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EXHIBIT 4.2
REGISTRATION RIGHTS AGREEMENT
dated as of December 15, 2006
between
BECKMAN COULTER, INC.
and
MORGAN STANLEY & CO. INCORPORATED,
as representative of the Initial Purchasers
REGISTRATION RIGHTS AGREEMENT dated as of
December 15, 2006 between Beckman Coulter, Inc., a Delaware
corporation (the " Company "), and Morgan Stanley &
Co. Incorporated, as representative of the several initial
purchasers listed on Schedule I (the " Initial
Purchasers ") to the Purchase Agreement dated as of
December 11, 2006 (the " Purchase Agreement ") with the
Company. In order to induce the Initial Purchasers to enter into
the Purchase Agreement, the Company has agreed to provide the
registration rights set forth in this Agreement. The execution of
this Agreement is a condition to the closing under the Purchase
Agreement.
The Company agrees with the Initial Purchasers, (i) for
their benefit as Initial Purchasers and (ii) for the benefit
of the owners (including the Initial Purchasers) from time to time
of the Securities (as defined herein) and the owners from time to
time of the Underlying Common Stock (as defined herein) issued upon
conversion of the Securities (each of the foregoing a "
Holder " and together the " Holders "), as
follows:
Section 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 terms shall have the following meanings:
" Additional Filing Deadline " has the meaning set forth
in Section 2(f)(v) hereof.
" Additional Interest " has the meaning set forth in
Section 2(f) hereof.
" Affiliate " means with respect to any specified person,
an "affiliate," as defined in Rule 144, of such person.
" Amendment Effectiveness Deadline " has the meaning set
forth in Section 2(e) hereof.
" Automatic Shelf Registration Statement " has the
meaning ascribed to it in Rule 405.
" Base Indenture " means the Senior Indenture, dated as
of April 25, 2001, between the Company and the Trustee.
" Business Day " means any day, except a Saturday, Sunday
or legal holiday on which banking institutions in The City of New
York are authorized or obligated by law or executive order to
close.
" Common Stock " means the shares of common stock, par
value $0.10 per share, of the Company, and any other shares of
common stock as may constitute "Common Stock" for purposes of the
Indenture, including the Underlying Common Stock.
" Conversion Price " has the meaning
assigned such term in the Indenture.
" Deferral Notice " has the meaning set forth in
Section 3(h) hereof.
" Deferral Period " has the meaning set forth in
Section 3(h) hereof.
" Effectiveness Deadline " has the meaning set forth in
Section 2(a) hereof.
" Effectiveness Period " means the period commencing on
the first date that a Shelf Registration Statement is declared
effective under the Securities Act hereof and ending on the date
that all Securities and the Underlying Common Stock have ceased to
be Registrable Securities.
" Exchange Act " means the Securities Exchange Act of
1934, as amended, and the rules and regulations of the SEC
promulgated thereunder.
" Free Writing Prospectus " has the meaning set forth in
Rule 405.
" Filing Deadline " has the meaning set forth in
Section 2(a) hereof.
" Holder " has the meaning set forth in the second
paragraph of this Agreement.
" Indenture " means the Base Indenture, as supplemented,
modified and amended by the Supplemental Indenture.
" Initial Purchasers " means the Initial Purchasers named
in Schedule I to the Purchase Agreement.
" Interest Payment Date " means each December 15 and
June 15 of each year.
" Issue Date " means the first date of original issuance
of the Securities.
" Issuer Free Writing Prospectus " has the meaning set
forth in Rule 433.
" Material Event " has the meaning set forth in
Section 3(h) hereof.
" Notice and Questionnaire " means a written notice
delivered to the Company containing substantially the information
called for by the Selling Securityholder Notice and Questionnaire
attached as Annex A to the Offering Memorandum of the Company
dated as of December 11, 2006 relating to the Securities.
" Notice Holder " means, on any date, any Holder that has
delivered a Notice and Questionnaire to the Company on or prior to
such date.
" Purchase Agreement " has the meaning set forth in the
preamble hereof.
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" Prospectus " means a prospectus relating
to a Shelf Registration Statement, as amended or supplemented, and
all materials incorporated by reference in such
Prospectus.
" Record Holder " means with respect to any Interest
Payment Date relating to any Securities or Underlying Common Stock
as to which any Additional Interest has accrued, the registered
holder of such Security on the fifteenth day immediately preceding
the Interest Payment Date.
