REGISTRATION RIGHTS
AGREEMENT
Republic Services, Inc.,
the Guarantors Named Herein
Banc of America Securities
LLC
Barclays Capital Inc.
J.P. Morgan Securities Inc.
and the other Initial Purchasers named herein
Dated as of September 8,
2009
REGISTRATION RIGHTS
AGREEMENT
This Registration
Rights Agreement (this “Agreement”) is made and entered
into as of September 8, 2009, by and among Republic Services, Inc.,
a Delaware corporation (the “Company”), the guarantors
listed on Schedule A hereto (collectively, the
“Guarantors”), and Banc of America Securities LLC,
Barclays Capital Inc., J.P. Morgan Securities Inc., BNP Paribas
Securities Corp., Mitsubishi UFJ Securities (USA), Inc., RBS
Securities Inc., Scotia Capital (USA) Inc., and Wells Fargo
Securities, LLC (collectively, the “Initial
Purchasers”), each of whom has agreed to purchase the
Company’s 5.500% Notes due 2019 (the “Notes”)
fully and unconditionally guaranteed by the Guarantors (the
“Guarantees”) pursuant to the Purchase Agreement (as
defined below). The Notes and the Guarantees are herein
collectively referred to as the
“Securities.”
This Agreement is
made pursuant to the Purchase Agreement, dated August 31, 2009
(the “Purchase Agreement”), among the Company, the
Guarantors and the Initial Purchasers (i) for the benefit of
the Initial Purchasers and (ii) for the benefit of the holders
from time to time of Transfer Restricted Securities, including the
Initial Purchasers. In order to induce the Initial Purchasers to
purchase the Securities, the Company has agreed to provide the
registration rights set forth in this Agreement. The execution and
delivery of this Agreement is a condition to the obligations of the
Initial Purchasers set forth in Section 5(g) of the Purchase
Agreement.
The parties hereby
agree as follows:
SECTION
1. Definitions . As used in this Agreement, the following
capitalized terms shall have the following meanings:
Additional
Interest: As defined in Section 5 hereof.
Advice: As
defined in Section 6(c) hereof.
Agreement: As
defined in the preamble hereto.
Broker-Dealer: Any broker or dealer registered under the
Exchange Act.
Business
Day: Any day other than a Saturday, Sunday or U.S. federal
holiday or a day on which banking institutions or trust companies
located in The City of New York, New York are authorized or
obligated to be closed.
Closing
Date: The date of this Agreement.
Commission: The U.S. Securities and Exchange
Commission.
Consummate: A registered Exchange Offer shall be deemed
“Consummated” for purposes of this Agreement upon the
occurrence of (i) the filing and effectiveness under the
Securities Act of the Exchange Offer Registration Statement
relating to the Exchange Securities to be issued in the Exchange
Offer, (ii) the maintenance of such Registration
Statement
continuously
effective and the keeping of the Exchange Offer open for a period
not less than the minimum period required pursuant to Section 3(b)
hereof, and (iii) the delivery by the Company to the registrar
under the Indenture of Exchange Securities in the same aggregate
principal amount as the aggregate principal amount of the Transfer
Restricted Securities that were tendered by Holders thereof
pursuant to the Exchange Offer.
Exchange
Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.
Exchange
Date: As defined in Section 3(a) hereto.
Exchange
Offer: The registration by the Company and the Guarantors under
the Securities Act of the Exchange Securities pursuant to a
Registration Statement pursuant to which the Company and the
Guarantors offer the Holders of all outstanding Transfer Restricted
Securities the opportunity to exchange all such outstanding
Transfer Restricted Securities held by such Holders for Exchange
Securities in an aggregate principal amount equal to the aggregate
principal amount of the Transfer Restricted Securities tendered in
such exchange offer by such Holders.
Exchange Offer
Registration Statement: The Registration Statement relating to
the Exchange Offer, including the related Prospectus.
Exchange
Securities: The 5.500% Notes due 2019 (and related Guarantees),
of the same series under the Indenture as the Securities, to be
issued to Holders in exchange for Transfer Restricted Securities
pursuant to this Agreement.
FINRA:
Financial Industry Regulatory Authority, Inc.
Holders:
As defined in Section 2(b) hereof.
Indemnified
Holder: As defined in Section 8(a) hereof.
Indenture:
The Indenture dated as of September 8, 2009 among the Company,
the guarantors named therein and The Bank of New York Mellon, N.A.,
as trustee, as supplemented by the First Supplemental Indenture to
be dated as of September 8, 2009, pursuant to which the
Securities are to be issued, as such Indenture is amended or
supplemented from time to time in accordance with the terms
thereof.
