EXHIBIT 4.1
COMPUTER SCIENCES
CORPORATION
5.50% SENIOR NOTES DUE
2013
6.50% SENIOR NOTES DUE
2018
INDENTURE
Dated as of March 3, 2008
The Bank of New York Trust Company,
N.A.
Trustee
CROSS-REFERENCE TABLE*
|
Trust
Indenture
Act
Section
|
Indenture Section
|
|
310(a)(1)
|
7.10
|
|
(a)(2)
|
7.10
|
|
(a)(3)
|
N.A.
|
|
(a)(4)
|
N.A.
|
|
(a)(5)
|
7.10
|
|
(b)
|
7.10
|
|
(c)
|
N.A.
|
|
311(a)
|
7.11
|
|
(b)
|
7.11
|
|
(c)
|
N.A.
|
|
312(a)
|
2.05
|
|
(b)
|
11.03
|
|
(c)
|
11.03
|
|
313(a)
|
7.06
|
|
(b)(1)
|
N.A.
|
|
(b)(2)
|
7.06; 7.07
|
|
(c)
|
7.06; 11.02
|
|
(d)
|
7.06
|
|
314(a)
|
4.03;11.02; 11.05
|
|
(b)
|
N.A.
|
|
(c)(1)
|
11.04
|
|
(c)(2)
|
11.04
|
|
(c)(3)
|
N.A.
|
|
(d)
|
N.A.
|
|
(e)
|
11.05
|
|
(f)
|
N.A.
|
|
315(a)
|
7.01
|
|
(b)
|
7.05; 11.02
|
|
(c)
|
7.01
|
|
(d)
|
7.01
|
|
(e)
|
6.11
|
|
316(a) (last
sentence)
|
2.09
|
|
(a)(1)(A)
|
6.05
|
|
(a)(1)(B)
|
6.04
|
|
(a)(2)
|
N.A.
|
|
(b)
|
6.07
|
|
(c)
|
2.12
|
|
317(a)(1)
|
6.08
|
|
(a)(2)
|
6.09
|
|
(b)
|
2.04
|
|
318(a)
|
11.01
|
|
(b)
|
N.A.
|
|
(c)
|
11.01
|
N.A. means not
applicable.
* This Cross Reference Table is not
part of the Indenture.
TABLE OF CONTENTS
ARTICLE 1
DEFINITIONS AND
INCORPORATION
BY REFERENCE
|
|
|
Page
|
|
|
|
|
|
Section
1.01
|
Definitions
|
1
|
|
Section
1.02
|
Other
Definitions
|
10
|
|
Section
1.03
|
Incorporation
by Reference of Trust Indenture Act.
|
10
|
|
Section
1.04
|
Rules of
Construction
|
10
|
ARTICLE 2
THE NOTES
|
Section
2.01
|
Form and
Dating
|
11
|
|
Section
2.02
|
Execution and
Authentication
|
11
|
|
Section
2.03
|
Registrar and
Paying Agent
|
12
|
|
Section
2.04
|
Paying Agent to
Hold Money in Trust
|
12
|
|
Section
2.05
|
Holder
Lists
|
12
|
|
Section
2.06
|
Transfer and
Exchange.
|
13
|
|
Section
2.07
|
Replacement
Notes.
|
24
|
|
Section
2.08
|
Outstanding
Notes.
|
24
|
|
Section
2.09
|
Treasury
Notes.
|
25
|
|
Section
2.10
|
Temporary
Notes.
|
25
|
|
Section
2.11
|
Cancellation.
|
25
|
|
Section
2.12
|
Defaulted
Interest.
|
25
|
|
Section
2.13
|
CUSIP
Numbers.
|
26
|
ARTICLE 3
REDEMPTION AND PREPAYMENT
|
Section
3.01
|
Notices to
Trustee.
|
26
|
|
Section
3.02
|
Selection of
Notes to Be Redeemed or Purchased.
|
26
|
|
Section
3.03
|
Notice of
Redemption.
|
27
|
|
Section
3.04
|
Effect of
Notice of Redemption.
|
27
|
|
Section
3.05
|
Deposit of
Redemption or Purchase Price.
|
28
|
|
Section
3.06
|
Notes Redeemed
or Purchased in Part.
|
28
|
|
Section
3.07
|
Optional
Redemption.
|
28
|
|
Section
3.08
|
Mandatory
Redemption.
|
28
|
ARTICLE 4
COVENANTS
|
Section
4.01
|
Payment of
Notes.
|
29
|
|
Section
4.02
|
Maintenance of
Office or Agency.
|
29
|
|
Section
4.03
|
Reports.
|
29
|
|
Section
4.04
|
Compliance
Certificate.
|
30
|
|
Section
4.05
|
Taxes.
|
30
|
|
Section
4.06
|
Stay, Extension
and Usury Laws.
|
30
|
|
Section
4.07
|
Limitations on
Liens.
|
31
|
|
Section
4.08
|
Corporate
Existence.
|
31
|
|
Section
4.09
|
Change of
Control.
|
32
|
|
Section
4.10
|
Limitation on
Sale and Leaseback Transactions.
|
33
|
|
Section
4.11
|
Permitted Liens
and Permitted Sale and Leaseback Transactions.
|
33
|
ARTICLE 5
SUCCESSORS
|
|
|
Page
|
|
|
|
|
|
Section
5.01
|
Merger,
Consolidation, or Sale of Assets.
|
34
|
|
Section
5.02
|
Successor
Corporation Substituted.
|
34
|
ARTICLE 6
DEFAULTS AND REMEDIES
|
Section
6.01
|
Events of
Default.
|
35
|
|
Section
6.02
|
Acceleration.
|
35
|
|
Section
6.03
|
Other
Remedies.
|
36
|
|
Section
6.04
|
Waiver of Past
Defaults.
|
36
|
|
Section
6.05
|
Control by
Majority.
|
36
|
|
Section
6.06
|
Limitation on
Suits.
|
36
|
|
Section
6.07
|
Rights of
Holders of Notes to Receive Payment.
|
37
|
|
Section
6.08
|
Collection Suit
by Trustee.
|
37
|
|
Section
6.09
|
Trustee May
File Proofs of Claim.
|
37
|
|
Section
6.10
|
Priorities.
|
38
|
|
Section
6.11
|
Undertaking for
Costs.
|
38
|
ARTICLE 7
TRUSTEE
|
Section
7.01
|
Duties of
Trustee.
|
38
|
|
Section
7.02
|
Rights of
Trustee.
|
39
|
|
Section
7.03
|
Individual
Rights of Trustee.
|
40
|
|
Section
7.04
|
Trustee’s
Disclaimer.
|
40
|
|
Section
7.05
|
Notice of
Defaults.
|
40
|
|
Section
7.06
|
Reports by
Trustee to Holders of the Notes.
|
41
|
|
Section
7.07
|
Compensation
and Indemnity.
|
41
|
|
Section
7.08
|
Replacement of
Trustee.
|
42
|
|
Section
7.09
|
Successor
Trustee by Merger, etc.
|
43
|
|
Section
7.10
|
Eligibility;
Disqualification.
|
43
|
|
Section
7.11
|
Preferential
Collection of Claims Against Company.
|
43
|
ARTICLE 8
LEGAL DEFEASANCE AND COVENANT
DEFEASANCE
|
Section
8.01
|
Option to
Effect Legal Defeasance or Covenant Defeasance.
|
43
|
|
Section
8.02
|
Legal
Defeasance and Discharge.
|
43
|
|
Section
8.03
|
Covenant
Defeasance.
|
44
|
|
Section
8.04
|
Conditions to
Legal or Covenant Defeasance.
|
44
|
|
Section
8.05
|
Deposited Money
and Government Securities to be Held in Trust; Other Miscellaneous
Provisions.
|
45
|
|
Section
8.06
|
Repayment to
Company.
|
45
|
|
Section
8.07
|
Reinstatement.
|
46
|
ARTICLE 9
AMENDMENT, SUPPLEMENT AND
WAIVER
|
Section
9.01
|
Without Consent
of Holders of Notes.
|
46
|
|
Section
9.02
|
With Consent of
Holders of Notes.
|
47
|
|
Section
9.03
|
Compliance with
Trust Indenture Act.
|
48
|
|
Section
9.04
|
Revocation and
Effect of Consents.
|
48
|
|
Section
9.05
|
Notation on or
Exchange of Notes.
|
48
|
|
Section
9.06
|
Trustee to Sign
Amendments, etc.
|
49
|
ARTICLE 10
SATISFACTION AND
DISCHARGE
|
|
|
Page
|
|
|
|
|
|
Section
10.01
|
Satisfaction
and Discharge.
|
49
|
|
Section
10.02
|
Application of
Trust Money.
|
50
|
ARTICLE 11
MISCELLANEOUS
S
|
ection
11.01
|
Trust Indenture
Act Controls.
|
50
|
|
Section
11.02
|
Notices.
|
50
|
|
Section
11.03
|
Communication
by Holders of Notes with Other Holders of Notes.
|
51
|
|
Section
11.04
|
Certificate and
Opinion as to Conditions Precedent.
|
51
|
|
Section
11.05
|
Statements
Required in Certificate or Opinion.
|
52
|
|
Section
11.06
|
Rules by
Trustee and Agents.
|
52
|
|
Section
11.07
|
No Personal
Liability of Directors, Officers, Employees and
Stockholders.
|
52
|
|
Section
11.08
|
Governing
Law.
|
52
|
|
Section
11.09
|
No Adverse
Interpretation of Other Agreements.
|
53
|
|
Section
11.10
|
Successors.
|
53
|
|
Section
11.11
|
Severability.
|
53
|
|
Section
11.12
|
Counterpart
Originals.
|
53
|
|
Section
11.13
|
Table of
Contents, Headings, etc.
|
53
|
|
Section
11.14
|
Waiver of Jury
Trial
|
53
|
|
Section
11.15
|
Force
Majeure.
|
53
|
EXHIBITS
|
|
FORM OF
CERTIFICATE OF TRANSFER
|
|
|
FORM OF
CERTIFICATE OF EXCHANGE
|
|
|
FORM OF
CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED
INVESTOR
|
INDENTURE dated as of March 3, 2008 between
COMPUTER SCIENCES CORPORATION, a Nevada corporation, and The Bank
of New York Trust Company, N.A., as trustee.
