Document:

exv4w2

Exhibit 4.2

REGISTRATION RIGHTS AGREEMENT

by and among

Commercial Barge Line Company

American Commercial Lines Inc.

American Commercial Lines LLC

ACL Transportation Services LLC

Jeffboat LLC

and

Banc of America Securities LLC

UBS Securities LLC

SunTrust Robinson Humphrey, Inc.

Wachovia Capital Markets, LLC

RBS Securities Inc.

Fifth Third Securities, Inc.

PNC Capital Markets LLC

Dated as of July 7, 2009

 

 

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is made and entered into as of July 7,
2009, by and among Commercial Barge Line Company, a Delaware corporation (the “Company”), American
Commercial Lines Inc., American Commercial Lines LLC, ACL Transportation Services LLC and Jeffboat
LLC (collectively, the “Guarantors”), and Banc of America Securities LLC, as a representative of
the several initial purchasers listed on Schedule A to the Purchase Agreement (collectively, the
“Initial Purchasers”), each of whom has agreed to purchase the Company’s 121/2% Senior Secured Notes
due 2017 (the “Notes”) fully and unconditionally guaranteed by the Guarantors (the “Guarantees”)
pursuant to the Purchase Agreement (as defined below). The Notes and the Guarantees attached
thereto are herein collectively referred to as the “Securities.”

     This Agreement is made pursuant to the Purchase Agreement, dated July 1, 2009 (the “Purchase
Agreement”), among the Company, the Guarantors and the Initial Purchasers (i) for the benefit of
the Initial Purchasers and (ii) for the benefit of the holders from time to time of Transfer
Restricted Securities, including the Initial Purchasers. In order to induce the Initial Purchasers
to purchase the Securities, the Company has agreed to provide the registration rights set forth in
this Agreement. The execution and delivery of this Agreement is a condition to the obligations of
the Initial Purchasers set forth in Section 5(h) of the Purchase Agreement.

     The parties hereby agree as follows:

     SECTION 1. Definitions. As used in this Agreement, the following capitalized terms
shall have the following meanings:

     Additional Interest: As defined in Section 5 hereof.

     Advice: As defined in Section 6(c) hereof.

     Broker-Dealer: Any broker or dealer registered under the Exchange Act.

     Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which
banking institutions or trust companies located in New York, New York are authorized or obligated
to be closed.

     Closing Date: The date of this Agreement.

     Commission: The Securities and Exchange Commission.

     Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the
Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the
Exchange Offer, (ii) the maintenance of such Registration Statement continuously effective and the
keeping of the Exchange Offer open for a period not less than the minimum period required pursuant
to Section 3(b) hereof, and (iii) the delivery by the Company to the Registrar under the Indenture
of Exchange Securities in the same aggregate principal amount as the

 

 

aggregate principal amount of Transfer Restricted Securities that were tendered by Holders
thereof pursuant to the Exchange Offer.

     Exchange Act: The Securities Exchange Act of 1934, as amended.

     Exchange Date: As defined in Section 3(a) hereto.

     Exchange Offer: The registration by the Company under the Securities Act of the Exchange
Securities pursuant to a Registration Statement pursuant to which the Company offers the Holders of
all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding
Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate
principal amount equal to the aggregate principal amount of the Transfer Restricted Securities
tendered in such exchange offer by such Holders.

     Exchange Offer Registration Statement: The Registration Statement relating to the Exchange
Offer, including the related Prospectus.

     Exchange Securities: The 121/2% Senior Secured Notes due 2017, of the same series under the
Indenture as the Transfer Restricted Securities, to be issued to Holders in exchange for Transfer
Restricted Securities pursuant to this Agreement.

     FINRA: Financial Industry Regulatory Authority, Inc.

     Holders: As defined in Section 2(b) hereof.

     Indemnified Holder: As defined in Section 8(a) hereof.

     Indenture: The Indenture, dated as of July 7, 2009, by and among the Company, the Guarantors
and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), pursuant to which
the Securities are to be issued, as such Indenture is amended or supplemented from time to time in
accordance with the terms thereof.

     Initial Purchasers: As defined in the preamble hereto.

     Initial Placement: The issuance and sale by the Company of the Securities to the Initial
Purchasers pursuant to the Purchase Agreement.

     Initial Securities: The Securities issued and sold by the Company to the Initial Purchasers
pursuant to the Purchase Agreement on the Closing Date.

     Interest Payment Date: As defined in the Indenture and the Securities.

     Person: An individual, partnership, corporation, trust or unincorporated organization, or a
government or agency or political subdivision thereof.

     Prospectus: The prospectus included in a Registration Statement, as amended or supplemented
by any prospectus supplement and by all other amendments thereto, including post-effective
amendments, and all material incorporated by reference into such Prospectus.

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     Registration Default: As defined in Section 5 hereof.

     Registration Statement: Any registration statement of the Company relating to (a) an offering
of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of Transfer
Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the
provisions of this Agreement, in each case, including the Prospectus included therein, all
amendments and supplements thereto (including post-effective amendments) and all exhibits and
material incorporated by reference therein.

     Securities: As defined in the preamble hereto.

     Securities Act: The Securities Act of 1933, as amended.

     Shelf Filing Deadline: As defined in Section 4(a) hereof.

     Shelf Registration Statement: As defined in Section 4(a) hereof.

     Transfer Restricted Securities: The Securities; provided that the Securities shall cease to
be Transfer Restricted Securities on the earliest to occur of (i) the date on which a Registration
Statement with respect to such Securities has become effective under the Securities Act and such
Securities have been exchanged or disposed of pursuant to such Registration Statement or (ii) the
date on which such Securities cease to be outstanding.

     Trust Indenture Act: The Trust Indenture Act of 1939, as amended.

     Underwritten Registration or Underwritten Offering: A registration in which securities of the
Company are sold to an underwriter for reoffering to the public.

     SECTION 2. Securities Subject to this Agreement.

     (a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement
are the Transfer Restricted Securities.

     (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer
Restricted Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities.

     SECTION 3. Registered Exchange Offer.

     (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy (after the procedures set forth in Section 6(a) hereof have been complied with), or there
are no Transfer Restricted Securities outstanding, each of the Company and the Guarantors shall (i)
cause to be filed with the Commission, a Registration Statement under the Securities Act relating
to the Exchange Securities and the Exchange Offer, (ii) use its reasonable best efforts to cause
such Registration Statement to become effective, (iii) in connection with the foregoing, file (A)
all pre-effective amendments to such Registration Statement as may be necessary in order to cause
such Registration Statement to become effective, (B) if applicable, a post-effective amendment to
such Registration Statement pursuant to Rule 430A under the Securities

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Act and (C) cause all necessary filings in connection with the registration and qualification
of the Exchange Securities to be made under the state securities or blue sky laws of such
jurisdictions as are necessary to permit Consummation of the Exchange Offer, and (iv) upon the
effectiveness of such Registration Statement, commence the Exchange Offer. Each of the Company and
the Guarantors shall use its reasonable best efforts to Consummate the Exchange Offer not later
than 365 days following the Closing Date (or if such 365th day is not a Business Day, the next
succeeding Business Day) (the “Exchange Date”). The Exchange Offer shall be on the appropriate
form permitting registration of the Exchange Securities to be offered in exchange for the Transfer
Restricted Securities and to permit resales of Transfer Restricted Securities held by
Broker-Dealers as contemplated by Section 3(c) hereof.

     (b) The Company and the Guarantors shall cause the Exchange Offer Registration Statement to be
effective continuously and shall keep the Exchange Offer open for a period of not less than the
minimum period required under applicable federal and state securities laws to Consummate the
Exchange Offer; provided, however, that in no event shall such period be less than 30 days after
the date notice of the Exchange Offer is mailed to the Holders. The Company shall cause the
Exchange Offer to comply with all applicable federal and state securities laws. No securities
other than the Exchange Securities shall be included in the Exchange Offer Registration Statement.
The Company shall use its reasonable best efforts to cause the Exchange Offer to be Consummated by
the Exchange Date.

     (c) The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus
forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for its own account as a result of market-making
activities or other trading activities (other than Transfer Restricted Securities acquired directly
from the Company), may exchange such Transfer Restricted Securities pursuant to the Exchange Offer;
however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the
Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities
Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the
Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such
Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement. Such “Plan
of Distribution” section shall also contain all other information with respect to such resales by
Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto,
but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of
Transfer Restricted Securities held by any such Broker-Dealer except to the extent required by the
Commission as a result of a change in policy after the date of this Agreement.

     Each of the Company and the Guarantors shall use its best efforts to keep the Exchange Offer
Registration Statement continuously effective, supplemented and amended as required by the
provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for
resales of Transfer Restricted Securities acquired by Broker-Dealers for their own accounts as a
result of market-making activities or other trading activities, and to ensure that it conforms with
the requirements of this Agreement, the Securities Act and the policies, rules and regulations of
the Commission as announced from time to time, for a period ending on the earlier of (i) first
anniversary of the date on which the Exchange Offer Registration Statement is declared effective

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and (ii) the date on which a Broker-Dealer is no longer required to deliver a prospectus in
connection with market-making or other trading activities.

     The Company shall provide sufficient copies of the latest version of such Prospectus to
Broker-Dealers promptly upon request at any time during such one-year (or shorter as provided in
the foregoing sentence) period in order to facilitate such resales.

     SECTION 4. Shelf Registration.