" Registrable Securities " means the Securities until
such Securities have been converted into or exchanged for the
Underlying Common Stock and, at all times subsequent to any such
conversion, the Underlying Common Stock and any securities into or
for which such Underlying Common Stock has been converted or
exchanged, and any security issued with respect thereto upon any
stock dividend, split or similar event until, in the case of any
such security, the earlier of (1) the second anniversary of
the Issue Date, (2) its effective registration under the
Securities Act and resale in accordance with a Shelf Registration
Statement, (3) expiration of the holding period that would be
applicable thereto under Rule 144(k) or (4) its sale to the
public pursuant to Rule 144 (or any similar provision then in
force, but not Rule 144A) under the Securities Act, and as a result
of the event or circumstance described in any of the foregoing
clauses (1) through (4), the legend with respect to transfer
restrictions required under the Indenture is removed or removable
in accordance with the terms of the Indenture or such legend, as
the case may be.
" Registration Default " has the meaning set forth in
Section 2(f) hereof.
" Registration Default Period " has the meaning set forth
in Section 2(f) hereof.
" Rule 144 " means Rule 144 under the Securities Act, as
such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC.
" Rule 144A " means Rule 144A under the Securities Act,
as such Rule may be amended from time to time, or any similar rule
or regulation hereafter adopted by the SEC.
" Rule 405 " means Rule 405 under the Securities Act, as
such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC.
"Rule 424 " means Rule 424 under the Securities Act, as
such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC.
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"Rule 433 " means Rule 433 under the
Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the
SEC.
" SEC " means the Securities and Exchange Commission.
" Securities " means the 2.50% Convertible Senior Notes
Due 2036 of the Company to be purchased pursuant to the Purchase
Agreement, including any Securities purchased by the Initial
Purchasers upon exercise of their over-allotment option to purchase
additional Securities pursuant to the Purchase Agreement.
" Securities Act " means the Securities Act of 1933, as
amended, and the rules and regulations promulgated by the SEC
thereunder.
" Shelf Registration Statement " has the meaning set
forth in Section 2(a) hereof, including amendments to such
registration statement, all exhibits to such registration statement
and all materials incorporated by reference in such registration
statement.
" Special Counsel " means Davis Polk & Wardwell
or one such other successor counsel as shall be specified by the
Holders of a majority of the Registrable Securities, but which may,
with the written consent of the Initial Purchasers (which shall not
be unreasonably withheld), be another nationally recognized law
firm experienced in securities law matters designated by the
Company. For purposes of determining Holders of a majority of the
Registrable Securities in this definition, Holders of Securities
shall be deemed to be the Holders of the number of shares of
Underlying Common Stock into which such Securities are or would be
convertible as of the date the consent is requested.
" Supplemental Indenture " means the Second Supplemental
Indenture, dated as of December 15, 2006, between the Company
and the Trustee, providing for the terms of the Securities.
" Trustee " means Wells Fargo Bank, National
Association., the successor trustee under the Indenture.
" Underlying Common Stock " means the Common Stock into
which the Securities are convertible or issued upon any such
conversion.
Section 2 . Shelf Registration. (a) The Company
shall prepare and file or cause to be prepared and filed with the
SEC no later than the date (the " Filing Deadline ") that is
270 days after the Issue Date, a registration statement for an
offering to be made on a delayed or continuous basis pursuant to
Rule 415 of the Securities Act registering the resale from time to
time by Holders of the Registrable Securities (a " Shelf
Registration Statement "). The Shelf Registration Statement
shall be on any appropriate form permitting registration of
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the Registrable Securities for resale by the
Holders. Each Shelf Registration Statement that is filed on Form
S-3 shall be designated by the Company as an Automatic Shelf
Registration Statement but only if the Company is then eligible to
file an Automatic Shelf Registration Statement on Form S-3 for the
purposes contemplated by this Agreement. If the Company is eligible
pursuant to Rule 430B(b) to omit from the related Prospectus the
identities of selling securityholders and the amounts of securities
to be registered on their behalf, the Company shall prepare and
file each Shelf Registration Statement in a manner as to permit
such omission and to allow for the subsequent filing of such
information in a Prospectus pursuant to Rule 424(b) in the manner
contemplated by Rule 430B(d). The Company shall use its reasonable
efforts to cause a Shelf Registration Statement to be declared
effective under the Securities Act no later than the date (the "
Effectiveness Deadline ") that is 300 days after the Issue
Date, and, subject to the provisions hereof, to keep a Shelf
Registration Statement continuously effective under the Securities
Act until the expiration of the Effectiveness Period. Each Holder
that became a Notice Holder within 20 days of receiving notice from
the Company pursuant to Section 3(c) below of the
Company’s intention to file the Shelf Registration Statement
shall be named as a selling securityholder in the initial Shelf
Registration Statement and the related Prospectus in such a manner
as to permit such Holder to deliver the Prospectus to purchasers of
Registrable Securities in accordance with applicable law. None of
the Company’s security holders (other than the Holders) shall
have the right to include any of the Company’s securities in
a Shelf Registration Statement.
