Exhibit 4.1
GENERAL DYNAMICS
CORPORATION
Debt Securities
UNDERWRITING
AGREEMENT
June 19, 2009
To the Representatives named
in
Schedule I hereto of the
Underwriters named in
Schedule II hereto
Ladies and Gentlemen:
1. Introduction . General
Dynamics Corporation, a Delaware corporation (the “
Company ”), proposes, subject to the terms and
conditions stated herein, to issue and sell to the Underwriters
named in Schedule II hereto (the “ Underwriters
”), for whom you are acting as representatives (the “
Representatives ”), the principal amount of its debt
securities identified in Schedule I hereto (the “
Notes ”), to be unconditionally guaranteed by the
subsidiaries of the Company identified on Schedule IV hereto
(collectively, the “ Guarantors ” and, together
with the Company, the “ Issuers ”). The
Securities will be issued pursuant to the indenture dated as of
August 27, 2001, by and among the Company, the Guarantors
thereunder and The Bank of New York Mellon (formerly The Bank of
New York), as trustee (the “ Indenture ”). The
obligations of the Company under the Indenture and the Notes will
be unconditionally guaranteed (the “ Guarantees
” and together with the Notes, the “ Securities
”), on a joint and several basis, by each of the Guarantors
in accordance with the terms of the Indenture.
The Issuers have 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. 333-155980),
including a prospectus (the “ Basic Prospectus
”), relating to debt securities and guarantees thereof to be
issued from time to time by the Issuers. The Issuers have also
filed with, or transmitted for filing to, or shall promptly
hereafter file with or transmit for filing to, the Commission a
prospectus supplement specifically relating to the Securities
pursuant to Rule 424 under the Securities Act (the “
Prospectus Supplement ”). The term “
Registration Statement ” means the registration
statement, as amended at the time it becomes effective, including
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 ”). The term “ Prospectus
” means the Basic Prospectus as supplemented by the
prospectus supplement specifically relating to
the Securities 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
Securities. The term “ Preliminary Prospectus ”
means the preliminary prospectus supplement specifically relating
to the Securities together with the Basic Prospectus. As used
herein, the terms “Basic Prospectus,”
“Prospectus” and “Preliminary Prospectus”
shall include in each case the documents, if any, incorporated by
reference therein. The terms “supplement,”
“amendment” and “amend” as used herein with
respect to the Registration Statement, any Preliminary Prospectus
or the Prospectus shall be deemed to refer to and include any
documents filed by the Company under the Securities and Exchange
Act of 1934, as amended, and the rules and regulations of the
Commission thereunder (the “ Exchange Act ”)
subsequent to the date of the Underwriting Agreement which are
deemed to be incorporated by reference therein. For purposes of
this Agreement, the term “ Effective Time ”
means the effective date of the Registration Statement with respect
to the offering of Securities, as determined for the Company
pursuant to Section 11 of the Securities Act and Item 512
of Regulation S-K, as applicable.
At or prior to the time when sales
of the Securities will be first made (the “ Time of
Sale ”), the Company will prepare certain information
(collectively, the “ Time of Sale Information ”)
which information will be identified in Schedule III to the
Underwriting Agreement for such offering of Securities as
constituting part of the Time of Sale Information.
The Issuers hereby agree with the
Underwriters as follows:
2. Representations and Warranties
of the Issuers .
(a) The Company represents and
warrants to and agrees with each of the Underwriters
that:
(i) 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 Effective
Time, the Registration Statement complied in all material respects
with the Securities Act and the Trust Indenture Act of 1939, as
amended, and the rules
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and regulations of the Commission
thereunder (collectively, the “ Trust Indenture Act
”), and did not or 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 complied in all material respects with the Securities
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, 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 in the
Registration Statement and the Prospectus and any amendment or
supplement thereto 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 therein.
(ii) The Time of Sale Information,
at the Time of Sale and at the Closing Date did not and 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.
