Exhibit 4.2
NINETEENTH SUPPLEMENTAL INDENTURE
dated as of December 13, 2005
____________________
This Nineteenth Supplemental
Indenture, dated as of the 13 th day of December, 2005
between CMS Energy Corporation, a corporation duly organized and
existing under the laws of the State of Michigan (hereinafter
called the “ Issuer ”) and having its principal
office at One Energy Plaza, Jackson, Michigan 49201, and JPMorgan
Chase Bank, N.A., a national banking association (hereinafter
called the “ Trustee ”) and having its Corporate
Trust Office at 4 New York Plaza, New York, New York 10004.
WITNESSETH:
WHEREAS, the Issuer and the Trustee
(successor to NBD Bank, National Association) entered into an
Indenture, dated as of September 15, 1992 (the “
Original Indenture ”), pursuant to which one or more
series of debt securities of the Issuer (the “
Securities ”) may be issued from time to time; and
WHEREAS, Section 2.3 of the
Original Indenture permits the terms of any series of Securities to
be established in an indenture supplemental to the Original
Indenture; and
WHEREAS, Section 8.1(e) of the
Original Indenture provides that a supplemental indenture may be
entered into by the Issuer and the Trustee without the consent of
any Holders (as defined in the Original Indenture) of the
Securities to establish the form and terms of the Securities of any
series; and
WHEREAS, the Issuer has requested the
Trustee to join with it in the execution and delivery of this
Nineteenth Supplemental Indenture in order to supplement and amend
the Original Indenture by, among other things, establishing the
form and terms of a series of Securities to be known as the
Issuer’s “6.875% Senior Notes due 2015” (the
“ 2015 Notes ”), providing for the issuance of
the 2015 Notes and amending and adding certain provisions thereof
for the benefit of the Holders of the 2015 Notes; and
WHEREAS, the Issuer and the Trustee
desire to enter into this Nineteenth Supplemental Indenture for the
purposes set forth in Sections 2.3 and 8.1(e) of the Original
Indenture as referred to above; and
WHEREAS, the Issuer has furnished the
Trustee with a copy of the resolutions of its Board of Directors
certified by its Secretary or Assistant Secretary authorizing the
execution of this Nineteenth Supplemental Indenture; and
WHEREAS, all things necessary to make
this Nineteenth Supplemental Indenture a valid agreement of the
Issuer and the Trustee and a valid supplement to the Original
Indenture have been done;
NOW, THEREFORE, for and in
consideration of the premises and the purchase of the 2015 Notes to
be issued hereunder by holders thereof, the Issuer and the Trustee
mutually covenant and agree, for the equal and proportionate
benefit of the respective holders from time to time of the 2015
Notes, as follows:
ARTICLE I
STANDARD PROVISIONS; DEFINITIONS
SECTION 1.01. Standard
Provisions . The Original Indenture together with this
Nineteenth Supplemental Indenture and all previous indentures
supplemental thereto entered into pursuant to the applicable terms
thereof are hereinafter sometimes collectively referred to as the
“ Indenture .” All capitalized terms which are
used herein and not otherwise defined herein are defined in the
Indenture and are used herein with the same meanings as in the
Indenture.
SECTION 1.02. Definitions
.
(a) The following terms have the
meanings set forth in the Sections hereof set forth below:
|
|
|
|
|
|
|
Term
|
|
Section
|
|
|
|
|
2.04
|
|
|
|
|
|
4.06
|
|
|
|
|
|
4.06
|
|
|
|
|
|
3.01
|
|
Change in Control
Purchase Notice
|
|
|
3.01
|
(b)
|
Change in Control
Purchase Price
|
|
|
3.01
|
|
|
|
|
|
2.03
|
|
|
|
|
Article VI
|
|
|
|
|
2.03
|
|
|
|
|
|
5.01
|
|
|
|
|
|
4.06
|
|
|
|
|
Article VI
|
|
|
|
|
1.01;
2.04
|
|
|
|
|
|
2.03
|
|
|
|
|
|
4.04
|
(a)
|
|
|
|
Preamble; 2.03
|
|
|
|
|
4.02
|
(a)
|
|
|
|
|
2.03
|
|
|
|
|
Recitals
|
|
|
|
|
2.03
|
|
|
|
|
|
2.03
|
|
|
|
|
3.01(a)(iii)
|
|
|
|
|
2.03
|
|
|
|
|
|
3.01
|
|
Required Repurchase
Notice
|
|
|
3.01
|
(a)
|
|
|
|
|
4.05
|
(a)
|
|
|
|
Recitals
|
|
|
|
|
2.04
|
|
|
|
|
Preamble; 2.04
|
|
|
|
Recitals; 2.04
|
(b) Section 1.1 of the
Original Indenture is amended to insert the new definitions
applicable to the 2015 Notes, in the appropriate alphabetical
sequence, as follows:
" Amortization Expense ”
means, for any period, amounts recognized during such period as
amortization of capital leases, depletion, nuclear fuel, goodwill
and assets classified as intangible assets in accordance with
generally accepted accounting principles.
