on the New York Stock Exchange, NASDAQ Global Select Market, NASDAQ Global Market or the American Stock Exchange, or which will be so traded when issued or exchanged in connection with the Change of Control, and as a result of such transaction or transactions settlement of the Conversion Reference Value of the Securities is thereafter based upon shares of stock, other securities or other property or assets, at least 90% of which is, as of the effective date of such business combination, such common stock or American Depositary Receipts.

     “Closing Price” means, with respect to the Common Stock or any other securities on any Trading Day, the reported last sale price per share (or if no last sale price is reported, the average of the bid and ask prices per share or, if more than one in either case, the average of the average bid and the average ask prices per share) on such date reported by the New York Stock Exchange, or, if the Common Stock or such securities are not listed on the New York Stock Exchange, as reported by the principal national securities exchange on which the Common Stock or such securities are listed, or if no such prices are available, the Closing Price per share shall be the fair value of a share of Common Stock or other security as reasonably determined by the Board of Directors (which determination shall be conclusive and shall be evidenced by an Officer’s Certificate delivered to the Trustee).

     “Common Stock” means the Company’s common stock, par value $0.50 per share, or any successor common stock thereto.

     “Company” means the party named as such in the first paragraph of this Indenture until a successor replaces it pursuant to the applicable provisions of this Indenture, and thereafter “Company” shall mean such successor Company.

     “Company Request” or “Company Order” means a written request or order signed in the name of the Company by any one of its Chairman of the Board, its Chief Executive Officer, its President, its Chief Operating Officer, its Chief Financial Officer or a Vice President (regardless of Vice Presidential designation), and by any one of its Treasurer, an Assistant Treasurer, any other Vice President (regardless of Vice Presidential designation), its Secretary or an Assistant Secretary, and delivered to the Trustee.

3


 

     “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company who was (a) a member of such Board of Directors on the date of this Indenture or (b) nominated for election or elected to such Board of Directors with the approval of a majority of the continuing directors who were members of such board at the time of such nomination or election.

     “Conversion Reference Price” per share of Common Stock as of any day means the result obtained by dividing (i) $1,000 by (ii) the then applicable Conversion Reference Rate, rounded to the nearest cent.

     “Conversion Reference Rate” means initially 75.0751 shares of Common Stock for each $1,000 principal amount of Securities, as adjusted from time to time pursuant to the provisions of this Indenture.

     “Conversion Reference Period” means:

     (1) for Securities that are cash converted during the period beginning on the 45th Scheduled Trading Day prior to the Final Maturity Date and ending on the third Business Day prior to the Final Maturity Date, the 40 consecutive Trading Days commencing on the 42nd Scheduled Trading Day preceding the Final Maturity Date; and

     (2) in all other instances, the 40 consecutive Trading Days beginning on the third Trading Day following the Cash Conversion Trigger Date.

     “Conversion Reference Value” means the sum of the Daily Conversion Reference Values for each of the 40 consecutive Trading Days of the Conversion Reference Period.

     “Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered, which office at the date hereof is located at 101 Barclay Street, 8W, New York, New York 10286, Attention: Corporate Trust Division — Corporate Finance Unit, or such other address as the Trustee may designate from time to time by notice to the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the Company).

     “Credit Facility Debt” means any Indebtedness of the Company for borrowed money that (i) is incurred pursuant to a credit agreement, including pursuant to the Senior Credit Facility, loan agreement or other agreement providing for revolving credit loans, term loans or other long-term debt entered into between the Company and any lender or group of lenders and (ii) has an aggregate principal amount or committed amount of at least $50.0 million.

     “Currency Hedging Agreements” means one or more of the following agreements which shall be entered into by one or more financial institutions: foreign exchange contracts, currency swap agreements or other similar agreements or arrangements designed to protect against the fluctuations in currency values.

     “Custodian” means any receiver, interim receiver, receiver and manager, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law.

     “Daily Conversion Reference Value” means, with respect to any Trading Day, for each $1,000 principal amount of Securities, an amount equal to 1/40th of the product of (i) the Conversion Reference Rate and (ii) the Volume Weighted Average Price per share of Common Stock on such Trading Day.

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     “Default” means any event that is, or after notice or passage of time or both would be, an Event of Default.

     “Definitive Securities” means Certificated Securities that are not Global Securities.

     “Domestic Subsidiary” means a Subsidiary of the Company organized under the laws of the United States of America or any state of the United States of America or the District of Columbia.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time.

     “Fair Market Value” means, with respect to any asset or property, the sale value that would be obtained in an arm’s-length free market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy. Fair Market Value shall be determined by the Board of Directors of the Company acting in good faith and shall be evidenced by a resolution of the Board of Directors of the Company.

     “Final Maturity Date” means September 15, 2015.

     “Fundamental Change” means the occurrence of a Change of Control or a Termination of Trading.

     “Fundamental Change Effective Date” means the date on which any Fundamental Change becomes effective.

     “Fundamental Change Purchase Price” of any Security, means, subject to Section 3.03(d), 100% of the principal amount of the Security to be purchased plus accrued and unpaid interest, if any, to, but excluding, the Fundamental Change Purchase Date.

     “GAAP” means generally accepted accounting principles in the United States of America set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time.

     “Global Security” means a Security in global form that is in substantially the form attached as Exhibit A and that includes the legend called for in footnote 1 thereof and the related schedule and which is deposited with the Depositary or its custodian and registered in the name of the Depositary or its nominee.

     “Guarantee” means the guarantee by any Guarantor of the Company’s obligations under this Indenture in accordance with the provisions of Article 11 hereof.

     “Guarantor” means any Subsidiary of the Company which is a guarantor of the Securities, including any Person that is required after the Issue Date on the date of determination to execute a guarantee of the Securities pursuant to this Indenture, and its successors and assigns, in each case, until the Guarantee of such Person has been released in accordance with the provisions of this Indenture.

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     “Holder” or “Holder of a Security” means the person in whose name a Security is registered on the Registrar’s books.

     “Indebtedness” means, with respect to any Person on any date of determination, without duplication:

     (1) the principal of and premium (if any) in respect of indebtedness of such Person for borrowed money;

     (2) the principal of and premium (if any) in respect of indebtedness of such Person evidenced by bonds, debentures, notes or other similar instruments;

     (3) all Capital Lease Obligations and all Attributable Debt of such Person;

     (4) all obligations of such Person issued or assumed as the deferred purchase price of property, all conditional sale obligations and all obligations under any title retention agreement, in each case to the extent the purchase price is due more than six months from the date the obligation is incurred (but excluding trade accounts payable and other accrued liabilities arising in the ordinary course);

     (5) all obligations for the reimbursement of any obligor on any letter of credit, banker’s acceptance or similar credit transaction;

     (6) guarantees and other contingent obligations in respect of indebtedness referred to in clauses (1) through (5) above and clause (8) below;

     (7) all obligations of any other Person of the type referred to in clauses (1) through (6) which are secured by any lien on any property or asset of such Person, the amount of such obligation being deemed to be the lesser of the Fair Market Value of such property or asset or the amount of the obligation so secured;

     (8) all obligations under Currency Hedging Agreements and all Interest Rate Agreements of such Person; and

     (9) all obligations represented by Redeemable Capital Stock of such Person.

     “Indenture” means this instrument as originally executed (including all exhibits and schedules thereto) and as it may from time to time be supplemented or amended by one or more indentures supplemental hereto entered into pursuant to the applicable provisions hereof, including the provisions of the TIA that are automatically deemed to be part of this Indenture by operation of the TIA, if any.

     “Initial Purchasers” means the initial purchasers named in the Purchase Agreement, dated September 15, 2008, among the Company, the Guarantors and the initial purchasers named therein.

     “Interest Payment Date” means September 15 and March 15 of each year, commencing March 15, 2009.

     “Interest Rate Agreements” means one or more of the following agreements which shall be entered into by one or more financial institutions: interest rate protection agreements (including interest rate

6


 

swaps, caps, floors, collars and similar agreements) and/or other types of interest rate hedging agreements from time to time.

     “Issue Date” means the date of this Indenture.

     “Market Disruption Event” means the occurrence or existence for more than one half hour period in the aggregate on any scheduled Trading Day for the Common Stock of any suspension or limitation imposed on trading (by reason of movements in price exceeding limits permitted by the New York Stock Exchange or otherwise) in the Common Stock or in any options, contracts or future contracts relating to the Common Stock, and such suspension or limitation occurs or exists at any time before 1:00 p.m. (New York City time) on such day.

     “Officer” means the Chairman, any Vice Chairman, the President, the Chief Executive Officer, any Vice President, the Chief Financial Officer, the Chief Operating Officer, the Treasurer or any Assistant Treasurer, or the Secretary or any Assistant Secretary of the Company.