The Company and the Trustee agree as follows for
the benefit of each other and for the equal and ratable benefit of
the Holders (as defined) of the 5.50% Senior Notes
due 2013 (the “ 2013 Notes ”) and
the 6.50% Senior Notes due 2018 (the “
2018 Notes ” and, together with the 2013 Notes, the
“ Notes ”):
ARTICLE
1
DEFINITIONS AND
INCORPORATION
BY REFERENCE
Section
1.01
Definitions.
“144A Global Note”
means a Global Note substantially in
the form of Exhibit A1 hereto, with respect to the 2013 Notes, or
Exhibit A2 hereto, with respect to the 2018 Notes, bearing the
Global Note Legend and the Private Placement Legend and deposited
with or on behalf of, and registered in the name of, the Depositary
or its nominee that will be issued in a denomination equal to the
outstanding principal amount of the 2013 Notes or 2018 Notes, as
applicable, sold in reliance on Rule 144A.
“ Additional 2013 Notes ”
means additional 2013 Notes (other than the Initial 2013 Notes)
issued under this Indenture, in accordance with Section 2.02
hereof, as part of the same series as the Initial 2013
Notes.
“ Additional 2018 Notes ”
means additional 2018 Notes (other than the Initial 2018 Notes)
issued under this Indenture, in accordance with Section 2.02
hereof, as part of the same series as the Initial 2018
Notes.
“Additional
Interest” means all
additional interest then owing pursuant to the Registration Rights
Agreement .
“ Additional Notes ” means
the Additional 2013 Notes and the Additional 2018 Notes.
(1) any Person
directly or indirectly controlling or controlled by or under direct
or indirect common control with the Company or any other obligor
upon the 2013 Notes or 2018 Notes, as applicable;
(2) any spouse,
immediate family member or other relative who has the same
principal resident of any Person described in (1) above;
(3) any trust in which
any such Persons described in (1) or (2) above has a beneficial
interest; and
(4) any corporation or
other organization of which any such Persons described in (1), (2)
or (3) above collectively own more than 50% of the equity of such
entity. For purposes of this definition, beneficial
ownership of 10% of more of the Voting Stock of the Company (on a
fully diluted basis) or warrants to purchase such Voting Stock
(whether or not currently exercisable) of a Person shall be deemed
to be control of such Person. For purposes of this definition, the
terms “ controlling, ” “ controlled
by ” and “ under common control with ”
have correlative meanings.
“Agent” means any Registrar, co-registrar, Paying Agent
or additional paying agent.
“Applicable Procedures”
means, with respect to any transfer
or exchange of or for beneficial interests in any Global Note, the
rules and procedures of the Depositary, Euroclear and Clearstream
that apply to such transfer or exchange.
“Attributable Debt”
means, with respect to any
Sale/Leaseback Transaction, the present value of the minimum rental
payments called for during the term of the lease (including any
period for which such lease has been extended), determined in
accordance with GAAP, discounted at a rate that, at the inception
of the lease, the lessee would have incurred to borrow over a
similar term the funds necessary to purchase the leased
assets.
“Bankruptcy Law”
means Title 11, U.S. Code or any
similar federal or state law for the relief of debtors.
“ Board of Directors ” means
the Board of Directors of the Company or any duly authorized
committee of such Board of Directors.
“Broker-Dealer”
has the meaning set forth in the
Registration Rights Agreement.
“Business Day”
means, any day other than a day on
which Federal of State banking institutions in the Borough of
Manhattan, City of New York, or in the city where the office or
agency for payment of the Notes is maintained is obligated by law,
regulation or executive order to close. If a payment
date is not a Business Day, payment may be made at that place on
the next succeeding Business Day, and no interest shall accrue on
such payment for the intervening period.
“ Capital Lease Obligation ”
means, at the time any determination is to be made, the amount of
the liability in respect of a capital lease that would at that time
be required to be capitalized on a balance sheet prepared in
accordance with GAAP.
“ Capital Stock ” means any
and all shares, interest, participations or other equivalents
(however designated) of corporate stock or partnership
interests.
“Change of Control”
means the occurrence of any of the
following:
(1) the direct or
indirect sale, transfer, conveyance or other disposition (other
than by way of merger or consolidation), in a single transaction or
a series of related transactions, of all or substantially all of
the Company’s assets and the assets of its Subsidiaries,
taken as a whole, to one or more “persons” (as that
term is defined in Section 13(d)(3) of the Exchange Act) (other
than to the Company or one of its Subsidiaries);
(2) the consummation
of any transaction (including, without limitation, any merger or
consolidation) as a result of which any “person” (as
that term is used in Section 13(d) (3) of the Exchange Act) becomes
the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of more than 50% of the
Voting Stock of the Company, measured by voting power rather than
number of shares;
(3) the Company
consolidates with, or merges with or into any Person, or any Person
consolidates with, or merges with or into the Company, in any such
event pursuant to a transaction in which any of the outstanding
Voting Stock of the Company or such other person is converted into
or exchanged for cash, securities or other property, other than any
such transaction where the shares of Voting Stock of the Company
outstanding immediately prior to such transaction constitute, or
are converted into or exchanged for, a majority of the Voting Stock
of the surviving Person immediately after giving effect to such
transaction;
(4) the first day on
which a majority of the members of the Board of Directors of the
Company are not Continuing Directors; or
(5) the adoption of a
plan relating to the liquidation or dissolution of the
Company.
“ Change of Control Triggering
Event ” means the occurrence of both a Change of Control
and a Rating Event.
“Clearstream”
means Clearstream Banking,
S.A.
“ Company” means Computer
Sciences Corporation, and any and all successors
thereto.
“ Comparable Treasury Issue ”
means the United States Treasury security selected by the
Independent Investment Banker as having a maturity comparable to
the remaining term of the 2013 Notes to be redeemed or the 2018
Notes to be redeemed, as applicable, that would be utilized, at the
time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of
comparable maturity to the remaining term of such Notes.
“ Comparable Treasury Price ”
means, with respect to any redemption date:
(1) the average of the
Reference Treasury Dealer Quotations for such redemption date,
after excluding the highest and lowest such Reference Treasury
Dealer Quotations; or
(2) if the Trustee
obtains fewer than four such Reference Treasury Dealer Quotations,
the average of all such Reference Treasury Dealer
Quotations.
“ Consolidated Net Tangible Assets
” means, as of any particular time, the aggregate amount of
the Company’s assets and the assets of the Company’s
Subsidiaries (in each case, less applicable reserves and other
properly deductible items) after deducting from such
amount:
(1) all current
liabilities other than (A) notes and loans payable, (B) current
maturities of long-term debt and (C) current maturities of Capital
Lease Obligations, and
(2) intangible assets,
to the extent included in such aggregate assets, all as set forth
on the Company’s then most recent consolidated balance sheet
and computed in accordance with GAAP.
“Continuing Directors”
means, as of any date of
determination, any member of the Company’s Board of Directors
who (1) was a member of such Board of Directors on the date the
Notes were issued or (2) was nominated for election, elected or
appointed to such Board of Directors with the approval of a
majority of the Continuing Directors who were members of such Board
of Directors at the time of such nomination, election or
appointment (either by a specific vote or by approval of the proxy
statement of the Company in which such member was named as a
nominee for election as a director, without objection to such
nomination).
“ Corporate Trust Office ”
means the principal office of the Trustee at which at any time its
corporate trust business shall be administered, which office at the
dated hereof is located at 700 South Flower Street, Suite 500, Los
Angeles, CA 90017, Attention: Corporate Unit, or such
other address as the Trustee may designate from time to time by
notice to the Holders and the Company, or the principal corporate
trust office of any successor Trustee (or such other address as
such successor Trustee may designate from time to time by notice to
the Holders and the Company).
“Custodian” means the Trustee, as custodian with respect to
the Global Notes, or any successor entity thereto.
“Default” means any event, act or condition that is, or
with the lapse of time or the giving of notice, or both, would
constitute, an Event of Default.
“Definitive Note”
means a certificated Note registered
in the name of the Holder thereof and issued in accordance with
Section 2.06 hereof, substantially in the form of Exhibit A1 or A2
hereto, respectively, except that such Note shall not bear the
Global Note Legend and shall not have the “Schedule of
Exchanges of Interest in the Global Note” attached
thereto.
“Depositary” means, with respect to the Notes issuable or
issued in whole or in part in global form, the Person specified in
Section 2.03 hereof as the Depositary with respect to the Notes,
and any and all successors thereto appointed as depositary
hereunder and having become such pursuant to the applicable
provision of this Indenture.
“Euroclear” means Euroclear Bank, S.A./N.V., as operator of
the Euroclear system.
“ Exchange 2013 Notes ” means
the 2013 Notes issued in the Exchange Offer in accordance with
Section 2.06(f) hereof.
“ Exchange 2018 Notes ” means
the 2018 Notes issued in the Exchange Offer in accordance with
Section 2.06(f) hereof.
“Exchange Act”
means the Securities Exchange Act of
1934, as amended.
“Exchange Notes”
means Exchange 2013 Notes and the
Exchange 2018 Notes.
