Banc of America Securities
LLC
Barclays Capital Inc.
J.P. Morgan Securities Inc.
BANC OF AMERICA
SECURITIES LLC
BARCLAYS CAPITAL INC.
J.P. MORGAN SECURITIES INC.
As
Representatives of the several Underwriters
c/o BANC OF
AMERICA SECURITIES LLC
One Bryant Park
New York, NY 10036
Introductory. Airgas, Inc., a Delaware corporation (the
“ Company ”), proposes to issue and sell to the
several underwriters named in Schedule A (the “
Underwriters ”), acting severally and not jointly, the
respective amounts set forth in such Schedule A of
$400,000,000 aggregate principal amount of the Company’s
4.50% Notes due 2014 (the “ Notes ”). The Notes
will be unconditionally guaranteed on a senior basis as to the
payment of principal, premium, if any, and interest (the “
Guarantees ”) by each of the subsidiaries of the
Company named in Schedule B hereto (collectively, the “
Guarantors ”). The Notes and the Guarantees are
hereinafter collectively called the “ Securities
.” Banc of America Securities LLC (“ BAS
”), Barclays Capital Inc. and J.P. Morgan Securities Inc.
have agreed to act as representatives of the several Underwriters
(in such capacity, the “ Representatives ”) in
connection with the offering and sale of the Securities.
The Securities will be issued pursuant to an
indenture, dated as of September 11, 2009 (the “ Base
Indenture ”), among the Company, the Guarantors and The
Bank of New York Mellon, as trustee (the “ Trustee
”). Certain terms of the Securities will be established
pursuant to a supplemental indenture (the “ Supplemental
Indenture ”) to the Base Indenture (together with the
Base Indenture, the “ Indenture ”). The
Securities will be issued in bookentry form in the name of Cede
& Co., as nominee of The Depository Trust Company (the “
Depositary ”), pursuant to a Blanket Letter of
Representations, to be dated on or before the Closing Date (as
defined in Section 2 below) (the “ DTC Agreement
”), between the Company and the Depositary.
The Company has prepared and filed with the
Securities and Exchange Commission (the “ Commission
”) a registration statement on Form S-3 (File
No. 333-161774), which contains a base prospectus (the “
Base Prospectus ”), to be used in connection with the
public offering and sale of debt securities, including the
Securities, and other securities of the Company under the
Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder (collectively, the “ Securities
Act ”), and the offering thereof from time to time in
accordance with Rule 415 under the Securities Act. Such
registration statement, including the financial statements,
exhibits and schedules thereto, in the form in which it became
effective under the Securities Act, including any required
information deemed to be a part thereof at the time of
effectiveness pursuant to Rule 430B under the Securities Act,
is called the “ Registration Statement .” The
term “ Prospectus ” shall mean the final
prospectus supplement relating to the Securities,
together
with the Base
Prospectus, that is first filed pursuant to Rule 424(b) after the
date and time that this Agreement is executed (the “
Execution Time ”) by the parties hereto. The term
“ Preliminary Prospectus ” shall mean any
preliminary prospectus supplement relating to the Securities,
together with the Base Prospectus, that is first filed with the
Commission pursuant to Rule 424(b). Any reference herein to
the Registration Statement, the Preliminary Prospectus or the
Prospectus shall be deemed to refer to and include the documents
that are or are deemed to be incorporated by reference therein
pursuant to Item 12 of Form S-3 under the Securities Act prior
to 3:10 p.m. on September 8, 2009 (the “ Initial Sale
Time ”). All references in this Agreement to the
Registration Statement, the Preliminary Prospectus, the Prospectus,
or any amendments or supplements to any of the foregoing, shall
include any copy thereof filed with the Commission pursuant to its
Electronic Data Gathering, Analysis and Retrieval System (“
EDGAR ”).
