Exhibit
4.2
Pogo Producing
Company
$500,000,000
Principal Amount of
6.875% Senior Subordinated Notes due 2017
Exchange and Registration
Rights Agreement
September 23,
2005
Goldman, Sachs &
Co.,
As representative
of the several Purchasers
named in
Schedule I to the Purchase Agreement
85 Broad Street
New York, New York
10004
Ladies and
Gentlemen:
Pogo
Producing Company, a Delaware corporation (the
“Company”), proposes to issue and sell to the
Purchasers (as defined herein) upon the terms set forth in the
Purchase Agreement (as defined herein) $500,000,000 principal
amount of its 6.875% Senior Subordinated Notes due 2017.
As an
inducement to the Purchasers to enter into the Purchase Agreement
and in satisfaction of a condition to the obligations of the
Purchasers thereunder, the Company agrees with the Purchasers for
the benefit of holders (as defined herein) from time to time of the
Registrable Securities (as defined herein) as follows:
1.
Certain
Definitions . For purposes of
this Exchange and Registration Rights Agreement, the following
terms shall have the following respective meanings:
“ Base
Interest ” shall mean the interest that would otherwise
accrue on the Securities under the terms thereof and the Indenture,
without giving effect to the provisions of this
Agreement.
The
term “ broker-dealer ” shall mean any broker or
dealer registered with the Commission under the Exchange
Act.
“ Closing Date
” shall mean the date on which the Securities are initially
issued.
“ Commission
” shall mean the United States Securities and Exchange
Commission, or any other federal agency at the time administering
the Exchange Act or the Securities Act, whichever is the relevant
statute for the particular purpose.
“ DTC ”
shall mean The Depository Trust Company.
“ Effective
Time ,” in the case of (i) an Exchange Registration,
shall mean the time and date as of which the Commission declares
the Exchange Registration Statement effective or as of which the
Exchange Registration Statement otherwise becomes effective and
(ii) a Shelf
Registration, shall mean
the time and date as of which the Commission declares the Shelf
Registration Statement effective or as of which the Shelf
Registration Statement otherwise becomes effective.
“ Electing
Holder ” shall mean any holder of Registrable Securities
that has returned a completed and signed Notice and Questionnaire
to the Company in accordance with Section 3(d)(ii) or
3(d)(iii) hereof.
“ Exchange Act
” shall mean the Securities Exchange Act of 1934, or any
successor thereto, as the same shall be amended from time to
time.
“ Exchange
Offer ” shall have the meaning assigned thereto in
Section 2(a) hereof.
“ Exchange
Registration ” shall have the meaning assigned thereto in
Section 3(c) hereof.
“ Exchange
Registration Statement ” shall have the meaning assigned
thereto in Section 2(a) hereof.
“ Exchange
Securities ” shall have the meaning assigned thereto in
Section 2(a) hereof.
The
term “ holder ” shall mean each of the
Purchasers and other persons who acquire Registrable Securities
from time to time (including any successors or assigns), in each
case for so long as such person owns any Registrable
Securities.
“ Indenture
” shall mean the Indenture, dated as of September 23,
2005, between the Company and The Bank of New York Trust Company,
N.A., as Trustee, as the same shall be amended from time to
time.
“ Notice and
Questionnaire ” means a Notice of Registration Statement
and Selling Securityholder Questionnaire substantially in the form
of Exhibit A hereto.
The
term “ person ” shall mean a corporation,
association, partnership, organization, business, individual,
government or political subdivision thereof or governmental
agency.
“ Purchase
Agreement ” shall mean the Purchase Agreement, dated
September 21, 2005, between the Purchasers and the Company
relating to the Securities.
“ Purchasers
” shall mean the Purchasers named in Schedule I to the
Purchase Agreement.