(iii) The Issuers (including their
agents and representatives, other than the Underwriters in their
capacity as such) have 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 Securities
(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
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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,
other than the Preliminary Prospectus, listed on Schedule III to
the Underwriting Agreement as constituting part of 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 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 accompanying, or
delivered prior to delivery of, or filed prior to the first use of
such Issuer Free Writing Prospectus, 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 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.
(iv) The documents incorporated by
reference in the Registration Statement, the Prospectus and the
Time of Sale Information when filed with the Commission, conformed
or will conform, as the case may be, in all material respects with
the requirements of the Exchange Act, and 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 to make
the statements therein, in the light of the circumstances under
which they were made, not misleading;
(v) The Securities have been duly
authorized by the Company; the Guarantees have been duly authorized
by the applicable Guarantors; and when the Securities are delivered
and paid for pursuant to this Agreement on the Closing Date (as
defined below) assuming due authentication by the trustee under the
Indenture, such Securities will have been duly executed, issued and
delivered by the Issuers and will conform in all material respects
to the description thereof contained in the Registration Statement,
the Time of Sale Information and the Prospectus and the provisions
of the Indenture and will constitute
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valid and legally binding
obligations of the Issuers, in each case enforceable in accordance
with their respective terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of
general applicability relating to or affecting creditors’
rights and to general equity principles.
(vi) Since the date as of which
information is given in the Registration Statement, the Time of
Sale Information and the Prospectus, (a) there has not been
any material adverse change, or any development reasonably likely
to have a material adverse change, in the condition (financial or
otherwise), financial position, stockholders’ equity or
results of operations of the Company and its subsidiaries,
considered as one enterprise, whether or not arising in the
ordinary course of business, and (b) there have been no
transactions entered into by the Company or any of its subsidiaries
which, individually or in the aggregate, are material to the
Company and its subsidiaries, considered as one enterprise, other
than those transactions in the ordinary course of business, except,
in each case, as otherwise set forth or contemplated in the
Registration Statement, the Time of Sale Information and the
Prospectus.
(vii) The Company has been duly
incorporated and is validly existing as a corporation in good
standing under the laws of its jurisdiction of incorporation, with
power and authority (corporate and other) to own its properties and
conduct its business as 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 other jurisdiction
in which it owns or leases properties or conducts any business so
as to require such qualification, except where the failure to be so
qualified is not reasonably likely to have a material adverse
change in the condition (financial or otherwise), financial
position, stockholders’ equity or results of operations of
the Company and its subsidiaries, considered as one
enterprise.
(viii) Each Guarantor has been duly
incorporated and is validly existing as a corporation in good
standing under the laws of its jurisdiction of incorporation, with
power and authority (corporate and other) to own its properties and
conduct its business as 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 other jurisdiction
in which it
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owns or leases properties or
conducts any business so as to require such qualification, except
where the failure to be so qualified is not reasonably likely to
have a material adverse change in the condition (financial or
otherwise), financial position, or results of operations of the
applicable Guarantor and its subsidiaries, considered as one
enterprise.
(ix) The Company has an authorized
capitalization as set forth in the Registration Statement, the Time
of Sale Information and the Prospectus, and all of the issued
shares of capital stock of the Company have been duly and validly
authorized and issued, are fully paid and non-assessable; and all
of the issued shares of capital stock of each Guarantor have been
duly and validly authorized and issued, are fully paid and
non-assessable and (except for directors’ qualifying shares)
are owned directly or indirectly by the Company, free and clear of
all liens, encumbrances, equities or claims.
(x) The execution, delivery and
performance of the Indenture and this Agreement and the issuance
and sale of the Securities and the compliance by the Company with
all of the provisions thereof and the consummation by the Company
of the transactions contemplated herein will not conflict with or
result in a breach or violation of any of the terms or provisions
of, or constitute a default under, any material indenture,
mortgage, deed of trust, loan agreement or other material agreement
or instrument to which the Company is a party or by which the
Company is bound or to which any of the property or assets of the
Company is subject, nor will such actions result in any violation
of the provisions of the Certificate of Incorporation or By-laws of
the Company or, to the best of its knowledge, any statute or any
order, rule or regulation of any court or governmental agency or
body having jurisdiction over the Company or any of its properties;
and no consent, approval, authorization, order, decree,
registration or qualification of or with any such court or
governmental agency or body is required for the issuance and sale
of the Securities or the consummation by the Company of the
transactions contemplated by this Agreement, except such consents,
approvals, authorizations, registrations or qualifications as may
be required under state or foreign securities or “blue
sky” laws or as have been obtained under the Securities Act
or the Trust Indenture Act in connection with the issuance and sale
of the Securities by the Issuers; and each of the Issuers has full
power and authority to authorize, issue and sell the Securities as
contemplated by this Agreement.
