Document:

exv10w7

Exhibit 10.7

Execution Version

Employment Agreement

     This Employment Agreement, (the “Agreement”), is entered into by and between CoreSite,
LLC, a Delaware limited liability company (“CoreSite” and together with any of its
successors or assigns, the “Company”), and Thomas Ray (the “Executive”)
(collectively referred to herein as the “Parties”) on August 1, 2010 (the “Effective
Date”) and shall become effective on the Effective Date.

RECITALS

	A.	 	It is the desire of the Company to assure itself of the services of Executive by entering
into this Agreement.
	 
	B.	 	Executive and the Company mutually desire that Executive provide services to the Company on
the terms herein provided.

AGREEMENT

     NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and
agreements set forth below the Parties hereto agree as follows:

1. Employment.

     (a) General. The Company shall employ Executive and Executive shall enter
the employ of the Company, for the period and in the position set forth in this Section 1,
and upon the other terms and conditions herein provided.

     (b) Employment Term. The term of employment under this Agreement (the
“Term”) shall be for the period beginning on the Effective Date and ending on the first
anniversary thereof, subject to earlier termination as provided in Section 3. The Term
shall automatically renew for additional one (1) year periods unless no later than ninety (90) days
prior to the end of the otherwise applicable Term either party gives written notice of non-renewal
(“Notice of Non-Renewal”) to the other, in which case Executive’s employment will terminate
at the end of the then-applicable Term or any other date set by the Company in accordance with
Section 3 and subject to earlier termination as provided in Section 3.

     (c) Position and Duties. Executive shall serve as the President and Chief
Executive Officer of CoreSite and its successor, including, if applicable, the REIT (as defined
below) and an operating partnership of which the REIT is a general partner (collectively, the
“Company Group”), with such customary responsibilities, duties and authority as may from
time to time be assigned to Executive by the board of directors, or other similar governing body,
of CoreSite or any successor of CoreSite, including any successor company with respect to which an
initial public offering of equity securities (an “IPO”) may be effected (the “REIT”) (such
board of directors or other similar governing body is referred to herein as the “Board”).
Executive shall report to the Board. Executive shall devote substantially all of Executive’s
working time and efforts to the business and affairs of the Company Group. Executive agrees to
observe and

 

comply with the rules and policies of the Company as adopted by the Company from time to time.

2. Compensation and Related Matters.

     (a) Base Salary. During the Term, but prior to an expected IPO, Executive
shall receive a base salary at a rate of $250,000 per annum (the “Base Salary”), which
shall be paid in accordance with the customary payroll practices of the Company. Following the
consummation of the IPO, the Base Salary shall be $425,000 per annum. Such Base Salary shall be
reviewed (and may be adjusted upward) from time to time by the Board or an authorized committee of
the Board, in its sole discretion.

     (b) Bonus.

          (i) During the Term, Executive shall be eligible to receive an annual performance-based bonus
upon the achievement of certain performance goals determined by the Board (the “Performance
Bonus”). Except with respect to calendar year 2010, as provided in subsection (ii) below,
Executive’s annual target bonus opportunity shall initially be $375,000, and may be increased in
subsequent years in the sole discretion of the Board. The actual amount of Executive’s annual
Performance Bonus may, in the Board’s discretion, be higher or lower than the target amount and
shall be based upon the Company’s level of achievement of such performance goals, as determined by
the Board in its discretion, and in accordance with the Company’s annual bonus plan applicable to
Executive, as in effect from time to time. Any Performance Bonus payable pursuant to this Section
2(b) shall be paid to Executive in the calendar year following the calendar year to which the
Performance Bonus relates, provided that for calendar year 2010, any Performance Bonus shall be
paid prior to March 15, 2011.

          (ii) Within 5 days following the Effective Date, the Company shall pay to Executive a cash
bonus in an amount equal to $220,000 (the “Signing Bonus”). Executive agrees and acknowledges that
his target bonus opportunity for calendar year 2010 shall be reduced by the amount of the Signing
Bonus, such that his target Performance Bonus opportunity for calendar year 2010 shall be $155,000.

     (c) Equity Incentive Plans. Executive shall be entitled to receive an initial equity
award, the details of which are set forth more fully in Exhibit A attached hereto (the
“Initial Equity Award”). In addition, during the Term, Executive shall be eligible to
participate in any equity incentive plan or plans that may be adopted by CoreSite or the REIT from
time to time, and shall be eligible to receive additional awards under such plan, as determined by
the Board or an authorized committee of the Board in its sole discretion.

     (d) Benefits. During the Term, Executive shall be eligible to participate
in group employee benefit plans, programs and arrangements of the Company, as may be amended from
time to time, which are generally applicable to similarly-situated executives of the Company and
its subsidiaries. This currently includes, but is not limited to, Company-paid on-site parking for
all employees; alternately, employees who commute to work via public transportation are eligible
for reimbursement up to $180 per month. For purposes of Employee’s eligibility,

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vesting and future benefit accruals under such group employee benefit plans, programs and
arrangements of the Company, Employee shall be deemed to have been an employee of the Company as of
September 3, 1999 (the “Effective Employment Date”).

     (e) Vacation. During the Term, Executive shall be entitled to paid vacation
in accordance with the Company’s vacation policy, as it may be amended from time to time; provided
that for purposes of determining the future vacation accruals to which Executive is entitled under
the Company’s vacation policy, Executive’s employment with the Company shall be deemed to be the
Effective Employment Date. Any vacation shall be taken at the reasonable and mutual convenience of
the Company and Executive.

     (f) Expenses. During the Term, the Company shall reimburse Executive for
all reasonable travel and other business expenses incurred by Executive in the performance of
Executive’s duties to the Company in accordance with the Company’s expense reimbursement policy,
interpreted consistent with Section 11(l)(v) of this Agreement.

     (g) Key Person Insurance. At any time during the Term, the Company shall
have the right to insure the life of Executive for the Company’s sole benefit. The Company shall
have the right to determine the amount of insurance and the type of policy. Executive shall
reasonably cooperate with the Company in obtaining such insurance by submitting to physical
examinations, by supplying all information reasonably required by any insurance carrier, and by
executing all necessary documents reasonably required by any insurance carrier. Executive shall
incur no financial obligation by executing any required document, and shall have no interest in any
such policy. The results of any physical examination of Executive performed pursuant to the terms
hereof shall be made available to Executive and shall only be disclosed to the Board with the prior
written consent of Executive. Except for the purposes of determining whether a Disability exists,
the Company shall not permit the results of any physical examination of Executive performed
pursuant to the terms hereof to have any affect on any employment decisions pertaining to
Executive, and the Company hereby agrees and acknowledges that such results shall not have any such
effect.

3. Termination.

     Executive’s employment hereunder may be terminated by the Company or Executive, as applicable,
without any breach of this Agreement under the following circumstances:

     (a) Circumstances.

     (i) Death. Executive’s employment hereunder shall terminate upon Executive’s
death.

     (ii) Disability. If Executive has incurred a Disability, as defined below,
the Company may terminate Executive’s employment.

     (iii) Termination for Cause. The Company may terminate Executive’s
employment for Cause, as defined below.

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     (iv) Termination without Cause. The Company may terminate Executive’s
employment without Cause.

     (v) Resignation from the Company Without Good Reason. Executive may resign
Executive’s employment with the Company without Good Reason, as defined below.

     (vi) Resignation from the Company With Good Reason. Executive may resign
Executive’s employment with the Company with Good Reason within 90 days following the
occurrence of a Good Reason event.

     (vii) Non-extension of Term by the Company. The Company may give notice of
non-extension to Executive pursuant to Section 1.

     (viii) Non-extension of Term by Executive. Executive may give notice of
non-extension to the Company pursuant to Section 1.

     (b) Notice of Termination. Any termination of Executive’s employment by the
Company or by Executive under this Section 3 (other than termination pursuant to paragraph (a)(i))
shall be communicated by a written notice to the other party hereto (i) indicating the specific
termination provision in this Agreement relied upon, (ii) setting forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of Executive’s employment under
the provision so indicated, and (iii) specifying a Date of Termination which, if submitted by
Executive, shall be at least sixty (60) days following the date of such notice (a “Notice of
Termination”); provided, however, that in the event that Executive delivers a Notice of
Termination to the Company, the Company may, in its sole discretion, change the Date of Termination
to any date that occurs following the date of Company’s receipt of such Notice of Termination and
is prior to the date specified in such Notice of Termination. A Notice of Termination submitted by
the Company may provide for a Date of Termination on the date Executive receives the Notice of
Termination, or any date thereafter elected by the Company in its sole discretion. The failure by
the Company to set forth in the Notice of Termination any fact or circumstance which contributes to
a showing of Cause shall not waive any right of the Company hereunder or preclude the Company from
asserting such fact or circumstance in enforcing the Company’s rights hereunder. The failure by
the Executive to set forth in the Notice of Termination any fact or circumstance which contributes
to a showing of Good Reason shall not waive any right of Executive hereunder or preclude Executive
from asserting such fact or circumstance in enforcing Executive’s rights hereunder.

     (c) Company Obligations upon Termination. Upon termination of Executive’s
employment pursuant to any of the circumstances listed in Section 3, Executive (or
Executive’s estate) shall be entitled to receive the sum of: (i) the portion of Executive’s Base
Salary earned through the Date of Termination, but not yet paid to Executive; (ii) the entire
amount of any Performance Bonus that relates to the prior calendar year, but has not yet been paid
to Executive; (iii) any expenses owed to Executive pursuant to Section 2(f); (iv) any
amount accrued and arising from Executive’s participation in, or benefits accrued under any
employee benefit plans, equity incentive plans, programs or arrangements, which amounts shall be
payable in accordance

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with the terms and conditions of such employee benefit plans, equity incentive plans, programs
or arrangements, including but not limited to accrued but unused vacation (collectively, the
“Company Arrangements”); and (v) any equity interests or awards that vested on or before
the Date of Termination. Except as otherwise expressly required by law (e.g., COBRA) or as
specifically provided herein, all of Executive’s rights to salary, severance, benefits, bonuses and
other amounts hereunder (if any) shall cease upon the termination of Executive’s employment
hereunder. In the event that Executive’s employment is terminated by the Company for any reason,
Executive’s sole and exclusive remedy under this Agreement shall be to receive the severance
payments and benefits described in this Section 3(c) and/or Section 4, as applicable.

     (d) Deemed Resignation. Upon termination of Executive’s employment for any
reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then
held with the Company or any of its affiliates. The Company hereby agrees that, upon termination
of Executive’s employment for any reason, it shall not terminate, amend, waive or otherwise modify
any rights Executive has with respect to indemnification, reimbursement, and subrogation pursuant
to the Company’s organizational documents, the Company’s directors’ and officers’ insurance policy,
or otherwise, without the Executive’s prior written consent, unless the Company provides equivalent
or more favorable rights under substantially similar arrangements or agreements.

4. Severance Payments.

     (a) Termination Upon Death or Disability. If Executive’s employment shall
terminate as a result of Executive’s death pursuant to Section 3(a)(i) or Disability pursuant to
Section 3(a)(ii), Executive shall receive, in addition to the payments provided for in Section
3(c), the following:

     (i) An amount equal to Executive’s target Performance Bonus amount for the
calendar year in which such termination occurs, multiplied by a fraction, the numerator of
which is the number of months in such year during which Executive was employed prior to
termination and the denominator of which is twelve (12), which amount shall be paid on the
First Pay Date (defined below);

     (ii) Accelerated vesting, effective as of immediately prior to Executive’s
Separation from Service (defined below), of all outstanding equity awards Executive holds
that would have vested solely based on the passage of time (e.g., equity awards with vesting
based on performance will not vest) through the end of the twelve (12) month anniversary
from the date of death or the Date of Termination as a result of a determination that
Executive has a Disability pursuant to Section 3(a)(ii); and

     (iii) any equity awards held by Executive as of the Date of Termination shall, subject
to earlier termination upon a Change of Control or other extraordinary corporate transaction
in accordance with the terms of the applicable equity plan, remain outstanding until at
least one (1) year following the Date of Termination (subject to a maximum term of ten years
from the date of grant), and shall otherwise remain subject to all of the terms and
conditions applicable to such equity awards.

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     (b) Termination for Cause, Resignation from the Company Without Good Reason, or
Non-extension of Term by Executive. If Executive’s employment shall terminate pursuant to
Section 3(a)(iii) for Cause, pursuant to Section 3(a)(v) for Executive’s resignation from the
Company without Good Reason, or pursuant to Section 3(a)(viii) due to non-extension of the Term by
Executive, Executive shall not be entitled to any severance payments or benefits, except as
provided in Section 3(c).

     (c) Termination without Cause, Resignation from the Company With Good Reason or
Non-extension of the Term by the Company. If Executive’s employment shall terminate without
Cause pursuant to Section 3(a)(iv), with Good Reason pursuant to Section 3(a)(vi)
or due to non-extension of the Term by the Company pursuant to Section 3(a)(vii), then,
subject to Executive signing on or before the 21st day following Executive’s Separation
from Service (as defined below), and not revoking, a release of claims in the form attached as
Exhibit B to this Agreement (the “Release”), and Executive’s continued compliance
with Sections 5 and 6 and the interpretation rules set forth in Section 11(l), Executive
shall receive, in addition to payments and benefits set forth in Section 3(c), the following:

     (i) Continued payment of Executive’s Base Salary in effect on the Date of
Termination (unless prior to such Date of Termination Executive’s Base Salary was reduced by
more than 10% of the Base Salary in effect prior to such reduction, in which case Base
Salary shall be determined based upon the rate in effect prior to such reduction less 10% if
such reduction is implemented in connection with a contemporaneous reduction in base
salaries affecting other senior executive officers of the Company), payable in the form of
salary continuation in regular installments over the eighteen (18) month period following
the date of Executive’s Separation from Service (the “Severance Period”) in
accordance with the Company’s normal payroll practices;

     (ii) if Executive elects to receive continued healthcare coverage pursuant to
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”),
the Company shall directly pay, or reimburse (within 10 days of the end of each month for
which reimbursement is claimed) Executive for, the COBRA premiums for Executive and
Executive’s covered dependents during the period commencing on Executive’s Separation from
Service and ending upon the earliest of (A) the last day of the Severance Period, (B) the
date that Executive and/or Executive’s covered dependents become no longer eligible for
COBRA or (C) the date Executive and Executive’s covered dependents become eligible to
receive healthcare coverage from Executive’s subsequent employer (such healthcare
continuation premiums shall be provided in the form of taxable reimbursements to Executive
if necessary to avoid inclusion in taxable income by Executive of the value of in-kind
benefits, in which event Company shall pay to Executive, with each monthly reimbursement, an
additional amount of cash equal to A/(1-R)-A, where A is the amount of the reimbursement for
the month, and R is the sum of the maximum federal individual income tax rate then
applicable to ordinary income and the maximum individual Colorado income tax rate then
applicable to ordinary income);

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     (iii) a lump sum payment in cash on the First Pay Date of an amount
determined in the sole discretion of the Board, up to Executive’s target Performance Bonus
amount for the calendar year in which such termination occurs, multiplied by a fraction, the
numerator of which is the number of months in such year during which Executive was employed
prior to termination and the denominator of which is twelve (12);

     (iv) accelerated vesting, effective as of immediately prior to Executive’s
Separation from Service, of all outstanding equity awards that would have vested solely
based on the passage of time (e.g., equity awards with vesting based on performance will not
vest) if Executive had remained employed with the Company or any of its affiliates through
the end of the Severance Period; and

     (v) any equity awards held by Executive as of the Date of Termination shall,
subject to earlier termination upon a Change of Control or other extraordinary corporate
transaction in accordance with the terms of the applicable equity plan, remain outstanding
until at least one (1) year following the Date of Termination (subject to a maximum term of
ten years from the date of grant), and shall otherwise remain subject to all of the terms
and conditions applicable to such equity awards.

     (d) Termination following Change in Control. If Executive’s employment
shall terminate without Cause pursuant to Section 3(a)(iv), with Good Reason pursuant to
Section 3(a)(vi) or pursuant to Section 3(a)(vii) due to non-extension of the Term
by the Company, in each case within sixty (60) days prior to a Change in Control or twelve months
following a Change in Control, then, subject to Executive signing on or before the 21st
day following Executive’s Separation from Service, and not revoking, a Release, and Executive’s
continued compliance with Sections 5 and 6, Executive shall receive, without duplication of
any of the payments or benefits set forth in Section 4(c):

     (i) the payments and benefits set forth in Section 3(c);

     (ii) a cash payment equal to one and one-half (1.5) times Executive’s annual
Base Salary in effect on the Date of Termination (unless prior to such Date of Termination
Executive’s Base Salary was reduced by more than 10% of the Base Salary in effect prior to
such reduction, in which case Base Salary shall be determined based upon the rate in effect
prior to such reduction less 10% if such reduction is implemented in connection with a
contemporaneous reduction in base salaries affecting other senior executive officers of the
Company), paid in a lump sum on the First Pay Date;

     (iii) a cash payment in an amount equal to Executive’s target Performance
Bonus for the calendar year in which the termination occurs, paid on the First Pay Date;

     (iv) a cash payment in an amount equal to Executive’s target Performance Bonus amount
for the calendar year in which such termination occurs, multiplied by a fraction, the
numerator of which is the number of months in such year during which

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Executive was employed prior to termination and the denominator of which is twelve
(12), paid on the First Pay Date;

     (v) the payments and benefits set forth in Section 4(c)(ii);

     (vi) instead of the accelerated vesting specified in Section 4(c)(iv),
Executive shall receive accelerated vesting, effective as of immediately prior to
Executive’s Separation from Service, of 100% of all outstanding equity awards Executive
holds that are eligible to vest (including any equity awards that would fully vest upon
achievement of any time-based or performance-based goals or targets); and

     (vii) any equity awards held by the Executive as of the Date of Termination
shall, subject to earlier termination upon a Change in Control or other extraordinary
corporate transaction in accordance with the terms of the applicable equity plan, remain
outstanding until at least one (1) year following the Date of Termination (subject to a
maximum term of ten years from the date of grant), and shall otherwise remain subject to all
of the terms and conditions applicable to such equity awards.

     (e) Survival. Notwithstanding anything to the contrary in this Agreement,
the provisions of Sections 3 through 9 and Section 11 will survive
the termination of Executive’s employment and the expiration or termination of the Term.

