Exhibit 1.1
EXECUTION COPY
Jarden Corporation
12,000,000 Shares
Underwriting Agreement
New York, New York
April 21, 2009
Barclays Capital Inc.
745 Seventh Avenue
New York, New York 10019
Ladies and Gentlemen:
Jarden Corporation, a Delaware
corporation (the “ Company ”), proposes
to issue and sell to you (the “ Underwriter
”) 12,000,000 shares of Common Stock, $0.01 par value (the
“ Common Stock ”), of the Company (the
“ Securities ”). This agreement (this
“ Agreement ”) is to confirm the
agreement concerning the sale of the Securities from the Company to
the Underwriter.
The use of the neuter in this
Agreement shall include the feminine and masculine wherever
appropriate. Any reference herein to the Registration Statement,
the Disclosure Package, the Base Prospectus, 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 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 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
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 Prospectus, as the case may be,
deemed to be incorporated therein by reference. Certain terms used
herein are defined in Section 20 hereof.
1. Representations and
Warranties .
The Company represents and warrants
to, and agrees with, the Underwriter as set forth below in this
Section 1.
(a) The Company meets the
requirements for the 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 on Form S-3
(File No. 333-138302), including the related Base Prospectus,
for registration under the Act of the offering and sale of the
Securities. Such Registration Statement, including any 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 Prospectuses, each of which has
previously been furnished to you. The Company will file with the
Commission a
Prospectus relating to the
Securities in accordance with Rule 424(b). As filed, the Prospectus
shall contain all information required by the Act and the rules
thereunder, and, except to the extent the Underwriter 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).
(b) On the Effective Date, the
Registration Statement did, and when the Prospectus is first filed
(if required) in accordance with Rule 424(b) and on the
Closing Date (as defined herein), the Prospectus (and any
supplement thereto) will, comply in all material respects with the
applicable requirements of the Act and the Exchange Act and the
respective rules thereunder; the Registration Statement or any
amendment thereto, did not at the time such Registration Statement
or any amendment (or any part thereof) became effective contain any
untrue statement of a material fact or omit a material fact
required to be stated therein or necessary to make the statements
contained therein, not misleading; and the Prospectus (together
with any supplement thereto) as of its date and 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
contained 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 the
information contained in or omitted from the Registration Statement
or the Prospectus (or any supplement thereto) in reliance upon and
in conformity with information furnished in writing to the Company
by the Underwriter specifically for inclusion in the Registration
Statement or the Prospectus (or any supplement thereto), it being
understood and agreed that the only such information furnished by
the Underwriter consists of the information described as such in
Section 9 hereof.
(c) The Disclosure Package did not,
as of the Execution Time, 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, except that the price
of the Securities and disclosures directly relating to the
Securities will be included on the cover page of the Prospectus.
Each road show that is an Issuer Free Writing Prospectus but not
required to be filed pursuant to Rule 433 when taken together as
whole with the Disclosure Package did not, as of the Execution
Time, 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, except that the price of the Securities and
disclosures directly relating to the Securities will be included on
the cover page of the Prospectus. The preceding sentences do not
apply to statements in or omissions from the Disclosure Package
based upon and in conformity with written information furnished to
the Company by the Underwriter specifically for use therein, it
being understood and agreed that the only such information
furnished by the Underwriter consists of the information described
as such in Section 9 hereof.
(d)(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).
(e)(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.
(f) Each Issuer Free Writing
Prospectus does not include any information that conflicts with the
information then contained in the Registration Statement, including
any document incorporated therein and any prospectus supplement
deemed to be a part thereof that has not been superseded or
modified. The foregoing 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 the
Underwriter specifically for use therein, it being understood and
agreed that the only such information furnished by the Underwriter
consists of the information described as such in Section 9
hereof.
(g) The Company’s Annual
Report on Form 10-K for the year ended December 31, 2008
incorporated by reference in the Disclosure Package and the
Prospectus, comply in all material respects with the requirements
of the Exchange Act, and any documents so filed and incorporated by
reference subsequent to the date of this Agreement (including the
Quarterly Report on Form 10-Q for the fiscal quarter ended
March 31, 2009 to be filed with the Commission) and prior to
or on the Closing Date, when they are filed with the Commission,
shall conform in all material respects with the requirements of the
Exchange Act, and when read together with the other information in
the Disclosure Package or the Prospectus, do not contain an untrue
statement of a material fact or omit to state a material fact
necessary to make the statements therein, in light of the
circumstances under which they were made, not
misleading;
(h) The Company is subject to and in
full compliance with the reporting requirements of Section 13
or Section 15(d) of the Exchange Act.
