The Black & Decker
Corporation
$300,000,000
5.750% Senior Notes Due
2016
Underwriting Agreement
New York, New York
November 13, 2006
To the Representatives named
in
Schedule I hereto of the several
Underwriters named in
Schedule II hereto
Ladies and
Gentlemen:
The
Black & Decker Corporation, a corporation organized under the
laws of Maryland (the “Company”), proposes to sell to
the several underwriters named in Schedule II hereto (the
“Underwriters”), for whom you (the
“Representatives”) are acting as representatives, the
principal amount of its securities identified in Schedule I
hereto (the “Securities”), to be issued under an
indenture, dated as of November 16, 2006, between the Company and
The Bank of New York, as trustee (the “Trustee”), as
supplemented by the First Supplemental Indenture , dated as of
November 16, 2006, between the Company and the Trustee (the
“Indenture”). To the extent there are no additional
Underwriters listed on Schedule I other than you, the term
Representatives as used herein shall mean you, as Underwriters, and
the terms Representatives and Underwriters shall mean either the
singular or plural as the context requires. Any reference herein to
the Registration Statement, the Base Prospectus, any Preliminary
Prospectus or the Final Prospectus shall be deemed to refer to and
include the documents incorporated by reference therein pursuant to
Item 12 of Form S-3 which were filed under the Exchange
Act on or before the Effective Date of the Registration Statement
or the issue date of the Base Prospectus, any Preliminary
Prospectus or the Final Prospectus, as the case may be; and any
reference herein to the terms “amend,”
“amendment” or “supplement” with respect to
the Registration Statement, the Base Prospectus, any Preliminary
Prospectus or the Final Prospectus shall be deemed to refer to and
include the filing of any document under the Exchange Act after the
Effective Date of the Registration Statement or the issue date of
the Base Prospectus, any Preliminary Prospectus or the Final
Prospectus, as the case may be, deemed to be incorporated therein
by reference. Certain terms used herein are defined in
Section 20 hereof.
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1.
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Representations and
Warranties . The Company
represents and warrants to, and agrees with, each Underwriter as
set forth below in this Section 1.
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(a)
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The Company meets the
requirements for use of Form S-3 under the Act and has
prepared and filed with the Commission an automatic shelf
registration statement, as defined in Rule 405 (the file number of
which is set forth in Schedule I hereto) on Form S-3,
including a related Base Prospectus, for registration under the Act
of the offering and sale of the Securities. Such Registration
Statement, including any
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amendments thereto filed prior to
the Execution Time, became effective upon filing. The Company may
have filed with the Commission, as part of an amendment to the
Registration Statement or pursuant to Rule 424(b), one or more
preliminary prospectus supplements relating to the Securities, each
of which has previously been furnished to you. The Company will
file with the Commission a final prospectus supplement relating to
the Securities in accordance with Rule 424(b). As filed, such final
prospectus supplement shall contain all information required by the
Act and the rules thereunder, and, except to the extent the
Representatives shall agree in writing to a modification, shall be
in all substantive respects in the form furnished to you prior to
the Execution Time or, to the extent not completed at the Execution
Time, shall contain only such specific additional information and
other changes (beyond that contained in the Base Prospectus and any
Preliminary Prospectus) as the Company has advised you, prior to
the Execution Time, will be included or made therein. The
Registration Statement, at the Execution Time, meets the
requirements set forth in Rule 415(a)(1)(x).