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(xi) The execution, delivery and
performance of the Indenture and this Agreement and the issuance
and sale of the Securities and the compliance by each of the
Guarantors with all of the provisions thereof and the consummation
by each of the Guarantors of the transactions contemplated herein
will not conflict with or result in a breach or violation of 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 any of the Guarantors are a party
or by which any of the Guarantors are bound or to which any of the
property or assets of any of the Guarantors are subject, except
where such conflict, breach, violation or default is not reasonably
likely to result in a material adverse change in the condition
(financial or otherwise), financial position, stockholders’
equity or results of operations of the Company and its
subsidiaries, considered as one enterprise, nor will such actions
result in any violation of the provisions of the Certificate of
Incorporation or By-laws of any of the Guarantors or, to the best
of the Company’s knowledge, any statute or any order, rule or
regulation of any court or governmental agency or body having
jurisdiction over the Guarantors or any of their respective
properties; and no consent, approval, authorization, order, decree,
registration or qualification of or with any such court or
governmental agency or body is required for the issuance of any of
the Guarantees or the consummation by any of the Guarantors of the
transactions contemplated by this Agreement, except such consents,
approvals, authorizations, registrations or qualifications as may
be required under state or foreign securities or “blue
sky” laws or as have been obtained under the Securities Act
or the Trust Indenture Act in connection with the issuance of the
Guarantees.
(xii) This Agreement has been duly
authorized, executed and delivered by each of the
Issuers.
(xiii) The Indenture has been duly
qualified under the Trust Indenture Act and has been duly
authorized, executed and delivered by each of the Issuers and is a
valid and legally binding obligation of the Issuers, enforceable in
accordance with its terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of
general applicability relating to or affecting creditors’
rights and to general equity principles.
(xiv) None of the Issuers is (A) in
violation of its Certificate of Incorporation or By-laws or (B) in
default in the
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performance or observance of any
obligation, agreement, 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, where such default is
reasonably likely to result in a material adverse change in the
condition (financial or otherwise), financial position,
stockholders’ equity or results of operations of the Company
and its subsidiaries, considered as one enterprise.
(xv) 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 property of the Company or any of its subsidiaries is the
subject which is reasonably likely by the Company to have,
individually or in the aggregate, a material adverse change in the
condition (financial or otherwise), financial position,
stockholders’ equity or results of operations of the Company
and its subsidiaries, considered as one enterprise; and, to the
best of the Company’s knowledge, no such proceedings are
threatened or contemplated by governmental authorities or
threatened by others.
(xvi) The Company is not and, after
giving effect to the offering and sale of the Securities, will not
be an “investment company,” as such term is defined in
the Investment Company Act of 1940, as amended (the “
Investment Company Act ”).
(xvii) The financial statements
included or incorporated by reference in the Registration
Statement, the Time of Sale Information and Prospectus present
fairly, in all material respects, the financial position of the
Company and its consolidated subsidiaries as of the dates shown and
their results of operations and cash flows for the periods shown,
and, except as otherwise disclosed in the Registration Statement,
the Time of Sale Information and the Prospectus, such financial
statements have been prepared in conformity with accounting
principles generally accepted in the United States; any schedules
included in the Registration Statement, the Time of Sale
Information and the Prospectus present fairly, in all material
respects, the information required to be stated therein.