All references in this Agreement to financial
statements and schedules and other information which is
“contained,” “included” or
“stated” (or other references of like import) in the
Registration Statement, the Prospectus or the Preliminary
Prospectus shall be deemed to mean and include all such financial
statements and schedules and other information which is or is
deemed to be incorporated by reference in the Registration
Statement, the Prospectus or the Preliminary Prospectus, as the
case may be, prior to the Initial Sale Time; and all references in
this Agreement to amendments or supplements to the Registration
Statement, the Prospectus or the Preliminary Prospectus shall be
deemed to include the filing of any document under the Securities
Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder (collectively, the “ Exchange
Act ”), which is or is deemed to be incorporated by
reference in the Registration Statement, the Prospectus or the
Preliminary Prospectus, as the case may be, after the Initial Sale
Time.
The Company and the Guarantors hereby confirm
their agreements with the Underwriters as follows:
SECTION 1. Representations and Warranties of
the Company and the Guarantors . The Company and each
Guarantor, jointly and severally, hereby represents, warrants and
covenants to each Underwriter as of the date hereof, as of the
Initial Sale Time and as of the Closing Date (in each case, a
“ Representation Date ”), as follows:
(a) Compliance with Registration
Requirements. The Company and the Guarantors meet the
requirements for use of Form S-3 under the Securities Act. The
Registration Statement has become effective under the Securities
Act and no stop order suspending the effectiveness of the
Registration Statement has been issued under the Securities Act and
no proceedings for that purpose have been instituted or are pending
or, to the knowledge of the Company, are contemplated or threatened
by the Commission, and any request on the part of the Commission
for additional information has been complied with. In addition, the
Indenture has been duly qualified under the Trust Indenture Act of
1939, as amended, and the rules and regulations promulgated
thereunder (the “ Trust Indenture Act
”).
At the respective times the Registration
Statement and any post-effective amendments thereto became
effective and at each Representation Date, the Registration
Statement and any amendments thereto (i) complied and will
comply in all material respects with the requirements of the
Securities Act and the Trust Indenture Act, and (ii) did not
and will not contain any untrue
-2-
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. At the date of the Prospectus and at the Closing Date,
neither the Prospectus nor any amendments or supplements thereto
included or will include an untrue statement of a material fact or
omitted or will omit to state a material fact necessary in order to
make the statements therein, in the light of the circumstances
under which they were made, not misleading. Notwithstanding the
foregoing, the representations and warranties in this subsection
shall not apply to statements in or omissions from the Registration
Statement or any post-effective amendment or the Prospectus or any
amendments or supplements thereto made in reliance upon and in
conformity with information furnished to the Company in writing by
any of the Underwriters through the Representatives expressly for
use therein, it being understood and agreed that the only such
information furnished by any Underwriter through the
Representatives consists of the information described as such in
Section 8 hereof.
Each Preliminary Prospectus and the Prospectus,
at the time each was filed with the SEC, complied in all material
respects with the Securities Act, and the Preliminary Prospectus
and the Prospectus delivered to the Underwriters for use in
connection with the offering of the Securities will, at the time of
such delivery, be identical to any electronically transmitted
copies thereof filed with the Commission pursuant to EDGAR, except
to the extent permitted by Regulation S-T.
(b) Disclosure Package. The term
“ Disclosure Package ” shall mean (i) the
Preliminary Prospectus dated September 8, 2009, (ii) the
issuer free writing prospectuses as defined in Rule 433 of the
Securities Act (each, an “ Issuer Free Writing
Prospectus ”), if any, identified in Annex I hereto and
(iii) any other free writing prospectus that the parties
hereto shall hereafter expressly agree in writing to treat as part
of the Disclosure Package. As of the Initial Sale Time, the
Disclosure Package did not contain any untrue statement of a
material fact or omit to state any material fact necessary in order
to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The preceding sentence
does not apply to statements in or omissions from the Disclosure
Package based upon and in conformity with written information
furnished to the Company by any Underwriter through the
Representatives specifically for use therein, it being understood
and agreed that the only such information furnished by any
Underwriter through the Representatives consists of the information
described as such in Section 8 hereof.