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(b)
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On each Effective Date, the
Registration Statement did, and when the Final Prospectus is first
filed in accordance with Rule 424(b) and on the Closing Date
(as defined herein), the Final Prospectus (and any supplement
thereto) will, comply in all material respects with the applicable
requirements of the Act, the Exchange Act and the Trust Indenture
Act and the respective rules thereunder; on each Effective Date and
at the Execution Time, the Registration Statement did not and will
not contain 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 not misleading; on the
Effective Date and on the Closing Date the Indenture did or will
comply in all material respects with the applicable requirements of
the Trust Indenture Act and the rules thereunder; and on the date
of any filing pursuant to Rule 424(b) and on the Closing Date,
the Final Prospectus (together with any supplement thereto) will
not include 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 , however, that the Company
makes no representations or warranties as to (i) that part of
the Registration Statement which shall constitute the Statement of
Eligibility and Qualification (Form T-1) under the Trust Indenture
Act of the Trustee or (ii) the information contained in or
omitted from the Registration Statement or the Final Prospectus (or
any supplement thereto) in reliance upon and in conformity with
information furnished in writing to the Company by or on behalf of
any Underwriter through the Representatives specifically for
inclusion in the Registration Statement or the Final Prospectus (or
any supplement thereto), it being understood and agreed that the
only such information furnished by or on behalf of any Underwriter
consists of the information described as such in Section 8
hereof.
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(c)
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The Disclosure Package does not
contain any untrue statement of a material fact or omit to state
any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were
made, not misleading. The preceding sentence does not apply to
statements in or omissions from the Disclosure Package based upon
and in conformity with written information furnished to the Company
by any Underwriter through the Representatives specifically for use
therein, it
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being understood and agreed that
the only such information furnished by or on behalf of any
Underwriter consists of the information described as such in
Section 8 hereof.
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(d)
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(i) At the time of filing the
Registration Statement, (ii) at the time of the most recent
amendment thereto for the purposes of complying with Section
10(a)(3) of the Act (whether such amendment was by post-effective
amendment, incorporated report filed pursuant to Sections 13 or
15(d) of the Exchange Act or form of prospectus), (iii) at the time
the Company or any person acting on its behalf (within the meaning,
for this clause only, of Rule 163(c)) made any offer relating to
the Securities in reliance on the exemption in Rule 163, and (iv)
at the Execution Time (with such date being used as the
determination date for purposes of this clause (iv)) the Company
was or is (as the case may be) a “well-known seasoned
issuer” as defined in Rule 405. The Company agrees to pay the
fees required by the Commission relating to the Securities within
the time required by Rule 456(b)(1) without regard to the proviso
therein and otherwise in accordance with Rules 456(b) and
457(r).
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(e)
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(i) At the earliest time after
the filing of the Registration Statement that the Company or
another offering participant made a bona fide offer (within
the meaning of Rule 164(h)(2)) of the Securities and (ii) as of the
Execution Time (with such date being used as the determination date
for purposes of this clause (ii)) the Company was not and is not an
Ineligible Issuer (as defined in Rule 405), without taking account
of any determination by the Commission pursuant to Rule 405 that it
is not necessary that the Company be considered an Ineligible
Issuer.
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(f)
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Each Issuer Free Writing
Prospectus and the final term sheet prepared and filed pursuant to
Section 5(b) hereto does not include any information that conflicts
with the information contained in the Registration Statement, the
Base Prospectus, the Preliminary Prospectus or the Final
Prospectus, including any document incorporated therein by
reference, that has not been superseded or modified. The foregoing
sentence does not apply to statements in or omissions from any
Issuer Free Writing Prospectus based upon and in conformity with
written information furnished to the Company by any Underwriter
through the Representatives specifically for use therein, it being
understood and agreed that the only such information furnished by
or on behalf of any Underwriter consists of the information
described as such in Section 8 hereof.
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(g)
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The Company and each of its
material subsidiaries has been duly incorporated and is validly
existing and in good standing under the laws of its respective
jurisdictions of incorporation, is duly qualified to do business
and is in good standing as a foreign corporation in each
jurisdiction in which its respective ownership or lease of property
or the conduct of its respective business requires such
qualification, and has all the power and authority necessary to own
or hold its respective properties and to conduct the respective
business in which it is engaged, except where the failure to so
qualify or have such power or authority would not, singularly or in
the aggregate, have a material adverse effect on the condition
(financial or otherwise), results of operations or business of the
Company and its subsidiaries taken as a whole (a “Material
Adverse Effect”).