5. Competition.

     (a) Executive shall not, at any time during the Restriction Period, directly or
indirectly engage in, have any equity interest in, enter into a discussion of which the primary
purpose and intention of the Executive is to interview for a potential employment or consulting
relationship with, or manage or operate any person, firm, corporation, partnership or business
(whether as director, officer, employee, agent, representative, partner, security holder,
consultant or otherwise) that competes with the Business (as defined below) of the Company anywhere
in the United States. Notwithstanding anything to the contrary, nothing shall prohibit Executive
from (i) retaining any ownership interest in the Company, (ii) being a passive owner of not more
than 2% of the outstanding equity interest in any entity that is publicly traded, so long as
Executive has no active participation in the business of such entity, (iii) after December 31,
2011, owning a passive interest in any entity or engaging in any activity that competes with the
Business outside of the United States, or (iv) after December 31, 2011, engaging in any activity
that competes with the Business of the Company anywhere in the United States so long as such
activity is with respect to a firm, corporation, partnership or business that is privately held
(i.e., not a reporting company under the Exchange Act (as defined below)), and such activity is
conducted with respect to real estate that is located solely in geographic markets that are outside
of a 60-mile radius from where the Company has or has executed, as of the Date of Termination, a
binding written agreement to construct, acquire or operate real estate that is, or on which the
Company intends to construct, an operating data center or colocation facility (or other facility
that involves a material line of business into which the Company has expanded during the Term).

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     (b) Executive shall not, at any time during the Restriction Period, directly or
indirectly, recruit or otherwise solicit or induce any customer, subscriber or supplier of the
Company (i) to terminate its arrangement with the Company, or (ii) to otherwise change its
relationship with the Company. Executive shall not, at any time during the Restriction Period,
directly or indirectly, either for Executive or for any other person or entity, (A) solicit any
employee of the Company to terminate his or her employment with the Company (other than
solicitations of the general public that are not directed only towards employees of the Company),
(B) employ any such individual during his or her employment with the Company and for a period of
six months after such individual terminates his or her employment with the Company or (C) solicit
any vendor or business affiliate of the Company to cease to do business with the Company.

     (c) In the event the terms of this Section 5 shall be determined by any
court of competent jurisdiction to be unenforceable by reason of its extending for too great a
period of time or over too great a geographical area or by reason of its being too extensive in any
other respect, it will be interpreted to extend only over the maximum period of time for which it
may be enforceable, over the maximum geographical area as to which it may be enforceable, or to the
maximum extent in all other respects as to which it may be enforceable, all as determined by such
court in such action.

     (d) As used in this Section 5, (i) the term “Company” means the
Company and its direct and indirect parents and subsidiaries, (ii) the term “Business”
shall mean buying, developing and operating data centers and colocation facilities, and any other
material lines of business into which the Company may expand during the Term; and (iii) the term
“Restriction Period” shall mean the period beginning on the Effective Date and ending on the date
that is twelve (12) months following the Date of Termination.

     (e) Executive agrees, during the Term and following the Date of Termination, to
refrain from disparaging the Company and its affiliates, including any of its services,
technologies or practices, or any of its directors, officers, agents, representatives or
stockholders, either orally or in writing. The Company agrees, during the Term and following the
Date of Termination, that the Company and its officers and directors will refrain from disparaging
Executive. Nothing in this paragraph shall preclude Executive, the Company or the Company’s
directors, officers, employees, agents, representatives or stockholders from making truthful
statements that are reasonably necessary to comply with applicable law, regulation or legal
process, or to otherwise assert its rights under this Agreement or otherwise against each other.

     (f) Executive represents that Executive’s employment by the Company does not and
will not breach any agreement with any former employer, including any non-compete agreement or any
agreement to keep in confidence or refrain from using information acquired by Executive prior to
Executive’s employment by the Company. During Executive’s employment by the Company, Executive
agrees that Executive will not violate any non-solicitation agreements Executive entered into with
any former employer or improperly make use of, or disclose, any information or trade secrets of any
former employer or other third party, nor will Executive bring onto the premises of the Company or
use any unpublished documents or any property belonging

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to any former employer or other third party, in violation of any lawful agreements with that
former employer or third party.

6. Nondisclosure of Proprietary Information.

     (a) Except in connection with the performance of Executive’s duties hereunder or
pursuant to Section 6(c) and (e), Executive shall, in perpetuity, maintain in confidence
and shall not directly, indirectly or otherwise, use, disseminate, disclose or publish, or use for
Executive’s benefit or the benefit of any person, firm, corporation or other entity any
confidential or proprietary information or trade secrets of or relating to the Company (including,
without limitation, business plans, business strategies and methods, acquisition targets,
intellectual property in the form of patents, trademarks and copyrights and applications therefor,
ideas, inventions, works, discoveries, improvements, information, documents, formulae, practices,
processes, methods, developments, source code, modifications, technology, techniques, data,
programs, other know-how or materials, owned, developed or possessed by the Company, whether in
tangible or intangible form, information with respect to the Company’s operations, processes,
products, inventions, business practices, finances, principals, vendors, suppliers, customers,
potential customers, marketing methods, costs, prices, contractual relationships, regulatory
status, prospects and compensation paid to employees or other terms of employment) (collectively,
the “Confidential Information”), or deliver to any person, firm, corporation or other
entity any document, record, notebook, computer program or similar repository of or containing any
such Confidential Information. The Parties hereby stipulate and agree that, as between them, any
item of Confidential Information is important, material and confidential and affects the successful
conduct of the businesses of the Company (and any successor or assignee of the Company).
Notwithstanding the foregoing, Confidential Information shall not include any information that has
been published in a form generally available to the public prior to the date Executive proposes to
disclose or use such information, provided, that such publishing of the Confidential Information
shall not have resulted from Executive directly or indirectly breaching Executive’s obligations
under this Section 6(a) or any other similar provision by which Executive is bound, or from
any third-party breaching its confidentiality obligations to the Company (to the extent Executive
knows of the breach) For the purposes of the previous sentence, Confidential Information will not
be deemed to have been published or otherwise disclosed merely because individual portions of the
information have been separately published, but only if all material features comprising such
information have been published in combination.

     (b) Upon termination of Executive’s employment with the Company for any reason,
Executive will promptly deliver to the Company all correspondence, drawings, manuals, letters,
notes, notebooks, reports, programs, plans, proposals, financial documents, or any other documents
or property concerning the Company’s customers, business plans, marketing strategies, products,
property or processes.

     (c) Executive may respond to a lawful and valid subpoena or other legal process but
shall give the Company prompt notice thereof, and shall, as much in advance of the return date as
practicable, make available to the Company and its counsel the documents and other information
sought and shall assist (to the extent reasonably requested by the Company) such

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counsel at Company’s expense in resisting or otherwise responding to such process. Nothing
herein shall preclude or restrict Executive from responding to a lawful and valid subpoena or other
legal process in a manner in which Executive determines in his best interests in accordance with
privileged and confidential legal advice that Executive obtains separate from the Company and its
counsel.

     (d) As used in this Section 6 and Section 7, the term
“Company” shall mean the Company, the REIT and their direct and indirect subsidiaries
(including an operating partnership of which the REIT is the general partner).

     (e) Nothing in this Agreement shall prohibit Executive from (i) disclosing
information and documents when required by law, subpoena or court order (subject to the
requirements of Section 6(c) above), (ii) disclosing information and documents to
Executive’s attorney or tax adviser for the purpose of securing legal or tax advice, (iii)
disclosing Executive’s post-employment restrictions in this Agreement in confidence to any
potential new employer, or (iv) retaining, at any time, Executive’s personal correspondence,
Executive’s personal contacts and documents related to Executive’s own personal benefits,
entitlements and obligations.

7. Inventions. 

     All rights to discoveries, inventions, improvements and innovations (including all data and
records pertaining thereto) related to the business of the Company, whether or not patentable,
copyrightable, registrable as a trademark, or reduced to writing, that Executive may discover,
invent or originate during the Term, either alone or with others and whether or not during working
hours or by the use of the facilities of the Company (“Inventions”), shall be the exclusive
property of the Company. Executive shall promptly disclose all Inventions to the Company, shall
execute at the request of the Company any assignments or other documents the Company may deem
reasonably necessary to protect or perfect its rights therein, and shall assist the Company, upon
reasonable request and at the Company’s expense, in obtaining, defending and enforcing the
Company’s rights therein. Executive hereby appoints the Company as Executive’s attorney-in-fact to
execute on Executive’s behalf any assignments or other documents reasonably deemed necessary by the
Company to protect or perfect its rights to any Inventions.

8. Injunctive Relief.

     (a) It is recognized and acknowledged by Executive that a breach of the covenants
contained in Sections 5, 6 and 7 will cause irreparable damage to Company and its goodwill,
the exact amount of which will be difficult or impossible to ascertain, and that the remedies at
law for any such breach will be inadequate. Accordingly, Executive agrees that in the event of a
breach of any of the covenants contained in Sections 5, 6 and 7, in addition to any other
remedy which may be available at law or in equity, the Company will be entitled to seek specific
performance and injunctive relief.

     (b) It is recognized and acknowledged by the Company that a breach of the covenant
contained in Section 5(e) will cause irreparable damage to Executive, the exact amount of
which

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will be difficult or impossible to ascertain, and that the remedies at law for any such breach
will be inadequate. Accordingly, the Company agrees that in the event of a breach of the covenant
contained in Section 5(e), in addition to any other remedy which may be available at law or
in equity, Executive will be entitled to seek specific performance and injunctive relief.

9. Assignment and Successors.

     The Company shall not assign its rights and obligations under this Agreement to any party
without the prior written consent of Executive, except that the Company may assign its rights and
obligations under this Agreement to any successor to all or substantially all of the business or
the assets of the Company (by merger or otherwise) or to any affiliate or related company,
including, but not limited to the REIT and any entity in which the REIT holds an interest, in
connection with the REIT’s initial public offering, and may assign or encumber this Agreement and
its rights hereunder as security for indebtedness of the Company and its affiliates without the
prior written consent of Executive. This Agreement shall be binding upon and inure to the benefit
of the Company, Executive and their respective successors, assigns, personnel and legal
representatives, executors, administrators, heirs, distributees, devisees, and legatees, as
applicable. None of Executive’s rights or obligations may be assigned or transferred by Executive,
other than Executive’s rights to payments hereunder, which may be transferred only by will or
operation of law. Notwithstanding the foregoing, Executive shall be entitled, to the extent
permitted under applicable law and applicable Company Arrangements, to select and change a
beneficiary or beneficiaries to receive compensation hereunder following Executive’s death by
giving written notice thereof to the Company.

10. Certain Definitions.

     (a) Affiliate. For purposes of this Agreement, “affiliate” shall mean, with
respect to any person or entity, any person or entity that, directly or indirectly controls, is
controlled by, or is under common control with such person or entity.

     (b) Cause. The Company shall have “Cause” to terminate Executive’s
employment hereunder upon:

     (i) Executive’s failure to substantially perform Executive’s duties as an
employee of the Company (other than any such failure resulting from Executive’s Disability);

     (ii) Executive’s failure in any material respect to carry out or comply with
any lawful and reasonable directive of the Board consistent with the terms of this
Agreement;

     (iii) Executive’s material breach of this Agreement;

     (iv) Executive’s conviction, plea of no contest, plea of nolo contendere, or
imposition of unadjudicated probation for any felony;

     (v) Executive’s unlawful use (including being under the influence) or
possession of illegal drugs on the Company’s (or any of its affiliate’s) premises or while
performing Executive’s duties and responsibilities under this Agreement; or

12

 

     (vi) Executive’s commission of an act of fraud, embezzlement,
misappropriation, willful misconduct, or breach of fiduciary duty against the Company or any
of its affiliates; provided that no act or failure to act on the part of Executive shall be
considered “willful” unless it is done, or omitted to be done, by Executive in bad faith or
without reasonable belief that Executive’s action or omission was in the best interests of
the Company. Any act or failure to act, based upon specific authority given pursuant to a
resolution duly adopted by the Board or a committee thereof or based on the advice of
counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by
Executive in good faith and in the best interests of the Company.

     Notwithstanding the foregoing, in the case of clauses (i), (ii) and (iii) above, no Cause will
have occurred unless and until the Company has: (a) provided Executive, within 60 days of the
Company’s knowledge of the occurrence of the facts and circumstances underlying the Cause event,
written notice stating with specificity the applicable facts and circumstances underlying such
finding of Cause; and (b) provided Executive with an opportunity to cure the same within 30 days
after the receipt of such notice; provided, however, that Executive shall be provided only one cure
opportunity per category of Cause event in any rolling twelve (12) month period. If the
Executive fails to cure the same within such 30 days, then “Cause” shall be deemed to have occurred
as of the expiration of the 30-day cure period. For the avoidance of doubt, Executive’s death
or Disability shall not constitute “Cause” hereunder.

     (c) Change in Control. For purposes of this Agreement, “Change in
Control” shall mean the following:

          (i) a transaction or series of related transactions (other than the IPO) whereby any
“person” or related “group” of “persons” (as such terms are used in Sections 13(d) and 14(d)(2) of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than the
Company, the REIT, or any of their affiliates, an employee benefit plan maintained by the Company,
the REIT or any of their affiliates or a “person” that, prior to such transaction, directly or
indirectly controls, is controlled by, or is under common control with, the Company or the REIT)
directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3 under the
Exchange Act) of securities of the Company or the REIT possessing more than 50% of the total
combined voting power of the Company’s or the REIT’s securities outstanding immediately after such
acquisition; or

          (ii) the consummation by the Company, the REIT or any of their affiliates’ (whether
directly involving the Company, the REIT or any of their affiliates, or indirectly involving the
Company, the REIT or any of their affiliates through one or more intermediaries) of (A) a merger,
consolidation, reorganization, or business combination or (B) a sale or other disposition of all or
substantially all of the Company’s or the REIT’s assets in any single transaction or series of
related transactions or (C) the acquisition of assets or stock of another entity, in each case
other than (x) any transaction or series of transactions related to or in connection with (but
prior to) the completion of the IPO, and (y) a transaction which results in the REIT’s voting
securities outstanding immediately before the transaction continuing to

13

 

represent (either by remaining outstanding or by being converted into voting securities of the
REIT or the person that, as a result of the transaction, controls, directly or indirectly, the REIT
or owns, directly or indirectly, all or substantially all of the REIT’s assets or otherwise
succeeds to
the business of the REIT (the REIT or such person, the “Successor Entity”)) directly
or indirectly, at least a majority of the combined voting power of the Successor Entity’s
outstanding voting securities immediately after the transaction.

          (iii) Notwithstanding the foregoing, (A) no transaction or series of related
transactions shall be deemed to result in a Change in Control if immediately following such
transaction or series of related transactions, any affiliate of or investment fund operated,
controlled or managed by T.C. Group, L.L.C. has or retains at least a majority of the combined
voting power in the REIT; and (B) a transaction or event shall not constitute a Change in Control
for purposes of this Agreement unless such transaction or event also qualifies as a change in the
ownership or effective control of a corporation, or a change in the ownership of a substantial
portion of the assets of a corporation, within the meaning of Treas. Reg. § 1.409A-3(i)(5).

     (d) Date of Termination. “Date of Termination” shall mean (i) if
Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if
Executive’s employment is terminated pursuant to Section 3(a)(ii) — (vi) either the date
indicated in the Notice of Termination or the date specified by the Company pursuant to Section
3(b), whichever is earlier; (iii) if Executive’s employment is terminated pursuant to
Section 3(a)(vii) or Section 3(a)(viii), the expiration of the then-applicable
Term.

     (e) Disability. “Disability” shall mean, at any time the Company or any of
its affiliates sponsors a long-term disability plan for the Company’s employees, “disability” as
defined in such long-term disability plan for the purpose of determining a participant’s
eligibility for benefits, provided, however, if the long-term disability plan contains multiple
definitions of disability, “Disability” shall refer to that definition of disability which, if
Executive qualified for such disability benefits, would provide coverage for the longest period of
time. The determination of whether Executive has a Disability shall be made by the person or
persons required to make disability determinations under the long-term disability plan. At any
time the Company does not sponsor a long-term disability plan for its employees, Disability shall
mean Executive’s inability to perform, with or without reasonable accommodation, the essential
functions of Executive’s position hereunder for a total of three months during any six-month period
as a result of incapacity due to mental or physical illness as determined by a physician selected
by the Company or its insurers and acceptable to Executive or Executive’s legal representative,
with such agreement as to acceptability not to be unreasonably withheld or delayed. Any refusal by
Executive to submit to a medical examination for the purpose of determining Disability shall be
deemed to constitute conclusive evidence of Executive’s Disability.

     (f) Good Reason. “Good Reason” shall mean the occurrence of any of the
following events without Executive’s express written consent:

     (i) the Company’s material breach of this Agreement;

14

 

     (ii) a reduction in Executive’s Base Salary or Executive’s annual target
bonus opportunity, other than a reduction in Base Salary or annual target bonus opportunity
of less than 10% that is implemented in connection with a contemporaneous reduction in base
salaries affecting other senior executive officers of the Company;

     (iii) a relocation of Executive’s principal place of employment to a location
more than 20 miles outside of the Denver, Colorado metropolitan area;

     (iv) a requirement that Executive report to anyone other than the Board; or

     (v) a material reduction or material diminution of the Executive’s position
(including titles), duties, responsibilities or authorities, including without limitation,
any situation under which Executive is not the sole President and Chief Executive Officer of
the Company.

Notwithstanding the foregoing, no Good Reason will have occurred unless and until the Executive
has: (a) provided the Company, within 60 days of Executive’s knowledge of the occurrence of the
facts and circumstances underlying the Good Reason event, written notice stating with specificity
the applicable facts and circumstances underlying such finding of Good Reason; and (b) provided the
Company with an opportunity to cure the same within 30 days after the receipt of such notice;
provided, however, that the Company shall be provided only one cure period per category of Good
Reason event in any rolling twelve (12) month period. If the Company fails to cure the same within
such 30 days, then the termination shall be deemed to occur as of the expiration of the 30-day cure
period.

11. Miscellaneous Provisions.

     (a) Governing Law. This Agreement shall be governed, construed, interpreted
and enforced in accordance with its express terms, and otherwise in accordance with the substantive
laws of the State of Colorado, without reference to the principles of conflicts of law of the State
of Colorado or any other jurisdiction, and where applicable, the laws of the United States.

     (b) Validity. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of any other provision
of this Agreement, which shall remain in full force and effect.

