Exhibit 10.4

 

EXECUTION VERSION

 

AMENDMENT NO. 4 TO THE
FIVE YEAR SENIOR UNSECURED CREDIT AGREEMENT

 

 

Dated as of  June 22, 2012

 

AMENDMENT NO. 4 TO THE FIVE YEAR SENIOR UNSECURED CREDIT AGREEMENT (this
“Amendment”) among TYCO INTERNATIONAL FINANCE S.A., a Luxembourg company (the
“Borrower”), TYCO INTERNATIONAL LTD., a Swiss company (the “Guarantor”), the
LENDERS listed on the signature pages hereto and CITIBANK, N.A., as
Administrative Agent (the “Agent”).

 

PRELIMINARY STATEMENTS:

 

(1)                                  The Borrower, the Guarantor, the Lenders
and the Agent have entered into that certain Five Year Senior Unsecured Credit
Agreement dated as of April 25, 2007 (as amended, supplemented or otherwise
modified through the date hereof, the “Credit Agreement”).  Capitalized terms
not otherwise defined in this Amendment have the same meanings as specified in
the Credit Agreement.

 

(2)                                  The Borrower has notified the Agent that it
desires to amend the Credit Agreement as set forth herein.

 

(3)                                  The Required Lenders are, on the terms and
conditions stated below, willing to grant the request of the Borrower and the
Guarantor and the Borrower and the Guarantor and the Required Lenders have
agreed to further amend the Credit Agreement as hereinafter set forth.

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements
contained in this Amendment, and for other good and valuable consideration, the
receipt and sufficiency of which hereby are acknowledged, the parties hereto
agree as follows:

 

SECTION 1.                                Amendments to Credit Agreement.  The
Credit Agreement is, effective as of the Amendment Effective Date (defined
below) and subject to the satisfaction of the conditions precedent set forth in
Section 2, hereby amended as hereinafter set forth:

 

(a)                                  Section 1.01 (Defined Terms) of the Credit
Agreement is hereby amended as follows:

 

(i)                                     Inserting the following defined terms in
the appropriate alphabetical order:

 

“ADT” means The ADT Corporation, a Delaware corporation.

 

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“Amendment No. 4” means the Amendment No. 4 to this Agreement dated as of
June 22, 2012 by and among Tyco International Finance S.A., Tyco International
Ltd., Citibank, N.A., and the Lenders party thereto.

 

“Amendment No. 4 Effective Date” means June 22, 2012, subject to the
satisfaction of the conditions to effectiveness set forth in Section 2 of
Amendment No. 4.

 

“Flow PubCo” has the meaning assigned to such term as set forth in the
definition of 2012 Separation Transactions.

 

“2012 Separation Transactions” means (a) (x) the contribution to ADT of the
assets, liabilities and equity interests of the North American residential and
small business security business of the Borrower and the Guarantor and (y) the
contribution to a newly-formed Swiss company (“Flow PubCo”) of the assets,
liabilities and equity interests of the flow control business of the Borrower
nad the Guarantor, (b) the distribution of the equity interests of ADT and Flow
PubCo to the equityholders of the Guarantor and (c) the other transactions
ancillary to the foregoing as set forth in the material agreements (along with
schedules and exhibits relating thereto), as amended from time to time, entered
into in connection with clauses (a) and (b) of this definition.

 

(ii)                                  The definition of “Subsidiary Guarantor”
is hereby amended in full to read as follows:

 

“Subsidiary Guarantor” means ADT and each other Subsidiary that has executed a
Subsidiary Guaranty pursuant to Section 5.12 (whether required by Section 5.12
to do so or otherwise).

 

(b)                                 Section 2.07 (Termination and Reduction of
Commitments) is hereby amended by inserting at the end thereof, the following:

 

(d)                                 Concurrently with the effectiveness of
Amendment No. 4 on the Amendment No. 4 Effective Date, the Commitments shall be
deemed reduced by an amount such that after giving effect to such reduction the
aggregate amount of the Commitments is $500,000,000.  The reduction of
Commitments pursuant to this clause (d) shall be permanent and shall be made
ratably among the Lenders in accordance with their respective Commitments.