     “Officer’s Certificate” means a certificate signed by an Officer of the Company or of any Guarantor, as the case may be, and delivered to, the Trustee; provided , however , that for purposes of Section 5.03, “Officer’s Certificate” means a certificate signed by the principal executive officer, principal financial officer, principal operating officer, principal accounting officer or treasurer of the Company.

     “Opinion of Counsel” means a written opinion of counsel, who may be an employee of or counsel for the Company or the Trustee and who shall be reasonably acceptable to the Trustee, and which opinion shall contain the statements required by Section 12.04.

     “Person” means any individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

     “Redeemable Capital Stock” means any Capital Stock that, either by its terms or by the terms of any security into which it is convertible or exchangeable or otherwise, is or upon the happening of an event or passage of time would be, required to be redeemed prior to the Final Maturity Date or is redeemable at the option of the Holder thereof at any time prior to the Final Maturity Date (other than upon a change of control of or sale of assets by the Company so long as such instrument provides that such redemption will not be required unless permitted under this Indenture), or is convertible into or exchangeable for debt securities at any time prior to the Final Maturity Date at the option of the holder thereof.

     “Regular Record Date” means, with respect to each Interest Payment Date, the September 1 or March 1, as the case may be, immediately preceding such Interest Payment Date.

     “Sale Leaseback Transaction” means the leasing by the Company or any Subsidiary of any asset, whether owned at the Issue Date or acquired after the Issue Date (except for temporary leases for a term, including any renewal term, of up to three years and except for leases between the Company and any Subsidiary or between Subsidiaries), which property has been or is to be sold or transferred by the Company or such Subsidiary to any party with the intention of taking back a lease of such property.

     “Scheduled Trading Day” means any day that is scheduled to be a Trading Day.

     “SEC” means the U.S. Securities and Exchange Commission.

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     “Securities” means up to $575,000,000 aggregate principal amount of 3.75% Cash Convertible Notes due 2015, or any $1,000 principal amount thereof (each a “Security”), as amended or supplemented from time to time, that are issued under this Indenture.

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as in effect from time to time.

     “Securities Custodian” means the Trustee, as custodian with respect to the Securities in global form, or any successor thereto.

     “Senior Credit Facility” means the Amended and Restated Credit Agreement, dated as of December 20, 2007, by and among the Company, Mylan Luxembourg 5 S.à.r.l., JPMorgan Chase Bank, N.A., as administrative agent, the lenders party thereto and the other parties named therein.

     “Significant Subsidiary” means, with respect to any Person, any Subsidiary (or group of Subsidiaries as to which a specified condition applies) that would be a “significant subsidiary” under Rule 1-02(w) of Regulation S-X under the Securities Act.

     “Special Record Date” for the payment of any Defaulted Interest means a date fixed by the Trustee pursuant to Section 2.16.

     “Stated Maturity” means, with respect to any installment of interest or principal on any Security, the date on which such payment of interest or principal shall become due and payable.

     “Subsidiary” means, with respect to any specified Person: (1) any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); or (2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof).

     “Termination of Trading” means any date on which the Common Stock (or other common stock in respect of which the Conversion Reference Value of the Securities is determined) is not listed on the New York Stock Exchange, NASDAQ Global Select Market, NASDAQ Global Market or the American Stock Exchange or ceases to be so traded in contemplation of a delisting.

     “TIA” means the Trust Indenture Act of 1939, as amended, and the rules and regulations thereunder as in effect on the date of this Indenture, except to the extent that the Trust Indenture Act or any amendment thereto expressly provides for application of the Trust Indenture Act as in effect on another date.

     “Trading Day” means any day on which (i) there is no Market Disruption Event and (ii) the New York Stock Exchange is open for trading, or, if the Common Stock is not listed on the New York Stock Exchange, any day on which the principal national securities exchange on which the Common Stock is listed is open for trading, or, if the Common Stock is not listed on a national securities exchange, any Business Day. A “Trading Day” only includes those days that have a scheduled closing time of 4:00 p.m. (New York City time) or the then standard closing time for regular trading on the relevant exchange or trading system.

8


 

     “Trading Price” of the Securities on any date of determination means, solely for the purposes of Article 4, the average of the secondary market bid quotations obtained by the Trustee for $2.0 million principal amount of Securities at approximately 3:30 p.m., New York City time, on such determination date from three nationally recognized securities dealers the Company selects, which may include the Initial Purchasers, provided that if three such bids cannot reasonably be obtained by the Trustee, but two such bids are obtained, then the average of the two bids shall be used, and if only one such bid can reasonably be obtained by the Trustee, that one bid shall be used. If the Trustee cannot reasonably obtain at least one bid for $2.0 million principal amount of Securities from a nationally recognized securities dealer selected by the Company, then the Trading Price per $1,000 principal amount of Securities will be deemed to be less than 98% of the product of the Closing Price of the Common Stock and the then applicable Conversion Reference Rate per $1,000 principal amount of Securities.

     “Trustee” means the party named as such in the first paragraph of this Indenture until a successor replaces it in accordance with the provisions of this Indenture, and thereafter means the successor.

     “Trust Officer” means, with respect to the Trustee, any officer assigned to the Corporate Trust Division — Corporate Finance Unit (or any successor division or unit) of the Trustee located at the Corporate Trust Office of the Trustee, who shall have direct responsibility for the administration of this Indenture and, for the purposes of Section 8.01(c)(2) and the proviso in Section 8.02, shall also include any other officer of the Trustee to whom any corporate trust matter is referred because of such officer’s knowledge of and familiarity with the particular subject.

     “Vice President” when used with respect to the Company or the Trustee, means any vice president, whether or not designated by a number or a word or words added before or after the title “vice president.”

     “Volume Weighted Average Price” per share of Common Stock on any Trading Day means such price as displayed on Bloomberg (or any successor service) page MYL.N <equity> VAP in respect of the period from 9:30 a.m. to 4:00 p.m., New York City time, on such Trading Day; or, if such price is not available, the Volume Weighted Average Price means the market value per share of the Common Stock on such day as determined by a nationally recognized independent investment banking firm retained for this purpose by the Company.

     “Voting Stock” of any Person means Capital Stock of the class or classes pursuant to which the holders of such Capital Stock have the general voting power under ordinary circumstances to elect at least a majority of the board of directors, managers or trustees of such Person (irrespective of whether or not at the time Capital Stock of any other class or classes shall have or might have voting power by reason of the happening of any contingency).

     Section 1.02. Other Definitions .

 

 

 

 

 

Term

 

Defined in Section

“Act”

 

 

12.05

 

“Additional Shares”

 

 

4.01

 

“Agent Members”

 

 

2.01

 

“Business Combination”

 

 

4.10

 

“Cash Conversion Trigger Date”

 

 

4.02

 

“DTC”

 

 

2.01

 

“Defaulted Interest”

 

 

2.16

 

“Depositary”

 

 

2.01

 

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Term

 

Defined in Section

“Distribution Notice”

 

 

4.01

 

“Event of Default”

 

 

7.01

 

“ex-dividend date”

 

 

4.01

 

“Expiration Time”

 

 

4.06

 

“Fundamental Change Conversion Notice”

 

 

4.01

 

“Fundamental Change Purchase Date”

 

 

3.01

 

“Fundamental Change Purchase Notice”

 

 

3.01

 

“in connection with”

 

 

4.01

 

“Issuer Fundamental Change Notice”

 

 

3.01

 

“Make Whole Premium”

 

 

4.01

 

“Notice of Default”

 

 

7.01

 

“Outstanding”

 

 

2.09

 

“Paying Agent”

 

 

2.03

 

“Primary Registrar”

 

 

2.03

 

“Registrar”

 

 

2.03

 

“Resale Restriction Termination Date”

 

 

2.07

 

“Restricted Security”

 

 

2.07

 

“Security Register”

 

 

2.03

 

“Special Interest”

 

 

7.02

 

“Special Payment Date”

 

 

2.16

 

“Spin-Off”

 

 

4.06

 

“Stock Price”

 

 

4.01

 

     Section 1.03. Trust Indenture Act Provisions .

     Unless the context otherwise requires or indicates, whenever this Indenture refers to a provision of the TIA as being applicable to this Indenture, that provision is incorporated by reference in and made a part of this Indenture. The following TIA term used in this Indenture has the following meaning:

     “obligor” on the indenture securities means the Company or any other obligor on the Securities.

     All other terms used in this Indenture that are defined in the TIA, defined by TIA reference to another statute or defined by any SEC rule and not otherwise defined herein have the meanings assigned to them therein.

     Section 1.04. Rules of Construction .

