Exhibit 4.2
STANDARD PACIFIC
CORP.
$280,000,000 10.75% Senior Notes
due 2016
EXCHANGE AND REGISTRATION RIGHTS
AGREEMENT
October 8, 2009
Citigroup Global Markets
Inc.
Banc of America Securities LLC
Credit Suisse Securities (USA) LLC
Deutsche Bank Securities Inc.
As Initial Purchasers
c/o Citigroup Global Markets Inc.
388 Greenwich Street
New York, New York 10013
Ladies and Gentlemen:
On September 17, 2009, Standard
Pacific Escrow LLC, a limited liability company organized under the
laws of Delaware (“Escrow LLC”), issued and sold to
Citigroup Global Markets Inc., Banc of America Securities LLC,
Credit Suisse Securities (USA) LLC and Deutsche Bank Securities
Inc. (collectively, the “Initial Purchasers”)
$280,000,000 in aggregate principal amount of its 10.75% Senior
Notes due 2016 (the “Securities”), upon the terms set
forth in the Purchase Agreement between Escrow LLC and the Initial
Purchasers, dated September 10, 2009 (the “Purchase
Agreement”), relating to the initial placement (the
“Initial Placement”) of the Securities. Concurrently
with the execution of this Agreement, Standard Pacific Corp., a
corporation organized under the laws of Delaware (the
“Company”) is assuming, as primary obligor, the
obligations of Escrow LLC under the Securities and the Indenture
(as defined below) pursuant to the First Supplemental Indenture,
dated the date hereof, between Escrow LLC, the Company, the
Guarantors (as defined below) and the Trustee (as defined below)
and the Guarantors are guaranteeing the obligations of the Company
under the Securities and the Indenture. The Company and the
Guarantors hereby agree with you for your benefit and the benefit
of the holders from time to time of the Securities (including the
Initial Purchasers) (each a “Holder” and, collectively,
the “Holders”), as follows:
1. Definitions . Capitalized
terms used herein without definition shall have their respective
meanings set forth in the Purchase Agreement. As used in this
Agreement, the following capitalized defined terms shall have the
following meanings:
“Act” shall mean the
Securities Act of 1933, as amended, and the rules and regulations
of the Commission promulgated thereunder.
“Additional Guarantor”
shall mean any subsidiary of the Company that executes a Guarantee
after the date of this Agreement.
“Additional Interest”
shall have the meaning indicated in Section 8
hereof.
“Affiliate” shall have
the meaning specified in Rule 405 under the Act and the terms
“controlling” and “controlled” shall have
meanings correlative thereto.
“Broker-Dealer” shall
mean any broker or dealer registered as such under the Exchange
Act.
“Business Day” shall
mean any day other than a Saturday, a Sunday or a legal holiday or
a day on which banking institutions or trust companies are
authorized or obligated by law to close in New York
City.
“Commission” shall mean
the Securities and Exchange Commission.
“Deferral Period” shall
have the meaning indicated in Section 4(k)(ii)
hereof.
“Exchange Act” shall
mean the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission promulgated
thereunder.
“Exchange Offer Registration
Period” shall mean the earlier of (i) 180 days following
the date of effectiveness of the Exchange Offer Registration
Statement, exclusive of any period during which any stop order
shall be in effect suspending the effectiveness of the Exchange
Offer Registration Statement, and (ii) the date on which all
Exchanging Dealers have sold all New Securities received by them in
the Registered Exchange Offer.
“Exchange Offer Registration
Statement” shall mean a registration statement of the Company
and the Guarantors on an appropriate form under the Act with
respect to the Registered Exchange Offer, all amendments and
supplements to such registration statement, including
post-effective amendments thereto, in each case including the
Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein.
“Exchanging Dealer”
shall mean any Holder (which may include any Initial Purchaser)
that is a Broker-Dealer and elects to exchange for New Securities
any Securities that it acquired for its own account as a result of
market-making activities or other trading activities (but not
directly from the Company or any Affiliate of the Company) for New
Securities.
“Filing Date” shall have
the meaning indicated in Section 2(a).
“Final Memorandum” shall
mean the offering memorandum, dated September 10, 2009,
relating to the Securities, including any and all exhibits thereto
and any information incorporated by reference therein as of such
date.
“FINRA Rules” shall mean
the Conduct Rules and the By-Laws of the Financial Industry
Regulatory Authority, Inc.