" Average Life ” means,
as of the date of determination, with respect to any Indebtedness,
the quotient obtained by dividing (i) the sum of the products
of (x) the number of years from the date of determination to
the dates of each successive scheduled principal payment of such
Indebtedness and (y) the amount of such principal payment by
(ii) the sum of all such principal payments.
" Capital Lease Obligation
” of a Person means any obligation that is required to be
classified and accounted for as a capital lease on the face of a
balance sheet of such Person prepared in accordance with generally
accepted accounting principles; the amount of such obligation shall
be the capitalized amount thereof, determined in accordance with
generally accepted accounting principles; the stated maturity
thereof shall be the date of the last payment of rent or any other
amount due under such lease prior to the first date upon which such
lease may be terminated by the lessee without payment of a penalty;
and such obligation shall be deemed secured by a Lien on any
property or assets to which such lease relates.
" Capital Stock ” means
any and all shares, interests, rights to purchase, warrants,
options, participations or other equivalents of or interests in
(however designated) corporate stock, including any Preferred Stock
or Letter Stock; provided that Hybrid Preferred Securities shall
not be considered Capital Stock for purposes of this
definition.
" Change in Control ”
means an event or series of events by which: (i) the Issuer
ceases to own beneficially, directly or indirectly, at least 80% of
the total voting power of all classes of Capital Stock then
outstanding of Consumers (whether arising from issuance of
securities of the Issuer or Consumers, any direct or indirect
transfer of securities by the Issuer or Consumers, any merger,
consolidation, liquidation or dissolution of the Issuer or
Consumers or otherwise); (ii) any “person” or
“group” (as such terms are used in Sections 13(d) and
14(d) of the Exchange Act) becomes the “beneficial
owner” (as such term is used in Rules 13d-3 and 13d-5
under the Exchange Act, except that a person or group shall be
deemed to have “beneficial ownership” of all shares
that such person or group has the right to acquire, whether such
right is exercisable immediately or only after the passage of
time), directly or indirectly, of more than 35% of the Voting Stock
of the Issuer; or (iii) the Issuer consolidates with or merges
into another corporation or directly or indirectly conveys,
transfers or leases all or substantially all of its assets to any
Person, or any corporation consolidates with or merges into the
Issuer, in either event pursuant to a transaction in which the
outstanding Voting Stock of the Issuer is changed into or exchanged
for cash, securities, or other property, other than any such
transaction in which (A) the outstanding Voting Stock of the
Issuer is changed into or exchanged for Voting Stock of the
surviving corporation and (B) the holders of the Voting Stock
of the Issuer immediately prior to such transaction retain,
directly or indirectly, substantially proportionate ownership of
the Voting Stock of the surviving corporation immediately after
such transaction.
" CMS Electric and Gas ”
means CMS Electric and Gas Company, a Michigan corporation and
wholly-owned subsidiary of Enterprises.
“CMS ERM” means
CMS Energy Resource Management Company, formerly CMS MST, a
wholly-owned subsidiary of Enterprises.
" CMS Gas Transmission ”
means CMS Gas Transmission Company (formerly known as CMS Gas
Transmission and Storage Company), a Michigan corporation and
wholly-owned subsidiary of Enterprises.
" CMS Generation ” means
CMS Generation Co., a Michigan corporation and wholly-owned
subsidiary of Enterprises.
" CMS MST ” means CMS
Marketing, Services and Trading Company, a wholly-owned subsidiary
of Enterprises, whose name was changed to CMS Energy Resource
Management Company effective January 2004.