“ Registrable
Securities ” shall mean the Securities; provided,
however, that a Security shall cease to be a Registrable Security
when (i) in the circumstances contemplated by
Section 2(a) hereof, the Security has been exchanged for
an Exchange Security in an Exchange Offer as contemplated in
Section 2(a) hereof (provided that any Exchange Security
that, pursuant to the last two sentences of Section 2(a), is
included in a prospectus for use in connection with resales by
broker-dealers shall be deemed to be a Registrable Security with
respect to Sections 5, 6 and 9 until termination of the Resale
Period; (ii) in the circumstances contemplated by
Section 2(b) hereof, a Shelf Registration Statement
registering such Security under the Securities Act has been
declared or becomes effective and such Security has been sold or
otherwise transferred by the holder thereof pursuant to and in a
manner contemplated by such effective Shelf Registration Statement;
(iii) such Security is sold pursuant to
Rule 144
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under circumstances in
which any legend borne by such Security relating to restrictions on
transferability thereof, under the Securities Act or otherwise, is
removed by the Company or pursuant to the Indenture; (iv) such
Security is eligible to be sold pursuant to paragraph (k) of
Rule 144; or (v) such Security shall cease to be
outstanding.
“ Registration
Default ” shall have the meaning assigned thereto in
Section 2(c) hereof.
“ Registration
Expenses ” shall have the meaning assigned thereto in
Section 4 hereof.
“ Resale
Period ” shall have the meaning assigned thereto in
Section 2(a) hereof.
“ Restricted
Holder ” shall mean (i) a holder that is an
affiliate of the Company within the meaning of Rule 405,
(ii) a holder who acquires Exchange Securities outside the
ordinary course of such holder’s business, (iii) a
holder who has arrangements or understandings with any person to
participate in the Exchange Offer for the purpose of distributing
Exchange Securities and (iv) a holder that is a broker-dealer,
but only with respect to Exchange Securities received by such
broker-dealer pursuant to an Exchange Offer in exchange for
Registrable Securities acquired by the broker-dealer directly from
the Company.
“
Rule 144 ,” “ Rule 405 ”
and “ Rule 415 ” shall mean, in each case,
such rule promulgated under the Securities Act (or any
successor provision), as the same shall be amended from time to
time.
“ Securities
” shall mean the Company’s 6.875% Senior Subordinated
Notes due 2017 to be issued and sold to the Purchasers and
securities issued in exchange therefor or in lieu thereof pursuant
to the Indenture.
“ Securities
Act ” shall mean the Securities Act of 1933, or any
successor thereto, as the same shall be amended from time to
time.
“ Shelf
Registration ” shall have the meaning assigned thereto in
Section 2(b) hereof.
“ Shelf
Registration Statement ” shall have the meaning assigned
thereto in Section 2(b) hereof.
“ Special
Interest ” shall have the meaning assigned thereto in
Section 2(c) hereof.
“ Suspension
Period ” shall have the meaning assigned thereto in
Section 3(h) hereof.
“ Trust Indenture
Act ” shall mean the Trust Indenture Act of 1939, or any
successor thereto, and the rules, regulations and forms promulgated
thereunder, all as the same shall be amended from time to
time.
“ Trustee
” shall mean The Bank of New York Trust Company,
N.A.
Unless the context
otherwise requires, any reference herein to a “Section”
or “clause” refers to a Section or clause, as the
case may be, of this Exchange and Registration Rights Agreement,
and the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to
this Exchange and Registration Rights Agreement as a whole and not
to any particular Section or other subdivision.
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All
references to “$” shall refer to the lawful currency of
the United States of America.
2.
Registration Under the
Securities Act.