     (c) Notices. Any notice, request, claim, demand, document and other
communication hereunder to any Party shall be effective upon receipt (or refusal of receipt) and
shall be in writing and delivered personally or sent by facsimile or certified or registered mail,
postage prepaid, as follows:

15

 

          (i)   If to the Company:

            1050 17th Street, Suite 800

            Denver, CO 80265

            Attention: General Counsel

            and copies to:

            Latham & Watkins LLP

            555 11th St., NW Suite 1000

            Washington DC, 20004

            Attention: David T. Della Rocca, Esq.

            Telephone: (202) 637-1050

             Fax: (202) 637-2201

          (ii)   If to Executive, at the last address that the Company has in its
personnel records for Executive.

     or at any other address as any Party shall have specified by notice in writing to the other
Party.

     (d) Counterparts. This Agreement may be executed in several counterparts,
each of which shall be deemed to be an original, but all of which together will constitute one and
the same Agreement. Signatures delivered by facsimile shall be deemed effective for all purposes.

     (e) Entire Agreement. The terms of this Agreement are intended by the
Parties to be the final expression of their agreement with respect to the employment of Executive
by the Company and supersede all prior understandings and agreements, whether written or oral. The
Parties further intend that this Agreement shall constitute the complete and exclusive statement of
their terms and that no extrinsic evidence whatsoever may be introduced in any judicial,
administrative, or other legal proceeding to vary the terms of this Agreement.

     (f) Amendments; Waivers. This Agreement may not be modified, amended, or
terminated except by an instrument in writing, signed by Executive and a duly authorized officer of
Company. By an instrument in writing similarly executed, Executive or a duly authorized officer of
the Company may waive compliance by the other Party with any specifically identified provision of
this Agreement that such other Party was or is obligated to comply with or perform; provided,
however, that such waiver shall not operate as a waiver of, or estoppel with respect to, any other
or subsequent failure. No failure to exercise and no delay in exercising any right, remedy, or
power hereunder preclude any other or further exercise of any other right, remedy, or power
provided herein or by law or in equity.

     (g) No Inconsistent Actions. It is the intent of the Parties hereto to act
in a fair and reasonable manner with respect to the interpretation and application of the
provisions of this Agreement.

     (h) Construction. This Agreement shall be deemed drafted equally by both
the Parties. Its language shall be construed as a whole and according to its fair meaning. Any
presumption or principle that the language is to be construed against any Party shall not apply.
The headings in this Agreement are only for convenience and are not intended to affect construction
or interpretation. Any references to paragraphs, subparagraphs, sections or

16

 

subsections are to those parts of this Agreement, unless the context clearly indicates to the
contrary. Also, unless the context clearly indicates to the contrary, (a) the plural includes the
singular and the singular includes the plural; (b) “and” and “or” are each used both conjunctively
and disjunctively; (c) “any,” “all,” “each,” or “every” means “any and all,” and “each and every”;
(d) “includes” and “including” are each “without limitation”; (e) “herein,” “hereof,” “hereunder”
and other similar compounds of the word “here” refer to the entire Agreement and not to any
particular paragraph, subparagraph, section or subsection; and (f) all pronouns and any
variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or
plural as the identity of the entities or persons referred to may require.

     (i) Arbitration. Any controversy, claim or dispute arising out of or
relating to this Agreement, shall be settled solely and exclusively by a binding arbitration
process administered by JAMS/Endispute in Denver, Colorado. Such arbitration shall be conducted in
accordance with the then-existing JAMS/Endispute Rules of Practice and Procedure, with the
following exceptions if in conflict: (a) the Company and Executive shall work together in good
faith to together select one arbitrator; provided that, if the Company and Executive are not able
to together select one arbitrator within ten (10) days after using such good faith efforts, one
arbitrator shall be chosen by JAMS/Endispute; (b) each party to the arbitration will pay its pro
rata share of the expenses and fees of the arbitrator, together with other expenses of the
arbitration incurred or approved by the arbitrator; and (c) arbitration may proceed in the absence
of any Party if written notice (pursuant to the JAMS/Endispute rules and regulations) of the
proceedings has been given to such Party. Each Party shall bear its own attorneys’ fees and
expenses; provided that the prevailing party (or substantially prevailing party, as determined by
the arbitrator) shall be entitled to recover its reasonable attorneys’ fees and expenses from the
other party, and the expenses and fees of the arbitrator and expenses of the arbitration shall be
paid by the unsuccessful party (or substantially unsuccessful party, as determined by the
arbitrator). The Parties agree to abide by all decisions and awards rendered in such proceedings.
Such decisions and awards rendered by the arbitrator shall be final and conclusive. All such
controversies, claims or disputes shall be settled in this manner in lieu of any action at law or
equity; provided, however, that nothing in this subsection shall be construed as precluding the
bringing an action for injunctive relief or specific performance as provided in this Agreement.
This dispute resolution process and any arbitration hereunder shall be confidential and neither any
Party nor the neutral arbitrator shall disclose the existence, contents or results of such process
without the prior written consent of all Parties. If JAMS/Endispute no longer exists or is
otherwise unavailable, the Parties agree that the American Arbitration Association (“AAA”)
shall administer the arbitration in accordance with its then-existing rules. In such event, all
references herein to JAMS/Endispute shall mean AAA. Notwithstanding the foregoing, Executive and
the Company each have the right to resolve any issue or dispute over intellectual property rights
by Court action instead of arbitration.

     (j) Enforcement. If any provision of this Agreement is held to be illegal,
invalid or unenforceable under present or future laws effective during the term of this Agreement,
such provision shall be fully severable; this Agreement shall be construed and enforced as if such
illegal, invalid or unenforceable provision had never comprised a portion of this Agreement; and
the remaining provisions of this Agreement shall remain in full force and effect and shall not be
affected by the illegal, invalid or unenforceable provision or by its severance from this

17

 

Agreement. Furthermore, in lieu of such illegal, invalid or unenforceable provision there
shall be added automatically as part of this Agreement a provision as similar in terms to such
illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable.

     (k) Withholding. The Company shall be entitled to withhold from any amounts
payable under this Agreement any federal, state, local or foreign withholding or other taxes or
charges which the Company is required to withhold. The Company shall be entitled to rely on an
opinion of counsel if any questions as to the amount or requirement of withholding shall arise.

     (l) Section 409A.

     (i) General. The intent of the Parties is that the payments and benefits
under this Agreement comply with or be exempt from Section 409A of the Internal Revenue Code
of 1986, as amended, and the regulations and guidance promulgated thereunder (collectively,
“Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement
shall be interpreted to be in compliance therewith. If Executive notifies the Company that
Executive has received advice of tax counsel with expertise in Section 409A that any
provision of this Agreement would cause Executive to incur any additional tax or interest
under Section 409A (with specificity as to the reason therefor) or the Company independently
makes such determination, the Company and Executive shall take commercially reasonable
efforts to reform such provision to try to comply with or be exempt from Section 409A
through good faith modifications to the minimum extent reasonably appropriate to conform
with Section 409A, provided that any such modifications shall not materially increase the
cost or liability to the Company. To the extent that any provision hereof is modified in
order to comply with or be exempt from Section 409A, such modification shall be made in good
faith and shall, to the maximum extent reasonably possible, maintain the original intent and
economic benefit to Executive and the Company of the applicable provision without violating
the provisions of Section 409A.

     (ii) Payments. For purposes of this Agreement, each payment is intended to
be excepted from Section 409A to the maximum extent provided under Section 409A as follows:
(i) each payment that is scheduled to be made following Executive’s Date of Termination and
within the applicable 2 1/2 month period specified in Treas. Reg. § 1.409A(b)(4) is intended
to be excepted under the short-term deferral exception as specified in Treas. Reg. §
1.409A-1(b)(4); (ii) post-termination medical benefits are intended to be excepted under the
medical benefits exception as specified in Treas. Reg. § 1.409A-1(b)(9)(v)(B), and (iii)
each payment that is not otherwise excepted under the short-term deferral exception or
medical benefits exception is intended to be excepted under the voluntary separation pay
exception as specified in Treas. Reg. § 1.409A-1(b)(9)(iii). The Executive shall have no
right to designate the date of any payment hereunder.

     (iii) Separation from Service. Notwithstanding anything in this Agreement to
the contrary, any compensation or benefits payable under this Agreement that is designated
under this Agreement as payable upon Executive’s termination of

18

 

employment shall be payable only upon Executive’s “separation from service” with the
Company within the meaning of Section 409A (a “Separation from Service”) and, except
as provided below, any such compensation or benefits shall not be paid, or, in the case of
installments, shall not commence payment, until the thirtieth (30th) day following
Executive’s Separation from Service (the “First Pay Date”). Any installment
payments that would have been made to Executive during the thirty (30) day period
immediately following Executive’s Separation from Service but for the preceding sentence
shall be paid to Executive on the First Pay Date and the remaining payments shall be made as
provided in this Agreement.

     (iv) Specified Employee. Notwithstanding anything in this Agreement to the
contrary, if Executive is deemed by the Company at the time of Executive’s Separation from
Service to be a “specified employee” for purposes of Section 409A, to the extent delayed
commencement of any portion of the benefits to which Executive is entitled under this
Agreement is required in order to avoid a prohibited distribution under Section 409A, such
portion of Executive’s benefits shall not be provided to Executive prior to the earlier of
(x) the expiration of the six-month period measured from the date of Executive’s Separation
from Service with the Company or (y) the date of Executive’s death. Upon the first business
day following the expiration of the applicable Section 409A period, all payments deferred
pursuant to the preceding sentence shall be paid in a lump sum to Executive (or Executive’s
estate or beneficiaries), and any remaining payments due to Executive under this Agreement
shall be paid as otherwise provided herein.

     (v) Expense Reimbursements. To the extent that any reimbursements under this
Agreement are subject to Section 409A, any such reimbursements payable to Executive shall be
paid to Executive no later than December 31 of the year following the year in which the
expense was incurred; provided, that Executive submits Executive’s reimbursement request
promptly following the date the expense is incurred, the amount of expenses reimbursed in
one year shall not affect the amount eligible for reimbursement in any subsequent year,
other than medical expenses referred to in Section 105(b) of the Code, and Executive’s right
to reimbursement under this Agreement will not be subject to liquidation or exchange for
another benefit.

     (vi) Installments. Executive’s right to receive any installment payments
under this Agreement, including without limitation any continuation salary payments that are
payable on Company payroll dates, shall be treated as a right to receive a series of
separate payments and, accordingly, each such installment payment shall at all times be
considered a separate and distinct payment as permitted under Section 409A.

     (m) 280G Optimization.

     (i) If it is determined that any payment or benefit provided by the Company
to or for the benefit of Executive, whether paid or payable or distributed or distributable
pursuant to the terms of this Agreement or otherwise, including, by example and not by way
of limitation, acceleration by the Company or otherwise of the date of vesting or

19

 

payment under any plan, program, arrangement or agreement of the Company, but excluding
the payment required under clause (y) below, would be subject to the excise tax imposed by
Code section 4999 or any interest or penalties with respect to such excise tax (such excise
tax together with any such interest and penalties, shall be referred to as the “Excise
Tax”), then the Company shall first make a calculation under which such payments or
benefits provided to Employee are reduced to the extent necessary so that no portion thereof
shall be subject to the Excise Tax (the “4999 Limit”). The Company shall then
compare (A) Executive’s Net After-Tax Benefit (as defined below) assuming application of the
4999 Limit with (B) Executive’s Net After-Tax Benefit without application of the 4999 Limit.
Executive shall be entitled to the greater of (A) or (B). “Net After-Tax Benefit”
shall mean the sum of (x) all payments that Executive receives
or is entitled to receive from the Company that are contingent on a change in the
ownership or effective control of the Company or in the ownership of a substantial portion
of the assets of the Company within the meaning of Code section 280G(b)(2) (either, a
“Section 280G Transaction”), less (y) the amount of federal, state, local,
employment, and Excise Tax (if any) imposed with respect to such payments. If Executive is
required to reduce payments to which he is otherwise entitled such that no portion thereof
is subject to the Excise Tax, in order to comply with Code Section 409A, (I) payment or
acceleration with respect to Executive’s equity awards shall be reduced first, in proportion
to the amount of each such payment or amount of each such acceleration for purposes of Code
Section 280G; and (II) if any remaining payments are required to be reduced, cash payments
shall be reduced, beginning with payments that would be received last in time.

     (ii) In connection with a Section 280G Transaction, if the Company then
constitutes a small business corporation within the meaning of Code Section 280G(b)(5), at
the request of Executive, the Company shall submit to the shareholders of the Company (the
“Shareholders”) for approval (in a manner reasonably satisfactory to Executive), by
such number of Shareholders as is required by the terms of Code Section 280G(b)(5)(B), any
payments and/or benefits that may separately or in the aggregate, constitute the payment of
any amount that may be deemed a “parachute payment” under Code Section 280G with respect to
Executive (“Section 280G Payments”), such that such payments and benefits shall not
be deemed to be Section 280G Payments, provided that Executive executes, prior to the
Shareholder vote, an appropriate waiver of the 280G Payments that would take effect if the
Shareholder vote does not approve the Section 280G Payments.

12. Employee Acknowledgement.

     Executive acknowledges that Executive has read and understands this Agreement, is fully aware
of its legal effect, has not acted in reliance upon any representations or promises made by the
Company other than those contained in writing herein, and has entered into this Agreement freely
based on Executive’s own judgment.

[Signature Page Follows]

20

 

     IN WITNESS WHEREOF, the Parties have executed this Agreement on the date and year first above
written.

	 	 	 	 	 	 	 

	 	 	COMPANY	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Name:
	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Thomas Ray	 	 

[Signature Page to Thomas Ray Employment Agreement]

 

EXHIBIT A

Details of Initial Equity Award

     The Company agrees to offer Executive participation in an equity incentive program as an
additional component to his compensation package, subject to the conditions described herein and
such terms and conditions as may be set forth in the 2010 Plan and the Award Agreement (each as
defined below). Capitalized terms not defined herein shall have the meanings assigned to them in
the Employment Agreement to which this Exhibit A is attached (the “Employment Agreement”).

     In connection with an expected IPO, the Company expects to adopt a new equity incentive plan
(the “Plan”), pursuant to which the Board may from time to time make various incentive equity or
equity-based awards to the Company’s employees and other service providers. Subject to the
adoption and approval of the Plan, Executive will receive within 60 days after the adoption of the
Plan, and subject to Board approval and Executive’s continued employment with the Company through
the date of the IPO, one or more awards under the 2010 Plan having an aggregate value (as of the
date of grant of the Award) equal to $1,200,000, of which $720,000 shall be provided in the form of
stock options (the “Options”) and $480,000 shall be provided in the form of restricted stock (the
“Shares” and together with the Options, the “Award”). The number of Shares to be granted will be
determined by dividing 480,000 by the IPO price of the stock. The Options will be granted with an
exercise price equal to the fair market value of the stock on the date of grant of the Options,
which the Company expects will be the IPO price of the stock. The number of Options to be granted
will be based on the exercise price of the Options, with each Option to purchase one share of stock
being valued at 40% of the exercise price of the Option, such that the number of Options to be
granted will be determined as follows: (x) 720,000 divided by the fair market value of the stock on
the date of grant of the Options (which the Company expects will be the IPO price of the stock);
multiplied by (y) 2.5.

     The terms and conditions applicable to the Award will be set forth in separate agreements
governing the Award (the “Award Agreements”), which Award Agreements shall be in the form attached
to the Employment Agreement as Exhibits C and D. Nothing in this exhibit or the Award Agreements
is or will be a guarantee of employment or future employment and nothing in this exhibit or the
Award Agreement does or will affect the ability of the Company to terminate Executive’s employment
with or without Cause for any reason at any time.

     The purpose of the Award is to provide Executive with an additional economic stake in the
financial performance of the Company and this exhibit is being provided on the assumption that the
IPO will occur and that the Plan will be adopted and approved. If, for any reason, the IPO does
not occur or the Plan is not adopted or approved, Executive will not receive the Award described
above.

     The consummation of the IPO and the adoption of the Plan shall be in the sole discretion of
CoreSite and its member and managers and nothing in this letter shall require CoreSite or any of
its members, managers or affiliates to take any action with respect to the IPO or the Plan or to
enter into any transaction.

A-1

 

EXHIBIT B

Form of Release

     This Agreement and Release (“Agreement”) is made by and between Thomas Ray (“Employee”) and
                     (the “Company”) (collectively, referred to as the “Parties” or individually referred
to as a “Party”). Capitalized terms used but not defined in this Agreement shall have the meanings
set forth in the Employment Agreement (as defined below).

     WHEREAS, the Parties have previously entered into that certain Employment Agreement, dated as
of                     , 2010 (the “Employment Agreement”); and

     WHEREAS, in connection with the Employee’s termination of employment with the Company
effective                     , 20___, the Parties wish to resolve any and all disputes, claims, complaints,
grievances, charges, actions, petitions, and demands that the Employee may have against the Company
and any of the Releasees (as defined below) arising out of Employee’s employment with or separation
from the Company.

     NOW, THEREFORE, in consideration of the Severance Payments described in Sections 4(c) or 4(d),
as applicable, of the Employment Agreement, which, pursuant to the Employment Agreement, are
conditioned on the Employee’s execution and non-revocation of this Agreement, and in consideration
of the mutual promises made herein, the Company and Employee hereby agree as follows:

     1. Severance Payments; Salary and Benefits. The Company agrees to provide Employee
with the severance payments and benefits described in Section 4(c) and 4(d) of the Employment
Agreement, as applicable, payable at the times set forth in, and subject to the terms and
conditions of, the Employment Agreement. In addition, to the extent not already paid, and subject
to the terms and conditions of the Employment Agreement, the Company shall pay or provide to the
Employee all other payments or benefits described in Section 3(c) of the Employment Agreement,
subject to and in accordance with the terms thereof.

