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Exhibit 1.1
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EXECUTION COPY
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$350,000,000 5.30% Senior Notes due
2018
MIDAMERICAN ENERGY
COMPANY
UNDERWRITING
AGREEMENT
March 19, 2008
Lehman Brothers Inc.
745 Seventh Avenue
New York, New York 10019
Greenwich Capital Markets,
Inc.
600 Steamboat Road
Greenwich, Connecticut
06830
Dear Sirs:
1. Introductory . MidAmerican Energy Company, an Iowa corporation
(the “ Company ”), proposes, subject to the terms and
conditions stated herein, to issue and sell to the underwriters
named in Schedule A hereto (collectively, the “ Underwriters ”
), for whom Lehman Brothers Inc. and
Greenwich Capital Markets, Inc. are acting as representatives (the
“ Representatives ”), U.S. $350,000,000 principal amount of
its 5.30% Senior Notes due 2018 (the “ Offered Securities ”) to be issued under that certain
indenture, dated as of October 1, 2006, with The Bank of New York
Trust Company, N.A., as trustee (the “ Trustee ”), as supplemented by a third supplemental
indenture to be dated March 25, 2008 (collectively, the
“ Indenture
”) pursuant to a registration
statement on Form S-3ASR (File No. 333-142663) filed on May 7, 2007
(the “ Registration
Statement ”). The
Indenture has been qualified under the Trust Indenture Act of 1939,
as amended (the “ Trust Indenture Act ”), and the rules and regulations of the
Securities and Exchange Commission (the “
Commission ”) under the Trust Indenture Act. The United
States Securities Act of 1933, as amended, is herein referred to as
the “ Securities
Act ,” and the rules
and regulations of the Commission thereunder are herein referred to
as the “ Rules and
Regulations .”
2. Representations and Warranties of the
Company . The Company
represents and warrants to, and agrees with, the several
Underwriters that:
(a) The Registration Statement in
respect of the Offered Securities has been filed with the
Commission; the Registration Statement and any post-effective
amendments thereto prior to the date hereof, each in the form
heretofore delivered or to be delivered to the Underwriters and,
excluding exhibits to the Registration Statement but including all
documents incorporated by reference in the prospectus contained in
such Registration Statement, including any prospectus supplement
relating to the Offered Securities that is filed with the
Commission and deemed by virtue of Rule 430B under the Securities
Act to be part of the Registration Statement, became effective on
filing and is currently effective; and no other document with
respect to the Registration Statement or any document incorporated
by reference therein has heretofore been filed or transmitted for
filing with the Commission with respect to the offering
contemplated by the Registration Statement (other than (i)
documents filed after May 7, 2007 under the Securities Exchange Act
of 1934, as amended (the “ Exchange Act ”), (ii) prospectuses filed pursuant to
Rule 424(b) of the Rules and Regulations or (iii) any
“issuer free writing
prospectus” as defined in Rule
433 under the Securities Act (“ Issuer Free Writing Prospectus
”) filed pursuant to Rule 433(d)
under the Securities Act and listed on Schedule B hereto, in
each case in the form heretofore delivered to the Underwriters);
and no stop order suspending the effectiveness of the Registration
Statement or preventing or suspending the use of the Preliminary
Prospectus (as defined below), any Issuer Free Writing Prospectus
(as defined below) or the Prospectus (as defined below), has been
issued and no proceeding for such purpose has been initiated or
threatened by the Commission.
(b) A preliminary prospectus and a
final prospectus relating to the Offered Securities to be offered
by the Underwriters have been prepared by the Company. Such
preliminary prospectus (including the documents incorporated by
reference therein) is hereinafter referred to as the “
Preliminary Prospectus
;” such form of final prospectus
relating to the Offered Securities filed with the Commission
pursuant to Rule 424(b) under the Securities Act (including the
documents incorporated by reference therein) is hereinafter
referred to as the “ Prospectus .” The
Preliminary Prospectus, as amended or supplemented as of the
Applicable Time (as defined below), when considered together with
the final term sheet filed pursuant to Section 5(a) hereof, (the
“ Disclosure
Package ”) as of the
Applicable Time did 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 the light of the circumstances under
which they were made, not misleading. The Prospectus, as of its
date and as of the Closing Date (as defined below), did not and
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 the light of the circumstances under which they were
made, not misleading; and each Issuer Free Writing Prospectus
listed on Schedule B hereto does not conflict with the
information contained in the Registration Statement, the
Preliminary Prospectus or the Prospectus and each such Issuer Free
Writing Prospectus, as supplemented by and taken together with the
Disclosure Package as of the Applicable Time, did 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 the
light of the circumstances under which they were made, not
misleading; provided ,
the preceding two sentences do not apply to statements in or
omissions from the Preliminary Prospectus, the Disclosure Package,
the Prospectus or any Issuer Free Writing Prospectus based upon
written information furnished to the Company by the Underwriters
specifically for use therein, it being understood and agreed that
the only such information is that described as such in Section 12
hereof. For purposes of this Agreement, the “
Applicable Time
” is 2:00 p.m., New York City
Time, on the date of this Agreement.