Initial
Placement: The issuance and sale by the Company of the
Securities to the Initial Purchasers pursuant to the Purchase
Agreement.
Initial
Purchasers: As defined in the preamble hereto.
Person: An
individual, partnership, corporation, limited liability company,
trust or unincorporated organization, or a government or agency or
political subdivision thereof or other similar entity.
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Prospectus: The prospectus included in a Registration
Statement, as amended or supplemented by any prospectus supplement
and by all other amendments thereto, including post-effective
amendments, and all material incorporated by reference into such
Prospectus.
Registration
Default: As defined in Section 5 hereof.
Registration
Statement: Any registration statement of the Company and the
Guarantors relating to (a) an offering of Exchange Securities
pursuant to an Exchange Offer or (b) the registration for
resale of Transfer Restricted Securities pursuant to the Shelf
Registration Statement, which is filed pursuant to the provisions
of this Agreement, in each case, including the Prospectus included
therein, all amendments and supplements thereto (including
post-effective amendments) and all exhibits and material
incorporated by reference therein.
Securities: As defined in the preamble hereto.
Securities
Act: The Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.
Shelf Filing
Deadline: As defined in Section 4(a) hereof.
Shelf
Registration Statement: As defined in Section 4(a)
hereof.
Transfer
Restricted Securities: Each Security, until the earliest to
occur of (i) the date on which such Security is exchanged in
the Exchange Offer for an Exchange Security entitled to be resold
to the public by the holder thereof without complying with the
prospectus delivery requirements of the Securities Act,
(ii) the date on which such Security has been effectively
registered under the Securities Act and in accordance with a Shelf
Registration Statement and such Securities have been exchanged or
disposed of pursuant to a Shelf Registration Statement,
(iii) the date on which such Security ceases to be
outstanding, (iv) the date on which such Security is
distributed to the public pursuant to Rule 144 under the
Securities Act, or (v) following the exchange by a
Broker-Dealer in the Exchange Offer of a Transfer Restricted
Security for an Exchange Security, the date on which such Exchange
Security is disposed of by a Broker-Dealer pursuant to the
“Plan of Distribution” contemplated by the Exchange
Offer Registration Statement (including the delivery of the
Prospectus contained therein).
Trust
Indenture Act: The Trust Indenture Act of 1939, as amended, and
the rules and regulations promulgated thereunder.
Underwritten
Registration or Underwritten Offering: A registration in which
securities of the Company are sold to an underwriter for reoffering
to the public.
SECTION
2. Securities Subject to this Agreement .
(a)
Transfer Restricted Securities . The securities entitled to
the benefits of this Agreement are the Transfer Restricted
Securities .
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(b)
Holders of Transfer Restricted Securities . A Person is
deemed to be a holder of Transfer Restricted Securities (each, a
“Holder”) whenever such Person owns Transfer Restricted
Securities.
SECTION
3. Registered Exchange Offer .
(a) Unless
the Exchange Offer shall not be permissible under applicable law or
Commission policy (after the procedures set forth in Section 6(a)
hereof have been complied with), or there are no Transfer
Restricted Securities outstanding, each of the Company and the
Guarantors shall use its reasonable best efforts to (i) cause
to be filed with the Commission, a Registration Statement under the
Securities Act relating to the Exchange Securities and the Exchange
Offer, (ii) cause such Registration Statement to become
effective, (iii) in connection with the foregoing, file (A)
all pre-effective amendments to such Registration Statement as may
be necessary in order to cause such Registration Statement to
become effective, (B) if applicable, a post-effective
amendment to such Registration Statement pursuant to Rule 430B
under the Securities Act and (C) cause all necessary filings
in connection with the registration and qualification of the
Exchange Securities to be made under the state securities or blue
sky laws of such jurisdictions as are necessary to permit
Consummation of the Exchange Offer, and (iv) upon the
effectiveness of such Registration Statement, commence the Exchange
Offer. Each of the Company and the Guarantors shall use its
reasonable best efforts to Consummate the Exchange Offer not later
than 365 days following the Closing Date (or if such 365th day
is not a Business Day, the next succeeding Business Day) (the
“Exchange Date”). The Exchange Offer shall be on the
appropriate form permitting registration of the Exchange Securities
to be offered in exchange for the Transfer Restricted Securities
and to permit resales of Transfer Restricted Securities held by
Broker-Dealers as contemplated by Section 3(c) hereof.