(a)
Except as set forth in
Section 2(b) below, the Company agrees to file under the
Securities Act, no later than 90 days after the Closing Date, a
registration statement relating to an offer to exchange (such
registration statement, the “Exchange Registration
Statement”, and such offer, the “Exchange Offer”)
any and all of the Securities for a like aggregate principal amount
of debt securities issued by the Company, which debt securities are
substantially identical to the Securities (and are entitled to the
benefits of a trust indenture which is substantially identical to
the Indenture or is the Indenture and which has been qualified
under the Trust Indenture Act), except that they have been
registered pursuant to an effective registration statement under
the Securities Act and do not contain provisions for the additional
interest contemplated in Section 2(c) below (such new
debt securities hereinafter called “Exchange
Securities”). The Company agrees to use its reasonable
best efforts to cause the Exchange Registration Statement to become
effective under the Securities Act no later than 180 days after the
Closing Date. The Exchange Offer will be registered under the
Securities Act on the appropriate form and will comply with all
applicable tender offer rules and regulations under the
Exchange Act. The Company further agrees to use its
reasonable best efforts to commence and complete the Exchange Offer
no later than 45 days after such registration statement has become
effective, hold the Exchange Offer open for at least 30 days and
exchange the Exchange Securities for all Registrable Securities
that may legally be exchanged in the Exchange Offer and that have
been properly tendered and not withdrawn on or prior to the
expiration of the Exchange Offer. The Exchange Offer will be deemed
to have been “completed” only if the debt securities
received by holders other than Restricted Holders in the Exchange
Offer for Registrable Securities are, upon receipt, transferable by
each such holder without restriction under the Securities Act
(except for the requirement to deliver a prospectus included in the
Exchange Offer Registration Statement applicable to resales by
certain broker-dealers of Exchange Securities received by them
pursuant to the Exchange Offer) and the Exchange Act. The Exchange
Offer shall be deemed to have been completed upon the earlier to
occur of (i) the Company having exchanged the Exchange
Securities for all outstanding Registrable Securities pursuant to
the Exchange Offer and (ii) the Company having exchanged,
pursuant to the Exchange Offer, Exchange Securities for all
Registrable Securities that may legally be exchanged in the
Exchange Offer and that have been properly tendered and not
withdrawn before the expiration of the Exchange Offer, which shall
be on a date that is at least 30 days following the commencement of
the Exchange Offer. The Company agrees (x) to include in the
Exchange Registration Statement a prospectus for use in any resales
by any holder of Exchange Securities that is a broker-dealer
eligible under Commission interpretations as of the date hereof to
use such a prospectus for such resales and (y) to keep such
Exchange Registration Statement effective for a period (the
“Resale Period”) beginning when Exchange Securities are
first issued in the Exchange Offer and ending upon the earlier of
the expiration of the 180th day after the Exchange Offer has been
completed or such time as such broker-dealers no longer own any
Registrable Securities. With respect to such Exchange
Registration Statement, such holders shall have the benefit of the
rights of indemnification and contribution set forth in
Sections 6(a), (c), (d) and (e) hereof.
(b)
If
(i) on or prior to the time the Exchange Offer is completed
existing Commission interpretations are changed such that the debt
securities received by holders other than Restricted Holders in the
Exchange Offer for Registrable Securities are not or would not be,
upon receipt, transferable by each such holder without restriction
under the Securities Act ; (ii)
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the Exchange Offer has not
been completed within 255 days following the Closing Date or
(iii) the Exchange Offer is not available to any holder of the
Securities because of applicable law or Commission interpretations
and, unless it is a Purchaser, such holder notifies the Company of
such unavailability prior to the 60th day following consummation of
the Exchange Offer, the Company shall, in lieu of (or, in the case
of clause (iii), in addition to) conducting the Exchange Offer
contemplated by Section 2(a), use its reasonable best efforts
to file under the Securities Act no later than the later of 90 days
following the Closing Date and 45 days after the time such
obligation to file arises, a “shelf” registration
statement providing for the registration of, and the sale on a
continuous or delayed basis by the holders of, all of the
Registrable Securities, pursuant to Rule 415 or any similar
rule that may be adopted by the Commission (such filing, the
“Shelf Registration” and such registration statement,
the “Shelf Registration Statement”). The Company
agrees to use its reasonable best efforts (x) to cause the Shelf
Registration Statement to become or be declared effective no later
than 120 days after such Shelf Registration Statement is filed and
to keep such Shelf Registration Statement continuously effective
for a period ending on the earlier of the second anniversary of the
Effective Time or such time as there are no longer any Registrable
Securities outstanding, provided, however, that no holder shall be
entitled to be named as a selling securityholder in the Shelf
Registration Statement or to use the prospectus forming a part
thereof for resales of Registrable Securities unless such holder is
an Electing Holder, and (y) after the Effective Time of the Shelf
Registration Statement, promptly upon the request of any holder of
Registrable Securities that is not then an Electing Holder, to take
any action reasonably necessary to enable such holder to use the
prospectus forming a part thereof for resales of Registrable
Securities, including, without limitation, any action necessary to
identify such holder as a selling securityholder in the Shelf
Registration Statement; provided, however, that nothing in this
Clause (y) shall (a) relieve any such holder of the obligation
to return a completed and signed Notice and Questionnaire to the
Company in accordance with Section 3(d)(iii) hereof or
(b) in the case of a Shelf Registration under clause
(iii) above, require the Company to enable any holder not
covered by such clause to use such prospectus. The Company
further agrees to supplement or make amendments to the Shelf
Registration Statement, as and when required by the rules,
regulations or instructions applicable to the registration form
used by the Company for such Shelf Registration Statement or by the
Securities Act or rules and regulations thereunder for shelf
registration, and the Company agrees to furnish to each Electing
Holder copies of any such supplement or amendment prior to its
being used or promptly following its filing with the
Commission.
