5.625% Senior Notes due
2019
Barclays
Capital Inc.
Deutsche Bank Securities Inc.
J.P. Morgan Securities Inc.
Banc of America Securities LLC
BBVA Securities Inc.
BMO Capital Markets Corp.
Citigroup Global Markets Inc.
Comerica Securities Inc.
Fortis Securities LLC
Goldman, Sachs & Co.
Mitsubishi UFJ Securities (USA), Inc.
Morgan Stanley & Co. Incorporated
RBC Capital Markets Corporation
Scotia Capital (USA) Inc.
SG Americas Securities, LLC
UBS Securities LLC
Wachovia Capital Markets, LLC
c/o J.P. Morgan Securities Inc.
270 Park Avenue
New York, New York 10017
EOG Resources,
Inc., a Delaware corporation (the “ Company ”),
proposes, subject to the terms and conditions stated herein, to
issue and sell to Barclays Capital Inc., Deutsche Bank Securities
Inc., J.P. Morgan Securities Inc., Banc of America Securities LLC,
BBVA Securities Inc., BMO Capital Markets Corp., Citigroup Global
Markets Inc., Comerica Securities Inc., Fortis Securities LLC,
Goldman, Sachs & Co., Mitsubishi UFJ Securities (USA), Inc.,
Morgan Stanley & Co. Incorporated, RBC Capital Markets
Corporation, Scotia Capital (USA) Inc., SG Americas
Securities, LLC, UBS Securities LLC and Wachovia Capital Markets,
LLC (collectively, the “ Underwriters ,” which
term shall also include any underwriter substituted as hereinafter
provided in Section 11), acting severally and not jointly, the
aggregate principal amount of 5.625% Senior Notes due 2019 having
the terms set forth in Annex I hereto (the
“
Notes ”), set forth opposite their respective names on
Annex II hereto. The Notes are being issued under an
indenture, dated as of May 18, 2009 (the “
Indenture ”), between the Company and Wells Fargo
Bank, NA, as Trustee.
1. The
Company has prepared and filed with the Securities and Exchange
Commission (the “ Commission ”) under the
Securities Act of 1933, as amended, and the rules and regulations
of the Commission thereunder (collectively, the “
Securities Act ”), a registration statement on Form
S-3 (File No. 333-159301), including a prospectus, relating to
the Company’s debt securities, common stock and preferred
stock, and such registration statement has become effective. Such
registration statement, as amended at the time it became effective,
including the exhibits thereto, is referred to herein as the
“ Registration Statement ”; and as used herein,
the term “ Preliminary Prospectus ” means any
preliminary prospectus relating to the Notes, including any
preliminary prospectus supplement thereto relating to the Notes,
filed with the Commission pursuant to Rule 424 under the
Securities Act and the prospectus included in the Registration
Statement at the time of its effectiveness that omits the
information, if any, deemed pursuant to Rule 430A, 430B or
430C under the Securities Act to be part of the registration
statement at the time of its effectiveness (“
Rule 430 Information ”), and the term “
Prospectus ” means the prospectus relating to the
Notes, including any prospectus supplement thereto relating to the
Notes, in the form first used (or made available upon request of
purchasers pursuant to Rule 173 under the Securities Act) in
connection with confirmation of sales of the Notes. Any reference
in this Agreement to the Registration Statement, any Preliminary
Prospectus or the Prospectus shall be deemed to refer to and
include the documents incorporated by reference therein pursuant to
Item 12 of Form S-3 under the Securities Act, as of the
effective date of the Registration Statement or the date of such
Preliminary Prospectus or the Prospectus, as the case may be, and
any reference to “amend,” “amendment” or
“supplement” with respect to the Registration
Statement, any Preliminary Prospectus or the Prospectus shall be
deemed to refer to and include any documents filed after such date
under the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission thereunder (collectively,
the “ Exchange Act ”) that are deemed to be
incorporated by reference therein. Capitalized terms used but not
defined herein shall have the meanings given to such terms in the
Registration Statement and the Prospectus.