(b) If an
Exchange Offer Registration Statement is declared effective
pursuant to Section 3(a) above, the Company and the Guarantors
shall cause the Exchange Offer Registration Statement to be
effective continuously and shall keep the Exchange Offer open for a
period of not less than the minimum period required under
applicable federal and state securities laws to Consummate the
Exchange Offer; provided, however, that in no event shall such
period be less than 20 Business Days after the date notice of the
Exchange Offer is mailed to the Holders. The Company shall cause
the Exchange Offer to comply with all applicable federal and state
securities laws. No securities other than the Exchange Securities
shall be included in the Exchange Offer Registration Statement. The
Company shall use its reasonable best efforts to cause the Exchange
Offer to be Consummated by the Exchange Date.
(c) The
Company shall indicate in a “Plan of Distribution”
section contained in the Prospectus forming a part of the Exchange
Offer Registration Statement that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for its own
account as a result of market-making activities or other trading
activities (other than Transfer Restricted Securities acquired
directly from the Company), may exchange such Transfer Restricted
Securities pursuant to the Exchange Offer; however, such
Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore,
deliver a prospectus meeting the requirements of the Securities Act
in connection with any resales of the Exchange Securities received
by such Broker-Dealer in the Exchange Offer, which prospectus
delivery
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requirement may
be satisfied by the delivery by such Broker-Dealer of the
Prospectus contained in the Exchange Offer Registration Statement.
Such “Plan of Distribution” section shall also contain
all other information with respect to such resales by any
Broker-Dealers that the Commission may require in order to permit
such resales pursuant thereto, but such “Plan of
Distribution” shall not name any such Broker-Dealer or
disclose the amount of Transfer Restricted Securities held by any
such Broker-Dealer except to the extent required by the Commission
as a result of a change in policy after the date of this
Agreement.
In the event the
Company receives notice from one or more Broker-Dealers in
connection with the Exchange Offer or within 20 days after the
consummation of the Exchange Offer that such Broker-Dealer is
exchanging or has exchanged Transfer Restricted Securities acquired
for the account of such Broker-Dealer as a result of market making
or other trading activities, then each of the Company and the
Guarantors shall use its reasonable best efforts to keep the
Exchange Offer Registration Statement continuously effective,
supplemented and amended as required by the provisions of Section
6(c) hereof to the extent necessary to ensure that it is available
for resales of Transfer Restricted Securities acquired by any
Broker-Dealers for their own accounts as a result of market-making
activities or other trading activities, and to ensure that it
conforms with the requirements of this Agreement, the Securities
Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period ending on the earlier of
(i) 180 days from the date on which the Exchange Offer
Registration Statement is declared effective and (ii) the date
on which a Broker-Dealer is no longer required to deliver a
prospectus in connection with market-making or other trading
activities.
The Company shall
provide sufficient copies of the latest version of such Prospectus
to all Broker-Dealers promptly upon request at any time during such
180-day (or shorter as provided in the foregoing sentence) period
in order to facilitate such resales.
SECTION
4. Shelf Registration.
(a) Shelf
Registration . If (i) the Company and the Guarantors are
not required to file the Exchange Offer Registration Statement or
to consummate the Exchange Offer solely because the Exchange Offer
is not permitted by applicable law or Commission policy (after the
procedures set forth in Section 6(a) hereof have been complied
with), (ii) for any reason the Exchange Offer is not
Consummated by the Exchange Date, or (iii) prior to the
Exchange Date: (A) the Initial Purchasers request from the
Company with respect to Transfer Restricted Securities not eligible
to be exchanged for Exchange Securities in the Exchange Offer,
(B) with respect to any Holder of Transfer Restricted
Securities such Holder notifies the Company that (i) such
Holder is prohibited by applicable law or Commission policy from
participating in the Exchange Offer, (ii) such Holder may not
resell the Exchange Securities acquired by it in the Exchange Offer
to the public without delivering a prospectus and that the
Prospectus contained in the Exchange Offer Registration Statement
is not appropriate or available for such resales by such Holder, or
(iii) such Holder is a Broker-Dealer and holds Transfer
Restricted Securities acquired directly from the Company or one of
its affiliates or (C) in the case of any Initial Purchaser,
such Initial Purchaser notifies the Company it will not receive
freely tradable
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Exchange
Securities in exchange for Transfer Restricted Securities
constituting any portion of such Initial Purchaser’s unsold
allotment, then the Company and the Guarantors shall:
(x) use their
reasonable best efforts to cause to be filed a shelf registration
statement pursuant to Rule 415 under the Securities Act, which
may be an amendment to the Exchange Offer Registration Statement
(in either event, the “Shelf Registration Statement”)
on or prior to the 60th day after the date such obligation arises
but no earlier than the 300th day after the Closing Date (or if
such day is not a Business Day, the next succeeding Business Day)
(such date being the “Shelf Filing Deadline”), which
Shelf Registration Statement shall provide for resales of all
Transfer Restricted Securities the Holders of which shall have
provided the information required pursuant to Section 4(b) hereof;
and
(y) use their
reasonable best efforts to cause such Shelf Registration Statement
to be declared effective by the Commission on or prior to the 120th
day after the date such obligation arises but no earlier than the
365 th
day after the Closing Date (or if
such day is not a Business Day, the next succeeding Business Day)
(such date being the “Shelf Effectiveness
Deadline”).
