Exhibit 4.4
Lender Processing Services, Inc.
as Issuer
the Guarantors party hereto
and
U.S. Bank National Association, Corporate Trust Services
as Trustee
Indenture
Dated as of July 2, 2008
8.125%
Senior Notes
Due 2016
CROSS-REFERENCE TABLE
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| TIA Sections |
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Indenture Sections |
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§
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310 |
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(a) |
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7.10 |
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(b) |
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7.08 |
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§
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311 |
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7.03 |
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§
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312 |
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11.02 |
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§
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313 |
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7.06 |
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§
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314 |
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(a) |
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4, 4.02 |
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(c) |
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11.04 |
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(e) |
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11.05 |
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§
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315 |
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(a) |
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7.01, 7.02 |
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(b) |
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7.02, 7.05 |
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(c) |
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7.01 |
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(d) |
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7.02 |
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(e) |
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6.12, 7.02 |
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§
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316 |
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(a) |
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2.05, 6.02, 6.04,
6.05 |
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(b) |
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6.06, 6.07 |
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(c) |
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11.02 |
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§
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317 |
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(a) |
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(1 |
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6.08 |
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(a) |
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(2 |
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6.09 |
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(b) |
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2.03 |
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§
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318 |
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11.01 |
2
RECITALS
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ARTICLE 1
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Definitions And Incorporation By
Reference
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Section 1.01
. Definitions.
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2 |
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Section 1.02.
Rules of Construction
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34 |
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ARTICLE 2
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The Notes
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Section 2.01
. Form, Dating and Denominations; Legends
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34 |
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Section 2.02
. Execution and Authentication; Exchange Notes; Additional
Notes
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36 |
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Section 2.03
. Registrar, Paying Agent and Authenticating Agent; Paying Agent
to Hold Money in Trust
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37 |
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Section 2.04
. Replacement Notes
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37 |
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Section 2.05
. Outstanding Notes
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37 |
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Section 2.06
. Temporary Notes
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38 |
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Section 2.07
. Cancellation
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38 |
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Section 2.08
. CUSIP and CINS Numbers
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39 |
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Section 2.09
. Registration, Transfer and Exchange
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39 |
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Section 2.10
. Restrictions on Transfer and Exchange
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42 |
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Section 2.11
. Temporary Offshore Global Notes
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45 |
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ARTICLE 3
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Redemption; Offer to
Purchase
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Section 3.01
. Optional Redemption
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45 |
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Section 3.02
. Redemption with Proceeds of Equity Offering
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46 |
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Section 3.03
. Method and Effect of Redemption
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46 |
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Section 3.04
. Offer to Purchase
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47 |
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ARTICLE 4
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Covenants
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Section 4.01
. Payment Of Notes
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50 |
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Section 4.02
. Maintenance of Office or Agency
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51 |
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Section 4.03
. Existence
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51 |
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Section 4.04
. Payment of Taxes and other Claims
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51 |
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Section 4.05
. Maintenance of Properties and Insurance
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52 |
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Section 4.06.
Limitation on Debt and Disqualified or Preferred Stock
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52 |
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Section 4.07
. Limitation on Restricted Payments
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57 |
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Section 4.08
. Limitation on Liens
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61 |
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Section 4.09
. Limitation on Sale and Leaseback Transactions
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62 |
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3
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Section 4.10
. Limitation on Dividend and other Payment Restrictions
Affecting Restricted Subsidiaries
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62 |
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Section 4.11
. Guaranties by Restricted Subsidiaries.
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64 |
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Section 4.12
. Repurchase of Notes Upon a Change of Control
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65 |
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Section 4.13
. Limitation on Asset Sales
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65 |
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Section 4.14
. Limitation on Transactions with Shareholders and
Affiliates
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67 |
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Section 4.15
. Designation of Restricted and Unrestricted
Subsidiaries
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69 |
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Section 4.16
. Financial Reports
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71 |
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Section 4.17
. Reports to Trustee
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72 |
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ARTICLE 5
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Consolidation, Merger or Sale of
Assets
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Section 5.01.
Consolidation, Merger or Sale of Assets by the Company; No Lease
of All or Substantially All Assets
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73 |
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Section 5.02.
Consolidation, Merger or Sale of Assets by a Guarantor
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75 |
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ARTICLE 6
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Default and Remedies
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Section 6.01
. Events of Default
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75 |
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Section 6.02
. Acceleration
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77 |
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Section 6.03
. Other Remedies
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77 |
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Section 6.04
. Waiver of Past Defaults
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78 |
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Section 6.05
. Control by Majority
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78 |
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Section 6.06
. Limitation on Suits
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78 |
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Section 6.07
. Rights of Holders to Receive Payment
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79 |
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Section 6.08
. Collection Suit by Trustee
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79 |
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Section 6.09
. Trustee May File Proofs of Claim
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79 |
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Section 6.10
. Priorities
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79 |
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Section 6.11
. Restoration of Rights and Remedies
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80 |
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Section 6.12
. Undertaking for Costs
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80 |
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Section 6.13
. Rights and Remedies Cumulative
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80 |
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Section 6.14
. Delay or Omission Not Waiver
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80 |
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Section 6.15
. Waiver of Stay, Extension or Usury Laws
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81 |
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ARTICLE 7
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The Trustee
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Section 7.01
. General
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81 |
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Section 7.02
. Certain Rights of Trustee
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81 |
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Section 7.03
. Individual Rights of Trustee
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83 |
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Section 7.04
. Trustee’s Disclaimer
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83 |
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Section 7.05
. Notice of Default
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84 |
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Section 7.06
. Reports by Trustee to Holders
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84 |
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Section 7.07
. Compensation And Indemnity
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84 |
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4
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Section 7.08
. Replacement of Trustee
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85 |
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Section 7.09
. Successor Trustee by Merger
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86 |
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Section 7.10
. Eligibility
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86 |
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Section 7.11
. Money Held in Trust
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86 |
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ARTICLE 8
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Defeasance and Discharge
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Section 8.01
. Discharge of Company’s Obligations
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86 |
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Section 8.02
. Legal Defeasance
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87 |
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Section 8.03
. Covenant Defeasance
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88 |
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Section 8.04
. Application of Trust Money
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89 |
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Section 8.05
. Repayment to Company
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89 |
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Section 8.06
. Reinstatement
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89 |
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ARTICLE 9
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Amendments, Supplements and
Waivers
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Section 9.01
. Amendments Without Consent of Holders
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90 |
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Section 9.02
. Amendments With Consent of Holders
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91 |
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Section 9.03
. Effect of Consent
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92 |
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Section 9.04
. Trustee’s Rights and Obligations
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92 |
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Section 9.05
. Conformity With Trust Indenture Act
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92 |
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Section 9.06
. Payments for Consents
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92 |
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ARTICLE 10
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Guaranties
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Section 10.01
. The Guaranties
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93 |
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Section 10.02
. Guaranty Unconditional
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93 |
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Section 10.03
. Discharge; Reinstatement
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94 |
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Section 10.04
. Waiver by the Guarantors
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94 |
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Section 10.05
. Subrogation and Contribution
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94 |
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Section 10.06
. Stay of Acceleration
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94 |
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Section 10.07
. Limitation on Amount of Guaranty
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94 |
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Section 10.08
. Execution and Delivery of Guaranty
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95 |
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Section 10.09
. Release of Guaranty
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95 |
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ARTICLE 11
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Miscellaneous
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Section 11.01
. Trust Indenture Act of 1939
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96 |
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Section 11.02
. Noteholder Communications; Noteholder Actions
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96 |
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Section 11.03
. Notices
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97 |
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Section 11.04
. Certificate and Opinion as to Conditions Precedent
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98 |
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Section 11.05
. Statements Required in Certificate or Opinion
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98 |
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5
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Section 11.06
. Payment Date Other Than a Business Day
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98 |
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Section 11.07
. Governing Law
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99 |
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Section 11.08
. No Adverse Interpretation of Other Agreements
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99 |
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Section 11.09
. Successors
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99 |
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Section 11.10
. Duplicate Originals
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99 |
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Section 11.11
. Separability
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99 |
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Section 11.12
. Table of Contents and Headings
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99 |
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Section 11.13
. No Liability of Directors, Officers, Employees, Incorporators,
Members and Stockholders
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99 |
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6
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EXHIBITS
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EXHIBIT A
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Form of Note |
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EXHIBIT B
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Form of Supplemental
Indenture |
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EXHIBIT C
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Restricted Legend |
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EXHIBIT D
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DTC Legend |
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EXHIBIT E
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Regulation S
Certificate |
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EXHIBIT F
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Rule 144A
Certificate |
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EXHIBIT G
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Institutional Accredited Investor
Certificate |
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EXHIBIT H
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Certificate of Beneficial
Ownership |
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EXHIBIT I
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Temporary Offshore Global Note
Legend |
7
INDENTURE, dated as of July 2,
2008, between Lender Processing Services, Inc., a Delaware
corporation, as the Company, the Guarantors party hereto and U.S.
Bank National Association, Corporate Trust Services, a national
banking association duly organized and existing under the laws of
the United States of America and having a corporate trust office in
Atlanta, Georgia, as Trustee.
RECITALS
The Company has duly authorized the
execution and delivery of the Indenture to provide for the issuance
of up to $375,000,000 aggregate principal amount of the
Company’s 8.125% Senior Notes Due 2016, and, if and when
issued, any Additional Notes, together with any Exchange Notes
issued therefor as provided herein (the “ Notes
”). All things necessary to make the Indenture a valid
agreement of the Company, in accordance with its terms, have been
done, and the Company has done all things necessary to make the
Notes (in the case of the Additional Notes, when duly authorized),
when executed by the Company and authenticated and delivered by the
Trustee and duly issued by the Company, the valid obligations of
the Company as hereinafter provided.
In addition, the Guarantors party
hereto have duly authorized the execution and delivery of the
Indenture as guarantors of the Notes. All things necessary to make
the Indenture a valid agreement of each Guarantor, in accordance
with its terms, have been done, and each Guarantor has done all
things necessary to make the Note Guarantees, when the Notes are
executed by the Company and authenticated and delivered by the
Trustee and duly issued by the Company, the valid obligations of
such Guarantor as hereinafter provided.
This Indenture is subject to, and
will be governed by, the provisions of the Trust Indenture Act that
are required to be a part of and govern indentures qualified under
the Trust Indenture Act.
THIS INDENTURE WITNESSETH
For and in consideration of the
premises and the purchase of the Notes by the Holders thereof, the
parties hereto covenant and agree, for the equal and proportionate
benefit of all Holders, as follows:
ARTICLE 1
Definitions And
Incorporation By Reference
Section 1.01 .
Definitions.
“ Acquired Debt ”
means Debt of a Person (x) existing at the time the Person
merges with or into or becomes a Restricted Subsidiary or
(y) assumed in connection with the acquisition of assets from
such Person, in each case not Incurred in connection with, or in
contemplation of, the Person merging with or into or becoming a
Restricted Subsidiary or such acquisition of assets; provided,
however , that Debt of such acquired Person or assumed in
connection with such acquisition of assets that is redeemed,
defeased, retired or otherwise repaid at the time of or immediately
upon consummation of the transactions by which such Person merges
with or into or becomes a Restricted Subsidiary of such Person or
such assets are acquired shall not be Acquired Debt.
“ Additional Interest
” means additional interest owed to the Holders pursuant to a
Registration Rights Agreement.
“ Additional Notes
” means any Notes issued under the Indenture in addition to
the Original Notes, including any Exchange Notes issued in exchange
for such Additional Notes, having the same terms in all respects as
the Original Notes except that interest will accrue on the
Additional Notes from their date of issuance.