“Guarantees” shall mean
the guarantees of the Securities and the New Securities by the
Guarantors.
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“Guarantors” shall mean
the guarantors listed in Schedule 1 hereto and any Additional
Guarantors.
“Holder” shall have the
meaning set forth in the preamble hereto.
“Indenture” shall mean
the Indenture relating to the Securities, dated as of
September 17, 2009, between Escrow LLC and The Bank of New
York Mellon Trust Company, N.A., as trustee, as supplemented by the
First Supplemental Indenture, dated as of the date hereof, among
the Company, the Guarantors and The Bank of New York Mellon Trust
Company, N.A., as trustee, as the same may be amended from time to
time in accordance with the terms thereof.
“Initial Placement”
shall have the meaning set forth in the preamble hereto.
“Initial Purchasers”
shall have the meaning set forth in the preamble hereto.
“Inspectors” shall have
the meaning set forth in Section 4(q) hereof.
“Losses” shall have the
meaning set forth in Section 6(d) hereof.
“Majority Holders” shall
mean, on any date, Holders of a majority of the aggregate principal
amount of Securities registered under a Registration
Statement.
“Managing Underwriters”
shall mean the investment banker or investment bankers and manager
or managers that administer an underwritten offering, if any, under
a Registration Statement.
“New Securities” shall
mean debt securities of the Company, guaranteed by the Guarantors
and containing terms identical in all material respects to the
Securities (except that the provisions relating to Additional
Interest and transfer restrictions shall be modified or eliminated,
as appropriate) to be issued under the Indenture.
“Participant” shall have
the meaning set forth in Section 6(a) hereof.
“Prospectus” shall mean
the prospectus included in any Registration Statement (including,
without limitation, a prospectus that discloses information
previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A under the Act),
as amended or supplemented by any prospectus supplement, with
respect to the terms of the offering of any portion of the
Securities or the New Securities covered by such Registration
Statement, and all amendments and supplements thereto, including
any and all exhibits thereto and any information incorporated by
reference therein.
“Purchase Agreement”
shall have the meaning set forth in the preamble hereto.
“Refinancing Completion
Date” shall mean October 8, 2009.
“Registered Exchange
Offer” shall mean the proposed offer of the Company and the
Guarantors to issue and deliver to the Holders of the Securities
that are not prohibited by any law or policy of the Commission from
participating in such offer, in exchange for the Securities, a like
aggregate principal amount of the New Securities.
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“Registrable Securities”
shall mean (i) Securities other than those (A) that have
been registered under a Registration Statement and disposed of in
accordance therewith or (B) that have been or are eligible to
be distributed to the public pursuant to Rule 144 under the Act or
any successor rule or regulation thereto that may be adopted by the
Commission and (ii) any New Securities resale of which by the
Holder thereof requires compliance with the prospectus delivery
requirements of the Act.
“Registration Default”
shall have the meaning set forth in Section 8
hereof.
“Registration Statement”
shall mean any Exchange Offer Registration Statement or Shelf
Registration Statement that covers any of the Securities or the New
Securities pursuant to the provisions of this Agreement, any
amendments and supplements to such registration statement,
including post-effective amendments (in each case including the
Prospectus contained therein), all exhibits thereto and all
material incorporated by reference therein.
“Securities” shall have
the meaning set forth in the preamble hereto.
“Shelf Registration”
shall mean a registration effected pursuant to Section 3
hereof.
“Shelf Registration
Period” has the meaning set forth in Section 3(b)
hereof.
“Shelf Registration
Statement” shall mean a “shelf” registration
statement of the Company and the Guarantors pursuant to the
provisions of Section 3 hereof, which covers some or all of
the Securities or New Securities, as applicable, on an appropriate
form under Rule 415 under the Act, or any similar rule that
may be adopted by the Commission, amendments and supplements to
such registration statement, including post-effective amendments,
in each case including the Prospectus contained therein, all
exhibits thereto and all material incorporated by reference
therein.
“Trustee” shall mean the
trustee with respect to the Securities under the
Indenture.
“Trust Indenture Act”
shall mean the Trust Indenture Act of 1939, as amended, and the
rules and regulations of the Commission promulgated
thereunder.
“underwriter” shall mean
any underwriter of Securities in connection with an offering
thereof under a Shelf Registration Statement.