(b) If a Shelf Registration Statement covering resales of the
Registrable Securities ceases to be effective for any reason at any
time during the Effectiveness Period (other than because all
securities registered thereunder shall have been resold pursuant
thereto or shall have otherwise ceased to be Registrable
Securities), or if such Shelf Registration Statement constituted an
Automatic Shelf Registration Statement at the time it was filed
with the SEC and ceases to constitute an Automatic Shelf
Registration Statement, the Company shall use its reasonable
efforts to obtain the prompt withdrawal of any order suspending the
effectiveness thereof, and, subject to the provisions of this
Agreement, in any event shall within 30 days of such cessation of
effectiveness amend the Shelf Registration Statement in a manner
reasonably expected to obtain the withdrawal of the order
suspending the effectiveness thereof, or file an additional Shelf
Registration Statement so that all Registrable Securities
outstanding as of the date of such filing are covered by a Shelf
Registration Statement. If a new Shelf Registration Statement is
filed, the Company shall use its reasonable efforts to cause the
new Shelf Registration Statement to become effective as promptly as
is practicable after such filing and to keep the new Shelf
Registration Statement continuously effective until the end of the
Effectiveness Period, subject to the provisions of this
Agreement.
(c) The Company shall amend and supplement the Prospectus and
amend the Shelf Registration Statement if required by the rules,
regulations or
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instructions applicable to the registration form
used by the Company for such Shelf Registration Statement or file a
new Shelf Registration Statement, if required by the Securities
Act, or any other documents necessary to name a Notice Holder as a
selling securityholder pursuant to Section 2(e)
below.
(d) The Company agrees that, unless it obtains the prior consent
of the Holders of a majority of the Registrable Securities that are
registered under the Shelf Registration Statement at such time or
the consent of the managing underwriters in connection with any
underwritten offering of Registrable Securities, and each Holder
agrees that, unless it obtains the prior written consent of the
Company and any such underwriters, it will not make any offer
relating to the Securities that would (i) constitute an Issuer
Free Writing Prospectus, or (ii) that would otherwise
constitute a Free Writing Prospectus required to be filed with the
SEC. The Company represents that any Issuer Free Writing Prospectus
prepared by it or authorized by it in writing for use by such
Holder will not include any information that conflicts with the
information contained in the Shelf Registration Statement or the
Prospectus and, any such Issuer Free Writing Prospectus, when taken
together with the information in the Shelf Registration Statement
and the Prospectus, will not include any untrue statement of a
material fact or omit to state any material fact necessary in order
to make the statements therein, in light of the circumstances under
which they were made, not misleading.
(e) Subject to the Company’s rights to suspend the use of
the Shelf Registration Statement or the Prospectus as provided
herein, each Holder may sell Registrable Securities pursuant to a
Shelf Registration Statement and related Prospectus only in
accordance with this Section 2(e) and Section 3(h). Each
Holder wishing to sell Registrable Securities pursuant to a Shelf
Registration Statement and related Prospectus shall deliver a
Notice and Questionnaire to the Company prior to any intended
distribution of Registrable Securities under the Shelf Registration
Statement. From and after the date the initial Shelf Registration
Statement is declared effective, the Company shall, as promptly as
practicable after the date a Notice and Questionnaire is delivered,
and in any event upon the later of (x) 15 Business Days after
such date or (y) five Business Days after the expiration of
any Deferral Period in effect when the Notice and Questionnaire is
delivered or put into effect within 15 Business Days of such
delivery date:
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(i) subject to the Company’s rights to suspend the
use of the Shelf Registration Statement or the Prospectus as
provided herein, if required by applicable law, file with the SEC a
post-effective amendment to the Shelf Registration Statement or
prepare and, if required by applicable law, file a supplement to
the related Prospectus or a supplement or amendment to any document
incorporated therein by reference or file a new Shelf Registration
Statement or any other required document so that the Holder
delivering such Notice and Questionnaire is named as a selling
securityholder in a Shelf Registration Statement and the related
Prospectus
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in such a manner as to permit such Holder to
deliver such Prospectus to purchasers of the Registrable Securities
in accordance with applicable law and, if the Company shall file a
post-effective amendment to a Shelf Registration Statement or shall
file a new Shelf Registration Statement, the Company shall use its
reasonable efforts to cause such post-effective amendment or new
Shelf Registration Statement to be declared effective under the
Securities Act as promptly as is practicable, but in any event by
the date (the " Amendment Effectiveness Deadline ") that is
45 days after the date such post-effective amendment or new Shelf
Registration Statement is required by this clause to be
filed;
(ii) provide such Holder copies of any documents filed
pursuant to Section 2(e)(i); and
(iii) notify such Holder as promptly as practicable after
the effectiveness under the Securities Act of any new Shelf