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(h)
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All of the outstanding shares of
capital stock of the Company have been duly and validly authorized
and issued and are fully paid and non-assessable. All of the
outstanding shares of capital stock of each material subsidiary of
the Company have been duly and validly authorized and issued, are
fully paid and non-assessable and are owned directly or indirectly
by the Company, free and clear of any lien, charge, encumbrance,
security interest, restriction upon voting or transfer or any other
claim of any third party (except for such liens, charges,
encumbrances, security interests, restrictions or claims that could
not reasonably be expected to have a Material Adverse
Effect).
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(i)
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The Company has the full right,
power and authority to execute and deliver this Agreement, the
Indenture and the Securities (collectively, the “Transaction
Documents”) and to perform its obligations hereunder and
thereunder; and all corporate action required to be taken for the
due and proper authorization, execution and delivery of each of the
Transaction Documents and the consummation of the transactions
contemplated thereby have been duly and validly taken.
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(j)
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This Agreement has been duly
authorized, executed and delivered by the Company and constitutes a
valid and legally binding agreement of the Company.
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(k)
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The Indenture has been duly
authorized by the Company and, when duly executed and delivered in
accordance with its terms by the Trustee, will constitute a valid
and legally binding agreement of the Company enforceable against
the Company in accordance with its terms, except to the extent that
such enforceability may be limited by applicable bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and
other similar laws affecting creditors’ rights generally and
by general equitable principles (whether considered in a proceeding
in equity or at law). On the Closing Date (as herein defined), the
Indenture will conform in all material respects to the requirements
of the Trust Indenture Act and the rules and regulations of the
Commission applicable to an indenture that is qualified
thereunder.
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(l)
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The Securities have been duly
authorized by the Company and, when duly executed, authenticated,
issued and delivered as provided in the Indenture and paid for as
provided herein, will be duly and validly issued and outstanding
and will constitute valid and legally binding obligations of the
Company, entitled to the benefits of the Indenture and enforceable
against the Company in accordance with their terms, except to the
extent that such enforceability may be limited by applicable
bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws affecting creditors’ rights
generally and by general equitable principles (whether considered
in a proceeding in equity or at law).
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(m)
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The Securities conform in all
material respects to the description thereof contained in the
Disclosure Package and the Final Prospectus.
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(n)
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The execution, delivery and
performance by the Company of each of the Transaction Documents,
the issuance, authentication, sale and delivery of the Securities
and compliance by the Company with the terms thereof and the
consummation of the transactions contemplated by the Transaction
Documents do not and will not (i) conflict
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with or result in a breach or
violation of any of the terms or provisions of, or constitute a
default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Company or
any of its subsidiaries pursuant to any material indenture,
mortgage, deed of trust, loan agreement or other material agreement
or instrument to which the Company or any of its subsidiaries is a
party or by which the Company or any of its subsidiaries is bound
or to which any of the property or assets of the Company or any of
its subsidiaries is subject, (ii) result in any violation of the
provisions of the charter or by-laws (or any other comparable
organizational documents) of the Company or any of its material
subsidiaries or (iii) result in the violation of any statute or any
judgment, order, decree, rule or regulation of any court or
arbitrator or governmental agency or body having jurisdiction over
the Company or any of its subsidiaries or any of their properties
or assets, except for any violation set forth in this clause (iii)
which would not be material to the Company and its subsidiaries
taken as a whole and which would not adversely affect the
consummation of the transactions contemplated hereby; and except
for such consents, approvals, authorizations, filings,
registrations or qualifications which shall have been obtained or
made prior to the Closing Date or as may be required to be obtained
or made under applicable state securities laws, no consent,
approval, authorization or order of, or filing or registration
with, any such court or arbitrator or governmental agency or body
under any such statute, judgment, order, decree, rule or regulation
is required for the execution, delivery and performance by the
Company of each of the Transaction Documents, the issuance,
authentication, sale and delivery of the Securities and compliance
by the Company with the terms thereof and the consummation of the
transactions contemplated by the Transaction Documents.