     2. Release of Claims. Employee agrees that the foregoing consideration represents
settlement in full of all outstanding obligations owed to Employee by the Company, any of its
direct or indirect subsidiaries and affiliates (including the REIT and its affiliated entities),
and any of their current and former officers, managers, employees, agents, investors, attorneys,
shareholders, administrators, affiliates, benefit plans, plan administrators, insurers, trustees,
divisions, and subsidiaries and predecessor and successor corporations and assigns (collectively,
the “Releasees”). Except as to the obligations of the Company arising under this Agreement,
Employee, on his own behalf and on behalf of any of Employee’s affiliated companies or entities and
any of their respective heirs, family members, executors, agents, and assigns, hereby and forever
releases the Releasees from, and agrees not to sue concerning, or in any manner to institute,
prosecute, or pursue, any claim, complaint, charge, duty, obligation, or cause of action relating
to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that
Employee may possess against any of the Releasees arising from any omissions, acts, facts, or
damages that have occurred up until and including the Effective Date (as defined in Section 7
below) of this Agreement, including, without limitation:

 

 

          (a) any and all claims relating to or arising from Employee’s employment or service
relationship with the Company or any of its direct or indirect subsidiaries or affiliates and the
termination of that relationship;

          (b) any and all claims for wrongful discharge of employment; termination in violation of
public policy; discrimination; harassment; retaliation; breach of contract, both express and
implied; breach of covenant of good faith and fair dealing, both express and implied; promissory
estoppel; negligent or intentional infliction of emotional distress; fraud; negligent or
intentional misrepresentation; negligent or intentional interference with contract or prospective
economic advantage; unfair business practices; defamation; libel; slander; negligence; personal
injury; assault; battery; invasion of privacy; false imprisonment; conversion; and disability
benefits;

          (c) any and all claims for violation of any federal, state, or municipal statute, including,
but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the
Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the
Fair Labor Standards Act; the Fair Credit Reporting Act; the Age Discrimination in Employment Act
of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of
1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act; the
Sarbanes-Oxley Act of 2002;

          (d) any and all claims for violation of the federal or any state constitution; and

          (e) any and all claims arising out of any other laws and regulations relating to employment or
employment discrimination.

          (g) any claim for any loss, cost, damage, or expense arising out of any dispute over the
nonwithholding or other tax treatment of any of the proceeds received by Employee as a result of
this Agreement; and

          (h) any and all claims for attorneys’ fees and costs.

Employee agrees that the release set forth in this section shall be and remain in effect in all
respects as a complete general release as to the matters released. This release does not release
(A) claims that cannot be released as a matter of law, including, but not limited to, Employee’s
right to file a charge with or participate in a charge by the Equal Employment Opportunity
Commission, or any other local, state, or federal administrative body or government agency that is
authorized to enforce or administer laws related to employment, against the Company (with the
understanding that Employee’s release of claims herein bars Employee from recovering such monetary
relief from the Company or any Releasee), (B) claims for unemployment compensation or any state
disability insurance benefits pursuant to the terms of applicable state law, (C) claims to
continued participation in certain of the Company’s group benefit plans pursuant to the terms and
conditions of COBRA, (D) claims to any benefit entitlements vested as the date of separation of
Employee’s employment, pursuant to written terms of any employee benefit plan of the Company or its
affiliates, (E) any and all rights of Employee to indemnification, reimbursement and subrogation
under applicable law, any contract or agreement, or any articles of formation or incorporation of
the Company or any of its affiliates or

B-2

 

successors, and (F) any rights of Employee under the Company’s or its affiliates’ or successors’
D&O policy(ies).

     3. Acknowledgment
of Waiver of Claims under ADEA. Employee understands and
acknowledges that he is waiving and releasing any rights he may have under the Age Discrimination
in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary.
Employee understands and agrees that this waiver and release does not apply to any rights or claims
that may arise under the ADEA after the Effective Date of this Agreement. Employee understands and
acknowledges that the consideration given for this waiver and release is in addition to anything of
value to which Employee was already entitled. Employee further understands and acknowledges that
he has been advised by this writing that: (a) he should consult with an attorney prior to
executing this Agreement; (b) he has 21 days within which to consider this Agreement; (c) he has 7
days following his execution of this Agreement to revoke this Agreement; (d) this Agreement shall
not be effective until after the revocation period has expired; and (e) nothing in this Agreement
prevents or precludes Employee from challenging or seeking a determination in good faith of the
validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or
costs for doing so, unless specifically authorized by federal law. In the event Employee signs
this Agreement and returns it to the Company in less than the 21 day period identified above,
Employee hereby acknowledges that he has freely and voluntarily chosen to waive the time period
allotted for considering this Agreement.

     4. Severability. In the event that any provision or any portion of any provision
hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent
jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in
full force and effect without said provision or portion of provision.

     5. No Oral Modification. This Agreement may only be amended in a writing signed by
Employee and a duly authorized officer of the Company.

     6. Governing Law; Dispute Resolution. This Agreement shall be subject to the
provisions of Sections 11(a) and 11(i) of the Employment Agreement.

     7. Effective Date. If the Employee has attained or is over the age of 40 as of the
date of Employee’s termination of employment, then Employee has seven days after Employee signs
this Agreement to revoke it and this Agreement will become effective on the eighth day after
Employee signed this Agreement, so long as it has been signed by the Parties and has not been
revoked by Employee before that date (the “Effective Date”).

     8. Voluntary Execution of Agreement. Employee understands and agrees that he executed
this Agreement voluntarily, without any duress or undue influence on the part or behalf of the
Company or any third party, with the full intent of releasing all of his claims against the Company
and any of the other Releasees. Employee acknowledges that: (a) he has read this Agreement; (b)
he has not relied upon any representations or statements made by the Company that are not
specifically set forth in this Agreement; (c) he has been represented in the preparation,
negotiation, and execution of this Agreement by legal counsel of his own choice or has elected not
to retain legal counsel; (d) he understands the terms and consequences of this

B-3

 

Agreement and of the releases it contains; and (e) he is fully aware of the legal and binding
effect of this Agreement.

     IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth
below.

	 	 	 	 	 
	 
	Dated:                      	 	 
	 	Thomas Ray 	 
	 	 	 
	 	 	 
	 	[COMPANY]

 	 
	Dated:                      	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

B-4

 

	 	 	 	 	 

EXHIBIT C

Form of Option Agreement

 

 

CORESITE REALTY CORPORATION AND CORESITE, L.P.

2010 EQUITY INCENTIVE AWARD PLAN

STOCK OPTION GRANT NOTICE

     CoreSite Realty Corporation, a Maryland corporation, (the “Company”), pursuant to the CoreSite
Realty Corporation and CoreSite, L.P. 2010 Equity Incentive Award Plan, as amended from time to
time (the “Plan”), hereby grants to the holder listed below (“Participant”), an option to purchase
the number of shares of Stock (as defined in the Plan) set forth below (the “Option”). This Option
is subject to all of the terms and conditions set forth herein and in the Stock Option Agreement
attached hereto as Exhibit A (the “Stock Option Agreement”) and the Plan, each of which are
incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan
shall have the same defined meanings in this Grant Notice and the Stock Option Agreement.

	 	 	 

	Participant:

	 	Thomas Ray
	 
	 	 
	Grant Date:

	 	[                                        ]
	 
	 	 
	Exercise Price per Share:

	 	$[___]
	 
	 	 
	Total Exercise Price:

	 	$ [___]
	 
	 	 
	Total Number of Shares
Subject to the Option:

	 	[                    ] shares
	 
	 	 
	Expiration Date:

	 	[Date that is 10 years after Grant Date to be inserted]
	 
	 	 
	Vesting Schedule:

	 	The Option will vest and become exercisable in four
equal annual installments, with the first such
installment vesting on the one-year anniversary of the
Grant Date and the last such installment vesting on
the four-year anniversary of the Grant Date, in each
case subject to the Participant’s continued employment
with or service to the Company on each applicable
vesting date.
	 
	 	 
	Type of Option:

	 	Non-Qualified Stock Option

     By his or her signature and the Company’s and the Partnership’s signature below, Participant
agrees to be bound by the terms and conditions of the Plan, the Stock Option Agreement and this
Grant Notice. Participant has reviewed the Stock Option Agreement, the Plan and this Grant Notice
in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Grant Notice and fully understands all provisions of this Grant Notice, the Stock Option Agreement
and the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions
or interpretations of the Administrator upon any questions arising under the Plan, this Grant
Notice or the Stock Option Agreement.

	 	 	 	 	 	 	 	 	 

	CORESITE REALTY CORPORATION:	 	PARTICIPANT:	 	 
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	By:
	 	Thomas Ray
	 	 
	Print Name:

	 	 	 	Print Name:	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	Address:

	 	 	 	Address:	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	CORESITE L.P.:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 

	Print Name:
	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

TO STOCK OPTION GRANT NOTICE

CORESITE REALTY CORPORATION STOCK OPTION AGREEMENT

     Pursuant to the Stock Option Grant Notice (the “Grant Notice”) to which this Stock Option
Agreement (this “Agreement”) is attached, CoreSite Realty Corporation, a Maryland corporation (the
“Company”), has granted to Participant an Option under the CoreSite Realty Corporation and
CoreSite, L.P. 2010 Equity Incentive Award Plan, as amended from time to time (the “Plan”), to
purchase the number of shares of Stock indicated in the Grant Notice.

ARTICLE 1.

GENERAL

     1.1 Defined Terms. Capitalized terms not specifically defined herein shall have the
meanings specified in the Plan and the Grant Notice.

     1.2 Incorporation of Terms of Plan. The Option is subject to the terms and
conditions of the Plan which are incorporated herein by reference. In the event of any
inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

ARTICLE 2.

GRANT OF OPTION

     2.1 Grant of Option. In consideration of Participant’s past and/or continued
employment with or service to the Company, the Partnership or a Subsidiary and for other good and
valuable consideration, effective as of the Grant Date set forth in the Grant Notice (the “Grant
Date”), the Company grants to Participant the Option to purchase any part or all of an aggregate
of the number of shares of Stock set forth in the Grant Notice, upon the terms and conditions set
forth in the Plan and this Agreement, subject to adjustments as provided in Section 10.1 of the
Plan. This Option is Non-Qualified Stock Option.

     2.2 Exercise Price. The exercise price of the shares of Stock subject to the Option
shall be as set forth in the Grant Notice, without commission or other charge; provided, however,
that the price per share of the shares of Stock subject to the Option shall not be less than 100%
of the Fair Market Value of a share of Stock on the Grant Date.

     2.3 Consideration to the Company. In consideration of the grant of the Option by the
Company, Participant agrees to render faithful and efficient services to the Company, the
Partnership or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon
Participant any right to continue in the employ or service of the Company, the Partnership or any
Subsidiary or shall interfere with or restrict in any way the rights of the Company, the
Partnership and the Subsidiaries, which rights are hereby expressly reserved, to discharge or
terminate the services of Participant at any time for any reason whatsoever, with or without
cause, except to the extent expressly provided otherwise in a written agreement between the
Company, the Partnership or a Subsidiary and Participant.

B-1

 

ARTICLE 3.

PERIOD OF EXERCISABILITY

     3.1 Commencement of Exercisability.

          (a) Subject to Sections 3.2, 3.3, 5.10 and 5.15 hereof, the Option shall become vested and
exercisable in such amounts and at such times as are set forth in the Grant Notice. In addition,
the Participant shall be entitled to accelerated vesting in certain circumstances pursuant to the
terms of that certain Employment Agreement between the Participant and CoreSite, LLC, dated as of
August 1, 2010, as such agreement may be amended or replaced from time to time (the “Employment
Agreement”).

          (b) No portion of the Option which has not become vested and exercisable at the date of
Participant’s Termination of Service shall thereafter become vested and exercisable, except as may
be otherwise provided by the Administrator or as set forth in the Employment Agreement (including
Section 4(d) thereof) or a written agreement between the Company, the Partnership and Participant.

          (c) Notwithstanding Sections 3.1(a) hereof and the Grant Notice, but subject to Section
3.1(b) hereof, pursuant to Section 10.2 of the Plan, the Option shall become fully vested and
exercisable with respect to all shares of Stock covered thereby in the event of a Change in
Control, in connection with which the successor corporation does not assume the Option or
substitute an equivalent right for the Option. Should the successor corporation assume the Option
or substitute an equivalent right, then no such acceleration shall apply, except as set forth in
the Employment Agreement (including Section 4(d) thereof).

     3.2 Duration of Exercisability. The installments provided for in the vesting
schedule set forth in the Grant Notice are cumulative. Each such installment which becomes vested
and exercisable pursuant to the vesting schedule set forth in the Grant Notice shall remain vested
and exercisable until it becomes unexercisable under Section 3.3 hereof.

     3.3 Expiration of Option. The Option may not be exercised to any extent by anyone
after the first to occur of the following events:

          (a) The Expiration Date set forth in the Grant Notice, which shall in no event be more than
ten (10) years from the Grant Date;

          (b) The expiration of one (1) year from the date of Participant’s Termination of Service,
unless such termination is for Cause (as defined in the Employment Agreement); or

          (c) The expiration of three (3) months from the date of Participant’s Termination of Service
by the Company or the Partnership for Cause (as defined in the Employment Agreement).

ARTICLE 4.

EXERCISE OF OPTION

     4.1 Person Eligible to Exercise. During the lifetime of Participant, only
Participant may exercise the Option or any portion thereof. After the death of Participant, any
exercisable portion of the Option may, prior to the time when the Option becomes unexercisable
under Section 3.3 hereof, be

B-2

 

exercised by Participant’s personal representative or by any person empowered to do so under
the deceased Participant’s will or under the then applicable laws of descent and distribution.

     4.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if
then wholly exercisable, may be exercised in whole or in part at any time prior to the time when
the Option or portion thereof becomes unexercisable under Section 3.3 hereof.

     4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be
exercised solely by delivery to the Secretary of the Company (or any third party administrator or
other person or entity designated by the Company), during regular business hours, of all of the
following prior to the time when the Option or such portion thereof becomes unexercisable under
Section 3.3 hereof:

          (a) An exercise notice in a form specified by the Administrator, stating that the Option or
portion thereof is thereby exercised, such notice complying with all applicable rules established
by the Administrator;

          (b) The receipt by the Company or the Partnership of full payment for the shares of Stock
with respect to which the Option or portion thereof is exercised, including payment of any
applicable withholding tax, which shall be made by deduction from other compensation payable to
Participant or in such other form of consideration permitted under Section 4.4 hereof that is
acceptable to the Company and the Partnership;

          (c) Any other written representations as may be required in the Administrator’s reasonable
discretion to evidence compliance with the Securities Act or any other applicable law, rule or
regulation; and

          (d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1
hereof by any person or persons other than Participant, appropriate proof of the right of such
person or persons to exercise the Option.

Notwithstanding any of the foregoing, the Company and the Partnership shall have the right to
specify all conditions of the manner of exercise, which conditions may vary by country and which
may be subject to change from time to time.

     4.4 Method of Payment. Payment of the exercise price shall be by any of the
following, or a combination thereof, at the election of Participant:

          (a) Cash or check;

          (b) Surrender of shares of Stock (including, without limitation, shares of Stock otherwise
issuable upon exercise of the Option) held for such period of time as may be required by the
Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on
the date of delivery equal to the aggregate exercise price of the Option or exercised portion
thereof; or

          (c) Other property acceptable to the Administrator (including, without limitation, through
the delivery of a notice that Participant has placed a market sell order with a broker with
respect to shares of Stock then issuable upon exercise of the Option, and that the broker has been
directed to pay a sufficient portion of the net proceeds of the sale to the Company or the
Partnership in satisfaction of the Option exercise price; provided that payment of such proceeds
is then made to the Company or the Partnership at such time as may be required by the Company or
the Partnership, but in any event not later than the settlement of such sale).

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     4.5 Conditions to Issuance of Stock. The shares of Stock deliverable upon the
exercise of the Option, or any portion thereof, may be either previously authorized but unissued
shares of Stock or issued shares of Stock which have then been reacquired by the Company or the
Partnership. Such shares of Stock shall be fully paid and nonassessable. The Company or the
Partnership shall not be required to issue or deliver any shares of Stock purchased upon the
exercise of the Option or portion thereof prior to fulfillment of all of the following conditions:

          (a) The admission of such shares of Stock to listing on all stock exchanges on which such
Stock is then listed;

          (b) The completion of any registration or other qualification of such shares of Stock under
any state or federal law or under rulings or regulations of the Securities and Exchange Commission
or of any other governmental regulatory body, which the Administrator shall, in its absolute
discretion, deem necessary or advisable;

          (c) The obtaining of any approval or other clearance from any state or federal governmental
agency which the Administrator shall, in its absolute discretion, determine to be necessary or
advisable;

          (d) The receipt by the Company or the Partnership of full payment for such shares of Stock,
including payment of any applicable withholding tax, which may be in one or more of the forms of
consideration permitted under Section 4.4 hereof; and

          (e) The lapse of such reasonable period of time following the exercise of the Option as the
Administrator may from time to time establish for reasons of administrative convenience.

     4.6 Rights as Stockholder. The holder of the Option shall not be, nor have any of
the rights or privileges of, a stockholder of the Company, including, without limitation, voting
rights and rights to dividends, in respect of any shares of Stock purchasable upon the exercise of
any part of the Option unless and until such shares of Stock shall have been issued by the Company
and held of record by such holder (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company). No adjustment will be made for a
dividend or other right for which the record date is prior to the date the shares of Stock are
issued, except as provided in Section 10.1 of the Plan.

     4.7 Tax Withholding. Notwithstanding any other provision of this Agreement:

          (a) The Company and the Partnership have the authority to deduct or withhold, or require
Participant to remit to the Company or the Partnership, an amount sufficient to satisfy applicable
federal, state, local and foreign taxes (including any FICA obligation) required by law to be
withheld with respect to any taxable event arising pursuant to this Agreement. The Company may
permit Participant to make such payment in one or more of the forms specified below:

               (i) by cash or check made payable to the Company or the Partnership;

               (ii) by the deduction of such amount from other compensation payable to Participant;

               (iii) with respect to any withholding taxes arising as a result of the exercise of the Option,
by requesting that the Company withhold a net number of shares of Stock otherwise issuable

B-4

 

pursuant to such exercise having a then current Fair Market Value not exceeding the amount
necessary to satisfy the withholding obligation of the Company, the Partnership and their
subsidiaries based on the minimum applicable statutory withholding rates for federal, state, local
and foreign income tax and payroll tax purposes;

               (iv) with respect to any withholding taxes arising as a result of the exercise of the Option,
by tendering vested shares of Stock having a then current Fair Market Value not exceeding the
amount necessary to satisfy the withholding obligation of the Company, the Partnership and their
subsidiaries based on the minimum applicable statutory withholding rates for federal, state, local
and foreign income tax and payroll tax purposes; or

               (v) in any combination of the foregoing.