(c)
In
the event that (i) the Company has not filed the Exchange
Registration Statement or Shelf Registration Statement on or before
the date on which such registration statement is required to be
filed pursuant to Section 2(a) or 2(b), respectively, or
(ii) such Exchange Registration Statement or Shelf
Registration Statement has not become effective or been declared
effective by the Commission on or before the date on which such
registration statement is required to become or be declared
effective pursuant to Section 2(a) or 2(b), respectively,
or (iii) the Exchange Offer has not been completed within 45
days after the initial effective date of the Exchange Registration
Statement relating to the Exchange Offer (if the Exchange Offer is
then required to be made) or (iv) any Exchange Registration
Statement or Shelf Registration Statement required by
Section 2(a) or 2(b) hereof is filed and declared
effective but shall thereafter either be withdrawn by the Company
or shall become subject to an effective stop order issued pursuant
to Section 8(d) of the Securities Act suspending the
effectiveness of such registration statement (except as
specifically permitted herein) without being succeeded as promptly
as practicable by an additional registration statement filed and
declared effective (each such event referred to in clauses
(i) through (iv), a “Registration
5
Default” and each
period during which a Registration Default has occurred and is
continuing, a “Registration Default Period”), then, as
liquidated damages for such Registration Default, subject to the
provisions of Section 8(b), special interest (“Special
Interest”), in addition to the Base Interest, shall accrue at
a per annum rate of 0.25% for the first 90 days of the Registration
Default Period, at a per annum rate of 0.50% for the second 90 days
of the Registration Default Period, at a per annum rate of 0.75%
for the third 90 days of the Registration Default Period and at a
per annum rate of 1.0% thereafter for the remaining portion of the
Registration Default Period. Following the cure of all
Registration Defaults, the accrual of Special Interest shall
cease.
(d)
The
Company shall take all actions reasonably necessary or advisable to
be taken by it to ensure that the transactions contemplated herein
are effected as so contemplated.
(e)
Any
reference herein to a registration statement as of any time shall
be deemed to include any document incorporated, or deemed to be
incorporated, therein by reference as of such time and any
reference herein to any post-effective amendment to a registration
statement as of any time shall be deemed to include any document
incorporated, or deemed to be incorporated, therein by reference as
of such time.
3.
Registration
Procedures . If the Company
files a registration statement pursuant to
Section 2(a) or Section 2(b), the following
provisions shall apply:
(a)
At or
before the Effective Time of the Exchange Offer or the Shelf
Registration, as the case may be, the Company shall qualify the
Indenture under the Trust Indenture Act.
(b)
In
the event that such qualification would require the appointment of
a new trustee under the Indenture, the Company shall appoint a new
trustee thereunder pursuant to the applicable provisions of the
Indenture.