Each of the
Company and the Guarantors shall use its reasonable best efforts to
keep such Shelf Registration Statement continuously effective,
supplemented and amended as required by the provisions of Sections
6(b) and (c) hereof to the extent necessary to ensure that it
is available for resales of Transfer Restricted Securities by the
Holders of such Securities entitled to the benefit of this
Section 4(a), and to ensure that it conforms with the
requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from
time to time, from the date on which the Shelf Registration
Statement is declared effective by the Commission until the
expiration of the one year period referred to in Rule 144
applicable to securities held by non-affiliates under the
Securities Act (or shorter period that will terminate when all the
Transfer Restricted Securities covered by such Shelf Registration
Statement have been sold pursuant to such Shelf Registration
Statement).
(b)
Provision by Holders of Certain Information in Connection with
the Shelf Registration Statement . No Holder of Transfer
Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this
Agreement unless and until such Holder furnishes to the Company in
writing, within 20 Business Days after receipt of a request
therefor, such information as the Company may reasonably request
for use in connection with any Shelf Registration Statement or
Prospectus or preliminary Prospectus included therein. Each Holder
as to which any Shelf Registration Statement is being effected
agrees to furnish promptly to the Company all information required
to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially
misleading.
SECTION
5. Additional Interest . If either (i) the Exchange
Offer has not been Consummated by the Exchange Date, (ii) any
Shelf Registration Statement, if required hereby, has not been
filed by the Shelf Filing Deadline or declared effective by the
Commission by the
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Shelf
Effectiveness Deadline or (iii) any Registration Statement
required by this Agreement has been declared effective but ceases
to be effective at any time at which it is required to be effective
under this Agreement (each such event referred to in clauses
(i) through (iii), a “Registration Default”), the
Company hereby agrees that the interest rate borne by the Transfer
Restricted Securities shall be increased by 0.25% per annum during
the 90-day period immediately following the occurrence of any
Registration Default and shall increase by 0.25% per annum at the
end of each subsequent 90-day period (such increase,
“Additional Interest”), but in no event shall the
aggregate amount of such increases exceed 1.00% per annum.
Following the earlier of (i) the cure of all Registration
Defaults relating to the particular Transfer Restricted Securities
and (ii) the date on which such Transfer Restricted Securities
cease to be Transfer Restricted Securities, the interest rate borne
by the relevant Transfer Restricted Securities will be reduced to
the original interest rate borne by such Transfer Restricted
Securities; provided, however, that, if after any such
reduction in interest rate, a different Registration Default
occurs, the interest rate borne by the relevant Transfer Restricted
Securities shall again be increased pursuant to the foregoing
provisions. Additional Interest shall not accrue or be payable for
more than one Registration Default at any given time, and shall
accrue only for those days that a Registration Default occurs and
is continuing.
All obligations of
the Company and the Guarantors set forth in the preceding paragraph
that are outstanding with respect to any Transfer Restricted
Security at the time such security ceases to be a Transfer
Restricted Security shall survive until such time as all such
obligations with respect to such security shall have been satisfied
in full.
SECTION
6. Registration Procedures .
(a)
Exchange Offer Registration Statement . In connection with
the Exchange Offer, the Company and the Guarantors shall comply
with all of the provisions of Section 6(c) hereof, shall use their
reasonable best efforts to effect such exchange to permit the sale
of Transfer Restricted Securities being sold in accordance with the
intended method or methods of distribution thereof, and shall
comply with all of the following provisions:
(i) If in the
reasonable opinion of counsel to the Company, there is a question
as to whether the Exchange Offer is permitted by applicable law,
each of the Company and the Guarantors hereby agrees to seek a
no-action letter or other favorable decision from the Commission
allowing the Company and the Guarantors to Consummate an Exchange
Offer for such Transfer Restricted Securities. Each of the Company
and the Guarantors hereby agrees to pursue the issuance of such a
decision to the Commission staff level but shall not be required to
take commercially unreasonable action to effect a change of
Commission policy. Each of the Company and the Guarantors hereby
agrees, however, to (A) participate in telephonic conferences
with the Commission, (B) deliver to the Commission staff an
analysis prepared by counsel to the Company setting forth the legal
bases, if any, upon which such counsel has concluded that such an
Exchange Offer should be permitted and (C) diligently pursue a
favorable resolution by the Commission staff of such
submission.