(i) Each of the Company and its
Significant Subsidiaries has been duly incorporated or organized
and is validly existing as a corporation, or limited liability
company in good standing under the laws of the jurisdiction in
which it is chartered or organized with full corporate, or limited
liability company power and authority (corporate or otherwise) to
own or lease, as the case may be, and to operate its properties and
conduct its business as described in the Disclosure Package and the
Prospectus, and is duly qualified to do business as a foreign
corporation and is in good standing under the laws of each
jurisdiction which requires such qualification, except where the
failure to be in good standing or duly qualified (i) could not
reasonably be expected to have a material adverse effect on the
performance of this Agreement or the consummation of the
transactions contemplated hereby; or (ii) could not reasonably
be expected to have a material adverse effect on the financial
condition, prospects, earnings, business or properties of the
Company and its subsidiaries, taken as a whole, whether or not
arising from transactions in the ordinary course of business (a
“ Material Adverse Effect ”). Other than
the subsidiaries listed on Annex A hereto (the “
Significant Subsidiaries ,” and each a “
Significant Subsidiary ”), the Company does not
have any “significant subsidiary,” as that term is
defined in Rule 1-02(w) of Regulation S-X under the Act.
(j) All the outstanding shares of
capital stock, or equity interests in the case of a limited
liability company, of each subsidiary have been duly and validly
authorized and issued and are fully paid and nonassessable, and,
except for directors’ qualifying or nominal shares or as
otherwise disclosed in the Disclosure Package and the Prospectus,
all outstanding shares of capital stock or other equity interests
of the subsidiaries are owned by the Company either directly or
through wholly-owned, except for directors’ qualifying or
nominal shares, subsidiaries free and clear of any perfected
security interest or any other security interests, claims or liens,
except for any such perfected security interest or any other
security interests, claims or liens that would not, individually or
in the aggregate, reasonably be expected to have a Material Adverse
Effect.
(k) The Common Stock of the Company
conforms in all material respects to the description thereof
contained in the Disclosure Package and the Prospectus. The
outstanding shares of Common Stock have been duly and validly
authorized and issued and are fully paid and nonassessable; the
Securities being sold by the Company have been duly and validly
authorized, and, when issued and delivered to and paid for by the
Underwriter pursuant to this Agreement, will be fully paid and
nonassessable; the Securities being sold by the Company are duly
listed, and admitted and authorized for trading, subject to
official notice of issuance, on the New York Stock Exchange; the
certificates for the Securities are in valid and sufficient form;
the holders of outstanding shares of capital stock of the Company
are not entitled to preemptive or other rights to subscribe for the
Securities; and, except as set forth in the Disclosure Package and
the Prospectus, no options, warrants or other rights to purchase,
agreements or other obligations to issue, or rights to convert any
obligations into or exchange any securities for, shares of capital
stock of or ownership interests in the Company are
outstanding.
(l) There is no franchise, contract
or other document of a character required to be described in the
Registration Statement, the Disclosure Package or the Prospectus,
or to be filed as an exhibit thereto, which is not described or
filed as required; and the statements in the Disclosure Package and
the Prospectus under the heading “Material U.S. Federal
Income Tax Considerations for Non U.S. Holders” and the
statements in the Company’s Annual Report on Form 10-K for
the year ended December 31, 2008 under “Item 3 –
Legal Proceedings” incorporated by reference in the
Disclosure Package and the Prospectus insofar as such statements
summarize legal matters, agreements, documents or proceedings
discussed therein, are accurate and fair summaries in all material
respects of such legal matters, agreements, documents or
proceedings.
(m) This Agreement has been duly
authorized, executed and delivered by the Company.
(n) The Company is not and, after
giving effect to the offering and sale of the Securities and the
application of the proceeds thereof as described under the heading
“Use of Proceeds” in the Disclosure Package and the
Prospectus, will not be an “investment company” as
defined in the Investment Company Act of 1940, as
amended.
(o) No consent, approval,
authorization, filing with or order of any court or governmental
agency or body is required in connection with the transactions
contemplated hereby, except such as may be required under the Act,
the New York Stock Exchange and the blue sky laws of any
jurisdiction in connection with the purchase and distribution of
the Securities by the Underwriter in the manner contemplated herein
and in the Disclosure Package and the Prospectus and except as may
be required by applicable state gaming laws with respect to holders
of the Securities.