At the time of initial filing of the
Registration Statement and at the earliest time thereafter that the
Company or another offering participant made a bona fide offer
(within the meaning of Rule 162(h)(2) under the Rules and
Regulations ) of the Offered Securities and at the date of this
Agreement, the Company (i) was and is a “well-known seasoned
issuer,” as defined in Rule 405 and (ii) was not and is not
an “ineligible issuer,” as defined in Rule
405.
(c) The Registration Statement and the
Prospectus conform, and any further amendments or supplements to
the Registration Statement or the Prospectus when made will
conform, in all material respects to the requirements of the
Securities Act and the Rules and Regulations and the Registration
Statement conforms, and any further amendments or supplements to
the Registration Statement when made will conform, in all material
respects to the requirements of the Trust Indenture Act, and the
rules and regulations of the Commission thereunder. The
Registration Statement as of its effective date and any amendments
thereto as of the Closing Date does not and will not contain an
untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading.
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(d) The Company has been duly
incorporated and is validly existing as a corporation in good
standing under the laws of the State of Iowa with corporate power
and authority to own, lease and operate its properties and to
conduct its business as described in the Disclosure Package; and
the Company is duly qualified as a foreign corporation to transact
business and is in good standing in each jurisdiction in which such
qualification is required, whether by reason of the ownership or
leasing of property or the conduct of business, except where the
failure to so qualify and be in good standing would not have a
material adverse effect on the condition, financial or otherwise,
or the earnings, business affairs or business prospects of the
Company.
(e) The Company has the legal right to
function and operate as an electric public utility company in the
States of Iowa, Illinois and South Dakota, and as a gas public
utility company in the States of Iowa, Illinois, South Dakota and
Nebraska.
(f) The Company has no significant
subsidiaries, as “significant subsidiary” is defined in
Rule 405 of Regulation C of the Rules and Regulations.
(g) The documents incorporated by
reference in the Prospectus and the Disclosure Package, at the time
they were or hereafter are filed with the Commission, complied or
when so filed will comply, as the case may be, in all material
respects with the requirements of the Exchange Act and the rules
and regulations promulgated thereunder (“
Exchange Act Rules and
Regulations ”), and,
when read together with the other information in the Prospectus and
the Disclosure Package, did not and will not contain an untrue
statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which
they were or are made, not misleading. The Company is in compliance
in all material respects with all the applicable provisions of the
Sarbanes-Oxley Act of 2002 and the rules and regulations
promulgated thereunder.
(h) The accountants who issued their
reports on the financial statements included or incorporated by
reference in the Registration Statement, the Disclosure Package and
the Prospectus are an independent registered public accounting firm
within the meaning of the Securities Act and the Rules and
Regulations.
(i) The financial statements and any
supporting schedules of the Company included or incorporated by
reference in the Registration Statement, the Prospectus or the
Disclosure Package present fairly the financial position of the
Company as of the dates indicated and the results of its operations
for the periods specified; and, except as stated therein, said
financial statements have been prepared in conformity with
generally accepted accounting principles in the United States
applied on a consistent basis; and any supporting schedules
included or incorporated by reference in the Registration
Statement, the Prospectus or the Disclosure Package present fairly
the information required to be stated therein.
(j) This Agreement has been duly
authorized by and, upon execution and delivery by the parties
hereto, will be a legal, valid and binding agreement of the
Company; the Indenture has been duly authorized by and constitutes
a legal, valid and binding obligation of the Company enforceable
against the Company in accordance with its terms; the Offered
Securities have been duly and validly authorized for issuance,
offer and sale pursuant to this Agreement and, when issued,
authenticated and delivered pursuant to the provisions of this
Agreement and the Indenture against payment of the consideration
therefor specified in the Prospectus, the Offered Securities will
constitute legal, valid and binding obligations of the Company
enforceable against the Company in accordance with their terms;
except as enforcement of the Indenture and the Offered Securities
may be limited by bankruptcy, insolvency, fraudulent
conveyance,
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reorganization, moratorium and other
similar laws relating to or affecting the enforcement of
creditors’ rights generally and general equitable principles;
the Offered Securities and the Indenture will be substantially in
the form heretofore delivered to the Underwriters and conform in
all material respects to all statements relating thereto contained
in the Disclosure Package and the Prospectus; and the Offered
Securities will be entitled to the benefits provided by the
Indenture.