“Exchange Offer”
has the meaning set forth in the
Registration Rights Agreement.
“Exchange Offer Registration
Statement” has the
meaning set forth in the Registration Rights Agreement.
“ Fitch ” means Fitch Inc., a
subsidiary of Fimalac, S.A., and its successors.
“GAAP” means generally accepted accounting principles
set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public
Accountants and statements and pronouncements of the Financial
Accounting Standards Board or in such other statements by such
other entity as have been approved by a significant segment of the
accounting profession, which are in effect from time to
time.
“Global Note Legend”
means the legend set forth in
Section 2.06(g)(2) hereof, which is required to be placed on all
Global Notes issued under this Indenture.
“Global Notes”
means, individually and
collectively, each of the Restricted Global Notes and the
Unrestricted Global Notes deposited with or on behalf of and
registered in the name of the Depository or its nominee,
substantially in the form of Exhibit A1 or Exhibit A2,
respectively, hereto and that bears the Global Note Legend and that
has the “Schedule of Exchanges of Interests in the Global
Note” attached thereto, issued in accordance with Section
2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f)
hereof.
“Government Securities”
means securities that are (i) direct
obligations of the United States of America for the payment of
which its full faith and credit is pledged or (ii) obligations of a
Person controlled or supervised by and acting as an agency or
instrumentality of the United States of America, the payment of
which is unconditionally guaranteed as a full faith and credit
obligation by the United States of America that, in either case,
are not callable or redeemable at the option of the issuer thereof,
and shall also include a depositary receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act) as custodian with
respect to any such Government Securities or a specific payment of
principal of or interest on any such Government Securities held by
such custodian for the account of the holder of such depositary
receipt; provided, however, that (except as required by law) such
custodian is not authorized to make any deduction from the amount
payable to the holder of such depositary receipt from any amount
received by the custodian in respect of the Government Securities
or the specific payment of principal of or interest on the
Government Securities evidenced by such depositary
receipt.
“Holder” means a Person in whose name a Note is
registered.
“IAI Global Note”
means a Global Note substantially in
the form of each of Exhibit A1 or Exhibit A2, respectively, hereto
bearing the Global Note Legend and the Private Placement Legend and
deposited with or on behalf of and registered in the name of the
Depositary or its nominee that will be issued in a denomination
equal to the outstanding principal amount of 2013 Notes or 2018
Notes, as applicable, sold to Institutional Accredited Investors
.
“Indebtedness”
means, with respect to any Person,
and without duplication:
(1) any liability of
such Person
(a) for borrowed
money; or
(b) for any letter of
credit for the account of such Person supporting obligations of
such Person or other Persons; or
(c) evidenced by a
bond, note, debenture or similar instrument (including a purchase
money obligation) given in connection with the acquisition of any
businesses, properties or assets of any kind (other than a trade
payable or a current liability arising in the ordinary course of
business); or
(d) for the payment of
money relating to a capitalized lease; and
(2) any liability of
others described in the preceding clause (1) that the Person has
guaranteed or that is otherwise its legal liability; and
(3) any amendment,
supplement, modification, deferral, renewal, extension or refunding
of any liability of the types referred to in the clauses (1) and
(2) above.
“Indenture” means this Indenture, as amended or supplemented
from time to time.
“ Independent Investment Banker
” means an independent investment institution of national
standing, which may be one of the Reference Treasury Dealers or
their respective affiliates, selected by the Company.
“Indirect Participant”
means a Person who holds a
beneficial interest in a Global Note through a
Participant.
“ Initial 2013 Notes ” means
the first $700,000,000 aggregate principal amount of 2013 Notes
issued under this Indenture on the date hereof.
“ Initial 2018 Notes ” means
the first $1,000,000,000 aggregate principal amount of 2018 Notes
issued under this Indenture on the date hereof.
“ Initial Notes ” means the
Initial 2013 Notes and the Initial 2018 Notes.
“Initial Purchasers”
means Merrill Lynch, Pierce,
Fenner & Smith Incorporated, Banc of America Securities
LLC, Barclays Capital Inc., Citigroup Global Markets Inc.,
Greenwich Capital Markets, Inc., Mitsubishi UFJ Securities
International plc, Scotia Capital (USA) Inc., UBS Securities LLC,
Wachovia Capital Markets, LLC, BNY Capital Markets, Inc., Goldman,
Sachs & Co., Banca IMI S.p.A, BNP Paribas Securities Corp.,
Daiwa Securities America Inc., Danske Markets Inc., Lloyds TSB Bank
plc, Standard Chartered Bank and Wells Fargo Securities,
LLC.
“Institutional Accredited
Investor” means an
institution that is an “accredited investor” as defined
in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who
are not also QIBs.
“ Investment Grade Rating ”
means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s; BBB– (or the equivalent) by S&P; and BBB-
(or the equivalent) by Fitch, and the equivalent investment grade
credit rating from any additional rating agency or Rating Agencies
selected by the Company.
“Letter of Transmittal”
means the letter of transmittal to
be prepared by the Company and sent to all Holders of the Notes for
use by such Holders in connection with the Exchange
Offer.
“Lien” means any lien, security interest, charge,
mortgage, pledge or other encumbrance of any kind (including any
conditional sale or other title retention agreement, any lease in
the nature thereof, and any agreement to give any security
interest).
“ Moody’s ” means
Moody’s Investors Service, Inc.
“Non-U.S. Person”
means a Person who is not a U.S.
Person.
“Notes” has the meaning assigned to it in the preamble
to this Indenture. The Initial 2013 Notes and the
Additional 2013 Notes shall be treated as a single class for all
purposes under this Indenture and the Initial 2018 Notes and the
Additional 2018 Notes shall be treated as a single class for all
purposes under this Indenture. Unless the context
otherwise requires, all references to Notes shall include the
Initial Notes, the Exchange Notes and any Additional
Notes.
“Obligations”
means any principal, interest,
penalties, fees, indemnifications, reimbursements, damages and
other liabilities payable under the documentation governing any
Indebtedness.
“Officer” means, with respect to any Person, the Chairman
of the Board, the Chief Executive Officer, the President, the Chief
Operating Officer, the Chief Financial Officer, the Treasurer, any
Assistant Treasurer, the Controller, the Secretary or any
Vice-President of such Person.
“Officers’
Certificate” means
a certificate signed on behalf of the Company by two Officers of
the Company that meets the requirements of Section 11.05
hereof.
“Opinion of Counsel”
means a written opinion from legal
counsel who is reasonably acceptable to the Trustee; provided that
any opinion delivered on behalf of the Company shall meet the
requirements of Section 11.05 hereof. The counsel may be
an employee of or counsel to the Company or any Subsidiary of the
Company.
“Participant”
means, with respect to the
Depositary, Euroclear or Clearstream, a Person who has an account
with the Depositary, Euroclear or Clearstream, respectively (and,
with respect to DTC, shall include Euroclear and
Clearstream).
“Person” means any individual, corporation,
partnership, trust, unincorporated organization, limited
liability company or government or other entity.
“Private Placement
Legend” means the
legend set forth in Section 2.06(g)(1) hereof to be placed on all
Notes issued under this Indenture except where otherwise permitted
by the provisions of this Indenture.
“QIB” means a “qualified institutional
buyer” as defined in Rule 144A.
“ Rating Agencies ”
means:
(1) each of
Moody’s, S&P and Fitch; and
(2) if any of
Moody’s, S&P or Fitch ceases to rate the 2013 Notes or
the 2018 Notes or fails to make a rating of such Notes publicly
available for reasons outside of the control of the Company, a
“nationally recognized statistical rating organization”
within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
Act selected by the Company (as certified by a resolution of the
Board of Directors) as a replacement agency for Moody’s,
S&P or Fitch, as the case may be.
(1) with respect to
the 2013 Notes, the rating on the 2013 Notes is lowered by at least
two of the three Rating Agencies and the 2013 Notes are rated below
an Investment Grade Rating by at least two of the three Rating
Agencies; and
(2) with respect to
the 2018 Notes, the rating on the 2018 Notes is lowered by at least
two of the three Rating Agencies and the 2018 Notes are rated below
an Investment Grade Rating by at least two of the three Rating
Agencies;
in either case,
on any day during the period (the period will be extended so long
as the rating of the applicable Notes is under publicly announced
consideration for a possible downgrade by any of the Rating
Agencies) commencing on the earlier of the date of the first public
occurrence of a Change of Control or the date of public notice of
an agreement that, if consummated, would result in a Change of
Control and ending 60 days following consummation of such Change of
Control.
“ Reference Treasury Dealer ”
means each of:
(1) Banc of America
Securities LLC, Barclays Capital Inc. and Merrill Lynch Government
Securities Inc., and their successors; provided, however, that if
any of the foregoing ceases to be a primary U.S. Government
securities dealer in New York City (a “ Primary Treasury
Dealer ”), the Company shall substitute another Primary
Treasury Dealer; and
(2) any other Primary
Treasury Dealers selected by the Company.
“ Reference Treasury Dealer
Quotations ” means, with respect to each Reference
Treasury Dealer at any redemption date, the average, as determined
by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Trustee by such
Reference Treasury Dealer at 3:30 p.m., New York City time, on the
third Business Day preceding such redemption date.
“Registration Rights
Agreement” means
the Registration Rights Agreement, dated as of March 3, 2008,
between the Company and the other parties named on the signature
pages thereof, as such agreement may be amended, modified or
supplemented from time to time.
“Regulation S”
means Regulation S promulgated under
the Securities Act.