At or prior to
2:14 p.m., New York City time, on the date of this Agreement (the
time when sales of the Notes were first made, the “ Time
of Sale ”), the Company had prepared the following
information (collectively, the “ Time of Sale
Information ”): a Preliminary Prospectus dated
May 18, 2009, and each “free-writing prospectus”
(as defined pursuant to Rule 405 under the Securities Act)
listed on Annex III hereto as constituting part of the Time
of Sale Information.
2. The
Company agrees to issue and sell the Notes to the several
Underwriters as provided in this Agreement, and each Underwriter,
on the basis of the representations, warranties and agreements set
forth herein and subject to the conditions set forth herein,
agrees, severally and not jointly, to purchase from the Company the
respective principal amount of Notes set forth opposite such
Underwriter’s name on Annex II hereto at a price equal
to 99.166% of the principal amount thereof, plus accrued interest,
if any, from May 21, 2009 to the Closing Date (as defined
below). The Company will not be obligated to deliver any of the
Notes except upon payment for all the Notes to be purchased as
provided herein.
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The Company
understands that the Underwriters intend to make a public offering
of the Notes as soon after the effectiveness of this Agreement as
in the judgment of Barclays Capital Inc., Deutsche Bank Securities
Inc. and J.P. Morgan Securities Inc. (the “
Representatives ”) is advisable, and initially to
offer the Notes on the terms set forth in the Prospectus. The
Company acknowledges and agrees that the Underwriters may offer and
sell Notes to or through any affiliate of an Underwriter and that
any such affiliate may offer and sell Notes purchased by it to or
through any Underwriter.
Payment for and
delivery of the Notes will be made at the offices of Bracewell
& Giuliani LLP, 711 Louisiana Street, Suite 2300, Houston,
Texas, at 10:00 a.m., New York City time, on May 21,
2009, or at such other time or place on the same or such other
date, not later than the fifth business day thereafter, as the
Representatives and the Company may agree upon in writing. The time
and date of such payment and delivery is referred to herein as the
“ Closing Date ”.
Payment for the
Notes shall be made by wire transfer in immediately available funds
to the account(s) specified by the Company to the Representatives
against delivery to the nominee of The Depository Trust Company,
for the account of the Underwriters, of one or more global notes
representing the Notes (collectively, the “ Global
Note ”), with any transfer taxes payable in connection
with the sale of the Notes duly paid by the Company. The Global
Note will be made available for inspection by the Representatives
not later than 1:00 p.m., New York City time, on the business day
prior to the Closing Date.
The Company
acknowledges and agrees that the Underwriters are acting solely in
the capacity of an arm’s length contractual counterparty to
the Company with respect to the offering of Notes contemplated
hereby (including in connection with determining the terms of the
offering) and not as a financial advisor or a fiduciary to, or an
agent of, the Company or any other person. Additionally, neither
the Representatives nor any other Underwriter is advising the
Company or any other person as to any legal, tax, investment,
accounting or regulatory matters in any jurisdiction. The Company
shall consult with its own advisors concerning such matters and
shall be responsible for making its own independent investigation
and appraisal of the transactions contemplated hereby, and the
Underwriters shall have no responsibility or liability to the
Company with respect thereto. Any review by the Underwriters of the
Company, the transactions contemplated hereby or other matters
relating to such transactions will be performed solely for the
benefit of the Underwriters and shall not be on behalf of the
Company.