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(ii) As a
condition to its participation in the Exchange Offer pursuant to
the terms of this Agreement, each Holder of Transfer Restricted
Securities shall furnish, upon the request of the Company, prior to
the Consummation thereof, a written representation to the Company
(which may be contained in the letter of transmittal contemplated
by the Exchange Offer Registration Statement) to the effect that
(A) it is not an affiliate of the Company or any Guarantor,
(B) it is not engaged in, and does not intend to engage in,
and has no arrangement or understanding with any Person to
participate in, a distribution of the Exchange Securities to be
issued in the Exchange Offer and (C) it is acquiring the
Exchange Securities in its ordinary course of business. In
addition, all such Holders of Transfer Restricted Securities shall
otherwise cooperate in the Company’s preparations for the
Exchange Offer. Each Holder hereby acknowledges and agrees that any
Broker-Dealer and any such Holder using the Exchange Offer to
participate in a distribution of the securities to be acquired in
the Exchange Offer (1) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the
Commission enunciated in Morgan Stanley & Co., Inc.
(available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in
the Commission’s letter to Shearman & Sterling dated
July 2, 1993, and similar no-action letters (which may include
any no-action letter obtained pursuant to clause (i) above),
and (2) must comply with the registration and prospectus
delivery requirements of the Securities Act in connection with a
secondary resale transaction and that such a secondary resale
transaction should 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 if the resales are of Exchange Securities
obtained by such Holder in exchange for Transfer Restricted
Securities acquired by such Holder directly from the
Company.
(b) Shelf
Registration Statement . If required pursuant to
Section 4, in connection with the Shelf Registration
Statement, each of the Company and the Guarantors shall comply with
all the provisions of Section 6(c) hereof and shall use its
reasonable best efforts to effect such registration to permit the
sale of the Transfer Restricted Securities being sold in accordance
with the intended method or methods of distribution thereof, and
pursuant thereto the Company and the Guarantors will use their
reasonable best efforts to prepare and file with the Commission a
Registration Statement relating to the registration on any
appropriate form under the Securities Act, which form shall be
available for the sale of the Transfer Restricted Securities in
accordance with the intended method or methods of distribution
thereof.
(c)
General Provisions . In connection with any Registration
Statement and any Prospectus required by this Agreement to permit
the sale or resale of Transfer Restricted Securities (including,
without limitation, any Registration Statement and the related
Prospectus required to permit resales of Transfer Restricted
Securities by any Broker-Dealers), each of the Company and the
Guarantors shall:
(i) use its
reasonable best efforts to keep such Registration Statement
continuously effective and provide all requisite financial
statements (including any consolidating footnotes with respect to
any Guarantors if required by the Securities Act) for the period
specified in Section 3 or 4 hereof, as applicable; upon the
occurrence of any event that would cause any such Registration
Statement or the Prospectus contained
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therein
(A) to contain a material misstatement or omission or
(B) not to be effective and usable for resale of Transfer
Restricted Securities during the period required by this Agreement,
the Company shall file promptly an appropriate amendment to such
Registration Statement, in the case of clause (A), correcting any
such misstatement or omission, and, in the case of either clause
(A) or (B), use its reasonable best efforts to cause such
amendment to be declared effective and such Registration Statement
and the related Prospectus to become usable for their intended
purpose(s) as soon as practicable thereafter;
(ii) prepare and
file with the Commission such amendments and post-effective
amendments to the applicable Registration Statement as may be
necessary to keep the Registration Statement effective for the
applicable period set forth in Section 3 or 4 hereof, as
applicable, or such shorter period as will terminate when all
Transfer Restricted Securities covered by such Registration
Statement have been sold; cause the Prospectus to be supplemented
by any required Prospectus supplement, and as so supplemented to be
filed pursuant to Rule 424 under the Securities Act, and to
comply fully with the applicable provisions of Rules 424, 430A
and 430B under the Securities Act in a timely manner; and comply
with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the
intended method or methods of distribution by the sellers thereof
set forth in such Registration Statement or supplement to the
Prospectus;
(iii) advise the
underwriter(s), if any, and selling Holders promptly and, if
requested by such Persons, to confirm such advice in writing,
(A) when the Prospectus or any Prospectus supplement or
post-effective amendment has been filed, and, with respect to any
Registration Statement or any post-effective amendment thereto,
when the same has become effective, (B) of any request by the
Commission for amendments to the Registration Statement or
amendments or supplements to the Prospectus or for additional
information relating thereto, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the
Registration Statement under the Securities Act or of the
suspension by any state securities commission of the qualification
of the Transfer Restricted Securities for offering or sale in any
jurisdiction, or the initiation of any proceeding for any of the
preceding purposes, and (D) of the existence of any fact or
the happening of any event that makes any statement of a material
fact made in the Registration Statement, the Prospectus, any
amendment or supplement thereto, or any document incorporated by
reference therein untrue, or that requires the making of any
additions to or changes in the Registration Statement or the
Prospectus in order to make the statements therein not misleading.