2. Registered Exchange Offer
. (a) Subject to Section 3 hereof, the Company and the
Guarantors shall (i) prepare and, not later than 90 days
following the Refinancing Completion Date (the date of such filing
being referred to as the “Filing Date”), file with the
Commission the Exchange Offer Registration Statement with respect
to the Registered Exchange Offer and (ii) use commercially
reasonable efforts to cause the Exchange Offer Registration
Statement to become effective under the Act not later than 90 days
of the Filing Date.
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(b) Upon the effectiveness of the
Exchange Offer Registration Statement, the Company and the
Guarantors shall promptly commence the Registered Exchange Offer,
it being the objective of such Registered Exchange Offer to enable
each Holder electing to exchange Securities for New Securities
(assuming that such Holder is not an Affiliate of the Company,
acquires the New Securities in the ordinary course of such
Holder’s business, has no arrangements or understandings with
any person to participate, and is not participating, in the
distribution of the New Securities, is not holding Securities that
have, or that are reasonably likely to have, the status of an
unsold allotment in the Initial Placement and is not prohibited by
any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such New Securities from and
after their receipt without any limitations or restrictions under
Section 5 of the Act and without material restrictions under
the securities laws of a substantial proportion of the several
states of the United States.
(c) In connection with the
Registered Exchange Offer, the Company and the Guarantors
shall:
(i) mail to each Holder a copy of
the Prospectus forming part of the Exchange Offer Registration
Statement, together with an appropriate letter of transmittal and
related documents;
(ii) keep the Registered Exchange
Offer open for not less than 20 Business Days and not more than 30
Business Days from and including the date the Prospectus is mailed
to the Holders (or, in each case, longer if required by applicable
law);
(iii) use commercially reasonable
efforts to keep the Exchange Offer Registration Statement
continuously effective under the Act, supplemented and amended as
required, under the Act to ensure that it is available for sales of
New Securities by Exchanging Dealers during the Exchange Offer
Registration Period;
(iv) utilize the services of a
depositary for the Registered Exchange Offer with an address in the
Borough of Manhattan in New York City, which may be the Trustee or
any Affiliate thereof;
(v) permit Holders to withdraw
tendered Securities at any time prior to the close of business, New
York time, on the last Business Day on which the Registered
Exchange Offer is open;
(vi) prior to effectiveness of the
Exchange Offer Registration Statement, provide a supplemental
letter to the Commission (A) stating that the Company is
conducting the Registered Exchange Offer in reliance on the
position of the Commission in Exxon Capital Holdings
Corporation (pub. avail. May 13, 1988), Morgan Stanley
and Co., Inc. (pub. avail. June 5, 1991); and
(B) including a representation that the Company has not
entered into any arrangement or understanding with any person to
distribute the New Securities to be received in the Registered
Exchange Offer and that, to the best of the Company’s
information and belief, each Holder participating in the Registered
Exchange Offer is acquiring the New Securities in the ordinary
course of business and has no arrangement or understanding with any
person to participate in the distribution of the New Securities;
and
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(vii) comply in all material
respects with all applicable laws, rules and
regulations.
(d) As soon as practicable after the
close of the Registered Exchange Offer, the Company and the
Guarantors shall:
(i) accept for exchange all
Securities tendered and not validly withdrawn pursuant to the
Registered Exchange Offer;
(ii) deliver to the Trustee for
cancellation all Securities so accepted for exchange;
and
(iii) cause the Trustee promptly to
authenticate and deliver to each Holder of Securities a principal
amount of New Securities equal to the principal amount of the
Securities of such Holder so accepted for exchange.
(e) Any Broker-Dealer and any Holder
using the Registered Exchange Offer to participate in a
distribution of the New Securities (x) cannot under Commission
policy as in effect on the date of this Agreement rely on the
position of the Commission in Exxon Capital Holdings
Corporation (pub. avail. May 13, 1988) and Morgan
Stanley and Co., Inc. (pub. avail. June 5, 1991), as
interpreted in the Commission’s letter to Shearman &
Sterling dated July 2, 1993 and similar no-action letters; and
(y) must comply with the registration and prospectus delivery
requirements of the Act in connection with any secondary resale
transaction, which must be covered by an effective registration
statement containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K
under the Act if, among other circumstances, the resales are of New
Securities obtained by such Holder in exchange for Securities
acquired by such Holder directly from the Company or one of its
Affiliates. Accordingly, each Holder participating in the
Registered Exchange Offer shall be required to represent to the
Company that, at the time of the consummation of the Registered
Exchange Offer:
(i) any New Securities received by
such Holder will be acquired in the ordinary course of
business;
(ii) such Holder has no arrangement
or understanding with any person to participate, and is not
participating, in the distribution of the New Securities within the
meaning of the Act;
(iii) such Holder is not an
Affiliate of the Company, as such term is interpreted by the
Commission; and
(iv) such Holder is not holding
Securities that have, or that are reasonably likely to have, the
status of an unsold allotment in the Initial Placement.