          (b) With respect to any withholding taxes arising as a result of the exercise of the Option,
in the event Participant fails to provide timely payment of all sums required pursuant to Section
4.7(a), the Company, the Partnership or any of their subsidiaries shall have the right and option,
but not the obligation, to treat such failure as an election by Participant to satisfy all or any
portion of Participant’s required payment obligation pursuant to Section 4.7(a)(ii) or Section
4.7(a)(iii) above, or any combination of the foregoing as the Company, the Partnership or any of
their subsidiaries may determine to be appropriate. The Company shall not be obligated to deliver
any certificate representing shares of Stock issuable with respect to the exercise of the Option
to Participant or his or her legal representative unless and until Participant or his or her legal
representative shall have paid or otherwise satisfied in full the amount of all federal, state,
local and foreign taxes applicable with respect to the taxable income of Participant resulting
from the exercise of the Option or any other taxable event related to this Award.

          (c) In the event Participant’s tax withholding obligation will be satisfied under Section
4.7(a)(iii) above, then the Company or the Partnership may elect to instruct any brokerage firm
determined acceptable to the Company or the Partnership for such purpose to sell on Participant’s
behalf a whole number of shares from those shares of Stock issuable to Participant upon exercise
of the Option as the Company determines to be appropriate to generate cash proceeds sufficient to
satisfy Participant’s tax withholding obligation. Participant’s acceptance of this Award
constitutes Participant’s instruction and authorization to the Company and the Partnership and
such brokerage firm to complete the transactions described above, including the transactions
described in the previous sentence, as applicable. Any shares of Stock to be sold at the
Company’s or the Partnership’s direction through a broker-assisted sale will be sold on the day
the tax withholding obligation arises (i.e., the date Stock is delivered) or as soon thereafter as
practicable. The shares of Stock may be sold as part of a block trade with other participants of
the Plan in which all participants receive an average price. Participant will be responsible for
all broker’s fees and other costs of sale, and Participant agrees to indemnify and hold the
Company and the Partnership harmless from any losses, costs, damages, or expenses relating to any
such sale. To the extent the proceeds of such sale exceed Participant’s tax withholding
obligation, the Company or the Partnership, as applicable, agrees to pay such excess in cash to
Participant as soon as practicable. Participant acknowledges that the Company, the Partnership or
their designee is under no obligation to arrange for such sale at any particular price, and that
the proceeds of any such sale may not be sufficient to satisfy Participant’s tax withholding
obligation. The Company or the Partnership may refuse to issue any shares of Stock in settlement
of the Option to Participant until the foregoing tax withholding obligations are satisfied.

B-5

 

ARTICLE 5.

OTHER PROVISIONS

     5.1 Administration. The Administrator shall have the power to interpret the Plan and
this Agreement and to adopt such rules for the administration, interpretation and application of
the Plan as are consistent therewith and to interpret, amend or revoke any such rules. All
actions taken and all interpretations and determinations made by the Administrator in good faith
shall be final and binding upon Participant, the Company, the Partnership and all other interested
persons. No member of the Committee or the Board shall be personally liable for any action,
determination or interpretation made in good faith with respect to the Plan, this Agreement or the
Option.

     5.2 Whole Shares. The Option may only be exercised for whole shares of Stock.

     5.3 Option Not Transferable. Subject to Section 4.1 hereof, the Option may not be
sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and
distribution, unless and until the shares of Stock underlying the Option have been issued, and all
restrictions applicable to such shares of Stock have lapsed. Neither the Option nor any interest
or right therein shall be liable for the debts, contracts or engagements of Participant or his or
her successors in interest or shall be subject to disposition by transfer, alienation,
anticipation, pledge, encumbrance, assignment or any other means whether such disposition be
voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any
other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof
shall be null and void and of no effect, except to the extent that such disposition is permitted
by the preceding sentence.

     5.4 Binding Agreement. Subject to the limitation on the transferability of the
Option contained herein, this Agreement will be binding upon and inure to the benefit of the
heirs, legatees, legal representatives, successors and assigns of the parties hereto.

     5.5 Adjustments Upon Specified Events. The Administrator may accelerate the vesting
of the Option in such circumstances as it, in its sole discretion, may determine. In addition,
upon the occurrence of certain events relating to the Stock contemplated by Section 10.1 of the
Plan (including, without limitation, an extraordinary cash dividend on such Stock), the
Administrator shall make such adjustments the Administrator deems appropriate in the number of
shares of Stock subject to the Option, the exercise price of the Option and the kind of securities
that may be issued upon exercise of the Option. Participant acknowledges that the Option is
subject to adjustment, modification and termination in certain events as provided in this
Agreement and Section 10.1 of the Plan.

     5.6 Notices. Any notice to be given under the terms of this Agreement to the Company
or the Partnership shall be addressed to the Company in care of the Secretary of the Company at
the Company’s principal office, and any notice to be given to Participant shall be addressed to
Participant at Participant’s last address reflected on the Company’s or the Partnership’s records.
By a notice given pursuant to this Section 5.6, any party may hereafter designate a different
address for notices to be given to that party. Any notice which is required to be given to
Participant shall, if Participant is then deceased, be given to the person entitled to exercise
his or her Option pursuant to Section 4.1 hereof by written notice under this Section 5.6. Any
notice shall be deemed duly given when sent via email or when sent by certified mail (return
receipt requested) and deposited (with postage prepaid) in a post office or branch post office
regularly maintained by the United States Postal Service.

     5.7 Titles. Titles are provided herein for convenience only and are not to serve as
a basis for interpretation or construction of this Agreement.

B-6

 

     5.8 Governing Law. The laws of the State of Delaware shall govern the
interpretation, validity, administration, enforcement and performance of the terms of this
Agreement regardless of the law that might be applied under principles of conflicts of laws.

     5.9 Conformity to Securities Laws. Participant acknowledges that the Plan and this
Agreement are intended to conform to the extent necessary with all provisions of the Securities
Act and the Exchange Act and any and all regulations and rules promulgated by the Securities and
Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding
anything herein to the contrary, the Plan shall be administered, and the Option is granted and may
be exercised, only in such a manner as to conform to such laws, rules and regulations. To the
extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the
extent necessary to conform to such laws, rules and regulations.

     5.10 Amendments, Suspension and Termination. To the extent permitted by the Plan,
this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated
at any time or from time to time by the Committee or the Board; provided that, except as may
otherwise be provided by the Plan, no amendment, modification, suspension or termination of this
Agreement shall adversely affect the Option in any material way without the prior written consent
of Participant.

     5.11 Successors and Assigns. The Company and the Partnership may assign any of their
rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the
benefit of the successors and assigns of the Company and the Partnership. Subject to the
restrictions on transfer herein set forth in Section 5.3 hereof, this Agreement shall be binding
upon Participant and his or her heirs, executors, administrators, successors and assigns.

     5.12 Intentionally Omitted.

     5.13 Limitations Applicable to Section 16 Persons. Notwithstanding any other
provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange
Act, the Plan, the Option and this Agreement shall be subject to any additional limitations set
forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any
amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such
exemptive rule. To the extent permitted by applicable law, this Agreement shall be deemed amended
to the extent necessary to conform to such applicable exemptive rule.

     5.14 Entire Agreement. The Plan, the Grant Notice and this Agreement (including all
Exhibits thereto) constitute the entire agreement of the parties and supersede in their entirety
all prior undertakings and agreements of the Company, the Partnership and Participant with respect
to the subject matter hereof.

     5.15 Section 409A. This Option is not intended to constitute “nonqualified deferred
compensation” within the meaning of Section 409A of the Code (together with any Department of
Treasury regulations and other interpretive guidance issued thereunder, including without
limitation any such regulations or other guidance that may be issued after the date hereof,
“Section 409A”). However, notwithstanding any other provision of the Plan, the Grant Notice or
this Agreement, if at any time the Administrator determines that the Option (or any portion
thereof) may be subject to Section 409A, the Administrator shall have the right in its sole
discretion (without any obligation to do so or to indemnify Participant or any other person for
failure to do so) to adopt such amendments to the Plan, the Grant Notice or this Agreement, or
adopt other policies and procedures (including amendments, policies and procedures with
retroactive effect), or take any other actions, as the Administrator determines are

B-7

 

necessary or appropriate either for the Option to be exempt from the application of Section
409A or to comply with the requirements of Section 409A.

     5.16 Limitation on Participant’s Rights. Participation in the Plan confers no rights
or interests other than as herein provided. This Agreement creates only a contractual obligation
on the part of the Company and the Partnership as to amounts payable and shall not be construed as
creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets.
Participant shall have only the rights of a general unsecured creditor of the Company or the
Partnership with respect to amounts credited and benefits payable, if any, with respect to the
Option, and rights no greater than the right to receive the Stock as a general unsecured creditor
with respect to options, as and when exercised pursuant to the terms hereof.

B-8

 

EXHIBIT D

Form of Restricted Stock Agreement

 

 

CORESITE REALTY CORPORATION AND CORESITE, L.P.

2010 EQUITY INCENTIVE AWARD PLAN

RESTRICTED STOCK AWARD GRANT NOTICE AND

RESTRICTED STOCK AWARD AGREEMENT

     CoreSite Realty Corporation, a Maryland corporation (the “Company”), pursuant to the CoreSite
Realty Corporation and CoreSite, L.P. 2010 Equity Incentive Award Plan (the “Plan”), hereby grants
to the individual listed below (“Participant”) the number of shares of the Company’s Stock (the
“Shares”) set forth below. This Restricted Stock award is subject to all of the terms and
conditions as set forth herein and in the Restricted Stock Award Agreement attached hereto as
Exhibit A (the “Restricted Stock Agreement”) and the Plan, which are incorporated herein by
reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same
defined meanings in this Grant Notice and the Restricted Stock Agreement.

	 	 	 

	Participant:

	 	Thomas Ray
	 
	 	 
	Grant Date:

	 	[                    ]
	 
	 	 
	Total Number of Shares of Restricted
Stock:

	 	[                    ]
	 
	 	 
	Vesting Schedule:

	 	The Shares will vest in four equal
annual installments, with the first
such installment vesting on the
one-year anniversary of the Grant
Date and the last such installment
vesting on the four-year anniversary
of the Grant Date, in each case
subject to the Participant’s
continued employment with or service
to the Company on each applicable
vesting date.

     By his or her signature and the Company’s and the Partnership’s signature below, Participant
agrees to be bound by the terms and conditions of the Plan, the Restricted Stock Agreement and this
Grant Notice. Participant has reviewed the Restricted Stock Agreement, the Plan and this Grant
Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing
this Grant Notice and fully understands all provisions of this Grant Notice, the Restricted Stock
Agreement and the Plan. Participant hereby agrees to accept as binding, conclusive and final all
decisions or interpretations of the Administrator of the Plan upon any questions arising under the
Plan, this Grant Notice or the Restricted Stock Agreement.

	 	 	 	 	 	 	 	 	 

	CORESITE REALTY CORPORATION:
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:
	 	Thomas Ray
	 

	 	 
	 	 	 	 	 	 
	Print Name:

	 	 	 	 	 	Print Name:	 	 
	 

	 	 
	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Address:

	 	 	 	 	 	Address:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	CORESITE L.P.:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Print Name:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Title:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	Address:
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 

 

 

EXHIBIT A

TO RESTRICTED STOCK AWARD GRANT NOTICE

RESTRICTED STOCK AWARD AGREEMENT

     Pursuant to the Restricted Stock Award Grant Notice (“Grant Notice”) to which this Restricted
Stock Award Agreement (this “Agreement”) is attached, CoreSite Realty Corporation, a Maryland
corporation (the “Company”), has granted to Participant the number of shares of Restricted Stock
under the CoreSite Realty Corporation and CoreSite, L.P. 2010 Equity Incentive Award Plan (the
"Plan”) indicated in the Grant Notice. The Shares are subject to the terms and conditions of the
Plan which are incorporated herein by reference. Capitalized terms not specifically defined herein
shall have the meanings specified in the Plan and the Grant Notice.

ARTICLE I

ISSUANCE OF SHARES

     1.1 Issuance of Shares. Pursuant to the Plan and subject to the terms and conditions
of this Agreement, effective on the Grant Date, the Company irrevocably grants to Participant the
number of shares of Stock set forth in the Grant Notice (the “Shares”), in consideration of
Participant’s agreement to remain in the service or employ of the Company, the Partnership or one
of their Subsidiaries, and for other good and valuable consideration.

     1.2 Issuance Mechanics. On the Grant Date, the Company shall issue the Shares to
Participant and shall (a) cause a stock certificate or certificates representing the Shares to be
registered in the name of Participant, or (b) cause such Shares to be held in book entry form. If
a stock certificate is issued, it shall be delivered to and held in custody by the Company and
shall bear the restrictive legends required by Section 4.1 below. If the Shares are held in book
entry form, then such entry will reflect that the Shares are subject to the restrictions of this
Agreement. Participant’s execution of a stock assignment in the form attached as Exhibit B
to the Grant Notice (the “Stock Assignment”) shall be a condition to the issuance of the Shares.

ARTICLE II

FORFEITURE AND TRANSFER RESTRICTIONS

     2.1 Forfeiture Restriction. Subject to the provisions of Section 2.2 below, in the
event of Participant’s Termination of Service for any reason, including as a result of
Participant’s death or Disability, all of the Unreleased Shares (as defined below) shall thereupon
be forfeited immediately and without any further action by the Company (the “Forfeiture
Restriction”), except as otherwise provided in that certain Employment Agreement between the
Participant and CoreSite, LLC, dated as of August 1, 2010 (including Section 4(d) thereof), as such
agreement may be amended or replaced from time to time (the “Employment Agreement”), or any other
written agreement between the Company, the Partnership and the Participant. Upon the occurrence of
such a forfeiture, the Company shall become the legal and beneficial owner of the Unreleased Shares
and all rights and interests therein or relating thereto, and the Company shall have the right to
retain and transfer to its own name the number of Unreleased Shares being forfeited by Participant.
The Unreleased Shares and Participant’s executed stock assignment in the form attached as
Exhibit B to the Grant Notice shall be held by the Company in accordance with Section 2.4
until the Shares are forfeited as provided in this Section 2.1, until such Unreleased Shares are
fully released from the Forfeiture Restriction, or until

A-1

 

such time as this Agreement no longer is in effect. Participant hereby authorizes and directs
the Secretary of the Company, or such other person designated by the Committee, to transfer the
Unreleased Shares which have been forfeited pursuant to this Section 2.1 from Participant to the
Company.

     2.2 Release of Shares from Forfeiture Restriction. The Shares shall be released from
the Forfeiture Restriction in accordance with the vesting schedule set forth in the Grant Notice.
In addition, the Participant shall be entitled to accelerated vesting of the Shares in certain
circumstances, as set forth in the Employment Agreement. Any of the Shares which, from time to
time, have not yet been released from the Forfeiture Restriction are referred to herein as
“Unreleased Shares.” In the event any of the Shares are released from the Forfeiture Restriction,
any dividends or other distributions paid on such Shares and held by the Company pursuant to
Section 2.4 shall be promptly paid by the Company to Participant. As soon as administratively
practicable following the release of any Shares from the Forfeiture Restriction, the Company shall,
as applicable, either deliver to Participant the certificate or certificates representing such
Shares in the Company’s possession belonging to Participant, or, if the Shares are held in book
entry form, then the Company shall remove the notations on the book form. Participant (or the
beneficiary or personal representative of Participant in the event of Participant’s death or
incapacity, as the case may be) shall deliver to the Company any representations or other documents
or assurances as the Company or its representatives deem necessary or advisable in connection with
any such delivery.

     2.3 Transfer Restriction. No Unreleased Shares or any interest or right therein or
part thereof shall be liable for the debts, contracts or engagements of the Participant or his
successors in interest or shall be subject to disposition by transfer, alienation, anticipation,
pledge, encumbrance, assignment or any other means whether such disposition be voluntary or
involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or
equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null
and void and of no effect.

     2.4 Escrow. The Unreleased Shares and Participant’s executed Stock Assignment shall
be held by the Company until the Shares are forfeited as provided in Section 2.1, until such
Unreleased Shares are fully released from the Forfeiture Restriction, or until such time as this
Agreement no longer is in effect. In such event, Participant shall not retain physical custody of
any certificates representing Unreleased Shares issued to Participant. Participant, by acceptance
of this Award, shall be deemed to appoint, and does so appoint, the Company and each of its
authorized representatives as Participant’s attorney(s)-in-fact to effect any transfer of forfeited
Unreleased Shares (and any dividends or other distributions paid on such Shares) to the Company as
may be required pursuant to the Plan or this Agreement, and to execute such representations or
other documents or assurances as the Company or such representatives deem necessary or advisable in
connection with any such transfer. The Company, or its designee, shall not be liable for any act
it may do or omit to do with respect to holding the Shares in escrow and while acting in good faith
and in the exercise of its judgment.

     2.5 Rights as Stockholder. Except as otherwise provided herein, upon issuance of the
Shares by the Company, Participant shall have all the rights of a stockholder with respect to said
Shares, subject to the restrictions herein, including the right to vote the Shares and to receive
all dividends or other distributions paid or made with respect to the Shares, provided, however,
that the Participant shall not be entitled to receive any dividends with respect to any Shares that
are unvested as of the date of payment of such dividends unless and until such shares become vested
in accordance with Sections 2.1 and 2.2. Any dividends with respect to such unvested Shares shall
be forfeited to the Company in the event such Shares are forfeited.

A-2

 

ARTICLE III

TAXATION AND TAX WITHHOLDING

     3.1 Representation. Participant represents to the Company and the Partnership that
Participant has reviewed with his or her own tax advisors the federal, state, local and foreign tax
consequences of this investment and the transactions contemplated by this Agreement. Participant
is relying solely on such advisors and not on any statements or representations of the Company or
any of its agents. Participant understands that Participant (and not the Company) shall be
responsible for his or her own tax liability that may arise as a result of this investment or the
transactions contemplated by this Agreement.

     3.2 No 83(b) Election. Participant covenants that he or she will not make an election
under Section 83(b) of the Code with respect to the receipt of any of the Shares without the
consent of the Administrator, which the Administrator may grant or withhold in its sole discretion.