(k) Since the respective dates as of
which information is given in the Registration Statement, the
Prospectus and the Disclosure Package, except as may otherwise be
stated therein or contemplated thereby, (A) there has been no
material adverse change in the condition, financial or otherwise,
or in the earnings, business affairs or business prospects of the
Company, whether or not arising in the ordinary course of business,
and (B) there have been no material transactions entered into by
the Company other than those in the ordinary course of
business.
(l) The Company is not in violation of
its Restated Articles of Incorporation, as amended, or bylaws, or
in default in the performance or observance of any material
obligation, agreement, covenant or condition contained in any
contract, indenture, mortgage, loan agreement, note, lease or other
instrument to which it is a party or by which it or its properties
may be bound; the execution and delivery of this Agreement and the
Indenture and the consummation of the transactions contemplated
herein and therein will not conflict with, constitute a breach of
or default under, or result in the creation or imposition of any
lien, charge or encumbrance upon any material property or assets of
the Company or any of its subsidiaries pursuant to, any contract,
indenture, mortgage, loan agreement, note, lease or other
instrument to which the Company or any of its subsidiaries is a
party or by which the Company or any of its subsidiaries may be
bound or to which any of the material property or assets of the
Company or any such subsidiary is subject, nor will such action
result in any violation of the Restated Articles of Incorporation,
as amended, or bylaws of the Company or any law, administrative
regulation or administrative or court order or decree.
(m) The Company has made all necessary
filings and obtained all necessary consents, orders or approvals
from the Federal Energy Regulatory Commission (“
FERC ”) and the Illinois Commerce Commission
(“ ICC
”) in connection with the
issuance and sale of the Offered Securities and the application of
the proceeds thereof, and no consent, approval, authorization,
order or decree of any other court or governmental agency or body
is required for the consummation by the Company of the transactions
contemplated by this Agreement, except such as may be required
under state securities (“ Blue Sky ”) laws.
(n) Except as may be set forth in the
Registration Statement, the Disclosure Package and the Prospectus,
there is no action, suit or proceeding before or by any court or
governmental agency or body, domestic or foreign, now pending, or,
to the knowledge of the Company, threatened against or affecting,
the Company which would be reasonably likely to result in any
material adverse change in the condition, financial or otherwise,
or in the earnings, business affairs or business prospects of the
Company, or would be reasonably likely to materially and adversely
affect its properties or assets or would be reasonably likely to
materially and adversely affect the consummation of the
transactions contemplated by this Agreement or the Indenture; and
there are no contracts or documents of the Company which are
required to be filed as exhibits to the Registration Statement by
the Securities Act or by the Rules and Regulations which have not
been so filed.
(o) Any certificate signed by any
director or officer of the Company and delivered to the
Underwriters or to counsel for the Underwriters in connection with
the offering of the Offered
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Securities shall be deemed a
representation and warranty by the Company to the Underwriters as
to the matters covered thereby on the date of such
certificate.
3. Purchase, Sale and Delivery of
Offered Securities. On the basis of the representations, warranties
and agreements herein contained, but subject to the terms and
conditions herein set forth, the Company agrees to sell to the
Underwriters, and the Underwriters agree, severally and not
jointly, to purchase from the Company the Offered Securities, at a
purchase price of 99.007% of the principal amount thereof, the
respective principal amounts of the Offered Securities set forth
opposite the names of the several Underwriters in Schedule A
hereto.
The Company will deliver against
payment of the purchase price the Offered Securities to be
purchased by each Underwriter hereunder and to be offered and sold
by each Underwriter in the form of one or more global securities in
registered form without interest coupons (the “
Global Securities
”) deposited with the Trustee as
custodian for the Depositary Trust Company (“
DTC ”) and
registered in the name of Cede & Co., as nominee for DTC.
Interests in the Global Securities will be held only in book-entry
form through DTC, except in the limited circumstances described in
the Disclosure Package and the Prospectus.