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(o)
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Ernst & Young LLP is a firm
of independent certified public accountants with respect to the
Company and its subsidiaries (i) as required by the Act and the
rules and regulations thereunder adopted by the Commission and the
rules adopted by the Public Company Accounting Oversight Board and
(ii) within the meaning of Rule 101 of the Code of Professional
Conduct of the American Institute of Certified Public Accountants
(“AICPA”) and its interpretations and rulings
thereunder. The historical financial statements (including the
related notes and supporting schedules) contained or incorporated
by reference in the Registration Statement, the Preliminary
Prospectus and the Final Prospectus comply as to form in all
material respects with the applicable requirements under the Act
and the Exchange Act; such financial statements have been prepared
in accordance with generally accepted accounting principles
consistently applied throughout the periods covered thereby and
fairly present the financial position of the entities purported to
be covered thereby at the respective dates indicated and the
results of their operations and their cash flows for the respective
periods indicated; and the financial information contained or
incorporated by reference in the Registration Statement, the
Preliminary Prospectus and the Final Prospectus is derived from the
accounting records of the Company and its subsidiaries and fairly
present the information purported to be shown thereby.
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(p)
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Except as described in the
Disclosure Package and the Final 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 or assets of the
Company or any of its
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subsidiaries is the subject
which, singularly or in the aggregate, if determined adversely to
the Company or any of its subsidiaries, could reasonably be
expected to have a Material Adverse Effect, and, to the best
knowledge of the Company, no such proceedings are threatened or
contemplated by governmental authorities or threatened by
others.
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(q)
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Neither the Company nor any of
its material subsidiaries is (i) in violation of its charter or
by-laws (or other comparable organizational documents), (ii) in
default in any material respect, and no event has occurred which,
with notice or lapse of time or both, would constitute such a
default, in the due performance or observance of any term, covenant
or condition contained in any material indenture, mortgage, deed of
trust, loan agreement or other material agreement or instrument to
which it is a party or by which it is bound or to which any of its
property or assets is subject or (iii) in violation in any material
respect of any law, ordinance, governmental rule, regulation or
court decree to which it or its property or assets may be subject
or has failed to obtain any material license, permit, certificate,
franchise or other governmental authorization or permit necessary
to the ownership of its property or conduct of its business, except
in the case of clauses (ii) and (iii) for such defaults or
violations which would not, either individually or in the
aggregate, have a Material Adverse Effect.
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(r)
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The Company and each of its
subsidiaries owns or possesses adequate rights to use all material
patents, patent applications, trademarks, service marks, trade
names, trademark registrations, service mark registrations,
copyrights, licenses and know-how (including trade secrets and
other unpatented and/or unpatentable proprietary or confidential
information, systems or procedures) necessary for the conduct of
their respective businesses, except where the failure to so own or
possess such rights or to use such patents, patent applications,
trademarks, service marks, trade names, trademark registrations,
service mark registrations, copyrights, licenses and know-how would
not, singularly or in the aggregate, have a Material Adverse
Effect; and the conduct of their respective businesses will not
conflict in any material respect with, and the Company and its
subsidiaries have not received any notice of any claim of conflict
with any such rights of others which could have a Material Adverse
Effect.
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(s)
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The Company and each of its
subsidiaries has good and marketable title in fee simple to, or
have valid rights to lease or otherwise use, all items of real and
personal property which are material to the business of the Company
and its subsidiaries, in each case free and clear of all liens,
encumbrances, claims and defects and imperfections of title except
such as do not materially interfere with the use made and proposed
to be made of such property by the Company and its subsidiaries or
could not reasonably be expected to have a Material Adverse
Effect.