(xviii) Except as disclosed in the
Registration Statement, the Time of Sale Information and the
Prospectus, since the date of the latest audited financial
statements included in the Registration Statement, the Time of Sale
Information and the Prospectus, there
8
has been no material adverse change,
nor any development reasonably likely to have a material adverse
change, in the condition (financial or otherwise), financial
position, stockholders’ equity or results of operations of
the Company and its subsidiaries, considered as one
enterprise.
(xix) KPMG LLP, who has certified
certain financial statements of the Company and its subsidiaries,
is, to the best of the Company’s knowledge, an independent
registered public accounting firm with respect to the Company and
its subsidiaries within the applicable rules and regulations
adopted by the Commission and the Public Company Accounting
Oversight Board (United States) and as required by the Securities
Act.
(xx) 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 Securities.
(xxi) 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) and have carried out evaluations of the effectiveness
of their disclosure controls and procedures as required by Rule
13a-15 of the Exchange Act.
(xxii) 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. 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.
(b) Each Guarantor, severally, and
not jointly, represents and warrants to and agrees with the
Underwriters that:
(i) 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
9
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 Effective Time, the Registration Statement
complied in all material respects with the Securities Act and the
Trust Indenture Act, and did not or 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 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, in the light of the circumstances under
which they were made, not misleading; provided that such
Guarantor 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 in the Registration Statement and the Prospectus and
any amendment or supplement thereto 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 therein.
(ii) The Time of Sale Information,
at the Time of Sale and at the Closing Date did not and 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 applicable Guarantor 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 applicable Guarantor
in writing by such Underwriter through the Representatives
expressly for use in such Time of Sale Information.
(iii) Each Guarantor (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 Securities
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
10
Act, (ii) the Preliminary
Prospectus, (iii) the Prospectus, (iv) the documents,
other than the Preliminary Prospectus, listed on Schedule III to
the Underwriting Agreement 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 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 accompanying, or
delivered prior to delivery of, or filed prior to the first use of
such Issuer Free Writing Prospectus, 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 such Guarantor
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.
(iv) The applicable Guarantee has
been duly authorized by the Guarantor; and when such Guarantee is
delivered pursuant to this Agreement on the Closing Date, such
Guarantee will have been duly executed, issued and delivered and
will conform in all material respects to the description thereof
contained in the Registration Statement, the Time of Sale
Information and the Prospectus and the provisions of the Indenture
and will constitute a valid and legally binding obligation of the
Guarantor, enforceable in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability relating to or
affecting creditors’ rights and to general equity
principles.
(v) The Guarantor has been duly
incorporated and is validly existing as a corporation in good
standing under the laws of its jurisdiction of incorporation, with
power and authority (corporate and other) to own its properties and
conduct its business as 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 other jurisdiction
in which it
11
owns or leases properties or
conducts any business so as to require such qualification, except
where the failure to be so qualified is not reasonably likely to
have a material adverse change, in the condition (financial or
otherwise), financial position or results of operations of the
Guarantor and its subsidiaries, considered as one
enterprise.
(vi) The execution, delivery and
performance of the Indenture and this Agreement and the issuance of
the applicable Guarantee and the compliance by the Guarantor with
all of the provisions thereof and the consummation by the Guarantor
of the transactions contemplated herein will not conflict with or
result in a breach or violation of 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
Guarantor is a party or by which the Guarantor is bound or to which
any of the property or assets of the Guarantor is subject, except
where such conflict, breach, violation or default is not reasonably
likely to result in a material adverse change in the condition
(financial or otherwise), financial position, stockholders’
equity or results of operations of the Company and its
subsidiaries, considered as one enterprise, nor will such action
result in any violation of the provisions of the Certificate of
Incorporation or By-laws of the Guarantor or, to the best of its
knowledge, any statute or any order, rule or regulation of any
court or governmental agency or body having jurisdiction over the
Guarantor or any of its properties; and no consent, approval,
authorization, order, decree, registration or qualification of or
with any such court or governmental agency or body is required for
the issuance of the applicable Guarantee or the consummation by the
Guarantor of the transactions contemplated by this Agreement,
except such consents, approvals, authorizations, registrations or
qualifications as may be required under state or foreign securities
or “blue sky” laws or as have been obtained under the
Securities Act or the Trust Indenture Act in connection with the
issuance and sale of the Securities by the Issuers; and the
Guarantor has full power and authority to authorize and issue the
Guarantee as contemplated by this Agreement.