(c) Incorporated Documents . The
documents incorporated or deemed to be incorporated by reference in
the Registration Statement, the Preliminary Prospectus and the
Prospectus (i) at the time they were or hereafter are filed
with the Commission, complied or will comply in all material
respects with the requirements of the Exchange Act and
(ii) when read together with the other information in the
Disclosure Package, at the Initial Sale Time, and when read
together with the other information in the Prospectus, at the date
of the Prospectus and at the Closing Date, did not or will not
include an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in
the light of the circumstances under which they were made, not
misleading.
(d) Company is a Well-Known Seasoned
Issuer . (i) At the time of filing the Registration
Statement, (ii) at the time of the most recent amendment
thereto for the purposes of complying with Section 10(a)(3) of
the Securities Act (whether such amendment was by
post-effective
-3-
amendment,
incorporated report filed pursuant to Section 13 or 15(d) of
the Exchange Act or form of prospectus), (iii) at the time the
Company or any person acting on its behalf (within the meaning, for
this clause only, of Rule 163(c) of the Securities Act) made any
offer relating to the Securities in reliance on the exemption of
Rule 163 of the Securities Act, and (iv) as of the
Execution Time, the Company was and is a “well known seasoned
issuer” as defined in Rule 405 of the Securities Act.
The Registration Statement is an “automatic shelf
registration statement,” as defined in Rule 405 of the
Securities Act, that automatically became effective not more than
three years prior to the Execution Time; the Company has not
received from the Commission any notice pursuant to
Rule 401(g)(2) of the Securities Act objecting to use of the
automatic shelf registration statement form and the Company has not
otherwise ceased to be eligible to use the automatic shelf
registration form.
(e) Company is not an Ineligible
Issuer . (i) At the time of filing the Registration
Statement and (ii) as of the Execution Time (with such date
being used as the determination date for purposes of this clause
(ii)), the Company was not and is not an Ineligible Issuer (as
defined in Rule 405 of the Securities Act), without taking
account of any determination by the Commission pursuant to
Rule 405 of the Securities Act that it is not necessary that
the Company be considered an Ineligible Issuer.
(f) Issuer Free Writing
Prospectuses . Each Issuer Free Writing Prospectus, as of its
issue date and at all subsequent times through the completion of
the offering of Securities under this Agreement or until any
earlier date that the Company notified or notifies the
Representatives as described in the next sentence, did not, does
not and will not include any information that conflicted, conflicts
or will conflict with the information contained in the Registration
Statement, the Preliminary Prospectus or the Prospectus. If at any
time following issuance of an Issuer Free Writing Prospectus there
occurred or occurs an event or development as a result of which
such Issuer Free Writing Prospectus conflicted or would conflict
with the information contained in the Registration Statement, the
Preliminary Prospectus or the Prospectus the Company has promptly
notified or will promptly notify the Representatives and has
promptly amended or supplemented or will promptly amend or
supplement, at its own expense, such Issuer Free Writing Prospectus
to eliminate or correct such conflict. The foregoing two sentences
do not apply to statements in or omissions from any Issuer Free
Writing Prospectus based upon and in conformity with written
information furnished to the Company by any Underwriter through the
Representatives specifically for use therein, it being understood
and agreed that the only such information furnished by any
Underwriter through the Representatives consists of the information
described as such in Section 8 hereof.
(g) Distribution of Offering Material
by the Company. Neither the Company nor the Guarantors have
distributed or will distribute, prior to the later of the Closing
Date and the completion of the Underwriters’ distribution of
the Securities, any offering material in connection with the
offering and sale of the Securities other than (i) the
Preliminary Prospectus, (ii) the Prospectus, (iii) any
Issuer Free Writing Prospectus reviewed and consented to by the
Representatives and included in Annex I hereto, (iv) the
Registration Statement or (v) any electronic road show or
other written communications reviewed and consented to by the
Representatives and included in Annex II hereto (collectively,
“ Company Additional Written Communication ”).