     3.3 Tax Withholding. Notwithstanding any other provision of this Agreement:

          (a) The Company and the Partnership have the authority to deduct or withhold, or require
Participant to remit to the Company or the Partnership, an amount sufficient to satisfy applicable
federal, state, local and foreign taxes (including any FICA obligation) required by law to be
withheld with respect to any taxable event arising pursuant to this Agreement. The Company may
permit Participant to make such payment in one or more of the forms specified below:

               (i) by cash or check made payable to the Company or the Partnership;

               (ii) by the deduction of such amount from other compensation payable to Participant;

               (iii) with respect to any withholding taxes arising as a result of the vesting of the Shares,
by requesting that the Company, the Partnership or one of their subsidiaries withhold a net number
of vested Shares having a then current Fair Market Value not exceeding the amount necessary to
satisfy the withholding obligation of the Company, the Partnership and their subsidiaries based on
the minimum applicable statutory withholding rates for federal, state, local and foreign income tax
and payroll tax purposes;

               (iv) with respect to any withholding taxes arising as a result of the vesting of the Shares,
by tendering vested shares of Stock having a then current Fair Market Value not exceeding the
amount necessary to satisfy the withholding obligation of the Company, the Partnership and their
subsidiaries based on the minimum applicable statutory withholding rates for federal, state, local
and foreign income tax and payroll tax purposes; or

               (v) in any combination of the foregoing.

          (b) With respect to any withholding taxes arising as a result of the vesting of the Shares, in
the event Participant fails to provide timely payment of all sums required pursuant to Section
3.3(a), the Company shall have the right and option, but not the obligation, to treat such failure
as an election by Participant to satisfy all or any portion of Participant’s required payment
obligation pursuant to Section 3.3(a)(ii) or Section 3.3(a)(iii) above, or any combination of the
foregoing as the Company may determine to be appropriate. The Company or the Partnership shall not
be obligated to deliver any certificate representing shares of Stock issuable with respect to the
Shares to Participant or his or her legal representative unless and until Participant or his or her
legal representative shall have paid or otherwise satisfied in full the

A-3

 

amount of all federal, state, local and foreign taxes applicable with respect to the taxable income of
Participant resulting from the vesting of this Award or any other taxable event related to the
Shares.

     (c) In the event Participant’s tax withholding obligation will be satisfied under Section
3.3(a)(iii) above, then the Company or the Partnership may elect to instruct any brokerage firm
determined acceptable to the Company or the Partnership for such purpose to sell on Participant’s
behalf a whole number of shares from those Shares that are then becoming vested as the Company
determines to be appropriate to generate cash proceeds sufficient to satisfy Participant’s tax
withholding obligation. Participant’s acceptance of this Award constitutes Participant’s
instruction and authorization to the Company, the Partnership and such brokerage firm to complete
the transactions described above, including the transactions described in the previous sentence, as
applicable. Any shares of Stock to be sold at the Company’s direction through a broker-assisted
sale will be sold on the day the tax withholding obligation arises (i.e., the date the Shares vest)
or as soon thereafter as practicable. The shares of Stock may be sold as part of a block trade
with other participants of the Plan in which all participants receive an average price.
Participant will be responsible for all broker’s fees and other costs of sale, and Participant
agrees to indemnify and hold the Company and the Partnership harmless from any losses, costs,
damages, or expenses relating to any such sale. To the extent the proceeds of such sale exceed
Participant’s tax withholding obligation, the Company agrees to pay such excess in cash to
Participant as soon as practicable. Participant acknowledges that the Company, the Partnership or
its designee is under no obligation to arrange for such sale at any particular price, and that the
proceeds of any such sale may not be sufficient to satisfy Participant’s tax withholding
obligation. The Company may refuse to issue any shares of Stock to Participant until the foregoing
tax withholding obligations are satisfied.

ARTICLE IV

RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS

     4.1 Legends. The certificate or certificates representing the Shares, if any, shall
bear the following legend (as well as any legends required by the Company’s charter and applicable
state and federal corporate and securities laws):

THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO FORFEITURE
IN FAVOR OF THE COMPANY AND MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH
THE TERMS OF A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY
AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF
THE COMPANY.

     4.2 Refusal to Transfer; Stop-Transfer Notices. The Company shall not be required (a)
to transfer on its books any Shares that have been sold or otherwise transferred in violation of
any of the provisions of this Agreement or (b) to treat as owner of such Shares or to accord the
right to vote or pay dividends to any purchaser or other transferee to whom such Shares shall have
been so transferred. Participant agrees that, in order to ensure compliance with the restrictions
referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer
agent, if any, and that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its own records.

     4.3 Removal of Legend. After such time as the Forfeiture Restriction shall have
lapsed with respect to the Shares, and upon Participant’s request, a new certificate or
certificates representing such Shares shall be issued without the legend referred to in Section
4.1, and delivered to Participant. If the Shares are held in book entry form, the Company shall
cause any restrictions noted on the book form to be removed.

A-4

 

ARTICLE V

MISCELLANEOUS

     5.1 Governing Law. This Agreement and all acts and transactions pursuant hereto and
the rights and obligations of the parties hereto shall be governed, construed and interpreted in
accordance with the laws of the State of Delaware, without giving effect to principles of conflicts
of law.

     5.2 Entire Agreement; Enforcement of Rights. This Agreement and the Plan set forth
the entire agreement and understanding of the parties relating to the subject matter herein and
merge all prior discussions between them. No modification of or amendment to this Agreement, nor
any waiver of any rights under this Agreement, shall be effective unless in writing signed by the
parties to this Agreement.

     5.3 Severability. If one or more provisions of this Agreement are held to be
unenforceable under applicable law, the parties agree to renegotiate such provision in good faith.
In the event that the parties cannot reach a mutually agreeable and enforceable replacement for
such provision, then (a) such provision shall be excluded from this Agreement, (b) the balance of
the Agreement shall be interpreted as if such provision were so excluded and (c) the balance of the
Agreement shall be enforceable in accordance with its terms.

     5.4 Notices. Any notice required or permitted by this Agreement shall be in writing
and shall be deemed sufficient when delivered personally or sent by electronic mail (with return
receipt requested and received) or fax or forty-eight (48) hours after being deposited in the U.S.
mail, as certified or registered mail, with postage prepaid, and addressed to the party to be
notified, if to the Company or the Partnership, at the Company’s principal offices, and if to
Participant, at Participant’s address, electronic mail address or fax number in the Company’s or
the Partnership’s employee records or as subsequently modified by written notice.

     5.5 Counterparts. This Agreement may be executed in two or more counterparts, each of
which shall be deemed an original and all of which together shall constitute one instrument.

     5.6 Successors and Assigns. The rights and benefits of this Agreement shall inure to
the benefit of, and be enforceable by the Company’s and the Partnership’s successors and assigns.
The Company and the Partnership may assign their rights under this Agreement to any successor
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company or the Partnership without the prior
written consent of Participant. The rights and obligations of Participant under this Agreement may
only be assigned with the prior written consent of the Company.

     5.7 Conformity to Securities Laws. Participant acknowledges that the Plan is intended
to conform to the extent necessary with all provisions of the Securities Act and the Exchange Act
and any and all regulations and rules promulgated by the Securities and Exchange Commission
thereunder, and state securities laws and regulations. Notwithstanding anything herein to the
contrary, the Plan shall be administered, and the Shares are to be issued, only in such a manner as
to conform to such laws, rules and regulations. To the extent permitted by applicable law, the
Plan and this Agreement shall be deemed amended to the extent necessary to conform to such laws,
rules and regulations.

     5.8 NO RIGHT TO CONTINUED SERVICE. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE
LAPSING OF THE FORFEITURE RESTRICTION PURSUANT TO SECTION 2.1 HEREOF IS EARNED ONLY BY CONTINUING
SERVICE TO THE COMPANY, THE PARTNERSHIP OR ONE OF THEIR SUBSIDIARIES AS AN “AT WILL” EMPLOYEE OR
CONSULTANT OF THE COMPANY, THE PARTNERSHIP OR ONE OF THEIR SUBSIDIARIES OR AN INDEPENDENT DIRECTOR
OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED OR

A-5

 

ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS
AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE FORFEITURE RESTRICTION SCHEDULE SET
FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN
EMPLOYEE, CONSULTANT OR INDEPENDENT DIRECTOR FOR SUCH PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL
NOT INTERFERE WITH THE COMPANY’S, THE PARTNERSHIP’S OR ANY OF THEIR SUBSIDIARIES’ RIGHT TO
TERMINATE THE PARTICIPANT’S EMPLOYMENT OR SERVICE TO THE COMPANY AT ANY TIME, WITH OR WITHOUT
CAUSE.

A-6

 

EXHIBIT B

TO RESTRICTED STOCK AWARD GRANT NOTICE

STOCK ASSIGNMENT

     FOR VALUE RECEIVED, the undersigned, [NAME OF PARTICIPANT], hereby sells, assigns and
transfers unto CORESITE REALTY CORPORATION, a Maryland corporation,                      shares of the Common
Stock of CORESITE REALTY CORPORATION, a Maryland corporation, standing in its name of the books of
said corporation represented by Certificate No.                      herewith and do hereby irrevocably constitute
and appoint                                          to transfer the said stock on the books of the within named
corporation with full power of substitution in the premises.

     This Stock Assignment may be used only in accordance with the Restricted Stock Award Grant
Notice and Restricted Stock Award Agreement between CORESITE REALTY CORPORATION and the undersigned
dated [DATE].

	 	 	 
	 
	Dated:                                         ,                     

	 	                                                            
	 

	 	[NAME OF PARTICIPANT]

INSTRUCTIONS: Please do not fill in the blanks other than the signature line. The purpose of this
assignment is to enable the Company to enforce the Forfeiture Restriction as set forth in the Stock
Award Grant Notice and Restricted Stock Award Agreement, without requiring additional signatures on
the part of the stockholder.

B-1ex4-1.htm

EXHIBIT 4.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASEY’S GENERAL STORES, INC.

 

 

$569,000,000

5.22% Senior Notes

due August 9, 2020

 

 

NOTE PURCHASE AGREEMENT

 

 

Dated as of August 9, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PPN: 147528 E@8

 

 

 

 

  

  

  

 

TABLE OF CONTENTS

 

 

	  	  	
Page

	  	  	  
	
1.

	
AUTHORIZATION OF NOTES

	
1

	  	  	  
	
2.

	
SALE AND PURCHASE OF NOTES

	
1

	  	  	  
	
3.

	
CLOSING

	
1

	  	  	  
	
4.

	
CONDITIONS TO CLOSING

	
2

	  	  	  
	
4.1.

	
Representations and Warranties

	
2

	
4.2.

	
Performance; No Default

	
2

	
4.3.

	
Compliance Certificates

	
2

	
4.4.

	
Opinions of Counsel

	
2

	
4.5.

	
Purchase Permitted By Applicable Law, Etc.

	
3

	
4.6.

	
Sale of Other Notes

	
3

	
4.7.

	
Payment of Fees

	
3

	
4.8.

	
Private Placement Number

	
3

	
4.9.

	
Changes in Corporate Structure

	
3

	
4.10.

	
Solvency Certificate

	
3

	
4.11.

	
Funding Instructions

	
4

	
4.12.

	
Proceedings and Documents

	
4

	  	  	  
	
5.

	
REPRESENTATIONS AND WARRANTIES OF THE COMPANY

	
4

	  	  	  
	
5.1.

	
Organization; Power and Authority

	
4

	
5.2.

	
Authorization, Etc.

	
4

	
5.3.

	
Disclosure

	
5

	
5.4.

	
Organization and Ownership of Shares of Subsidiaries; Affiliates

	
5

	
5.5.

	
Financial Statements; Material Liabilities

	
5

	
5.6.

	
Compliance with Laws, Other Instruments, Etc.

	
6

	
5.7.

	
Governmental Authorizations, Etc.

	
6

	
5.8.

	
Litigation; Observance of Agreements, Statutes and Orders

	
6

	
5.9.

	
Taxes

	
7

	
5.10.

	
Title to Property; Leases

	
7

	
5.11.

	
Licenses, Permits, Etc.

	
7

	
5.12.

	
Compliance with ERISA

	
7

	
5.13.

	
Private Offering by the Company

	
8

	
5.14.

	
Use of Proceeds; Margin Regulations

	
8

	
5.15.

	
Existing Indebtedness

	
9

	
5.16.

	
Foreign Assets Control Regulations, Etc.

	
9

	
5.17.

	
Status under Certain Statutes

	
10

	
5.18.

	
Environmental Matters

	
10

	
5.19.

	
Solvency

	
10

 

 

 

 

  

-i-

  

 

 

	  	  	  
	
6.

	
REPRESENTATIONS OF THE PURCHASER

	
11

	  	  	  
	
6.1.

	
Purchase for Investment

	
11

	
6.2.

	
Source of Funds

	
11

	  	  	  
	
7.

	
INFORMATION AS TO COMPANY

	
12

	  	  	  
	
7.1.

	
Financial and Business Information

	
12

	
7.2.

	
Officer’s Certificate

	
15

	
7.3.

	
Visitation

	
15

	  	  	  
	
8.

	
PREPAYMENT OF THE NOTES

	
16

	  	  	  
	
8.1.

	
Maturity

	
16

	
8.2.

	
Optional Prepayments with Make-Whole Amount

	
16

	
8.3.

	
Allocation of Partial Prepayments

	
16

	
8.4.

	
Maturity; Surrender, Etc.

	
17

	
8.5.

	
Purchase of Notes

	
17

	
8.6.

	
Make-Whole Amount

	
17

	
8.7.

	
Change of Control

	
19

	
8.8.

	
Offer to Prepay Notes upon Certain Sales of Assets

	
21

	  	  	  
	
9.

	
AFFIRMATIVE COVENANTS

	
22

	  	  	  
	
9.1.

	
Compliance with Law

	
22

	
9.2.

	
Insurance

	
22

	
9.3.

	
Maintenance of Properties

	
22

	
9.4.

	
Payment of Taxes and Claims

	
23

	
9.5.

	
Corporate Existence, Etc.

	
23

	
9.6.

	
Books and Records

	
23

	
9.7.

	
Subsequent Guarantors

	
23

	
9.8.

	
Covenant to Secure Notes Equally

	
24

	  	  	  
	
10.

	
NEGATIVE COVENANTS

	
24

	  	  	  
	
10.1.

	
Financial Covenants

	
24

	
10.2.

	
Priority Debt

	
25

	
10.3.

	
Indebtedness of Subsidiaries

	
25

	
10.4.

	
Limitations on Liens

	
26

	
10.5.

	
Merger, Consolidation, Etc.

	
27

	
10.6.

	
Sale of Assets

	
28

	
10.7.

	
Terrorism Sanctions Regulations

	
29

	
10.8.

	
Nature of Business

	
29

	
10.9.

	
Transactions with Affiliates

	
29

	  	  	  
	
11.

	
EVENTS OF DEFAULT

	
30

	  	  	  
	
12.

	
REMEDIES ON DEFAULT, ETC.

	
32

	  	  	  
	
12.1.

	
Acceleration

	
32

	
12.2.

	
Other Remedies

	
33

	
12.3.

	
Rescission

	
33

	
12.4.

	
No Waivers or Election of Remedies, Expenses, Etc.

	
33

 

 

 

 

 

  

-ii-

  

 

 

 

	  	  	  
	
13.

	
REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES

	
33

	  	  	  
	
13.1.

	
Registration of Notes

	
33

	
13.2.

	
Transfer and Exchange of Notes

	
34

	
13.3.

	
Replacement of Notes

	
34

 

	
14.

	
PAYMENTS ON NOTES

	
35

 

	
14.1.

	
Place of Payment

	
35

	
14.2.

	
Home Office Payment

	
35

 

	
15.

	
EXPENSES, ETC.

	
35

 

	
15.1.

	
Transaction Expenses

	
35

	
15.2.

	
Survival

	
37

 

	
16.

	
SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT

	
37

 

 

	
17.

	
AMENDMENT AND WAIVER

	
37

 

	
17.1.

	
Requirements

	
37

	
17.2.

	
Solicitation of Holders of Notes

	
38

	
17.3.

	
Binding Effect, Etc.

	
38

	
17.4.

	
Notes held by Company, Etc.

	
39

 

	
18.

	
NOTICES

	
39

 

	
19.

	
REPRODUCTION OF DOCUMENTS

	
39

 

	
20.

	
CONFIDENTIAL INFORMATION

	
40

 

	
21.

	
SUBSTITUTION OF PURCHASER

	
41

 

	
22.

	
MISCELLANEOUS

	
41

 

	
22.1.

	
Successors and Assigns

	
41

	
22.2.

	
Payments Due on Non-Business Days

	
41

	
22.3.

	
Accounting Terms

	
41

	
22.4.

	
Severability

	
42

	
22.5.

	
Construction, Etc.

	
42

	
22.6.

	
Counterparts

	
42

	
22.7.

	
Governing Law

	
42

	
22.8.

	
Jurisdiction

	
42

 

 

 

  

-iii-

  

 

 

 

 

CASEY’S GENERAL STORES, INC.

One Convenience Boulevard

Ankeny, Iowa 50021

(515) 965-6100

Fax: (515) 965-6160

 

$569,000,000 5.22% Senior Notes due August 9, 2020

 

 

Dated as of August 9, 2010

 

TO EACH OF THE PURCHASERS LISTED IN THE ATTACHED SCHEDULE A:

 

Ladies and Gentlemen:

 

CASEY’S GENERAL STORES, INC., an Iowa corporation (the “Company”), agrees with each of the purchasers whose names appear at the end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows:

 

	
1.

	
AUTHORIZATION OF NOTES.

 

The Company has authorized the issue and sale of $569,000,000 aggregate principal amount of its 5.22% Senior Notes due August 9, 2020 (the “Notes”, such term to include any such notes issued in substitution therefor pursuant to Section 13 of this Agreement).  The Notes will be substantially in the form set out in Exhibit 1, with such changes therefrom, if any, as may be approved by you and the Company.  Certain capitalized and other terms used in this Agreement are defined in Schedule B; references to a “Schedule” or an “Exhibit” are, unless otherwise specified, to a Schedule or an Exhibit attached to this Agreement.

 

	
2.

	
SALE AND PURCHASE OF NOTES.

 

Subject to the terms and conditions of this Agreement, the Company will issue and sell to each Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount specified opposite such Purchaser’s name in Schedule A at the purchase price of 100% of the principal amount thereof.  The Purchasers’ obligations hereunder are several and not joint obligations and no Purchaser shall have any liability to any Person for the performance or non-performance of any obligation by any other Purchaser hereunder.

 

	
3.