(vii) This Agreement has been duly
authorized, executed and delivered by the Guarantor.
(viii) The Indenture has been duly
qualified under the Trust Indenture Act and has been duly
authorized, executed and delivered by the Guarantor and is a valid
and legally binding
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obligation of the Guarantor,
enforceable in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting
creditors’ rights and to general equity
principles.
(ix) The Guarantor is not an
“ineligible issuer” as defined under the Securities Act
at the times specified in the Securities Act in connection with the
offering of the Securities.
3. Purchase, Sale and Delivery of
Initial 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 several Underwriters, and each Underwriter agrees to
purchase, severally and not jointly, from the Company, the
respective principal amount of Securities set forth opposite such
Underwriter’s name on Schedule II hereto at the purchase
price set forth thereon, plus accrued interest, if any, from the
date specified in Schedule I hereto to the date of payment and
delivery, and the Guarantors agree to issue the Guarantees with
respect to the Securities.
The Company understands that the
several Underwriters intend (i) to make a public offering of
their respective portions of the Securities and (ii) initially
to offer the Securities upon the terms set forth in the
Registration Statement, the Time of Sale Information and the
Prospectus.
The Issuers will deliver, against
payment of the purchase price, the Securities in the form of one or
more permanent global securities in definitive form (the “
Global Securities ”) deposited with the Trustee as
custodian for The Depository Trust Company (“ DTC
”) and registered in the name of Cede & Co. as
nominee for DTC. Interests in any permanent Global Securities will
be held only in book-entry form through DTC, except in the limited
circumstances described in the Registration Statement, the Time of
Sale Information and the Prospectus. Payment for the Securities
shall be made by the Underwriters by wire transfer in immediately
available funds to an account specified by the Company on the date
and at the time set forth in Schedule I hereto, or at such other
time not later than five full business days thereafter as the
Underwriters and the Company may agree in writing, such time being
herein referred to as the “ Closing Date ,”
against delivery to the Trustee as custodian for DTC of the Global
Securities representing all of the Securities. The Global
Securities will be made available for checking by the
Representatives at such place as the Representatives and the
Company agree 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
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and not as a financial advisor or a fiduciary
to, or an agent of, the Company or any other person, in each case,
with respect to the offering of Securities contemplated hereby
(including in connection with determining the terms of the
offering). Additionally, no such Underwriter is advising the
Company or any other person as to any legal, tax, investment,
accounting or regulatory matters in any jurisdiction with respect
to the offering of Securities contemplated hereby. 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 offering of Securities contemplated hereby,
and such Underwriters shall have no responsibility or liability to
the Company with respect to any information or advice received by
the Company from its own advisors concerning such matters or
arising out of its own independent investigation and appraisal of
the offering of Securities contemplated herby. Any review by such
Underwriters named in the Underwriting Agreement of the Company,
the transactions contemplated thereby 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.
4. Certain Agreements of the
Issuers . The Issuers, jointly and severally, agree with each
of the several Underwriters that:
(a) The Issuers will (i) pay the
registration fees for this offering within the time period required
by Rule 456(b)(1)(i) under the Securities Act (without giving
effect to the proviso therein) and in any event prior to the
Closing Date and (ii) file the Prospectus in a form approved by the
Representatives pursuant to Rule 424 under the Securities Act not
later than the Commission’s close of business on the second
Business Day following the date of determination of the offering
price of the Securities or, if applicable, such earlier time as may
be required by Rule 424(b) and Rule 430A, 430B or 430C under the
Securities Act. The Company will file any Issuer Free Writing
Prospectus (including the Term Sheet in the form of Schedule VII to
the Underwriting Agreement) to the extent required by Rule 433
under the Securities Act; and the Company will 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) The Issuers will advise the
Representatives promptly after obtaining knowledge, and, if
requested by the Representatives, confirm 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
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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 defined below in Section 4(c)) as a result
of which (A) the 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 is delivered to a
Purchaser, not misleading, or (B) the Time of Sale Information
or any Issuer Free Writing Prospectus as then amended and
supplemented would include any untrue statement of a material fact
or omit to state a material necessary in order to make the
statements therein, in the light of the circumstances existing when
the Time of Sale Information or any 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 the Company of any notice with respect to
any suspension of the qualification of the Securities for offer and
sale in any jurisdiction or the initiation or threatening of any
proceeding for such purpose; and the Company will use its
reasonable best efforts to prevent the issuance of any such order
suspending the effectiveness of the Registration Statement (as
described in clause (iv) above), preventing or suspending the
use of any Preliminary Prospectus or the Prospectus (as described
in clause (iv) above) or suspending any such qualification of
the Securities (as described in clause (iv) above) and, if any
such order is issued, will obtain as soon as possible the
withdrawal thereof.