Payment for the Offered Securities
shall be made by the Representatives in Federal (same day) funds by
wire transfer to an account at a bank acceptable to the
Representatives drawn to the order of the Company, at the office of
Latham & Watkins LLP, 885 Third Avenue, New York, New York,
10022, at 10:00 A.M., (New York time), on March 25, 2008, or at
such other time not later than seven full business days thereafter
as the Representatives and the Company determine, such time being
herein referred to as the “ Closing Date ,” against delivery to the Trustee as
custodian for DTC of the Global Securities. The Global Securities
will be made available for checking at the above office of Latham
& Watkins LLP at least 24 hours prior to the Closing
Date.
4. Representations by Underwriters; Resale by
Underwriters .
(a) Each of the Underwriters severally
represents and agrees that (i) it has only communicated or caused
to be communicated and will only communicate or cause to be
communicated any invitation or inducement to engage in investment
activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000 (the “ FSMA ”)) received by it in connection with the issue or
sale of any Offered Securities in circumstances in which section
21(1) of the FSMA does not apply to the Company; and (ii) it has
complied and will comply with all applicable provisions of the FSMA
with respect to anything done by it in relation to the Offered
Securities in, from or otherwise involving the United
Kingdom.
(b) In relation to each Member State
of the European Economic Area which has implemented the Prospectus
Directive (each, a Relevant Member State), each underwriter has
represented and agreed that with effect from and including the date
on which the Prospectus Directive is implemented in that Relevant
Member State (the Relevant Implementation Date) it has not made and
will not make an offer of notes to the public in that Relevant
Member State prior to the publication of a prospectus in relation
to the notes which has been approved by the competent authority in
that Relevant Member State or, where appropriate, approved in
another Relevant Member State and notified to the competent
authority in that Relevant Member State, all in accordance with the
Prospectus Directive, except that it may, with effect from and
including the Relevant Implementation Date, make an offer of the
notes to the public in that Relevant Member State at any
time:
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(i) to legal entities which are
authorised or regulated to operate in the financial markets or, if
not so authorised or regulated, whose corporate purpose is solely
to invest in securities;
(ii) to any legal entity which has two
or more of (1) an average of at least 250 employees during the last
financial year; (2) a total balance sheet of more than
€43,000,000; and (3) an annual net turnover of more than
€50,000,000, as shown in its last annual or consolidated
accounts; or
(iii) in any other circumstances which
do not require the publication by the Issuer of a prospectus
pursuant to Article 3 of the Prospectus Directive.
For the purposes of this provision,
the expression an “offer of notes to the public” in
relation to any notes in any Relevant Member State means the
communication in any form and by any means of sufficient
information on the terms of the offer and the notes to be offered
so as to enable an investor to decide to purchase or subscribe the
notes, as the same may be varied in that Member State by any
measure implementing the Prospectus Directive in that Member State
and the expression Prospectus Directive means Directive 2003/71/EC
and includes any relevant implementing measure in each Relevant
Member State.
(c) In Hong Kong, it has not offered
or sold the Offered Securities by means of any document other than
(i) in circumstances which do not constitute an offer to the
public within the meaning of the Companies Ordinance (Cap. 32, Laws
of Hong Kong), or (ii) to “professional investors”
within the meaning of the Securities and Futures Ordinance (Cap.
571, Laws of Hong Kong) and any rules made thereunder, or
(iii) in other circumstances which do not result in the
document being a “prospectus” within the meaning of the
Companies Ordinance (Cap. 32, Laws of Hong Kong), and no
advertisement, invitation or document relating to the Offered
Securities may be issued or may be in the possession of any person
for the purpose of issue (in each case whether in Hong Kong or
elsewhere), which is directed at, or the contents of which are
likely to be accessed or read by, the public in Hong Kong (except
if permitted to do so under the laws of Hong Kong) other than with
respect to Offered Securities which are or are intended to be
disposed of only to persons outside Hong Kong or only to
“professional investors” within the meaning of the
Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and
any rules made thereunder.
It will not circulate or distribute
the Prospectus or any other document or material in connection with
the offer or sale, or invitation for subscription or purchase, of
the Offered Securities, nor will it offer or sell, or be made the
subject of an invitation for subscription or purchase, the Offered
Securities, whether directly or indirectly, to persons in Singapore
other than (i) to an institutional investor under Section 274
of the Securities and Futures Act, Chapter 289 of Singapore (the
“ FSA
”), (ii) to a relevant
person, or any person pursuant to Section 275(1A), and in
accordance with the conditions, specified in Section 275 of the SFA
or (iii) otherwise pursuant to, and in accordance with the
conditions of, any other applicable provision of the
SFA.