“ Affiliate ”
means, with respect to any Person, any other Person directly or
indirectly controlling, controlled by, or under direct or indirect
common control with, such Person. For purposes of this definition,
“control” (including, with correlative meanings, the
terms “controlling,” “controlled by” and
“under common control with”) with respect to any
Person, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities, by
contract or otherwise. For the avoidance of doubt, Fidelity
National Financial, Inc. and, from and after the Spin-Off, Fidelity
National Information Services, Inc. and each of their respective
Subsidiaries shall not be deemed to be Affiliates of the Company or
any of its Restricted Subsidiaries solely due to overlapping
officers or directors.
“ Agent ” means
any Registrar, Paying Agent or Authenticating Agent.
“ Agent Member ”
means a member of, or a participant in, the Depositary.
“ Applicable Premium
” means, with respect to any Notes on any Redemption Date,
the greater of:
(1) 1.0% of the principal amount of
such Notes, and
2
(2) the excess, if any, of
(a) the present value at such Redemption Date of (i) the
redemption price of such Notes at July 1, 2011 (such
redemption price being set forth in the table appearing above under
“ Optional Redemption ”), plus (ii) all
required remaining scheduled interest payments due on such Notes
through July 1, 2011, computed using a discount rate equal to
the Treasury Rate as of such Redemption Date plus 50 basis points;
over (b) the principal amount of such Notes.
“ Asset Sale ”
means any sale, lease, transfer or other disposition of any assets
by the Company or any Restricted Subsidiary, including by means of
a merger, consolidation or similar transaction and including any
sale or issuance of the Equity Interests (other than
directors’ qualifying shares or to the extent required by
applicable law) of any Restricted Subsidiary (each of the above
referred to as a “disposition”), provided that
the following are not included in the definition of “Asset
Sale”:
(1) a disposition to the Company or a
Restricted Subsidiary, including the sale or issuance by the
Company or any Restricted Subsidiary of any Equity Interests of any
Restricted Subsidiary to the Company or any Restricted
Subsidiary;
(2) the disposition by the Company or
any Restricted Subsidiary in the ordinary course of business of
(i) cash and cash management investments, including without
limitation investments held pursuant to Cash Management Practices,
(ii) inventory and other assets acquired and held for resale
in the ordinary course of business, (iii) damaged, surplus, worn
out or obsolete assets, or (iv) rights granted to others
pursuant to leases or licenses;
(3) the sale or discount of accounts
receivable arising in the ordinary course of business in connection
with the compromise or collection thereof or the conversion or
exchange of accounts receivable for notes receivable;
(4) a transaction covered the
provisions under Section 5.01 or any disposition constituting
a Change of Control;
(5) a Restricted Payment permitted
under Section 4.07 or a Permitted Investment;
(6) a Sale and Leaseback Transaction,
provided that at least 75% of the consideration paid to the
Company or the Restricted Subsidiary for such Sale and Leaseback
Transaction consists of cash received at closing,
(7) the issuance of Disqualified or
Preferred Stock pursuant to Section 4.06;
3
(8) leases, subleases, licenses or
sublicenses of property in the ordinary course of business and
which do not materially interfere with the business of the Company
or any Restricted Subsidiary;
(9) dispositions in the ordinary
course of business consisting of the abandonment of intellectual
property which, in the reasonable good faith determination of the
Company, are not material to the conduct of the business of the
Company or any Restricted Subsidiary;
(10) dispositions of real property
and related assets in the ordinary course of business in connection
with relocation activities for directors, officers, members of
management, employees or consultants of the Company or any
Restricted Subsidiary;
(11) dispositions of tangible
property in the ordinary course of business as part of a like-kind
exchange under Section 1031 of the Code;
(12) the creation of Permitted Liens
and dispositions in connection with Permitted Liens;
(13) the issuance of Preferred Stock
by a Guarantor that is permitted by the Indenture;
(14) the unwinding of obligations
under Hedging Agreements;
(15) any “fee in lieu” or
other disposition of assets to any governmental authority or agency
that continue in use by the Company or any Restricted Subsidiary,
so long as the Company or any Restricted Subsidiary may obtain
title to such assets upon reasonable notice by paying a nominal
fee;
(16) any disposition arising from
foreclosure, condemnation or similar action with respect to any
property or other assets, or exercise of termination rights under
any lease, license, concession or other agreement;
(17) any disposition of securities of
an Unrestricted Subsidiaries and any disposition of a Permitted
Investment (other than Equity Interests of any Restricted
Subsidiary) made by the Company or any Restricted Subsidiary after
the Issue Date, if such Permitted Investment was (a) received
in exchange for, or purchased out of the Net Cash Proceeds of the
substantially concurrent sale (other than to a Subsidiary of the
Company) of, Qualified Equity Interests of the Company or
(b) received in the form of, or was purchased from the
proceeds of, a substantially concurrent contribution of common
equity capital to the Company; provided that any such
proceeds or contributions in clauses (a) or (b) shall be
excluded from paragraph (3) of Section 4.07(a);
4
(18) any dispositions of
Securitization Assets (or a fractional undivided interest therein)
in a Securitization Financing permitted under the Indenture;
or
(19) any disposition in a transaction
or series of related transactions of assets with a fair market
value of less than $15.0 million.
“ Attributable Debt
” means, in respect of a Sale and Leaseback Transaction the
present value, discounted at the interest rate implicit in the Sale
and Leaseback Transaction, of the total obligations of the lessee
for rental payments during the remaining term of the lease in the
Sale and Leaseback Transaction.
“ Authenticating Agent
” refers to a Person engaged to authenticate the Notes in the
stead of the Trustee.
“ Average Life ”
means, as of the date of determination, with respect to any Debt or
Preferred Stock, the quotient obtained by dividing (i) the sum
of the products of (x) the number of years (calculated to the
nearest one-twelfth) from the date of determination to the dates of
each successive scheduled principal payment of such Debt or
redemption or similar payment with respect to such Preferred Stock
and (y) the respective amounts of such payments by
(ii) the sum of all such payments.
“ bankruptcy default
” has the meaning assigned to such term in
Section 6.01.
“ Board of Directors
” means the board of directors or comparable governing body
of the Company, or any committee thereof duly authorized to act on
its behalf.
“ Board Resolution
” means a resolution duly adopted by the Board of Directors
which is certified by the Secretary or an Assistant Secretary of
the Company and remains in full force and effect as of the date of
its certification.
“ Business Day ”
means each day which is not a Saturday, a Sunday or a day on which
commercial banking institutions are not required to be open in the
State of New York or place of payment.
“ Capital Lease ”
means, with respect to any Person, any lease of any property which,
in conformity with GAAP, is required to be capitalized on the
balance sheet of such Person.
“ Capital Stock ”
means
(1) in the case of a
corporation, corporate stock;
5
(2) in the case of an
association or business entity, any and all shares, interests,
participations, rights or other equivalents (however designated) of
corporate stock;
(3) in the case of a partnership
or limited liability company, partnership interests (whether
general or limited) or membership interests; and
(4) 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.
“ Cash Equivalents
” means
(1) United States dollars, or money
in other currencies received in the ordinary course of
business,
(2) U.S. Government Obligations or
certificates representing an ownership interest in U.S. Government
Obligations with maturities not exceeding one year from the date of
acquisition,
(3) securities issued by any state of
the United States or any political subdivision of any such state or
any public instrumentality thereof having maturities of not more
than 12 months from the date of acquisition thereof and, at
the time of acquisition, having a rating of at least
“A-2” or “P-2” (or long-term ratings of at
least “A3” or “A-”) from either S&P or
Moody’s, or, with respect to municipal bonds, a rating of at
least MIG 2 or VMIG 2 from Moody’s (or the equivalent
thereof),
(4) (i) demand deposits,
(ii) time deposits and certificates of deposit with maturities
of one year or less from the date of acquisition,
(iii) domestic and eurodollar certificates of bankers’
acceptances with maturities not exceeding one year from the date of
acquisition, and (iv) overnight bank deposits, in each case
with any bank or trust company organized or licensed under the laws
of the United States or any state thereof having capital, surplus
and undivided profits in excess of $500 million whose
short-term debt is rated “A-2” or higher by S&P or
“P-2” or higher by Moody’s,
(5) repurchase obligations with a
term of not more than thirty days for underlying securities of the
type described in clauses (2) and (3) above entered into
with any financial institution meeting the qualifications specified
in clause (3) above,
(6) commercial paper maturing not
more than 12 months after the date of creation thereof and, at
the time of acquisition, having a rating of at least A-1 or P-1
from either S&P or Moody’s and commercial paper
6
maturing not
more than 90 days after the creation thereof and, at the time
of acquisition, having a rating of at least A-2 or P-2 from either
S&P or Moody’s,
(7) money market funds at least 95%
of the assets of which consist of investments of the type described
in clauses (1) through (6) above,
(8) fixed maturity securities which
are rated BBB- and above by S&P or Baa3 and above by
Moody’s; provided that the aggregate amount of Investments by
any Person in fixed maturity securities which are rated BBB+, BBB
or BBB- by S&P or Baa1, Baa2 or Baa3 by Moody’s shall not
exceed 10% of the aggregate amount of Investments in fixed maturity
securities by such Person, and
(9) in case of a Foreign Restricted
Subsidiary, substantially similar investments, of comparable credit
quality, denominated in the currency of any jurisdiction in which
such Person conducts business.
“ Cash Management
Practices ” means the cash, Cash Equivalent and
short-term investment management practices of the Company and its
Restricted Subsidiaries as approved by the Board of Directors or
chief financial officer of the Company from time to time, including
any Debt of the Company and its Restricted Subsidiaries having a
maturity of 92 days or less representing borrowings from any
financial institution with which the Company and its Restricted
Subsidiaries have a depository or other investment relationship in
connection with such practices (or any Affiliate of such financial
institution), which borrowings may be secured by the cash, Cash
Equivalents and other short-term investments purchased by the
relevant Person with the proceeds of such borrowings.
“ Certificate of Beneficial
Ownership ” means a certificate substantially in the form
of Exhibit H.
“ Certificated Note
” means a Note in registered individual form without interest
coupons.
“ Change of Control
” means:
(1) the merger or consolidation of
the Company with or into another Person or the merger of another
Person with or into the Company or the merger of any Person with or
into a Subsidiary of the Company if Capital Stock of the Company is
issued in connection therewith, or the sale of all or substantially
all the assets of the Company to another Person, unless holders of
a majority of the aggregate voting power of the Voting Stock of the
Company, immediately prior to such transaction, hold
7
securities of
the surviving or transferee Person that represent, immediately
after such transaction, at least a majority of the aggregate voting
power of the Voting Stock of the surviving Person;
(2) any “person” or
“group” (as such terms are used for purposes of
Sections 13(d) and 14(d) of the Exchange Act) is or becomes the
“beneficial owner” (as such term is used in
Rules 13d-3 under the Exchange Act), directly or indirectly,
of more than 50% of the total voting power of the Voting Stock of
the Company;
(3) during any period of twelve
consecutive months, individuals who on the Issue Date (after giving
effect to the Spin-off) constituted the Board of Directors,
together with any new directors whose election by the Board of
Directors or whose nomination for election by the stockholders of
the Company was approved by a majority of the directors then still
in office who were either directors or whose election or nomination
for election was previously so approved, cease for any reason to
constitute a majority of the Board of Directors then in office;
or
(4) the adoption of a plan relating
to the liquidation or dissolution of the Company.
“ Change of Control
Offer ” has the meaning assigned to such term in
Section 4.12.
“ Code ” means the
Internal Revenue Code of 1986.