 

(c)                                  Section 5.11 (Transactions with Affiliates)
is hereby amended by (i) deleting the “or” appearing at the end of clause (ix),
(ii) deleting the period appearing at the end of clause (x) and inserting in
lieu thereof a semi-colon and (iii) inserting the following new clause (xi) at
the end thereof:

 

(xi) engaging in any Affiliate Transaction in connection with the consummation
of the 2012 Separation Transactions.

 

(d)                                 Section 5.13 (Subsidiary Debt) is hereby
amended by (x) deleting the “or” appearing immediately before clause (iv) of the
proviso and inserting in lieu thereof a comma

 

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and (y) deleting the period appearing at the end of such Section 5.13 and
inserting in lieu thereof the following new clause (v):

 

or (v) Debt incurred by any Subsidiary Guarantor.

 

SECTION 2.                                Conditions to Effectiveness.  This
Amendment shall become effective as of the date first above written (the
“Amendment Effective Date”) when, and only when, each of the following
conditions shall have been satisfied (unless waived by the Required Lenders):

 

(a)                                  The Agent shall have received counterparts
of this Amendment executed by the Borrower, the Guarantor and the Required
Lenders.

 

(b)                                 The Agent shall have received written notice
of the Borrower’s reduction of Commitments in accordance with
Section 2.07(d) (as amended by this Amendment).

 

(c)                                  The Agent shall have received the
Subsidiary Guaranty dated as of the date of this Amendment and duly executed and
delivered by The ADT Corporation (“ADT”), a Delaware corporation, in
substantially the form as Exhibit D to the Credit Agreement (provided that such
Subsidiary Guaranty shall provide for the automatic release of ADT from such
Subsidiary Guaranty upon the distribution with respect to the equity interest of
ADT described in clause (b) of the definition of 2012 Separation Transactions in
Section 1.01) and otherwise in form and substance reasonably satisfactory to the
Agent (the “Subsidiary Guaranty”).

 

(d)                                 The Agent shall have received on or before
the date of this Amendment certified copies of the charter, by-laws and other
constitutive documents of ADT and of resolutions of the Board of Directors of
ADT authorizing the transactions contemplated under the Subsidiary Guaranty,
together with incumbency certificates dated the date of this Amendment
evidencing the identity, authority and capacity of each Person authorized to
execute and deliver the Subsidiary Guaranty and any other documents to be
delivered by ADT pursuant hereto or thereto, all in form and substance
reasonably satisfactory to the Agent and its counsel.

 

(e)                                  The Agent shall have received (i) a
favorable opinion of Gibson Dunn & Crutcher, LLP, special New York counsel for
ADT, in substantially the form of Exhibit A-1 hereto and (ii) a favorable
opinion of the General Counsel of ADT, in substantially the form of Exhibit A-2
hereto.

 

(f)                                    The representations and warranties set
forth in Section 3 of this Amendment and the representations and warranties set
forth in Article III to the Credit Agreement (other than Section 3.04,
Section 3.05(a)(i) or (b) or Section 3.09) are true and correct in all material
respects on and as of the Amendment Effective Date (except in the case of any
representation or warranty that by its terms refers to a date other than the
Amendment Effective Date, in which case such representations and warranties were
true and correct in all material respects as of such other date).

 

(g)                                 As of the Amendment Effective Date, no
Default has occurred and is continuing.

 

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(h)                                 If, after giving effect to this Amendment,
the total amount of Revolving Credit Exposures would exceed the then applicable
total Commitments (as reduced hereby) (such amount being the “Excess Amount”),
then the Borrower shall have repaid the outstanding Loans (with all interest
accrued thereon) in an amount equal to the Excess Amount.

 

SECTION 3.                                Representations and Warranties of the
Borrower and Guarantor  Each of the Guarantor and the Borrower represents and
warrants as follows:

 

(a)                                  Each Obligor is a company duly organized or
formed and validly existing under the laws of its jurisdiction of organization
or formation and in good standing under such jurisdiction.

 

(b)                                 The execution, delivery and performance by
each of the Guarantor and the Borrower of this Amendment and the Loan Documents,
as amended hereby, to which it is or is to be a party, and the consummation of
the transactions contemplated hereby, are within the Guarantor’s and Borrower’s
corporate powers, have been duly authorized by all necessary corporate action
and do not (i) do not require any consent or approval of, registration or filing
with, or any other action by, any Governmental Authority, except such as have
been obtained or made and are in full force and effect, and (ii) will not
violate, contravene, or constitute a default under any provision of (A) any
applicable law or regulation and (B) any order, judgment, decree or injunction
of any Governmental Authority.