" Consolidated Assets ”
means, at any date of determination, the aggregate assets of the
Issuer and its Consolidated Subsidiaries determined on a
consolidated basis in accordance with generally accepted accounting
principles.
" Consolidated Coverage Ratio
” with respect to any period means the ratio of (i) the
aggregate amount of Operating Cash Flow for such period to
(ii) the aggregate amount of Consolidated Interest Expense for
such period.
" Consolidated Current
Liabilities ” means, for any period, the aggregate amount
of liabilities of the Issuer and its Consolidated Subsidiaries
which may properly be classified as current liabilities (including
taxes accrued as estimated), after (i) eliminating all
inter-company items between the Issuer and any Consolidated
Subsidiary and (ii) deducting all current maturities of
long-term Indebtedness, all as determined in accordance with
generally accepted accounting principles.
" Consolidated Indebtedness
” means, at any date of determination, the aggregate
Indebtedness of the Issuer and its Consolidated Subsidiaries
determined on a consolidated basis in accordance with generally
accepted accounting principles; provided that Consolidated
Indebtedness shall not include any subordinated debt owned by any
Hybrid Preferred Securities Subsidiary.
" Consolidated Interest
Expense ” means, for any period, the total interest
expense in respect of Consolidated Indebtedness of the Issuer and
its Consolidated Subsidiaries, including, without duplication,
(i) interest expense attributable to capital leases,
(ii) amortization of debt discount, (iii) capitalized
interest, (iv) cash and noncash interest payments,
(v) commissions, discounts and other fees and charges owed
with respect to letters of credit and bankers’ acceptance
financing, (vi) net costs under Interest Rate Protection
Agreements (including amortization of discount) and
(vii) interest expense in respect of obligations of other
Persons deemed to be Indebtedness of the Issuer or any Consolidated
Subsidiaries under clause (v) or (vi) of the definition
of Indebtedness, provided, however , that Consolidated
Interest Expense shall exclude (A) any costs otherwise included in
interest expense recognized on early retirement of debt and
(B) any interest expense in respect of any Indebtedness of any
Subsidiary of Consumers, CMS Generation, CMS Electric and Gas, CMS
Gas Transmission, CMS ERM or any other Designated Enterprises
Subsidiary, provided that such Indebtedness is without
recourse to any assets of the Issuer, Consumers, Enterprises, CMS
Generation, CMS Electric and Gas, CMS Gas Transmission, CMS ERM or
any other Designated Enterprises Subsidiary.
" Consolidated Net Income
” means, for any period, the net income of the Issuer and its
Consolidated Subsidiaries determined on a consolidated basis in
accordance with generally accepted accounting principles;
provided, however , that there shall not be included in such
Consolidated Net Income:
(i) any net income of any Person
if such Person is not a Subsidiary, except that (A) the
Issuer’s equity in the net income of any such Person for such
period shall be included in such Consolidated Net Income up to the
aggregate amount of cash actually distributed by such Person during
such period to the Issuer or a Consolidated Subsidiary as a
dividend or other distribution and (B) the Issuer’s
equity in a net loss of any such Person for such period shall be
included in determining such Consolidated Net Income;
(ii) any net income of any
Person acquired by the Issuer or a Subsidiary in a pooling of
interests transaction for any period prior to the date of such
acquisition;
(iii) any gain or loss realized
upon the sale or other disposition of any property, plant or
equipment of the Issuer or its Consolidated Subsidiaries which is
not sold or otherwise disposed of in the ordinary course of
business and any gain or loss realized upon the sale or other
disposition of any Capital Stock of any Person; and
(iv) any net income of any
Subsidiary of Consumers, CMS Generation, CMS Electric and Gas, CMS
Gas Transmission, CMS ERM or any other Designated Enterprises
Subsidiary whose interest expense is excluded from Consolidated
Interest Expense, provided, however, that for purposes of
this subsection (iv), any cash, dividends or distributions of any
such Subsidiary to the Issuer shall be included in calculating
Consolidated Net Income.