“ Common Stock ”
means Capital Stock not entitled to any preference on dividends or
distributions, upon liquidation or otherwise.
“ Company ” means
the party named as such in the first paragraph of the Indenture or
any successor obligor under the Indenture and the Notes pursuant to
Section 5.01.
“ Consolidated Net
Income ” means, as of any date for the applicable period
ending on such date with respect to any Person and its Restricted
Subsidiaries on a consolidated basis, net income (excluding,
without duplication, (i) extraordinary items and (ii) any
amounts attributable to Investments in any Joint Venture to the
extent that (A) such amounts were not earned by such Joint
Venture during the applicable period, (B) there exists any
legal or contractual encumbrance or restriction on the ability of
such Joint Venture to pay dividends or make any other distributions
in cash on the Equity Interests of such Joint Venture held by such
Person and its Subsidiaries, but only to the extent so encumbered
or restricted or (C) such Person does not have the right to
receive or the ability to cause to be distributed its pro rata
share of all earnings of such Joint
8
Venture)
as determined in accordance with GAAP; provided that
Consolidated Net Income for any such period shall not
include:
(1) the net income (but not loss) of
any non-Guarantor Restricted Subsidiary to the extent that the
declaration or payment of dividends or similar distributions by
such non-Guarantor Restricted Subsidiary of such net income would
not have been permitted for the relevant period by charter or by
any agreement; instrument; judgment, decree, order, statue, rule or
governmental regulation applicable to such non-Guarantor Restricted
Subsidiary;
(2) the cumulative effect of a change
in accounting principles during such period;
(3) any net after-tax income or loss
(less all fees and expenses or charges relating thereto)
attributable to the early extinguishment of Debt;
(4) any non-cash charges resulting
from mark-to-market accounting relating to Equity Interests;
and
(5) any non-cash impairment charges
resulting from the application of Statement of Financial Accounting
Standards No. 142 — Goodwill and Other Intangibles and
No. 144 — Accounting for the Impairment or Disposal of
Long-Lived Assets and the amortization of intangibles including
arising pursuant to Statement of Financial Accounting Standards No.
141 — Business Combinations.
“ Corporate Trust Office
” means the office of the Trustee at which the corporate
trust business of the Trustee is principally administered, which at
the date of the Indenture is located at 1349 W. Peachtree Street,
Suite 1050, Atlanta, GA 30309.
“ Credit Agreement
” means the credit agreement dated on or about the Issue Date
among the Company, the lenders party thereto and JPMorgan Chase
Bank, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer, together with any related documents (including any security
documents and guarantee agreements), any Notes and letters of
credit issued pursuant thereto and any guarantee and collateral
agreements, mortgages or letter of credit applications and other
guarantees, pledge agreements, security agreements and collateral
documents, in each case as the same may be amended, supplemented,
waived or otherwise modified from time to time, or refunded,
refinanced, restructured, replaced, renewed, repaid, increased or
extended from time to time (whether in whole or in part, whether
with the original banks, lenders or institutions or other banks,
lenders or institutions or otherwise, and whether provided under
one or more other credit agreements, indentures (including the
Indenture governing the
9
Notes),
financing agreements or otherwise). Without limiting the generality
of the foregoing, the term “Credit Agreement” shall
include any agreement (i) changing the maturity of any Debt
Incurred thereunder or contemplated thereby, (ii) adding
Subsidiaries as additional borrowers or guarantors thereunder,
(iii) increasing the amount of Debt Incurred thereunder or
available to be borrowed thereunder or (iv) otherwise altering
the terms and conditions thereof.
“ Credit Facilities
” means one or more of (i) the Credit Agreement, and
(ii) any other facilities or arrangements designated by the
Company, in each case with one or more banks or other lenders or
institutions providing for one or more revolving credit loans, term
loans, any Securitization Financing, receivables financings
(including without limitation through the sale of receivables to
such institutions or to special purpose entities formed to borrow
from such institutions against such receivables or the creation of
any Liens in respect of such receivables in favor of such
institutions), letters of credit or other Debt, in each case,
including all agreements, instruments and documents executed and
delivered pursuant to or in connection with any of the foregoing,
including but not limited to any Notes and letters of credit issued
pursuant thereto and any guarantee and collateral agreement,
mortgages or letter of credit applications and other guarantees,
pledge agreements, security agreements and collateral documents, in
each case as the same may be amended, supplemented, waived or
otherwise modified from time to time, or refunded, refinanced,
restructured, replaced, renewed, repaid, increased or extended from
time to time (whether in whole or in part, whether with the
original banks, lenders or institutions or other banks, lenders or
institutions or otherwise, and whether provided under any original
Credit Facility or one or more other credit agreements, indentures
(including the Indenture governing the Notes), financing agreements
or other Credit Facilities or otherwise). Without limiting the
generality of the foregoing, the term “Credit Facility”
shall include any agreement (i) changing the maturity of any
Debt Incurred thereunder or contemplated thereby, (ii) adding
Subsidiaries as additional borrowers or guarantors thereunder,
(iii) increasing the amount of Debt Incurred thereunder or
available to be borrowed thereunder or (iv) otherwise altering
the terms and conditions thereof.
“ Debt ” means,
with respect to any Person at any date of determination, without
duplication,
(1) all indebtedness of such Person
for borrowed money;
(2) all obligations of such Person
evidenced by bonds, debentures, notes or other similar
instruments;
(3) all obligations of such Person in
respect of letters of credit, bankers’ acceptances or other
similar instruments , excluding obligations in respect of trade
letters of credit or bankers’ acceptances issued in respect
of trade payables to the extent not drawn upon or presented, or,
if
10
drawn upon or
presented, the resulting obligation of the Person is paid within 20
Business Days;
(4) all obligations of such Person to
pay the deferred and unpaid purchase price of property or services
which are recorded as liabilities under GAAP, excluding trade
payables arising in the ordinary course of business;
(5) all obligations of such Person as
lessee under Capital Leases;
(6) indebtedness or similar financing
obligations of such Person under any Securitization
Financing;
(7) the principal component of all
Debt of other Persons Guaranteed by such Person to the extent so
Guaranteed by such Person;
(8) all Debt of other Persons secured
by a Lien on any asset of such Person, whether or not such Debt is
assumed by such Person; and
(9) all obligations of such Person
under Hedging Agreements.
The
amount of Debt of any Person will be deemed to be:
(A) with respect to contingent
obligations, the maximum liability upon the occurrence of the
contingency giving rise to the obligation;
(B) with respect to Debt secured by a
Lien on an asset of such Person but not otherwise the obligation,
contingent or otherwise, of such Person, the lesser of (x) the
fair market value of such asset on the date the Lien attached and
(y) the amount of such Debt;
(C) with respect to any Debt issued
with original issue discount, the face amount of such Debt less the
remaining unamortized portion of the original issue discount of
such Debt;
(D) with respect to any Hedging
Agreement, the net amount payable if such Hedging Agreement
terminated at that time due to default by such Person; and
(E) otherwise, the outstanding
principal amount thereof together with any interest thereon that is
more than 30 days past due.
The
accrual of interest, accrual of dividends, the accretion of
accreted value, the payment of interest in the form of additional
Debt, and the payment of dividends in the form of additional shares
of Preferred Stock or Disqualified Stock will not be deemed to be
an Incurrence of Debt for purposes of Section 4.06 provided
that such accruals, accretion or payment will constitute Fixed
Charges.
11
“ Default ” means
any event that is, or after notice or passage of time or both would
be, an Event of Default.
“ Depositary ”
means the depositary of each Global Note, which will initially be
DTC.
“ Disqualified Equity
Interests ” means Equity Interests that by their terms or
upon the happening of any event are
(1) required to be redeemed or
redeemable at the option of the holder prior to the Stated Maturity
of the Notes for consideration other than Qualified Equity
Interests, or
(2) convertible at the option of the
holder into Disqualified Equity Interests or exchangeable for Debt
(excluding Capital Stock which is convertible or exchangeable
solely at the option of the Company or a Restricted
Subsidiary);
provided that Equity Interests will not constitute
Disqualified Equity Interests solely because of provisions giving
holders thereof the right to require repurchase or redemption upon
an “asset sale” or “change of control”
occurring prior to the Stated Maturity of the Notes if those
provisions
(A) are no more favorable to the
holders than Section 4.12 and Section 4.13, and
(B) specifically state that
repurchase or redemption pursuant thereto will not be required
prior to the Company’s repurchase of the Notes as required by
the Indenture.
“ Disqualified Stock
” means Capital Stock constituting Disqualified Equity
Interests.
“ DTC ” means The
Depository Trust Company, a New York corporation, and its
successors.
“ DTC Legend ”
means the legend set forth in Exhibit D.
“ Domestic Restricted
Subsidiary ” means any Restricted Subsidiary formed under
the laws of the United States of America or any jurisdiction
thereof.
“ EBITDA ” means,
for any period, the sum of:
(1) Consolidated Net Income,
plus
(2) Fixed Charges, to the extent
deducted in calculating Consolidated Net Income, including letter
of credit fees, plus
12
(3) to the extent deducted in
calculating Consolidated Net Income and as determined on a
consolidated basis for the Company and its Restricted Subsidiaries
in conformity with GAAP:
(A) income, franchise and similar
taxes, other than income taxes or income tax adjustments (whether
positive or negative) attributable to Asset Sales, extinguishment
of Debt or extraordinary gains or losses; and
(B) depreciation, amortization
(including amortization of financing costs, intangibles, goodwill
and organization costs) and all other non-cash items reducing
Consolidated Net Income (not including non-cash charges in a period
which reflect cash expenses paid or to be paid in another period),
less all non-cash items increasing Consolidated Net Income;
provided
that, with respect to any Restricted Subsidiary, the items set
forth in (A) and (B) above will be added only to the
extent and in the same proportion that the relevant Restricted
Subsidiary’s net income was included in calculating
Consolidated Net Income, plus
(4) net after-tax losses attributable
to Asset Sales outside the ordinary course of business, to the
extent reducing Consolidated Net Income, plus
(5) non-recurring charges so long as
such charges do not exceed $10.0 million during any fiscal
year, plus
(6) to the extent covered by
insurance, expenses with respect to liability or casualty events or
business interruption, plus
(7) to the extent actually
reimbursed, expenses Incurred to the extent covered by
indemnification provisions in any agreement in connection with an
Investment, plus
(8) cash expenses Incurred in
connection with the Spin-Off or any Investment permitted under
Section 4.07, the issuance and sale of Qualified Equity
Interests or the issuance or refinancing of Debt (in each case,
whether or not consummated), minus
(9) an amount which, in the
determination of Consolidated Net Income, has been included for (i)
(A) non-cash gains (other than with respect to cash actually
received) and (B) all extraordinary gains, and (ii) any
gains realized upon an Asset Sale of property outside of the
ordinary course of business, plus/minus
(10) unrealized losses/gains in
respect of Swap Contracts.
13
“ Equity Interests
” means all Capital Stock and all warrants, profits,
interests, equity appreciation rights or options with respect to,
or other rights to purchase, Capital Stock, but excluding Debt
convertible into equity.
“ Equity Offering
” means (i) an underwritten primary public offering,
after the Issue Date, of Qualified Stock of the Company pursuant to
an effective registration statement under the Securities Act other
than an issuance registered on Form S-4 or S-8 or any successor
thereto or any issuance pursuant to employee benefit plans or
otherwise in compensation to officers, directors or employees or
(ii) a sale of Capital Stock of any Person proceeds of which
are contributed to the equity capital of the Company or any of
Restricted Subsidiary.
“ Event of Default
” has the meaning assigned to such term in
Section 6.01.
“ Excess Proceeds
” has the meaning assigned to such term in
Section 4.13.