     (a) Shelf Registration. If (i) the Company is not required to file an Exchange Offer
Registration Statement or to consummate the Exchange Offer solely because the Exchange Offer is not
permitted by applicable law or Commission policy (after the procedures set forth in Section 6(a)
hereof have been complied with), (ii) for any reason the Exchange Offer is not Consummated by the
Exchange Date or (iii) prior to the exchange date: (A) the Initial Purchasers request from the
Company with respect to Transfer Restricted Securities not eligible to be exchanged for Exchange
Securities in the Exchange Offer, (B) with respect to any Holder of Transfer Restricted Securities
such Holder notifies the Company that (i) such Holder is prohibited by applicable law or Commission
policy from participating in the Exchange Offer, (ii) such Holder may not resell the Exchange
Securities acquired by it in the Exchange Offer to the public without delivering a prospectus and
that the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales by such Holder, or (iii) such Holder is a Broker-Dealer and holds
Transfer Restricted Securities acquired directly from the Company or one of its affiliates or (C)
in the case of any Initial Purchaser, such Initial Purchaser notifies the Company it will not
receive Exchange Securities in exchange for Transfer Restricted Securities constituting any portion
of such Initial Purchaser’s unsold allotment, the Company and the Guarantors shall

     (x) cause to be filed a shelf registration statement pursuant to Rule 415 under the
Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in
either event, the “Shelf Registration Statement”) on or prior to the 30th day after the date
such obligation arises but no earlier than the 365th day after the Closing Date (or if such
365th day is not a Business Day, the next succeeding Business Day) (such date being the
“Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of
all Transfer Restricted Securities the Holders of which shall have provided the information
required pursuant to Section 4(b) hereof; and

     (y) use their reasonable best efforts to cause such Shelf Registration Statement to be
declared effective by the Commission on or before the 30th day after the Shelf Filing
Deadline (or if such 30th day is not a Business Day, the next succeeding Business Day).

     Each of the Company and the Guarantors shall use its reasonable best efforts to keep such
Shelf Registration Statement continuously effective, supplemented and amended as required by the
provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available
for resales of Transfer Restricted Securities by the Holders of such Securities entitled to the
benefit of this Section 4(a), and to ensure that it conforms with the requirements of this
Agreement, the Securities Act and the policies, rules and regulations of the Commission as
announced from

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time to time, from the date on which the Shelf Registration Statement is declared
effective by the Commission until the expiration of the one-year period referred to in Rule 144
applicable to securities held by non-affiliates under the Securities Act (or shorter period that
will terminate when all the Transfer Restricted Securities covered by such Shelf Registration
Statement have been sold pursuant to such Shelf Registration Statement; provided that the Company
may for a period of up to 30 days in any three-month period, not exceed 90 days in any calendar
year, determine that the Shelf Registration Statement is not usable under certain circumstances
relating to corporate developments, public filings with the Commission and similar events, and
suspend the use of the prospectus that is part of the Shelf Registration Statement.

     (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such
Holder furnishes to the Company in writing, within 20 Business Days after receipt of a request
therefor, such information as the Company may reasonably request for use in connection with any
Shelf Registration Statement or Prospectus or preliminary Prospectus included therein. Each Holder
as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the
Company all information required to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially misleading.

     SECTION 5. Additional Interest. If (i) the Exchange Offer has not been Consummated, (ii) any
Shelf Registration Statement, if required hereby, has not been declared effective by the Commission
or (iii) any Registration Statement required by this Agreement has been declared effective but
ceases to be effective at any time at which it is required to be effective under this Agreement
(each such event referred to in clauses (i) through (iii), a “Registration Default”), the Company
hereby agrees that the interest rate borne by the Transfer Restricted Securities shall be increased
by 0.25% per annum during the 90-day period immediately following the occurrence of any
Registration Default and shall increase by 0.25% per annum at the end of each subsequent 90-day
period (such increase, “Additional Interest”), but in no event shall such increase exceed 1.00% per
annum. Following the cure of all Registration Defaults relating to the particular Transfer
Restricted Securities, the interest rate borne by the relevant Transfer Restricted Securities will
be reduced to the original interest rate borne by such Transfer Restricted Securities; provided,
however, that, if after any such reduction in interest rate, a different Registration Default
occurs, the interest rate borne by the relevant Transfer Restricted Securities shall again be
increased pursuant to the foregoing provisions.

     All obligations of the Company and the Guarantors set forth in the preceding paragraph that
are outstanding with respect to any Transfer Restricted Security at the time such security ceases
to be a Transfer Restricted Security shall survive until such time as all such obligations with
respect to such security shall have been satisfied in full.

     SECTION 6. Registration Procedures.

     (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company
and the Guarantors shall comply with all of the provisions of Section 6(c) hereof, shall use their
reasonable best efforts to effect such exchange to permit the sale of Transfer Re-

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stricted Securities being sold in accordance with the intended method or methods of
distribution thereof, and shall comply with all of the following provisions:

     (i) If in the reasonable opinion of counsel to the Company there is a question as to
whether the Exchange Offer is permitted by applicable law, each of the Company and the
Guarantors hereby agrees to seek a no-action letter or other favorable decision from the
Commission allowing the Company and the Guarantors to Consummate an Exchange Offer for such
Transfer Restricted Securities. Each of the Company and the Guarantors hereby agrees to
pursue the issuance of such a decision to the Commission staff level but shall not be
required to take commercially unreasonable action to effect a change of Commission policy.
Each of the Company and the Guarantors hereby agrees, however, to (A) participate in
telephonic conferences with the Commission, (B) deliver to the Commission staff an analysis
prepared by counsel to the Company setting forth the legal bases, if any, upon which such
counsel has concluded that such an Exchange Offer should be permitted and (C) diligently
pursue a favorable resolution by the Commission staff of such submission.

     (ii) As a condition to its participation in the Exchange Offer pursuant to the terms of
this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the
request of the Company, prior to the Consummation thereof, a written representation to the
Company (which may be contained in the letter of transmittal contemplated by the Exchange
Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company,
(B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution of the Exchange Securities
to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its
ordinary course of business. In addition, all such Holders of Transfer Restricted
Securities shall otherwise cooperate in the Company’s preparations for the Exchange Offer.
Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using
the Exchange Offer to participate in a distribution of the securities to be acquired in the
Exchange Offer (1) could not under Commission policy as in effect on the date of this
Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co.,
Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available
May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July
2, 1993, and similar no-action letters (which may include any no-action letter obtained
pursuant to clause (i) above), and (2) must comply with the registration and prospectus
delivery requirements of the Securities Act in connection with a secondary resale
transaction and that such a secondary resale transaction should be covered by an effective
registration statement containing the selling security holder information required by Item
507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities
obtained by such Holder in exchange for Transfer Restricted Securities acquired by such
Holder directly from the Company and has no arrangement or understanding with any person to
participate in the distribution of the Transfer Restricted Securities to be received in the
Exchange Offer.

     (b) Shelf Registration Statement. If required pursuant to Section 4, in connection with the
Shelf Registration Statement, each of the Company and the Guarantors shall comply

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with all the provisions of Section 6(c) hereof and shall use its best efforts to effect such
registration to permit the sale of the Transfer Restricted Securities being sold in accordance with
the intended method or methods of distribution thereof, and pursuant thereto each of the Company
and the Guarantors will as expeditiously as possible prepare and file with the Commission a
Registration Statement relating to the registration on any appropriate form under the Securities
Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance
with the intended method or methods of distribution thereof.

     (c) General Provisions. In connection with any Registration Statement and any Prospectus
required by this Agreement to permit the sale or resale of Transfer Restricted Securities
(including, without limitation, any Registration Statement and the related Prospectus required to
permit resales of Transfer Restricted Securities by Broker-Dealers), each of the Company and the
Guarantors shall:

     (i) use its reasonable best efforts to keep such Registration Statement continuously
effective and provide all requisite financial statements (including, if required by the
Securities Act or any regulation thereunder, financial statements of the Guarantors for the
period specified in Section 3 or 4 hereof, as applicable; upon the occurrence of any event
that would cause any such Registration Statement or the Prospectus contained therein (A) to
contain a material misstatement or omission or (B) not to be effective and usable for resale
of Transfer Restricted Securities during the period required by this Agreement, the Company
shall file promptly an appropriate amendment to such Registration Statement, in the case of
clause (A), correcting any such misstatement or omission, and, in the case of either clause
(A) or (B), use its reasonable best efforts to cause such amendment to be declared effective
and such Registration Statement and the related Prospectus to become usable for their
intended purpose(s) as soon as practicable thereafter;

     (ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep the Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as
applicable, or such shorter period as will terminate when all Transfer Restricted Securities
covered by such Registration Statement have been sold; cause the Prospectus to be
supplemented by any required Prospectus supplement, and as so supplemented to be filed
pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable
provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply
with the provisions of the Securities Act with respect to the disposition of all securities
covered by such Registration Statement during the applicable period in accordance with the
intended method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement to the Prospectus;

     (iii) advise the underwriter(s), if any, and selling Holders promptly and, if requested
by such Persons, to confirm such advice in writing, (A) when the Prospectus or any
Prospectus supplement or post-effective amendment has been filed, and, with respect to any
Registration Statement or any post-effective amendment thereto, when the same has become
effective, (B) of any request by the Commission for amendments to the Reg-

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istration Statement or amendments or supplements to the Prospectus or for additional
information relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement under the Securities Act or of
the suspension by any state securities commission of the qualification of the Transfer
Restricted Securities for offering or sale in any jurisdiction, or the initiation of any
proceeding for any of the preceding purposes, (D) of the existence of any fact or the
happening of any event that makes any statement of a material fact made in the Registration
Statement, the Prospectus, any amendment or supplement thereto, or any document incorporated
by reference therein untrue, or that requires the making of any additions to or changes in
the Registration Statement or the Prospectus in order to make the statements therein not
misleading. If at any time the Commission shall issue any stop order suspending the
effectiveness of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or blue sky laws,
each of the Company and the Guarantors shall use its best efforts to obtain the withdrawal
or lifting of such order at the earliest possible time;