(c)
In
connection with the Company’s obligations with respect to the
registration of Exchange Securities as contemplated by
Section 2(a) (the “Exchange Registration”),
if applicable, the Company shall:
(i)
prepare and file with the
Commission no later than 90 days after the Closing Date, an
Exchange Registration Statement on any form which may be utilized
by the Company and which shall permit the Exchange Offer and
resales of Exchange Securities by broker-dealers during the Resale
Period to be effected as contemplated by Section 2(a), and use
its reasonable best efforts to cause such Exchange Registration
Statement to become effective no later than 180 days after the
Closing Date;
(ii)
as
soon as practicable prepare and file with the Commission such
amendments and supplements to such Exchange Registration Statement
and the prospectus included therein as may be necessary to effect
and maintain the effectiveness of such Exchange Registration
Statement for the periods and purposes contemplated in
Section 2(a) hereof and as may be required by the
applicable rules and regulations of the Commission and the
instructions applicable to the form of such Exchange Registration
Statement, and promptly provide each broker-dealer holding Exchange
Securities with such number of copies of the prospectus included
therein (as then amended or supplemented), in conformity in all
material respects with the requirements of the Securities Act and
the Trust Indenture Act and the rules and
6
regulations of the
Commission thereunder, as such broker-dealer reasonably may request
prior to the expiration of the Resale Period, for use in connection
with resales of Exchange Securities with respect to which it may
use such prospectus;
(iii)
promptly notify each
broker-dealer that has notified the Company in writing that it is a
broker-dealer eligible to participate in the Exchange Offer and
that has requested or received copies of the prospectus included in
such registration statement, and confirm such advice in writing,
(A) when such Exchange Registration Statement or the
prospectus included therein or any prospectus amendment or
supplement or post-effective amendment has been filed, and, with
respect to such Exchange Registration Statement or any
post-effective amendment, when the same has become effective,
(B) of any comments by the Commission and by the blue sky or
securities commissioner or regulator of any state with respect
thereto or any request by the Commission for amendments or
supplements to such Exchange Registration Statement or prospectus
or for additional information, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of such
Exchange Registration Statement or the initiation or threatening of
any proceedings for that purpose, (D) if at any time during
the Resale Period when a prospectus is required to be delivered
under the Securities Act, the Company becomes aware that the
representations and warranties of the Company contemplated by
Section 5 cease to be true and correct in all material
respects, (E) of the receipt by the Company of any
notification with respect to the suspension of the qualification of
the Exchange Securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose, or
(F) at any time during the Resale Period when a prospectus is
required to be delivered under the Securities Act, that such
Exchange Registration Statement, prospectus, prospectus amendment
or supplement or post-effective amendment does not conform in all
material respects to the applicable requirements of the Securities
Act and the Trust Indenture Act and the rules and regulations
of the Commission thereunder or contains an untrue statement of a
material fact or omits to state any material fact required to be
stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing;
(iv)
in
the event that the Company would be required, pursuant to
Section 3(c)(iii)(F) above, to notify any broker-dealers
holding Exchange Securities, without unreasonable delay prepare and
furnish to each such holder a reasonable number of copies of a
prospectus supplemented or amended so that, as thereafter delivered
to purchasers of such Exchange Securities during the Resale Period,
such prospectus shall conform in all material respects to the
applicable requirements of the Securities Act and the Trust
Indenture Act and the rules and regulations of the Commission
thereunder and shall not 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 in light
of the circumstances then existing; and each such broker-dealer
agrees that upon receipt of any notice from the Company pursuant to
Section 3(c)(iii)(F) it shall forthwith discontinue the
disposition of Exchange Securities pursuant to the Exchange Offer
Registration Statement applicable to such Exchange Securities until
such broker-dealer shall have received copies of such amended or
supplemented prospectus, and if so directed by the Company, such
broker-dealer shall deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies, then in such
broker-dealer’s possession of the prospectus covering such
Exchange Securities at the time of receipt of such
notice;
7
(v)
use
its reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of such Exchange Registration