Each such Company Additional Written Communication, when taken
together with the Disclosure Package, did not, and at the Closing
Date will not, contain any untrue statement of a mate-
-4-
rial fact or
omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which
they were made, not misleading; provided that this
representation, warranty and agreement shall not apply to
statements in or omissions from each such Company Additional
Written Communication made in reliance upon and in conformity with
information furnished to the Company in writing by any Underwriter
through the Representatives expressly for use in any Company
Additional Written Communication, it being understood and agreed
that the only such information furnished by any Underwriter through
the Representatives consists of the information described as such
in Section 8 hereof.
(h) No Applicable Registration or Other
Similar Rights. There are no persons with registration or other
similar rights to have any equity or debt securities registered for
sale under the Registration Statement or included in the offering
contemplated by this Agreement, except for such rights as have been
duly waived.
(i) The Underwriting Agreement.
This Agreement has been duly authorized, executed and delivered by
the Company and each Guarantor.
(j) Authorization of the Indenture
. The Indenture has been duly qualified under the Trust Indenture
Act and has been duly authorized, executed and delivered by the
Company and each Guarantor and constitutes a valid and binding
agreement of the Company and each Guarantor, enforceable against
the Company and each Guarantor in accordance with its terms, except
as the enforcement thereof may be limited by bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium or
other similar laws relating to or affecting the rights and remedies
of creditors or by general equitable principles.
(k) Authorization of the Notes. The
Notes to be purchased by the Underwriters from the Company are in
the form contemplated by the Indenture, have been duly authorized
for issuance and sale pursuant to this Agreement and the Indenture
and, at the Closing Date, will have been duly executed by the
Company and, when authenticated in the manner provided for in the
Indenture and delivered against payment of the purchase price
therefor, will constitute valid and binding obligations of the
Company, enforceable in accordance with their terms, except as the
enforcement thereof may be limited by bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium or other similar
laws relating to or affecting the rights and remedies of creditors
or by general equitable principles, and will be entitled to the
benefits of the Indenture.
(l) Authorization of the
Guarantees. Each of the Guarantees is in the form contemplated
by the Indenture, has been duly authorized for issuance and sale
pursuant to this Agreement and the Indenture and, at the Closing
Date, will have been duly executed by such Guarantor and, when the
Notes are authenticated in the manner provided for in the Indenture
and delivered against payment of the purchase price for the Notes,
will constitute a valid and binding obligation of such Guarantor,
enforceable in accordance with its terms, except as the enforcement
thereof may be limited by bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium or other similar laws relating
to or affecting the rights and remedies of creditors or by general
equitable principles, and will be entitled to the benefits of the
Indenture.
(m) No Material Adverse Effect .
None of the Company, the Guarantors or any of their respective
subsidiaries has sustained since the date of the latest audited
financial statements in-
-5-
cluded in the
Disclosure Package any loss or interference with its business from
fire, explosion, flood or other calamity, whether or not covered by
insurance, or from any labor dispute or court or governmental
action, order or decree, which loss or interference is material to
the business of the Company and the Guarantors, taken as a whole,
otherwise than as set forth or contemplated in the Disclosure
Package and the Prospectus; and, since the respective dates as of
which information is given in the Disclosure Package and the
Prospectus, there has not been any change in the capital stock or
long-term debt of the Company, the Guarantors or any of their
respective subsidiaries or any material adverse change, or any
development involving a prospective material adverse change, in or
affecting the general affairs, management, financial position,
stockholders’ equity or results of operations of the Company,
the Guarantors and their respective subsidiaries, taken as a whole
(a “ Material Adverse Effect ”), otherwise than
as set forth or contemplated in the Disclosure Package and the
Prospectus.