     (iv) furnish without charge to each of the Initial Purchasers, each selling Holder
named in any Registration Statement, and each of the underwriter(s), if any, before filing
with the Commission, copies of any Registration Statement or any Prospectus included therein
or any amendments or supplements to any such Registration Statement or Prospectus (including
all documents incorporated by reference after the initial filing of such Registration
Statement), which documents will be subject to the review and comment of such Holders and
underwriter(s) in connection with such sale, if any, for a period of at least five Business
Days, and the Company will not file any such Registration Statement or Prospectus or any
amendment or supplement to any such Registration Statement or Prospectus (including all such
documents incorporated by reference) to which an Initial Purchaser of Transfer Restricted
Securities covered by such Registration Statement or the underwriter(s), if any, shall
reasonably object in writing within five Business Days after the receipt thereof (such
objection to be deemed timely made upon confirmation of telecopy transmission within such
period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to
be reasonable if such Registration Statement, amendment, Prospectus or supplement, as
applicable, as proposed to be filed, contains a material misstatement or omission;

     (v) promptly prior to the filing of any document that is to be incorporated by
reference into a Registration Statement or Prospectus, provide copies of such document to
the Initial Purchasers, each selling Holder named in any Registration Statement, and to the
underwriter(s), if any, make the Company’s and the Guarantors’ representatives available for
discussion of such document and other customary due diligence matters, and include such
information in such document prior to the filing thereof as such selling Holders or
underwriter(s), if any, reasonably may request;

     (vi) make available at reasonable times for inspection by the Initial Purchasers, the
managing underwriter(s), if any, participating in any disposition pursuant to such
Registration Statement and any attorney or accountant retained by such Initial Purchasers

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or any of the underwriter(s), all financial and other records, pertinent corporate
documents and properties of each of the Company and the Guarantors and cause the Company’s
and the Guarantors’ officers, directors and employees to supply all information reasonably
requested by any such Holder, underwriter, attorney or accountant in connection with such
Registration Statement or any post-effective amendment thereto subsequent to the filing
thereof and prior to its effectiveness and to participate in meetings with investors to the
extent requested by the managing underwriter(s), if any;

     (vii) if requested by any selling Holders or the underwriter(s), if any, promptly
incorporate in any Registration Statement or Prospectus, pursuant to a supplement or
post-effective amendment if necessary, such information as such selling Holders and
underwriter(s), if any, may reasonably request to have included therein, including, without
limitation, information relating to the “Plan of Distribution” of the Transfer Restricted
Securities, information with respect to the principal amount of Transfer Restricted
Securities being sold to such underwriter(s), the purchase price being paid therefor and any
other terms of the offering of the Transfer Restricted Securities to be sold in such
offering; and make all required filings of such Prospectus supplement or post-effective
amendment as soon as practicable after the Company is notified of the matters to be
incorporated in such Prospectus supplement or post-effective amendment;

     (viii) cause the Transfer Restricted Securities covered by the Registration Statement
to be rated with the appropriate rating agencies, if so requested by the Holders of a
majority in aggregate principal amount of Securities covered thereby or the underwriter(s),
if any;

     (ix) furnish to each Initial Purchaser, each selling Holder and each of the
underwriter(s), if any, without charge, at least one copy of the Registration Statement, as
first filed with the Commission, and of each amendment thereto, including financial
statements and schedules, all documents incorporated by reference therein and all exhibits
(including exhibits incorporated therein by reference);

     (x) deliver to each selling Holder and each of the underwriter(s), if any, without
charge, as many copies of the Prospectus (including each preliminary prospectus) and any
amendment or supplement thereto as such Persons reasonably may request; each of the Company
and the Guarantors hereby consents to the use of the Prospectus and any amendment or
supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in
connection with the offering and the sale of the Transfer Restricted Securities covered by
the Prospectus or any amendment or supplement thereto;

     (xi) enter into such agreements (including an underwriting agreement), and make such
representations and warranties, and take all such other actions in connection therewith in
order to expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any Registration Statement contemplated by this Agreement, all to such extent as
may be requested by any Initial Purchaser or by any Holder of Transfer Restricted Securities
or underwriter in connection with any sale or resale pursuant to any Registration Statement
contemplated by this Agreement; and whether or not an under-

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writing agreement is entered into
and whether or not the registration is an Underwritten Registration, each of the Company and the Guarantors shall:

     (A) furnish to each Initial Purchaser, each selling Holder and each
underwriter, if any, in such substance and scope as they may request and as are
customarily made by issuers to underwriters in primary underwritten offerings, upon
the date of the Consummation of the Exchange Offer or, if applicable, the
effectiveness of the Shelf Registration Statement:

     (1) a certificate, dated the date of Consummation of the Exchange Offer
or the date of effectiveness of the Shelf Registration Statement, as the
case may be, signed by (y) the President or any Vice President and (z) a
principal financial or accounting officer of each of the Company and the
Guarantors, confirming, as of the date thereof, the matters set forth in
paragraphs (i), (ii) and (iii) of Section 5(f) of the Purchase Agreement and
such other matters as such parties may reasonably request;

     (2) an opinion, dated the date of Consummation of the Exchange Offer or
the date of effectiveness of the Shelf Registration Statement, as the case
may be, of counsel for the Company and the Guarantors, covering the matters
set forth in Section 5(c) of the Purchase Agreement and such other matters
as such parties may reasonably request, and in any event including a
statement to the effect that such counsel has participated in conferences
with officers and other representatives of the Company and the Guarantors,
representatives of the independent public accountants for the Company and
the Guarantors, representatives of the underwriter(s), if any, and counsel
to the underwriter(s), if any, in connection with the preparation of such
Registration Statement and the related Prospectus and have considered the
matters required to be stated therein and the statements contained therein,
although such counsel has not independently verified the accuracy,
completeness or fairness of such statements; and that such counsel advises
that, on the basis of the foregoing, no facts came to such counsel’s
attention that caused such counsel to believe that the applicable
Registration Statement, at the time such Registration Statement or any
post-effective amendment thereto became effective, and, in the case of the
Exchange Offer Registration Statement, as of the date of Consummation,
contained an untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary to make the
statements therein not misleading, or that the Prospectus contained in such
Registration Statement as of its date and, in the case of the opinion dated
the date of Consummation of the Exchange Offer, as of the date of
Consummation, contained an untrue statement of a material fact or omitted to
state a material fact necessary in order to make the statements therein not
misleading. Without limiting the foregoing, such counsel may state further
that such counsel assumes no responsibility for, and has not independently
verified, the accuracy, completeness or fairness of the financial
statements,

-11-

 

notes and schedules and other financial data included in any
Registration Statement contemplated by this Agreement or the related
Prospectus; and

     (3) a customary comfort letter, dated the date of effectiveness of the
Shelf Registration Statement, from the Company’s independent accountants, in
the customary form and covering matters of the type customarily requested to
be covered in comfort letters by underwriters in connection with primary
underwritten offerings, and covering or affirming the matters set forth in
the comfort letters delivered pursuant to Section 5(a) of the Purchase
Agreement, without exception;

     (B) set forth in full or incorporate by reference in the underwriting
agreement, if any, the indemnification provisions and procedures of Section 8 hereof
with respect to all parties to be indemnified pursuant to said Section; and

     (C) deliver such other documents and certificates as may be reasonably
requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and
with any customary conditions contained in the underwriting agreement or other
agreement entered into by the Company or any of the Guarantors pursuant to this
Section 6(c)(xi), if any.

     If at any time the representations and warranties of the Company and the Guarantors
contemplated in Section 6(c)(xi)(A)(1) hereof cease to be true and correct, the Company or
the Guarantors shall so advise the Initial Purchasers and the underwriter(s), if any, and
each selling Holder promptly and, if requested by such Persons, shall confirm such advice in
writing;

     (xii) prior to any public offering of Transfer Restricted Securities, cooperate with
the selling Holders, the underwriter(s), if any, and their respective counsel in connection
with the registration and qualification of the Transfer Restricted Securities under the
state securities or blue sky laws of such jurisdictions as the selling Holders or
underwriter(s), if any, may request and do any and all other acts or things necessary or
advisable to enable the disposition in such jurisdictions of the Transfer Restricted
Securities covered by the Shelf Registration Statement; provided, however, that none of the
Company or the Guarantors shall be required to register or qualify as a foreign corporation
where it is not then so qualified or to take any action that would subject it to the service
of process in suits or to taxation, other than as to matters and transactions relating to
the Registration Statement, in any jurisdiction where it is not then so subject;

     (xiii) shall issue, upon the request of any Holder of Transfer Restricted Securities
covered by the Shelf Registration Statement, Exchange Securities having an aggregate
principal amount equal to the aggregate principal amount of Transfer Restricted Securities
surrendered to the Company by such Holder in exchange therefor or being sold by such Holder;
such Exchange Securities to be registered in the name of such Holder or in the name of the
purchaser(s) of such Securities, as the case may be; in return, the Transfer Restricted
Securities held by such Holder shall be surrendered to the Company for cancellation;

-12-

 

     (xiv) cooperate with the selling Holders and the underwriter(s), if any, to facilitate
the timely preparation and delivery of certificates representing Transfer Restricted
Securities to be sold and not bearing any restrictive legends; and enable such Transfer
Restricted Securities to be in such denominations and registered in such names as the
Holders or the underwriter(s), if any, may request at least two Business Days prior to any
sale of Transfer Restricted Securities made by such Holders or underwriter(s);

     (xv) use its reasonable best efforts to cause the Transfer Restricted Securities
covered by the Registration Statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the seller or sellers
thereof or the underwriter(s), if any, to consummate the disposition of such Transfer
Restricted Securities, subject to the proviso contained in Section 6(c)(xii) hereof;

     (xvi) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or
have occurred, prepare a supplement or post-effective amendment to the Registration
Statement or related Prospectus or any document incorporated therein by reference or file
any other required document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein
not misleading;