“ Exchange Act ”
means the Securities Exchange Act of 1934.
“ Exchange Companies
” means Investment Property Exchange Services, Inc. and any
other Restricted Subsidiaries that are engaged in
like-kind-exchange operations.
“ Exchange Notes ”
means the Notes of the Company issued pursuant to the Indenture in
exchange for, and in an aggregate principal amount equal to, the
Initial Notes or any Initial Additional Notes in compliance with
the terms of a Registration Rights Agreement and containing terms
substantially identical to the Initial Notes or any Initial
Additional Notes (except that (i) such Exchange Notes will be
registered under the Securities Act and will not be subject to
transfer restrictions or bear the Restricted Legend, and
(ii) the provisions relating to Additional Interest will be
eliminated).
“ Exchange Offer ”
means an offer by the Company to the Holders of the Initial Notes
or any Initial Additional Notes to exchange outstanding Notes for
Exchange Notes, as provided for in a Registration Rights
Agreement.
“ Exchange Offer
Registration Statement ” means the Exchange Offer
Registration Statement as defined in the Registration Rights
Agreement.
“ FIS ” means
Fidelity National Information Services, Inc.
“ Fixed Charge Coverage
Ratio ” means, on any date (the “ transaction
date ”), the ratio of
(x) the aggregate amount of EBITDA
for the four fiscal quarters immediately prior to the transaction
date for which internal financial statements are available (the
“ reference period ”) to
14
(y) the aggregate Fixed Charges
during such reference period.
In making the foregoing calculation
the following adjustments shall be made:
(1) Incurrence of Debt : If
the Company or any Restricted Subsidiary has Incurred any Debt
since the beginning of the reference period that remains
outstanding on the transaction date or if the transaction giving
rise to the need to calculate the Fixed Charge Coverage Ratio is an
Incurrence of Debt, EBITDA and Interest Expense for the reference
period will be calculated after giving effect on a pro forma basis
to such Debt as if such Debt had been Incurred on the first day of
the reference period (except that in making such computation, the
amount of Debt under any revolving credit facility outstanding on
the date of such calculation will be deemed to be (i) the
average daily balance of such Debt during such four fiscal quarters
or such shorter period for which such facility was outstanding or
(ii) if such facility was created after the end of such four
fiscal quarters, the average daily balance of such Debt during the
period from the date of creation of such facility to the date of
such calculation) and the discharge of any other Debt repaid,
repurchased, defeased or otherwise discharged with the proceeds of
such new Debt as if such discharge had occurred on the first day of
the reference period; or
(2) Discharge of Debt . If the
Company or any Restricted Subsidiary has repaid, repurchased,
defeased or otherwise discharged any Debt since the beginning of
the period that is no longer outstanding on the transaction date or
if the transaction giving rise to the need to calculate the Fixed
Charge Coverage Ratio involves a discharge of Debt (in each case
other than Debt Incurred under any revolving credit facility unless
such Debt has been permanently repaid and the related commitment
terminated), EBITDA and Interest Expense for the reference period
will be calculated after giving effect on a pro forma basis to such
repayment, repurchase, defeasance or other discharge of such Debt,
including with the proceeds of such new Debt, as if such discharge
had occurred on the first day of the reference period;
(3) Sales . If since the
beginning of the reference period the Company or any Restricted
Subsidiary will have made any Asset Sale or disposed of any
company, division, operating unit, segment, business, group of
related assets or line of business or if the transaction giving
rise to the need to calculate the Fixed Charge Coverage Ratio is
such an Asset Sale:
(a) the EBITDA for the reference
period will be reduced by an amount equal to the EBITDA (if
positive) directly attributable to the assets which are the subject
of such disposition
15
for the
reference period or increased by an amount equal to the EBITDA (if
negative) directly attributable thereto for the reference period;
and
(b) Interest Expense for the
reference period will be reduced by an amount equal to the Interest
Expense directly attributable to any Debt of the Company or any
Restricted Subsidiary repaid, repurchased, defeased or otherwise
discharged (including, but not limited to, through the assumption
of such Debt by another Person if the Company and its Restricted
Subsidiaries are no longer liable for such Debt after the
assumption thereof) with respect to the Company and its continuing
Restricted Subsidiaries in connection with such disposition for the
reference period (or, if the Capital Stock of any Restricted
Subsidiary is sold, the Interest Expense for the reference period
directly attributable to the Debt of such Restricted Subsidiary to
the extent the Company and its continuing Restricted Subsidiaries
are no longer liable for such Debt after such sale);
(4) Purchases . If since the
beginning of the reference period the Company or any Restricted
Subsidiary (by merger or otherwise) will have made an Investment in
any Restricted Subsidiary (or any Person which becomes a Restricted
Subsidiary or is merged with or into the Company) or an acquisition
of assets, including any acquisition of assets occurring in
connection with a transaction causing a calculation to be made
hereunder, which constitutes all or substantially all of a company,
division, operating unit, segment, business, group of related
assets or line of business, EBITDA (plus adjustments which will
only include annualized cost savings achievable within one year and
which shall be itemized in an Officer’s Certificate delivered
to the Trustee by the chief financial officer of the Company) and
Interest Expense for the reference period will be calculated after
giving pro forma effect thereto (including the Incurrence of any
Debt) as if such Investment or acquisition occurred on the first
day of the reference period; and
(5) Adjustments for Acquired
Person . If since the beginning of the reference period any
Person (that subsequently became a Restricted Subsidiary or was
merged with or into the Company or any Restricted Subsidiary since
the beginning of the reference period) will have Incurred any Debt
or discharged any Debt, made any Asset Sale or any Investment or
acquisition of assets that would have required an adjustment
pursuant to clause (3) or (4) above if made by the
Company or a Restricted Subsidiary during the reference period,
EBITDA and Interest Expense for the reference period will be
calculated after giving pro forma effect thereto as if such
transaction occurred on the first day of the reference
period.
16
For purposes of this definition,
whenever pro forma effect is to be given to any calculation under
this definition, the pro forma calculations will be determined in
good faith by a responsible financial or accounting officer of the
Company (including pro forma expense and cost reductions calculated
on a basis consistent with Regulation S-X under the Securities
Act). If any Debt bears a floating rate of interest and is being
given pro forma effect, the interest expense on such Debt will be
calculated as if the rate in effect on the transaction date had
been the applicable rate for the entire reference period (taking
into account any Hedging Agreement applicable to such Debt if such
Interest Rate Agreement has a remaining term in excess of
12 months). If any Debt that is being given pro forma effect
bears an interest rate at the option of the Company or any
Restricted Subsidiary, the interest rate shall be calculated by
applying such optional rate chosen by the Company or such
Restricted Subsidiary.
“ Fixed Charges ”
means, for any period, the sum (without duplication) of
(1) Interest Expense for such period;
and
(2) the product of
(x) cash and non-cash dividends paid,
declared, accrued or accumulated on any Disqualified or Preferred
Stock of the Company or a Restricted Subsidiary, except for
dividends payable in the Company’s Qualified Stock or paid to
the Company or to a Restricted Subsidiary, and
(y) a fraction (expressed as a
decimal), the numerator of which is one and the denominator of
which is one minus the sum of the currently effective combined
Federal, state, local and foreign tax rate applicable to the
Company and its Restricted Subsidiaries.
“ Foreign Restricted
Subsidiary ” means any Restricted Subsidiary that is not
a Domestic Restricted Subsidiary.
“ GAAP ” means
generally accepted accounting principles in the United States of
America as in effect as of the Issue Date.
“ Global Note ”
means a Note in registered global form without interest
coupons.
“ Guarantee ”
means any obligation, contingent or otherwise, of any Person
directly or indirectly guaranteeing any Debt or other obligation of
any other Person and, without limiting the generality of the
foregoing, any obligation, direct or indirect, contingent or
otherwise, of such Person (i) to purchase or pay (or advance
or supply funds for the purchase or payment of) such Debt or
other
17
obligation of such other Person (whether arising by virtue of
partnership arrangements, or by agreement to keep-well, to purchase
assets, goods, securities or services, to take-or-pay, or to
maintain financial statement conditions or otherwise) or
(ii) entered into for purposes of assuring in any other manner
the obligee of such Debt or other obligation of the payment thereof
or to protect such obligee against loss in respect thereof, in
whole or in part; provided that the term
“Guarantee” does not include endorsements for
collection or deposit in the ordinary course of business or
customary and reasonable indemnity obligations in effect on the
Issue Date or entered into in connection with any acquisition of
assets or any Asset Sale permitted by the Indenture. The term
“Guarantee” used as a verb has a corresponding
meaning.
“ Guarantor ”
means (i) each Domestic Restricted Subsidiary of the Company
that Guarantees Debt under the Credit Agreement on the Issue Date
and (ii) each Domestic Restricted Subsidiary that executes a
supplemental Indenture in the form of Exhibit B to the
Indenture providing for the guaranty of the payment of the Notes,
or any successor obligor under its Note Guaranty pursuant to
Section 5.02, in each case unless and until such Guarantor is
released from its Note Guaranty pursuant to the Indenture.
“ Hedging Agreement
” means (i) any interest rate swap agreement, interest
rate cap agreement or other agreement designed to protect against
fluctuations in interest rates, (ii) any foreign exchange
forward contract, currency swap agreement or other agreement
designed to protect against fluctuations in foreign exchange rates,
or (iii) any Swap Contract.
“ Holder ” or
“ Noteholder ” means the registered holder of
any Note.
“ Incur ” means,
with respect to any Debt or Capital Stock, to incur, create, issue,
assume or Guarantee such Debt or Capital Stock. If any Person
becomes a Restricted Subsidiary on any date after the date of the
Indenture (including by redesignation of an Unrestricted Subsidiary
or failure of an Unrestricted Subsidiary to meet the qualifications
necessary to remain an Unrestricted Subsidiary), the Debt and
Capital Stock of such Person outstanding on such date will be
deemed to have been Incurred by such Person on such date for
purposes of Section 4.06, but will not be considered the sale
or issuance of Equity Interests for purposes of
Section 4.13.
“ Indenture ”
means this indenture, as amended or supplemented from time to
time.
“ Initial Additional
Notes ” means Additional Notes issued in an offering not
registered under the Securities Act and any Notes issued in
replacement thereof, but not including any Exchange Notes issued in
exchange therefor.
18
“ Initial Notes ”
means the Notes issued on the Issue Date and any Notes issued in
replacement thereof, but not including any Exchange Notes issued in
exchange therefor.
“ Initial Purchasers
” means the initial purchasers party to the Purchase
Agreement with the Company relating to the sale of the Initial
Notes or Initial Additional Notes by the Company.
“ Institutional Accredited
Investor Certificate ” means a certificate substantially
in the form of Exhibit G hereto.
“ interest ”, in
respect of the Notes, unless the context otherwise requires, refers
to interest and Additional Interest, if any.
“ Interest Expense
” means, for any period, the consolidated interest expense of
the Company and its Restricted Subsidiaries, plus, to the extent
not included in such consolidated interest expense, and to the
extent Incurred, accrued or payable by the Company or its
Restricted Subsidiaries, without duplication, (i) interest
expense attributable to Sale and Leaseback Transactions,
(ii) amortization of debt discount costs but excluding
amortization of deferred financing charges, (iii) capitalized
interest (but excluding interest accruing with respect to tax
liabilities (whether or not contingent)), (iv) non-cash
interest expense, (v) commissions, discounts and other fees
and charges owed with respect to letters of credit and
bankers’ acceptance financing, (vi) net costs associated
with Hedging Agreements, and (vii) any of the above expenses
with respect to Debt of another Person Guaranteed by the Company or
any of its Restricted Subsidiaries, as determined on a consolidated
basis and in accordance with GAAP; provided that,
notwithstanding the foregoing, Interest Expense shall not include
(i) fees and expenses associated with the consummation of the
Spin-Off (ii) annual agency fees paid to the administrative
agent under the Credit Agreement and (iii) fees and expenses
associated with any Permitted Investment, issuance of Equity
Interests or issuance of Debt (whether or not consummated).