Statement or any post-effective amendment thereto at the earliest
practicable date;
(vi)
if
required, use its reasonable best efforts to (A) register or
qualify the Exchange Securities under the securities laws or blue
sky laws of such jurisdictions as are contemplated by
Section 2(a) no later than the commencement of the
Exchange Offer, (B) keep such registrations or qualifications
in effect and comply with such laws so as to permit the continuance
of offers, sales and dealings therein in such jurisdictions until
the expiration of the Resale Period and (C) take any and all
other actions as may be reasonably necessary or advisable to enable
each broker-dealer holding Exchange Securities that is eligible to
use the prospectus included in the Exchange Registration Statement
in connection with resales thereof to consummate the disposition
thereof in such jurisdictions; provided, however, that the Company
shall not be required for any such purpose to (1) qualify as a
foreign corporation in any jurisdiction wherein it would not
otherwise be required to qualify but for the requirements of this
Section 3(c)(vi), (2) consent to general service of
process in any such jurisdiction, qualify as a dealer in securities
in an jurisdiction in which it is not so qualified or subject
itself to taxation in respect of doing business in any jurisdiction
in which it is not otherwise so subject or (3) make any
changes to its certificate of incorporation or bylaws or any
agreement between it and its stockholders;
(vii)
use
its reasonable best efforts to obtain the consent or approval of
each governmental agency or authority, whether federal, state or
local, which may be required to effect the Exchange Registration,
the Exchange Offer and the offering and sale of Exchange Securities
by broker-dealers that are eligible to use the prospectus included
in the Exchange Registration Statement in connection with resales
thereof during the Resale Period;
(viii)
provide a CUSIP number for
all Exchange Securities, not later than the applicable Effective
Time;
(ix)
comply with all applicable
rules and regulations of the Commission, and make generally
available to the Company’s securityholders as soon as
practicable but no later than 18 months after the effective date of
such Exchange Registration Statement, an earning statement of the
Company and its subsidiaries complying with
Section 11(a) of the Securities Act (including, at the
option of the Company, Rule 158 thereunder).
(d)
In
connection with the Company’s obligations with respect to the
Shelf Registration, if applicable, the Company shall:
(i)
prepare and file with the
Commission within the time periods specified in and subject to the
terms of Section 2(b), a Shelf Registration Statement on any
form which may be utilized by the Company and which shall register
all of the Registrable Securities for resale by the holders
thereof, in accordance with such method or methods of disposition
as may be specified by such of the holders as, from time to time,
may be Electing Holders, and use its reasonable best efforts to
cause such Shelf Registration Statement to become effective within
the time periods specified in Section 2(b);
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(ii)
not
less than 30 calendar days prior to the Effective Time of the Shelf
Registration Statement, mail the Notice and Questionnaire to the
holders of record of Registrable Securities (or, if the Securities
are then in book-entry form, to all of the direct participants of
DTC that DTC identifies to the Company on a security position
listing as holders of the Securities); no holder shall be entitled
to be named as a selling securityholder in the Shelf Registration
Statement as of the Effective Time, and no holder shall be entitled
to use the prospectus forming a part thereof for resales of
Registrable Securities at any time, unless such holder has returned
a completed and signed Notice and Questionnaire to the Company by
the deadline for response set forth therein; provided, however,
holders of Registrable Securities shall have at least 28 calendar
days from the date on which the Notice and Questionnaire is first
mailed to such holders to return a completed and signed Notice and
Questionnaire to the Company;
(iii)
after
the Effective Time of the Shelf Registration Statement, upon the
request of any holder of Registrable Securities that is not then an
Electing Holder, promptly send a Notice and Questionnaire to such
holder; provided, however, that the Company shall not be required
to take any action to name such holder as a selling securityholder
in the Shelf Registration Statement or to enable such holder to use
the prospectus forming a part thereof for resales of Registrable
Securities until such holder has returned a completed and signed
Notice and Questionnaire to the Company and then only if such
holder is eligible to be so named or to use such prospectus
pursuant to Section 2(b);
(iv)
as
soon as practicable prepare and file with the Commission such
amendments and supplements to such Shelf Registration Statement and
the prospectus included therein as may be necessary to effect and