     (xvii) provide a CUSIP number for all Securities not later than the effective date of
the Registration Statement covering such Securities and provide the Trustee under the
Indenture with printed certificates for such Securities which are in a form eligible for
deposit with the Depository Trust Company and take all other action necessary to ensure that
all such Securities are eligible for deposit with the Depository Trust Company;

     (xviii) cooperate and assist in any filings required to be made with FINRA and in the
performance of any due diligence investigation by any underwriter (including any “qualified
independent underwriter”) that is required to be retained in accordance with the rules and
regulations of FINRA;

     (xix) otherwise use its reasonable best efforts to comply with all applicable rules and
regulations of the Commission, and make generally available to its security holders, as soon
as practicable, a consolidated earnings statement meeting the requirements of Rule 158 under
the Securities Act (which need not be audited) for the twelve-month period (A) commencing at
the end of any fiscal quarter in which Transfer Restricted Securities are sold to
underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not sold
to underwriters in such an offering, beginning with the first month of the Company’s first
fiscal quarter commencing after the effective date of the Registration Statement;

     (xx) cause the Indenture to be qualified under the Trust Indenture Act not later than
the effective date of the first Registration Statement required by this Agreement, and, in
connection therewith, cooperate with the Trustee and the Holders of Securities to effect
such changes to the Indenture as may be required for such Indenture to be so qualified in
accordance with the terms of the Trust Indenture Act; and to execute and use its

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best efforts to cause the Trustee to execute, all documents that may be required to effect
such changes and all other forms and documents required to be filed with the Commission
to enable such Indenture to be so qualified in a timely manner;

     (xxi) cause all Securities covered by the Registration Statement to be listed on each
securities exchange or automated quotation system on which similar securities issued by the
Company are then listed if requested by the Holders of a majority in aggregate principal
amount of Securities or the managing underwriter(s), if any; and

     (xxii) provide promptly to each Holder upon request each document filed with the
Commission pursuant to the requirements of Section 13 and Section 15 of the Exchange Act.

     Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any
notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D)
hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities
pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised
in writing (the “Advice”) by the Company that the use of the Prospectus may be resumed, and has
received copies of any additional or supplemental filings that are incorporated by reference in the
Prospectus. If so directed by the Company, each Holder will deliver to the Company (at the
Company’s expense) all copies, other than permanent file copies then in such Holder’s possession,
of the Prospectus covering such Transfer Restricted Securities that was current at the time of
receipt of such notice. In the event the Company shall give any such notice, the time period
regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as
applicable, shall be extended by the number of days during the period from and including the date
of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when
each selling Holder covered by such Registration Statement shall have received the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received
the Advice; provided, however, that no such extension shall be taken into account in determining
whether Additional Interest is due pursuant to Section 5 hereof or the amount of such Additional
Interest, it being agreed that the Company’s option to suspend use of a Registration Statement
pursuant to this paragraph shall be treated as a Registration Default for purposes of Section 5
hereof.

     SECTION 7. Registration Expenses.

     (a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance
with this Agreement will be borne by the Company and the Guarantors, jointly and severally,
regardless of whether a Registration Statement becomes effective, including, without limitation:
(i) all registration and filing fees and expenses (including filings made by any Initial Purchaser
or Holder with FINRA (and, if applicable, the fees and expenses of any “qualified independent
underwriter” and its counsel that may be required by the rules and regulations of FINRA)); (ii) all
fees and expenses of compliance with federal securities and state securities or blue sky laws;
(iii) all expenses of printing (including printing certificates for the Exchange Securities to be
issued in the Exchange Offer and printing of Prospectuses), messenger and delivery services and
telephone; (iv) all fees and disbursements of counsel for the Company, the Guaran-

-14-

 

tors and, subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities; (v) all
application and filing fees in connection with listing the Exchange Securities on a securities
exchange or automated quotation system pursuant to the requirements thereof; and (vi) all fees and
disbursements of independent certified public accountants of the Company and the Guarantors
(including the expenses of any special audit and comfort letters required by or incident to such
performance).

     Each of the Company and the Guarantors will, in any event, bear its internal expenses
(including, without limitation, all salaries and expenses of its officers and employees performing
legal or accounting duties), the expenses of any annual audit and the fees and expenses of any
Person, including special experts, retained by the Company or the Guarantors.

     (b) In connection with any Registration Statement required by this Agreement (including,
without limitation, the Exchange Offer Registration Statement and the Shelf Registration
Statement), the Company and the Guarantors, jointly and severally, will reimburse the Initial
Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer
and/or resold pursuant to the “Plan of Distribution” contained in the Exchange Offer Registration
Statement or registered pursuant to the Shelf Registration Statement, as applicable, for the
reasonable fees and disbursements of not more than one counsel, who shall be Cahill Gordon &
Reindel llp or such other counsel as may be chosen by the Holders of a majority in
principal amount of the Transfer Restricted Securities for whose benefit such Registration
Statement is being prepared.

     SECTION 8. Indemnification.

     (a) The Company and the Guarantors, jointly and severally, agree to indemnify and hold
harmless (i) each Holder and (ii) each Person, if any, who controls (within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act) any Holder (any of the Persons referred
to in this clause (ii) being hereinafter referred to as a “controlling person”) and (iii) the
respective officers, directors, partners, employees, representatives and agents of any Holder or
any controlling person (any Person referred to in clause (i), (ii) or (iii) may hereinafter be
referred to as an “Indemnified Holder”) from and against any and all losses, claims, damages,
liabilities and expenses, joint or several, directly or indirectly caused by, related to, based
upon, arising out of or in connection with any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement or Prospectus (or any amendment or supplement
thereto) or free writing prospectus, in all cases including any documents incorporated by reference
therein, or any omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading; provided, however, that the
indemnification provided for in this Section 8 does not apply to any loss, liability, claim, damage
or expense to the extent arising our of an untrue statement or omission or alleged untrue statement
or omission made in reliance upon and in conformity with written information furnished in writing
to the Company or the Guarantors by the Initial Purchaser, any Holder, or any underwriter,
expressly for use in the Registration Statement (or any amendment or supplement thereto) or in any
Prospectus (or any amendment or supplement thereto). This indemnity agreement shall be in addition
to any liability which the Company or any of the Guarantors may otherwise have.

-15-

 

     In case any action or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to
which indemnity may be sought against the Company or the Guarantors, such Indemnified Holder (or
the Indemnified Holder controlled by such controlling person) shall promptly notify the Company and
the Guarantors in writing; provided, however, that the failure to give such notice shall not
relieve any of the Company or the Guarantors of its obligations pursuant to this Agreement. Such
Indemnified Holder shall have the right to employ its own counsel in any such action and the
reasonable fees and expenses of one counsel shall be paid, as incurred, by the Company and the
Guarantors. The Company and the Guarantors shall not, in connection with any one such action or
proceeding or separate but substantially similar or related actions or proceedings in the same
jurisdiction arising out of the same general allegations or circumstances, be liable for the
reasonable fees and expenses of more than one separate counsel (in addition to any local counsel)
at any time for such Indemnified Holders, which counsel shall be designated by the Holders. The
Company and the Guarantors shall be liable for any settlement of any such action or proceeding
effected with the Company’s and the Guarantors’ prior written consent, which consent shall not be
withheld unreasonably, and each of the Company and the Guarantors agrees to indemnify and hold
harmless any Indemnified Holder from and against any loss, claim, damage, liability or reasonable
expense by reason of any settlement of any action effected with the written consent of the Company
and the Guarantors. The Company and the Guarantors shall not, without the prior written consent of
each Indemnified Holder, settle or compromise or consent to the entry of judgment in or otherwise
seek to terminate any pending or threatened action, claim, litigation or proceeding in respect of
which indemnification or contribution may be sought hereunder (whether or not any Indemnified
Holder is a party thereto), unless such settlement, compromise, consent or termination includes an
unconditional release of each Indemnified Holder from all liability arising out of such action,
claim, litigation or proceeding and does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any Indemnified Holder.

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Company, the Guarantors and their respective directors, officers of
the Company and the Guarantors who sign a Registration Statement, and any Person controlling
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) the
Company or any of the Guarantors, and the respective officers, directors, partners, employees,
representatives and agents of each such Person, to the same extent as the foregoing indemnity from
the Company and the Guarantors to each of the Indemnified Holders, but only with respect to claims
and actions based on the statements or omissions, or alleged untrue statements or omissions,
relating to such Holder furnished in writing by such Holder expressly for use in any Registration
Statement. In case any action or proceeding shall be brought against the Company, the Guarantors
or their respective directors or officers or any such controlling person in respect of which
indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have
the rights and duties given the Company and the Guarantors, and the Company, the Guarantors, their
respective directors and officers and such controlling person shall have the rights and duties
given to each Holder by the preceding paragraph.

     (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified
party under Section 8(a) or (b) hereof (other than by reason of exceptions provided in those

-16-

 

Sections) in respect of any losses, claims, damages, liabilities, judgments, actions or
expenses referred to therein, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages, liabilities or expenses in such proportion as is
appropriate to reflect the relative benefits received by the Company and the Guarantors, on the one
hand, and the Holders, on the other hand, from the Initial Placement (which in the case of the
Company and the Guarantors shall be deemed to be equal to the total gross proceeds to the Company
and the Guarantors from the Initial Placement), the amount of Additional Interest which did not
become payable as a result of the filing of the Registration Statement resulting in such losses,
claims, damages, liabilities, judgments actions or expenses, and such Registration Statement, or if
such allocation is not permitted by applicable law, the relative fault of the Company and the
Guarantors, on the one hand, and the Holders, on the other hand, in connection with the statements
or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as
any other relevant equitable considerations. The relative fault of the Company on the one hand and
of the Indemnified Holder on the other shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission or alleged
omission to state a material fact relates to information supplied by the Company or any of the
Guarantors, on the one hand, or the Indemnified Holders, on the other hand, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The amount paid or payable by a party as a result of the losses, claims,
damages, liabilities and expenses referred to above shall be deemed to include, subject to the
limitations set forth in the second paragraph of Section 8(a) hereof, any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or defending any action
or claim.