If at any time the Commission shall issue any stop order suspending
the effectiveness of the Registration Statement, or any state
securities commission or other regulatory authority shall issue an
order suspending the qualification or exemption from qualification
of the Transfer Restricted Securities under state securities or
blue sky laws, each of the Company and the Guarantors shall use its
reasonable best efforts to obtain the withdrawal or lifting of such
order at the earliest possible time;
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(iv) furnish
without charge to each of the Initial Purchasers, and at their
request, each selling Holder named in any Registration Statement,
and each of the underwriter(s), if any, before filing with the
Commission, copies of any Registration Statement or any Prospectus
included therein or any amendments or supplements to any such
Registration Statement or Prospectus (including all documents
incorporated by reference after the initial filing of such
Registration Statement), which documents will be subject to the
review and comment of such Holders and underwriter(s) in connection
with such sale, if any, for a period of at least five Business
Days, and the Company will not file any such Registration Statement
or Prospectus or any amendment or supplement to any such
Registration Statement or Prospectus (including all such documents
incorporated by reference) to which an Initial Purchaser of
Transfer Restricted Securities covered by such Registration
Statement or the underwriter(s), if any, shall reasonably object in
writing within five Business Days after the receipt thereof (such
objection to be deemed timely made upon confirmation of telecopy
transmission within such period). Notwithstanding the foregoing,
nothing herein shall prohibit the Company or any Guarantor from
filing any document pursuant to the Exchange Act so long as the
Initial Purchasers of Transfer Restricted Securities covered by
such Registration Statement and the underwriter(s), if any, have
been (x) provided with notice of the Company’s or such
Guarantor’s intention to make such filing as soon as
practicable and (y) furnished with a copy of the proposed
filing in advance of the filing thereof with the Commission. The
objection of an Initial Purchaser or underwriter, if any, shall be
deemed to be reasonable if such Registration Statement, amendment,
Prospectus or supplement, as applicable, as proposed to be filed,
contains a material misstatement or omission;
(v) in the case of
a Shelf Registration Statement, promptly prior to the filing of any
document that is to be incorporated by reference into a
Registration Statement or Prospectus, provide copies of such
document to the Initial Purchasers, and at their request, each
selling Holder named in any Registration Statement, and to the
underwriter(s), if any, make the Company’s and the
Guarantors’ representatives available for discussion of such
document and other customary due diligence matters, and include
such information in such document prior to the filing thereof as
such selling Holders or underwriter(s), if any, reasonably may
request;
(vi) make
available at reasonable times for inspection by the Initial
Purchasers, the managing underwriter(s), if any, participating in
any disposition pursuant to such Registration Statement and any
attorney or accountant retained by such Initial Purchasers or any
of the underwriter(s), all financial and other records, pertinent
corporate documents and properties of each of the Company and the
Guarantors and cause the Company’s and the Guarantors ‘
officers, directors and employees to supply all information
reasonably requested by any such Holder, underwriter, attorney or
accountant in connection with such Registration Statement or any
post-effective amendment thereto subsequent to the filing thereof
and prior to its effectiveness and to participate in meetings with
investors to the extent requested by the managing underwriter(s),
if any;
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(vii) if requested
by any selling Holders or the underwriter(s), if any, promptly
incorporate in any Registration Statement or Prospectus, pursuant
to a supplement or post-effective amendment if necessary, such
information as such selling Holders and underwriter(s), if any, may
reasonably request to have included therein, including, without
limitation, information relating to the “Plan of
Distribution” of the Transfer Restricted Securities,
information with respect to the principal amount of Transfer
Restricted Securities being sold to such underwriter(s), the
purchase price being paid therefor and any other terms of the
offering of the Transfer Restricted Securities to be sold in such
offering; and make all required filings of such Prospectus
supplement or post-effective amendment as soon as practicable after
the Company is notified of the matters to be incorporated in such
Prospectus supplement or post-effective amendment;
(viii) cause the
Transfer Restricted Securities covered by the Registration
Statement to be rated with the appropriate rating agencies, if so
requested by the Holders of a majority in aggregate principal
amount of Securities covered thereby or the underwriter(s), if
any;
(ix) furnish to
each Initial Purchaser and, at their request, each selling Holder
and each of the underwriter(s), if any, without charge, at least
one copy of the Registration Statement, as first filed with the
Commission, and of each amendment thereto, including financial
statements and schedules and all exhibits included therein
(excluding exhibits incorporated therein by reference);