3. The
Company represents and warrants to, and agrees with, each
Underwriter that:
(a) The
Registration Statement is an “automatic shelf registration
statement” as defined under Rule 405 of the Securities
Act that has been filed with the Commission not earlier than three
years prior to the date hereof; and no notice of objection of the
Commission to the use of such registration statement or any
post-effective amendment thereto pursuant to Rule 401(g)(2)
under the Securities Act has been received by the Company. No order
suspending the effectiveness of the Registration Statement has been
issued by the Commission, and no proceeding for that purpose or
pursuant to Section 8A of the Securities Act against the
Company or related to the offering has been initiated or threatened
by the Commission; as of the applicable effective date of the
Registration
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Statement and
any amendment thereto, the Registration Statement complied and will
comply in all material respects with the Securities Act and the
Trust Indenture Act of 1939, as amended, and the rules and
regulations of the Commission thereunder (collectively, the “
Trust Indenture Act ”), and did not and will not
contain any 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 not misleading; and as of the date
of the Prospectus and any amendment or supplement thereto and as of
the Closing Date, the Prospectus will not contain any 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 made, not misleading; provided that the Company makes no
representation and warranty with respect to (i) that part of
the Registration Statement that constitutes the Statement of
Eligibility and Qualification (Form T-1) of the Trustee under the
Trust Indenture Act or (ii) any statements or omissions made
in reliance upon and in conformity with information relating to any
Underwriter furnished to the Company in writing by such Underwriter
through the Representatives expressly for use in the Registration
Statement and the Prospectus and any amendment or supplement
thereto.
(b) The Time of
Sale Information, at the Time of Sale did not, and at the Closing
Date will not, contain any 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; provided that the Company makes no
representation and warranty with respect to any statements or
omissions made in reliance upon and in conformity with information
relating to any Underwriter furnished to the Company in writing by
such Underwriter through the Representatives expressly for use in
such Time of Sale Information. No statement of material fact
included in the Prospectus has been omitted from the Time of Sale
Information and no statement of material fact included in the Time
of Sale Information that is required to be included in the
Prospectus has been omitted therefrom.
(c) The Company
(including its agents and representatives, other than the
Underwriters in their capacity as such) has not prepared, made,
used, authorized, approved or referred to and will not prepare,
make, use, authorize, approve or refer to any “written
communication” (as defined in Rule 405 under the
Securities Act) that constitutes an offer to sell or solicitation
of an offer to buy the Notes (each such communication by the
Company or its agents and representatives (other than a
communication referred to in clauses (i), (ii) and
(iii) below) an “ Issuer Free Writing Prospectus
”) other than (i) any document not constituting a
prospectus pursuant to Section 2(a)(10)(a) of the Securities
Act or Rule 134 under the Securities Act, (ii) the
Preliminary Prospectus, (iii) the Prospectus, (iv) the
documents listed on Annex III hereto as constituting the
Time of Sale Information and (v) any electronic road show or
other written communications, in each case approved in writing in
advance by the Representatives. Each such Issuer Free Writing
Prospectus complied in all material respects with the Securities
Act, has been or will be (within the time period specified in
Rule 433) filed in accordance with the Securities Act (to the
extent required thereby) and, when taken together with the
Preliminary Prospectus filed prior to the first use of such Issuer
Free Writing Prospectus, did not, and at the Closing Date will not,
contain any
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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;
provided that the Company makes no representation and warranty with
respect to any statements or omissions made in each such Issuer
Free Writing Prospectus in reliance upon and in conformity with
information relating to any Underwriter furnished to the Company in
writing by such Underwriter through the Representatives expressly
for use in any Issuer Free Writing Prospectus.
(d) The documents
incorporated by reference in the Registration Statement, the
Prospectus and the Time of Sale Information, when they became
effective or were filed with the Commission, as the case may be,
conformed in all material respects to the requirements of the
Exchange Act and none of such documents contained any 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, in the light of the circumstances under which they were
made, not misleading; and any further documents so filed and
incorporated by reference in the Registration Statement, the
Prospectus or the Time of Sale Information, when such documents
become effective or are filed with the Commission, as the case may
be, will conform in all material respects to the requirements of
the Securities Act or the Exchange Act, as applicable, and will not
contain any 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, in the light of the circumstances under
which they were made, not misleading.