 

(c)                                  This Amendment has been duly executed and
delivered by the Borrower and the Guarantor.  This Agreement and each other Loan
Document to which each Obligor is a party has been duly executed and delivered
by such Obligor and constitutes a legal, valid and binding obligation of such
Obligor, enforceable in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting
creditors’ rights generally and subject to general principles of equity,
regardless of whether considered in a proceeding in equity or at law.

 

SECTION 4.                                Reference to and Effect on the Credit
Agreement and the Notes.  (a)  On and after the effectiveness of this Amendment,
each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof” or words of like import referring to the Credit Agreement, and each
reference in the Notes and each of the other Loan Documents to “the Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement, as
amended by this Amendment.

 

(b)                                 The Credit Agreement and each of the other
Loan Documents, as specifically amended by this Amendment, are and shall
continue to be in full force and effect and are hereby in all respects ratified
and confirmed.

 

(c)                                  The execution, delivery and effectiveness
of this Amendment shall not, except as expressly provided herein, operate as a
waiver of any right, power or remedy of any Lender or the Agent under any of the
Loan Documents, nor constitute a waiver of any provision of any of the Loan
Documents.  This Amendment shall constitute a Loan Document as such term is
defined in the Credit Agreement.

 

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SECTION 5.                                Costs and Expenses  The Borrower
agrees to pay on demand all costs and expenses of the Agent in connection with
the preparation, execution, delivery and administration, modification and
amendment of this Amendment, the Subsidiary Guaranty and the other instruments
and documents to be delivered hereunder (including, without limitation, the
reasonable fees and expenses of counsel for the Agent) in accordance with the
terms of Section 10.03 of the Credit Agreement.

 

SECTION 6.                                Execution in Counterparts.  This
Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute but one and
the same agreement.  Delivery of an executed counterpart of a signature page to
this Amendment by telecopier shall be effective as delivery of a manually
executed counterpart of this Amendment.

 

SECTION 7.                                Governing Law.  This Amendment shall
be governed by, and construed in accordance with, the laws of the State of
New York.

 

[remainder of page intentionally left blank]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers thereunto duly authorized, as of the date first
above written.

 

 

TYCO INTERNATIONAL FINANCE S.A.,

 

as Borrower

 

 

 

 

 

 

 

By

/s/ Peter Schieser

 

 

Title: Managing Director

 

 

 

 

 

TYCO INTERNATIONAL LTD.,

 

as Guarantor

 

 

 

 

 

 

By:

/s/ Frank Sklarsky

 

 

Title:

Chief Financial Officer and
Executive Vice President

 

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CITIBANK, N.A.,

 

as Agent and as a Lender

 

 

 

 

 

 

By

/s/ Susan Olsen

 

Name: Susan Olsen

 

Title: Vice President

 

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BANK OF AMERICA, N.A., as a Lender

 

 

 

 

 

 

By

/s/ George Hlentzas

 

 

Name: George Hlentzas

 

 

Title: Vice President

 

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AUSTRALIA AND NEW ZEALAND BANKING
GROUP LIMITED, as a Lender

 

 

 

 

 

 

By

/s/ Robert Grillo

 

 

Name: Robert Grillo

 

 

Title: Director

 

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WESTPAC BANKING CORPORATION,

 

as a Lender

 

 

 

 

 

 

By

/s/ David Brumby

 

Name: David Brumby

 

Title: Executive Director Westpac Americas

 

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ING Bank N.V., Dublin Branch, as a Lender

 

 

 

 

 

 

By

/s/ Shaun Hawley

 

Name: Shaun Hawley

 

Title: Vice President

 

 

 

 

 

 

By

/s/ Aidan Neill

 

Name: Aidan Neill

 

Title: Director

 

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BNP PARIBAS, as a Lender

 

 

 

 

 

 

By

/s/ Melissa Balley

 

Name: Melissa Balley

 

Title: Vice President

 

 

 

 

 

 

By

/s/ Angela Bentley Arnold

 

Name: Angela Bentley

 

Title: Managing Director

 

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UBS LOAN FINANCE LLC, as a Lender

 

 

 

 

 

By

/s/ Irja R. Otsa

 