(d) It will not offer or sell any
Offered Securities, directly or indirectly, in Japan or to, or for
the benefit of, any resident of Japan (which term as used herein
means any person resident in Japan, including any corporation or
other entity organized under the laws of Japan), or to others for
re-offering or resale, directly or indirectly, in Japan or to a
resident of Japan except pursuant to an exemption from the
registration requirements of, and otherwise in compliance with, the
Securities and Exchange Law and any other applicable laws,
regulations and ministerial guidelines of Japan; and;
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5. Certain Agreements of the Company
. The Company agrees with the several
Underwriters that:
(a) It will prepare the Prospectus in
a form approved by the Representatives and will file such
Prospectus pursuant to Rule 424(b) under the Securities Act not
later than the Commission’s close of business on the second
business day following the date of this Agreement; to make no
further amendment or any supplement to the Registration Statement,
or the Prospectus prior to the Closing Date that shall be
reasonably disapproved by the Representatives promptly after
reasonable notice thereof; to advise the Representatives, promptly
after it receives notice thereof, of the time when any amendment to
the Registration Statement has been filed or becomes effective or
any amendment or supplement to the Prospectus has been filed and to
furnish the Representatives with copies thereof; to prepare a final
term sheet, containing solely a description of the Offered
Securities, in a form approved by the Representatives and to file
such term sheet pursuant to Rule 433(d) under the Securities Act
within the time required by such Rule; to file promptly all other
material required to be filed by the Company with the Commission
pursuant to Rule 433(d) under the Securities Act; to file promptly
all reports and any definitive proxy or information statements
required to be filed by the Company with the Commission pursuant to
Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to
the date of the Prospectus and for so long as the delivery of a
prospectus (or in lieu thereof, the notice referred to in Rule
173(a) under the Securities Act) is required in connection with the
offering or sale of the Offered Securities; to advise the
Representatives, promptly after it receives notice thereof, of the
issuance by the Commission of any stop order or of any order
preventing or suspending the use of any Preliminary Prospectus, the
Disclosure Package or the Prospectus, of the suspension of the
qualification of the Offered Securities for offering or sale in any
jurisdiction, of the initiation or threatening of any proceeding
for any such purpose, or of any request by the Commission for the
amending or supplementing of the Registration Statement, the
Disclosure Package or the Prospectus or for additional information;
and, in the event of the issuance of any stop order or of any order
preventing or suspending the use of any Preliminary Prospectus, the
Disclosure Package or the Prospectus or suspending any such
qualification, to promptly use its best efforts to obtain the
withdrawal of such order; and in the event of any such issuance of
a notice of objection, promptly to take such steps including,
without limitation, amending the Registration Statement or filing a
new registration statement, at its own expense, as may be necessary
to permit offers and sales of the Offered Securities by the
Underwriters (references herein to the Registration Statement shall
include any such amendment or new registration
statement).
(b) Prior to 10:00 a.m., New York City
time, on the New York business day next succeeding the date of this
Agreement and from time to time, to furnish the Underwriters with
written and electronic copies of the Prospectus in New York City in
such quantities as the Underwriters may reasonably request, and, if
the delivery of a prospectus (or in lieu thereof, the notice
referred to in Rule 173(a) under the Securities Act) is required at
any time prior to the expiration of nine months after the time of
issue of the Prospectus in connection with the offering or sale of
the Offered Securities and if at such time any event shall have
occurred as a result of which the Prospectus as then amended or
supplemented would include an 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 when such Prospectus (or in lieu thereof, the notice
referred to in Rule 173(a) under the Securities Act) is delivered,
not misleading, or, if for any other reason it shall be necessary
during such same period to amend or supplement the Prospectus or to
file under the Exchange Act any document incorporated by reference
in the Prospectus in order to comply with the Securities Act, the
Exchange Act or the Trust Indenture Act, to notify the
Representatives and upon the Representatives’ request to file
such document and to prepare and furnish without charge to each
Representatives and to any
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dealer in securities as many written
and electronic copies as the Underwriters may from time to time
reasonably request of an amended Prospectus or a supplement to the
Prospectus that will correct such statement or omission or effect
such compliance; and in case any Underwriter is required to deliver
a prospectus (or in lieu thereof, the notice referred to in Rule
173(a) under the Securities Act) in connection with sales of any of
the Offered Securities at any time nine months or more after the
time of issue of the Prospectus, upon such Underwriter’s
request but at the expense of such Representatives, to prepare and
deliver to such Underwriter as many written and electronic copies
as such Underwriter may request of an amended or supplemented
Prospectus complying with Section 10(a)(3) of the Securities
Act.