" Consolidated Net Tangible
Assets ” means, for any period, the total amount of
assets (less accumulated depreciation or amortization, allowances
for doubtful receivables, other applicable reserves and other
properly deductible items) as set forth on the most recently
available quarterly or annual consolidated balance sheet of the
Issuer and its Consolidated Subsidiaries, determined on a
consolidated basis in accordance with generally accepted accounting
principles, and after giving effect to purchase accounting and
after deducting therefrom, to the extent otherwise included, the
amounts of: (i) Consolidated Current Liabilities;
(ii) minority interests in Consolidated Subsidiaries held by
Persons other than the Issuer or a Restricted Subsidiary;
(iii) excess of cost over fair value of assets of businesses
acquired, as determined in good faith by the Board of Directors as
evidenced by resolutions of the Board of Directors; (iv) any
revaluation or other write-up in value of assets subsequent to
December 31, 1996, as a result of a change in the method of
valuation in accordance with generally accepted accounting
principles; (v) unamortized debt discount and expenses and
other unamortized deferred charges, goodwill, patents, trademarks,
service marks, trade names, copyrights, licenses, organization or
developmental expenses and other intangible items;
(vi) treasury stock; and (vii) any cash set apart and
held in a sinking or other analogous fund established for the
purpose of redemption or other retirement of Capital Stock to the
extent such obligation is not reflected in Consolidated Current
Liabilities.
" Consolidated Net Worth
” of any Person means the total of the amounts shown on the
consolidated balance sheet of such Person and its consolidated
subsidiaries, determined on a consolidated basis in accordance with
generally accepted accounting principles, as of any date selected
by such Person not more than 90 days prior to the taking of
any action for the purpose of which the determination is being made
(and adjusted for any material events since such date), as
(i) the par or stated value of all outstanding Capital Stock
plus (ii) paid-in capital or capital surplus relating to such
Capital Stock plus (iii) any retained earnings or earned
surplus less (A) any accumulated deficit, (B) any amounts
attributable to Redeemable Stock and (C) any amounts
attributable to Exchangeable Stock.
" Consolidated Subsidiary
” means any Subsidiary whose accounts are or are required to
be consolidated with the accounts of the Issuer in accordance with
generally accepted accounting principles.
" Consumers ” means
Consumers Energy Company, a Michigan corporation, all of whose
common stock is on the date hereof owned by the Issuer.
" Designated Enterprises
Subsidiary ” means any wholly-owned subsidiary of
Enterprises formed after the date of this Nineteenth Supplemental
Indenture which is designated a Designated Enterprises Subsidiary
by the Board of Directors.
" Enterprises ” means
CMS Enterprises Company, a Michigan corporation and wholly-owned
subsidiary of the Issuer.
" Exchange Act ” means
the Securities Exchange Act of 1934, as amended.
" Exchangeable Stock ”
means any Capital Stock of a corporation that is exchangeable or
convertible into another security (other than Capital Stock of such
corporation that is neither Exchangeable Stock, nor Redeemable
Stock).
" Hybrid Preferred Securities
” means any preferred securities issued by a Hybrid Preferred
Securities Subsidiary, where such preferred securities have the
following characteristics:
(i) such Hybrid Preferred
Securities Subsidiary lends substantially all of the proceeds from
the issuance of such preferred securities to the Issuer or
Consumers in exchange for subordinated debt issued by the Issuer or
Consumers respectively;
(ii) such preferred securities
contain terms providing for the deferral of distributions
corresponding to provisions providing for the deferral of interest
payments on such subordinated debt; and
(iii) the Issuer or Consumers
(as the case may be) makes periodic interest payments on such
subordinated debt, which interest payments are in turn used by the
Hybrid Preferred Securities Subsidiary to make corresponding
payments to the holders of the Hybrid Preferred Securities.
" Hybrid Preferred Securities
Subsidiary ” means any business trust (or similar entity)
(i) all of the common equity interest of which is owned
(either directly or indirectly through one or more wholly-owned
Subsidiaries of the Issuer or Consumers) at all times by the Issuer
or Consumers, (ii) that has been formed for the purpose of issuing
Hybrid Preferred Securities and (iii) substantially all of the
assets of which consist at all times solely of subordinated debt
issued by the Issuer or Consumers (as the case may be) and payments
made from time to time on such subordinated debt.