Name: Irja Otsa

 

Title: Associate Director, Banking Products Services US

 

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The Bank of Nova Scotia, as a Lender

 

 

 

 

 

By

/s/ David Schwartzbard

 

Name: David Schwartzbard

 

Title: Director

 

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The Northern Trust Company, as a Lender

 

 

 

 

 

By

/s/ Andrew D. Holtz

 

Name: Andrew D. Holtz

 

Title: Vice President

 

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Morgan Stanley Bank, N.A., as a Lender

 

 

 

 

 

By

/s/ Michael King

 

Name: Michael King

 

Title: Authorized Signatory

 

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JPMORGAN CHASE BANK, N.A., as a Lender

 

 

 

 

 

By

/s/ Matthew H. Massie

 

Name: Matthew H. Massie

 

Title: Managing Director

 

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Intessa Sanpaolo S.p.A. — New York Branch;

 

as a Lender

 

 

 

 

 

 

By

/s/ John J. Michalisin

 

Name: John J. Michalisin

 

Title: First Vice President

 

 

 

 

 

 

 

By

/s/ William S. Denton

 

Name: William S. Denton

 

Title: Global Relationship Manager

 

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GOLDMAN SACHS BANK USA, as a Lender

 

 

 

 

 

By

/s/ Michelle Latzoni

 

Name: Michelle Latzoni

 

Title: Authorized Signatory

 

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Deutsche Bank AG New York Branch, as a Lender

 

 

 

 

 

By

/s/ Ming K. Chu

 

Name: Ming K. Chu

 

Title: Vice President

 

 

 

 

 

 

 

By

/s/ Virginia Cosenza

 

Name: Virginia Cosenza

 

Title: Vice President

 

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Banco Bilbao Vizcaya Argentaria S.A., New York Branch, as a Lender

 

 

 

 

 

 

By

/s/ Mathias Rosenthal

 

Name: Mathias Rosenthal

 

Title: Associate

 

 

 

 

 

 

By

/s/ Paul Rodriguez

 

Name: Paul Rodriguez

 

Title: Vice President

 

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Barclays Bank PLC, as a Lender

 

 

 

 

 

 

By

/s/ Michael Mozer

 

Name: Michael Mozer

 

Title: Vice President

 

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The Bank of New York Mellon, as a Lender

 

 

 

 

 

 

By

/s/ Jeffrey Dears

 

Name: Jeffrey Dears

 

Title: Vice President

 

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EXHIBIT A

 

[GIBSON DUNN LEGAL OPINION]

 

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June 22, 2012

 

The Lenders listed on Schedule I hereto,

and the Agent party to the

Credit Agreement referred to below

(collectively, the “Lender Parties”)

c/o Citibank, N.A., as Agent

 

Re:       The ADT Corporation — Subsidiary Guaranty, dated as of June 22, 2012,
with respect to the Five-Year Senior Unsecured Credit Agreement dated as of
April 25, 2007

 

Ladies and Gentlemen:

 

We have acted as special counsel to The ADT Corporation, a Delaware corporation
(the “Company”), in connection with that certain Amendment No. 4, dated June 22,
2012 (the “Amendment No. 4”), to the Five-Year Senior Unsecured Credit Agreement
dated as of April 25, 2007 (as amended to the date hereof and as further amended
by the Amendment No. 4, the “Credit Agreement”) by and among Tyco International
Finance S.A., Tyco International Ltd., certain lenders as named therein (the
“Lenders”) and Citibank, N.A., as Administrative Agent (the “Agent”).  Each
capitalized term used and not defined herein has the meaning assigned to that
term in the Credit Agreement.

 

This opinion is delivered pursuant to Section 2(e)(i) of the Amendment No. 4.

 

In rendering this opinion, we have examined the originals or copies, certified
or otherwise identified to our satisfaction as being true copies, of the
following documents and instruments:

 

(i)             the Credit Agreement, including the Exhibits and Schedules
thereto; and

 

(ii)                                  the Subsidiary Guaranty, dated as of
June 22, 2012 (the “Subsidiary Guaranty”), made by the Company in favor of the
Agent with respect to the Credit Agreement.

 

The Credit Agreement and the Subsidiary Guaranty are collectively referred to
herein as the “Financing Documents.”