maintain the effectiveness of such Shelf Registration Statement for
the period specified in Section 2(b) hereof and as may be
required by the applicable rules and regulations of the
Commission and the instructions applicable to the form of such
Shelf Registration Statement, and furnish to the Electing Holders
copies of any such supplement or amendment simultaneously with or
prior to its being used or filed with the Commission;
(v)
comply with the provisions
of the Securities Act with respect to the disposition of all of the
Registrable Securities covered by such Shelf Registration Statement
in accordance with the intended methods of disposition by the
Electing Holders provided for in such Shelf Registration
Statement;
(vi)
provide (A) the
Electing Holders, (B) the underwriters (which term, for
purposes of this Exchange and Registration Rights Agreement, shall
include a person deemed to be an underwriter within the meaning of
Section 2(a)(11) of the Securities Act), if any, thereof,
(C) any sales or placement agent therefor, (D) not more
than one counsel for any such underwriter or agent and (E) not
more than one counsel for all the Electing Holders the opportunity
to participate in the preparation of such Shelf Registration
Statement, each prospectus included therein or filed with the
Commission and each amendment or supplement thereto;
(vii)
for a
reasonable period prior to the filing of such Shelf Registration
Statement, and throughout the period specified in
Section 2(b), make available at reasonable times at the
Company’s principal place of business or such other
reasonable
9
place for inspection by
the persons referred to in Section 3(d)(vi) who shall
certify to the Company that they have a current intention to sell
the Registrable Securities pursuant to the Shelf Registration such
financial and other information and books and records of the
Company, and cause the officers, employees, counsel and independent
certified public accountants of the Company to respond to such
inquiries, as shall be reasonably necessary, in the judgment of the
respective counsel referred to in such Section, to conduct a
reasonable investigation within the meaning of Section 11 of
the Securities Act; provided, however, that each such party shall
be required to maintain in confidence and not to disclose to any
other person any information or records reasonably designated by
the Company as being confidential, until such time as (A) such
information becomes a matter of public record (whether by virtue of
its inclusion in such registration statement or otherwise, but not
because of disclosure, unauthorized by the Company or its
representatives, by such person or its representatives), or
(B) such person shall be required so to disclose such
information pursuant to a subpoena or order of any court or other
governmental agency or body having jurisdiction over the matter
(subject to the requirements of such order, and only after such
person shall have given the Company prompt prior written notice of
such requirement), or (C) such information is required to be
set forth in such Shelf Registration Statement or the prospectus
included therein or in an amendment to such Shelf Registration
Statement or an amendment or supplement to such prospectus in order
that such Shelf Registration Statement, prospectus, amendment or
supplement, as the case may be, complies with applicable
requirements of the federal securities laws and the rules and
regulations of the Commission and does not contain an untrue
statement of a material fact or omit to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances
then existing;
(viii)
promptly notify each of the
Electing Holders, any sales or placement agent therefor and any
underwriter thereof (which notification may be made through any
managing underwriter that is a representative of such underwriter
for such purpose) and confirm such advice in writing, (A) when
such Shelf Registration Statement or the prospectus included
therein or any prospectus amendment or supplement or post-effective
amendment has been filed, and, with respect to such Shelf
Registration Statement or any post-effective amendment, when the
same has become effective, (B) of any comments by the
Commission and by the blue sky or securities commissioner or
regulator of any state with respect thereto or any request by the
Commission for amendments or supplements to such Shelf Registration
Statement or prospectus or for additional information, (C) of
the issuance by the Commission of any stop order suspending the
effectiveness of such Shelf Registration Statement or the
initiation or threatening of any proceedings for that purpose,
(D) if at any time when a prospectus is required to be
delivered under the Securities Act, the Company becomes aware that
the representations and warranties of the Company contemplated by
Section 3(d)(xvii) or Section 5 cease to be true and
correct in all material respects, (E) of the receipt by the
Company of any notification with respect to the suspension of the
qualification of the Registrable Securities for sale in any
jurisdiction or the initiation or threatening of any proceeding for