" Indebtedness ” of any
Person means, without duplication:
(i) the principal of and premium
(if any) in respect of (A) indebtedness of such Person for
money borrowed and (B) indebtedness evidenced by notes,
debentures, bonds or other similar instruments for the payment of
which such Person is responsible or liable;
(ii) all Capital Lease
Obligations of such Person;
(iii) all obligations of such
Person issued or assumed as the deferred purchase price of
property, all conditional sale obligations and all obligations
under any title retention agreement (but excluding trade accounts
payable arising in the ordinary course of business);
(iv) all obligations of such
Person for the reimbursement of any obligor on any letter of
credit, bankers’ acceptance or similar credit transaction
(other than obligations with respect to letters of credit securing
obligations (other than obligations described in clauses
(i) through (iii) above) entered into in the ordinary
course of business of such Person to the extent such letters of
credit are not drawn upon or, if and to the extent drawn upon, such
drawing is reimbursed no later than the third Business Day
following receipt by such Person of a demand for reimbursement
following payment on the letter of credit);
(v) all obligations of the type
referred to in clauses (i) through (iv) above of other
Persons and all dividends of other Persons for the payment of
which, in either case, such Person is responsible or liable as
obligor, guarantor or otherwise; and
(vi) all obligations of the type
referred to in clauses (i) through (v) above of other
Persons secured by any Lien on any property or asset of such Person
(whether or not such obligation is assumed by such Person), the
amount of such obligation being deemed to be the lesser of the
value of such property or assets or the amount of the obligation so
secured.
" Interest Rate Protection
Agreement ” means any interest rate swap agreement,
interest rate cap agreement or other financial agreement or
arrangement designed to protect the Issuer or any Subsidiary
against fluctuations in interest rates.
" Letter Stock ”, as
applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) which is
intended to reflect the separate performance of certain of the
businesses or operations conducted by such corporation or any of
its subsidiaries.
" Net Cash Proceeds ”
means, (a) with respect to any Asset Sale, the aggregate
proceeds of such Asset Sale including the fair market value (as
determined by the Board of Directors and net of any associated debt
and of any consideration other than Capital Stock received in
return) of property other than cash, received by the Issuer, net of
(i) brokerage commissions and other fees and expenses
(including fees and expenses of counsel and investment bankers)
related to such Asset Sale, (ii) provisions for all taxes
(whether or not such taxes will actually be paid or are payable) as
a result of such Asset Sale without regard to the consolidated
results of operations of the Issuer and its Restricted
Subsidiaries, taken as a whole, (iii) payments made to repay
Indebtedness or any other obligation outstanding at the time of
such Asset Sale that either (A) is secured by a Lien on the
property or assets sold or (B) is required to be paid as a
result of such sale and (iv) appropriate amounts to be
provided by the Issuer or any Restricted Subsidiary of the Issuer
as a reserve against any liabilities associated with such Asset
Sale including, without limitation, pension and other
post-employment benefit liabilities, liabilities related to
environmental matters and liabilities under any indemnification
obligations associated with such Asset Sale, all as determined in
conformity with generally accepted accounting principles and (b)
with respect to any issuance or sale or contribution in respect of
Capital Stock, the aggregate proceeds of such issuance, sale or
contribution, including the fair market value (as determined by the
Board of Directors and net of any associated debt and of any
consideration other than Capital Stock received in return) of
property other than cash, received by the Issuer, net of
attorneys’ fees, accountants’ fees, underwriters’
or placement agents’ fees, discounts or commissions and
brokerage, consultant and other fees incurred in connection with
such issuance or sale and net of taxes paid or payable as a result
thereof, provided, however , that if such fair market value
as determined by the Board of Directors of property other than cash
is greater than $25 million, the value thereof shall be based
upon an opinion from an independent nationally recognized firm
experienced in the appraisal or similar review of similar types of
transactions.
" Non-Convertible Capital
Stock ” means, with respect to any corporation, any
non-convertible Capital Stock of such corporation and any Capital
Stock of such corporation convertible solely into non-convertible
Capital Stock other than Preferred Stock of such corporation;
provided, however , that Non-Convertible Capital Stock shall
not include any Redeemable Stock or Exchangeable Stock.
" Operating Cash Flow ”
means, for any period, with respect to the Issuer and its
Consolidated Subsidiaries, the aggregate amount of Consolidated Net
Income after adding thereto Consolidated Interest Expense (adjusted
to include costs recognized on early retirement of debt), income
taxes, depreciation expense, Amortization Expense and any noncash
amortization of debt issuance costs, any nonrecurring, noncash
charges to earnings and any negative accretion recognition.