 

We have assumed without independent investigation that:

 

(a)          The signatures on all documents examined by us are genuine, all
individuals executing such documents had all requisite legal capacity and
competency and were duly authorized, the documents submitted to us as originals
are authentic and the documents submitted to us as certified or reproduction
copies conform to the originals;

 

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(b)         The Company is validly existing and, as applicable, in good standing
under the laws of its jurisdiction of organization, has all requisite power to
execute and deliver the Subsidiary Guaranty and to perform its obligations
thereunder, the execution and delivery of the Subsidiary Guaranty by the Company
and performance of its obligations thereunder have been duly authorized by all
necessary corporate or other action and, except as specifically addressed in our
opinions in paragraph 3 below, do not violate any law, rule, regulation, order,
judgment or decree applicable to the Company, and the Subsidiary Guaranty has
been duly executed and delivered by the Company; and

 

(c)          There are no agreements or understandings between or among any of
the parties to the Financing Documents or third parties that would expand,
modify or otherwise affect the terms of the Financing Documents or the
respective rights or obligations of the parties thereunder.

 

In rendering this opinion, we have made such inquiries and examined, among other
things, originals or copies, certified or otherwise identified to our
satisfaction as being true copies, of such records, agreements, certificates,
instruments and other documents as we have considered necessary or appropriate
for purposes of this opinion.  As to certain factual matters, we have relied to
the extent we deemed appropriate and without independent investigation upon the
representations and warranties of the Company in the Subsidiary Guaranty, a
certificate of officers of the Company, a copy of which is attached hereto (the
“Officer’s Certificate”) or certificates obtained from public officials and
others.

 

Based upon the foregoing and in reliance thereon, and subject to the
qualifications, exceptions, assumptions and limitations herein contained, we are
of the opinion that:

 

1.               The Subsidiary Guaranty constitutes a legal, valid and binding
obligation of the Company, enforceable against it in accordance with its terms.

 

2.               The execution and delivery by the Company of the Subsidiary
Guaranty, and performance of its obligations thereunder, do not and will not,
based solely upon review of the documents identified to us in the Officer’s
Certificate as constituting all contracts evidencing or governing Material Debt
(as such term is defined in the Credit Agreement) of the Company, which are
listed in Schedule A hereto (each a “Material Debt Contract”), (A) result in a
material breach of or default under any Material Debt Contract or (B) result in
or require the creation or imposition of any Lien upon any assets of the Company
under any Material Debt Contract, other than Liens permitted by the Credit
Agreement.

 

3.               The execution and delivery by the Company of the Subsidiary
Guaranty, and performance of its obligations thereunder, do not and will not
violate, or require any filing with or approval of any governmental authority or
regulatory body of the State of New York or the

 

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United States of America under, any law, rule or regulation of the State of New
York or the United States of America applicable to the Company that, in our
experience, is generally applicable to transactions in the nature of those
contemplated by the Subsidiary Guaranty.

 

The opinions expressed above are subject to the following additional exceptions,
qualifications, limitations and assumptions:

 

A.           We render no opinion herein as to matters involving the laws of any
jurisdiction other than the State of New York and the United States of America. 
This opinion is limited to the effect of the current state of the laws of the
State of New York and the United States of America and the facts as they
currently exist.  We assume no obligation to revise or supplement this opinion
in the event of future changes in such laws or the interpretations thereof or
such facts.  We express no opinion regarding the Securities Act of 1933, as
amended, or any other federal or state securities laws, rules or regulations.

 

B.             Our opinion in paragraph 1 is subject to (i) the effect of any
bankruptcy, insolvency, reorganization, moratorium, arrangement or similar laws
affecting the rights and remedies of creditors generally (including, without
limitation, the effect of statutory or other laws regarding fraudulent transfers
or preferential transfers or distributions by corporations to stockholders) and
(ii) general principles of equity, including without limitation concepts of
materiality, reasonableness, good faith and fair dealing and the possible
unavailability of specific performance, injunctive relief or other equitable
remedies regardless of whether enforceability is considered in a proceeding in
equity or at law.