     For all purposes of this Indenture, except as otherwise provided or unless the context otherwise requires:

(1) a term has the meaning assigned to it;

(2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

(3) words in the singular include the plural, and words in the plural include the singular;

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(4) the term “merger” includes a statutory share exchange and the term “merged” has a correlative meaning;

(5) the masculine gender includes the feminine and the neuter;

(6) the terms “include,” “including” and similar terms should be construed as if followed by the phrase “without limitation”;

(7) references to agreements and other instruments include subsequent amendments thereto; and

     (8) all “Article,” “Exhibit” and “Section” references are to Articles, Exhibits and Sections, respectively, of or to this Indenture unless otherwise specified herein, and the terms “hereunder,” “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.

ARTICLE 2

THE SECURITIES

     Section 2.01. Form and Dating .

     The Securities and the Trustee’s certificate of authentication shall be substantially in the respective forms set forth in Exhibit A, which Exhibit is incorporated in and made part of this Indenture. The Securities may include such letters, numbers or other marks of identification and such notations, legends, endorsements or changes as the Officer executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions of this Indenture, or as may be required by the Trustee, the Depositary, or as may be required to comply with any applicable law or with any rule or regulation made pursuant thereto or with any rule or regulation of any national securities exchange or automated quotation system on which the Securities may be listed or quoted, or to conform to usage, or to indicate any special limitations or restrictions to which any particular Securities are subject. Each Security shall be dated the date of its authentication.

     (a)  Global Securities . All of the Securities initially being offered and sold to the Initial Purchasers shall be issued in the form of one or more Global Securities, which shall be deposited on behalf of the purchasers of the Securities represented thereby with The Bank of New York Mellon, at its Corporate Trust Office, as custodian for the depositary, The Depository Trust Company (“DTC,” and such depositary, or any successor thereto, being hereinafter referred to as the “Depositary”), and registered in the name of its nominee, Cede & Co. (or any successor thereto), for the accounts of participants in the Depositary, duly executed by the Company and authenticated by the Trustee as hereinafter provided. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Securities Custodian as hereinafter provided, subject in each case to compliance with the Applicable Procedures.

     (b)  Global Securities in General . The Global Security shall represent such of the outstanding Securities as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Securities from time to time endorsed thereon and that the aggregate principal amount of outstanding Securities represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges, purchases or conversions of such Securities.

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     Members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depositary or under the Global Security, and the Depositary (including, for this purpose, its nominee) may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. None of the Trustee, the Paying Agent or any Registrar shall have any responsibility or obligation to any beneficial owner in a Global Security, an Agent Member or other Person with respect to the accuracy of the records of the Depositary or its nominee or of any Agent Member, with respect to any ownership interest in the Securities or with respect to the delivery to any Agent Member, beneficial owner or other Person (other than the Depositary) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to Holders under the Securities and this Indenture shall be given or made only to or upon the order of the registered Holders (which shall be the Depositary or its nominee in the case of the Global Security). The rights of beneficial owners in a Global Security shall be exercised only through the Depositary subject to the Applicable Procedures. The Trustee, the Paying Agent and each Registrar shall be entitled to rely and shall be fully protected in relying upon information furnished by the Depositary with respect to its members, participants and any beneficial owners. The Trustee, the Paying Agent and each Registrar shall be entitled to deal with the Depositary, and any nominee thereof, that is the registered Holder of any Global Security for all purposes of this Indenture relating to such Global Security (including the payment of principal, premium, if any, and interest and additional amounts, if any, and the giving of instructions or directions by or to the owner or Holder of a beneficial ownership interest in such Global Security) as the sole Holder of such Global Security and shall have no obligations to the beneficial owners thereof. None of the Trustee, the Paying Agent or any Registrar shall have any responsibility or liability for any acts or omissions of the Depositary with respect to such Global Security, for the records of any such depositary, including records in respect of beneficial ownership interests in respect of any such Global Security, for any transactions between the Depositary and any Agent Member or between or among the Depositary, any such Agent Member and/or any Holder or owner of a beneficial interest in such Global Security, or for any transfers of beneficial interests in any such Global Security.

     Notwithstanding the foregoing, nothing herein shall (1) prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or (2) impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security.

     (c)  Book Entry Provisions . The Company shall execute and the Trustee shall, in accordance with this Section 2.01(c), authenticate and deliver initially one or more Global Securities that (1) shall be registered in the name of the Depositary or its nominee, (2) shall be delivered by the Trustee to the Depositary or pursuant to the Depositary’s instructions and (3) shall bear legends substantially to the following effect:

     “UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS

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AN INTEREST HEREIN. 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 IS EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND, UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.”

     Section 2.02. Execution and Authentication .

     (a) The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture is limited to $575,000,000 aggregate principal amount, except as provided in Sections 2.07, 2.08, 2.11 and 2.18.

     (b) The Securities shall be executed on behalf of the Company by one of its Officers. The signatures of any of the Officers on the Securities may be manual or facsimile.

     (c) Securities bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company shall bind the Company, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities or did not hold such offices at the date of such Securities.

     (d) No Security or Guarantee endorsed thereon shall be entitled to any benefit under this Indenture or be valid or obligatory for any purpose unless there appears on such Security a certificate of authentication substantially in the form provided for herein duly executed by the Trustee by manual signature of an authorized signatory, and such certificate upon any Security shall be conclusive evidence, and the only evidence, that such Security has been duly authenticated and delivered hereunder and is entitled to the benefits of this Indenture.

     (e) The Trustee shall authenticate and make available for delivery Securities for original issue in the aggregate principal amount of $575,000,000 upon receipt of a Company Order. The Company Order shall specify the amount of Securities to be authenticated, shall provide that all such Securities will be represented by a Global Security and the date on which each original issue of Securities is to be authenticated.

     (f) The Trustee shall act as the initial authenticating agent. Thereafter, the Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities. An authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same rights as an Agent to deal with the Company or an Affiliate of the Company.

     (g) The Securities shall be issuable only in registered form without coupons and only in minimum denominations of $1,000 principal amount and any integral multiple thereof.

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     Section 2.03. Registrar and Paying Agent .

     (a) The Company shall maintain one or more offices or agencies where Securities may be presented for registration of transfer or for exchange (each, a “Registrar”), one or more offices or agencies where Securities may be presented or surrendered for payment, including upon cash conversion (each, a “Paying Agent”) and one or more offices or agencies where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served. The Company will at all times maintain a Paying Agent, Registrar and an office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served in the Borough of Manhattan, The City of New York. One of the Registrars (the “Primary Registrar”) shall keep a register of the Securities (the “Security Register”) and of their transfer and exchange. At the option of the Company, any payment of cash may be made by check mailed to the Holders at their addresses set forth in the register of Holders.

     (b) The Company shall enter into an appropriate agency agreement with any Agent not a party to this Indenture, provided that the Agent may be an Affiliate of the Trustee. The agreement shall implement the provisions of this Indenture that relate to such Agent. The Company shall notify the Trustee of the name and address, and any change in the name or address, of any Agent not a party to this Indenture. If the Company fails to maintain a Registrar, Paying Agent or agent for service of notices and demands in any place required by this Indenture, or fails to give the foregoing notice, the Trustee shall act as such. The Company or any Affiliate of the Company may act as Paying Agent (except for the purposes of Article 9).

     (c) The Company hereby initially designates The Bank of New York Mellon as Paying Agent, Primary Registrar and Securities Custodian, and designates the Corporate Trust Office of the Trustee as the office or agency of the Company for each of the aforesaid purposes and as the office or agency where notices and demands to or upon the Company in respect of the Securities and this Indenture may be served.

     Section 2.04. Paying Agent To Hold Money in Trust .

     Unless otherwise specified herein, prior to 10:00 a.m., New York City time, on each due date of the payment of principal of, interest on, or the Conversion Reference Value with respect to, the Securities, the Company shall deposit a sum sufficient to pay such principal, interest or Conversion Reference Value so becoming due. A Paying Agent shall hold in trust for the benefit of Holders of Securities or the Trustee all money held by the Paying Agent for the payment of principal of, interest on, or the Conversion Reference Value with respect to, the Securities, and shall notify the Trustee of any failure by the Company (or any other obligor on the Securities) to make any such payment. If the Company or an Affiliate of the Company acts as Paying Agent, it shall, before 10:00 a.m., New York City time, on each due date of the principal of, interest on, or the Conversion Reference Value with respect to, any Securities, segregate the money and hold it as a separate trust fund for the benefit of the applicable Holders. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee, and the Trustee may at any time during the continuance of any Default, upon written request to a Paying Agent, require such Paying Agent to pay forthwith to the Trustee all sums so held in trust by such Paying Agent. Upon doing so, the Paying Agent (other than the Company) shall have no further liability for the money.

     Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, interest on, or the Conversion Reference Value with respect to, any Security and remaining unclaimed for two years after such principal, interest or Conversion Reference Value has become due and payable shall promptly be paid to the Company or (if then held by the Company) shall be discharged from such trust; and the Holder of such Security shall thereafter, as an un-

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secured general creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided , however , that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in The City of New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money then remaining will promptly be repaid to the Company.