(n) Title to Properties . Each of
the Company, the Guarantors and their respective subsidiaries has
good and marketable title in fee simple to all real property and
good and marketable title to all personal property owned by them
and material to the business of the Company and the Guarantors,
taken as a whole, in each case free and clear of all liens,
encumbrances and defects except such as are described in the
Disclosure Package and the Prospectus or such as do not materially
affect the value of such property and do not materially interfere
with the use made and proposed to be made of such property by the
Company, the Guarantors or their respective subsidiaries; and any
real property and buildings held under lease by the Company, the
Guarantors or their respective subsidiaries and material to the
business of the Company, the Guarantors and their respective
subsidiaries are held by them under valid, subsisting and
enforceable leases with such exceptions as are not material and do
not materially interfere with the use made and proposed to be made
of such property and buildings by the Company, the Guarantors and
their respective subsidiaries.
(o) Incorporation and Good Standing of
the Company and the Guarantors . Each of the Company and the
Guarantors has been duly incorporated or organized and is validly
existing and in good standing under the laws of its state of
incorporation or organization, with power and authority (corporate
and other) to own its properties and conduct its business as
described in the Disclosure Package and the Prospectus, and each
such entity has been duly qualified as a foreign corporation or
similar entity for the transaction of business and is in good
standing under the laws of each other jurisdiction in which it owns
or leases properties or conducts any business so as to require such
qualification, or is subject to no material liability or disability
by reason of the failure to be so qualified in any such
jurisdiction; and each subsidiary of the Company and the Guarantors
has been duly incorporated or organized and is validly existing as
a corporation or similar entity in good standing under the laws of
its jurisdiction of incorporation or organization.
(p) Capital Stock . All of the
issued shares of capital stock of the Company have been duly and
validly authorized and issued and are fully paid and nonassessable;
and all of the issued shares of capital stock of each subsidiary of
the Company have been duly and validly authorized and issued, are
fully paid and nonassessable and (except for directors’
qualifying shares and except as otherwise set forth in the
Disclosure Package and the Prospectus) are owned directly or
indirectly by the Company, free and clear of all liens,
encumbrances, equities or claims other than as described in the
Disclosure Package and the Prospectus.
-6-
(q) Regulations T, U and X. None of
the transactions contemplated by this Agreement (including, without
limitation, the use of the proceeds from the sale of the
Securities) will violate or result in a violation of Section 7
of the Exchange Act, or any regulation promulgated thereunder,
including, without limitation, Regulations T, U, and X of the Board
of Governors of the Federal Reserve System
(r) No Price Stabilization or
Manipulation . Prior to the date hereof, none of the Company,
the Guarantors or any of their respective affiliates has taken any
action which is designed to or which has constituted or which might
have been expected to cause or result in stabilization or
manipulation of the price of any security of the Company or any
Guarantor in connection with the offering of the
Securities.
(s) Non-Contravention of Existing
Instruments; No Further Authorizations or Approvals Required.