 

C.             We express no opinion regarding the effectiveness of (i) any
waiver (whether or not stated as such) under the Financing Documents of, or any
consent thereunder relating to, unknown future rights or the rights of any party
thereto existing, or duties owing to it, as a matter of law; (ii) any waiver
(whether or not stated as such) contained in the Financing Documents of rights
of any party, or duties owing to it, that is broadly or vaguely stated or does
not describe the right or duty purportedly waived with reasonable specificity;
(iii) provisions relating to indemnification, exculpation or contribution, to
the extent such provisions may be held unenforceable as contrary to public
policy or federal or state securities laws or due to the negligence or willful
misconduct of the indemnified party; (iv) any provision in any Financing
Document waiving the right to object to venue in any court; (v) any agreement to
submit to the jurisdiction of any Federal Court; (vi) any waiver of the right to
jury trial; (vii) any provision purporting to establish evidentiary standards;
(viii) any provision to the effect that every right or remedy is cumulative and
may be exercised in addition to any other right or remedy or that the election
of some particular remedy does not preclude recourse to one or more others;
(ix) the availability of damages or other remedies not specified in the
Financing Documents in respect of breach of any covenants (other than covenants
relating to the payment of principal, interest, make whole premium, indemnities
and expenses); (x) any right of setoff to the extent asserted by a participant
in the rights of a Lender under the Financing Documents; or (xi) the effect on
the

 

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enforceability of the guarantee contained in the Subsidiary Guaranty against the
Company of any facts or circumstances occurring after the date hereof that would
constitute a defense to the obligation of a surety, unless such defense has been
waived effectively by the Company.  In addition, we advise you that some of the
provisions of the Financing Documents may not be enforceable by a Lender acting
individually (as opposed to the Lenders acting through the Agent).

 

D.            In rendering our opinions expressed in paragraph 2 insofar as they
require interpretation of Material Debt Contracts, we express no opinion with
respect to the compliance by any Obligor with any covenants included in any
Material Debt Contract to the extent compliance depends on financial
calculations or data.

 

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This opinion is rendered as of the date hereof to the Lender Parties in
connection with the Financing Documents and may not be relied upon by any person
other than the Lender Parties or by the Lender Parties in any other context. 
The Lender Parties may not furnish this opinion or copies hereof to any other
person except (i) to bank examiners and other regulatory authorities should they
so request in connection with their examinations, (ii) to the independent
auditors and attorneys of the Lender Parties, (iii) pursuant to order or legal
process of any court or governmental agency, (iv) in connection with any legal
action to which any Lender Party is a party arising out of the transactions
contemplated by the Financing Documents, or (v) any potential permitted assignee
of or participant in the interest of any Lender Party under the Financing
Documents for its information.  Notwithstanding the foregoing, parties referred
to in clause (v) of the immediately preceding sentence who become Lenders after
the date hereof may rely on this opinion as if it were addressed to them
(provided that such delivery shall not constitute a re-issue or reaffirmation of
this opinion as of any date after the date hereof).  This opinion may not be
quoted without the prior written consent of this Firm.

 

 

Very truly yours,

 

/s/ Gibson, Dunn & Crutcher LLP

 

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SCHEDULE I — LENDERS

 

Citibank, N.A.

Bank of America, N.A.

JPMorgan Chase Bank, N.A.

Barclays Bank PLC

BNP Paribas

Goldman Sachs Bank USA

Morgan Stanley Bank, N.A.

UBS Loan Finance LLC

Deutsche Bank AG New York Branch

The Bank of New York Mellon

Banco Bilbao Vizcaya Argentaria, S.A. New York Branch

ING Bank N.V., Dublin Branch

The Northern Trust Company

Westpac Banking Corporation

The Bank of Nova Scotia

Australia and New Zealand Banking Group Limited

Intesa Sanpaolo S.p.A.- New York Branch

 

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SCHEDULE A

 

MATERIAL DEBT CONTRACTS

 

1.               Five-Year Senior Unsecured Revolving Credit Agreement, dated as
of June 22, 2012, among The ADT Corporation, Tyco International Ltd., the
lenders party thereto and Citibank, N.A., as Administrative Agent.

 

2.               364-Day Senior Unsecured Bridge Loan Agreement, dated as of
June 22, 2012, among The ADT Corporation, Tyco International Ltd., the lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.

 

3.               Subsidiary Guaranty, dated as of June 22, 2012, made by The ADT
Corporation in favor of Citibank, N.A., as Administrative Agent, with respect to
the Five-Year Senior Unsecured Credit Agreement, dated as of June 22, 2012,
among Tyco International Finance S.A., Tyco International Ltd., the lenders
party thereto and Citibank, N.A., as Administrative Agent.