Registration Statement or post-effective amendment filed pursuant
to Section 2(e)(i);
provided that if such Notice and Questionnaire is
delivered during a Deferral Period, the Company shall so inform the
Holder delivering such Notice and Questionnaire and shall take the
actions set forth in clauses (i), (ii) and (iii) above
upon expiration of the Deferral Period in accordance with
Section 3(h). Notwithstanding anything contained herein to the
contrary, (i) the Company shall be under no obligation to name
any Holder that is not a Notice Holder as a selling securityholder
in any Shelf Registration Statement or related Prospectus,
(ii) the Amendment Effectiveness Deadline shall be further
extended by up to an additional ten Business Days from the
expiration of a Deferral Period, and (iii) the Company shall
not be under any obligation to file more than one prospectus
supplement or post-effective amendment to a Shelf Registration
Statement in any calendar quarter or file a new Shelf Registration
Statement if the existing Shelf Registration Statement was filed in
the same calendar quarter.
(f) The parties hereto agree that the Holders of Registrable
Securities will suffer damages, and that it would not be feasible
to ascertain the extent of such damages with precision, if:
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(i) a Shelf Registration Statement has not been filed on
or prior to the Filing Deadline,
(ii) a Shelf Registration Statement has not been declared
effective under the Securities Act on or prior to the Effectiveness
Deadline,
(iii) the Company has failed to perform its obligations
set forth in Section 2(e)(i) within the time period required
by Section 2(e),
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(iv) a new Shelf Registration Statement
or a post-effective amendment to a Shelf Registration Statement
filed pursuant to Section 2(e)(i) has not become effective
under the Securities Act on or prior to the Amendment Effectiveness
Deadline as it may be extended pursuant to
Section 2(e),
(v) a supplement to a Prospectus is required to be filed
with the SEC pursuant to Section 2(e)(i) and fails to be filed
with the SEC within the prescribed period and in the manner set
forth in Section 2(e) above (a date such filing is required to
be made, an " Additional Filing Deadline "),
(vi) the aggregate duration of Deferral Periods in any
period exceeds the number of days permitted in respect of such
period pursuant to Section 3(h) hereof, or
(vii) the number of Deferral Periods in any period
exceeds the number permitted in respect of such period pursuant to
Section 3(h) hereof.
Each event described in any of the foregoing clauses
(i) through (vii) is individually referred to herein as a
" Registration Default ." For purposes of this Agreement,
each Registration Default set forth above shall begin and end on
the dates set forth in the table set forth below:
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Type of
Registration
Default by
Clause
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Beginning Date
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Ending Date
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(i)
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Filing Deadline
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the date a Shelf Registration Statement is
filed
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(ii)
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Effectiveness Deadline
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the date a Shelf Registration Statement becomes
effective under the Securities Act
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(iii)
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the date by which the Company is required to
perform its obligations under Section 2(e)(i)
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the date the Company performs its obligations set
forth in Section 2(e)(i)
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(iv)
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the Amendment Effectiveness Deadline
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the date the applicable post-effective amendment
to a Shelf Registration Statement or a new Shelf Registration
Statement becomes effective under the Securities Act
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Type of
Registration
Default by
Clause
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Beginning Date
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Ending Date
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(v)
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the Additional Filing Deadline
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the date the applicable supplement to a
Prospectus is filed with the SEC in the manner set forth in Section
2(e)
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(vi)
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the date on which the aggregate duration of
Deferral Periods in any period exceeds the number of days permitted
by Section 3(h)
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termination of the Deferral Period that caused
the limit on the aggregate duration of Deferral Periods to be
exceeded
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(vii)
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the date of commencement of a Deferral Period
that causes the number of Deferral Periods to exceed the number
permitted by Section 3(h)
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termination of the Deferral Period that caused
the number of Deferral Periods to exceed the number permitted by
Section 3(h)
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For purposes of this Agreement, Registration
Defaults shall begin on the dates set forth in the table above and
shall continue until the ending dates set forth in the table
above.