     Section 2.05. [Reserved] .

      Section 2.06. Lists of Holders of Securities .

     The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders of Securities. The Company shall furnish or cause the Registrar to furnish to the Trustee (a) semiannually, not more than 10 days after each Regular Record Date, a list, in such form as the Trustee may reasonably require, of the names and addresses of the Holders as of such Regular Record Date; and (b) at such other times as the Trustee may request in writing, within 30 days after receipt by the Company of any such request, a list of similar form and content to that in subsection (a) hereof as of a date not more than 15 days prior to the time such list is furnished; provided , however , that if and so long as the Trustee shall be the Primary Registrar, no such list need be furnished.

     Section 2.07. Transfer and Exchange .

     (a) Subject to compliance with any applicable additional requirements contained below and in Section 2.13, when a Security is presented to a Registrar with a request to register a transfer thereof or to exchange such Security for an equal principal amount of Securities of other authorized denominations, the Registrar shall register the transfer or make the exchange as requested if its requirements for such transactions are met; provided , however , that every Security presented or surrendered for registration of transfer or exchange shall be duly endorsed or accompanied by an assignment form and, if applicable, a transfer certificate each substantially in the form included in Exhibit A, and completed in a manner satisfactory to the Registrar and duly executed by the Holder thereof or its attorney duly authorized in writing. To permit registration of transfers and exchanges, upon surrender of any Security for registration of transfer or exchange at an office or agency maintained pursuant to Section 2.03, the Company shall execute and the Trustee shall authenticate Securities of a like aggregate principal amount at the Registrar’s request. Any exchange or transfer shall be without charge, except that the Company or the Registrar may require payment of a sum sufficient to cover any transfer tax or similar governmental charge that may be imposed in relation thereto; provided that this sentence shall not apply to any exchange pursuant to Section 2.11, 2.13(a), 4.02(d) or 10.06.

     (b) Neither the Company, any Registrar nor the Trustee shall be required to register the transfer of or exchange any Securities or portions thereof in respect of which a Fundamental Change Purchase Notice has been delivered and not withdrawn by the Holder thereof (except, in the case of the purchase of a Security in part, the portion thereof not to be purchased).

     (c) All Securities issued upon any transfer or exchange of Securities shall be valid obligations of the Company, evidencing the same debt and entitled to the same benefits under this Indenture as the Securities surrendered upon such registration of transfer or exchange.

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     (d) Any Registrar appointed pursuant to Section 2.03 shall provide to the Trustee such information as the Trustee may reasonably require in connection with the delivery by such Registrar of Securities upon transfer or exchange of Securities.

     (e) Each Holder of a Security agrees to indemnify the Company and the Trustee against any liability that may result from the registration of transfer, exchange or assignment of such Holder’s Security in violation of any provision of this Indenture and/or applicable United States federal or state securities law.

     (f) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Agent Members or other beneficial owners of interests in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof.

     (g) In the case of every Security that bears or is required under this Section 2.07(g) to bear the legend set forth in this Section 2.07(g) (the “Restricted Securities”), such Security shall be subject to the restrictions on transfer set forth in this Section 2.07(g) (including the legend set forth below), unless such restrictions on transfer shall be eliminated or otherwise waived by written consent of the Company, and the Holder of each such Restricted Security, by such Holder’s acceptance thereof, agrees to be bound by all such restrictions on transfer. As used in this Section 2.07(g), the term “transfer” encompasses any sale, pledge, transfer or other disposition whatsoever of any Restricted Security.

     Until the later of the date (the “Resale Restriction Termination Date”) that is (1) the date that is one year after the Issue Date of the Securities and (2) such later date, if any, as may be required by applicable laws, any certificate evidencing any Security (and all securities issued in exchange therefor or substitution thereof) shall bear a legend in substantially the following form (unless (i) such Security has been transferred (or exchanged for registered securities) pursuant to a registration statement that was effective at the time of such transfer, (ii) such Security has been transferred pursuant to the exemption from registration provided by Rule 144 under the Securities Act or any similar provision then in force under the Securities Act, or (iii) unless otherwise agreed by the Company in writing, with notice in writing thereof to the Trustee):

THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (THE “SECURITIES ACT”) AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT (A)(1) TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (2) TO AN INSTITUTIONAL ACCREDITED INVESTOR IN A TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, (3) PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT PROVIDED BY RULE 144 THEREUNDER (IF AVAILABLE) OR (4) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (B) IN ACCORDANCE WITH

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ALL APPLICABLE SECURITIES LAWS OF THE STATES OF THE UNITED STATES.

     No transfer of any Security prior to the Resale Restriction Termination Date shall be registered by the Registrar unless the applicable box on the completed Form of Assignment and Transfer (Exhibit A hereto) has been checked and, if such transfer is being made to an institutional accredited investor pursuant to clause (b) of the restricted securities legend on the Securities or pursuant to Rule 144 under the Securities Act pursuant to clause (c) of the restricted securities legend on the Securities, the transferor delivers to the Trustee and the Company any additional information or documents (including, if requested by the Company, legal opinions) as are reasonably requested by the Trustee or the Company so as to confirm that such transfer is being made in compliance with the restrictions set forth in this Section 2.07.

     Any Security (or security issued in exchange or substitution therefor) as to which such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Security for exchange to any Registrar in accordance with the provisions of this Section 2.07(g), be exchanged for a new Security or Securities, of like tenor and aggregate principal amount, which shall not bear the restrictive legend required by this Section 2.07(g). The Company shall notify the Trustee in writing upon the occurrence of the Resale Restriction Termination Date and, if applicable, promptly after a registration statement with respect to the Securities has been declared effective under the Securities Act.

     (h) Following the one year anniversary of the Issue Date, any Security that is purchased or otherwise held by the Company or any affiliate (as defined in Rule 144 under the Securities Act) thereof may not be sold or otherwise transferred by the Company or such affiliate unless (1) such Security is sold or otherwise transferred to the Company or an affiliate (as defined in Rule 144 under the Securities Act) of the Company, (2) such transaction is registered under the Securities Act, or (3) such transaction is made pursuant to an exemption from the registration requirements of the Securities Act that results in such Security not being a “restricted security” (as defined in Rule 144 under the Securities Act) in the hands of the acquirer thereof.

     Notwithstanding the foregoing, during the period of one year after the Issue Date, the Company shall not, and shall not permit any of its “affiliates” (as defined in Rule 144 under the Securities Act) to, resell any of the Securities that constitute “restricted securities” under Rule 144 under the Securities Act that are held by any of them.

     (i) Notwithstanding any provision of Section 2.07 to the contrary, in the event Rule 144 under the Securities Act (or any successor rule) is amended to change the one-year holding period thereunder (or the corresponding period under any successor rule), from and after receipt by the Trustee of the Officers’ Certificate and Opinion of Counsel provided for in this Section 2.07(i), (i) each reference in Section 2.07(g) to “one year” shall be deemed for all purposes hereof to be references to such changed period and (ii) all corresponding references in the Securities (including the definition of Resale Restriction Termination Date) shall be deemed for all purposes hereof to be references to such changed period, provided that such changes shall not become effective if they are otherwise prohibited by, or would otherwise cause a violation of, the then-applicable U.S. securities laws. The provisions of this Section 2.07(i) shall not be effective until such time as the Opinion of Counsel and Officers’ Certificate have been received by the Trustee hereunder. This Section 2.07(i) shall apply to successive amendments to Rule 144 under the Securities Act (or any successor rule) changing the holding period thereunder.

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     Section 2.08. Replacement Securities .

     (a) If (1) any mutilated Security is surrendered to the Trustee, or (2) the Company and the Trustee receive evidence to their satisfaction of the destruction, loss or theft of any Security, and there is delivered to the Company and the Trustee, such security or indemnity, in each case, as may be required by them to save each of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a protected purchaser, the Company shall execute and upon a Company Request the Trustee shall authenticate and deliver, in exchange for any such mutilated Security or in lieu of any such destroyed, lost or stolen Security, a replacement Security of like tenor and principal amount, bearing a number not contemporaneously outstanding and each Guarantor shall execute a replacement Guarantee.

     (b) If any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about to be purchased by the Company pursuant to Article 3, or cash converted pursuant to Article 4, the Company in its discretion may, instead of issuing a new Security, pay, purchase or cash convert such Security, as the case may be.

     (c) Upon the issuance of any new Securities under this Section 2.08, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of counsel and the Trustee) in connection therewith.

     (d) Every new Security and Guarantee issued pursuant to this Section 2.08 in lieu of any mutilated, destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company and each Guarantor, whether or not the mutilated, destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all benefits of this Indenture equally and proportionately with any and all other Securities duly issued hereunder.

     (e) The provisions of this Section 2.08 are (to the extent lawful) exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

     Section 2.09. Outstanding Securities .