(x) deliver to
each selling Holder and each of the underwriter(s), if any, without
charge, as many copies of the Prospectus (including each
preliminary prospectus) and any amendment or supplement thereto as
such Persons reasonably may request; each of the Company and the
Guarantors hereby consents to the use of the Prospectus and any
amendment or supplement thereto by each of the selling Holders and
each of the underwriter(s), if any, in connection with the offering
and the sale of the Transfer Restricted Securities covered by the
Prospectus or any amendment or supplement thereto;
(xi) enter into
such agreements (including an underwriting agreement), and make
such representations and warranties, and take all such other
actions in connection therewith in order to expedite or facilitate
the disposition of the Transfer Restricted Securities pursuant to
any Registration Statement contemplated by this Agreement, all to
such extent as may be reasonably requested by any Initial Purchaser
or by any Holder of Transfer Restricted Securities or underwriter
in connection with any sale or resale pursuant to any Registration
Statement contemplated by this Agreement; and whether or not an
underwriting agreement is entered into and whether or not the
registration is an Underwritten Registration, each of the Company
and the Guarantors shall:
(A) furnish to
each Initial Purchaser and, at their request, each selling Holder,
and each underwriter, if any, in such substance and scope as they
may reasonably request and as are customarily made by issuers to
underwriters in primary underwritten offerings, upon the date of
the Consummation of the
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Exchange Offer
or, if applicable, the effectiveness of the Shelf Registration
Statement:
(1) a certificate,
dated the date of Consummation of the Exchange Offer or the date of
effectiveness of the Shelf Registration Statement, as the case may
be, signed by (y) the President or any Vice President and
(z) a principal financial or accounting officer of each of the
Company and the Guarantors, confirming, as of the date thereof, the
matters set forth in paragraphs (i) and (ii) of Section
5(f) of the Purchase Agreement and such other matters as such
parties may reasonably request;
(2) an opinion,
dated the date of Consummation of the Exchange Offer or the date of
effectiveness of the Shelf Registration Statement, as the case may
be, of counsel for the Company and the Guarantors, covering the
matters set forth in Section 5(d) of the Purchase Agreement and
such other matters as such parties may reasonably request, and in
any event including a statement to the effect that such counsel has
participated in conferences with officers and other representatives
of the Company and the Guarantors, representatives of the
independent public accountants for the Company and the Guarantors,
representatives of the underwriter(s), if any, and counsel to the
underwriter(s), if any, in connection with the preparation of such
Registration Statement and the related Prospectus and have
considered the matters required to be stated therein and the
statements contained therein, although such counsel has not
independently verified the accuracy, completeness or fairness of
such statements; and that such counsel advises that, on the basis
of the foregoing, no facts came to such counsel’s attention
that caused such counsel to believe that the applicable
Registration Statement, at the time such Registration Statement or
any post-effective amendment thereto became effective, and, in the
case of the Exchange Offer Registration Statement, as of the date
of Consummation, contained an untrue statement of a material fact
or omitted to state a material fact required to be stated therein
or necessary to make the statements therein not misleading, or that
the Prospectus contained in such Registration Statement as of its
date and, in the case of the opinion dated the date of Consummation
of the Exchange Offer, as of the date of Consummation, contained an
untrue statement of a material fact or omitted to state a material
fact necessary in order to make the statements therein not
misleading. Without limiting the foregoing, such counsel may state
further that such counsel assumes no responsibility for, and has
not independently verified, the accuracy, completeness or fairness
of the financial statements, notes and schedules and other
financial data included in any Registration Statement contemplated
by this Agreement or the related Prospectus; and
(3) a customary
comfort letter, dated the date of effectiveness of the Shelf
Registration Statement, from the Company’s
independent
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accountants, in
the customary form and covering matters of the type customarily
requested to be covered in comfort letters by underwriters in
connection with primary underwritten offerings, and covering or
affirming the matters set forth in the comfort letters delivered
pursuant to Section 5(a) of the Purchase Agreement, without
exception;
(B) set forth in
full or incorporate by reference in the underwriting agreement, if
any, the indemnification provisions and procedures of
Section 8 hereof with respect to all parties to be indemnified
pursuant to said Section; and
(C) deliver such
other documents and certificates as may be reasonably requested by
such parties to evidence compliance with Section 6(c)(xi)(A)
hereof and with any customary conditions contained in the
underwriting agreement or other agreement entered into by the
Company or any of the Guarantors pursuant to this
Section 6(c)(xi), if any.