“Regulation S Global
Note” means a
permanent Global Note in the form of each of Exhibit A1 and Exhibit
A2, respectively, hereto bearing the Global Note Legend and the
Private Placement Legend and deposited with or on behalf of and
registered in the name of the Depositary or its nominee, issued in
a denomination equal to the outstanding principal amount of 2013
Notes or 2018 Notes sold in reliance on Rule 903 of Regulation
S.
“Responsible Officer,”
when used with respect to the
Trustee, means any officer within the Corporate Trust
Administration of the Trustee (or any successor group of the
Trustee) or any other officer of the Trustee customarily performing
functions similar to those performed by any of the above designated
officers and also means, with respect to a particular corporate
trust matter, any other officer to whom such matter is referred
because of his knowledge of and familiarity with the particular
subject and who shall have responsibility for the administration of
this Indenture.
“Restricted Definitive
Note” means a
Definitive Note bearing the Private Placement Legend.
“Restricted Global Note”
means a Global Note bearing the
Private Placement Legend.
“Restricted Period”
means the period beginning on the
date hereof and ending 40 days thereafter.
“Rule 144” means Rule 144 promulgated under the Securities
Act.
“Rule 144A” means Rule 144A promulgated under the Securities
Act.
“Rule 903” means Rule 903 promulgated under the Securities
Act.
“Rule 904” means Rule 904 promulgated under the Securities
Act.
“ S&P ” means Standard
& Poor’s Rating Services, a division of The McGraw-Hill
Companies, Inc.
“ Sale/Leaseback Transaction
” means any arrangement with any Person (other than the
Company or any of its Subsidiaries) providing for a capitalized
lease by the Company or any of its subsidiaries of any property
which has been or is to be sold or transferred by the Company or
any of its Subsidiaries to such Person or to any Person (other than
the Company or any of its Subsidiaries) by whom funds have been or
are to be advanced on the security of the leased
property.
“SEC” means the Securities and Exchange
Commission.
“Securities Act”
means the Securities Act of 1933, as
amended.
“Shelf Registration
Statement” means
the Shelf Registration Statement as defined in the Registration
Rights Agreement.
“ Stated Maturity ” means,
with respect to any installment of interest or principal on any
series of Indebtedness, the date on which the payment of interest
or principal was scheduled to be paid in the documentation
governing such Indebtedness as of the date of this Indenture, and
will not include any contingent obligations to repay, redeem or
repurchase any such interest or principal prior to the date
originally scheduled for the payment thereof.
“Subsidiary” means, with respect to any specified
Person:
(1) a corporation a
majority of whose Capital Stock with voting power, under ordinary
circumstances, to elect directors is at the time directly or
indirectly owned by the Company or by the Company and a Subsidiary
or Subsidiaries of the Company or by a Subsidiary or Subsidiaries
of the Company; or
(2) any other Person
(other than a corporation) in which the Company or the Company and
a Subsidiary or Subsidiaries of the Company or a Subsidiary or
Subsidiaries of the Company directly or indirectly at the date of
determination thereof has at least a majority ownership
interest.
“TIA” means the Trust Indenture Act of 1939, as
amended (15 U.S.C. §§ 77aaa-77bbbb).
“ Treasury Rate ” means, with
respect to any redemption date, the rate per annum equal to
the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date.
“Trustee” means The Bank of New York Trust Company, N.A.,
until a successor replaces it in accordance with the applicable
provisions of this Indenture and thereafter means the successor
serving hereunder.
“Unrestricted Definitive
Note” means a
Definitive Note that does not bear and is not required to bear the
Private Placement Legend.
“Unrestricted Global
Note” means a
Global Note that does not bear and is not required to bear the
Private Placement Legend.
“U.S. Person”
means a U.S. Person as defined in
Rule 902(k) promulgated under the Securities Act.
“ Voting Stock ” of any
specified Person as of any date means the Capital Stock of such
Person that is at the time entitled to vote generally in the
election of the Board of Directors of such Person.
Section
1.02
Other Definitions.
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Defined in
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Section
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2.02
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“Change of Control
Offer”
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4.09
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“Change of Control
Payment”
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4.09
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“Change of Control Payment
Date”
|
4.09
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|
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8.03
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2.03
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6.01
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8.02
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2.03
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6.01
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3.07
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2.03
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Section
1.03
Incorporation by Reference of
Trust Indenture Act.
Whenever this Indenture refers to a provision of
the TIA, the provision is incorporated by reference in and made a
part of this Indenture.
The following TIA terms used in this Indenture
have the following meanings:
“indenture securities”
means the Notes;
“indenture security
holder” means a
Holder of a Note;
“indenture to be
qualified” means
this Indenture;
“indenture trustee”
or “institutional
trustee” means the Trustee; and
“obligor” on the Notes means the Company and any successor
obligor upon the Notes.
All other terms used in this Indenture that are
defined by the TIA, defined by TIA reference to another statute or
defined by SEC rule under the TIA have the meanings so assigned to
them.
Section
1.04
Rules of
Construction.
Unless the context otherwise
requires:
(1) a term has the
meaning assigned to it;
(2) an accounting term
not otherwise defined has the meaning assigned to it in accordance
with GAAP;
(3) “or”
is not exclusive;
(4) words in the
singular include the plural, and in the plural include the
singular;
(5) “will”
shall be interpreted to express a command;
(6) provisions apply
to successive events and transactions; and
(7) references to
sections of or rules under the Securities Act will be deemed to
include substitute, replacement of successor sections or rules
adopted by the SEC from time to time.
ARTICLE
2
THE NOTES
Section
2.01
Form and Dating.
(a) General
. The Notes and the Trustee’s certificate of
authentication will be substantially in the form of Exhibits A1 and
A2 hereto. The Notes may have notations, legends or
endorsements required by law, stock exchange rule or
usage. Each Note will be dated the date of its
authentication. The Notes shall be in denominations of
$2,000 and integral multiples of $1,000 in excess
thereof.
The terms and provisions contained in the Notes
will constitute, and are hereby expressly made, a part of this
Indenture and the Company and the Trustee, by their execution and
delivery of this Indenture, expressly agree to such terms and
provisions and to be bound thereby. However, to the
extent any provision of any Note conflicts with the express
provisions of this Indenture, the provisions of this Indenture
shall govern and be controlling.
(b) Global
Notes . 2013 Notes issued in global form will be
substantially in the form of Exhibit A1 hereto (including the
Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached
thereto). 2018 Notes issued in global form will be
substantially in the form of Exhibit A2 hereto (including the
Global Note Legend thereon and the “Schedule of Exchanges of
Interests in the Global Note” attached
thereto). 2013 Notes issued in definitive form will be
substantially in the form of Exhibit A1 hereto (but without the
Global Note Legend thereon and without the “Schedule of
Exchanges of Interests in the Global Note” attached
thereto). 2018 Notes issued in definitive form will be
substantially in the form of Exhibit A1 hereto (but without the
Global Note Legend thereon and without the “Schedule of
Exchanges of Interests in the Global Note” attached
thereto). Each Global Note will represent such of the
outstanding Notes as will be specified therein and each shall
provide that it represents the aggregate principal amount of
outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby
may from time to time be reduced or increased, as appropriate, to
reflect exchanges and redemptions. Any endorsement of a
Global Note to reflect the amount of any increase or decrease in
the aggregate principal amount of outstanding Notes represented
thereby will be made by the Trustee or the Custodian, at the
direction of the Trustee, in accordance with instructions given by
the Holder thereof as required by Section 2.06 hereof.
Section
2.02
Execution and
Authentication.
At least one Officer must sign the Notes for the
Company by manual or facsimile signature.
If an Officer whose signature is on a Note no
longer holds that office at the time a Note is authenticated, the
Note will nevertheless be valid.
A Note will not be valid until authenticated by
the manual signature of the Trustee. The signature will
be conclusive evidence that the Note has been authenticated under
this Indenture.
The Trustee will, upon receipt of a written
order of the Company signed by two Officers (an “
Authentication Order ”), authenticate Notes for
original issue that may be validly issued under this Indenture,
including any Additional Notes. The aggregate principal
amount of Notes outstanding at any time may not exceed the
aggregate principal amount of Notes authorized for issuance by the
Company pursuant to one or more Authentication Orders, except as
provided in Section 2.07 hereof.
The Trustee may appoint an authenticating agent
acceptable to the Company to authenticate Notes. An
authenticating agent may authenticate Notes whenever the Trustee
may do so. Each reference in this Indenture to
authentication by the Trustee includes authentication by such
agent. An authenticating agent has the same rights as an Agent to
deal with Holders or an Affiliate of the Company.
Section
2.03
Registrar and Paying
Agent.
The Company will maintain an office or agency
where Notes may be presented for registration of transfer or for
exchange (“ Registrar ”) and an office or agency
where Notes may be presented for payment (“ Paying
Agent ”). The Registrar will keep a register
of the Notes and of their transfer and exchange. The
Company may appoint one or more co-registrars and one or more
additional paying agents. The term
“Registrar” includes any co-registrar and the term
“Paying Agent” includes any additional paying
agent. The Company may change any Paying Agent or
Registrar without notice to any Holder. The Company will
notify the Trustee in writing of the name and address of any Agent
not a party to this Indenture. If the Company fails to
appoint or maintain another entity as Registrar or Paying Agent,
the Trustee shall act as such. The Company or any of its
Subsidiaries may act as Paying Agent or Registrar.
The Company initially appoints The Depository
Trust Company ( “DTC” ) to act as Depositary
with respect to the Global Notes.
The Company initially appoints the Trustee to
act as the Registrar and Paying Agent and to act as Custodian with
respect to the Global Notes.
Section
2.04
Paying Agent to Hold Money in
Trust.