such purpose, or (F) if at any time when a prospectus is
required to be delivered under the Securities Act, that such Shelf
Registration Statement, prospectus, prospectus amendment or
supplement or post-effective amendment does not conform in all
material respects to the applicable requirements of the Securities
Act and the Trust Indenture Act and the rules and regulations
of the Commission thereunder or contains an untrue statement of a
material fact or omits to state any material fact required to
be
10
stated therein or
necessary to make the statements therein not misleading in light of
the circumstances then existing;
(ix)
use
its reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of such registration statement or any
post-effective amendment thereto at the earliest practicable
date;
(x)
if
requested by any managing underwriter or underwriters, any
placement or sales agent or any Electing Holder, promptly
incorporate in a prospectus supplement or post-effective amendment
such information as is required by the applicable rules and
regulations of the Commission and as such managing underwriter or
underwriters, such agent or such Electing Holder reasonably
specifies should be included therein relating to the terms of the
sale of such Registrable Securities, including information with
respect to the principal amount of Registrable Securities being
sold by such Electing Holder or agent or to any underwriters, the
name and description of such Electing Holder, agent or underwriter,
the offering price of such Registrable Securities and any discount,
commission or other compensation payable in respect thereof, the
purchase price being paid therefor by such underwriters and with
respect to any other terms of the offering of the Registrable
Securities to be sold by such Electing Holder or agent or to such
underwriters; and make all required filings of such prospectus
supplement or post-effective amendment promptly after notification
of the matters to be incorporated in such prospectus supplement or
post-effective amendment;
(xi)
furnish to each Electing
Holder, each placement or sales agent, if any, therefor, each
underwriter, if any, thereof and the respective counsel referred to
in Section 3(d)(vi) an executed copy (or, in the case of
an Electing Holder, a conformed copy) of such Shelf Registration
Statement, each such amendment and supplement thereto (in each case
excluding all exhibits thereto and documents incorporated by
reference therein unless specifically requested) and such number of
copies of such Shelf Registration Statement (excluding exhibits
thereto and documents incorporated by reference therein unless
specifically so requested by such Electing Holder, agent or
underwriter, as the case may be) and of the prospectus included in
such Shelf Registration Statement (including each preliminary
prospectus and any summary prospectus), in conformity in all
material respects with the applicable requirements of the
Securities Act and the Trust Indenture Act and the rules and
regulations of the Commission thereunder, and such other documents,
as such Electing Holder, agent, if any, and underwriter, if any,
may reasonably request in order to facilitate the offering and
disposition of the Registrable Securities owned by such Electing
Holder, offered or sold by such agent or underwritten by such
underwriter and to permit such Electing Holder, agent and
underwriter to satisfy the prospectus delivery requirements of the
Securities Act; and the Company hereby consents to the use of such
prospectus (including such preliminary and summary prospectus) and
any amendment or supplement thereto by each such Electing Holder
and by any such agent and underwriter, in each case in the form
most recently provided to such person by the Company, in connection
with the offering and sale of the Registrable Securities covered by
the prospectus (including such preliminary and summary prospectus)
or any supplement or amendment thereto;
(xii)
use
its reasonable best efforts to (A) register or qualify the
Registrable Securities to be included in such Shelf Registration
Statement under such securities
11
laws
or blue sky laws of such jurisdictions as any Electing Holder and
each placement or sales agent, if any, therefor and underwriter, if
any, thereof shall reasonably request, (B) keep such
registrations or qualifications in effect and comply with such laws
so as to permit the continuance of offers, sales and dealings
therein in such jurisdictions during the period the Shelf
Registration is required to remain effective under
Section 2(b) above and for so long as may be necessary to
enable any such Electing Holder, agent or underwriter to complete
its distribution of Securities pursuant to such Shelf Registration
Statement (so long as such distribution is commenced during the
period during which the Shelf Registration Statement is required to
remain effective pursuant to Section 2(b)) and (C) take
any and all other actions as may be reasonably necessary or
advisable to enable each such Electing Holder, agent, if any, and
underwriter, if any, to consummate the disposition in such
jurisdict