     The Company, the Guarantors and each Holder of Transfer Restricted Securities agree that it
would not be just and equitable if contribution pursuant to this Section 8(c) were determined by
pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any
other method of allocation which does not take account of the equitable considerations referred to
in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a
result of the losses, claims, damages, liabilities or expenses referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any
legal or other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 8, none of the Holders (and its related Indemnified Holders) shall be required to
contribute, in the aggregate, any amount in excess of the amount by which the total discount
received by such Holder with respect to the Initial Securities exceeds the amount of any damages
which such Holder has otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to
contribute pursuant to this Section 8(c) are several in proportion to the respective principal
amount of Initial Securities held by each of the Holders hereunder and not joint.

          SECTION 9. Rule 144A. Each of the Company and the Guarantors hereby agrees with each Holder,
for so long as any Transfer Restricted Securities remain outstanding, to make available to any
Holder or beneficial owner of Transfer Restricted Securities in connec-

-17-

 

tion with any sale thereof and any prospective purchaser of such Transfer Restricted
Securities from such Holder or beneficial owner, the information required by Rule 144A(d)(4) under
the Securities Act in order to permit resales of such Transfer Restricted Securities pursuant to
Rule 144A under the Securities Act.

          SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any
Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer
Restricted Securities on the basis provided in any underwriting arrangements approved by the
Persons entitled hereunder to approve such arrangements and (b) completes and executes all
reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up
letters and other documents required under the terms of such underwriting arrangements.

          SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered
by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted
Securities in an Underwritten Offering. In any such Underwritten Offering, the investment
banker(s) and managing underwriter(s) that will administer such offering will be selected by the
Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included
in such offering; provided, however, that such investment banker(s) and managing underwriter(s)
must be reasonably satisfactory to the Company.

          SECTION 12. Miscellaneous.

     (a) Remedies. Each of the Company and the Guarantors hereby agrees that monetary damages
would not be adequate compensation for any loss incurred by reason of a breach by it of the
provisions of this Agreement and hereby agree to waive the defense in any action for specific
performance that a remedy at law would be adequate.

     (b) No Inconsistent Agreements. Each of the Company and the Guarantors will not on or after
the date of this Agreement enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. Neither the Company nor any of the Guarantors has previously entered into
any agreement granting any registration rights with respect to its securities to any Person. The
rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent
with the rights granted to the holders of the Company’s or any of the Guarantors’ securities under
any agreement in effect on the date hereof.

     (c) Adjustments Affecting the Securities. The Company will not take any action, or permit any
change to occur, with respect to the Securities that would materially and adversely affect the
ability of the Holders to Consummate any Exchange Offer.

     (d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions hereof may not be given
unless the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i), obtained the
written consent of Holders of all outstanding Transfer Restricted Securities and (ii) in the case
of all other provisions hereof, obtained the written consent of Holders of a majority of the
outstanding principal amount of Transfer Restricted Securities (ex-

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cluding any Transfer Restricted Securities held by the Company or its Affiliates).
Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that
relates exclusively to the rights of Holders whose securities are being tendered pursuant to the
Exchange Offer and that does not affect directly or indirectly the rights of other Holders whose
securities are not being tendered pursuant to such Exchange Offer may be given by the Holders of a
majority of the outstanding principal amount of Transfer Restricted Securities being tendered or
registered; provided, however, that, with respect to any matter that directly or indirectly affects
the rights of any Initial Purchaser hereunder, the Company shall obtain the written consent of each
such Initial Purchaser with respect to which such amendment, qualification, supplement, waiver,
consent or departure is to be effective.

     (e) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, first-class mail (registered or certified, return receipt
requested), telex, telecopier, or air courier guaranteeing overnight delivery:

     (i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and

     (ii) if to the Company:

Commercial Barge Line Company

1701 East Market Street

Jeffersonville, IN 47130

Telecopier No.: (812) 288-0294

Attention: General Counsel

With a copy to:

Hogan & Hartson LLP

875 Third Avenue

New York, NY 10002

Telecopier No.: (212) 918-3100

Attention: Amy Freed

     All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

     (f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties, including, without limitation, and without the
need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a

-19-

 

successor or assign of a Holder unless and to the extent such successor or assign acquired
Transfer Restricted Securities from such Holder.

     (g) Counterparts. This Agreement may be executed in any number of counterparts and by the
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 one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF.

     (j) Severability. In the event that any one or more of the provisions contained herein, or
the application thereof in any circumstance, is held invalid, illegal or unenforceable, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

     (k) Entire Agreement. This Agreement is intended by the parties as a final expression of
their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. There are
no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted by the Company with respect to the Transfer
Restricted Securities. This Agreement supersedes all prior agreements and understandings between
the parties with respect to such subject matter.

-20-

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	COMMERCIAL BARGE LINE COMPANY

 	 
	 	By:  	/s/ Dawn R. Landry
 	 
	 	 	Name:  	Dawn R. Landry 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	AMERICAN COMMERCIAL LINES INC.

 	 
	 	By:  	/s/ Dawn R. Landry
 	 
	 	 	Name:  	Dawn R. Landry 	 
	 	 	Title:  	Senior Vice President, General Counsel
and Corporate Secretary 	 
	 
	 	AMERICAN COMMERCIAL LINES LLC

 	 
	 	By:  	/s/ Dawn R. Landry
 	 
	 	 	Name:  	Dawn R. Landry 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	ACL TRANSPORTATION SERVICES LLC

 	 
	 	By:  	/s/ Dawn R. Landry
 	 
	 	 	Name:  	Dawn R. Landry 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	JEFFBOAT LLC

 	 
	 	By:  	
/s/ Dawn R. Landry
 	 
	 	 	Name:  	Dawn R. Landry 	 
	 	 	Title:  	Vice President and Secretary 	 

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	 	 	The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date
first above written.

BANC OF AMERICA SECURITIES LLC

UBS SECURITIES LLC

SUNTRUST ROBINSON HUMPHREY, INC.

WACHOVIA CAPITAL MARKETS, LLC

RBS SECURITIES INC.

FIFTH THIRD SECURITIES, INC.

PNC CAPITAL MARKETS LLC

	 	 	 	 	 
	 	 	 
	By:  	              Banc of America Securities LLC
 	 	 
	 	 	 	 
	 	 	 	 
	By:  	/s/ Michael Grimes
 	 	 
	 	Name:  	Michael Grimes 	 	 
	 	Title:  	Vice Presidentexv4w3

Exhibit 4.3

FORM OF 121/2% SENIOR SECURED NOTE

(Face of 121/2% Senior Secured Note)

121/2% Senior Secured Notes due 2017

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER,
EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUIRED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY OR SUCH OTHER REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY) ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO
ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN
PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S
NOMINEE.

THE SECURITY (OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A
TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND THE SECURITY EVIDENCED HEREBY
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH
REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION
FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A
THEREUNDER. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF
THE COMPANY THAT (A) SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED
ONLY (i)(a) TO A PERSON WHO IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE
144A, (b) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES
ACT, (c) OUTSIDE THE UNITED STATES TO A NON-U.S. PERSON IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT, OR (d) IN ACCORDANCE WITH ANOTHER
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON
AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), (ii) TO THE COMPANY, OR (iii)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE
WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER
APPLICABLE JURISDICTION, AND (B) THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS
REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE
RESALE RESTRICTIONS SET FORTH IN CLAUSE (A) ABOVE. NO REPRESENTATION CAN BE MADE AS
TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 FOR RESALE OF THE SECURITY
EVIDENCED HEREBY.

THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET
SEQ. OF THE INTERNAL REVENUE CODE. A HOLDER MAY OBTAIN

 

 

 THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY
FOR SUCH NOTES BY SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO THE ISSUER
AT THE FOLLOWING ADDRESS: AMERICAN COMMERCIAL LINES INC., 1701 EAST MARKET STREET,
JEFFERSONVILLE, INDIANA 47310 ATTENTION: CHIEF FINANCIAL OFFICER.

-2-

 

COMMERCIAL BARGE LINE COMPANY

121/2% SENIOR SECURED NOTE DUE 2017

	 	 	 
	No. 1

	 	INITIAL NOTES CUSIP:
	 

	 	20162U AA3
	 

	 	INITIAL NOTES ISIN:
	 

	 	US20162UAA34

     Commercial Barge Line Company promises to pay to Cede & Co. or registered assigns, the
principal sum of [•] on July 15, 2017.

     Interest Payment Dates: January 15 and July 15, beginning January 15, 2010

     Record Dates: January 1 and July 1

     Reference is made to further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place.

     Unless the certificate of authentication hereon has been executed by the Trustee referred to
on the reverse hereof by manual signature, this Note shall not be entitled to any benefits under
the Indenture referred to on the reverse hereof or be valid or obligatory for any purpose.

-3-

 

	 	 	 	 	 
	 	COMMERCIAL BARGE LINE COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the 121/2 % Senior Secured Notes

referred to in the within-mentioned Indenture:

Dated: July 7, 2009

THE BANK OF NEW YORK MELLON TRUST

     COMPANY, N.A., not in its individual capacity,

     but solely as Trustee

	 	 	 	 	 
	 	 	 
	By:  	 	 	 
	 	Authorized Signatory 	 	 
	 	 	 	 

-4-

 

	 	 	 	 	 

(Reverse of 121/2 % Senior Secured Note)

121/2% Senior Secured Notes due 2017

COMMERCIAL BARGE LINE COMPANY

     Capitalized terms used herein shall have the meanings assigned to them in the Indenture
referred to below unless otherwise indicated.