(c) The Company will 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 (if applicable) 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 Securities as in the
opinion of counsel for the Underwriters a prospectus relating to
the Securities 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 Securities by any Underwriter or
dealer.
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(d) Before making, preparing, using,
authorizing, approving, referring to or filing any Issuer Free
Writing Prospectus during the Prospectus Delivery Period, and
before filing any amendment or supplement to the Registration
Statement or the Prospectus, the Company will furnish to the
Representatives and counsel for the Underwriters, within a
reasonable time prior to the filing thereof with the Commission, a
copy of the proposed Issuer Free Writing Prospectus, amendment or
supplement for review and will not during the Prospectus Delivery
Period make, prepare, use, authorize, approve, refer to or file any
such Issuer Free Writing Prospectus or file any such proposed
amendment or supplement (other than any document required to be
filed with the Commission under the Exchange Act and incorporated
by reference into the Registration Statement or Prospectus) to
which the Representatives reasonably objects.
(e) If at any time prior to the
Closing Date (i) any event shall occur or condition shall exist as
a result of which the Time of Sale Information as then amended or
supplemented would 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 then
prevailing, not misleading or (ii) it is necessary to amend or
supplement the Time of Sale Information to comply with law, the
Company will promptly notify the Underwriters thereof and forthwith
prepare and, subject to paragraph (c) above, file with the
Commission (to the extent required) and furnish to the Underwriters
and to such dealers as the Representatives may designate, such
amendments or supplements to the Time of Sale Information as may be
necessary so that the statements in the Time of Sale Information as
so amended or supplemented will not, in the light of the
circumstances then prevailing, be misleading or so that the Time of
Sale Information will comply with law.
(f) If during the Prospectus
Delivery Period (i) any event shall occur or condition shall exist
as a result of which the Prospectus as then amended or supplemented
would include any untrue statement of a material fact or omit to
state any 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 is delivered to a
purchaser, not misleading or (ii) it is necessary to amend or
supplement the Prospectus to comply with law, the Company will
immediately notify the Underwriters thereof and forthwith prepare
and, subject to paragraph (c) above, file with the Commission
and furnish to the Underwriters and to such dealers as the
Representatives may designate, such amendments or supplements to
the Prospectus as may be necessary so that the statements in the
Prospectus as so amended or supplemented will not, in the light of
the circumstances existing when the Prospectus is delivered to a
purchaser, be misleading or so that the Prospectus will comply with
law.
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(g) The Issuers will arrange for the
qualification of the Securities for sale and the determination of
their eligibility for investment under the laws of such states in
the United States as the Representatives may reasonably designate
and will continue such qualifications in effect so long as
reasonably required for the distribution of the Securities by the
Underwriters; provided that in connection therewith none of the
Issuers will be required to qualify as a foreign corporation or to
file a general consent to service of process in any such
state.
(h) The Company will make generally
available to its security holders and the Representatives an
earnings statement that satisfies the provisions of
Section 11(a) of the Securities Act and Rule 158 of the
Commission promulgated thereunder covering a period of at least
twelve months beginning with the first fiscal quarter of the
Company occurring after the “ effective date ”
(as defined in Rule 158) of the Registration Statement.