" Other Rating Agency ”
means any one of Fitch, Inc. or Moody’s Investors Service,
Inc., and any successor to any of these organizations which is a
nationally recognized statistical rating organization.
" Paying Agent ” means
any Person authorized by the Issuer to pay the principal of (and
premium, if any) or interest on any of the 2015 Notes on behalf of
the Issuer. Initially, the Paying Agent shall be the Trustee.
" Predecessor 2015 Note
” of any particular 2015 Note means every previous 2015 Note
evidencing all or a portion of the same debt as that evidenced by
such particular 2015 Note; and, for the purposes of the definition,
any 2015 Note authenticated and delivered under Section 2.9 of
the Indenture in exchange for or in lieu of a mutilated, destroyed,
lost or stolen 2015 Note shall be deemed to evidence the same debt
as the mutilated, destroyed, lost or stolen 2015 Note.
" Preferred Stock ”, as
applied to the Capital Stock of any corporation, means Capital
Stock of any class or classes (however designated) that is
preferred as to the payment of dividends, or as to the distribution
of assets upon any voluntary or involuntary liquidation or
dissolution of such corporation, over shares of Capital Stock of
any other class of such corporation; provided that Hybrid Preferred
Securities shall not be considered Preferred Stock for purposes of
this definition.
" Redeemable Stock ”
means any Capital Stock that by its terms or otherwise is required
to be redeemed prior to the first anniversary of the Stated
Maturity of the outstanding 2015 Notes or is redeemable at the
option of the holder thereof at any time prior to the first
anniversary of the Stated Maturity of the outstanding 2015
Notes.
“ Regulation S
” means Regulation S under the Securities Act.
" Restricted Subsidiary
” means any Subsidiary (other than Consumers and its
Subsidiaries) of the Issuer which, as of the date of the
Issuer’s most recent quarterly consolidated balance sheet,
constituted at least 10% of the total Consolidated Assets of the
Issuer and its Consolidated Subsidiaries and any other Subsidiary
which from time to time is designated a Restricted Subsidiary by
the Board of Directors; provided that no Subsidiary may be
designated a Restricted Subsidiary if, immediately after giving
effect thereto, an Event of Default or event that, with the lapse
of time or giving of notice or both, would constitute an Event of
Default would exist or the Issuer and its Restricted Subsidiaries
could not incur at least one dollar of additional Indebtedness
under Section 4.04 hereof, and (i) any such Subsidiary so
designated as a Restricted Subsidiary must be organized under the
laws of the United States or any State thereof, (ii) more than
80% of the Voting Stock of such Subsidiary must be owned of record
and beneficially by the Issuer or a Restricted Subsidiary and
(iii) such Restricted Subsidiary must be a Consolidated
Subsidiary.
“ Securities Act ”
means the Securities Act of 1933, as amended.
" Standard & Poor’s
” means Standard & Poor’s Ratings Group, a division
of The McGraw-Hill Companies, Inc., and any successor thereto which
is a nationally recognized statistical rating organization, or, if
such entity shall cease to rate the 2015 Notes or shall cease to
exist and there shall be no such successor thereto, any other
nationally recognized statistical rating organization selected by
the Issuer.
" Subordinated Indebtedness
” means any Indebtedness of the Issuer (whether outstanding
on the date of this Nineteenth Supplemental Indenture or thereafter
incurred) which is contractually subordinated or junior in right of
payment to the 2015 Notes.
" Support Obligations ”
means, for any Person, without duplication, any financial
obligation, contingent or otherwise, of such Person guaranteeing or
otherwise supporting any debt or other obligation of any other
Person in any manner, whether directly or indirectly, and
including, without limitation, any obligation of such Person,
direct or indirect, (i) to purchase or pay (or advance or
supply funds for the purchase or payment of) such debt or to
purchase (or to advance or supply funds for the purchase of) any
security for the payment of such debt, (ii) to purchase
property, securities or services for the purpose of assuring the
owner of such debt of the payment of such debt, (iii) to
maintain working capital, equity capital, available cash or other
financial statement condition of the primary obligor so as to
enable the primary obligor to pay such debt, (iv) to provide
equity capital under or in respect of equity subscription
arrangements (to the extent that such obligation to provide equity
capital does not otherwise constitute debt), or (v) to perform, or
arrange for the performance of, any non-monetary obligations or
non-funded debt payment obligations of the primary obligor.