	
CLOSING.

 

The sale and purchase of the Notes shall occur at the offices of Schiff Hardin LLP, 233 South Wacker Drive, Suite 6600, Chicago, Illinois 60606 at 9:00 a.m., Chicago time, at a closing on August 9, 2010 (the “Closing”) or on such other Business Day thereafter, not later than August 30, 2010, as may be agreed upon by the Company and the Purchasers.  At the Closing the Company will deliver to each Purchaser the Notes to be purchased by such Purchaser in the form of a single Note (or such greater number of Notes in denominations of at least $250,000 as you may request) dated the date of the Closing and registered in such Purchaser’s name (or in the name of its nominee), against delivery by such Purchaser to the Company or its order of immediately available funds in the amount of the purchase price therefor by wire transfer of immediately available funds for the account of the Company to account number 9870527502 at UMB Bank, n.a., Kansas City, Missouri, ABA No. 101000695.  If at the Closing the Company shall fail to tender such Notes to any Purchaser as provided above in this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under this Agreement, without thereby waiving any rights such Purchaser may have by reason of such failure or such nonfulfillment.

 

 

 

  

  

  

 

 

 

 

	
4.

	
CONDITIONS TO CLOSING.

 

Each Purchaser’s obligation to purchase and pay for the Notes to be sold to such Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to or at the Closing, of the following conditions:

 

	
4.1.

	
Representations and Warranties.

 

The representations and warranties of the Company in this Agreement shall be correct when made and at the time of the Closing.

 

	
4.2.

	
Performance; No Default.

 

The Company shall have performed and complied with all agreements and conditions contained in this Agreement required to be performed or complied with by it prior to or at the Closing and after giving effect to the issue and sale of the Notes to be sold at the Closing (and the application of the proceeds thereof as contemplated by Section 5.14) no Default or Event of Default shall have occurred and be continuing.

 

	
4.3.

	
Compliance Certificates.

 

(a)           Officer’s Certificate.  The Company shall have delivered to such Purchaser an Officer’s Certificate, dated the date of the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.

 

(b)           Secretary’s Certificate.  The Company shall have delivered to such Purchaser a certificate of its Secretary or Assistant Secretary, dated the date of the Closing certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of the Notes and this Agreement.

 

	
4.4.

	
Opinions of Counsel.

 

Such Purchaser shall have received opinions in form and substance satisfactory to such Purchaser, dated the date of the Closing (a) from Ahlers & Cooney, P.C., counsel for the Company, covering the matters set forth in Exhibit 4.4(a) and covering such other matters incident to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request (and the Company instructs its counsel to deliver such opinion to the Purchasers) and (b) from Schiff Hardin LLP, the Purchasers’ special counsel in connection with such transactions, substantially in the form set forth in Exhibit 4.4(b) and covering such other matters incident to such transactions as such Purchaser may reasonably request.

 

 

 

 

  

2

  

 

 

 

 

 

	
4.5.

	
Purchase Permitted By Applicable Law, Etc.

 

On the date of the Closing such Purchaser’s purchase of Notes shall (a) be permitted by the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse to provisions (such as Section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the particular investment, (b) not violate any applicable law or regulation (including, without limitation, Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or regulation, which law or regulation was not in effect on the date hereof.  If requested by such Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such matters of fact as such Purchaser may reasonably specify to enable you to determine whether such purchase is so permitted.

 

	
4.6.

	
Sale of Other Notes.

 

Contemporaneously with the Closing, the Company shall sell to each other Purchaser and each other Purchaser shall purchase the Notes to be purchased by it at the Closing as specified in Schedule A.

 

	
4.7.

	
Payment of Fees.

 

Without limiting the provisions of Section 15.1, the Company shall have paid on or before the Closing the fees, charges and disbursements of the Purchasers’ special counsel referred to in Section 4.4 to the extent reflected in a statement of such counsel rendered to the Company on the date of Closing.

 

	
4.8.

	
Private Placement Number.

 

A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation with the SVO) shall have been obtained for the Notes by Schiff Hardin LLP.

 

	
4.9.

	
Changes in Corporate Structure.

 

The Company shall not have changed its jurisdiction of incorporation or organization, as applicable, or been a party to any merger or consolidation or succeeded to all or any substantial part of the liabilities of any other entity, at any time following the date of the most recent financial statements referred to in Schedule 5.5.

 

	
4.10. 

	
Solvency Certificate.

 

Such Purchaser shall have received a certificate executed by the chief financial officer of the Company, in form and substance satisfactory to such Purchaser, to the effect that on and as of the date of Closing, after consummation of the transactions contemplated by this Agreement, including the issuance of the Notes and the use of the proceeds thereof and the consummation of the Recapitalization Transaction, the Company will be Solvent.

 

 

 

 

 

  

3

  

 

 

 

 

 

 

	
4.11. 

	
Funding Instructions.

 

At least one Business Days prior to the date of the Closing, each Purchaser shall have received written instructions signed by a Responsible Officer on letterhead of the Company confirming the information specified in Section 3 including (a) the name and address of the transferee bank, (b) such transferee bank’s ABA number and (c) the account name and number into which the purchase price for the Notes is to be deposited.

 

	
4.12.

	
Proceedings and Documents.

 

All corporate and other proceedings in connection with the transactions contemplated by this Agreement and all documents and instruments incident to such transactions shall be satisfactory to such Purchaser and its special counsel, and such Purchaser and its special counsel shall have received all such counterpart originals or certified or other copies of such documents as such Purchaser or such special counsel may reasonably request.

 

	
5.

	
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The Company represents and warrants to each Purchaser that:

 

	
5.1.

	
Organization; Power and Authority.

 

The Company is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation, and is duly qualified as a foreign corporation and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  The Company has the corporate power and authority to own or hold under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Agreement and the Notes and to perform the provisions hereof and thereof.

 

	
5.2.

	
Authorization, Etc.

 

This Agreement and the Notes have been duly authorized by all necessary corporate action on the part of the Company, and this Agreement constitutes, and upon execution and delivery thereof each Note will constitute, a legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

 

 

 

 

  

4

  

 

 

 

 

	
5.3.

	
Disclosure.

 

The Company has delivered to each Purchaser a copy of the Confidential Private Placement Memorandum, dated August 5, 2010 (the “Memorandum”).  This Agreement, the Memorandum, the documents, certificates or other writings delivered to the Purchasers by or on behalf of the Company in connection with the transactions contemplated hereby and identified in Schedule 5.3, the financial statements listed in Schedule 5.5 and the Tender Offer Documents (this Agreement, the Memorandum, such documents, certificates or other writings, such financial statements delivered to each Purchaser prior to the date of the Closing and the Tender Offer Documents, being referred to, collectively, as the “Disclosure Documents”), taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading in light of the circumstances under which they were made.  Except as disclosed in the Disclosure Documents, since April 30, 2010, there has been no change in the financial condition, operations, business or properties of the Company or any of its Subsidiaries except changes that individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect.

 

	
5.4.

	
Organization and Ownership of Shares of Subsidiaries; Affiliates.

 

(a)           Schedule 5.4 is (except as noted therein) a complete and correct list of the Company’s Subsidiaries, showing, as to each Subsidiary, the correct name thereof, the jurisdiction of its organization, and the percentage of shares of each class of its capital stock or similar equity interests outstanding owned by the Company and each other Subsidiary.

 

(b)           All of the outstanding shares of capital stock or similar equity interests of each Subsidiary shown in Schedule 5.4 as being owned by the Company and its Subsidiaries have been validly issued, are fully paid and nonassessable and are owned by the Company or another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule 5.4).

 

(c)           Each Subsidiary identified in Schedule 5.4 is a corporation or other legal entity duly organized, validly existing and in good standing under the laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or other legal entity and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.  Each such Subsidiary has the corporate or other power and authority to own or hold under lease the properties it purports to own or hold under lease and to transact the business it transacts and proposes to transact.

 

	
5.5.

	
Financial Statements; Material Liabilities.

 

The Company has delivered to each Purchaser copies of the financial statements of the Company and its Subsidiaries listed on Schedule 5.5.  All of said financial statements (including in each case the related schedules and notes) fairly present in all material respects the consolidated financial position of the Company and its Subsidiaries as of the respective dates specified in such Schedule and the consolidated results of their operations and cash flows for the respective periods so specified and have been prepared in accordance with GAAP consistently applied throughout the periods involved except as set forth in the notes thereto (subject, in the case of any interim financial statements, to normal year-end adjustments).  Other than pursuant to this Agreement and the Notes, the Company and its Subsidiaries do not have any Material liabilities that are not disclosed on such financial statements or otherwise disclosed in the Disclosure Documents.

 

 

 

 

  

5

  

 

 

 

 

	
5.6.

	
Compliance with Laws, Other Instruments, Etc.

 

The execution, delivery and performance by the Company of this Agreement and the Notes will not (i) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Company or any Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or by-laws, or any other Material agreement or instrument to which the Company or any Subsidiary is bound or by which the Company or any Subsidiary or any of their respective properties may be bound or affected, (ii) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Company or any Subsidiary or (iii) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Company or any Subsidiary.

 

	
5.7.

	
Governmental Authorizations, Etc.

 

No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Company of this Agreement or the Notes.

 

	
5.8.

	
Litigation; Observance of Agreements, Statutes and Orders.

 

(a)           There are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company, threatened against or affecting the Company or any Subsidiary or any property of the Company or any Subsidiary in any court or before any arbitrator of any kind or before or by any Governmental Authority that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

(b)           Neither the Company nor any Subsidiary is in default under any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or is in violation of any applicable law, ordinance, rule or regulation (including without limitation Environmental Laws or the USA Patriot Act) of any Governmental Authority, which default or violation, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

 

(c)           Except as set forth on Schedule 5.8, there are no actions, suits, investigations or proceedings pending or, to the knowledge of the Company, directly or indirectly threatened against or directly or indirectly affecting the execution and delivery of this Agreement, the purchase of the Notes or the use of proceeds thereof in accordance with Section 5.14, the performance of this Agreement or the Notes or the Recapitalization Transaction.  To the knowledge of the Company, there have been no amendments to the filings identified on Schedule 5.8 since their respective dates.  No injunction or restraining order has been issued enjoining the execution and delivery of this Agreement, the purchase of the Notes or the use of proceeds thereof in accordance with Section 5.14, the performance of this Agreement or the Notes.

 

 

 

 

  

6

  

 

 

 

 

	
5.9.

	
Taxes.

 

The Company and its Subsidiaries have filed all income tax returns that are required to have been filed in any jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other taxes and assessments payable by them, to the extent such taxes and assessments have become due and payable and before they have become delinquent, except for any taxes and assessments (i) the amount of which is not individually or in the aggregate Material or (ii) the amount, applicability or validity of which is currently being contested in good faith by appropriate proceedings and with respect to which the Company or a Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP.  The Federal income tax liabilities of the Company and its Subsidiaries have been finally determined (whether by reason of completed audits or the statute of limitations having run) for all fiscal years up to and including the fiscal year ended April 30, 2006.

 

	
5.10.

	
Title to Property; Leases.

 

The Company and its Subsidiaries have good and sufficient title to their respective Material properties, including all such properties reflected in the most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by the Company or any Subsidiary after said date (except as sold or otherwise disposed of in the ordinary course of business), in each case free and clear of Liens prohibited by this Agreement, except for those defects in title and Liens that, individually or in the aggregate, would not have a Material Adverse Effect.  All Material leases are valid and subsisting and are in full force and effect in all material respects.

 

	
5.11.

	
Licenses, Permits, Etc.

 

The Company and its Subsidiaries own, possess or have the right to use all licenses, permits, franchises, authorizations, patents, copyrights, proprietary software, service marks, trademarks and trade names, or rights thereto, that are Material, without known conflict with the rights of others, except for those conflicts that, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect.

 

	
5.12.

	
Compliance with ERISA.

 

(a)           The Company and each ERISA Affiliate have operated and administered each Plan in compliance with all applicable laws except for such instances of noncompliance as have not resulted in and could not reasonably be expected to result in a Material Adverse Effect.  Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans (as defined in section 3 of ERISA), and no event, transaction or condition has occurred or exists that would reasonably be expected to result in the incurrence of any such liability by the Company or any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of ERISA or to such penalty or excise tax provisions or to section 401(a)(29) or 412 of the Code or section 4068 of ERISA, other than such liabilities or Liens as would not be individually or in the aggregate Material.

 

 

 

 

  

7

  

 

 

 

 

 

(b)           The present value of the aggregate benefit liabilities under each of the Plans (other than Multiemployer Plans), determined as of the end of such Plan’s most recently ended plan year on the basis of the actuarial assumptions specified for funding purposes in such Plan’s most recent actuarial valuation report, did not exceed the aggregate current value of the assets of such Plan allocable to such benefit liabilities.  The term “benefit liabilities” has the meaning specified in section 4001 of ERISA and the terms “current value” and “present value” have the meaning specified in section 3 of ERISA.

 

(c)           The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of Multiemployer Plans that individually or in the aggregate are Material.

 

(d)           The expected postretirement benefit obligation (determined as of the last day of the Company’s most recently ended fiscal year in accordance with Financial Accounting Standards Board Statement No. 106, without regard to liabilities attributable to continuation coverage mandated by section 4980B of the Code) of the Company and its Subsidiaries is not Material.

 

(e)           The execution and delivery of this Agreement and the issuance and sale of the Notes hereunder will not involve any transaction that is subject to the prohibitions of section 406 of ERISA or in connection with which a tax could be imposed pursuant to section 4975(c)(1)(A)-(D) of the Code.  The representation by the Company to each Purchaser in the first sentence of this Section 5.12(e) is made in reliance upon and subject to the accuracy of such Purchaser’s representation in Section 6.2 as to the sources of the funds used to pay the purchase price of the Notes to be purchased by such Purchaser.

 

	
5.13.

	
Private Offering by the Company.

 

Neither the Company nor anyone acting on its behalf has offered the Notes or any similar securities for sale to, or solicited any offer to buy any of the same from, or otherwise approached or negotiated in respect thereof with, any person other than the Purchasers and not more than five other Institutional Investors, each of which has been offered the Notes at a private sale for investment.  Neither the Company nor anyone acting on its behalf has taken, or will take, any action that would subject the issuance or sale of the Notes to the registration requirements of Section 5 of the Securities Act or to the registration requirements of any securities or blue sky laws of any applicable jurisdiction.

 

	
5.14.

	
Use of Proceeds; Margin Regulations.

 

The Company will apply the proceeds of the sale of the Notes as set forth in Schedule 5.14.  No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any securities under such circumstances as to involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220), provided that, the Company may use a portion of such proceeds to repurchase the common stock of the Company pursuant to the Tender Offer, all of which common stock will be retired upon consummation of such repurchase.  Margin stock does not constitute more than 1.0% of the value of the consolidated assets of the Company and its Subsidiaries and the Company does not have any present intention that margin stock will constitute more than 1.0% of the value of such assets.  As used in this Section, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U.

 

 

 

 

  

8

  

 

 

 

 

	
5.15.

	
Existing Indebtedness.

 

(a)           Except as described therein, Schedule 5.15 sets forth a complete and correct list of all outstanding Indebtedness of the Company and its Subsidiaries as of April 30, 2010 (including a description of the obligors and obligees, principal amount outstanding and collateral therefor, if any, and Guaranty thereof, if any), since which date, except as set forth on Schedule 5.15, there has been no Material change in the amounts, interest rates, sinking funds, installment payments or maturities of the Indebtedness of the Company or its Subsidiaries.  Neither the Company nor any Subsidiary is in default, and no waiver of default is currently in effect, in the payment of any principal or interest on any Indebtedness of the Company or such Subsidiary and no event or condition exists with respect to any Indebtedness of the Company or such Subsidiary that would permit (or that with notice or the lapse of time, or both, would permit) one or more Persons to cause such Indebtedness to become due and payable before its stated maturity or before its regularly scheduled dates of payment.

 

(b)           Neither the Company nor any Subsidiary is a party to, or otherwise subject to any provision contained in, any instrument evidencing Indebtedness of the Company or such Subsidiary, any agreement relating thereto or any other agreement (including, but not limited to, its charter or other organizational document) which limits the amount of, or otherwise imposes restrictions on the incurring of, Indebtedness of the Company, except as specifically indicated in Schedule 5.15.

 

	
5.16.

	
Foreign Assets Control Regulations, Etc.

 

(a)           Neither the sale of the Notes by the Company hereunder nor its use of the proceeds thereof will violate the Trading with the Enemy Act, as amended, or any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or executive order relating thereto.

 

(b)           Neither the Company nor any Subsidiary (i) is a Person described or designated in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order or (ii) engages in any dealings or transactions with any such Person.  The Company and its Subsidiaries are in compliance, in all material respects, with the USA Patriot Act.

 

(c)           No part of the proceeds from the sale of the Notes hereunder will be used, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended, assuming in all cases that such Act applies to the Company.

 

 

 

 

  

9

  

 

 

 

 

	
5.17.

	
Status under Certain Statutes.

 

Neither the Company nor any Subsidiary is subject to regulation under the Investment Company Act of 1940, as amended, the ICC Termination Act of 1995, as amended, or the Federal Power Act, as amended.

 

	
5.18.

	
Environmental Matters.

 

Neither the Company nor any Subsidiary has knowledge of any claim or has received any notice of any claim, and no proceeding has been instituted raising any claim against the Company or any of its Subsidiaries or any of their respective real properties now or formerly owned, leased or operated by any of them or other assets, alleging any damage to the environment or violation of any Environmental Laws, except, in each case, such as would not reasonably be expected to result in a Material Adverse Effect.  Schedule 5.18 contains a list of the products offered for sale by the Company and its Subsidiaries that may constitute Hazardous Materials.

 

(a)           Neither the Company nor any Subsidiary has knowledge of any facts that would give rise to any claim, public or private, of violation of Environmental Laws or damage to the environment emanating from, occurring on or in any way related to real properties now or formerly owned, leased or operated by any of them or to other assets or their use, except, in each case, such as would not reasonably be expected to result in a Material Adverse Effect.

 

(b)           Neither the Company nor any of its Subsidiaries has stored any Hazardous Materials on real properties now or formerly owned, leased or operated by any of them and has not disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each case in any manner that would reasonably be expected to result in a Material Adverse Effect.

 

(c)           All buildings on all real properties now owned, leased or operated by the Company or any of its Subsidiaries are in compliance with applicable Environmental Laws, except where failure to comply would not reasonably be expected to result in a Material Adverse Effect.