“ Interest Payment Date
” means each January 1 and July 1 of each year, commencing
January 1, 2009.
“ Investment ”
means
(1) any direct or indirect advance,
loan or other extension of credit to another Person,
(2) any capital contribution to
another Person, by means of any transfer of cash or other property
or in any other form,
(3) any purchase or acquisition of
Equity Interests, bonds, notes or other Debt, or other instruments
or securities issued by another Person,
19
including the
receipt of any of the above as consideration for the disposition of
assets or rendering of services, or
(4) any Guarantee of any obligation
of another Person.
If the Company or any Restricted
Subsidiary (x) sells or otherwise disposes of any Equity
Interests of any direct or indirect Restricted Subsidiary so that,
after giving effect to that sale or disposition, such Person is no
longer a Subsidiary of the Company, or (y) designates any
Restricted Subsidiary as an Unrestricted Subsidiary in accordance
with Section 4.15, all remaining Investments of the Company
and the Restricted Subsidiaries in such Person shall be deemed to
have been made at such time. For all purposes of the Indenture, the
amount of any Investment shall be the amount actually invested on
the date of such Investment, without any adjustment for subsequent
increases or decreases in the value of such Investment.
“ Investment Grade
Rating ” means BBB- or higher by S&P or Baa3 or
higher by Moody’s, or the equivalent of such ratings by
S&P or Moody’s, or of another Rating Agency.
“ Issue Date ”
means the date on which the Initial Notes are originally issued
under the Indenture.
“ Joint Venture ”
means (a) any Person which would constitute an “equity
method investee” of the Company or any of its Subsidiaries,
(b) any other Person designated by the Company in writing to
the Trustee (which designation shall be irrevocable) as a
“Joint Venture” for purposes of the Indenture and at
least 50% but less than 100% of whose Equity Interests are directly
owned by the Company or any of its Subsidiaries, and (c) any
Person in whom the Company or any of its Subsidiaries beneficially
owns any Equity Interest that is not a Subsidiary.
“ Lien ” means any
mortgage, pledge, security interest, encumbrance, lien or charge of
any kind (including any conditional sale or other title retention
agreement or Capital Lease).
“ Material Subsidiary
” means each Restricted Subsidiary other than Restricted
Subsidiaries that, as of any date of determination, individually or
collectively, for the four fiscal quarter period ended most
recently prior to such date of determination did not generate more
than 10% of the EBITDA of the Company and its Restricted
Subsidiaries and, at the date of determination, did not have assets
constituting more than 5% of the Total Assets of the Company and
its Restricted Subsidiaries on a consolidated basis.
“ Moody’s ”
means Moody’s Investors Service, Inc. and its
successors.
20
“ Net Cash Proceeds
” means, with respect to any Asset Sale, the proceeds of such
Asset Sale in the form of cash (including (i) payments in
respect of deferred payment obligations to the extent corresponding
to principal, but not interest, when received in the form of cash,
and (ii) proceeds from the conversion of other consideration
received when converted to cash), net of
(1) brokerage commissions and other
fees and expenses related to such Asset Sale, including fees and
expenses of counsel, accountants, underwriters and investment
bankers;
(2) provisions for taxes as a result
of such Asset Sale without regard to the consolidated results of
operations of the Company and its Restricted Subsidiaries;
(3) payments required to be made to
holders of minority interests in Restricted Subsidiaries as a
result of such Asset Sale or to repay Debt outstanding at the time
of such Asset Sale that is secured by a Lien on the property or
assets sold; and
(4) appropriate amounts to be
provided as a reserve against liabilities associated with such
Asset Sale, including pension and other post-employment benefit
liabilities, liabilities related to environmental matters and
indemnification obligations associated with such Asset Sale, with
any subsequent reduction of the reserve other than by payments made
and charged against the reserved amount to be deemed a receipt of
cash.
“ Non-U.S. Person
” means a Person that is not a U.S. person, as defined in
Regulation S.
“ Non-Recourse Debt
” means Debt as to which (i) neither the Company nor any
Restricted Subsidiary provides any Guarantee and as to which the
lenders have been notified in writing that they will not have any
recourse to the stock or assets of the Company or any Restricted
Subsidiary and (ii) no default thereunder would, as such,
constitute a default under any Debt of the Company or any
Restricted Subsidiary.
“ Notes ” has the
meaning assigned to such term in the Recitals.
“ Note Guaranty ”
means the guaranty of the Notes by a Guarantor pursuant to the
Indenture.
“ Obligations ”
means, with respect to any Debt, all obligations (whether in
existence on the Issue Date or arising afterwards, absolute or
contingent, direct or indirect) for or in respect of principal
(when due, upon acceleration, upon redemption, upon mandatory
repayment or repurchase pursuant to a mandatory offer to purchase,
or otherwise), premium, interest, penalties, fees and other
21
amounts
payable and liabilities with respect to such Debt pursuant to its
terms, including all interest accrued or accruing after the
commencement of any bankruptcy, insolvency or reorganization or
similar case or proceeding at the contract rate (including, without
limitation, any contract rate applicable upon default) specified in
the relevant documentation, whether or not the claim for such
interest is allowed as a claim in such case or proceeding.
“ Offer to Purchase
” has the meaning assigned to such term in
Section 3.04.
“ Offering Memorandum
” means the confidential offering memorandum, dated
June 18, 2008, relating to the sale of the Initial
Notes.
“ Officer ” means
the chairman of the Board of Directors, the president or chief
executive officer, any vice president, the chief financial officer,
the treasurer or any assistant treasurer, or the secretary or any
assistant secretary, of the Company. Officer of a Guarantor has a
correlative meaning.
“ Officers’
Certificate ” means a certificate signed in the name of
the Company or any Guarantor, as the case may be, (i) by the
chairman of the Board of Directors, the president or chief
executive officer or a vice president and (ii) by the chief
financial officer, the treasurer or any assistant treasurer or the
secretary or any assistant secretary.
“ Offshore Global Note
” means a Global Note representing Notes issued and sold
pursuant to Regulation S.
“ Opinion of Counsel
” means a written opinion signed by legal counsel, who may be
an employee of or counsel to the Company or any Guarantor,
satisfactory to the Trustee.
“ Original Notes ”
means the Initial Notes or the Initial Additional Notes, as the
case may be, and any Exchange Notes issued in exchange
therefor.
“ Paying Agent ”
refers to a Person engaged to perform the obligations of the
Trustee in respect of payments made or funds held hereunder in
respect of the Notes.
“ Permanent Offshore Global
Note ” means an Offshore Global Note that does not bear
the Temporary Offshore Global Note Legend.
“ Permitted Bank Debt
” has the meaning assigned to such term in
Section 4.06.
“ Permitted Debt ”
has the meaning assigned to such term in Section 4.06.
22
“ Permitted Business
” means any of the businesses in which the Company and its
Restricted Subsidiaries are engaged on the Issue Date, and any
business reasonably related, incidental, complementary or ancillary
thereto or extension, expansions or developments thereof; and any
other business approved from time to time by the Board of
Directors.
“ Permitted Investments
” means:
(1) any Investment in the Company or
in a Restricted Subsidiary of the Company;
(2) any Investment in cash or Cash
Equivalents;
(3) any Investment by the Company or
any Subsidiary of the Company in a Person, if as a result of such
Investment,
(A) such Person becomes a Restricted
Subsidiary of the Company, provided that such Person is primarily
engaged in a Permitted Business, or
(B) such Person is merged or
consolidated with or into, or transfers or conveys substantially
all its assets to, or is liquidated into, the Company or a
Restricted Subsidiary, provided that such Person is
primarily engaged in a Permitted Business;
(4) Investments received as non-cash
consideration in an Asset Sale made pursuant to and in compliance
with Section 4.13 or in any other disposition of assets not
constituting an Asset Sale pursuant to the exceptions in the
definition thereof (except pursuant to clause (5) in such
definition);
(5) any Investment acquired solely in
exchange for Qualified Stock of the Company;
(6) Hedging Agreements otherwise
permitted under the Indenture;
(7) (i) Investments consisting
of extensions of credit in the nature of accounts receivable or
Notes receivable arising from the grant of trade credit in the
ordinary course of business, and Investments received in
satisfaction or partial satisfaction thereof from financially
troubled account debtors and other credits to suppliers in the
ordinary course of business,(ii) endorsements of negotiable
instruments and documents for collection or deposit in the ordinary
course of business, and (iii) Investments (including debt
obligations and Equity Interests) received in connection with the
bankruptcy or reorganization of any Person and in settlement of
obligations of, or other disputes with, any Person arising in the
ordinary
23
course of
business and upon foreclosure with respect to any secured
Investment or other transfer of title with respect to any secured
Investment;
(8) payroll, travel and other loans
or advances to, or Guarantees issued to support the obligations of,
directors, officers, members of management, employees and
consultants; in each case in the ordinary course of business, not
in excess of $10.0 million outstanding at any time;
(9) extensions of credit to customers
and suppliers in the ordinary course of business;
(10) Investments existing or
contemplated on the Issue Date and any modification, replacement,
renewal or extension thereof; provided that the amount of
the original Investment is not increased except as otherwise
permitted under Section 4.07;
(11) Guarantees by the Company or any
Restricted Subsidiary of leases (other than a Capital Lease)
entered into in the ordinary course of business;
(12) Investments in any Notes
(including any Additional Notes or Exchange Notes) issued under the
Indenture;
(13) Guarantees by the Company or any
of its Restricted Subsidiaries of Debt otherwise permitted to be
Incurred by the Company or any of its Restricted Subsidiaries under
the Indenture;
(14) receivables owing to the Company
or any Restricted Subsidiary, if created or acquired in the
ordinary course of business;
(15) any pledges or deposits
permitted under the definition of “Permitted
Liens”;
(16) any transaction to the extent it
constitutes an Investment that is permitted by and made in
accordance with the provisions of clauses (4), (7), (8) or
(9) of paragraph (b) of Section 4.14;
(17) any Investment that replaces,
refinances or refunds an existing Investment (other than an
Investment under clauses (1), (2), (3), (7), (8), (9), (12), (14),
or (15) above or (18), (19) or (20) below); provided that
the new Investment is in an amount that does not exceed the amount
replaced, refinanced or refunded, and is made in the same Person as
the Investment replaced, refinanced or refunded;
(18) in addition to Investments
listed above, Investments in an aggregate amount, taken together
with all other Investments made in
24
reliance on
this clause, not to exceed $125.0 million (net of, with
respect to the Investment in any particular Person made pursuant to
this clause, the cash return thereon received after the Issue Date
as a result of any sale for cash, repayment, redemption,
liquidating distribution or other cash realization (not included in
Consolidated Net Income) not to exceed the amount of such
Investments in such Person made after the Issue Date in reliance on
this clause);
(19) any Investment in a
Securitization Vehicle or any Investment by a Securitization
Vehicle in any other Person in connection with a Securitization
Financing permitted by the Indenture, including Investments of
funds held in accounts permitted or required by the arrangements
governing the Securitization Financing or any related Debt;
provided that any Investment in a Securitization Vehicle is
in the form of a purchase money Note, contribution of additional
Securitization Assets or equity investments; and
(20) Investments of funds held by the
Exchange Companies for the benefit of their customers in connection
with their like-kind-exchange operations.