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(t)
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Except as described in the
Disclosure Package and the Final Prospectus, there has been no
storage, generation, transportation, handling, treatment, disposal,
discharge, emission or other release of any kind of toxic or other
wastes or other hazardous substances by, due to or caused by the
Company or any of its subsidiaries (or, to the best knowledge of
the Company, any other entity (including any predecessor) for whose
acts or omissions the Company or any of its subsidiaries is or
could reasonably be
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expected to be liable) upon any
of the property now or previously owned or leased by the Company or
any of its subsidiaries in violation of any statute or any
ordinance, rule (including rule of common law), regulation, order,
judgment, decree or permit, or which would, under any statute or
any ordinance, rule (including rule of common law), regulation,
order, judgment, decree or permit, give rise to any liability that
(taking into account, among other things, the reasonable likelihood
of an adverse determination and the availability of contributions
from other potentially responsible parties) could reasonably be
expected to have, singularly or in the aggregate with all such
violations and liabilities, a Material Adverse Effect; and there
has been no disposal, discharge, emission or other release of any
kind onto such property or into the environment surrounding such
property of any toxic or other wastes or other hazardous substances
with respect to which the Company or any of its subsidiaries has
any knowledge that (taking into account, among other things, the
reasonable likelihood of an adverse determination and the
availability of contributions from other potentially responsible
parties) could reasonably be expected to have, singularly or in the
aggregate with all such discharges and other releases, a Material
Adverse Effect.
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(u)
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Neither the Company nor any of
its affiliates has taken and will not take, directly or indirectly,
any action designed to or that could reasonably be expected to
cause or result in any stabilization or manipulation of the price
of the Securities.
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(v)
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No forward-looking statement
(within the meaning of Section 27A of the Act and Section 21E of
the Exchange Act) contained in the Disclosure Package and the Final
Prospectus has been made or reaffirmed without a reasonable basis
or has been disclosed other than in good faith.
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(w)
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Since the date as of which
information is given in the Disclosure Package and the Final
Prospectus (exclusive of amendments or supplements after the date
hereof), except as otherwise stated therein, (i) there has been no
material adverse change or any development involving a prospective
material adverse change in the condition, financial or otherwise,
or in the earnings, business affairs, management or business
prospects of the Company and its subsidiaries, whether or not
arising in the ordinary course of business, (ii) none of the
Company or any of its subsidiaries has incurred any material loss,
liability or obligation, direct or contingent, other than in the
ordinary course of business, (iii) none of the Company or any of
its subsidiaries has entered into any material transaction other
than in the ordinary course of business and (iv) there has not been
any change in the capital stock (except for transactions relating
to share-based compensation plans) or any increase greater than $25
million in the aggregate principal amount of long-term debt of the
Company and any of its subsidiaries (including current maturities),
or any dividend or distribution of any kind declared, paid or made
by the Company or any of its subsidiaries on any class of its
capital stock, or any redemption in respect thereof.
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(x)
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The Company is in compliance in
all material respects with the applicable provisions of the
Sarbanes-Oxley Act of 2002 that are effective and the rules and
regulations of the Commission that have been adopted and are
effective thereunder.
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(y)
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The Company and each of its
subsidiaries maintain a system of 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. The
Company and its subsidiaries’ internal controls over
financial reporting are effective and the Company and its
subsidiaries are not aware of any material weakness in their
internal controls over financial reporting.
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(z)
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The Company and its subsidiaries
maintain “disclosure controls and procedures” (as such
term is defined in Rule 13a-15(e) under the Exchange Act); such
disclosure controls and procedures are effective.
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Any
certificate signed by any officer of the Company and delivered to
the Representatives or counsel for the Underwriters in connection
with the offering of the Securities shall be deemed a
representation and warranty by the Company, as to matters covered
thereby, to each Underwriter.
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2.