Commencing on (and including) any date that a Registration
Default has begun and ending on (but excluding) the next date on
which there are no Registration Defaults that have occurred and are
continuing (a " Registration Default Period "), the Company
shall pay to Record Holders of Registrable Securities in respect of
each day in the Registration Default Period, additional interest in
respect of any Security, at a rate per annum equal to 0.25% of the
aggregate principal amount of such Security for the first
90 days of such Registration Default and a rate per annum
equal to 0.50% of the aggregate principal amount of such Security
thereafter (the " Additional Interest "); provided
that in no event shall Additional Interest accrue at a rate per
annum in excess of 0.50% of the aggregate principal amount of such
Security accrue after the second anniversary of the Issue Date;
provided , further , that in the case of a
Registration Default Period that is in effect solely as a result of
a Registration Default of the type described in clause (iii),
(iv) or (v) of the preceding paragraph, such Additional
Interest Amount shall be paid only to the Holders (as set forth in
the succeeding paragraph) that have delivered Notices and
Questionnaires that caused the Company to incur the obligations set
forth in Section 2(e) the non-performance of which is the
basis of such Registration Default. Notwithstanding the foregoing,
no Additional Interest shall accrue as to any Registrable Security
from and after the date such security is no longer a Registrable
Security. The rate of accrual of the Additional Interest with
respect to any period shall not exceed the rate provided for in
this paragraph notwithstanding the occurrence of multiple
concurrent Registration Defaults.
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The Additional Interest shall accrue from the
first day of the applicable Registration Default Period, and shall
be payable on each Interest Payment Date during the Registration
Default Period (and on the Interest Payment Date next succeeding
the end of the Registration Default Period if the Registration
Default Period does not end on a Interest Payment Date) to the
Record Holders of the Registrable Securities entitled thereto;
provided that any Additional Interest accrued with respect
to any Security or portion thereof redeemed by the Company on a
redemption date, purchased by the Company on a repurchase date or
converted into Underlying Common Stock on a conversion date prior
to the Interest Payment Date, shall, in any such event, be paid
instead to the Holder who submitted such Security or portion
thereof for redemption, purchase or conversion on the applicable
redemption date, repurchase date or conversion date, as the case
may be, on such date (or promptly following the conversion date, in
the case of conversion), unless the redemption date or the
repurchase date, as the case may be, falls after the 15
th day
immediately preceding the Interest Payment Date and on or prior to
the corresponding Interest Payment Date; and provided
further , that, in the case of a Registration Default of the
type described in clause (iii), (iv) or (v) of the first
paragraph of this Section 2(f) such Additional Interest shall
be paid only to the Holders entitled thereto by check mailed to the
address set forth in the Notice and Questionnaire delivered by such
Holder. The Trustee shall be entitled, on behalf of registered
holders of Securities, to seek any available remedy for the
enforcement of this Agreement, including for the payment of such
Additional Interest. Notwithstanding the foregoing, the parties
agree that the sole damages payable for a violation of the terms of
this Agreement with respect to which Additional Interest are
expressly provided shall be such Additional Interest. Nothing shall
preclude any Holder from pursuing or obtaining specific performance
or other equitable relief with respect to this
Agreement.
All of the Company’s obligations set forth in this
Section 2(f) that are outstanding with respect to any
Registrable Security at the time such security ceases to be a
Registrable Security shall survive until such time as all such
obligations with respect to such security have been satisfied in
full (notwithstanding termination of this Agreement pursuant to
Section 8(k)).
The parties hereto agree that the Additional Interest provided
for in this Section 2(f) constitutes a reasonable estimate of
the damages that may be incurred by Holders of Registrable
Securities by reason of the failure of a Shelf Registration
Statement to be filed or declared effective or available for
effecting resales of Registrable Securities in accordance with the
provisions hereof.
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Section 3 . Registration Procedures.
In connection with the registration obligations of the Company
under Section 2 hereof, the Company shall:
(a) Before filing any Shelf Registration Statement or Prospectus
or any amendments or supplements thereto with the SEC, furnish to
the Initial Purchasers and the Special Counsel of such offering, if
any, copies of all such documents proposed to be filed at least
three Business Days prior to the filing of such Shelf Registration
Statement or amendment thereto or Prospectus or supplement
thereto.
(b) Subject to Section 3(h) prepare and file with the SEC
such amendments and post-effective amendments to each Shelf
Registration Statement as may be necessary to keep such Shelf
Registration Statement continuously
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