(c) Each Issuer Free Writing
Prospectus, as of its issue date and at all subsequent times
through the completion of the public offer and sale of the Offered
Securities or until any earlier date that the Company notified or
notifies the Underwriters 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 then contained in
the Registration Statement. 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 then
contained in the Registration Statement or as a result of which
such Issuer Free Writing Prospectus, if republished immediately
following such event or development, would include an untrue
statement of a material fact or omitted or would 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, (i) the Company has promptly notified or will promptly
notify the Underwriters and (ii) the Company has promptly amended
or will promptly amend or supplement such Issuer Free Writing
Prospectus to eliminate or correct such conflict, untrue statement
or omission.
(d) The Company will deliver to each
Underwriter, without charge, such number of copies of each Free
Writing Prospectus prepared by or on behalf of or used or referred
to by the Company as each such Underwriter may reasonably request.
To the extent applicable, each such document furnished to the
Underwriters will be identical to any electronically transmitted
copies thereof filed with the Commission, except to the extent
permitted by Regulation S-T.
(e) The Company will advise the
Underwriters promptly of any additional action by the FERC or ICC
pertaining to the Offered Securities.
(f) The Company will furnish promptly
to the Representatives and to counsel for the Underwriters one
signed copy of the Registration Statement as originally filed and
each amendment thereto filed prior to the date hereof and relating
to the Offered Securities, including all documents incorporated
therein by reference and all consents and exhibits filed
therewith.
(g) The Company will deliver promptly
to the Underwriters such reasonable number of the following
documents as the Underwriters may request: (i) the Prospectus
and the Disclosure Package and (ii) to the extent not available via
the Commission’s Electronic Data, Gathering, Analysis and
Retrieval System (“ EDGAR ”), (1) conformed copies of the Registration
Statement (excluding exhibits other than the computation of the
ratio of earnings to fixed charges, the Indenture, and this
Agreement), and (2) any documents incorporated by reference in the
Prospectus.
(h) In connection with the offering,
until the earlier of (i) 180 days following the Closing Date and
(ii) the date the Representatives shall have notified the Company
of the completion of the resale of the Offered Securities, neither
the Company nor any of its affiliates
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has or will, either alone or with one
or more other persons, bid for or purchase for any account in which
it or any of its affiliates has a beneficial interest any Offered
Securities or attempt to induce any person to purchase any Offered
Securities; and neither it nor any of its affiliates will make bids
or purchases for the purpose of creating actual, or apparent,
active trading in, or of raising the price of, the Offered
Securities.
(i) From the date hereof through and
including the Closing Date, the Company will not, without the prior
written consent of the Representatives, offer, sell, contract to
sell, pledge or otherwise dispose of, directly or indirectly, or
file with the Commission a registration statement under the
Securities Act relating to, any United States dollar-denominated
debt securities issued or guaranteed by the Company and having a
maturity of more than one year from the date of issue.
(j) As soon as practicable, the
Company shall make generally available to its security holders and
to deliver to the Representatives an earnings statement, conforming
with the requirements of Section 11(a) of the Securities Act and
Rule 158 of the Rules and Regulations, covering a period of at
least twelve months beginning after the effective date of the
Registration Statement as defined in Rule 158(c) of the Rules and
Regulations.
(k) During the period of five years
hereafter, or such lesser period as any of the Offered Securities
shall be outstanding, the Company shall furnish to the
Representatives or make generally available on EDGAR, (i) as soon
as available, a copy of each report of the Company mailed to its
shareholders or report filed by the Company with the Commission and
(ii) from time to time such other information concerning the
Company as the Representatives may reasonably request.
(l) The Company will endeavor, in
cooperation with the Representatives, to qualify the Offered
Securities for offering and sale under the applicable securities
laws of such states and other jurisdictions of the United States as
the Representatives may designate, and will maintain such
qualifications in effect for as long as may be required for the
distribution of the Offered Securities; provided, however, that the
Company shall not be obligated to file any general consent to
service of process or to qualify as a foreign corporation in any
jurisdiction in which it is not so qualified. The
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