     (a) Securities outstanding (“Outstanding”) at any time are all Securities authenticated by the Trustee, except for those canceled by it, those purchased pursuant to Article 3, those cash converted pursuant to Article 4, those delivered to the Trustee for cancellation or surrendered for transfer or exchange and those described in this Section 2.09 as not Outstanding.

     (b) If a Security is replaced pursuant to Section 2.08, such replaced Security ceases to be Outstanding unless the Company receives proof satisfactory to it that the replaced Security is held by a protected purchaser.

     (c) If a Paying Agent holds in respect of the Outstanding Securities on a Fundamental Change Purchase Date, the Final Maturity Date or any date of any cash conversion money sufficient to pay the principal of or Conversion Reference Value with respect to and accrued interest on Securities (or portions thereof) payable on that date, then on and after such Fundamental Change Purchase Date, Final Maturity Date or date of cash conversion, as the case may be, such Securities (or portions thereof, as the case may be) shall cease to be Outstanding and interest on them shall cease to accrue.

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     (d) Subject to the restrictions contained in Section 2.10, a Security does not cease to be Outstanding because the Company or an Affiliate of the Company holds the Security.

     Section 2.10. Treasury Securities .

     In determining whether the Holders of the required principal amount of Securities have concurred in any request, demand, authorization, notice, direction, waiver or consent, Securities owned by the Company or any other obligor on the Securities or by any Affiliate of the Company or of such other obligor shall be disregarded, except that, for purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, notice, direction, waiver or consent, only Securities which a Trust Officer of the Trustee actually knows are so owned shall be so disregarded.

     Section 2.11. Temporary Securities .

     Until Definitive Securities are ready for delivery, the Company may prepare and execute, and, upon receipt of a Company Order, the Trustee shall authenticate and deliver, temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the Company with the consent of the Trustee considers appropriate for temporary Securities. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate and deliver Definitive Securities in exchange for temporary Securities representing an equal principal amount of Securities. The temporary Securities will be exchanged for Definitive Securities in accordance with Sections 2.07 and 2.13 hereof. Until so exchanged, temporary Securities shall have the same rights under this Indenture as the Definitive Securities.

     Section 2.12. Cancellation .

     The Company at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for transfer, exchange, purchase, payment or cash conversion. The Trustee and no one else shall cancel, in accordance with its standard procedures, all Securities surrendered for transfer, exchange, purchase, payment, cash conversion or cancellation and shall dispose of the canceled Securities in accordance with its customary procedures or deliver the canceled Securities to the Company upon request. All Securities which are purchased or otherwise acquired by the Company or any of its Subsidiaries prior to the Final Maturity Date pursuant to Article 3 shall be delivered to the Trustee for cancellation, and the Company may not hold or resell such Securities or issue any new Securities to replace any such Securities or any Securities that any Holder has cash converted pursuant to Article 4. The Trustee shall maintain a record of all canceled Securities. The Trustee shall provide the Company a list of all Securities that have been canceled from time to time as requested by the Company in writing.

     Section 2.13. Legend; Additional Transfer and Exchange Requirements .

     (a) A Global Security may not be transferred, in whole or in part, to any Person other than the Depositary or a nominee or any successor thereof, and no such transfer to any such other Person may be registered; provided that the foregoing shall not prohibit any transfer of a Security that is issued in exchange for a Global Security but is not itself a Global Security. No transfer of a Security to any Person shall be effective under this Indenture or the Securities unless and until such Security has been registered in the name of such Person. Notwithstanding any other provisions of this Indenture or the Securities, transfers of a Global Security, in whole or in part, shall be made only in accordance with this Section 2.13.

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     (b) The provisions below shall apply only to Global Securities:

     (1) Each Global Security authenticated under this Indenture shall be registered in the name of the Depositary or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Security for purposes of this Indenture.

     (2) Notwithstanding any other provisions of this Indenture or the Securities, a Global Security shall not be exchanged in whole or in part for a Security registered, and no transfer of a Global Security in whole or in part shall be registered in the name of any Person other than the Depositary or one or more nominees thereof; provided that a Global Security may be exchanged for Securities registered in the names of any person designated by the Depositary in the event that (A) the Depositary has notified the Company that it is unwilling or unable to continue as Depositary for such Global Security or such Depositary has ceased to be a “clearing agency” registered under the Exchange Act, and in either case a successor Depositary is not appointed by the Company within 90 days after receiving such notice or becoming aware that the Depositary has ceased to be a “clearing agency,” (B) an Event of Default has occurred and is continuing with respect to the Securities or (C) the Company executes and delivers to the Trustee and the Primary Registrar an Officer’s Certificate stating that such Global Security shall be so exchangeable. Any Global Security exchanged pursuant to the preceding sentence shall be so exchanged as directed by the Depositary. Any Security issued in exchange for a Global Security or any portion thereof shall be a Global Security; provided , however , that any such Security so issued that is registered in the name of a Person other than the Depositary or a nominee thereof shall not be a Global Security.

     (3) Securities issued in exchange for a Global Security or any portion thereof that are not issued as a Global Security shall be issued in definitive, fully registered form, without interest coupons, shall have a principal amount equal to that of such Global Security or portion thereof to be so exchanged, shall be registered in such names and be in such authorized denominations as the Depositary shall designate and shall bear the applicable legends provided for herein. Any Global Security to be exchanged in whole shall be surrendered by the Depositary to the Trustee or the Registrar. With regard to any Global Security to be exchanged in part, either such Global Security shall be so surrendered for exchange or, if the Trustee is acting as custodian for the Depositary or its nominee with respect to such Global Security, the principal amount thereof shall be reduced, by an amount equal to the portion thereof to be so exchanged, by means of an appropriate adjustment made on the records of the Trustee and upon such Global Security. Upon any such surrender or adjustment, the Trustee shall authenticate and deliver the Security issuable on such exchange to or upon the order of the Depositary or an authorized representative thereof.

     (4) Subject to clause (6) of this Section 2.13(b), the registered Holder may grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities.

     (5) In the event of the occurrence of any of the events specified in clause (2) of this Section 2.13(b), the Company will promptly make available to the Trustee a reasonable supply of Certificated Securities in definitive, fully registered form, without interest coupons.

     (6) Neither Agent Members nor any other Persons on whose behalf Agent Members may act shall have any rights under this Indenture with respect to any Global Security registered in the name of the Depositary or any nominee thereof, or under any such Global Security, and the

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Depositary or such nominee, as the case may be, may be treated by the Company, the Trustee and any agent of the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or such nominee, as the case may be, or impair, as between the Depositary, its Agent Members and any other Person on whose behalf an Agent Member may act, the operation of customary practices of such Persons governing the exercise of the rights of a Holder of any Security.

     (7) At such time as all interests in a Global Security have been converted, canceled or exchanged for Securities in certificated form, such Global Security shall, upon receipt thereof, be canceled by the Trustee in accordance with standing procedures and instructions existing between the Depositary and the Securities Custodian, subject to Section 2.12 of this Indenture. At any time prior to such cancellation, if any interest in a Global Security is converted, canceled or exchanged for Securities in certificated form, the principal amount of such Global Security shall, in accordance with the standing procedures and instructions existing between the Depositary and the Securities Custodian, be appropriately reduced, and an endorsement shall be made on such Global Security, by the Trustee or the Securities Custodian, at the direction of the Trustee, to reflect such reduction.

     Section 2.14. CUSIP Numbers .

     The Company in issuing the Securities may use one or more “CUSIP,” “ISIN” or other similar numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP,” “ISIN” or other similar numbers in a Fundamental Change Purchase Notice as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any Fundamental Change Purchase Notice and that reliance may be placed only on the other identification numbers printed on the Securities, and any such purchase shall not be affected by any defect in or omission of such numbers. The Company will notify the Trustee in writing of any change in the “CUSIP,” “ISIN” or other similar numbers.

     Section 2.15. Calculations .

     Except as otherwise specifically stated herein or in the Securities, all calculations to be made in respect of the Securities shall be the obligation of the Company. All calculations made by the Company or its agent as contemplated pursuant to the terms hereof and of the Securities shall be made in good faith and be final and binding on the Holders absent manifest error. The Company shall provide a schedule of calculations to the Trustee upon the Trustee’s request, and the Trustee shall be entitled to conclusively rely upon the accuracy of the calculations by the Company without independent verification. The Trustee shall forward calculations made by the Company to any Holder of Securities upon request.

     Section 2.16. Payment of Interest; Interest Rights Preserved .

     Interest on any Security which is payable, and is punctually paid or duly provided for, on the Stated Maturity of such interest shall be paid to the Person in whose name the Security is registered at the close of business on the Regular Record Date for such interest payment.