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 Holders or the Trustee all money
held by the Paying Agent for the payment of principal, premium or
Additional Interest, if any, or interest on the Notes, and will
notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee
may require a Paying Agent to pay all money held by it to the
Trustee. The Company at any time may require a Paying
Agent to pay all money held by it to the Trustee. Upon
payment over to the Trustee, the Paying Agent (if other than the
Company or a Subsidiary) will have no further liability for the
money. If the Company or a Subsidiary acts as Paying
Agent, it will segregate and hold in a separate trust fund for the
benefit of the Holders all money held by it as Paying
Agent. Upon any bankruptcy or reorganization proceedings
relating to the Company, the Trustee will serve as Paying Agent for
the Notes.
Section
2.05
Holder Lists.
The Trustee will preserve in as current a form
as is reasonably practicable the most recent list available to it
of the names and addresses of all Holders and shall otherwise
comply with TIA § 312(a). If the Trustee is
not the Registrar, the Company will furnish to the Trustee at least
seven Business Days before each interest payment date and at such
other times as the Trustee may request in writing, a list in such
form and as of such date as the Trustee may reasonably require of
the names and addresses of the Holders of Notes and the Company
shall otherwise comply with TIA § 312(a).
Section
2.06
Transfer and
Exchange.
(a) Transfer and
Exchange of Global Notes . A Global Note may not be
transferred except as a whole by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to
another nominee of the Depositary, or by the Depositary or any such
nominee to a successor Depositary or a nominee of such successor
Depositary. All Global Notes will be exchanged by the
Company for Definitive Notes if:
(1) the Company
delivers to the Trustee notice from the Depositary that it is
unwilling or unable to continue to act as Depositary or that it is
no longer a clearing agency registered under the Exchange Act and,
in either case, a successor Depositary is not appointed by the
Company within 120 days after the date of such notice from the
Depositary;
(2) the Company in its
sole discretion determines that the Global Notes (in whole but not
in part) should be exchanged for Definitive Notes and delivers a
written notice to such effect to the Trustee;
or
(3) there has occurred
and is continuing a Default or Event of Default with respect to the
Notes and the Holder delivers to the Company a request to undertake
such an exchange.
Upon the occurrence of either of the preceding
events in (1) or (2) above, Definitive Notes shall be issued in
such names as the Depositary shall instruct the
Trustee. Global Notes also may be exchanged or replaced,
in whole or in part, as provided in Sections 2.07 and 2.10
hereof. Every Note authenticated and delivered in
exchange for, or in lieu of, a Global Note or any portion thereof,
pursuant to this Section 2.06 or Section 2.07 or 2.10 hereof, shall
be authenticated and delivered in the form of, and shall be, a
Global Note. A Global Note may not be exchanged for
another Note other than as provided in this Section 2.06(a),
however, beneficial interests in a Global Note may be transferred
and exchanged as provided in Section 2.06(b), (c) or (f)
hereof.
(b) Transfer and
Exchange of Beneficial Interests in the Global Notes
. The transfer and exchange of beneficial interests in
the Global Notes will be effected through the Depositary, in
accordance with the provisions of this Indenture and the Applicable
Procedures. Beneficial interests in the Restricted
Global Notes will be subject to restrictions on transfer comparable
to those set forth herein to the extent required by the Securities
Act. Transfers of beneficial interests in the Global
Notes also will require compliance with either subparagraph (1) or
(2) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable:
(1) Transfer of
Beneficial Interests in the Same Global Note
. Beneficial interests in any Restricted Global Note may
be transferred to Persons who take delivery thereof in the form of
a beneficial interest in the same Restricted Global Note in
accordance with the transfer restrictions set forth in the Private
Placement Legend; provided , however, that prior to the
expiration of the Restricted Period, transfers of beneficial
interests in the Regulation S Global Note may not be made to a U.S.
Person or for the account or benefit of a U.S. Person (other than
an Initial Purchaser). Beneficial interests in any Unrestricted
Global Note may be transferred to Persons who take delivery thereof
in the form of a beneficial interest in an Unrestricted Global
Note. No written orders or instructions shall be
required to be delivered to the Registrar to effect the transfers
described in this Section 2.06(b)(1).
(2) All Other
Transfers and Exchanges of Beneficial Interests in Global
Notes. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section
2.06(b)(1) above, the transferor of such beneficial interest must
deliver to the Registrar either:
(i) a written order
from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing
the Depositary to credit or cause to be credited a beneficial
interest in another Global Note in an amount equal to the
beneficial interest to be transferred or exchanged; and
(ii) instructions given
in accordance with the Applicable Procedures containing information
regarding the Participant account to be credited with such
increase; or
(i) a written order
from a Participant or an Indirect Participant given to the
Depositary in accordance with the Applicable Procedures directing
the Depositary to cause to be issued a Definitive Note in an amount
equal to the beneficial interest to be transferred or exchanged;
and
(ii) instructions given
by the Depositary to the Registrar containing information regarding
the Person in whose name such Definitive Note shall be registered
to effect the transfer or exchange referred to in (1)
above.
Upon
consummation of an Exchange Offer by the Company in accordance with
Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2)
shall be deemed to have been satisfied upon receipt by the
Registrar of the instructions contained in the Letter of
Transmittal delivered by the Holder of such beneficial interests in
the Restricted Global Notes. Upon satisfaction of all of
the requirements for transfer or exchange of beneficial interests
in Global Notes contained in this Indenture and the Notes or
otherwise applicable under the Securities Act, the Trustee shall
adjust the principal amount of the relevant Global Note(s) pursuant
to Section 2.06(h) hereof.
(3) Transfer of
Beneficial Interests to Another Restricted Global Note.
A beneficial interest in any Restricted Global Note may
be transferred to a Person who takes delivery thereof in the form
of a beneficial interest in another Restricted Global Note if the
transfer complies with the requirements of Section 2.06(b)(2) above
and the Registrar receives the following:
(A) if the transferee
will take delivery in the form of a beneficial interest in the 144A
Global Note, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (1)
thereof;
(B) if the transferee
will take delivery in the form of a beneficial interest in the
Regulation S Global Note, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and
(C) if the transferee
will take delivery in the form of a beneficial interest in the IAI
Global Note, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof,
if applicable.
(4) Transfer and
Exchange of Beneficial Interests in a Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note.
A beneficial interest in any Restricted Global Note may
be exchanged by any holder thereof for a beneficial interest in an
Unrestricted Global Note or transferred to a Person who takes
delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note if the exchange or transfer complies with
the requirements of Section 2.06(b)(2) above and:
(A) such exchange or
transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the holder of the
beneficial interest to be transferred, in the case of an exchange,
or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (i) a
Broker-Dealer, (ii) a Person participating in the distribution of
the Exchange Notes or (iii) a Person who is an affiliate (as
defined in Rule 144) of the Company;
(B) such transfer is
effected pursuant to the Shelf Registration Statement in accordance
with the Registration Rights Agreement;
(C) such transfer is
effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights
Agreement; or
(D) the Registrar
receives the following:
(i) if the holder of
such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a beneficial interest in an
Unrestricted Global Note, a certificate from such holder in the
form of Exhibit C hereto, including the certifications in item
(1)(a) thereof; or
(ii) if the holder of
such beneficial interest in a Restricted Global Note proposes to
transfer such beneficial interest to a Person who shall take
delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note, a certificate from such holder in the
form of Exhibit B hereto, including the certifications in item (4)
thereof;
and, in each
such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Registrar to the
effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required
in order to maintain compliance with the Securities Act; provided,
however, that no such Opinion of Counsel shall be required for
transfers made pursuant to Rule 144 that are consummated more than
one year following the issuance date of the applicable Notes by the
Company.
If any such transfer is effected pursuant to
subparagraph (B) or (D) above at a time when an Unrestricted Global
Note has not yet been issued, the Company shall issue and, upon
receipt of an Authentication Order in accordance with Section 2.02
hereof, the Trustee shall authenticate one or more Unrestricted
Global Notes in an aggregate principal amount equal to the
aggregate principal amount of beneficial interests transferred
pursuant to subparagraph (B) or (D) above.
Beneficial interests in an Unrestricted Global
Note cannot be exchanged for, or transferred to Persons who take
delivery thereof in the form of, a beneficial interest in a
Restricted Global Note.
(c)
Transfer or Exchange of
Beneficial Interests for Definitive Notes.
(1) Beneficial
Interests in Restricted Global Notes to Restricted Definitive
Notes. If any holder of a beneficial interest in a
Restricted Global Note proposes to exchange such beneficial
interest for a Restricted Definitive Note or to transfer such
beneficial interest to a Person who takes delivery thereof in the
form of a Restricted Definitive Note, then, upon receipt by the
Registrar of the following documentation:
(A) if the holder of
such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for a Restricted Definitive Note,
a certificate from such holder in the form of Exhibit C hereto,
including the certifications in item (2)(a) thereof;
(B) if such beneficial
interest is being transferred to a QIB in accordance with Rule
144A, a certificate to the effect set forth in Exhibit B hereto,
including the certifications in item (1) thereof;
(C) if such beneficial
interest is being transferred to a Non-U.S. Person in an offshore
transaction in accordance with Rule 903 or Rule 904, a certificate
to the effect set forth in Exhibit B hereto, including the
certifications in item (2) thereof;
(D) if such beneficial
interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with
Rule 144, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(a)
thereof;
(E) if such beneficial
interest is being transferred to an Institutional Accredited
Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in
subparagraphs (B) through (D) above, a certificate to the effect
set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3)(d)
thereof, if applicable;
(F) if such beneficial
interest is being transferred to the Company or any of its
Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof;
or
(G) if such beneficial
interest is being transferred pursuant to an effective registration
statement under the Securities Act, a certificate to the effect set
forth in Exhibit B hereto, including the certifications in item
(3)(c) thereof,
the Trustee
shall cause the aggregate principal amount of the applicable Global
Note to be reduced accordingly pursuant to Section 2.06(h) hereof,
and the Company shall execute and the Trustee shall authenticate
and deliver to the Person designated in the instructions a
Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 2.06(c) shall be
registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial
interest shall instruct the Registrar through instructions from the
Depositary and the Participant or Indirect
Participant. The Trustee shall deliver such Definitive
Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a
beneficial interest in a Restricted Global Note pursuant to this
Section 2.06(c)(1) shall bear the Private Placement Legend and
shall be subject to all restrictions on transfer contained
therein.