     (1) Interest.

     (a) Commercial Barge Line Company, a Delaware corporation (the “Company”), promises to pay
interest on the principal amount of this Note (the “Notes”) at the rate of 121/2% per annum. The
Company will pay interest in United States dollars (except as otherwise provided herein)
semiannually in arrears on January 15 and July 15, commencing on January 15, 2010 or if any such
day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”).
Interest on the Notes shall accrue from the most recent date to which interest has been paid or, if
no interest has been paid, from and including July 7, 2009; provided that if there is no existing
Default or Event of Default in the payment of interest, and if this Note is authenticated between a
record date referred to on the face hereof and the next succeeding Interest Payment Date (but after
July 7, 2009), interest shall accrue from such next succeeding Interest Payment Date, except in the
case of the original issuance of Notes, in which case interest shall accrue from the date of
authentication. It shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Code) on overdue installments of interest (without regard to any applicable grace
period) at the same rate to the extent lawful. Interest shall be computed on the basis of a
360-day year comprised of twelve 30-day months. The interest rate on the Notes will in no event be
higher than the maximum rate permitted by New York law as the same may be modified by United States
law of general application.

     (b) Registration Rights Agreement. The Holder of this Note is entitled to the
benefits of a Registration Rights Agreement dated as of July 7, 2009 among the Issuer, the
Guarantors party thereto and the Initial Purchasers.

     (2) Method of Payment. The Company will pay interest on the Notes (except defaulted
interest) on the applicable Interest Payment Date to the Persons who are registered Holders of
Notes at the close of business on the January 1 and July 1 preceding the Interest Payment Date,
even if such Notes are cancelled after such record date and on or before such Interest Payment
Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The
Notes shall be payable as to principal, premium and interest at the office or agency of the Company
maintained for such purpose within or without the City and State of New York, or, at the option of
the Company, payment of interest may be made by check mailed to the Holders at their addresses set
forth in the register of Holders; provided that payment by wire transfer of immediately available
funds shall be required with respect to principal of, premium, if any, and interest on, all Global
Notes and all other Notes the Holders of which shall have provided written wire transfer
instructions to the Company and the Paying Agent. Such payment shall be in such coin or currency
of the United States of America as at the time of payment is legal tender for payment of public and
private debts.

     Any payments of principal of and interest on this Note prior to Stated Maturity shall be
binding upon all future Holders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted hereon. The amount
due and payable at the maturity of this Note shall be payable only upon presentation and surrender
of this Note at an office of the Trustee or the Trustee’s agent appointed for such purposes.

     (3) Paying Agent and Registrar. Initially, The Bank of New York Mellon Trust Company,
N.A., the Trustee under the Indenture, shall act as Paying Agent and Registrar. The Company may
change any Paying Agent or Registrar without notice to any Holder. American Commercial Lines Inc.
or any of its Affiliates may act in any such capacity.

     (4) Indenture. The Company issued the Notes under an Indenture, dated as of July 7,
2009 (the “Indenture”), among the Company, the Guarantors and the Trustee. The terms of the Notes
include those stated in the

-5-

 

Indenture. To the extent the provisions of this Note are inconsistent
with the provisions of the Indenture, the Indenture shall govern. The Notes are subject to all
such terms, and Holders are referred to the Indenture for a statement of such terms. The Notes
issued on the Issue Date are senior secured Obligations of the Company limited to $200,000,000 in
aggregate principal amount, plus amounts, if any, sufficient to pay premium and interest on
outstanding Notes as set forth in Paragraph 2 hereof. The Indenture permits the issuance of
Additional Notes subject to compliance with certain conditions.

     The payment of principal and interest on the Notes is unconditionally guaranteed on a senior
basis by the Guarantors.

     (5) Optional Redemption.

     (a) The Notes may be redeemed, in whole or in part, at any time prior to July 15, 2013, at the
option of the Company upon not less than 30 nor more than 60 days’ prior notice mailed by
first-class mail to each Holder’s registered address, at a Redemption Price equal to 100% of the
principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid
interest, if any, to, but not including, the applicable redemption date (subject to the right of
holders of record on the relevant record date to receive interest due on the relevant interest
payment date).

     (b) The Notes are subject to redemption, at the option of the Company, in whole or in part, at
any time on or after July 15, 2013 upon not less than 30 nor more than 60 days’ notice mailed by
first-class mail to each Holder’s registered address at the following Redemption Prices (expressed
as percentages of the principal amount to be redeemed) set forth below, plus accrued and unpaid
interest, if any, to, but not including, the redemption date (subject to the right of Holders of
record on the relevant regular record date to receive interest due on an interest payment date), if
redeemed during the 12-month period beginning July 15 of the years indicated:

	 	 	 	 	 
	Year	 	Percentage
	2013
	 	 	106.250	%
	2014
	 	 	103.125	%
	2015 and thereafter
	 	 	100	%

     (c) At any time, or from time to time, prior to July 15, 2012, the Company may, with the net
proceeds of one or more Qualified Equity Offerings, redeem up to 35% of the aggregate principal
amount of the outstanding Notes (including Additional Notes) at a Redemption Price equal to112.50%
of the principal amount of thereof, together with accrued and unpaid interest thereon, if any, to
the date of redemption; provided that at least 65% of the principal amount of the Notes then
outstanding (including Additional Notes) remains outstanding immediately after the occurrence of
any such redemption (excluding Notes held by American Commercial Lines or its Subsidiaries) and
that any such notice of redemption occurs within 90 days following the closing of any such
Qualified Equity Offering.

     (6) Mandatory Redemption. Except as set forth under Sections 4.10, 4.14 and 4.16 of
the Indenture, the Company shall not be required to make mandatory redemption or sinking fund
payments with respect to the Notes.

     (7) Repurchase at Option of Holder.

     (a) Upon the occurrence of certain events, the Company may be required to commence an Offer to
Purchase pursuant to an Asset Sale Offer, Event of Loss Offer or a Change of Control Offer.

     (c) Holders of the Notes that are the subject of an Offer to Purchase will receive notice of
an Offer to Purchase pursuant to an Asset Sale Offer, Event of Loss Offer or a Change of Control
Offer from the Company prior to any related Purchase Date and may elect to have such Notes
purchased by completing the form titled “Option of Holder to Elect Purchase” appearing below.

-6-

 

     (8) Notice of Redemption. Notice of redemption shall be mailed at least 30 days but
not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at
its registered address. Notes in denominations larger than $2,000 may be redeemed in part but only
in a minimum amount of $2,000 principal amount (and integral multiples of $1,000 in excess
thereof), unless all of the Notes held by a Holder are to be redeemed. On and after the redemption
date, interest ceases to accrue on the Notes or portions hereof called for redemption.

     (9) Denominations, Transfer, Exchange. The Notes are in registered form without
coupons in initial denominations of $2,000 and any integral multiple of $1,000 in excess thereof.
The transfer of the Notes may be registered. The Registrar and the Trustee may require a Holder,
among other things, to furnish appropriate endorsements and transfer documents and the Company may
require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The
Company need not exchange or register the transfer of any Note or portion of a Note selected for
redemption, except for the unredeemed portion of any Note being redeemed in part. Also, it need
not exchange or register the transfer of any Notes for a period of 15 days before a selection of
Notes to be redeemed or during the period between a record date and the corresponding Interest
Payment Date.

     (10) Persons Deemed Owners. The registered holder of a Note may be treated as its
owner for all purposes.

     (11) Amendment, Supplement and Waiver. Subject to the following paragraphs, the
Indenture and the Notes may be amended or supplemented with the consent of the Holders of at least
a majority in aggregate principal amount of the then outstanding Notes, including, without
limitation, consents obtained in connection with a purchase of or tender offer or exchange offer
for Notes, and any existing Default or Event of Default or compliance with any provision of the
Indenture or the Notes may be waived with the consent of the Holders of a majority in aggregate
principal amount of the then outstanding Notes, including waivers obtained in connection with a
tender offer or exchange offer for the Notes.

     Without the consent of any Holders, the Company, the Guarantors and the Trustee, at any time
and from time to time, may enter into one or more indentures supplemental to the Indenture, the
Guarantees and the Security Documents for any of the following purposes:

     (1) to evidence the succession of another Person to the Company or any Guarantor and
the assumption by any such successor of the covenants of the Company or such Guarantor in
the Indenture, the Guarantees, the Security Documents and in the Notes;

     (2) to add to the covenants of the Company or the Guarantors for the benefit of the
Holders, or to surrender any right or power herein conferred upon the Company or the
Guarantors;

     (3) to add additional Events of Default;

     (4) to provide for uncertificated Notes in addition to or in place of the certificated
Notes;

     (5) to evidence and provide for the acceptance of appointment under the Indenture and
the Security Documents by a successor Trustee or Collateral Agent;

     (6) to provide for or confirm the issuance of Additional Notes in accordance with the
terms of the Indenture;

     (7) to add to the Collateral securing the Notes, to add a Guarantor or to release a
Guarantor in accordance with the Indenture;

     (8) to cure any ambiguity, defect, omission, mistake or inconsistency;

     (9) to make any other provisions with respect to matters or questions arising under the
Indenture, provided that such actions pursuant to this clause shall not adversely affect the
interests of the Holders

-7-

 

in any material respect, as determined in good faith by the Board of Directors of the American Commercial Lines;

     (10) to conform the text of the Indenture, the Security Documents or the Notes to any
provision of the “Description of the Notes” in the Offering Memorandum to the extent that
the Trustee has received an Officers’ Certificate stating that such text constitutes an
unintended conflict with the description of the corresponding provision in the “Description
of the Notes”;

     (11) to mortgage, pledge, hypothecate or grant any other Lien in favor of the
Collateral Agent for the benefit of the Trustee on behalf of the Holders of the Notes, as
additional security for the payment and performance of all or any portion of the Note
Obligations under the Indenture and the Notes, in any property or assets, including any
which are required to be mortgaged, pledged or hypothecated, or in which a Lien is required
to be granted to or for the benefit of the Trustee or the Collateral Agent pursuant to the
Indenture, any of the Security Documents or otherwise;

     (12) to release Collateral from the Lien of the Indenture and the Security Documents
when permitted or required by the Security Documents, the Intercreditor Agreement or the
Indenture; or

     (13) to secure any Permitted Additional Pari Passu Obligations under the Security
Documents and to appropriately include the same in the Intercreditor Agreement.