     Any interest on any Security which is payable, but is not punctually paid or duly provided for, on the Stated Maturity of such interest, and interest on such defaulted interest at the then applicable interest

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rate borne by the Securities, to the extent lawful (such defaulted interest and interest thereon herein collectively called “Defaulted Interest”), shall forthwith cease to be payable to the Holder on the Regular Record Date; and such Defaulted Interest may be paid by the Company, at its election in each case, as provided in subsection (a) or (b) below:

     (a) The Company may elect to make payment of any Defaulted Interest to the Persons in whose names the Securities are registered at the close of business on a Special Record Date for the payment of such Defaulted Interest, which shall be fixed in the following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Interest proposed to be paid on each Security and the date (not less than 20 days after such notice) of the proposed payment (the “Special Payment Date”), and on the date of payment the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the Special Payment Date, such money when deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Interest as in this subsection provided. There upon the Trustee shall fix a Special Record Date for the payment of such Defaulted Interest which shall be not more than 15 days and not less than 10 days prior to the date of the Special Payment Date and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company in writing of such Special Record Date. Unless the Company issues a press release to the same effect, in the name and at the expense of the Company, the Trustee shall cause notice of the proposed payment of such Defaulted Interest and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder at its address as it appears in the Security Register, not less than 10 days prior to such Special Record Date or notify in such other manner as the Trustee determines, including in accordance with any Applicable Procedures. Notice of the proposed payment of such Defaulted Interest and the Special Record Date and Special Payment Date therefor having been so mailed or otherwise conveyed, such Defaulted Interest shall be paid to the Persons in whose names the Securities are registered on such Special Record Date and shall no longer be payable pursuant to the following paragraph (b).

     (b) The Company may make payment of any Defaulted Interest in any other lawful manner not inconsistent with the requirements of any national securities exchange on which the Securities may be listed, and upon such notice as may be required by this Indenture not inconsistent with the requirements of such exchange, if, after written notice given by the Company to the Trustee of the proposed payment pursuant to this subsection, such payment shall be deemed practicable by the Trustee.

     Subject to the foregoing provisions of this Section 2.16, each Security delivered under this Indenture upon registration of transfer of or in exchange for or in lieu of any other Security shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Security.

     Section 2.17. Computation of Interest .

     Interest on the Securities shall be computed on the basis of a 360-day year comprised of twelve 30-day months.

     Section 2.18. Deemed Removal of Restricted Securities Legend; Unrestricted CUSIP .

     At any time on or after the Resale Restriction Termination Date, the Company shall have the option, exercisable in its sole discretion, to remove the restricted securities legend on any Security provided

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for by Section 2.07(g) by delivering a certificate to the Trustee substantially in the form of Exhibit D hereto. Upon receipt of such certificate by the Trustee, the restricted securities legend on any such Securities shall be deemed removed and an unrestricted CUSIP number shall be deemed substituted for the restricted CUSIP number thereon.

ARTICLE 3

PURCHASE

      Section 3.01. Purchase of Securities by the Company for Cash at Option of the Holder upon a Fundamental Change .

     (a) If a Fundamental Change occurs prior to the Final Maturity Date, each Holder of a Security shall have the right, at the option of the Holder, to require the Company to purchase for cash in whole or in part (in principal amounts of $1,000 and integral multiples thereof) the Securities of such Holder at the Fundamental Change Purchase Price on the date specified by the Company that is not less than 30 days and not more than 45 days after the date of the Issuer Fundamental Change Notice (the “Fundamental Change Purchase Date”).

     (b) Not later than 10 Business Days after the Fundamental Change Effective Date, the Company shall mail a written notice of the Fundamental Change and of the resulting purchase right to the Trustee, Paying Agent and to each Holder of record of Securities (an “Issuer Fundamental Change Notice”). The Issuer Fundamental Change Notice shall include the form of a Fundamental Change Purchase Notice (defined below) to be completed by the Holder and shall state:

     (1) the events causing such Fundamental Change;

     (2) the date (or expected date) of such Fundamental Change;

     (3) the last date by which the Fundamental Change Purchase Notice must be delivered to elect the purchase option pursuant to this Section 3.01;

     (4) the Fundamental Change Purchase Date;

     (5) the Fundamental Change Purchase Price;

     (6) the Holder’s right to require the Company to purchase the Securities;

     (7) the name and address of the Paying Agent;

     (8) the then effective Conversion Reference Rate and any adjustments to the Conversion Reference Rate resulting from such Fundamental Change;

     (9) the procedures that the Holder must follow to exercise rights under Article 4 of this Indenture and that the Securities as to which a Fundamental Change Purchase Notice has been given may be cash converted pursuant to Article 4 of this Indenture only to the extent that the Fundamental Change Purchase Notice has been withdrawn in accordance with the terms of this Indenture;

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     (10) the procedures that the Holder must follow to exercise rights under this Section 3.01;

     (11) the procedures for withdrawing a Fundamental Change Purchase Notice;

     (12) that, unless the Company fails to pay such Fundamental Change Purchase Price, Securities covered by any Fundamental Change Purchase Notice will cease to be outstanding and interest will cease to accrue on and after the Fundamental Change Purchase Date; and

     (13) the CUSIP, ISIN or other similar number of the Securities.

     At the Company’s written request, the Trustee shall give such Issuer Fundamental Change Notice in the Company’s name and at the Company’s expense; provided that, in all cases, the text of such Issuer Fundamental Change Notice shall be prepared by the Company. In connection with the delivery of the Issuer Fundamental Change Notice to the Holders, the Company shall publish a notice containing substantially the same information that is required in the Issuer Fundamental Change Notice in a newspaper of general circulation in the City of New York or publish information on a website of the Company or through such other public medium the Company may use at that time. If any of the Securities is in the form of a Global Security, then the Company shall modify such notice to the extent necessary to accord with the Applicable Procedures relating to the purchase of Global Securities.

     (c) A Holder may exercise its rights specified in Section 3.01(a) upon delivery of a written notice (which shall be in substantially the form set forth in the form of Security attached as Exhibit A under the heading “Fundamental Change Purchase Notice” and which may be delivered by letter, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Depositary’s Applicable Procedures) of the exercise of such rights (a “Fundamental Change Purchase Notice”) to the Paying Agent at any time prior to the close of business on the Business Day immediately preceding the Fundamental Change Purchase Date, subject to extension to comply with applicable law.

     (1) The Fundamental Change Purchase Notice shall state: (A) if the Securities are in certificated form, the certificate numbers of the Securities which the Holder will deliver to be purchased (or, if the Security is held in global form, any other items required to comply with the Applicable Procedures), (B) the portion of the principal amount of the Securities which the Holder will deliver to be purchased, which portion must be a principal amount of $1,000 or any integral multiple thereof and (C) that such Security shall be purchased as of the Fundamental Change Purchase Date pursuant to the terms and conditions specified in the Securities and in this Indenture.

     (2) The delivery of a Security for which a Fundamental Change Purchase Notice has been timely delivered to any Paying Agent and not validly withdrawn prior to, on or after the Fundamental Change Purchase Date (together with all necessary endorsements) at the office of such Paying Agent shall be a condition to the receipt by the Holder of the Fundamental Change Purchase Price therefor.

     (3) The Company shall only be obliged to purchase, pursuant to this Section 3.01, a portion of a Security if the principal amount of such portion is $1,000 or an integral multiple thereof. Provisions of this Indenture that apply to the purchase of all of a Security also apply to the purchase of such portion of such Security.

24


 

     (4) Notwithstanding anything herein to the contrary, any Holder delivering to a Paying Agent the Fundamental Change Purchase Notice contemplated by this Section 3.01(c) shall have the right to withdraw such Fundamental Change Purchase Notice in whole or in a portion thereof that is a principal amount of $1,000 or in an integral multiple thereof at any time prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date by delivery of a written notice of withdrawal to the Paying Agent in accordance with Section 3.02(b).

     (5) A Paying Agent shall promptly notify the Company of the receipt by it of any Fundamental Change Purchase Notice or written withdrawal thereof.

     (6) Anything herein to the contrary notwithstanding, in the case of Global Securities, any Fundamental Change Purchase Notice shall be delivered or withdrawn and such Securities shall be surrendered or delivered for purchase in accordance with the Applicable Procedures as in effect from time to time.

     Section 3.02. Effect of Fundamental Change Purchase Notice .

     (a) Upon receipt by any Paying Agent of a properly completed Fundamental Change Purchase Notice from a Holder, the Holder of the Security in respect of which such Fundamental Change Purchase Notice was given shall (unless such Fundamental Change Purchase Notice is withdrawn as specified in Section 3.02(b)) thereafter be entitled to receive the Fundamental Change Purchase Price with respect to such Security. Such Fundamental Change Purchase Price shall be paid to such Holder promptly following the later of (1) the Fundamental Change Purchase Date ( provided that the conditions in Section 3.01 have been satisfied) and (2) the time of delivery of such Security to a Paying Agent by the Holder thereof in the manner required by Section 3.01(c). Securities in respect of which a Fundamental Change Purchase Notice has been given by the Holder thereof may not be cash converted in accordance with the provisions of Article 4 on or after the date of the delivery of such Fundamental Change Purchase Notice unless such Fundamental Change Purchase Notice has first been validly withdrawn in accordance with Section 3.02(b) with respect to the Securities to be cash converted.