 

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THE ADT CORPORATION

 

OFFICER’S CERTIFICATE

 

June22, 2012

 

The undersigned, Ravi Tulsyan, does hereby certify to Gibson, Dunn & Crutcher
LLP (“Gibson Dunn”), in his capacity as a Vice President and Treasurer of The
ADT Corporation, a Delaware corporation (the “Company”), in connection with that
certain Amendment No. 4, dated June 22, 2012 (the “Amendment No. 4”), to the
Five-Year Senior Unsecured Credit Agreement dated as of April 25, 2007 (as
amended to the date hereof and as further amended by the Amendment No. 4, the
“Credit Agreement”) by and among Tyco International Finance S.A., Tyco
International Ltd., certain lenders as named therein (the “Lenders”) and
Citibank, N.A., as Administrative Agent (the “Agent”), as follows:

 

1.     I am the duly elected and incumbent Vice President and Treasurer of the
Company and am authorized to execute this Certificate on behalf of the Company.

 

2.     I recognize and acknowledge that this Certificate is being furnished to
Gibson Dunn in connection with the delivery of their legal opinion of even date
herewith pursuant to Section 2(e)(i) of the Amendment No. 4.  I further
understand that Gibson Dunn is relying to a material degree on this Certificate
in rendering that opinion.  On behalf of the Company, I hereby authorize such
reliance.

 

3.     I have asked such questions regarding the meaning of any of the
provisions of this Company as I have considered necessary.

 

4.     To the best of my knowledge, Schedule A attached hereto lists each
contract evidencing or governing Material Debt (as such term is defined in the
Credit Agreement) of the Company, including all amendments and supplements
thereto.

 

Capitalized terms used in this Certificate and not defined shall have the
meanings given to such terms in the Credit Agreement.

 

A copy of this Certificate executed and delivered by facsimile transmission
shall be valid for all purposes.

 

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IN WITNESS WHEREOF, the undersigned has executed this Certificate as of the date
first written above.

 

 

 

/s/ Ravi Tulsyan

 

Name:

Ravi Tulsyan

 

Title:

Vice President and Treasurer

 

Signature Page to ADT Officer’s Certificate for GDC Opinion

 

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SCHEDULE A — MATERIAL DEBT CONTRACTS

 

1.               Five-Year Senior Unsecured Revolving Credit Agreement, dated as
of June 22, 2012, among The ADT Corporation, Tyco International Ltd., the
lenders party thereto and Citibank, N.A., as Administrative Agent.

 

2.               364-Day Senior Unsecured Bridge Loan Agreement, dated as of
June 22, 2012, among The ADT Corporation, Tyco International Ltd., the lenders
party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.

 

3.               Subsidiary Guaranty, dated as of June 22, 2012, made by The ADT
Corporation in favor of Citibank, N.A., as Administrative Agent, with respect to
the Five-Year Senior Unsecured Credit Agreement, dated as of June 22, 2012,
among Tyco International Finance S.A., Tyco International Ltd., the lenders
party thereto and Citibank, N.A., as Administrative Agent.

 

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EXHIBIT B

 

[OPINION OF THE GENERAL COUNSEL OF THE ADT CORPORATION]

 

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June 22, 2012

 

To the Lenders
listed on the signature pages to

the Credit Agreement (as defined below)

and Citibank, N.A., as Administrative Agent

1615 Brett Rd, Bldg #3

New Castle, DE 19720

Attention:  Bank Loans Syndications Department

 

Re:                               The ADT Corporation — Subsidiary Guaranty,
dated as of June 22, 2012, with respect to the Five-Year Senior Unsecured Credit
Agreement dated as of April 25, 2007, as amended.

 

Ladies and Gentlemen:

 

I am the General Counsel of The ADT Corporation, a Delaware corporation (the
“Company”), and in that capacity I have acted as counsel to the Company in
connection with:

 

(i)                                     Amendment No. 4 dated as of June 22,
2012 (“Amendment No. 4”) to the Five-Year Senior Unsecured Credit Agreement
dated as of April 25, 2007 (as amended to the date hereof and as further amended
by Amendment No. 4, the “Credit Agreement”) by and among Tyco International
Finance S.A., Tyco International Ltd., a Swiss company (the “Guarantor”),
certain Lenders (the “Lenders”) and Citibank, N.A., as Administrative Agent (the
“Administrative Agent”); and

 

(ii)                                  the Subsidiary Guaranty dated as of
June 22, 2012 (the “Subsidiary Guaranty”) made by the Company in favor of the
Administrative Agent, with respect to the Credit Agreement.