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Purchase and Sale
. Subject to the terms and
conditions and in reliance upon the representations and warranties
herein set forth, the Company agrees to sell to each Underwriter,
and each Underwriter agrees, severally and not jointly, to purchase
from the Company, at the purchase price set forth in
Schedule I hereto the principal amount of the Securities set
forth opposite such Underwriter’s name in Schedule II
hereto.
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3.
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Delivery and
Payment . Delivery of and
payment for the Securities shall be made on the date and at the
time specified in Schedule I hereto or at such time on such
later date not more than three Business Days after the foregoing
date as the Representatives shall designate, which date and time
may be postponed by agreement between the Representatives and the
Company or as provided in Section 9 hereof (such date and
time of delivery and payment for the Securities being herein called
the “Closing Date”). Delivery of the Securities shall
be made to the Representatives for the respective accounts of the
several Underwriters against payment by the several Underwriters
through the Representatives of the purchase price thereof to or
upon the order of the Company by wire transfer payable in same-day
funds to an account specified by the Company. Delivery of the
Securities shall be made through the facilities of The Depository
Trust Company unless the Representatives shall otherwise
instruct.
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4.
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Offering by
Underwriters . It is
understood that the several Underwriters propose to offer the
Securities for sale to the public as set forth in the Final
Prospectus.
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5.
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Agreements
. The Company agrees with the
several Underwriters that:
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(a)
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Prior to the termination of the
offering of the Securities, the Company will not file any amendment
of the Registration Statement or supplement (including the Final
Prospectus or any Preliminary Prospectus) to the Base Prospectus
unless the Company
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has furnished you a copy for your
review prior to filing and will not file any such proposed
amendment or supplement to which you reasonably object. The Company
will cause any Preliminary Prospectus and the Final Prospectus,
properly completed, and any supplement thereto to be filed in a
form approved by the Representatives with the Commission pursuant
to the applicable paragraph of Rule 424(b) within the time
period prescribed and will provide evidence satisfactory to the
Representatives of such timely filing. The Company will promptly
advise the Representatives (i) when any Preliminary Prospectus and
the Final Prospectus, and any supplement thereto, shall have been
filed (if required) with the Commission pursuant to
Rule 424(b), (ii) when, prior to termination of the
offering of the Securities, any amendment to the Registration
Statement shall have been filed or become effective, (iii) of
any request by the Commission or its staff for any amendment of the
Registration Statement, or for any supplement to the Final
Prospectus or for any additional information, (iv) of the
issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or of any notice
objecting to its use or the institution or threatening of any
proceeding for that purpose and (v) of the receipt by the
Company of any notification with respect to the suspension of the
qualification of the Securities for sale in any jurisdiction or the
institution or threatening of any proceeding for such purpose. The
Company will use its best efforts to prevent the issuance of any
such stop order or the occurrence of any such suspension or
objection to the use of the Registration Statement and, upon such
issuance, occurrence or notice of objection, to obtain as soon as
possible the withdrawal of such stop order or relief from such
occurrence or objection, including, if necessary, by filing an
amendment to the Registration Statement or a new registration
statement and using its best efforts to have such amendment or new
registration statement declared effective as soon as
practicable.
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(b)
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The Company will prepare a final
term sheet, containing solely a description of final terms of the
Securities and the offering thereof, in the form approved by you
and attached as Schedule IV hereto and to file such term sheet
pursuant to Rule 433(d) within the time required by such
Rule.
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(c)
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If, at any time prior to the
filing of the Final Prospectus pursuant to Rule 424(b), any event
occurs as a result of which the Disclosure Package would include
any untrue statement of a material fact or omit to state any
material fact necessary to make the statements therein in the light
of the circumstances under which they were made or the
circumstances then prevailing not misleading, the Company will (i)
notify promptly the Representatives so that any use of the
Disclosure Package may cease until it is amended or supplemented;
(ii) amend or supplement the Disclosure Package to correct such
statement or omission; and (iii) supply any amendment or supplement
to you in such quantities as you may reasonably request.