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Such Holder shall have made such other
representations as the Company may determine to be reasonably
necessary under applicable Commission rules, regulations or
interpretations to render the use of Form S-4 or another
appropriate form under the Act available or for the Exchange Offer
Registration Statement to be declared effective.
(f) If any Initial Purchaser
determines that it is not eligible to participate in the Registered
Exchange Offer with respect to the exchange of Securities
constituting any portion of an unsold allotment, at the request of
such Initial Purchaser, the Company and the Guarantors shall issue
and deliver to such Initial Purchaser or the person purchasing New
Securities registered under a Shelf Registration Statement as
contemplated by Section 3 hereof from such Initial Purchaser,
in exchange for such Securities, a like principal amount of New
Securities, provided such New Securities will not have the same
CUSIP number as the New Securities issued pursuant to the
Registered Exchange Offer unless the CUSIP Service Bureau permits
such issuance of New Securities with the same CUSIP number. The
Company and the Guarantors shall use commercially reasonable
efforts to cause the CUSIP Service Bureau to issue the same CUSIP
number for such New Securities as for New Securities issued
pursuant to the Registered Exchange Offer.
(g) Interest on each New Security
will accrue from the last interest payment date on which interest
was paid on the Securities surrendered in exchange therefor or, if
no interest has been paid on the Securities, from the date of the
original issue of the Securities.
3. Shelf Registration .
(a) If (i) due to any change in applicable law or
interpretations thereof by the Commission’s staff, the
Company and the Guarantors determine upon advice of outside counsel
that they are not permitted to effect the Registered Exchange Offer
as contemplated by Section 2 hereof; (ii) for any other
reason the Registered Exchange Offer is not consummated within 225
days of the Refinancing Completion Date; (iii) any Initial
Purchaser so requests with respect to Securities that are not
eligible to be exchanged for New Securities in the Registered
Exchange Offer, and that are held by it following consummation of
the Registered Exchange Offer; (iv) any Holder (other than an
Initial Purchaser) is not eligible to participate in the Registered
Exchange Offer or does not receive freely transferable New
Securities in the Registered Exchange Offer; or (v) in the
case of any Initial Purchaser that participates in the Registered
Exchange Offer or acquires New Securities pursuant to
Section 2(f) hereof, such Initial Purchaser does not receive
freely transferable New Securities in exchange for Securities
constituting any portion of an unsold allotment (it being
understood that the requirement that such Initial Purchaser deliver
a Prospectus containing the information required by Item 507
or 508 of Regulation S-K under the Act in connection with sales of
New Securities acquired in exchange for such Securities shall not
result in such New Securities being not “freely
transferable” and the requirement that an Exchanging Dealer
deliver a Prospectus in connection with sales of New Securities
acquired in the Registered Exchange Offer in exchange for
Securities acquired as a result of market-making activities or
other trading activities shall not result in such New Securities
being not “freely transferable”), the Company and the
Guarantors shall effect a Shelf Registration Statement in
accordance with subsection (b) below.
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(b) (i) The Company and the
Guarantors shall as promptly as practicable (but in no event more
than 60 days after so required or requested pursuant to this
Section 3), file with the Commission and shall use
commercially reasonable efforts to cause to be declared effective
under the Act within 90 days after being so required or requested,
a Shelf Registration Statement relating to the offer and sale of
the applicable Securities or the New Securities, as applicable, by
the Holders thereof from time to time in accordance with the
methods of distribution reasonably elected by such Holders and set
forth in such Shelf Registration Statement; provided ,
however , that no Holder (other than an Initial Purchaser)
shall be entitled to have the Securities held by it covered by such
Shelf Registration Statement unless such Holder agrees in writing
to be bound by all of the provisions of this Agreement applicable
to such Holder; and provided further that with respect to
New Securities received by any Initial Purchaser in exchange for
Securities constituting any portion of an unsold allotment, the
Company and the Guarantors may, if permitted by current
interpretations by the Commission’s staff, file a
post-effective amendment to the Exchange Offer Registration
Statement containing the information required by Item 507 or
508 of Regulation S-K, as applicable, in satisfaction of its
obligations under this subsection with respect thereto, and any
such Exchange Offer Registration Statement, as so amended, shall be
referred to herein as, and governed by the provisions herein
applicable to, a Shelf Registration Statement.