(e) Since the
respective dates as of which information is given in the
Registration Statement, the Time of Sale Information and the
Prospectus, there has not been any material adverse change in the
general affairs, prospects, management, financial position or
results of operations of the Company and its consolidated
subsidiaries taken as a whole, whether or not arising in the
ordinary course of business, in each case other than as set forth
in or contemplated by the Registration Statement, the Time of Sale
Information and the Prospectus;
(f) The Company is
a corporation duly incorporated and validly existing in good
standing under the laws of the State of Delaware, has full
corporate power and authority to own its properties and to conduct
its business as such business is described in the Registration
Statement, the Time of Sale Information and the Prospectus, and is
duly qualified to do business and is in good standing as a foreign
corporation in each jurisdiction in which the ownership of its
properties or the conduct of its business requires such
qualification, other than where the failure to be so qualified or
in good standing would not have a material adverse effect on the
Company;
(g) Each of the
Company’s subsidiaries has been duly incorporated and is
validly existing as a corporation under the laws of its
jurisdiction of incorporation, with full corporate power and
authority to own its properties and to conduct its business as such
business is described in the Registration Statement, the Time of
Sale Information and the Prospectus, and has been duly qualified as
a foreign corporation for the transaction of business and is in
good standing under the laws of each jurisdiction in which it owns
or leases properties, or conducts any business, so as to require
such
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qualification,
other than where the failure to be so qualified or in good standing
would not have a material adverse affect on the Company and its
consolidated subsidiaries, taken as a whole; and all the
outstanding shares of capital stock of each subsidiary of the
Company have been duly authorized and validly issued, are fully
paid and nonassessable, and (except in the case of foreign
subsidiaries, for directors’ qualifying shares) are owned by
the Company, directly or indirectly, free and clear of all liens,
encumbrances, security interests and claims;
(h) This Agreement
has been duly authorized, executed and delivered by the
Company;
(i) The Notes have
been duly authorized for issuance and sale by the Company and, when
issued, authenticated and delivered pursuant to the provisions of
this Agreement and of the Indenture against payment of the
consideration therefor in accordance with this Agreement, the Notes
will be valid and binding obligations of the Company, entitled to
the benefits of the Indenture and enforceable against the Company
in accordance with their terms, subject, as to enforcement, to
bankruptcy, insolvency, reorganization, moratorium, fraudulent
transfer and similar laws relating to or affecting creditors’
rights generally and to general equity principles; and the Notes
will conform in all material respects to the description thereof in
the Registration Statement, the Time of Sale Information and the
Prospectus;
(j) The Indenture
has been duly authorized by the Company, has been duly qualified
under the Trust Indenture Act and, assuming due authorization,
execution and delivery thereof by the Trustee, constitutes a valid
and binding agreement of the Company, enforceable against the
Company in accordance with its terms, subject, as to enforcement,
to bankruptcy, insolvency, reorganization, moratorium, fraudulent
transfer and similar laws relating to or affecting creditors’
rights generally and to general equity principles; and the
Indenture conforms in all material respects to the description
thereof in the Registration Statement, the Time of Sale Information
and the Prospectus;
(k) The issuance
and delivery of the Notes and the execution and delivery of this
Agreement, the consummation of the transactions contemplated by the
Indenture or this Agreement and the compliance with the terms of
the Indenture, the Notes and this Agreement are within the
corporate powers of the Company, and do not and will not conflict
with, violate or result in a breach of any of the terms or
provisions of, or constitute a default under, (i) the
certificate of incorporation, as amended or restated, or bylaws, as
amended, of the Company, (ii) any indenture, mortgage or other
agreement or instrument to which the Company or any of its
subsidiaries is a party or by which any of their respective
properties or assets is subject, or (iii) any existing
applicable law, rule, regulation, judgment, order or decree of any
government, governmental instrumentality or court having
jurisdiction over the Company or any of its subsidiaries or any of
their respective properties, other than in the case of (ii) or
(iii) above, for any such conflict, violation, breach or
default that would not, individually or in the aggregate,
reasonably be expected to have a material adverse effect on the
Company or materially and adversely affect the ability of the
Company to perform its obligations under this Agreement; and no
consent, approval, authorization, order, registration or
qualification of or with any such
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governmental
instrumentality or court is required for the issue and sale of the
Notes or the consummation by the Company of the transactions
contemplated by this Agreement or the Indenture, except as have
been obtained under the Securities Act and the Trust Indenture Act
and such consents, approvals, authorizations, registrations or
qualifications as may be required under state securities or Blue