     (b) A Fundamental Change Purchase Notice may be withdrawn by means of a written notice (which may be delivered by mail, overnight courier, hand delivery, facsimile transmission or in any other written form and, in the case of Global Securities, may be delivered electronically or by other means in accordance with the Applicable Procedures) of withdrawal delivered by the Holder to a Paying Agent at any time prior to the close of business on the Business Day immediately prior to the Fundamental Change Purchase Date, specifying (1) the principal amount of the Security or portion thereof (which must be a principal amount of $1,000 or an integral multiple of $1,000 in excess thereof) with respect to which such notice of withdrawal is being submitted, (2) if the Securities are in certificated form, the certificate numbers of the Security being withdrawn in whole or in part and (3) the portion of the principal amount of the Security that will remain subject to the Fundamental Change Purchase Notice, which portion must be a principal amount of $1,000 or an integral multiple thereof. Anything herein to the contrary notwithstanding, in the case of Global Securities, any Fundamental Change Purchase Notice shall be withdrawn in accordance with the Applicable Procedures as in effect from time to time.

     Section 3.03. Deposit of Fundamental Change Purchase Price .

     (a) On or before 10:00 a.m. New York City time on the applicable Fundamental Change Purchase Date, the Company shall deposit with the Trustee or with a Paying Agent (or if the Company or an Affiliate of the Company is acting as the Paying Agent, shall segregate and hold in trust as provided in Section 2.04) an amount of money (in immediately available funds if deposited on or after such Funda-

25


 

mental Change Purchase Date), sufficient to pay the aggregate Fundamental Change Purchase Price of all the Securities or portions thereof that are to be purchased as of the Fundamental Change Purchase Date.

     (b) If a Paying Agent or the Trustee holds on the Fundamental Change Purchase Date in accordance with the terms hereof an amount of money sufficient to pay the Fundamental Change Purchase Price of any Security (or portion thereof) for which a Fundamental Change Purchase Notice has been tendered and not withdrawn in accordance with this Indenture then, immediately following the applicable Fundamental Change Purchase Date, whether or not the Security is delivered to the Paying Agent for purchase, such Security shall cease to be outstanding, interest, shall cease to accrue, and the rights of the Holder in respect of the Security shall terminate (other than the right to receive the Fundamental Change Purchase Price upon delivery of the Security as aforesaid).

     (c) The Paying Agent will promptly return to the respective Holders thereof any Securities with respect to which a Fundamental Change Purchase Notice has been withdrawn in compliance with this Indenture.

     (d) If a Fundamental Change Purchase Date falls after a Regular Record Date and on or before the related Interest Payment Date, then interest on the Securities payable on such Interest Payment Date, together with the interest due on the Securities to, but excluding, such Fundamental Change Purchase Date, will be payable to the Holders in whose names the Securities are registered at the close of business on such Regular Record Date.

     Section 3.04. Repayment to the Company .

     To the extent that the aggregate amount of cash deposited by the Company pursuant to Section 3.03 exceeds the aggregate Fundamental Change Purchase Price of the Securities or portions thereof that the Company is obligated to purchase, then promptly after the Fundamental Change Purchase Date the Trustee or a Paying Agent, as the case may be, shall return any such excess cash to the Company, or if such money is then held by the Company in trust, it shall be discharged from the trust.

     Section 3.05. Securities Purchased in Part .

     Any Security that is to be purchased only in part shall be surrendered at the office of a Paying Agent, and promptly after the Fundamental Change Purchase Date, as the case may be, the Company shall execute and the Trustee shall authenticate and deliver to the Holder of such Security, without service charge, a new Security or Securities, of such authorized denomination or denominations as may be requested by such Holder (which must be equal to $1,000 principal amount or any integral multiple thereof), in aggregate principal amount equal to, and in exchange for, the portion of the principal amount of the Security so surrendered that is not purchased.

     Section 3.06. Compliance with Securities Laws upon Purchase of Securities .

     In connection with any offer to purchase Securities under Section 3.01, the Company shall (a) comply with the provisions of the tender offer rules under the Exchange Act which may then be applicable, (b) file the related Schedule TO (or any successor or similar schedule, form or report) if required under the Exchange Act, and (c) otherwise comply with all federal and state securities laws in connection with such offer to purchase or purchase of Securities, all so as to permit the rights of the Holders and obligations of the Company under Sections 3.01 through 3.04 to be exercised in the time and in the manner specified therein. To the extent that compliance with any such laws, rules and regulations would result in

26


 

a conflict with any of the terms hereof, this Indenture is hereby modified to the extent required for the Company to comply with such laws, rules and regulations.

     Section 3.07. Purchase of Securities in Open Market .

     The Company may purchase Securities in the open market or by tender at any price or pursuant to private agreements. The Company shall surrender any Security purchased by the Company pursuant to this Article 3 to the Trustee for cancellation. Any Securities surrendered to the Trustee for cancellation may not be reissued or resold by the Company and will be canceled promptly in accordance with Section 2.12.

ARTICLE 4

CASH CONVERSION

     Section 4.01. Cash Conversion Privilege and Conversion Reference Rate .

     (a) Any Security or portion thereof that is an integral multiple of $1,000 principal amount may be cash converted by the Holder thereof in accordance with the provisions of this Article 4. Upon cash conversion, Holders shall be entitled to receive the amount of cash determined in the manner provided in Section 4.12. Securities may be cash converted prior to the close of business on the third Business Day immediately preceding the Final Maturity Date at the Conversion Reference Rate in effect at the time of such conversion only under the following circumstances:

     (1) on any Business Day in any calendar quarter commencing at any time after December 31, 2008, and only during such calendar quarter, if, as of the last day of the immediately preceding calendar quarter, the Closing Price of the Common Stock for at least 20 Trading Days in the period of 30 consecutive Trading Days ending on the last Trading Day of such preceding calendar quarter was more than 130% of the applicable Conversion Reference Price on the last day of such preceding calendar quarter;

     (2) on any Business Day during the five Business Day period after any five consecutive Trading Day period in which the Trading Price per $1,000 principal amount of Securities, as determined by the Trustee following a request by a Holder in accordance with the procedures described in Section 4.01(b), for each Trading Day of that period was less than 98% of the product of the Closing Price of the Common Stock on such day and the then applicable Conversion Reference Rate per $1,000 principal amount of Securities.

     (3) if the Company distributes to all holders of Common Stock any rights entitling them to purchase, for a period expiring within 45 days of such distribution, Common Stock, or securities convertible into Common Stock, at less than, or having a conversion price per share less than, the Closing Price of the Common Stock on the Trading Day immediately preceding the declaration date for such distribution;

     (4) if the Company distributes to all holders of Common Stock assets, cash, debt securities or rights to purchase the Company’s securities, which distribution has a per share value as determined by the Board of Directors exceeding 15% of the Closing Price per share of the Common Stock on the Trading Day immediately preceding the declaration date for such distribution;

27


 

     (5) if the Company is a party to any transaction or event (including any consolidation, merger or binding share exchange, other than changes resulting from a subdivision or combination) that is not otherwise a Fundamental Change pursuant to which all or substantially all shares of the Common Stock would be converted into cash, securities or other property ( provided that the Securities shall not become cash convertible by reason of a merger, consolidation or other transaction effected by the Company with one of its direct or indirect Subsidiaries for the purpose of changing the Company’s state of incorporation or organization to any other state within the United States or the District of Columbia);

     (6) if a Fundamental Change occurs; or

     (7) at any time during the period beginning on June 15, 2015 and ending at the close of business on the third Business Day immediately preceding the Final Maturity Date.

     (b) The Trustee shall have no obligation to determine the Trading Price of the Securities and whether the Securities are cash convertible pursuant to clause (2) of Section 4.01(a) unless the Company has requested such determination and the Company shall have no obligation to make such request unless a Holder of the Securities provides the Company with reasonable evidence that the Trading Price per $1,000 principal amount of Securities would be less than 98% of the product of the Closing Price of the Common Stock and the then applicable Conversion Reference Rate per $1,000 principal amount of Securities. At such time, the Company shall instruct the Trustee to determine the Trading Price of the Securities beginning on the next Trading Day and on each successive Trading Day until the Trading Price per $1,000 principal amount of the Securities is greater than 98% of the product of the Closing Price of the Common Stock and the then applicable Conversion Reference Rate per $1,000 principal amount of the Securities.