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(d)
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If, at any time when a prospectus
relating to the Securities is required to be delivered under the
Act (including in circumstances where such requirement may be
satisfied pursuant to Rule 172), any event occurs as a result of
which the Final Prospectus as then supplemented would include any
untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein in the light of the
circumstances under which they were made at such time not
misleading, or if it shall be necessary to amend the Registration
Statement, file a new registration statement or
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supplement the Final Prospectus
to comply with the Act or the Exchange Act or the respective rules
thereunder, including in connection with use or delivery of the
Final Prospectus, the Company promptly will (i) notify the
Representatives of any such event, (ii) prepare and file with
the Commission, subject to the second sentence of paragraph (a) of
this Section 5, an amendment or supplement or new registration
statement which will correct such statement or omission or effect
such compliance, (iii) use its best efforts to have any amendment
to the Registration Statement or new registration statement
declared effective as soon as practicable in order to avoid any
disruption in use of the Final Prospectus and (iv) supply any
supplemented Final Prospectus to you in such quantities as you may
reasonably request.
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(e)
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As soon as practicable, the
Company will make generally available to its security holders and
to the Representatives an earnings statement or statements of the
Company and its subsidiaries which will satisfy the provisions of
Section 11(a) of the Act and Rule 158.
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(f)
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The Company will furnish to the
Representatives and counsel for the Underwriters, without charge,
signed copies of the Registration Statement (including exhibits
thereto) and to each other Underwriter a copy of the Registration
Statement (without exhibits thereto) and, so long as delivery of a
prospectus by an Underwriter or dealer may be required by the Act
(including in circumstances where such requirement may be satisfied
pursuant to Rule 172), as many copies of each Preliminary
Prospectus, the Final Prospectus and each Issuer Free Writing
Prospectus and any supplement thereto as the Representatives may
reasonably request. The Company will pay the expenses of printing
or other production of all documents relating to the
offering.
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(g)
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The Company will arrange, if
necessary, for the qualification of the Securities for sale under
the laws of such jurisdictions as the Representatives may designate
and will maintain such qualifications in effect so long as required
for the distribution of the Securities; 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 or to take any action
that would subject it to service of process in suits, other than
those arising out of the offering or sale of the Securities, in any
jurisdiction where it is not now so subject.
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(h)
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The Company agrees that, unless
it has or shall have obtained the prior written consent of the
Representatives, and each Underwriter, severally and not jointly,
agrees with the Company that, unless it has or shall have obtained,
as the case may be, the prior written consent of the Company, it
has not made and will not make any offer relating to the Securities
that would constitute an Issuer Free Writing Prospectus or that
would otherwise constitute a “free writing prospectus”
(as defined in Rule 405) required to be filed by the Company with
the Commission or retained by the Company under Rule 433, other
than a free writing prospectus containing the information contained
in the final term sheet prepared and filed pursuant to Section 5(b)
hereto; provided that the prior written consent of the parties
hereto shall be deemed to have been given in respect of the Free
Writing Prospectuses included in Schedule III hereto. Any such free
writing prospectus consented to by the Representatives or the
Company is hereinafter referred to as a “Permitted Free
Writing Prospectus.” The Company agrees that (x) it has
treated and
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will treat, as the case may be,
each Permitted Free Writing Prospectus as an Issuer Free Writing
Prospectus and (y) it has complied and will comply, as the case may
be, with the requirements of Rules 164 and 433 applicable to any
Permitted Free Writing Prospectus, including in respect of timely
filing with the Commission, legending and record
keeping.
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(i)
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The Company will not, without the
prior written consent of the Representatives, offer, sell, contract
to sell, pledge, or otherwise dispose of (or enter into any
transaction which is designed to, or might reasonably be expected
to,
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