If any Investment pursuant to clause
(18) above is made in any Person that is not a Restricted
Subsidiary and such Person thereafter becomes a Restricted
Subsidiary, such Investment shall thereafter be deemed to have been
made pursuant to clause (1) above and not clause
(18) above for so long as such Person continues to be a
Restricted Subsidiary.
“ Permitted Liens
” means
(1) Liens existing on the Issue Date
(other than Liens referred to in clause (3) below) and any
modifications, replacements, refinancings, renewals or extensions
thereof; provided that (i) the Lien does not extend to
any additional property other than (a) after-acquired property that
is affixed or incorporated into the property covered by such Lien
or financed by Debt permitted under Section 4.06, and
(b) improvements, accessions, dividends, distributions,
proceeds and products thereof and (ii) the modification,
replacement, renewal, extension or refinancing of the Obligations
secured or benefited by such Liens (if such Obligations constitute
Debt) is permitted under Section 4.06;
(2) Liens securing the Notes (other
than any Additional Notes) or any Note Guaranties;
(3) Liens securing Obligations under
or with respect to Permitted Bank Debt and Obligations with respect
thereto and securing any Guarantees of such Obligations;
25
(4) (i) Liens Incurred in the
ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security
legislation and (ii) Liens Incurred in the ordinary course of
business securing insurance premiums or reimbursement obligations
under insurance policies;
(5) statutory Liens of landlords,
carriers, warehousemen, mechanics, materialmen, repairmen,
construction contractors or other like Liens arising in the
ordinary course of business which secure amounts not overdue for a
period of more than 60 days or, if more than 60 days
overdue, (i) no action has been taken to enforce such Lien,
(ii) such Lien is being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves
with respect thereto are maintained on the books of the applicable
Person in accordance with GAAP or (iii) the nonpayment of
which in the aggregate would not reasonably be expected to have a
material adverse effect on the Company and its Restricted
Subsidiaries taken as a whole;
(6) Liens for taxes, assessments or
governmental charges which (x) are not overdue for a period of
more than 60 days, (y) if more than 60 days overdue,
which are being contested in good faith and by appropriate
proceedings diligently conducted, if adequate reserves with respect
thereto are maintained on the books of the applicable Person in
accordance with GAAP or (z) the nonpayment of which in the
aggregate would not reasonably be expected to have a material
adverse effect on the Company and its Restricted Subsidiaries taken
as a whole;
(7) Liens securing reimbursement
obligations with respect to letters of credit that encumber
documents and other property relating to such letters of credit and
the proceeds thereof;
(8) Liens to secure the performance
of bids, trade contracts, governmental contracts and leases (other
than Debt for borrowed money), statutory obligations, surety, stay,
customs and appeal bonds, performance bonds, performance and
completion guarantees and other obligations of a like nature
(including those to secure health, safety and environmental
obligations) Incurred in the ordinary course of business;
(9) survey exceptions, encumbrances,
easements or reservations of, or rights of others for, licenses,
rights of way, sewers, electric lines, telegraph and telephone
lines and other similar purposes, or zoning or other restrictions
as to the use of real property, not interfering in any material
respect with the conduct of the business of the Company and its
Restricted Subsidiaries;
26
(10) licenses or leases or subleases
as licensor, lessor or sublessor of any of its property, including
intellectual property, in the ordinary course of business;
(11) Liens that are contractual
rights of set-off (i) relating to the establishment of
depository relations with banks not given in connection with the
issuance of Debt (other than Debt described in paragraph
(7) of the definition of “Debt”),
(ii) relating to pooled deposit or sweep accounts of the
Company or any Restricted Subsidiary to permit satisfaction of
overdraft or similar obligations Incurred in the ordinary course of
business of the Company or any Restricted Subsidiary and
(iii) relating to purchase orders and other similar agreements
entered into in the ordinary course of business;
(12) Liens securing judgments for the
payment of money not constituting an Event of Default;
(13) Liens in favor of customs and
revenue authorities arising as a matter of law to secure payment of
customs duties in connection with the importation of goods in the
ordinary course of business;
(14) Liens in favor of the Company or
any Restricted Subsidiary securing Debt permitted under
Section 4.06 or other obligations;
(15) Liens (i) of a collection
bank arising under Section 4-210 of the Uniform Commercial
Code on items in the course of collection, (ii) attaching to
commodity trading accounts or other brokerage accounts Incurred in
the ordinary course of business, or (iii) in favor of a banking
institution arising as a matter of law encumbering deposits
(including the right of set-off) and which are within the general
parameters customary in the banking industry;
(16) Liens arising from precautionary
UCC financing statement filings (or similar filings under
applicable Law) regarding leases entered into by the Company or any
Restricted Subsidiary in the ordinary course of business (and Liens
consisting of the interests or title of the respective lessors
thereunder);
(17) Liens arising out of conditional
sale, title retention, consignment or similar arrangements for sale
of goods entered into by the Company or any Restricted Subsidiary
in the ordinary course of business not prohibited by the
Indenture;
(18) Liens existing on property at
the time of its acquisition or existing on the property of any
Person at the time such Person becomes a Restricted Subsidiary, in
each case after the date hereof and any
27
modifications,
replacements, refinancings, renewals or extensions thereof;
provided that (i) in the case of Liens securing
purchase money Debt or Capital Leases, (a) such Liens (except
for refinancings thereof) attach concurrently with or within
365 days after the acquisition, repair, replacement,
construction or improvement (as applicable) of the property subject
to such Liens and (b) such Lien does not extend to or cover
any other assets or property (other than the improvements,
accessions, dividends, distributions, proceeds or products thereof
and after-acquired property subjected to a Lien pursuant to terms
existing at the time of such acquisition, it being understood that
such requirement to pledge after-acquired property shall not be
permitted to apply to any property to which such requirement would
not have applied but for such acquisition) (ii) in the case of
Liens securing Debt other than purchase money Debt or Capital
Leases, (a) such Liens do not extend to the property of any
Person other than the Person acquired or formed to make such
acquisition and the subsidiaries of such Person and (b) such
Lien was not created in contemplation of such acquisition or such
Person becoming a Restricted Subsidiary and (iii) the Debt
secured thereby (or, as applicable, any modifications,
replacements, refinancings, renewals or extensions thereof) is
permitted under paragraph (b)(7) or (b)(9) under Section 4.06
or under Section 4.09;
(19) Liens (i) (A) on advances
of cash or Cash Equivalents in favor of the seller of any property
to be acquired under paragraph (3) of the definition of
“Permitted Investment” to be applied against the
purchase price for such Investment, and (B) consisting of an
agreement to dispose of any property in a disposition permitted
under Section 4.13 and (ii) on cash earnest money
deposits made by the Company or any Restricted Subsidiary in
connection with any letter of intent or purchase agreement
permitted under the Indenture;
(20) Liens securing Hedging
Agreements so long as such Hedging Agreements relate to other Debt
that is, and is permitted to be under the Indenture, secured by a
Lien on the same property securing such Hedging Agreements;
(21) Liens on property of any Foreign
Restricted Subsidiary securing Debt of such Foreign Restricted
Subsidiary to the extent permitted to be Incurred under
Section 4.06;
(22) any pledge of the Capital Stock
of an Unrestricted Subsidiary to secure Debt of such Unrestricted
Subsidiary;
(23) extensions, renewals, refundings
or replacements (in each case, in whole or in part) of any Liens
referred to in clauses (1), (2) or (18) in connection
with the refinancing of the obligations secured thereby,
28
provided
that such Lien does not extend to any other property (plus
improvements, accessions, proceeds or dividend or distributions in
respect thereof) and, except as contemplated by the definition of
“Permitted Refinancing Debt”, the amount secured by
such Lien is not increased;
(24) Liens arising in connection with
Cash Management Practices;
(25) Liens securing Specified
Non-Recourse Indebtedness; and
(26) other Liens securing obligations
in an aggregate amount not exceeding $50 million.
“ Permitted Payment
” has the meaning assigned to such term in
Section 4.07.
“ Permitted Refinancing
Debt ” has the meaning assigned to such term in
Section 4.06.
“ Person ” means
an individual, a corporation, a partnership, a limited liability
company, joint venture, joint stock company, an association,
unincorporated organization, a trust or any other entity, including
a government or political subdivision or an agency or
instrumentality thereof.
“ Preferred Stock
” means, with respect to any Person, any and all Capital
Stock which is preferred as to the payment of dividends or
distributions, upon liquidation or otherwise, over another class of
Capital Stock of such Person.
“ principal ” of
any Debt means the principal amount of such Debt, (or if such Debt
was issued with original issue discount, the face amount of such
Debt less the remaining unamortized portion of the original issue
discount of such Debt).
“ Purchase Agreement
” means the Purchase Agreement dated as of June 18, 2008
among the Company, the Guarantors, the Selling Noteholders and the
Initial Purchasers.
“ Qualified Equity
Interests ” means all Equity Interests of a Person other
than Disqualified Equity Interests.
“ Qualified Stock
” means all Capital Stock of a Person other than Disqualified
Stock.
“ Rating Agency ”
means (i) S&P, (ii) Moody’s or (iii) if
neither S&P or Moody’s is rating the Notes, another
recognized rating agency, selected by the Company.
29
“ Redemption Date
” has the meaning assigned to such term in
Section 3.01.
“ refinance ” has
the meaning assigned to such term in Section 4.06.
“ Register ” has
the meaning assigned to such term in Section 2.09.
“ Registrar ”
means a Person engaged to maintain the Register.
“ Registration Rights
Agreement ” means (i) the Registration Rights
Agreement dated on or about the Issue Date between the Company and
the Initial Purchasers party thereto with respect to the Initial
Notes, and (ii) with respect to any Additional Notes, any
registration rights agreements between the Company and the Initial
Purchasers party thereto relating to rights given by the Company to
the purchasers of Additional Notes to register such Additional
Notes or exchange them for Notes registered under the Securities
Act.
“ Regular Record Date
” for the interest payable on any Interest Payment Date means
the June 15 or December 15 (whether or not a Business
Day) next preceding such Interest Payment Date.
“ Regulation S
” means Regulation S under the Securities Act.
“ Regulation S
Certificate ” means a certificate substantially in the
form of Exhibit E hereto.
“ Restricted Legend
” means the legend set forth in Exhibit C.
“ Restricted Payment
” has the meaning assigned to such term in
Section 4.07.
“ Restricted Period
” means the relevant 40-day distribution compliance period as
defined in Regulation S.
“ Restricted Subsidiary
” means any Subsidiary of the Company other than an
Unrestricted Subsidiary.
“ Rule 144A ”
means Rule 144A under the Securities Act.
“ Rule 144A
Certificate ” means (i) a certificate substantially
in the form of Exhibit F hereto or (ii) a written
certification addressed to the Company and the Trustee to the
effect that the Person making such certification (x) is
acquiring such Note (or beneficial interest) for its own account or
one or more accounts with respect to which it exercises sole
investment discretion and that it and each such account is a
qualified institutional buyer within the meaning of Rule 144A,
(y) is aware that the transfer to it or exchange, as
applicable, is being made in reliance upon the exemption from the
provisions of Section 5 of the Securities Act
30
provided
by Rule 144A, and (z) acknowledges that it has received such
information regarding the Company as it has requested pursuant to
Rule 144A(d)(4) or has determined not to request such
information.
“ S&P ” means
Standard & Poor’s Ratings Group, a division of McGraw
Hill, Inc. and its successors.
“ Sale and Leaseback
Transaction ” means, with respect to any Person, an
arrangement whereby such Person enters into a lease of property
previously transferred by such Person to the lessor.