     (c) In the case of a distribution contemplated by clause (3) or (4) of Section 4.01(a), the Company shall notify Holders and the Trustee at least 35 days prior to the ex-dividend date for such distribution (the “Distribution Notice”). Once the Company has given the Distribution Notice, Holders may surrender their Securities for cash conversion at any time until the earlier of the close of business on the Business Day prior to the ex-dividend date or the Company’s announcement that such distribution will not take place. In the event of a distribution contemplated by clause (3) or (4) of Section 4.01(a), Holders may not cash convert the Securities if the Holders will otherwise participate in such distribution on an “as converted” basis ( i.e ., as though such Holder had exchanged each $1,000 principal amount of its Securities immediately prior to the record date for such distribution for a number of shares of Common Stock equal to the then applicable Conversion Reference Rate). “ex-dividend date” is the first date upon which a sale of the Common Stock does not automatically transfer the right to receive the relevant distribution from the seller of the Common Stock to its buyer. The Company will provide written notice to the Paying Agent as soon as reasonably practicable of any anticipated or actual event or transaction that will cause or causes the Securities to become cash convertible pursuant to clauses (3) or (4) of Section 4.01(a).

     (d) In the case of a transaction contemplated by clause (5) of Section 4.01(a), the Company will notify Holders and the Trustee as promptly as practicable following the date the Company publicly announces such transaction (but in no event less than 15 days prior to the anticipated effective date of such transaction). Holders may surrender Securities for cash conversion at any time from and after the date which is 15 days prior to the anticipated effective date of such transaction until the earlier of the date which is 15 days after the actual effective date of such transaction or the date of the Company’s announcement that such transaction will not take place.

28


 

     (e) In the case of a Fundamental Change, the Company shall provide notice thereof (a “Fundamental Change Conversion Notice”) to the Holders of Securities and the Trustee not more than 10 Business Days after the date that is the Fundamental Change Effective Date. Holders may surrender Securities for cash conversion at any time after receipt of such notice and until the close of business on the Trading Day prior to the Fundamental Change Purchase Date.

     (f) The cash conversion rights pursuant to this Article 4 shall commence on the Issue Date and expire at the close of business on the third Business Day immediately preceding the Final Maturity Date, but shall be exercisable only during the time periods specified with respect to each circumstance pursuant to which the Securities become cash convertible, subject, in the case of cash conversion of any Global Security, to any Applicable Procedures.

     (g) Securities in respect of which a Fundamental Change Purchase Notice has been delivered may not be surrendered for cash conversion pursuant to this Article 4 prior to a valid withdrawal of such Fundamental Change Notice, in accordance with the provisions of Article 3.

     (h) Provisions of this Indenture that apply to cash conversion of all of a Security also apply to cash conversion of a portion of a Security.

     (i) The Conversion Reference Rate shall be adjusted in certain instances as provided in Section 4.01(j) and Section 4.06.

     (j) If a Fundamental Change occurs prior to the Final Maturity Date as a result of a transaction described in clauses (1), (2) or (4) of the definition of the term “Change of Control” and a Holder elects to cash convert its Securities in connection with such transaction, the Company shall pay a “Make Whole Premium” if and as required by the below by increasing the applicable Conversion Reference Rate for the Securities surrendered for cash conversion by a number of additional shares of Common Stock as provided in this Section 4.01(j) (the “Additional Shares”). A cash conversion of Securities shall be deemed for these purposes to be “in connection with” such a transaction if the notice of cash conversion is received by the Paying Agent from and including the Fundamental Change Effective Date and prior to the close of business on the Business Day prior to the Fundamental Change Purchase Date.

     The number of Additional Shares per $1,000 principal amount of Securities constituting the Make Whole Premium, if any, shall be determined by reference to the table below and shall be based on the date on which the Fundamental Change Effective Date occurs and the price (the “Stock Price”) paid, or deemed to be paid, per share of Common Stock in such transaction. If holders of Common Stock receive only cash in the Fundamental Change transaction, the Stock Price shall be the cash amount paid per share of Common Stock. Otherwise, the Stock Price shall be the average of the Closing Prices of the Common Stock for each of the ten consecutive Trading Days prior to but excluding the Fundamental Change Effective Date.

     The following table sets forth the Additional Share amounts, if any, by which the applicable Conversion Reference Rate shall be increased for each Stock Price and Fundamental Change Effective Date.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Price on

 

 

Fundamental Change

 

Make Whole Premium upon Fundamental Change (increase in applicable Conversion Reference Rate)

Effective Date

 

9/15/2008

 

9/15/2009

 

9/15/2010

 

9/15/2011

 

9/15/2012

 

9/15/2013

 

9/15/2014

 

9/15/2015

$11.10

 

15.0149

 

15.0149

 

15.0149

 

15.0149

 

15.0149

 

15.0149

 

15.0149

 

15.0149

12.00

 

13.8084

 

12.6777

 

11.4815

 

10.2687

 

9.0050

 

8.2582

 

8.2582

 

8.2582

13.00

 

12.6610

 

11.6098

 

10.4096

 

9.1519

 

7.7488

 

6.2347

 

4.5187

 

1.8480

14.00

 

11.7523

 

10.7592

 

9.5845

 

8.3118

 

6.8755

 

5.2377

 

3.2558

 

0.0000

17.00

 

9.6791

 

8.7937

 

7.8303

 

6.6725

 

5.3641

 

3.8281

 

2.0472

 

0.0000

29


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Price on

 

 

Fundamental Change

 

Make Whole Premium upon Fundamental Change (increase in applicable Conversion Reference Rate)

Effective Date

 

9/15/2008

 

9/15/2009

 

9/15/2010

 

9/15/2011

 

9/15/2012

 

9/15/2013

 

9/15/2014

 

9/15/2015

20.00

 

8.2415

 

7.4835

 

6.6048

 

5.6638

 

4.5538

 

3.2126

 

1.7077

 

0.0000

25.00

 

6.6390

 

6.0014

 

5.3023

 

4.4907

 

3.6179

 

2.5656

 

1.3662

 

0.0000

30.00

 

5.4707

 

5.0369

 

4.4316

 

3.7543

 

3.0074

 

2.1394

 

1.1394

 

0.0000

40.00

 

4.1332

 

3.7335

 

3.3029

 

2.8381

 

2.2573

 

1.6066

 

0.8556

 

0.0000

50.00

 

3.3370

 

3.0104

 

2.6423

 

2.2825

 

1.8059

 

1.2866

 

0.6847

 

0.0000

70.00

 

2.4274

 

2.1863

 

1.9118

 

1.6342

 

1.2888

 

0.9195

 

0.4871

 

0.0000

     If the actual Stock Price or Fundamental Change Effective Date is not set forth in the table above, then:

     (i) if the actual Stock Price on the Fundamental Change Effective Date is between two Stock Price amounts in the table or the actual Fundamental Change Effective Date is between two Fundamental Change Effective Dates in the table, the Additional Share amounts will be determined by a straightline interpolation between the Additional Share amounts set forth for the higher and lower Stock Prices and the two Fundamental Change Effective Dates on the table based on a 365-day year;

     (ii) if the actual Stock Price on the Fundamental Change Effective Date exceeds $70.00 per share of Common Stock, subject to adjustment as set forth herein, no adjustment to the Conversion Reference Rate shall be made; and

     (iii) if the actual Stock Price on the Fundamental Change Effective Date is less than $11.10 per share of Common Stock, subject to adjustment as set forth herein, no adjustment to the Conversion Reference Rate shall be made.

     The Stock Prices set forth in the first column of the table above and in clauses (ii) and (iii) above will be adjusted as of any date on which the Conversion Reference Rate of the Securities is adjusted pursuant to Section 4.06 hereof. The adjusted Stock Prices will equal the Stock Prices applicable immediately prior to such adjustment multiplied by a fraction, the numerator of which is the Conversion Reference Rate immediately prior to the adjustment giving rise to the Stock Price adjustment and the denominator of which is the Conversion Reference Rate as so adjusted. The number of Additional Share amounts set forth in the table above will be adjusted in the same manner as the Conversion Reference Rate as set forth in Section 4.06 hereof.

     Notwithstanding the foregoing, in no event shall the Conversion Reference Rate exceed 90.0900 shares of Common Stock per $1,000 principal amount of Securities, subject to adjustment in the same manner as the Conversion Reference Rate as set forth in subsections (a) through (e) of Section 4.06 hereof.

     Section 4.02. Conversion Procedure .

     (a) To cash convert a Security, a Holder must (1) complete and manually sign the cash conversion notice on the back of the Security (which shall be substantially in the form set forth in the form of Security attached as Exhibit A under the heading “Cash Conversion Notice”) and deliver such notice to the Paying Agent, (2) surrender the Security to the Paying Agent, (3) furnish appropriate endorsements and transfer documents if require


 
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