The issue and sale of the Securities and the compliance by the
Company and the Guarantors with all of the provisions of the
Securities, the Indenture and this Agreement and the consummation
of the transactions herein and therein contemplated will not
conflict with or result in a breach or violation of (i) any of
the terms or provisions of, or constitute a default under, any
indenture, mortgage, deed of trust, loan agreement or other
agreement or instrument to which the Company, the Guarantors or any
of their respective subsidiaries is a party or by which the
Company, the Guarantors or any of their respective subsidiaries is
bound or to which any of the property or assets of the Company, the
Guarantors or any of their respective subsidiaries is subject,
(ii) any of the provisions of the Certificate of
Incorporation, By-laws or similar organizational documents of the
Company or any Guarantor or (iii) any existing statute, order,
rule or regulation of any court or governmental agency or body
having jurisdiction over the Company, the Guarantors or any of
their respective subsidiaries or any of their properties, except,
in the case of clauses (i) and (iii) above, for such
breaches or violations which would not, individually or in the
aggregate, have a Material Adverse Effect or prevent or be
reasonably likely to prevent the Company or the Guarantors from
performing their respective obligations hereunder; and no consent,
approval, authorization or other order of, or registration or
filing with, any court or other governmental or regulatory
authority or agency is required for the Company’s or any
Guarantor’s execution, delivery and performance of this
Agreement or consummation of the transactions contemplated hereby,
by the Disclosure Package or by the Prospectus, except such as have
been obtained or made by the Company and are in full force and
effect under the Securities Act, applicable state securities or
blue sky laws and from the Financial Industry Regulatory Authority
(the “ FINRA ”). None of the Company, the
Guarantors or any of their respective subsidiaries is (i) in
violation of its Certificate of Incorporation, By-laws or similar
organizational documents, (ii) in default in the performance
or observance of any obligation, covenant or condition contained in
any indenture, mortgage, deed of trust, loan agreement, lease or
other agreement or instrument to which it is a party or by which it
or any of its properties may be bound, or (iii) in violation
of any law or statute or any judgment, order, rule or regulation of
any court or arbitrator or governmental or regulatory authority,
except for, with respect to clauses (ii) and (iii) only,
defaults that, individually or in the aggregate, would not have a
Material Adverse Effect.
(t) Accuracy of Statements in the
Prospectus . The statements set forth in the Preliminary
Prospectus and the Prospectus under the caption “Description
of the Notes” and “Description of the Debt Securities
and Guarantees”, insofar as they purport to constitute a
summary of the terms of the Indenture and the Securities, and under
the captions “Material U.S. Federal
-7-
Tax
Consequences” and “Description of Other
Obligations”, insofar as they purport to describe the
provisions of the laws and documents referred to therein, are
accurate, complete and fair.
(u) No Material Proceedings . Other
than as set forth in the Disclosure Package and the Prospectus,
there are no legal or governmental proceedings pending to which the
Company, the Guarantors or any of their respective subsidiaries is
a party or of which any property of the Company, the Guarantors or
any of their respective subsidiaries is the subject which, if
determined adversely to the Company or any of its subsidiaries,
would individually or in the aggregate have a Material Adverse
Effect; and, to the best of the Company’s knowledge, no such
proceedings are threatened or contemplated by governmental
authorities or threatened by others.
(v) Investment Company Act .
Neither the Company nor any of the Guarantors is and, after giving
effect to the offering and sale of the Securities, none will be an
“investment company,” as such term is defined in the
United States Investment Company Act of 1940, as amended (the
“ Investment Company Act ”).
(w) No Business with Cuba . Neither
the Company nor any of its affiliates does business with the
government of Cuba or with any person or affiliate located in Cuba
within the meaning of Section 517.075, Florida
Statutes.
(x) Independent Accountants . KPMG
LLP, who have certified certain financial statements of the Company
and its subsidiaries, are an independent registered public
accounting firm as required by the Securities Act and the rules and
regulations of the Commission thereunder and the rules and
regulations of the Public Company Accounting Oversight Board
(United States); any non-audit services provided by KPMG LLP to the
Company or any of the Guarantors have been approved by the Audit
Committee of the Board of Directors of the Company.
(y) Sarbanes-Oxley Compliance . The
Company and its subsidiaries and their respective officers and
directors are in compliance with the applicable provisions of the
Sarbanes-Oxley Act of 2002, including the rules and regulations of
the Commission promulgated thereunder.
(z) Disclosure Controls and
Procedures . The Company has established and maintains
disclosure controls and procedures (as such term is defined in
Rules 13a-15 and 15d-14 under the Exchange Act); such
disclosure controls and procedures are designed to ensure that
material information relating to the Company and its subsidiaries
is made known to the chief executive officer and chief financial
officer of the Company by others within the Company or any of its
subsidiaries, and such disclosure controls and procedures are
reasonably effective to perform the functions for which they were
established, subject to the limitations of any such control system;
the Company’s auditors and the Audit Committee of the Board
of Directors of the Company have been advised of: (i) any
significant deficiencies or material weaknesses in the design or
operation of internal controls which could adversely affect the
Company’s ability to record, process, summarize and report
financial data; and (ii) any fraud, whether or not material,
that involves management or other employees who have a role in the
Company’s internal controls; and since the date of the most
recent evaluation of such disclosure controls and procedures, there
have been no significant changes in internal controls or in other
factors that could significantly
-8-
affect internal
controls, other than any corrective actions, if any, with regard to
significant deficiencies.