“ SEC ” means the
Securities and Exchange Commission.
“ Securities Act ”
means the Securities Act of 1933.
“ Securitization Assets
” means any accounts receivable, royalty or revenue streams,
other financial assets, proceeds and books, records and other
related assets incidental to the foregoing subject to a
Securitization Financing.
“ Securitization
Financing ” means Debt Incurred in connection with a
receivables securitization transaction involving the Company or any
of its Restricted Subsidiaries and a Securitization Vehicle;
provided that (i) such Debt when Incurred shall not
exceed 100% of the cost or fair market value, whichever is lower,
of the property being acquired on the date of acquisition,
(ii) such Debt is created and any Lien attaches to such
property concurrently with or within forty-five (45) days of the
acquisition thereof, and (iii) such Lien does not at any time
encumber any property other than the property financed by such
Debt.
“ Securitization Vehicle
” means one or more special purpose vehicles that are,
directly or indirectly, wholly-owned Subsidiaries of the Company
and are Persons organized for the limited purpose of entering into
a Securitization Financing by purchasing, or receiving by way of
capital contributions, sale or other transfer, assets from the
Company and its Subsidiaries and obtaining financing for such
assets from third parties, and whose structure is designed to
insulate such vehicle from the credit risk of the Company.
“ Selling Noteholders
” means J.P. Morgan Securities Inc., Banc of America
Securities LLC and Wachovia Capital Markets, LLC, as selling
noteholders of the Initial Certificated Notes under the Purchase
Agreement
“ Shelf Registration
Statement ” means the Shelf Registration Statement as
defined in a Registration Rights Agreement.
“ Spin-Off ” means
the contribution of FIS’ lender processing services
operations to the Company and the entry into the Credit Agreement
and the borrowings (including issuances of letters of credit)
thereunder on the Issue Date each as described in this offering
memorandum under “The transactions.”
31
“ Spin-Off Agreements
” mean (a) the Contribution and Distribution Agreement
between the Company and FIS, any other contribution and separation
agreements and any other documents relating to the contribution or
the Spin-Off (including as to the allocation of liabilities),
(b) the documentation relating to the establishment of the
Company, (c) the Exchange Agreement among FIS, the lenders
party thereto and the Company, (d) the Credit Agreement and
(e) all other agreements, instruments and documents relating
to the Spin-Off, in each case as in effect on the Issue Date.
“ Stated Maturity
” means (i) with respect to any Debt, the date specified
as the fixed date on which the final installment of principal of
such Debt is due and payable or (ii) with respect to any
scheduled installment of principal of or interest on any Debt, the
date specified as the fixed date on which such installment is due
and payable as set forth in the documentation governing such Debt,
not including any contingent obligation to repay, redeem or
repurchase prior to the regularly scheduled date for payment.
“ Subordinated Debt
” means any Debt of the Company or any Guarantor which is
subordinated in right of payment to the Notes or the Note Guaranty,
as applicable, pursuant to a written agreement to that
effect.
“ Subsidiary ”
means with respect to any Person, any corporation, association or
other business entity of which more than 50% of the outstanding
Voting Stock is owned, directly or indirectly, by, or, in the case
of a partnership, the sole general partner or the managing partner
or the only general partners of which are, such Person and one or
more Subsidiaries of such Person (or a combination thereof). Unless
otherwise specified, “Subsidiary” means a Subsidiary of
the Company.
“ Swap Contract ”
means (a) any and all rate swap transactions, basis swaps,
credit derivative transactions, forward rate transactions,
commodity swaps, commodity options, forward contracts, futures
contracts, equity or equity index swaps or options, bond or bond
price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate
options, forward foreign exchange transactions, cap transactions,
floor transactions, collar transactions, currency swap
transactions, cross-currency rate swap transactions, currency
options, spot contracts, repurchase agreements, reverse repurchase
agreements, sell buy backs and buy sell back agreements, and
securities lending and borrowing agreements or any other similar
transactions or any combination of any of the foregoing (including
any options to enter into any of the foregoing), whether or not any
such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind, and the related
confirmations, which are subject to the terms and conditions of, or
governed by, any form of master agreement published by the
International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master
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Agreement, or any other master agreement or related schedules,
including any such obligations or liabilities arising
therefrom.
“ Temporary Offshore Global
Note ” means an Offshore Global Note that bears the
Temporary Offshore Global Note Legend.
“ Temporary Offshore Global
Note Legend ” means the legend set forth in
Exhibit I.
“ Total Assets ”
means, at any time with respect to any Person, the total assets
appearing on the most recently prepared consolidated balance sheet
of such Person as of the end of the most recent fiscal quarter of
such Person for which such balance sheet is available, prepared in
accordance with GAAP.
“ Treasury Rate ”
means, as of any Redemption Date, the yield to maturity as of such
Redemption Date of United States Treasury securities with a
constant maturity (as compiled and published in the most recent
Federal Reserve Statistical Release H.15 (519) that has become
publicly available at least two Business Days prior to the
Redemption Date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data))
most nearly equal to the period from the Redemption Date to
July 1, 2011; provided that if the period from the
Redemption Date to such date is less than one year, the weekly
average yield on actually traded United States Treasury securities
adjusted to a constant maturity of one year will be used.
“ Trustee ” means
the party named as such in the first paragraph of the Indenture or
any successor trustee under the Indenture pursuant to
Article 7.
“ Trust Indenture Act
” means the Trust Indenture Act of 1939.
“ U.S. Global Note
” means a Global Note that bears the Restricted Legend
representing Notes issued and sold pursuant to
Rule 144A.
“ U.S. Government
Obligations ” means obligations issued or directly and
fully guaranteed or insured by the United States of America or by
any agent or instrumentality thereof, provided that the full faith
and credit of the United States of America is pledged in support
thereof.
“ Unrestricted
Subsidiary ” means any Subsidiary of the Company that at
the time of determination has previously been designated, and
continues to be (at any relevant time of determination), an
Unrestricted Subsidiary in accordance with Section 4.15.
“ Voting Stock ”
means, with respect to any Person, Capital Stock of any class or
kind ordinarily having the power to vote for the election of
directors, managers or other voting members of the governing body
of such Person.
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“ Wholly Owned ”
means, with respect to any Restricted Subsidiary, a Restricted
Subsidiary all of the outstanding Capital Stock of which (other
than any director’s qualifying shares) is owned by the
Company and one or more Wholly Owned Restricted Subsidiaries (or a
combination thereof).
Section 1.02. Rules of
Construction. Unless the context otherwise requires or except
as otherwise expressly provided,
(1) an accounting term not otherwise
defined has the meaning assigned to it in accordance with
GAAP;
(2) “herein,”
“hereof” and other words of similar import refer to the
Indenture as a whole and not to any particular Section, Article or
other subdivision;
(3) all references to Sections or
Articles or Exhibits refer to Sections or Articles or Exhibits of
or to the Indenture unless otherwise indicated;
(4) references to agreements or
instruments, or to statutes or regulations, are to such agreements
or instruments, or statutes or regulations, as amended from time to
time (or to successor statutes and regulations); and
(5) in the event that a transaction
meets the criteria of more than one category of permitted
transactions or listed exceptions the Company may classify such
transaction as it, in its sole discretion, determines.
ARTICLE 2
The Notes
Section 2.01 . Form, Dating
and Denominations; Legends. (a) The Notes and the
Trustee’s certificate of authentication will be substantially
in the form attached as Exhibit A. The terms and provisions
contained in the form of the Notes annexed as Exhibit A
constitute, and are hereby expressly made, a part of the Indenture.
The Notes may have notations, legends or endorsements required by
law, rules of or agreements with national securities exchanges to
which the Company is subject, or usage. Each Note will be dated the
date of its authentication. The Notes will be issuable in
denominations of $2,000 in principal amount and any multiple of
$1,000 in excess thereof.
(b)
(1) Except as otherwise provided in paragraph (c),
Section 2.10(b)(3), (b)(5), or (c) or Section 2.09(b)(4),
each Initial Note or Initial Additional Note (other than a
Permanent Offshore Note) will bear the Restricted Legend.
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(2) Each Global Note, whether or not
an Initial Note or Additional Note, will bear the DTC Legend.
(3) Each Temporary Offshore Global
Note will bear the Temporary Offshore Global Note Legend.
(4) Initial Notes and Initial
Additional Notes offered and sold in reliance on Regulation S
will be issued as provided in Section 2.11(a).
(5) Initial Notes and Initial
Additional Notes offered and sold in reliance on any exception
under the Securities Act other than Regulation S and
Rule 144A will be issued, and upon the request of the Company
to the Trustee, Initial Notes offered and sold in reliance on
Rule 144A may be issued, in the form of Certificated
Notes.
(6) Exchange Notes will be issued,
subject to Section 2.09(b), in the form of one or more Global
Notes.
(c) (1) If
the Company determines (upon the advice of counsel and such other
certifications and evidence as the Company may reasonably require)
that a Note is eligible for resale pursuant to Rule 144(d) under
the Securities Act (or a successor provision) and that the
Restricted Legend is no longer necessary or appropriate in order to
ensure that subsequent transfers of the Note (or a beneficial
interest therein) are effected in compliance with the Securities
Act, or
(2) after an Initial Note or any
Initial Additional Note is
(x) sold pursuant to an effective
registration statement under the Securities Act, pursuant to the
Registration Rights Agreement or otherwise, or (y) is validly
tendered for exchange into an Exchange Note pursuant to an Exchange
Offer
the
Company may instruct the Trustee to cancel the Note and issue to
the Holder thereof (or to its transferee) a new Note of like tenor
and amount, registered in the name of the Holder thereof (or its
transferee), that does not bear the Restricted Legend, and the
Trustee will comply with such instruction.
(d) By its acceptance of any
Note bearing the Restricted Legend (or any beneficial interest in
such a Note), each Holder thereof and each owner of a beneficial
interest therein acknowledges the restrictions on transfer of such
Note (and any such beneficial interest) set forth in this Indenture
and in the Restricted Legend and agrees that it will transfer such
Note (and any such beneficial interest) only in accordance with the
Indenture and such legend.
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(e) The Notes issued on the date
of this Indenture shall initially be issued in the form of one or
more Certificated Notes (the “ Initial Certificated
Notes ”).
Section 2.02 . Execution and
Authentication; Exchange Notes; Additional Notes. (a) An
Officer shall execute the Notes for the Company by facsimile or
manual signature in the name and on behalf of the Company. If an
Officer whose signature is on a Note no longer holds that office at
the time the Note is authenticated, the Note will still be
valid.
(b) A Note will not be valid
until the Trustee manually signs the certificate of authentication
on the Note, with the signature conclusive evidence that the Note
has been authenticated under the Indenture.
(c) At any time and from time to
time after the execution and delivery of the Indenture, the Company
may deliver Notes executed by the Company to the Trustee for
authentication. The Trustee will authenticate and deliver
(i) Initial Notes for original issue
in the aggregate principal amount not to exceed $375,000,000,
(ii) Initial Additional Notes from
time to time for original issue in aggregate principal amounts
specified by the Company, and
(iii) Exchange Notes from time to
time for issue in exchange for a like principal amount of Initial
Notes or Initial Additional Notes
after
the following conditions have been met:
(1) Receipt by the Trustee of an
Officers’ Certificate specifying
(A) the amount of Notes to be
authenticated and the date on which the Notes are to be
authenticated,
(B) whether the Notes are to be
Initial Notes or, Additional Notes or Exchange Notes,
(C) in the case of Initial Additional
Notes, that the issuance of such Notes does not contravene any
provision of Article 4,
(D) whether the Notes are to be
issued as one or more Global Notes or Certificated Notes, and
(E) other information the Company may
determine to include or the Trustee may reasonably request.