If at any time the
representations and warranties of the Company and the Guarantors
contemplated in Section 6(c)(xi)(A)(1) hereof cease to be true
and correct, the Company or the Guarantors shall so advise the
Initial Purchasers and the underwriter(s), if any, and each selling
Holder promptly and, if requested by such Persons, shall confirm
such advice in writing;
(xii) prior to any
public offering of Transfer Restricted Securities, reasonably
cooperate with the selling Holders, the underwriter(s), if any, and
their respective counsel in connection with the registration and
qualification of the Transfer Restricted Securities under the state
securities or blue sky laws of such jurisdictions as the selling
Holders or underwriter(s), if any, may request and do any and all
other acts or things reasonably necessary to enable the disposition
in such jurisdictions of the Transfer Restricted Securities covered
by the Shelf Registration Statement; provided, however, that none
of the Company nor the Guarantors shall be required to register or
qualify as a foreign corporation where it is not then so qualified
or to take any action that would subject it to the service of
process in suits or to taxation, other than as to matters and
transactions relating to the Registration Statement, in any
jurisdiction where it is not then so subject;
(xiii) issue, upon
the request of any Holder of Transfer Restricted Securities covered
by the Shelf Registration Statement, Exchange Securities having an
aggregate principal amount equal to the aggregate principal amount
of Transfer Restricted Securities surrendered to the Company by
such Holder in exchange therefor or being sold by such Holder; such
Exchange Securities to be registered in the name of such Holder or
in the name of the purchaser(s) of such Securities, as the case may
be; in return, the Transfer Restricted Securities held by such
Holder shall be surrendered to the Company for
cancellation;
(xiv) reasonably
cooperate with the selling Holders and the underwriter(s), if any,
to facilitate the timely preparation and delivery of certificates
representing
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Transfer
Restricted Securities to be sold and not bearing any restrictive
legends; and enable such Transfer Restricted Securities to be in
such denominations and registered in such names as the Holders or
the underwriter(s), if any, may request at least two Business Days
prior to any sale of Transfer Restricted Securities made by such
Holders or underwriter(s);
(xv) use its
reasonable best efforts to cause the Transfer Restricted Securities
covered by the Registration Statement to be registered with or
approved by such other governmental agencies or authorities as may
be necessary to enable the seller or sellers thereof or the
underwriter(s), if any, to consummate the disposition of such
Transfer Restricted Securities, subject to the proviso contained in
Section 6(c)(xii) hereof;
(xvi) if any fact
or event contemplated by Section 6(c)(iii)(D) hereof shall
exist or have occurred, prepare a supplement or post-effective
amendment to the Registration Statement or related Prospectus or
any document incorporated therein by reference or file any other
required document so that, as thereafter delivered to the
purchasers of Transfer Restricted Securities, the Prospectus will
not contain an untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements therein
not misleading;
(xvii) provide a
CUSIP number for all Securities not later than the effective date
of the Registration Statement covering such Securities and provide
the Trustee under the Indenture with printed certificates for such
Securities which are in a form eligible for deposit with The
Depository Trust Company and take all other action necessary to
ensure that all such Securities are eligible for deposit with The
Depository Trust Company;
(xviii) reasonably
cooperate and assist in any filings required to be made with FINRA
and in the performance of any due diligence investigation by any
underwriter (including any “qualified independent
underwriter”) that is required to be retained in accordance
with the rules and regulations of FINRA;
(xix) otherwise
use its reasonable best efforts to comply with all applicable rules
and regulations of the Commission, and make generally available to
its security holders, as soon as practicable, a consolidated
earnings statement meeting the requirements of Rule 158 under
the Securities Act (which need not be audited) for the twelve-month
period (A) commencing at the end of any fiscal quarter in
which Transfer Restricted Securities are sold to underwriters in a
firm commitment or best efforts Underwritten Offering or
(B) if not sold to underwriters in such an offering, beginning
with the first month of the Company’s first fiscal quarter
commencing after the effective date of the Registration
Statement;
(xx) cause
the Indenture to be qualified under the Trust Indenture Act not
later than the effective date of the first Registration Statement
required by this Agreement, and, in connection therewith, cooperate
with the Trustee and the Holders of
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Securities to
effect such changes to the Indenture as may be required for such
Indenture to be so qualified in accordance with the terms of the
Trust Indenture Act; and to execute and use its reasonable best
efforts to cause the Trustee to execute, all documents that may be
required to effect such changes and all other forms and documents
required to be filed with the Commission to enable such Indenture
to be so qualified in
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