(ii) Subject to
Section 4(k)(ii), the Company and the Guarantors shall use
commercially reasonable efforts to keep the Shelf Registration
Statement continuously effective, supplemented and amended as
required by the Act, in order to permit the Prospectus forming part
thereof to be usable by Holders for a period (the “Shelf
Registration Period”) from the date the Shelf Registration
Statement is declared effective by the Commission until the earlier
of (A) the first anniversary thereof or (B) the date upon
which all the Securities or New Securities, as applicable, covered
by the Shelf Registration Statement have been sold pursuant to the
Shelf Registration Statement or are no longer outstanding. The
Company and the Guarantors shall be deemed not to have used
commercially reasonable efforts to keep the Shelf Registration
Statement effective during the Shelf Registration Period if the
Company or the Guarantors voluntarily take any action that would
result in Holders of Securities covered thereby not being able to
offer and sell such Securities at any time during the Shelf
Registration Period, unless such action is (x) required by
applicable law or otherwise undertaken by the Company or the
Guarantors, as applicable, in good faith and for valid business
reasons (not including avoidance of the Company’s or the
Guarantors’ obligations hereunder), including the acquisition
or divestiture of assets, and (y) permitted pursuant to
Section 4(k)(ii) hereof.
(iii) The Company and the Guarantors
shall cause the Shelf Registration Statement and the related
Prospectus and any amendment or supplement thereto, as of the
effective date of the Shelf Registration Statement or such
amendment or supplement, (A) to comply in all material
respects with the applicable requirements of the Act and
(B) not to contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or
necessary in order to make the statements therein (in the case of
the Prospectus, in the light of the circumstances under which they
were made) not misleading.
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4. Additional Registration
Procedures . In connection with any Exchange Offer Registration
Statement and, to the extent applicable, any Shelf Registration
Statement, the following provisions shall apply.
(a) The Company and the Guarantors
shall:
(i) furnish to the Initial
Purchasers and to counsel for the Holders, a reasonable period
prior to the filing thereof with the Commission, a copy of any
Exchange Offer Registration Statement and any Shelf Registration
Statement, and each amendment thereof and each amendment or
supplement, if any, to the Prospectus included therein (including
all documents incorporated by reference therein after the initial
filing) and shall use its commercially reasonable efforts to
reflect in each such document, when so filed with the Commission,
such comments as the Initial Purchasers reasonably
propose;
(ii) include the information set
forth in Annex A hereto on the facing page of the Exchange Offer
Registration Statement, in Annex B hereto in the forepart of the
Exchange Offer Registration Statement in a section setting forth
details of the Exchange Offer, in Annex C hereto in the
underwriting or plan of distribution section of the Prospectus
contained in the Exchange Offer Registration Statement, and in
Annex D hereto in the letter of transmittal delivered pursuant to
the Registered Exchange Offer;
(iii) if requested by an Initial
Purchaser, include the information required by Item 507 or 508
of Regulation S-K, as applicable, in the Prospectus contained in
the Exchange Offer Registration Statement; and
(iv) in the case of a Shelf
Registration Statement, include the names of the Holders that
propose to sell Securities pursuant to the Shelf Registration
Statement as selling security holders and have complied with the
terms hereof.
(b) The Company and the Guarantors
shall ensure that:
(i) any Registration Statement and
any amendment thereto and any Prospectus forming part thereof and
any amendment or supplement thereto complies in all material
respects with the Act; and
(ii) any Registration Statement and
any amendment thereto does not, when it becomes effective, contain
an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading.