(2) Beneficial
Interests in Restricted Global Notes to Unrestricted Definitive
Notes. A holder of a beneficial interest in a
Restricted Global Note may exchange such beneficial interest for an
Unrestricted Definitive Note or may transfer such beneficial
interest to a Person who takes delivery thereof in the form of an
Unrestricted Definitive Note only if:
(A) such exchange or
transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the holder of such
beneficial interest, in the case of an exchange, or the transferee,
in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer, (ii) a Person
participating in the distribution of the Exchange Notes or (iii) a
Person who is an affiliate (as defined in Rule 144) of the
Company;
(B) such transfer is
effected pursuant to the Shelf Registration Statement in accordance
with the Registration Rights Agreement;
(C) such transfer is
effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights
Agreement; or
(D) the Registrar
receives the following:
(i) if the holder of
such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for an Unrestricted Definitive
Note, a certificate from such holder in the form of Exhibit C
hereto, including the certifications in item (1)(b) thereof;
or
(ii) if the holder of
such beneficial interest in a Restricted Global Note proposes to
transfer such beneficial interest to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Note, a
certificate from such holder in the form of Exhibit B hereto,
including the certifications in item (4) thereof;
and, in each
such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Registrar to the
effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required
in order to maintain compliance with the Securities Act; provided,
however, that no such Opinion of Counsel shall be required for
transfers made pursuant to Rule 144 that are consummated more than
one year following the issuance date of the applicable Notes by the
Company.
(3) Beneficial
Interests in Unrestricted Global Notes to Unrestricted Definitive
Notes. If any holder of a beneficial interest in an
Unrestricted Global Note proposes to exchange such beneficial
interest for a Definitive Note or to transfer such beneficial
interest to a Person who takes delivery thereof in the form of a
Definitive Note, then, upon satisfaction of the conditions set
forth in Section 2.06(b)(2) hereof, the Trustee will cause the
aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the
Company will execute and the Trustee will authenticate and deliver
to the Person designated in the instructions a Definitive Note in
the appropriate principal amount. Any Definitive Note
issued in exchange for a beneficial interest pursuant to this
Section 2.06(c)(3) will be registered in such name or names and in
such authorized denomination or denominations as the holder of such
beneficial interest requests through instructions to the Registrar
from or through the Depositary and the Participant or Indirect
Participant. The Trustee will deliver such Definitive
Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a
beneficial interest pursuant to this Section 2.06(c)(3) will not
bear the Private Placement Legend.
(d)
Transfer and Exchange of
Definitive Notes for Beneficial Interests.
(1) Restricted
Definitive Notes to Beneficial Interests in Restricted Global
Notes. If any Holder of a Restricted Definitive
Note proposes to exchange such Note for a beneficial interest in a
Restricted Global Note or to transfer such Restricted Definitive
Notes to a Person who takes delivery thereof in the form of a
beneficial interest in a Restricted Global Note, then, upon receipt
by the Registrar of the following documentation:
(A) if the Holder of
such Restricted Definitive Note proposes to exchange such Note for
a beneficial interest in a Restricted Global Note, a certificate
from such Holder in the form of Exhibit C hereto, including the
certifications in item (2)(b) thereof;
(B) if such Restricted
Definitive Note is being transferred to a QIB in accordance with
Rule 144A, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (1)
thereof;
(C) if such Restricted
Definitive Note is being transferred to a Non-U.S. Person in an
offshore transaction in accordance with Rule 903 or Rule 904, a
certificate to the effect set forth in Exhibit B hereto, including
the certifications in item (2) thereof;
(D) if such Restricted
Definitive Note is being transferred pursuant to an exemption from
the registration requirements of the Securities Act in accordance
with Rule 144, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(a)
thereof;
(E) if such Restricted
Definitive Note is being transferred to an Institutional Accredited
Investor in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in
subparagraphs (B) through (D) above, a certificate to the effect
set forth in Exhibit B hereto, including the certifications,
certificates and Opinion of Counsel required by item (3)(d)
thereof, if applicable;
(F) if such Restricted
Definitive Note is being transferred to the Company or any of its
Subsidiaries, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(b) thereof;
or
(G) if such Restricted
Definitive Note is being transferred pursuant to an effective
registration statement under the Securities Act, a certificate to
the effect set forth in Exhibit B hereto, including the
certifications in item (3)(c) thereof,
the Trustee
will cancel the Restricted Definitive Note, increase or cause to be
increased the aggregate principal amount of, in the case of clause
(A) above, the appropriate Restricted Global Note, in the case of
clause (B) above, the 144A Global Note, in the case of clause (C)
above, the Regulation S Global Note, and in all other cases, the
IAI Global Note.
(2) Restricted
Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of a Restricted Definitive Note may
exchange such Note for a beneficial interest in an Unrestricted
Global Note or transfer such Restricted Definitive Note to a Person
who takes delivery thereof in the form of a beneficial interest in
an Unrestricted Global Note only if:
(A) such exchange or
transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the Holder, in the case
of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not
(i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an
affiliate (as defined in Rule 144) of the Company;
(B) such transfer is
effected pursuant to the Shelf Registration Statement in accordance
with the Registration Rights Agreement;
(C) such transfer is
effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights
Agreement; or
(D) the Registrar
receives the following:
(i) if the Holder of
such Definitive Notes proposes to exchange such Notes for a
beneficial interest in the Unrestricted Global Note, a certificate
from such Holder in the form of Exhibit C hereto, including the
certifications in item (1)(c) thereof; or
(ii) if the Holder of
such Definitive Notes proposes to transfer such Notes to a Person
who shall take delivery thereof in the form of a beneficial
interest in the Unrestricted Global Note, a certificate from such
Holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof;
and, in each
such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Registrar to the
effect that such exchange or transfer is in compliance with the
Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required
in order to maintain compliance with the Securities Act.
Upon satisfaction of the conditions of any of
the subparagraphs in this Section 2.06(d)(2), the Trustee will
cancel the Definitive Notes and increase or cause to be increased
the aggregate principal amount of the Unrestricted Global
Note.
(3) Unrestricted
Definitive Notes to Beneficial Interests in Unrestricted Global
Notes. A Holder of an Unrestricted Definitive Note
may exchange such Note for a beneficial interest in an Unrestricted
Global Note or transfer such Definitive Notes to a Person who takes
delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note at any time. Upon receipt of a
request for such an exchange or transfer, the Trustee will cancel
the applicable Unrestricted Definitive Note and increase or cause
to be increased the aggregate principal amount of one of the
Unrestricted Global Notes.
If any such exchange or transfer from a
Definitive Note to a beneficial interest is effected pursuant to
subparagraphs (2)(B), (2)(D) or (3) above at a time when an
Unrestricted Global Note has not yet been issued, the Company will
issue and, upon receipt of an Authentication Order in accordance
with Section 2.02 hereof, the Trustee will authenticate one or more
Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of Definitive Notes so transferred.
(e) Transfer and
Exchange of Definitive Notes for Definitive Notes.
Upon request by a Holder of Definitive Notes and such
Holder’s compliance with the provisions of this Section
2.06(e), the Registrar will register the transfer or exchange of
Definitive Notes. Prior to such registration of transfer
or exchange, the requesting Holder must present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a
written instruction of transfer in form satisfactory to the
Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, the requesting
Holder must provide any additional certifications, documents and
information, as applicable, required pursuant to the following
provisions of this Section 2.06(e).
(1) Restricted
Definitive Notes to Restricted Definitive Notes.
Any Restricted Definitive Note may be transferred to
and registered in the name of Persons who take delivery thereof in
the form of a Restricted Definitive Note if the Registrar receives
the following:
(A) if the transfer
will be made pursuant to Rule 144A, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including
the certifications in item (1) thereof;
(B) if the transfer
will be made pursuant to Rule 903 or Rule 904, then the transferor
must deliver a certificate in the form of Exhibit B hereto,
including the certifications in item (2) thereof; and
(C) if the transfer
will be made pursuant to any other exemption from the registration
requirements of the Securities Act, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by
item (3) thereof, if applicable.
(2) Restricted
Definitive Notes to Unrestricted Definitive Notes.
Any Restricted Definitive Note may be exchanged by the
Holder thereof for an Unrestricted Definitive Note or transferred
to a Person or Persons who take delivery thereof in the form of an
Unrestricted Definitive Note if:
(A) such exchange or
transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and the Holder, in the case
of an exchange, or the transferee, in the case of a transfer,
certifies in the applicable Letter of Transmittal that it is not
(i) a Broker-Dealer, (ii) a Person participating in the
distribution of the Exchange Notes or (iii) a Person who is an
affiliate (as defined in Rule 144) of the Company;
(B) any such transfer
is effected pursuant to the Shelf Registration Statement in
accordance with the Registration Rights Agreement;
(C) any such transfer
is effected by a Broker-Dealer pursuant to the Exchange Offer
Registration Statement in accordance with the Registration Rights
Agreement; or
(D) the Registrar
receives the following:
(i) if the Holder of
such Restricted Definitive Notes proposes to exchange such Notes
for an Unrestricted Definitive Note, a certificate from such Holder
in the form of Exhibit C hereto, including the certifications in
item (1)(d) thereof; or
(ii) if the Holder of
such Restricted Definitive Notes proposes to transfer such Notes to
a Person who shall take delivery thereof in the form of an
Unrestricted Definitive Note, a certificate from such Holder in the
form of Exhibit B hereto, including the certifications in item (4)
thereof;
and, in each
such case set forth in this subparagraph (D), if the Registrar so
requests, an Opinion of Counsel in form reasonably acceptable to
the Registrar to the effect that such exchange or transfer is in
compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are
no longer required in order to maintain compliance with the
Securities Act; provided, however, that no such Opinion of Counsel
shall be required for transfers made pursuant to Rule 144 that are
consummated more than one year following the issuance date of the
applicable Notes by the Company.