(aa) Internal Controls and
Procedures . The Company and its subsidiaries maintain a system
of “internal control over financial reporting” (as
defined in Rule 13a-15(f) of the Exchange Act) that is in
compliance with the Sarbanes-Oxley Act and is sufficient to provide
reasonable assurances that: (i) transactions are executed in
accordance with management’s general or specific
authorization; (ii) transactions are recorded as necessary to
permit preparation of financial statements in conformity with
generally accepted accounting principles and to maintain
accountability for assets; (iii) access to assets is permitted
only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets
is compared with existing assets at reasonable intervals and
appropriate action is taken with respect to any
differences.
(bb) Preparation of Financial
Statements . The financial statements, together with the
related schedules and notes, included or incorporated by reference
in the Registration Statement, the Preliminary Prospectus and the
Prospectus present fairly the consolidated financial position of
the entities to which they relate as of and at the dates indicated
and the results of their operations and cash flows for the periods
specified. Such financial statements have been prepared in
conformity with generally accepted accounting principles applied on
a consistent basis throughout the periods involved, except as may
be expressly stated in the related notes thereto. The financial
data set forth or incorporated by reference in the Registration
Statement, the Preliminary Prospectus and the Prospectus fairly
present the information set forth therein on a basis reasonably
consistent with that of the audited financial statements contained
or incorporated by reference in the Registration Statement, the
Preliminary Prospectus and the Prospectus.
(cc) Compliance with Environmental
Laws . Except as described in the Disclosure Package and the
Prospectus and except for those matters that would not,
individually or in the aggregate, result in a Material Adverse
Effect, (i) each of the Company, the Guarantors and their
respective subsidiaries is in compliance with all applicable
federal, state, local or foreign statutes, laws, rules, regulations
or ordinances relating to pollution or protection of human health
or the environment (including, without limitation, ambient air,
surface water, groundwater, land surface or subsurface strata) or
wildlife, including, without limitation, laws and regulations
relating to the release or threatened release of chemicals,
pollutants, contaminants, wastes, toxic substances, hazardous
substances, petroleum or petroleum products (collectively, “
Hazardous Materials ”) or to the manufacture,
processing, distribution, use, treatment, storage, disposal,
transport or handling of Hazardous Materials (collectively, “
Environmental Laws ”), (ii) each of the Company,
the Guarantors and their respective subsidiaries has obtained and
is in compliance with all permits, authorizations and approvals
required for the conduct of its operations under any Environmental
Laws and (iii) there are no pending or, to the Company’s
or any Guarantor’s knowledge, threatened administrative,
regulatory or judicial actions, suits, demands, demand letters,
claims, liens, notices of noncompliance or violation,
investigations or proceedings relating to any Environmental Laws
against the Company, the Guarantors or any of their respective
subsidiaries and (iv) there are no events or circumstances
that might reasonably be expected to form the basis of an order for
clean-up or remediation, or an action, suit or proceeding by any
private party or governmental body or agency against or affecting
the Company, the Guarantors or any of their respective subsidiaries
relating to Hazardous Materials or Environmental Laws.
-9-
(dd) Accuracy of Exhibits . There
are no franchises, contracts or documents which are required to be
described in the Registration Statement, the Disclosure Package,
the Prospectus or the documents incorporated by reference therein
or to be filed as exhibits to the Registration Statement which have
not been so described and filed as required.