Sky laws in connection with the purchase and distribution of the
Notes by the Underwriters;
(l) Other than as
set forth in the Registration Statement, the Time of Sale
Information and the Prospectus, there are no legal or governmental
proceedings pending to which the Company or any of its subsidiaries
is a party or of which any of their respective properties or assets
is the subject that are required to be described in the
Registration Statement, the Time of Sale Information and the
Prospectus, or that could adversely affect the consummation of the
transactions contemplated by this Agreement, the terms of the Notes
or the Indenture; and, to the knowledge of the Company, no such
proceedings are threatened or contemplated by governmental
authorities or by others;
(m) The Company
and its subsidiaries have all licenses, franchises, permits,
authorizations, approvals and orders and other concessions of and
from all governmental regulatory officials and bodies that are
necessary to own or lease their respective properties and conduct
their respective businesses as described in the Registration
Statement, the Time of Sale Information and the Prospectus, except
for such licenses, franchises, permits, authorizations, approvals,
orders or concessions as to which the failure to obtain will not
have a material adverse effect on the financial condition or
results of operations of the Company and its consolidated
subsidiaries taken as a whole;
(n) The Company is
not, and after giving effect to the offering and sale of the Notes
and the application of the net proceeds therefrom will not be, an
“investment company” as such term is defined in the
Investment Company Act of 1940, as amended (the “
Investment Company Act ”);
(o) The
consolidated financial statements of the Company incorporated by
reference in the Registration Statement, the Time of Sale
Information and the Prospectus, together with related schedules and
notes, comply in all material respects with the applicable
requirements of the Securities Act and the Exchange Act, as
applicable, and present fairly the consolidated financial position,
results of operations and changes in financial position of the
Company and its consolidated subsidiaries on the basis stated
therein at the respective dates or for the respective periods to
which they apply; such statements and related schedules and notes
have been prepared in accordance with generally accepted accounting
principles consistently applied throughout the periods involved,
except as otherwise disclosed therein; the supporting schedules, if
any, incorporated by reference in the Registration Statement, the
Time of Sale Information and the Prospectus present fairly in
accordance with generally accepted accounting principles the
information required to be stated therein; any summary or selected
financial data included or incorporated by reference in the
Registration Statement, the Time of Sale Information and the
Prospectus present fairly the information shown therein and, to the
extent based upon or derived from the financial statements, have
been compiled on a basis consistent with the financial statements
presented therein except as
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otherwise
stated therein or the notes thereto; and the other financial and
statistical information and data included or incorporated by
reference in the Registration Statement, the Time of Sale
Information and the Prospectus are, in all material respects,
accurately presented and prepared on a basis consistent with such
financial statements and the books and records of the
Company;
(p) The Company is
not an ineligible issuer and is a well-known seasoned issuer, in
each case as defined under the Securities Act, in each case at the
times specified in the Securities Act in connection with the
offering of the Notes; and the Company has paid the registration
fee for this offering of the Notes pursuant to Rule 457 under
the Securities Act;
(q) The Company
and its subsidiaries maintain an effective system of
“disclosure controls and procedures” (as defined in
Rule 13a-15(e) of the Exchange Act) that is designed to ensure
that information required to be disclosed by the Company in reports
that it files or submits under the Exchange Act is recorded,
processed, summarized and reported within the time periods
specified in the Commission’s rules and forms, including
controls and procedures designed to ensure that such information is
accumulated and communicated to the Company’s management as
appropriate to allow timely decisions regarding required
disclosure; and the Company and its subsidiaries have carried out
evaluations of the effectiveness of their disclosure controls and
procedures as required by Rule 13a-15 of the Exchange Act;
and
(r) The Company
and its subsidiaries maintain systems of “internal control
over financial reporting” (as defined in Rule 13a-15(f)
of the Exchange Act) that comply with the requirements of the
Exchange Act and have been designed by, or under the supervision
of, their respective principal executive and principal financial
officers, or persons performing similar functions, to provide
reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles, including, but not limited to, internal accounting
controls sufficient to provide reasonable assurance that
(i) transactions are executed in accordance with
management’s general or specific authorizations;
(ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with generally
accepted accounting principles and to maintain asset
accountability; (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 the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences; and
except as disclosed in the Registration Statement, the Time of Sale
Information and the Prospectus, there are no material weaknesses in
the Company’s internal controls.