     Subject to the preceding paragraph, with the consent of the Holders of not less than a
majority in aggregate principal amount of the outstanding Notes, the Company, the Guarantors and
the Trustee may enter into an indenture or indentures supplemental to the Indenture or amend the
Security Documents and the Intercreditor Agreement (together with the other consents required
thereby) for the purpose of adding any provisions to or changing in any manner or eliminating any
of the provisions of the Indenture or the Notes or of modifying in any manner the rights of the
Holders under the Indenture, including the definitions therein; provided, however, that no such
supplemental indenture or amendment shall, without the consent of the Holder of each outstanding
Note affected thereby:

     (1) change the Stated Maturity of any Note or of any installment of interest on any
Note, or reduce the amount payable in respect of the principal thereof or the rate of
interest thereon or any premium payable thereon, or reduce the amount that would be due and
payable on acceleration of the maturity thereof, or change the place of payment where, or
the coin or currency in which, any Note or any premium or interest thereon is payable, or
impair the right to institute suit for the enforcement of any such payment on or after the
Stated Maturity thereof, or change the date on which any Notes may be subject to redemption
or reduce the Redemption Price therefor,

     (2) reduce the percentage in aggregate principal amount of the outstanding Notes, the
consent of whose Holders is required for any such supplemental indenture or amendment, or
the consent of whose Holders is required for any waiver (of compliance with certain
provisions of the Indenture or certain defaults thereunder and their consequences) provided
for in the Indenture,

     (3) modify the obligations of the Company to make Offers to Purchase upon a Change of
Control or from the Excess Proceeds of Asset Sales or Excess Loss Proceeds from an Event of
Loss if such modification was done after the occurrence of such Change of Control, Asset
Sale or Event of Loss, as applicable,

     (4) subordinate, in right of payment, the Notes to any other Debt of the Company,

     (5) modify any of the provisions of this paragraph or provisions relating to waiver of
defaults or certain covenants, except to increase any such percentage required for such
actions or to provide that certain other provisions of the Indenture cannot be modified or
waived without the consent of the Holder of each outstanding Note affected thereby, or

-8-

 

     (6) release any Guarantees required to be maintained under the Indenture (other than in
accordance with the terms of the Indenture).

     In addition, any amendment to, or waiver of, the provisions of the Indenture or any Security
Document that has the effect of releasing all or substantially all of the Collateral from the Liens
securing the Notes or otherwise modifying the Intercreditor Agreement in any manner adverse in any
material respect to the Holders of the Notes will require the consent of the Holders of at least 66
2/3% in aggregate principal amount of the Notes then outstanding.

     The Holders of not less than a majority in aggregate principal amount of the outstanding Notes
may on behalf of the Holders of all the Notes waive any past default under the Indenture and its
consequences, except a default:

     (1) in any payment in respect of the principal of (or premium, if any) or interest on
any Notes (including any Note which is required to have been purchased pursuant to an Offer
to Purchase which has been made by the Issuer), or

     (2) in respect of a covenant or provision of the Indenture which under the Indenture
cannot be modified or amended without the consent of the Holder of each outstanding Note
affected.

     (12) Defaults and Remedies. Events of Default include:

     (1) default in the payment in respect of the principal of (or premium, if any, on) any
Note at its maturity (whether at Stated Maturity or upon repurchase, acceleration, optional
redemption or otherwise);

     (2) default in the payment of any interest upon any Note when it becomes due and
payable, and continuance of such default for a period of 30 days;

     (3) failure to perform or comply with the provisions described under Section 5.1 of the
Indenture;

     (4) except as permitted by the Indenture, any Note Guarantee of any Significant
Subsidiary (or any group of Restricted Subsidiaries that, taken together, would constitute a
Significant Subsidiary) shall for any reason cease to be, or it shall be asserted by any
Guarantor or the Company not to be, in full force and effect and enforceable in accordance
with its terms (except as specifically provided in the Indenture);

     (5) default in the performance, or breach, of (i) any covenant or agreement of the
Company or any Guarantor in the Indenture (other than a (x) covenant or agreement a default
in whose performance or whose breach is specifically dealt with in clauses (1), (2) (3) or
(4) above or (y) a covenant or agreement contained in Section 4.3 of the Indenture), and
continuance of such default or breach for a period of 60 days after written notice thereof
has been given to the Company by the Trustee or to the Company and the Trustee by the
Holders of at least 25% in aggregate principal amount of the outstanding Notes or (ii) any
covenant or agreement contained in Section 4.3 of the Indenture and continuance of such
default or breach for a period of 120 days after written notice thereof has been given to
the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25%
in aggregate principal amount of the outstanding Notes;

     (6) a default or defaults under any bonds, debentures, notes or other evidences of Debt
(other than the Notes) by American Commercial Lines or any Restricted Subsidiary of American
Commercial Lines (including the Company) having, individually or in the aggregate, a
principal or similar amount outstanding of at least $35.0 million, whether such Debt now
exists or shall hereafter be created, which default or defaults shall have resulted in the
acceleration of the maturity of such Debt prior to its express maturity

-9-

 

or shall constitute a failure to pay at least $35.0 million of such Debt when due and payable after the expiration of any applicable grace period with respect thereto;

     (7) the entry against American Commercial Lines or any Restricted Subsidiary of
American Commercial Lines that is a Significant Subsidiary (or any group of Restricted
Subsidiaries that, taken together, would constitute a Significant Subsidiary) of a final
nonappealable judgment or final nonappealable judgments for the payment of money in an
aggregate amount in excess of $35.0 million (other than any judgments covered by indemnities
or insurance policies as to which liability coverage has not been denied by the insurance
company or indemnifying party), by a court or courts of competent jurisdiction, which
judgments remain undischarged, unwaived, unstayed, unbonded or unsatisfied for a period of 90
consecutive days;

     (8) (i) American Commercial Lines, any Significant Subsidiary or any group of
Restricted Subsidiaries that, taken as a whole, would constitute a Significant Subsidiary,
pursuant to or within the meaning of any Bankruptcy Code:

     (a) commences a voluntary case,

     (b) consents to the entry of an order for relief against it in an involuntary
case,

     (c) consents to the appointment of a Custodian of it or for all or
substantially all of its property,

     (d) makes a general assignment for the benefit of its creditors, or

     (e) admits, in writing, its inability generally to pay its debts as they become
due; or (ii) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Code that:

     (a) is for relief against American Commercial Lines, any Significant
Subsidiary or any group of Restricted Subsidiaries that, taken as a whole,
would constitute a Significant Subsidiary, in an involuntary case;

     (b) appoints a Custodian of American Commercial Lines, any Significant
Subsidiary or any group of Restricted Subsidiaries that, taken as a whole,
would constitute a Significant Subsidiary or for all or substantially all of
the property of American Commercial Lines or any of its Restricted
Subsidiaries (including the Company);

     (c) orders the liquidation of American Commercial Lines, the Company or
any Restricted Subsidiary that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant
Subsidiary;

and the order or decree remains unstayed and in effect for 60 consecutive days; or

     (9) unless all of the Collateral has been released from the Note Liens in accordance
with the provisions of the Security Documents, default by American Commercial Lines or any
of its Restricted Subsidiaries or Guarantors in the performance of the Security Documents
which adversely affects in any material respect the enforceability, validity, perfection or
priority of the Note Liens on a material portion of the Collateral, the repudiation or
disaffirmation by American Commercial Lines or any of its Restricted Subsidiaries or
Guarantors of its material obligations under the Security Documents or the determination in
a judicial proceeding that the Security Documents are unenforceable or invalid against
American Commercial Lines or any of its Restricted Subsidiaries or Guarantors party thereto
for any reason with respect to a material portion of the Collateral (which default,
repudiation, disaffirmation or determination is not rescinded, stayed, or waived by the
Persons having such authority pursuant to the Security Documents) or otherwise cured within
60 days after the Company receives written notice thereof specifying such occurrence

-10-

 

from the Trustee or the Holders of at least 66 2/3% of the outstanding principal amount of the Note Obligations and demanding that such default be remedied.

     If an Event of Default (other than an Event of Default specified in clause (8) above with
respect to the Company) occurs and is continuing, then and in every such case the Trustee or the
Holders of not less than 25% in aggregate principal amount of the outstanding Notes may declare the
principal of the Notes and any accrued interest on the Notes to be due and payable immediately by a
notice in writing to the Company (and to the Trustee if given by Holders).

     In the event of a declaration of acceleration of the Notes solely because an Event of Default
described in clause (6) above has occurred and is continuing, the declaration of acceleration of
the Notes shall be automatically rescinded and annulled if the event of default or payment default
triggering such Event of Default pursuant to clause (6) shall be remedied or cured by American
Commercial Lines or a Restricted Subsidiary of American Commercial Lines or waived by the holders
of the relevant Debt within 20 Business Days after the declaration of acceleration with respect
thereto and if the rescission and annulment of the acceleration of the Notes would not conflict
with any judgment or decree of a court of competent jurisdiction obtained by the Trustee for the
payment of amounts due on the Notes.