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(2) In the case of Exchange Notes,
receipt by the Trustee of an Officers’ Certificate regarding
the effectiveness of an Exchange Offer Registration Statement and
consummation of the exchange offer thereunder. Initial Notes or
Initial Additional Notes exchanged for Exchange Notes will be
cancelled by the Trustee.
Section 2.03 . Registrar,
Paying Agent and Authenticating Agent; Paying Agent to Hold Money
in Trust. (a) The Company may appoint one or more
Registrars and one or more Paying Agents, and the Trustee may
appoint an Authenticating Agent, in which case each reference in
the Indenture to the Trustee in respect of the obligations of the
Trustee to be performed by that Agent will be deemed to be
references to the Agent. The Company may act as Registrar or
(except for purposes of Article 8) Paying Agent. In each case the
Company and the Trustee will enter into an appropriate agreement
with the Agent implementing the provisions of the Indenture
relating to the obligations of the Trustee to be performed by the
Agent and the related rights. The Company initially appoints the
Trustee as Registrar and Paying Agent.
(b) The Company will require
each Paying Agent other than the Trustee to agree in writing that
the Paying Agent will hold in trust for the benefit of the Holders
or the Trustee all money held by the Paying Agent for the payment
of principal of and interest on the Notes and will promptly notify
the Trustee of any default by the Company in making any such
payment. The Company at any time may require a Paying Agent to pay
all money held by it to the Trustee and account for any funds
disbursed, and the Trustee may at any time during the continuance
of any payment default, upon written request to a Paying Agent,
require the Paying Agent to pay all money held by it to the Trustee
and to account for any funds disbursed. Upon doing so, the Paying
Agent will have no further liability for the money so paid over to
the Trustee.
Section 2.04 . Replacement
Notes. If a mutilated Note is surrendered to the Trustee or if
a Holder claims that its Note has been lost, destroyed or
wrongfully taken, the Company will issue and the Trustee will
authenticate a replacement Note of like tenor and principal amount
and bearing a number not contemporaneously outstanding. Every
replacement Note is an additional obligation of the Company and
entitled to the benefits of the Indenture. If required by the
Trustee or the Company, an indemnity must be furnished that is
sufficient in the judgment of both the Trustee and the Company to
protect the Company and the Trustee from any loss they may suffer
if a Note is replaced. The Company may charge the Holder for the
expenses of the Company and the Trustee in replacing a Note. In
case the mutilated, lost, destroyed or wrongfully taken Note has
become or is about to become due and payable, the Company in its
discretion may pay the Note instead of issuing a replacement
Note.
Section 2.05 . Outstanding
Notes. (a) Notes outstanding at any time are all Notes
that have been authenticated by the Trustee except for
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(1) Notes cancelled by the Trustee or
delivered to it for cancellation;
(2) any Note which has been replaced
pursuant to Section 2.04 unless and until the Trustee and the
Company receive proof satisfactory to them that the replaced Note
is held by a bona fide purchaser; and
(3) on or after the maturity date or
any redemption date or date for purchase of the Notes pursuant to
an Offer to Purchase, those Notes payable or to be redeemed or
purchased on that date for which the Trustee (or Paying Agent,
other than the Company or an Affiliate of the Company) holds money
sufficient to pay all amounts then due.
(b) A Note does not cease to be
outstanding because the Company or one of its Affiliates holds the
Note, provided that in determining whether the Holders of
the requisite principal amount of the outstanding Notes have given
or taken any request, demand, authorization, direction, notice,
consent, waiver or other action hereunder, Notes owned by the
Company or any Affiliate of the Company will be disregarded and
deemed not to be outstanding, (it being understood that in
determining whether the Trustee is protected in relying upon any
such request, demand, authorization, direction, notice, consent,
waiver or other action, only Notes which the Trustee actually knows
to be so owned will be so disregarded). Notes so owned which have
been pledged in good faith may be regarded as outstanding if the
pledgee establishes to the satisfaction of the Trustee the
pledgee’s right so to act with respect to such Notes and that
the pledgee is not the Company or any Affiliate of the
Company.
Section 2.06 . Temporary
Notes. Until definitive Notes are ready for delivery, the
Company may prepare and the Trustee will authenticate temporary
Notes. Temporary Notes will be substantially in the form of
definitive Notes but may have insertions, substitutions, omissions
and other variations determined to be appropriate by the Officer
executing the temporary Notes, as evidenced by the execution of the
temporary Notes. If temporary Notes are issued, the Company will
cause definitive Notes to be prepared without unreasonable delay.
After the preparation of definitive Notes, the temporary Notes will
be exchangeable for definitive Notes upon surrender of the
temporary Notes at the office or agency of the Company designated
for the purpose pursuant to Section 4.02, without charge to
the Holder. Upon surrender for cancellation of any temporary Notes
the Company will execute and the Trustee will authenticate and
deliver in exchange therefor a like principal amount of definitive
Notes of authorized denominations. Until so exchanged, the
temporary Notes will be entitled to the same benefits under the
Indenture as definitive Notes.
Section 2.07 .
Cancellation. The Company at any time may deliver to the
Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Company may have acquired in any
manner whatsoever, and
38
may
deliver to the Trustee for cancellation any Notes previously
authenticated hereunder which the Company has not issued and sold.
Any Registrar or the Paying Agent will forward to the Trustee any
Notes surrendered to it for transfer, exchange or payment. The
Trustee will cancel all Notes surrendered for transfer, exchange,
payment or cancellation and dispose of them in accordance with its
normal procedures or the written instructions of the Company
received prior to any such cancellation. The Company may not issue
new Notes to replace Notes it has paid in full or delivered to the
Trustee for cancellation.
Section 2.08 . CUSIP and CINS
Numbers. The Company in issuing the Notes may use
“CUSIP” and “CINS” numbers, and the Trustee
will use CUSIP numbers or CINS numbers in notices of redemption or
exchange or in Offers to Purchase as a convenience to Holders, the
notice to state that no representation is made as to the
correctness of such numbers either as printed on the Notes or as
contained in any notice of redemption or exchange or Offer to
Purchase. The Company will promptly notify the Trustee of any
change in the CUSIP or CINS numbers.
Section 2.09 . Registration,
Transfer and Exchange. (a) The Notes will be issued in
registered form only, without coupons, and the Company shall cause
the Trustee to maintain a register (the “ Register
”) of the Notes, for registering the record ownership of the
Notes by the Holders and transfers and exchanges of the
Notes.
(b) (1) Each Global Note
will be registered in the name of the Depositary or its nominee
and, so long as DTC is serving as the Depositary thereof, will bear
the DTC Legend.
(2) Each Global Note will be
delivered to the Trustee as custodian for the Depositary. Transfers
of a Global Note (but not a beneficial interest therein) will be
limited to transfers thereof in whole, but not in part, to the
Depositary, its successors or their respective nominees, except
(1) as set forth in Section 2.09(b)(4) and (2) transfers
of portions thereof in the form of Certificated Notes may be made
upon request of an Agent Member (for itself or on behalf of a
beneficial owner) by written notice given to the Trustee by or on
behalf of the Depositary in accordance with customary procedures of
the Depositary and in compliance with this Section 2.09 and
Section 2.10.
(3) Agent Members will have no rights
under the Indenture with respect to any Global Note held on their
behalf by the Depositary, and the Depositary 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 Note for all purposes
whatsoever. Notwithstanding the foregoing, the Depositary or its
nominee may grant proxies and otherwise authorize any Person
(including any Agent Member and any Person that holds a
39
beneficial
interest in a Global Note through an Agent Member) to take any
action which a Holder is entitled to take under the Indenture or
the Notes, and nothing herein will 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.
(4) If (x) the Depositary
notifies the Company that it is unwilling or unable to continue as
Depositary for a Global Note and a successor depositary is not
appointed by the Company within 90 days of the notice or
(y) an Event of Default has occurred and is continuing and the
Trustee has received a request from the Depositary, the Trustee
will promptly exchange each beneficial interest in the Global Note
for one or more Certificated Notes in authorized denominations
having an equal aggregate principal amount registered in the name
of the owner of such beneficial interest, as identified to the
Trustee by the Depositary, and thereupon the Global Note will be
deemed canceled. If such Note does not bear the Restricted Legend,
then the Certificated Notes issued in exchange therefor will not
bear the Restricted Legend. If such Note bears the Restricted
Legend, then the Certificated Notes issued in exchange therefor
will bear the Restricted Legend, provided that any Holder of
any such Certificated Note issued in exchange for a beneficial
interest in a Temporary Offshore Global Note will have the right
upon presentation to the Trustee of a duly completed Certificate of
Beneficial Ownership after the Restricted Period to exchange such
Certificated Note for a Certificated Note of like tenor and amount
that does not bear the Restricted Legend, registered in the name of
such Holder.
(c) Each Certificated Note will
be registered in the name of the holder thereof or its
nominee.
(d) A Holder may transfer a Note
(or a beneficial interest therein) to another Person or exchange a
Note (or a beneficial interest therein) for another Note or Notes
of any authorized denomination by presenting to the Trustee a
written request therefor stating the name of the proposed
transferee or requesting such an exchange, accompanied by any
certification, opinion or other document required by
Section 2.10. Notwithstanding the foregoing, transfers of the
Initial Certificated Notes to the Selling Noteholders by FIS, and
to the Initial Purchasers by the Selling Noteholders on the date of
this Indenture and exchanges of the Initial Certificated Notes by
the Initial Purchasers on the date of this Indenture for beneficial
interests in one or more Global Notes shall not require the
delivery of any certification, opinion or other document required
by Section 2.10. The Trustee will promptly register any
transfer or exchange that meets the requirements of this Section by
noting the same in the register maintained by the Trustee for the
purpose; provided that
40
(x) no transfer or exchange will be
effective until it is registered in such register, and
(y) the Trustee will not be required
(i) to issue, register the transfer of or exchange any Note
for a period of seven days before a selection of Notes to be
redeemed or purchased pursuant to an Offer to Purchase,
(ii) to register the transfer of or exchange any Note so
selected for redemption or purchase in whole or in part, except, in
the case of a partial redemption or purchase, that portion of any
Note not being redeemed or purchased, or (iii) if a redemption
or a purchase pursuant to an Offer to Purchase is to occur after a
Regular Record Date but on or before the corresponding Interest
Payment Date, to register the transfer of or exchange any Note on
or after the Regular Record Date and before the date of redemption
or purchase. Prior to the registration of any transfer, the
Company, the Trustee and their agents will treat the Person in
whose name the Note is registered as the owner and Holder thereof
for all purposes (whether or not the Note is overdue), and will not
be affected by notice to the contrary.
From time to time the Company will
execute and deliver to the Trustee and the Trustee will
authenticate additional Notes as necessary in order to permit the
registration of a transfer or exchange in accordance with this
Section.
No service charge will be imposed in
connection with any transfer or exchange of any Note, but the
Company may require payment of a sum sufficient to cover any
transfer tax or similar governmental charge payable in connection
therewith (other than a transfer tax or other similar governmental
charge payable upon exchange pursuant to subsection (b)(4)).
(e) (1) Global Note to Global
Note . If a beneficial interest in a Global Note is transferred
or exchanged for a beneficial interest in another Global Note, the
Trustee will (x) record a decrease in the principal amount of
the Global Note being transferred or exchanged equal to the
principal amount of such transfer or exchange and (y) record a
like increase in the principal amount of the other Global Note. Any
beneficial interest in one Global Note that is transferred to a
Person who takes delivery in the form of an interest in another
Global Note, or exchanged for an interest in another Global N
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