4. The
Company agrees with each Underwriter as follows:
(a) To file the
Prospectus in a form approved by the Underwriters with the
Commission within the time periods specified by Rule 424(b) and
Rule 430A, 430B or 430C under the Securities Act; and to file
any Issuer Free Writing Prospectus (including the Term Sheet in the
form of Annex IV hereto) to the extent required by
Rule 433 under
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the Securities
Act; and 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 is required in connection
with the offering or sale of the Notes; and to furnish copies of
the Prospectus and each Issuer Free Writing Prospectus (to the
extent not previously delivered) to the Underwriters in New York
City prior to 10:00 a.m., New York City time, on the business
day next succeeding the date of this Agreement in such quantities
as the Representatives may reasonably request;
(b) To cooperate
with the Underwriters in qualifying the Notes for offer and sale
under the securities or Blue Sky laws of such jurisdictions as the
Representatives may reasonably request; provided that in no event
shall the Company be obligated to qualify to do business in any
jurisdiction where it is not now so qualified, to take any action
which would subject it to service of process in suits, other than
those arising out of the offering or sale of the Notes, in any
jurisdiction where it is not now so subject, to qualify in any
jurisdiction as a broker-dealer or to subject itself to any taxing
authority where it is not now so subject;
(c) To deliver,
without charge, to each Underwriter during the Prospectus Delivery
Period (as defined below), as many copies of the Prospectus
(including all amendments and supplements thereto) and each Issuer
Free Writing Prospectus as the Representatives may reasonably
request. As used herein, the term “ Prospectus Delivery
Period ” means such period of time after the first date
of the public offering of the Notes as in the opinion of counsel
for the Underwriters a prospectus relating to the Notes is required
by law to be delivered (or required to be delivered but for
Rule 172 under the Securities Act) in connection with sales of
the Notes by any Underwriter or dealer;
(d) Before making,
preparing, using, authorizing, approving, referring to or filing
any Issuer Free Writing Prospectus, and before filing any amendment
or supplement to the Registration Statement or the Prospectus, to
furnish to the Representatives and counsel for the Underwriters a
copy of the proposed Issuer Free Writing Prospectus, amendment or
supplement for review and to not make, prepare, use, authorize,
approve, refer to or file any such Issuer Free Writing Prospectus
or file any such proposed amendment or supplement to which the
Representatives reasonably object;
(e) To advise the
Representatives promptly, and confirm such advice in writing,
(i) when any amendment to the Registration Statement has been
filed or becomes effective; (ii) when any supplement to the
Prospectus or any amendment to the Prospectus or any Issuer Free
Writing Prospectus has been filed; (iii) of any request by the
Commission for any amendment to the Registration Statement or any
amendment or supplement to the Prospectus or the receipt of any
comments from the Commission relating to the Registration Statement
or any other request by the Commission for any additional
information; (iv) of the issuance by the Commission of any
order suspending the effectiveness of the Registration Statement or
preventing or suspending the use of any Preliminary Prospectus or
the Prospectus or the initiation or threatening of any proceeding
for that purpose or pursuant to Section 8A of the Securities
Act; (v) of the occurrence of any event within the Prospectus
Delivery Period as a result of which the
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Prospectus, the
Time of Sale Information or any Issuer Free Writing Prospectus as
then amended or supplemented would include any 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 existing when the
Prospectus, the Time of Sale Information or any such Issuer Free
Writing Prospectus is delivered to a purchaser, not misleading;
(vi) of the receipt by the Company of any notice of objection
of the Commission to the use of the Registration Statement or any
post-effective amendment thereto pursuant to Rule 401(g)(2)
under the Securities Act; and (vii) of the receipt by
t
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