(i) During the period of two years
after the Closing Date, none of the Issuers will be or become, an
open-end investment company, unit investment trust or face-amount
certificate company that is or is required to be registered under
Section 8 of the Investment Company Act.
(j) The Company will pay all
expenses incidental to the performance of the Issuers’
obligations under this Agreement and the Indenture including (i)
the fees and expenses of the Trustee and its professional advisers;
(ii) all expenses in connection with the execution, issue,
authentication, packaging and delivery of the Securities, the
preparation and printing of this Agreement, the Securities, the
Indenture, the Registration Statement, the Preliminary Prospectus,
any Issuer Free Writing Prospectus, any Time of Sale Information
and the Prospectus and amendments and supplements thereto, and any
other document relating to the issuance, offer, sale and delivery
of the Securities; (iii) the cost of any advertising approved by
the Company in connection with the issue of the Securities, (iv)
any expenses (including the reasonable fees and disbursements of
counsel) incurred in connection with qualification of the
Securities for sale under the laws of such jurisdictions as the
Representatives designate (subject to the limitations set forth in
paragraph (g) above) and the printing of memoranda relating
thereto, (v) any fees charged by investment rating agencies for the
rating of the Securities, and (vi) expenses incurred in
distributing the Time of Sale Information and the Prospectus
(including any amendments and supplements thereto) to the
Representatives. Unless this Agreement is terminated pursuant to
Section 10, the Company will reimburse the Underwriters for
all travel expenses of the Underwriters and the Company’s
officers and employees and any other expenses of the Underwriters
and the Company in connection with attending or hosting meetings
with prospective purchasers of the Securities.
17
(k) In connection with the offering,
until and including the Business Day following the Closing Date,
neither the Issuers nor any of their affiliates have or will,
either alone or with one or more other persons, bid for or purchase
for any account in which they or any of their affiliates have a
beneficial interest in any Securities or attempt to induce any
person to purchase any Securities; and neither they nor any of
their affiliates will make bids or purchases for the purpose of
creating actual, or apparent, active trading in, or of raising the
price of, the Securities.
(l) The Company will not offer,
sell, contract to sell, or otherwise dispose of, directly or
indirectly, or file with the Commission a registration statement
under the Securities Act relating to, 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, other than under any credit facility of the Company,
without the prior written consent of the Representatives, which
shall not be unreasonably withheld or delayed, for a period
beginning at the time of execution of this Agreement and ending on
the Closing Date or the failure of the consummation of the purchase
and sale of the Securities as contemplated by Section 3
hereof.
(m) The Company will file 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 during
the Prospectus Delivery Period.
(n) The Company will retain copies
of each Issuer Free Writing Prospectus it has used that is not
filed with the Commission in accordance with, and to the extent
provided in Rule 433 under the Securities Act.
5. Certain Agreements of the
Underwriters . Each Underwriter represents and agrees
that:
(a) It has not and will not use,
authorize use of, refer to, or participate in the planning for use
of, any “free writing prospectus”, as defined in Rule
405 under the Securities Act (which term includes use of any
written information furnished to the Commission by the Company and
not incorporated by reference into the Registration Statement and
any press release issued by the Company) other than (i) a free
writing prospectus that, solely as a result of use by such
Underwriter, would not trigger an obligation to file such free
writing prospectus with the
18
Commission pursuant to Rule 433,
(ii) any Issuer Free Writing Prospectus listed on Schedule III
to the Underwriting Agreement or prepared pursuant to Sections
2(a)(iii), 2(b)(iii) or Section 4(d) above (including any
electronic road show), or (iii) any free writing prospectus
prepared by such Underwriter and approved by the Company in advance
in writing.
(b) Notwithstanding the foregoing
the Underwriters may use a term sheet substantially in the form of
Schedule VII to the Underwriting Agreement without the consent of
the Company.
(c) It will abide by the offering
restrictions as set forth on Schedule VIII hereto.
6. Conditions of the Obligations
of the Underwriters . The several obligations of the
Underwriters to purchase and pay for the Securities will be subject
to the performance by the Issuers of their