" Tax Sharing Agreement
” means the Amended and Restated Agreement for the Allocation
of Income Tax Liabilities and Benefits, dated January 1, 1994,
as amended or supplemented from time to time, by and among Issuer,
each of the members of the Consolidated Group (as defined therein),
and each of the corporations that become members of the
Consolidated Group.
" Voting Stock ” means
securities of any class or classes the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for
corporate directors (or persons performing similar functions).
ARTICLE II
DESIGNATION AND
TERMS OF THE 2015 NOTES; FORMS
SECTION 2.01. Establishment of
Series .
(a) There is hereby created a
series of Securities to be known and designated as the
“6.875% Senior Notes due 2015” to be issued in
aggregate principal amount of $125,000,000. Additional Securities,
without limitation as to amount, having substantially the same
terms as the 2015 Notes (except a different issue date, issue price
and bearing interest from the last Interest Payment Date to which
interest has been paid or duly provided for on the 2015 Notes, and,
if no interest has been paid, from December 13, 2005), may
also be issued by the Issuer pursuant to the Indenture without the
consent of the existing Holders of the 2015 Notes. Such additional
Securities shall be part of the same series as the 2015 Notes. The
Stated Maturity of the 2015 Notes is December 15, 2015; the
principal amount of the 2015 Notes shall be payable on such date
unless the 2015 Notes are earlier redeemed or purchased in
accordance with the terms of the Indenture.
(b) The 2015 Notes will bear
interest from the Original Issue Date, or from the most recent date
to which interest has been paid or duly provided for, at the rate
of 6.875% per annum stated therein until the principal thereof is
paid or made available for payment. Interest will be payable
semiannually on each Interest Payment Date and at Maturity, as
provided in the form of the 2015 Note in Section 2.03
hereof.
(c) The Record Date referred to
in Section 2.3(f)(4) of the Indenture for the payment of the
interest on any 2015 Note payable on any Interest Payment Date
(other than at Maturity) shall be the 15th day prior to the
relevant Interest Payment Date (whether or not a Business Day)
except that the Record Date for interest payable at Maturity shall
be the date of Maturity.
(d) The payment of the principal
of, premium (if any) and interest on the 2015 Notes shall not be
secured by a security interest in any property.
(e) The 2015 Notes shall be
redeemable at the option of the Issuer, in whole or in part, at any
time and from time to time, or not less than 30, nor more than
60 days notice at a redemption price equal to 100% of the
principal amount of such 2015 Notes being redeemed plus the
Applicable Premium, if any, thereon at the time of redemption,
together with accrued interest, if any, thereon to the redemption
date. In no event will the redemption price ever be less than 100%
of the principal amount of the 2015 Notes plus accrued interest, if
any, thereon to the redemption date. The 2015 Notes shall be
purchased by the Issuer at the option of the Holders thereof as
provided in Article III hereof.
(f) The 2015 Notes shall not be
convertible.
(g) The 2015 Notes will not be
subordinated to the payment of Senior Debt.
(h) The Issuer will not pay any
additional amounts on the 2015 Notes held by a Person who is not a
U.S. person (as defined in Regulation S) in respect of any
tax, assessment or government charge withheld or deducted.
(i) The events specified in
Events of Default with respect to the 2015 Notes shall include the
events specified in Article V of this Nineteenth Supplemental
Indenture. In addition to the covenants set forth in
Article Three of the Original Indenture, the Holders of the
2015 Notes shall have the benefit of the covenants of the Issuer
set forth in this Nineteenth Supplemental Indenture.
SECTION 2.02. Forms Generally
. The 2015 Notes and Trustee’s certificates of authentication
shall be in substantially the form set forth in this
Article II, with such appropriate insertions, omissions,
substitutions and other variations as are required or permitted by
the Indenture, and may have such letters, numbers or other marks of
identification and such legends or endorsements placed thereon as
may be required to comply with the rules of any securities exchange
or as may, consistently herewith, be determined by the officers
executing such 2015 Notes, as evidenced by their execution
thereof.
The definitive 2015 Notes shall be
printed, lithographed