(p) The execution, delivery and
performance of this Agreement and the issuance of the Securities by
the Company and the consummation of the transactions contemplated
hereby have been duly authorized by all necessary corporate action
and will not conflict with, result in a breach or violation of, or
imposition of any lien, charge or encumbrance upon any property or
assets of the Company or any of its Significant Subsidiaries
pursuant to, (i) the certificate of incorporation, by-laws or
other organizational documents of the Company or any of its
subsidiaries, (ii) the terms of any indenture, contract,
lease, mortgage, deed of trust, note agreement, loan agreement or
other agreement, obligation, condition, covenant or instrument to
which the Company or any of its Significant Subsidiaries is a party
or bound or to which its or their property is subject, or
(iii) any statute, law, rule, regulation, judgment, order or
decree applicable to the Company or any of its Significant
Subsidiaries of any court, regulatory body, administrative agency,
governmental body, arbitrator or other authority having
jurisdiction over the Company or any of its Significant
Subsidiaries or any of its or their properties; except in the case
of clauses (ii) and (iii) for such conflicts, breaches or
violations that could not reasonably be expected to have a Material
Adverse Effect.
(q) No holders of securities of the
Company have rights to the registration of such securities under
the Registration Statement.
(r) The consolidated historical
financial statements and schedules of the Company and its
consolidated subsidiaries, included or incorporated by reference in
the Disclosure Package, the Prospectus and the Registration
Statement present fairly in all material respects the financial
condition, results of operations and cash flows of the Company and
its consolidated subsidiaries as of the dates and for the periods
indicated, comply as to form in all material respects with the
applicable accounting requirements of the Act and have been
prepared in conformity with generally accepted accounting
principles in the United States of America (“
GAAP ”) throughout the periods involved (except
as otherwise noted therein).
(s) No action, suit or proceeding by
or before any court or governmental agency, authority or body or
any arbitrator involving the Company or any of its Significant
Subsidiaries or its or their property is pending or, to the best
knowledge of the Company, threatened that could, individually or in
the aggregate, reasonably be expected to have a Material Adverse
Effect, except as set forth in or contemplated in the Disclosure
Package and the Prospectus (exclusive of any supplement
thereto).
(t) The Company and each of its
Significant Subsidiaries have good and marketable title in fee
simple to all real property and good and marketable title to all
personal property owned by them, in each case free and clear of all
liens, encumbrances and defects except such as are described in the
Disclosure Package and the Prospectus and such as do not materially
affect the value of the property of the Company and its
subsidiaries taken as a whole and do not materially interfere with
the use made and proposed to be made of such property by the
Company or any of its Significant Subsidiaries; and all real
property and buildings held under lease by the Company or any of
its Significant Subsidiaries are held by them under valid,
subsisting and enforceable leases, with such exceptions as could
not reasonably be expected to have a Material Adverse
Effect.
(u) Neither the Company nor any of
its Significant Subsidiaries is in violation or default of
(i) any provision of its certificate of incorporation, by-laws
or other organizational document, other than dormant, inactive or
immaterial subsidiaries, (ii) the terms of any indenture,
contract, lease, mortgage, deed of trust, note agreement, loan
agreement or other agreement, obligation, condition, covenant or
instrument to which it is a party or bound or to which
its
property is subject, or
(iii) any statute, law, rule, regulation, judgment, order or
decree of any court, regulatory body, administrative agency,
governmental body, arbitrator or other authority having
jurisdiction over the Company or such subsidiary or any of its
properties, as applicable, other than such defaults in the case of
clauses (ii) and (iii) which could not, individually or
in the aggregate, have a Material Adverse Effect.
(v) Ernst & Young LLP, who
have certified certain financial statements of the Company and its
consolidated subsidiaries and delivered their report with respect
to the audited consolidated financial statements and schedules
included or incorporated by reference in the Disclosure Package and
the Prospectus, are independent public accountants with respect to
the Company within the meaning of the Act.
(w) Pricewaterhouse Coopers LLP, who
have certified certain financial statements of the Company and its
consolidated subsidiaries and delivered their report with respect
to the audited consolidated financial statements and schedules
included or incorporated by reference in the Disclosure Package and
the Prospectus, are independent public accountants with respect to
the Company within the meaning of the Act.
(x) There are no transfer taxes or
other similar fees or charges under federal law or the laws of any
state, or any political subdivision thereof, required to be paid in
connection with the execution and delivery of this Agreement or the
issuance by the Company or sale by the Company of the
Securities.