Any certificate signed by an officer of the
Company or a Guarantor and delivered to the Representatives or to
counsel for the Underwriters shall be deemed to be a representation
and warranty by the Company or such Guarantor, as applicable, to
each Underwriter as to the matters set forth therein.
SECTION 2.
Purchase, Sale and Delivery of the Securities .
(a) The Securities. Each of the
Company and the Guarantors agrees to issue and sell to the several
Underwriters, severally and not jointly, all of the Securities upon
the terms herein set forth. On the basis of the representations,
warranties and agreements herein contained, and upon the terms but
subject to the conditions herein set forth, the Underwriters agree,
severally and not jointly, to purchase from the Company and the
Guarantors the aggregate principal amount of Securities set forth
opposite their names on Schedule A at a purchase price of
99.28% of the principal amount of the Securities, payable on the
Closing Date.
(b) The Closing Date. Delivery of
certificates for the Securities in global form to be purchased by
the Underwriters and payment therefor shall be made at the offices
of Cahill Gordon & Reindel llp , 80 Pine Street, New York,
New York 10005 (or such other place as may be agreed to by the
Company and the Representatives) at 9:00 a.m., New York City time,
on September 11, 2009, or such other time and date as the
Underwriters and the Company shall mutually agree (the time and
date of such closing are called the “ Closing Date
”).
(c) Public Offering of the
Securities. The Representatives hereby advise the Company and
the Guarantors that the Underwriters intend to offer for sale to
the public, as described in the Disclosure Package and the
Prospectus, their respective portions of the Securities as soon
after the Execution Time as the Representatives, in their sole
judgment, have determined is advisable and practicable.
(d) Payment for the Securities.
Payment for the Securities shall be made at the Closing Date by
wire transfer of immediately available funds to the order of the
Company.
It is understood that the Representatives have
been authorized, for their own accounts and for the accounts of the
several Underwriters, to accept delivery of and receipt for, and
make payment of the purchase price for, the Securities that the
Underwriters have agreed to purchase. The Representatives may (but
shall not be obligated to) make payment for any Securities to be
purchased by any Underwriter whose funds shall not have been
received by the Representatives by the Closing Date for the account
of such Underwriter, but any such payment shall not relieve such
Underwriter from any of its obligations under this
Agreement.
(e) Delivery of the Securities. The
Company shall deliver, or cause to be delivered, to the
Representatives for the accounts of the several Underwriters
certificates for the Securities at the Closing Date, against the
irrevocable release of a wire transfer of immediately available
funds for the amount of the purchase price therefor. The
certificates for the Securities shall be in
-10-
such
denominations and registered in such names and denominations as the
Representatives shall have requested at least two full business
days prior to the Closing Date and shall be made available for
inspection on the business day preceding the Closing Date at a
location in New York City, as the Representatives may designate.
Time shall be of the essence, and delivery at the time and place
specified in this Agreement is a further condition to the
obligations of the Underwriters.
SECTION 3. Covenants of the Company and the
Guarantors . Each of the Company and the Guarantors, jointly
and severally, covenants and agrees with each Underwriter as
follows:
(a) Compliance with Securities
Regulations and Commission Requests. The Company, subject to
Section 3(b), will comply with the requirements of
Rule 430B of the Securities Act, and will promptly notify the
Representatives, and confirm the notice in writing, of (i) the
effectiveness during the Prospectus Delivery Period (as defined
below) of any post-effective amendment to the Registration
Statement or the filing of any supplement or amendment to the
Preliminary Prospectus or the Prospectus, (ii) the receipt of
any comments from the Commission during the Prospectus Delivery
Period, (iii) any request by the Commission for any amendment
to the Registration Statement or any amendment or supplement to the
Preliminary Prospectus or the Prospectus or for additional
information, and (iv) the issuance by the Commission of any
stop order suspending the effectiveness of the Registration
Statement or of any order preventing or suspending the use of the
Preliminary Prospectus or the Prospectus, or of the suspension of
the qualification of the Securities for offering or sale in any
jurisdiction, or of the initiat
|