(3) Unrestricted
Definitive Notes to Unrestricted Definitive Notes.
A Holder of Unrestricted Definitive Notes may transfer
such Notes to a Person who takes delivery thereof in the form of an
Unrestricted Definitive Note. Upon receipt of a request
to register such a transfer, the Registrar shall register the
Unrestricted Definitive Notes pursuant to the instructions from the
Holder thereof.
(f) Exchange
Offer. Upon the occurrence of the Exchange Offer in
accordance with the Registration Rights Agreement, the Company will
issue and, upon receipt of an Authentication Order in accordance
with Section 2.02 hereof, the Trustee will authenticate:
(1) one or more
Unrestricted Global Notes in an aggregate principal amount equal to
the principal amount of the beneficial interests in the Restricted
Global Notes accepted for exchange in the Exchange Offer by Persons
that certify in the applicable Letters of Transmittal that (A) they
are not Broker-Dealers, (B) they are not participating in a
distribution of the Exchange Notes and (C) they are not affiliates
(as defined in Rule 144) of the Company; and
(2) Unrestricted
Definitive Notes in an aggregate principal amount equal to the
principal amount of the Restricted Definitive Notes accepted for
exchange in the Exchange Offer by Persons that certify in the
applicable Letters of Transmittal that (A) they are not
Broker-Dealers, (B) they are not participating in a distribution of
the Exchange Notes and (C) they are not affiliates (as defined in
Rule 144) of the Company.
Concurrently with the issuance of such Notes,
the Trustee will cause the aggregate principal amount of the
applicable Restricted Global Notes to be reduced accordingly, and
the Company will execute and the Trustee will authenticate and
deliver to the Persons designated by the Holders of Definitive
Notes so accepted Unrestricted Definitive Notes in the appropriate
principal amount.
(g) Legends.
The following legends will appear on the face of all
Global Notes and Definitive Notes issued under this Indenture
unless specifically stated otherwise in the applicable provisions
of this Indenture.
(1) Private
Placement Legend .
(A) Except as
permitted by subparagraph (B) below, each Global Note and each
Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the
following form:
“THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”). THE HOLDER HEREOF, BY PURCHASING THIS
SECURITY, AGREES FOR THE BENEFIT OF COMPUTER SCIENCES CORPORATION,
THAT THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE
TRANSFERRED OTHER THAN (1) TO COMPUTER SCIENCES CORPORATION,
(2) SO LONG AS THIS SECURITY IS ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A
PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED
INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A, PURCHASING FOR
ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHOM NOTICE IS GIVEN THAT THE RESALE, PLEDGE OR OTHER
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) IN AN OFFSHORE
TRANSACTION (AS DEFINED UNDER REGULATION S UNDER THE SECURITIES
ACT) IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (4)
PURSUANT TO ANY EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT PROVIDED BY RULE 144 (IF APPLICABLE) UNDER THE SECURITIES ACT,
(5) TO AN INSTITUTIONAL ACCREDITED INVESTOR THAT, PRIOR TO SUCH
TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER CONTAINING
CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE REGISTRATION
AND TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED
FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN
AGGREGATE PRINCIPAL AMOUNT OF NOTES AT THE TIME OF TRANSFER OF LESS
THAT $250,000, AND OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY
THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, OR (6)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES. THE
HOLDER HEREOF, BY PURCHASING THIS SECURITY, REPRESENTS AND AGREES
FOR THE BENEFIT OF COMPUTER SCIENCES CORPORATION. THAT
IT IS (1) A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF
RULE 144A OR (2) NOT A U.S. PERSON AND IS OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF (OR AN ACCOUNT SATISFYING THE
REQUIREMENTS OF PARAGRAPH (k)(2)(i) OF RULE 902 UNDER) REGULATION S
UNDER THE SECURITIES ACT.”
(B) Notwithstanding
the foregoing, any Global Note or Definitive Note issued pursuant
to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2),
(e)(3) or (f) of this Section 2.06 (and all Notes issued in
exchange therefor or substitution thereof) will not bear the
Private Placement Legend.
(2) Global Note
Legend . Each Global Note will bear a legend in
substantially the following form:
“THIS
GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF
THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON
UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE
INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT
IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS
GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE
MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN
CONSENT OF COMPUTER SCIENCES CORPORATION.
UNLESS AND
UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE
FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE
DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY
OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY
OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK)
(“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY
BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE
& CO., HAS AN INTEREST HEREIN.”
(h) Cancellation
and/or Adjustment of Global Notes. At such time as
all beneficial interests in a particular Global Note have been
exchanged for Definitive Notes or a particular Global Note has been
redeemed, repurchased or canceled in whole and not in part, each
such Global Note will be returned to or retained and canceled by
the Trustee in accordance with Section 2.11 hereof. At
any time prior to such cancellation, if any beneficial interest in
a Global Note is exchanged for or transferred to a Person who will
take delivery thereof in the form of a beneficial interest in
another Global Note or for Definitive Notes, the principal amount
of Notes represented by such Global Note will be reduced
accordingly and an endorsement will be made on such Global Note by
the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being
exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global
Note, such other Global Note will be increased accordingly and an
endorsement will be made on such Global Note by the Trustee or by
the Depositary at the direction of the Trustee to reflect such
increase.
(i)
General Provisions Relating to
Transfers and Exchanges.
(1) To permit
registrations of transfers and exchanges, the Company will execute
and the Trustee will authenticate Global Notes and Definitive Notes
upon receipt of an Authentication Order in accordance with Section
2.02 hereof or at the Registrar’s request.
(2) No service charge
will be made to a Holder of a beneficial interest in a Global Note
or to a Holder of a Definitive Note for any registration of
transfer or exchange, 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 any such transfer taxes
or similar governmental charge payable upon exchange or transfer
pursuant to Sections 2.10, 3.06 and 9.05 hereof).
(3) The Registrar will
not be required to register the transfer of or exchange of any Note
selected for redemption in whole or in part, except the unredeemed
portion of any Note being redeemed in part.
(4) All Global Notes
and Definitive Notes issued upon any registration of transfer or
exchange of Global Notes or Definitive Notes will be the valid
obligations of the Company, evidencing the same debt, and entitled
to the same benefits under this Indenture, as the Global Notes or
Definitive Notes surrendered upon such registration of transfer or
exchange.
(5) Neither the
Registrar nor the Company will be required:
(A) to issue, to
register the transfer of or to exchange any Notes during a period
beginning at the opening of business 15 days before the day of any
selection of Notes for redemption under Section 3.02 hereof and
ending at the close of business on the day of selection;
(B) to register the
transfer of or to exchange any Note selected for redemption in
whole or in part, except the unredeemed portion of any Note being
redeemed in part; or
(C) to register the
transfer of or to exchange a Note between a record date and the
next succeeding interest payment date.
(6) Prior to due
presentment for the registration of a transfer of any Note, the
Trustee, any Agent and the Company may deem and treat the Person in
whose name any Note is registered as the absolute owner of such
Note for the purpose of receiving payment of principal of and
interest on such Notes and for all other purposes, and none of the
Trustee, any Agent or the Company shall be affected by notice to
the contrary.
(7) The Trustee will
authenticate Global Notes and Definitive Notes in accordance with
the provisions of Section 2.02 hereof.
(8) All
certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section 2.06 to effect
a registration of transfer or exchange may be submitted by
facsimile.
Section
2.07
Replacement Notes.
If any mutilated Note is surrendered to the
Trustee or the Company and the Trustee receives evidence to its
satisfaction of the destruction, loss or theft of any Note, the
Company will issue and the Trustee, upon receipt of an
Authentication Order, will authenticate a replacement Note if the
Trustee’s requirements are met. If required by the
Trustee or the Company, an indemnity bond must be supplied by the
Holder that is sufficient in the judgment of the Trustee and the
Company to protect the Company, the Trustee, any Agent and any
authenticating agent from any loss that any of them may suffer if a
Note is replaced. The Company may charge for its
expenses in replacing a Note.
Every replacement Note is an additional
obligation of the Company and will be entitled to all of the
benefits of this Indenture equally and proportionately with all
other Notes duly issued hereunder.
Section
2.08
Outstanding Notes.
The Notes outstanding at any time are all the
Notes authenticated by the Trustee except for those canceled by it,
those delivered to it for cancellation, those reductions in the
interest in a Global Note effected by the Trustee in accordance
with the provisions hereof, and those described in this Section
2.08 as not outstanding. Except as set forth in Section
2.09 hereof, a Note does not cease to be outstanding because the
Company or an Affiliate of the Company holds the Note.
If a Note is replaced pursuant to Section 2.07
hereof, it ceases to be outstanding unless the Trustee receives
proof satisfactory to it that the replaced Note is held by a
protected purchaser.
If the principal amount of any Note is
considered paid under Section 4.01 hereof, it ceases to be
outstanding and interest on it ceases to accrue.