(y) The Company has filed all
foreign, federal, state and local tax returns that are required to
be filed or has requested extensions thereof (except in any case in
which the failure so to file would not have a Material Adverse
Effect), except as set forth in or contemplated in the Disclosure
Package and the Prospectus (exclusive of any supplement thereto)
and has timely paid all taxes required to be paid by it and any
other assessment, fine or penalty levied against it, to the extent
that any of the foregoing is due and payable, except for any such
assessment, fine or penalty that is currently being contested in
good faith or with respect to which the failure to pay would not
have a Material Adverse Effect, except as set forth in or
contemplated in the Disclosure Package and the Prospectus
(exclusive of any supplement thereto).
(z) No labor problem or dispute with
the employees of the Company or any of its Significant Subsidiaries
exists or is threatened or imminent, and the Company is not aware
of any existing or imminent labor disturbance by the employees of
any of its or its subsidiaries’ principal suppliers,
contractors or customers, that could reasonably be expected to have
a Material Adverse Effect, except as set forth in or contemplated
in the Disclosure Package and the Prospectus (exclusive of any
supplement thereto).
(aa) The Company and each of its
Significant Subsidiaries are insured by insurers of recognized
financial responsibility against such losses and risks and in such
amounts as are adequate and customary in the businesses in which
they are engaged; all policies of insurance and fidelity or surety
bonds insuring the Company or any of its Significant Subsidiaries
or their respective businesses, assets, employees, officers and
directors are in full force and effect; the Company and its
Significant Subsidiaries are in compliance with the terms of such
policies and instruments in all material respects; and there are no
claims by the Company or any of its Significant Subsidiaries under
any such policy or instrument as to which any insurance company is
denying liability except as have been disclosed by the Company or
the denial of which could not reasonably be expected to have a
Material Adverse Effect; neither the Company nor any such
Significant Subsidiary has been refused any insurance coverage
sought or applied for; and neither
the Company nor any such Significant
Subsidiary (to the Company’s knowledge) has any reason to
believe that it will not be able to renew its existing insurance
coverage as and when such coverage expires or to obtain similar
coverage from similar insurers as may be necessary to continue its
business at a cost that could not reasonably be expected to have a
Material Adverse Effect, except as set forth in or contemplated in
the Disclosure Package and the Prospectus (exclusive of any
supplement thereto).
(bb) No Significant Subsidiary of
the Company is currently prohibited, directly or indirectly from
paying any dividends to the Company, from making any other
distribution on such Significant Subsidiary’s capital stock,
from repaying to the Company any loans or advances to such
Significant Subsidiary from the Company or from transferring any of
such Significant Subsidiary’s property or assets to the
Company or any other subsidiary of the Company, except as described
in or contemplated by the Disclosure Package and the Prospectus
(exclusive of any supplement thereto).
(cc) The Company and its Significant
Subsidiaries possess all licenses, certificates, permits and other
authorizations issued by the appropriate federal, state or foreign
regulatory authorities necessary to conduct their respective
businesses, except where the failure to have such license,
certificate, permit or authorization could not reasonably be
expected to have a Material Adverse Effect, and neither the Company
nor any such Significant Subsidiary has received any notice of
proceedings relating to the revocation or modification of any such
certificate, authorization or permit which, singly or in the
aggregate, if the subject of an unfavorable decision, ruling or
finding, could reasonably be expected to have a Material Adverse
Effect, except as set forth in or contemplated in the Disclosure
Package and the Prospectus (exclusive of any supplement
thereto).
(dd) The Company and its Significant
Subsidiaries maintain adequate internal controls over financial
reporting as defined in Rules 13a-15(f) and 15d-15(f) under the
Exchange Act designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with GAAP; the
Company’s internal controls over financial reporting include
those polices and procedures that (i) pertain to the
maintenance of records that, in reasonable detail, accurately and
fairly reflect the transactions and dispositions of the assets of
the Company; (ii) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of
financial statements in accordance with GAAP, and that receipts and
expenditures of the Company are being made only in accordance with
authorizations of management and directors of the Company; and
(iii) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or disposition of
the Company’s assets that could have a material effect on the
financial statements. The Company and its subsidiaries’
internal controls over financial reporting are effective as of the
effective date and the Company and its Significant Subsidiaries are
not aware of any material weakness in their internal control over
financial reporting.
(ee) The Company and its Significant
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.
(ff) Neither the Company nor, to the
Company’s knowledge, any of its subsidiaries has taken,
directly or indirectly, any action designed to or that would
constitute or that might reasonably be expected to cause or result
in, under the Exchange Act or otherwise, stabilization or
manipulation of the price of any security of the Company to
facilitate the sale or resale of the Securities.