     If an Event of Default specified in clause (8) above occurs with respect to the Company, the
principal of and any accrued interest on the Notes then outstanding shall ipso facto become
immediately due and payable without any declaration or other act on the part of the Trustee or any
Holder.

     (13) Trustee Dealings with the Company. The Trustee, in its individual or any other
capacity, may make loans to, accept deposits from, and perform services for the Company, the
Guarantors or their respective Affiliates, and may otherwise deal with the Company, the Guarantors
or their respective Affiliates, as if it were not the Trustee.

     (14) No Recourse Against Others. No director, officer, employee, stockholder, general
or limited partner or incorporator, past, present or future, of the Company, the Guarantors or any
of their respective Subsidiaries, as such or in such capacity, shall have any personal liability
for any obligations of the Company under the Notes, any Guarantee, the Indenture or the Security
Documents by reason of his, her or its status as such director, officer, employee, stockholder,
general or limited partner or incorporator.

     (15) Authentication. This Note shall not be valid until authenticated by the manual
signature of the Trustee or an authenticating agent.

     (16) Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (=
joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and
U/G/M/A (= Uniform Gifts to Minors Act).

     (17) CUSIP, ISIN Numbers. Pursuant to a recommendation promulgated by the Committee
on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed
on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption
as a convenience to the Holders. No representation is made as to the accuracy of such numbers
either as printed on the Notes or as contained in any notice of redemption and reliance may be
placed only on the other identification numbers placed thereon.

     The Company shall furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to:

American Commercial Lines Inc.

1701 East Market Street

Jeffersonville, Indiana 47130

Facsimile: (812) 288-0294

Attention: General Counsel

-11-

 

ASSIGNMENT FORM

     To assign this Note, fill in the form below: (I) or (we) assign and transfer this Note to

 

(Insert assignee’s soc. sec. or tax I.D. no.)
 

 

 

(Print or type assignee’s name, address and zip code)

and irrevocably appoint           
           
            
            
            
            
            
            
            
            
            
            
            
            
   

to transfer this Note on the books of the Company. The agent may substitute another to act for him.

Date:              
         

	 	 	 	 	 
	 	 	 
	 	Your Signature:  	
 	 
	 	 	(Sign exactly as your name appears on the face of this Note) 	 
	 

	 	 	 
	     Signature guarantee:

	 	 
	 

	 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

-12-

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Note purchased by the Company pursuant to Sections 4.10
(Asset Sale), 4.14 (Change of Control) or 4.16 (Event of Loss) of the Indenture, check the box
below:

o Section 4.10   o Section 4.14   o Section 4.16

     If you want to elect to have only part of the Note purchased by the Company pursuant to
Section 4.10, 4.14 or 4.16 of the Indenture, state the amount you elect to have purchased: $

	 	 	 	 	 
	Date: _________ 	Your Signature:  	
 	 
	 	 	(Sign exactly as your name appears on the Note) 	 

     Tax Identification No.:

	 	 	 
	     Signature guarantee:

	 	 
	 

	 	(Signature must be guaranteed by a participant in a recognized signature guarantee medallion program)

-13-

 

CERTIFICATE TO BE DELIVERED UPON

EXCHANGE OR REGISTRATION

OF TRANSFER RESTRICTED NOTES

American Commercial Lines Inc.

1701 East Market Street

Jeffersonville, Indiana 47130

Facsimile: (812) 288-0294

Attention: General Counsel

The Bank of New York Mellon Trust Company, N.A., as Trustee

2 North LaSalle Street Suite 1020

Chicago, Illinois 60602

Facsimile: (312) 827-8542

Attention: Corporate Trust

	Re:	 	Commercial Barge Line Company

121/2% Senior Secured Note due 2017

CUSIP #              
           
           
           

Reference is hereby made to that certain Indenture dated July 7, 2009 (the “Indenture”) among
Commercial Barge Line Company (the “Company”), the Guarantors party thereto and The Bank of New
York Mellon Trust Company, N.A., as trustee (the “Trustee”). Capitalized terms used but not
defined herein shall have the meanings set forth in the Indenture.

This certificate relates to $                     principal amount of Notes held in (check applicable space)
           book-entry or            definitive form by the undersigned.

The undersigned                                          (transferor) (check one box below):

	o	 	hereby requests the Registrar to deliver in exchange for its beneficial interest in the Global
Note held by the Depositary a Note or Notes in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global
Note (or the portion thereof indicated above), in accordance with Section 2.6 of the Indenture; or
	 
	o	 	hereby requests the Trustee to exchange or register the transfer of a Note or Notes to                     
(transferee).

In connection with any transfer of any of the Notes evidenced by this certificate occurring prior
to the expiration of the periods referred to in Rule 144(b) under the Securities Act of 1933, as
amended, the undersigned confirms that such Notes are being transferred in accordance with its
terms:

CHECK ONE BOX BELOW:

(1) o to the Company or any of its subsidiaries; or

(2) o inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under
the Securities Act of 1933, as amended) that purchases for its own account or for the account of a
qualified institutional buyer to whom notice is given that such transfer is being made in reliance
on Rule 144A under the Securities Act of 1933, as amended, in each case pursuant to and in
compliance with Rule 144A thereunder; or

(3) o outside the United States in an offshore transaction within the meaning of Regulation S under
the Securities Act of 1933, as amended, in compliance with Rule 904 thereunder.

-14-

 

Unless one of the boxes is checked, the Registrar will refuse to register any of the Notes
evidenced by this certificate in the name of any person other than the registered holder thereof.

	 	 	 	 	 
	 	 	
 	 
	 	 	Signature

 	 
	 	 	 
	 	Signature guarantee:  	 	 
	 	 	(Signature must be guaranteed by a participant in a recognized signature
guarantee medallion program) 	 
	 

TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities
Act of 1933, as amended (“Rule 144A”), and is aware that the sale to it is being made in reliance
on Rule 144A and acknowledges that it has received such information regarding the Company as the
undersigned has requested pursuant to Rule 144A or has determined not to request such information
and that it is aware that the transferor is relying upon the undersigned’s foregoing
representations in order to claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 
	 	[Name of Transferee]

 	 
	Dated:            
                 
           	
 	 

NOTICE: To be executed by an executive officer

-15-

 

SCHEDULE OF EXCHANGES OF 121/2% SENIOR SECURED NOTES

     The following exchanges of a part of this Global Note for other 121/2% Senior Secured Notes have
been made:

	 	 	 	 	 	 	 	 	 
	Date of Exchange
	 	Amount of Decrease

in Principal Amount

of this Global Note
	 	Amount of Increase

in Principal Amount

of this Global Note
	 	Principal Amount of

this Global Note

Following Such

Decrease (or

Increase)
	 	Signature of

Authorized Officer

of Trustee or 121/2%

Senior Secured Note

Custodian
	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 

-16-

 

FORM OF NOTATIONAL GUARANTEE

     The Guarantor listed below (hereinafter referred to as the “Guarantor,” which term includes
any successors or assigns under that certain Indenture, dated as of July 7, 2009, by and among
Commercial Barge Line Company (the “Company”), the Guarantors party thereto and the Trustee (as
amended and supplemented from time to time, the “Indenture”) and any additional Guarantors) has
guaranteed the Notes and the obligations of the Company under the Indenture, which include (i) the
due and punctual payment of the principal of, premium, if any, and interest on the Notes of the
Company, whether at stated maturity, by acceleration or otherwise, the due and punctual payment of
interest on the overdue principal and premium, if any, and (to the extent permitted by law)
interest on any interest, if any, on the Notes, and the due and punctual performance of all other
obligations of the Company to the Holders or the Trustee all in accordance with the terms set forth
in Article XII of the Indenture, (ii) in case of any extension of time of payment or
renewal of any Notes or any such other obligations, that the same will be promptly paid in full
when due or performed in accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise, and (iii) the payment of any and all costs and expenses
(including reasonable attorneys’ fees) incurred by the Trustee or any Holder in enforcing any
rights under this Note Guarantee or the Indenture.

     The obligations of each Guarantor to the Holders and to the Trustee pursuant to this Note
Guarantee and the Indenture are expressly set forth in Article XII of the Indenture and
reference is hereby made to such Indenture for the precise terms of this Note Guarantee.

     No stockholder, employee, officer, director or incorporator, as such, past, present or future
of each Guarantor shall have any liability under this Note Guarantee by reason of his or its status
as such stockholder, employee, officer, director or incorporator.

     This is a continuing Note Guarantee and shall remain in full force and effect and shall be
binding upon each Guarantor and its successors and assigns until full and final payment of all of
the Company’s obligations under the Notes and Indenture or until released in accordance with the
Indenture and shall inure to the benefit of the successors and assigns of the Trustee and the
Holders, and, in the event of any transfer or assignment of rights by any Holder or the Trustee,
the rights and privileges herein conferred upon that party shall automatically extend to and be
vested in such transferee or assignee, all subject to the terms and conditions hereof. This is a
Note Guarantee of payment and not of collectability.

     This Note Guarantee shall not be valid or obligatory for any purpose until the certificate of
authentication on the Note upon which this Note Guarantee is noted shall have been executed by the
Trustee under the Indenture by the manual signature of one of its authorized officers. The
Obligations of each Guarantor under its Note Guarantee shall be limited to the extent necessary to
insure that it does not constitute a fraudulent conveyance under applicable law.

 

 

THE TERMS OF ARTICLE XII OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE.

     Capitalized terms used herein have the same meanings given in the Indenture unless otherwise
indicated.

Dated as of                     

	 	 	 	 	 
	 	[NAME OF GUARANTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

-2-

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