(c) The Company and the Guarantors
shall advise the Initial Purchasers, the Holders of Securities
covered by any Shelf Registration Statement and any Exchanging
Dealer under any Exchange Offer Registration Statement that has
provided in writing to the Company a telephone or facsimile number
and address for notices, and, if requested by any Initial Purchaser
or any such Holder or Exchanging Dealer, shall confirm such advice
in writing (which notice
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pursuant to clauses (ii)-(v) hereof shall
be accompanied by an instruction to suspend the use of the
Prospectus until the Company shall have remedied the basis for such
suspension):
(i) when a Registration Statement
and any amendment thereto has been filed with the Commission and
when the Registration Statement or any post-effective amendment
thereto has become effective;
(ii) of any request by the
Commission for any amendment or supplement to the Registration
Statement or the Prospectus or for additional
information;
(iii) of the issuance by the
Commission of any stop order suspending the effectiveness of the
Registration Statement or the institution or threatening of any
proceeding for that purpose;
(iv) of the receipt by the Company
of any notification with respect to the suspension of the
qualification of the securities included therein for sale in any
jurisdiction or the institution or threatening of any proceeding
for such purpose; and
(v) of the happening of any event
that requires any change in the Registration Statement or the
Prospectus so that, as of such date, they (A) do not contain
any untrue statement of a material fact and (B) do not omit to
state a material fact required to be stated therein or necessary to
make the statements therein (in the case of the Prospectus, in the
light of the circumstances under which they were made) not
misleading.
(d) The Company and the Guarantors
shall use commercially reasonable efforts to prevent the issuance
of any order suspending the effectiveness of any Registration
Statement or the qualification of the securities therein for sale
in any jurisdiction and, if issued, to obtain as soon as possible
the withdrawal thereof.
(e) The Company and the Guarantors
shall furnish to each Holder of Securities covered by any Shelf
Registration Statement, without charge, at least one copy of such
Shelf Registration Statement and any post-effective amendment
thereto, and, if the Holder so requests in writing, all exhibits
thereto (including exhibits incorporated by reference therein) and
documents incorporated by reference.
(f) The Company and the Guarantors
shall, during the Shelf Registration Period, promptly deliver to
each Holder of Securities covered by any Shelf Registration
Statement, without charge, as many copies of the Prospectus
(including the Preliminary Prospectus) included in such Shelf
Registration Statement and any amendment or supplement thereto as
such Holder may reasonably request. The Company and the Guarantors
consent to the use of the Prospectus or any amendment or supplement
thereto by each of the selling Holders of Securities in connection
with the offering and sale of the Securities covered by the
Prospectus, or any amendment or supplement thereto, included in the
Shelf Registration Statement.
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(g) The Company and the Guarantors
shall furnish to each Exchanging Dealer which so requests, without
charge, at least one copy of the Exchange Offer Registration
Statement and any post-effective amendment thereto, and, if the
Exchanging Dealer so requests in writing, all exhibits thereto
(including exhibits incorporated by reference therein) and
documents incorporated by reference.
(h) The Company and the Guarantors
shall promptly deliver to each Initial Purchaser, each Exchanging
Dealer and each other person required to deliver a Prospectus
during the Exchange Offer Registration Period, without charge, as
many copies of the Prospectus included in such Exchange Offer
Registration Statement and any amendment or supplement thereto as
any such person may reasonably request. The Company and the
Guarantors consent to the use of the Prospectus or any amendment or
supplement thereto by any Initial Purchaser, any Exchanging Dealer
and any such other person that may be required to deliver a
Prospectus following the Registered Exchange Offer in connection
with the offering and sale of the New Securities covered by the
Prospectus, or any amendment or supplement thereto, included in the
Exchange Offer Registration Statement.
(i) Prior to the Registered Exchange
Offer or any other offering of Securities pursuant to any
Registration Statement, the Company and the Guarantors shall
arrange, if necessary, for the qualification of the Securities or
the New Securities for sale under the laws of such United States
jurisdictions as any Holder shall reasonably request and shall
maintain such qualification in effect so long as required; provided
that in no event shall the Company or the Guarantors be obligated
to qualify to do business in any jurisdiction where they are not
then so qualified or to take any action that would subject them to
service of process in suits, other than those arising out of the
Registered Exchange Offer or any offering pursuant to a Shelf
Registration Statement, in any such jurisdiction where they are not
then so subject.
(j) The Company and the Guarantors
shall cooperate with the Holders of Securities to facilitate the
timely preparation and delivery of certificates representing New
Securities or Securities to be issued or sold pursuant to any
Registration Statement free of any restrictive legends and in such
denominations and registered in such names as Holders may request,
as applicable.