If the Paying Agent (other than the Company, a
Subsidiary or an Affiliate of any thereof) holds, on a redemption
date or maturity date, money sufficient to pay Notes payable on
that date, then on and after that date such Notes will be deemed to
be no longer outstanding and will cease to accrue
interest.
Section
2.09
Treasury Notes.
In determining whether the Holders of the
required principal amount of Notes have concurred in any direction,
waiver or consent, Notes owned by the Company, or by any Person
directly or indirectly controlling or controlled by or under direct
or indirect common control with the Company, will be considered as
though not outstanding, except that for the purposes of determining
whether the Trustee will be protected in relying on any such
direction, waiver or consent, only Notes that the Trustee knows are
so owned will be so disregarded.
Section
2.10
Temporary Notes.
Until certificates representing Notes are ready
for delivery, the Company may prepare and the Trustee, upon receipt
of an Authentication Order, will authenticate temporary
Notes. Temporary Notes will be substantially in the form
of certificated Notes but may have variations that the Company
considers appropriate for temporary Notes and as may be reasonably
acceptable to the Trustee. Without unreasonable delay,
the Company will prepare and the Trustee will authenticate
definitive Notes in exchange for temporary Notes.
Holders of temporary Notes will be entitled to
all of the benefits of this Indenture.
Section
2.11
Cancellation.
The Company at any time may deliver Notes to the
Trustee for cancellation. The Registrar and Paying Agent
will forward to the Trustee any Notes surrendered to them for
registration of transfer, exchange or payment. The
Trustee and no one else will cancel all Notes surrendered for
registration of transfer, exchange, payment, replacement or
cancellation and will dispose of canceled Notes in its customary
manner (subject to the record retention requirement of the Exchange
Act). Certification of the disposal of all canceled
Notes will be delivered to the Company upon its request
therefor. The Company may not issue new Notes to replace
Notes that it has paid or that have been delivered to the Trustee
for cancellation.
Section
2.12
Defaulted
Interest.
If the Company defaults in a payment of interest
on the Notes, it will pay the defaulted interest in any lawful
manner plus, to the extent lawful, interest payable on the
defaulted interest, to the Persons who are Holders on a subsequent
special record date, in each case at the rate provided in the Notes
and in Section 4.01 hereof. The Company will notify the
Trustee in writing of the amount of defaulted interest proposed to
be paid on each Note and the date of the proposed
payment. The Company will fix or cause to be fixed each
such special record date and payment date; provided that no such
special record date may be less than 10 days prior to the related
payment date for such defaulted interest. At least 15
days before the special record date, the Company (or, upon the
written request of the Company, the Trustee in the name and at the
expense of the Company) will mail or cause to be mailed to Holders
a notice that states the special record date, the related payment
date and the amount of such interest to be paid.
Section
2.13
CUSIP Numbers.
The Company in issuing the Notes of a series may
use “CUSIP” numbers (if then generally in use),
and, if so, the Trustee shall use “CUSIP”
numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is
made as to the correctness of such numbers either as printed on the
Notes or as contained in any notice of a redemption and that
reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption shall not be affected
by any defect in or omission of such numbers. The Company will
promptly notify the Trustee of any change in the
“CUSIP” numbers.
ARTICLE
3
REDEMPTION AND PREPAYMENT
Section
3.01
Notices to
Trustee.
If the Company elects to redeem Notes pursuant
to the optional redemption provisions of Section 3.07 hereof, it
must furnish to the Trustee, at least 30 days but not more than 60
days before a redemption date, an Officers’ Certificate
setting forth:
(1) the clause of this
Indenture pursuant to which the redemption shall occur;
(3) the principal
amount of Notes to be redeemed; and
(4) the redemption
price.
Section
3.02
Selection of Notes to Be Redeemed
or Purchased.
If less than all of the Notes are to be redeemed
or purchased in an offer to purchase at any time, the Trustee will
select Notes for redemption or purchase on a pro rata basis
unless otherwise required by law or applicable stock exchange
requirements.
In the event of partial redemption or purchase
by lot, the particular Notes to be redeemed or purchased will be
selected, unless otherwise provided herein, not less than 30 nor
more than 90 days prior to the redemption or purchase date by the
Trustee from the outstanding Notes not previously called for
redemption or purchase.
The Trustee will promptly notify the Company in
writing of the Notes selected for redemption or purchase and, in
the case of any Note selected for partial redemption or purchase,
the principal amount thereof to be redeemed or
purchased. Notes and portions of Notes selected will be
in amounts of $2,000 or whole multiples of $1,000 in excess
thereof; except that if all of the Notes of a Holder are to be
redeemed or purchased, the entire outstanding amount of Notes held
by such Holder, even if not a multiple of $1,000, shall be redeemed
or purchased. Except as provided in the preceding
sentence, provisions of this Indenture that apply to Notes called
for redemption or purchase also apply to portions of Notes called
for redemption or purchase.
Section
3.03
Notice of
Redemption.
At least 30 days but not more than 60 days
before a redemption date, the Company will mail or cause the
Trustee to mail, by first class mail, a notice of redemption to
each Holder whose Notes are to be redeemed at its registered
address, except that redemption notices may be mailed more than 60
days prior to a redemption date if the notice is issued in
connection with a defeasance of the Notes or a satisfaction and
discharge of this Indenture pursuant to Articles 8 or 10
hereof.
The notice will identify the Notes to be
redeemed and will state:
(2) the redemption
price;
(3) if any Note is
being redeemed in part, the portion of the principal amount of such
Note to be redeemed and that, after the redemption date upon
surrender of such Note, a new Note or Notes in principal amount
equal to the unredeemed portion will be issued upon cancellation of
the original Note;
(4) the name and
address of the Paying Agent;
(5) that Notes called
for redemption must be surrendered to the Paying Agent to collect
the redemption price;
(6) that, unless the
Company defaults in making such redemption payment, interest on
Notes called for redemption ceases to accrue on and after the
redemption date;
(7) the paragraph of
the Notes and/or Section of this Indenture pursuant to which the
Notes called for redemption are being redeemed; and
(8) that no
representation is made as to the correctness or accuracy of the
CUSIP number, if any, listed in such notice or printed on the
Notes.
Any notice that is mailed in the manner herein
provided shall be conclusively presumed to have been duly given,
whether or not the registered holder receives the
notice. In any case, failure duly to give such notice to
the Holder of any Notes designated for redemption in whole or in
part, or any defect in the notice, shall not affect the validity of
the proceedings for the redemption of any other Notes of such
series or any other series. At the Company’s
request, the Trustee will give the notice of redemption in the
Company’s name and at its expense; provided , however,
that the Company has delivered to the Trustee, at least 15 days
prior to the proposed publication date of the notice, an
Officers’ Certificate requesting that the Trustee give such
notice and setting forth the information to be stated in such
notice as provided in the preceding paragraph.
Section
3.04
Effect of Notice of
Redemption.
Once notice of redemption is mailed in
accordance with Section 3.03 hereof, Notes called for redemption
become irrevocably due and payable on the redemption date at the
redemption price. A notice of redemption may not be
conditional.
Section
3.05
Deposit of Redemption or Purchase
Price.
At least one Business Day prior to the
redemption or purchase date, the Company will deposit with the
Trustee or with the Paying Agent money sufficient to pay the
redemption or purchase price of and accrued interest and Additional
Interest, if any, on all Notes to be redeemed or purchased on that
date. The Trustee or the Paying Agent will promptly
return to the Company any money deposited with the Trustee or the
Paying Agent by the Company in excess of the amounts necessary to
pay the redemption or purchase price of, and accrued interest and
Additional Interest, if any, on, all Notes to be redeemed or
purchased.
If the Company complies with the provisions of
the preceding paragraph, on and after the redemption or purchase
date, interest will cease to accrue on the Notes or the portions of
Notes called for redemption or purchase. If a Note is
redeemed or purchased on or after an interest record date but on or
prior to the related interest payment date, then any accrued and
unpaid interest shall be paid to the Person in whose name such Note
was registered at the close of business on such record
date. If any Note called for redemption or purchase is
not so paid upon surrender for redemption or purchase because of
the failure of the Company to comply with the preceding paragraph,
interest shall be paid on the unpaid principal, from the redemption
or purchase date until such principal is paid, and to the extent
lawful on any interest not paid on such unpaid principal, in each
case at the rate provided in the Notes and in Section 4.01
hereof.
Section
3.06
Notes Redeemed or Purchased in
Part.
Upon surrender of a Note that is redeemed or
purchased in part, the Company will issue and, upon receipt of an
Authentication Order, the Trustee will authenticate for the Holder
at the expense of the Company a new Note equal in principal amount
to the unredeemed or unpurchased portion of the Note
surrendered.
Section
3.07
Optional
Redemption.
(a) The 2013 and the
2018 Notes will be redeemable as a whole or in part, at the
Company’s option, at any time, from time to time, at a
redemption price equal to the greater of:
(1) 100% of the
principal amount of the 2013 Notes or the 2018 Notes, as
applicable; and
(2) as determined by
the Independent Investment Banker, the sum of the present values of
the remaining scheduled payments of principal and interest thereon
(not including any portion of such interest payments accrued as of
the redemption date), discounted to the redemption date on a
semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the Treasury Rate plus (A) 0.50%, with respect to
the 2013 Notes, or (B) 0.50%, with respect to the 2018
Notes.
Section
3.08
Mandatory
Redemption.
The Company is not required to make mandatory
redemption or sinking fund payments with respect to the
Notes.
ARTICLE
4
COVENANTS
Section
4.01
Payment of Notes.
The Company will pay or cause to be paid the
principal of, premium, if any, and interest and Additional
Interest, if any, on, the Notes on the dates and in the manner
provided in the Notes. Principal, premium, if any,
and