(gg) The Company and its Significant
Subsidiaries are (i) in compliance with any and all applicable
foreign, federal, state and local laws and regulations relating to
the protection of human health and safety, the environment or
hazardous or toxic substances or wastes, pollutants or contaminants
(“ Environmental Laws ”), (ii) have
received and are in compliance with all permits, licenses or other
approvals required of them under applicable Environmental Laws to
conduct their respective businesses and (iii) have not
received written notice of any actual or potential liability under
any environmental law, except in the case of each of clauses (i),
(ii) and (iii) above, for any such matter that could not,
individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect, except as set forth in or contemplated in
the Disclosure Package and the Prospectus (exclusive of any
supplement thereto).
(hh) In the ordinary course of its
business, the Company periodically reviews the effect of
Environmental Laws on the business, operations and properties of
the Company and its subsidiaries, in the course of which it
identifies and evaluates associated costs and liabilities
(including, without limitation, any capital or operating
expenditures required for clean-up, closure of properties or
compliance with Environmental Laws, or any permit, license or
approval, any related constraints on operating activities and any
potential liabilities to third parties). On the basis of such
review, the Company has reasonably concluded that such associated
costs and liabilities would not, singly or in the aggregate, have a
Material Adverse Effect, except as set forth in or contemplated in
the Disclosure Package and the Prospectus (exclusive of any
supplement thereto).
(ii) The Company and its Significant
Subsidiaries own, possess, license or have other rights to use, on
reasonable terms, all patents, patent applications, trade and
service marks, trade and service mark registrations, trade names,
copyrights, licenses, inventions, trade secrets, technology,
know-how and other intellectual property necessary for the conduct
of the Company’s business (collectively, the “
Intellectual Property ”) as now conducted or as
proposed to be conducted in the Disclosure Package and the
Prospectus, except where the failure to own, possess, license or
have other rights to use such Intellectual Property would not
reasonably be expected to have a Material Adverse Effect. To the
Company’s knowledge, there are no rights of third parties to
any of the Intellectual Property (other than the rights of
licensors in Intellectual Property that is licensed to the Company
and its subsidiaries or such rights that are not inconsistent with
the Company’s rights), except for any such rights of third
parties that would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. To the
Company’s knowledge, there is no infringement by third
parties of any of the Intellectual Property, except for any such
infringement by third parties that would not, individually or in
the aggregate, reasonably be expected to have a Material Adverse
Effect. There is no pending or, to the Company’s knowledge,
threatened action, suit, proceeding or claim by others challenging
the Company’s rights in or to any of the Intellectual
Property, except for any such action, suit, proceeding or claim
that would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. There is no pending or,
to the Company’s knowledge, threatened action, suit,
proceeding or claim by others challenging the validity or scope of
any of the Intellectual Property, except for any such action, suit,
proceeding or claim that would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse
Effect, and the Company is unaware of any facts that would form a
reasonable basis for such action, suit, proceeding or claim. There
is no pending or, to the Company’s knowledge, threatened
action, suit, proceeding or claim by others that the Company
infringes or otherwise violates any patent, trademark, copyright,
trade secret or other proprietary rights of others, except for any
such action, suit, proceeding or claim that would not, individually
or in the aggregate, reasonably be expected to have a Material
Adverse Effect.
(jj) The minimum funding standard
under Section 302 of the Employee Retirement Income Security
Act of 1974, as amended, and the regulations thereunder (“
ERISA ”), has been satisfied by each
“pension plan” (as defined in Section 3(2) of
ERISA) which has been established or maintained by the Company
and/or one or more of its subsidiaries, and the trust forming part
of each such plan which is intended to be qualified under
Section 401 of the Code is so qualified, except where the
failure of the pension plan to satisfy such minimum funding
standards would not, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect; each of the Company
and its subsidiaries has fulfilled its obligations, if any, under
Section 515 of ERISA; each pension plan and welfare plan
established or maintained by the Company and/or one or more of its
subsidiaries is in compliance in all material respects with the
currently applicable provisions of ERISA; and neither the Company
nor any of its subsidiaries has incurred or could reasonably be
expected to incur any material withdrawal liability under
Section 4201 of ERISA, any material liability under
Section 4062, 4063, or 4064 of ERISA, or any other material
liability under Title IV of ERISA.
(kk) There is and has been no
failure on the part of the Company and any of the Company’s
directors or officers, in their capacities as such, to comply with
any provision of the Sarbanes Oxley Act of 2002 and the rules and
regulations promulgated in connection therewith (the “
Sarbanes Oxley Act ”), including
Section 402 related to loans and Sections 302 and 906 related
to certifications.
(ll) Neither the Company nor any of
its subs