(k) (i) Upon the occurrence of any
event contemplated by subsections (c)(ii) through
(v) above, the Company and the Guarantors shall promptly (or
within the time period provided for by clause (ii) hereof, if
applicable) prepare a post-effective amendment to the applicable
Registration Statement or an amendment or supplement to the related
Prospectus or file any other required document so that, as
thereafter delivered to the Initial Purchasers of the securities
included therein, the Prospectus will not include an untrue
statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were
made, not misleading. In such circumstances, other than with
respect to any Deferral Period, the period of effectiveness of the
Exchange Offer Registration Statement provided for in
Section 2 shall be extended by the number of days from and
including the date of the giving of a notice of suspension pursuant
to Section 4(c) to and including the date when the Initial
Purchasers, the Holders of the Securities and any known Exchanging
Dealer shall have received such amended or supplemented Prospectus
pursuant to this Section.
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(ii) Upon the occurrence or
existence of a possible acquisition or business combination or
other transaction, business development or event involving the
Company that may require disclosure in the Exchange Offer
Registration Statement or the Shelf Registration Statement and the
Company determines in the exercise of its reasonable judgment that
such disclosure is not in the best interests of the Company and its
stockholders, the Company shall promptly give notice to the Holders
that the availability of the Exchange Offer Registration Statement
or the Shelf Registration, as the case may be, is suspended,
provided that such notice shall not require the Company to
disclose the possible acquisition or business combination or other
transaction, business development or event if the Company
determines in good faith that such acquisition or business
combination or other transaction, business development or event
should remain confidential. Upon receipt of any such notice, no
Holder shall sell any Securities or New Securities, as applicable,
pursuant to the Exchange Offer Registration Statement or the Shelf
Registration Statement, as the case may be, until such
Holder’s receipt of copies of the supplemented or amended
Prospectus provided for in Section 4(k)(i) hereof, or until it
is advised in writing by the Company that the Prospectus may be
used, and has received copies of any additional or supplemental
filings that are incorporated or deemed incorporated by reference
in such Prospectus. Upon the abandonment, consummation or
termination of the possible acquisition or business combination or
other transaction, business development or event or the
availability of the required financial statements with respect to a
possible acquisition or business combination, the suspension of the
use of the Exchange Offer Registration Statement or the Shelf
Registration Statement, as the case may be, pursuant to this
paragraph shall cease and the Company shall promptly notify such
Holders that the use of the Prospectus contained in the Exchange
Offer Registration Statement or the Shelf Registration Statement,
as the case may be, as amended or supplemented may resume. The
period during which the availability of the Shelf Registration or
the Exchange Offer Registration Statement, as the case may be, and
any Prospectus is suspended (the “Deferral Period”)
shall not exceed 45 days in any three-month period or 90 days in
any 365-day period.
(l) Not later than the effective
date of any Registration Statement, the Company and the Guarantors
shall provide a CUSIP number for the Securities or the New
Securities, as the case may be, registered under such Registration
Statement and provide the Trustee with printed certificates for
such Securities or New Securities, in a form eligible for deposit
with The Depository Trust Company.
(m) The Company shall comply with
all applicable rules and regulations of the Commission and shall
make generally available to its security holders an earnings
statement satisfying the provisions of Section 11(a) of the
Act as soon as practicable after the effective date of the
applicable Registration Statement and in any event no later than 45
days after the end of a 12-month period (or 90 days, if such period
is a fiscal year) beginning with the first month of the
Company’s first fiscal quarter commencing after the effective
date of the applicable Registration Statement.
12
(n) The Company and the Guarantors
shall cause the Indenture to be qualified under the Trust Indenture
Act in a timely manner.
(o) The Company and the Guarantors
may require each Holder of Securities to be sold pursuant to any
Shelf Registration Statement to furnish to the Company and the
Guarantors, as applicable, such information regarding the Holder
and the distribution of such securities as the Company or the
Guarantors may from time to time reasonably require for inclusion
in such Registration Statement. The Company and the Guarantors may
exclude from such Shelf Registration Statement the Securities of
any Holder that unreasonably fails to furnish such information
within a reasonable time after receiving such request.
(p) In the case of any Shelf
Registration Statement, the Company and the Guarantors shall enter
into customary agreements (including, if requested, an underwriting
ag