 

This opinion is delivered to you pursuant to Section 2(e)(ii) of Amendment
No. 4.  In connection with rendering this opinion, I have examined the Credit
Agreement, the Subsidiary Guaranty and such other agreements, records,
certificates and documents, as we have deemed necessary or advisable.  I have
examined and relied upon, to the extent that I have deemed such reliance proper,
such certificates of public officials and have made such investigation as I
considered necessary for the purposes of the opinions expressed herein. 
Capitalized terms not otherwise defined herein shall have the same meanings
assigned to them in the Credit Agreement, unless the context otherwise requires.

 

I am of the opinion that:

 

The Company is a validly existing corporation in good standing under the laws of
the State of Delaware, and has all requisite corporate power to execute and
deliver the Subsidiary Guaranty and to perform its obligations thereunder.

 

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The execution and delivery by the Company of the Subsidiary Guaranty and the
performance of its obligations thereunder have been duly authorized by all
necessary corporate action.  The Subsidiary Guaranty has been duly executed and
delivered by the Company.

 

The execution and delivery by the Company of the Subsidiary Guaranty, and
performance of its obligations thereunder, do not and will not violate the
certificate of incorporation or bylaws of the Company.

 

The execution and delivery by the Company of the Subsidiary Guaranty, and
performance of its obligations thereunder, do not and will not violate, or
require any filing with or approval of any governmental authority or regulatory
body of the State of Delaware under, the Delaware General Corporation Law.

 

There is no action, suit or proceeding pending, or, to the best of my knowledge,
threatened against or affecting, the Company before any court or arbitrator or
any governmental body, agency or official that could, based upon the facts and
circumstances in existence on the date hereof, reasonably be expected to have a
Material Adverse Effect or that affects the validity of the Loan Documents,
except as disclosed in the Guarantor’s filings on Forms 10K, 10Q or 8K or the
Company’s filings on the Amended Form 10-12B/A filed with the SEC on May 25,
2012 (the “Existing Litigation”), in each case, on or before the date hereof,
and except for shareholders’ derivative litigation or shareholders’ class
actions based on the same facts and circumstances as the Existing Litigation.

 

The Company is not required to register as an “investment company” within the
meaning of the Investment Company Act of 1940, as amended.

 

I render no opinion herein as to matters involving the laws of any jurisdiction
other than the laws of the State of Texas and the United States of America and,
for purposes of paragraphs 1, 2, 3 and 4 above, the Delaware General Corporation
Law.   I am not admitted to practice in the State of Delaware; however, I am
generally familiar with the Delaware General Corporation Law as currently in
effect and have made such inquiries as I consider necessary to render the
opinions contained in paragraphs 1, 2, 3 and 4 above.  Except as expressly set
forth in paragraph 6 above, I express no opinion regarding the Securities Act of
1933, as amended, or any other federal or state securities laws, rules or
regulations.

 

This opinion is based on my knowledge of the law and facts as of the date
hereof.  I assume no duty to update or supplement this opinion to reflect any
facts or circumstances that may hereafter come to my attention or to reflect any
changes in any law which may hereafter occur or become effective.

 

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This opinion is rendered solely for your benefit and the benefit of your
permitted successors and assigns in connection with the transactions
contemplated by the Credit Agreement and is not to be used for any other purpose
or circulated to any other person except (i) to bank examiners and other
regulatory authorities should they so request in connection with their
examinations, (ii) to the independent auditors and attorneys of the
Administrative Agent and the Lenders, (iii) pursuant to order or legal process
of any court or governmental agency, or (iv) in connection with any legal action
to which the Administrative Agent or any Lender is a party arising out of the
transactions contemplated by the Credit Agreement.  This opinion may not be
quoted or otherwise referred to for any purpose without, in each case, my
written permission.

 

 

THE ADT CORPORATION

 

 

 

 

 

/s/ David Bleisch

 

N. David Bleisch

 

General Counsel

 

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