 

	
5.19.

	
Solvency.

 

On the date of Closing, after giving effect to the consummation of the transactions contemplated by this Agreement, including the issuance of the Notes, the use of the proceeds thereof and the consummation of the Recapitalization Transaction, the Company will be Solvent.

 

 

 

 

 

  

10

  

 

 

 

 

	
6.

	
REPRESENTATIONS OF THE PURCHASER.

 

	
6.1.

	
Purchase for Investment.

 

Each Purchaser severally represents that it is purchasing the Notes for its own account or for one or more separate accounts maintained by such Purchaser or for the account of one or more pension or trust funds and not with a view to the distribution thereof, provided that the disposition of such Purchaser’s or their property shall at all times be within such Purchaser’s or their control.  Each Purchaser understands that the Notes have not been registered under the Securities Act and may be resold only if registered pursuant to the provisions of the Securities Act or if an exemption from registration is available, except under circumstances where neither such registration nor such an exemption is required by law, and that the Company is not required to register the Notes.

 

	
6.2.

	
Source of Funds.

 

Each Purchaser severally represents that at least one of the following statements is an accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay the purchase price of the Notes to be purchased by such Purchaser hereunder:

 

(a)           the Source is an “insurance company general account” (as the term is defined in the United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in respect of which the reserves and liabilities (as defined by the annual statement for life insurance companies approved by the National Association of Insurance Commissioners (the “NAIC Annual Statement”)) for the general account contract(s) held by or on behalf of any employee benefit plan together with the amount of the reserves and liabilities for the general account contract(s) held by or on behalf of any other employee benefit plans maintained by the same employer (or affiliate thereof as defined in PTE 95-60) or by the same employee organization in the general account do not exceed 10% of the total reserves and liabilities of the general account (exclusive of separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed with such Purchaser’s state of domicile; or

 

(b)           the Source is a separate account that is maintained solely in connection with such Purchaser’s fixed contractual obligations under which the amounts payable, or credited, to any employee benefit plan (or its related trust) that has any interest in such separate account (or to any participant or beneficiary of such plan (including any annuitant)) are not affected in any manner by the investment performance of the separate account; or

 

(c)           the Source is either (i) an insurance company pooled separate account, within the meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE 91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this clause (c), no employee benefit plan or group of plans maintained by the same employer or employee organization beneficially owns more than 10% of all assets allocated to such pooled separate account or collective investment fund; or

 

 

 

 

  

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(d)           the Source constitutes assets of an “investment fund” (within the meaning of Part V of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager” or “QPAM” (within the meaning of Part V of the QPAM Exemption), no employee benefit plan’s assets that are included in such investment fund, when combined with the assets of all other employee benefit plans established or maintained by the same employer or by an affiliate (within the meaning of Section V(c)(1) of the QPAM Exemption) of such employer or by the same employee organization and managed by such QPAM, exceed 20% of the total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM Exemption are satisfied, neither the QPAM nor a person controlling or controlled by the QPAM (applying the definition of “control” in Section V(e) of the QPAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such QPAM and (ii) the names of all employee benefit plans whose assets are included in such investment fund have been disclosed to the Company in writing pursuant to this clause (d); or

 

(e)           the Source constitutes assets of a “plan(s)” (within the meaning of Section IV of PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within the meaning of Part IV of the INHAM Exemption), the conditions of Part I(a), (g) and (h) of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or controlled by the INHAM (applying the definition of “control” in Section IV(d) of the INHAM Exemption) owns a 5% or more interest in the Company and (i) the identity of such INHAM and (ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have been disclosed to the Company in writing pursuant to this clause (e); or

 

(f)           the Source is a governmental plan; or

 

(g)           the Source is one or more employee benefit plans, or a separate account or trust fund comprised of one or more employee benefit plans, each of which has been identified to the Company in writing pursuant to this clause (g); or

 

(h)           the Source does not include assets of any employee benefit plan, other than a plan exempt from the coverage of ERISA.

 

As used in this Section 6.2, the terms “employee benefit plan”, “governmental plan” and “separate account” shall have the respective meanings assigned to such terms in section 3 of ERISA.

 

	
7.

	
INFORMATION AS TO COMPANY.

 

	
7.1.

	
Financial and Business Information

 

The Company will deliver to each holder of Notes that is an Institutional Investor:

 

(a)           Quarterly Statements — within 60 days (or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Quarterly Report on Form 10-Q (the “Form 10-Q”) with the SEC regardless of whether the Company is subject to the filing requirements thereof) after the end of each quarterly fiscal period in each fiscal year of the Company (other than the last quarterly fiscal period of each such fiscal year), duplicate copies of,

 

(i)           a consolidated balance sheet of the Company and its Subsidiaries as at the end of such quarter, and

 

 

 

 

  

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(ii)           consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries, for such quarter and (in the case of the second and third quarters) for the portion of the fiscal year ending with such quarter,

 

setting forth in each case in comparative form the figures for the corresponding periods in the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP applicable to quarterly financial statements generally, and certified by a Senior Financial Officer as fairly presenting, in all material respects, the financial position of the companies being reported on and their results of operations and cash flows, subject to changes resulting from year-end adjustments, provided that delivery within the time period specified above of copies of the Company’s Form 10-Q prepared in compliance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 7.1(a), and provided further that the Company shall be deemed to have made such delivery of such Form 10-Q if it shall have timely filed such Form 10-Q with the SEC on “EDGAR” (or any successor thereto) and such Form 10-Q is available on the SEC’s website and on the Company’s home page on the worldwide web (at the date of this Agreement located at: http//www.caseys.com), or posted on the Company’s behalf on IntraLinks or another relevant website, if any, to which each such holder has access, and shall have given such holder prior notice of such availability on EDGAR and on its home page, IntraLinks or other relevant website in connection with each delivery (such availability and notice thereof being referred to as “Electronic Delivery”);

 

(b)           Annual Statements — within 120 days (or such shorter period as is 15 days greater than the period applicable to the filing of the Company’s Annual Report on Form 10-K (the “Form 10-K”) with the SEC regardless of whether the Company is subject to the filing requirements thereof) after the end of each fiscal year of the Company, duplicate copies of,

 

(i)           a consolidated balance sheet of the Company and its Subsidiaries, as at the end of such year, and

 

(ii)           consolidated statements of income, changes in shareholders’ equity and cash flows of the Company and its Subsidiaries, for such year,

 

setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP, and accompanied by an opinion thereon of KPMG LLP or another firm of independent public accountants of recognized national standing, which opinion shall state that such financial statements present fairly, in all material respects, the financial position of the companies being reported upon and their results of operations and cash flows and have been prepared in 

 

 

 

 

  

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conformity with GAAP, and that the examination of such accountants in connection with such financial statements has been made in accordance with generally accepted auditing standards, and that such audit provides a reasonable basis for such opinion in the circumstances, provided that the delivery within the time period specified above of the Company’s Annual Report on Form 10-K for such fiscal year (together with the Company’s annual report to shareholders, if any, prepared pursuant to Rule 14a-3 under the Exchange Act) prepared in accordance with the requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of this Section 7.1(b), and provided, further, that the Company shall be deemed to have made such delivery of such Form 10-K if it shall have timely made Electronic Delivery thereof;

 

(c)           SEC and Other Reports — promptly upon their becoming available, one copy of (i) each financial statement, report, notice or proxy statement sent by the Company or any Subsidiary to its principal lending banks as a whole (excluding information sent to such banks in the ordinary course of administration of a bank facility, such as information relating to pricing and borrowing availability) or to public securities holders generally, (ii) each regular or periodic report, each registration statement that shall have become effective (without exhibits except as expressly requested by such holder), and each final prospectus and all amendments thereto filed by the Company or any Subsidiary with the SEC; provided that in each case the Company shall be deemed to have made such delivery if it shall have made Electronic Delivery thereof;

 

(d)           Notice of Default or Event of Default — promptly, and in any event within five Business Days after a Responsible Officer becoming aware of the existence of any Default or Event of Default, a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

 

(e)           ERISA Matters — promptly, and in any event within five days after a Responsible Officer becoming aware of any of the following, a written notice setting forth the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes to take with respect thereto:

 

(i)           with respect to any Plan, any reportable event, as defined in section 4043(c) of ERISA and the regulations thereunder, for which notice thereof has not been waived pursuant to such regulations as in effect on the date hereof; or

 

(ii)           the taking by the PBGC of steps to institute, or the threatening by the PBGC of the institution of, proceedings under section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan, or the receipt by the Company or any ERISA Affiliate of a notice from a Multi-employer Plan that such action has been taken by the PBGC with respect to such Multi-employer Plan; or

 

(iii)           any event, transaction or condition that could result in the incurrence of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, or in the imposition of any Lien on any of the rights, properties or assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or such penalty or excise tax provisions, if such liability or Lien, taken together with any other such liabilities or Liens then existing, would reasonably be expected to have a Material Adverse Effect; and

 

 

 

 

  

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(f)           Requested Information — with reasonable promptness, such other data and information relating to the business, operations, affairs, financial condition, assets or properties of the Company or any of its Subsidiaries (including actual copies of the Company’s Form 10-Q and Form 10-K) or relating to the ability of the Company to perform its obligations under this Agreement and under the Notes as from time to time may be reasonably requested by such holder of Notes.

 

	
7.2.

	
Officer’s Certificate.

 

Each set of financial statements delivered to a holder of Notes pursuant to Section 7.1(a) or Section 7.1(b) shall be accompanied by a certificate of a Senior Financial Officer setting forth (which, in the case of Electronic Delivery of any such financial statements, shall be by separate, substantially concurrent electronic delivery (e-mail) of such certificate to each holder of Notes):

 

(a)           Covenant Compliance — the information (including detailed calculations) required in order to establish whether the Company was in compliance with the requirements of Section 10.1 through Section 10.9, inclusive, during the quarterly or annual period covered by the statements then being furnished (including with respect to each such Section, where applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the case may be, permissible under the terms of such Sections, and the calculation of the amount, ratio or percentage then in existence); and

 

(b)           Event of Default — a statement that such Senior Financial Officer has reviewed the relevant terms hereof and has made, or caused to be made, under his or her supervision, a review of the transactions and conditions of the Company and its Subsidiaries from the beginning of the quarterly or annual period covered by the statements then being furnished to the date of the certificate and that such review shall not have disclosed the existence during such period of any condition or event that constitutes a Default or an Event of Default or, if any such condition or event existed or exists, specifying the nature and period of existence thereof and what action the Company shall have taken or proposes to take with respect thereto.

 

	
7.3.

	
Visitation.

 

The Company shall permit the representatives of each holder of Notes that is an Institutional Investor:

 

(a)           No Default — if no Default or Event of Default then exists, at the expense of such holder and upon reasonable prior notice to the Company, to visit the principal executive office of the Company, to discuss the affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers, and, with the consent of the Company (which consent will not be unreasonably withheld), to visit the other offices and properties of the Company and each Subsidiary, all at such reasonable times and as often as may be reasonably requested in writing; and

 

 

 

 

  

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(b)           Default — if a Default or Event of Default then exists, at the expense of the Company to visit and inspect any of the offices or properties of the Company or any Subsidiary, to examine all their respective books of account, records, reports and other papers, to make copies and extracts therefrom, and to discuss their respective affairs, finances and accounts with their respective officers and independent public accountants (and by this provision the Company authorizes said accountants to discuss the affairs, finances and accounts of the Company and its Subsidiaries), all at such times and as often as may be requested.

 

	
8.

	
PREPAYMENT OF THE NOTES

 

	
8.1.

	
Maturity.

 

As provided therein, the entire unpaid principal balance of the Notes shall be due and payable on the stated maturity date thereof.

 

	
8.2.

	
Optional Prepayments with Make-Whole Amount.

 

The Company may, at its option, upon notice as provided below, prepay at any time all, or from time to time any part of, the Notes, in an amount not less than $2,000,000 in the case of a partial prepayment, at 100% of the principal amount so prepaid, plus the Make-Whole Amount determined for the prepayment date with respect to such principal amount.  The Company will give each holder of Notes written notice of each optional prepayment under this Section 8.2 not less than 30 days and not more than 60 days prior to the date fixed for such prepayment.  Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date, the principal amount of each Note held by such holder to be prepaid (determined in accordance with Section 8.3), and the interest to be paid on the prepayment date with respect to such principal amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of the prepayment), setting forth the details of such computation.  Two Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified prepayment date.

 

	
8.3.

	
Allocation of Partial Prepayments.

 

In the case of each partial prepayment of the Notes pursuant to Section 8.2, the principal amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not theretofore called for prepayment.  All partial prepayments made pursuant to Section 8.7 or Section 8.8 shall be applied only to the Notes of the holders who have elected to participate in such prepayment.

 

 

 

 

  

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8.4.

	
Maturity; Surrender, Etc.

 

In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of each Note to be prepaid shall mature and become due and payable on the date fixed for such prepayment (which shall be a Business Day), together with interest on such principal amount accrued to such date and the applicable Make-Whole Amount, if any.  From and after such date, unless the Company shall fail to pay such principal amount when so due and payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such principal amount shall cease to accrue.  Any Note paid or prepaid in full shall be surrendered to the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any prepaid principal amount of any Note.

 

	
8.5.

	
Purchase of Notes.

 

The Company will not and will not permit any Affiliate to purchase, redeem, prepay or otherwise acquire, directly or indirectly, any of the outstanding Notes except (a) upon the payment or prepayment of the Notes in accordance with the terms of this Agreement and the Notes or (b) pursuant to an offer to purchase made by the Company or an Affiliate pro rata to the holders of all Notes at the time outstanding upon the same terms and conditions.  Any such offer shall provide each holder with sufficient information to enable it to make an informed decision with respect to such offer, and shall remain open for at least 30 Business Days.  If the holders of more than 25% of the principal amount of the Notes then outstanding accept such offer, the Company shall promptly notify the remaining holders of such fact and the expiration date for the acceptance by holders of Notes of such offer shall be extended by the number of days necessary to give each such remaining holder at least 10 Business Days from its receipt of such notice to accept such offer.  The Company will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in substitution or exchange for any such Notes.

 

	
8.6.

	
Make-Whole Amount.

 

“Make-Whole Amount” means, with respect to any Note, an amount equal to the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the Called Principal of such Note over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero.  For the purposes of determining the Make-Whole Amount, the following terms have the following meanings:

 

“Called Principal” means, with respect to any Note, the principal of such Note that is to be prepaid pursuant to Section 8.2, 8.7 or 8.8 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

 

“Discounted Value” means, with respect to the Called Principal of any Note, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.

 

 

 

 

  

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“Reinvestment Yield” means, with respect to the Called Principal of any Note, 0.50% over the yield to maturity implied by (i) the yields reported, as of 10:00 a.m. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may replace Page PX1) on the Bloomberg Financial Markets for the most recently issued actively traded on the run U.S. Treasury securities having a maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date, or (ii) if such yields are not reported as of such time or the yields reported as of such time are not ascertainable (including by way of interpolation), the Treasury Constant Maturity Series Yields reported, for the latest day for which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for U.S. Treasury securities having a constant maturity equal to the Remaining Average Life of such Called Principal as of such Settlement Date.

 

In the case of each determination under clause (i) or clause (ii), as the case may be, of the preceding paragraph, such implied yield will be determined, if necessary, by (a) converting U.S. Treasury bill quotations to bond-equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between (1) the applicable U.S. Treasury security with the maturity closest to and greater than such Remaining Average Life and (2) the applicable U.S. Treasury security with the maturity closest to and less than such Remaining Average Life.  The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note.

 

“Remaining Average Life” means, with respect to any Called Principal, the number of years (calculated to the nearest one-twelfth year) obtained by dividing (i) such Called Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years (calculated to the nearest one-twelfth year) that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment.

 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note, all payments of such Called Principal and interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date on which interest payments are due to be made under the terms of the Notes, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date pursuant to Section 8.2, 8.7 or 8.8 or Section 12.1.

 

“Settlement Date” means, with respect to the Called Principal of any Note, the date on which such Called Principal is to be prepaid pursuant to Section 8.2, 8.7 or 8.8 or has become or is declared to be immediately due and payable pursuant to Section 12.1, as the context requires.

 

 

 

 

  

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8.7.

	
Change of Control.

 

(a)           Notice of Change in Control; Conditions to Company Action.

 

(i) Unless the Company has exercised its right to prepay all of the Notes pursuant to Section 8.2 and the date fixed for such prepayment is on or before the last permissible Proposed Prepayment Date (as defined below) for a prepayment pursuant to an offer under this Section 8.7(a)(i), the Company will, within 5 Business Days after a Responsible Officer has knowledge of the occurrence of a Change in Control, give written notice of such Change in Control to each holder of Notes, unless notice in respect of such Change in Control shall have been given pursuant to subparagraph (ii) of this Section 8.7(a).  If a Change in Control has occurred, such notice shall contain and constitute an offer to prepay the Notes as described in Section 8.7(b).

 

(ii) The Company will not take any action that consummates or finalizes a Change in Control unless at least ten (10) Business Days prior to such action the Company shall have given to each holder of Notes written notice containing and constituting an offer to prepay such Notes as described in Section 8.7(b), accompanied by the certificate described in Section 8.7(f), and subject to the provisions of clause (c) of this Section 8.7, substantially contemporaneously with such action, it prepays all Notes required to be prepaid in accordance with this Section 8.7.

 

(b)           Offer to Prepay Notes.  The offer to prepay the Notes contemplated by paragraph (a)(i) and (ii) of this Section 8.7 shall be an offer to prepay by the Company, in accordance with and subject to this Section 8.7, all, but not less than all, the Notes held by each holder (in this case only, “holder” in respect of any Note registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Proposed Prepayment Date”) which shall be (i) if the Proposed Prepayment Date is in connection with an offer contemplated by Section 8.7(a)(i), not less than 20 Business Days and not more than 40 Business Days after the date of such offer (if the Proposed Prepayment Date shall not be specified in such offer, the Proposed Prepayment Date shall be the 20th Business Day after the date of such offer) and (ii) if the Proposed Prepayment Date is in connection with an offer contemplated by Section 8.7(a)(ii), the effective date of the Change in Control.

 

(c)           Acceptance. A holder of Notes may accept the offer to prepay made pursuant to this Section 8.7 by causing a notice of such acceptance to be delivered to the Company at least five (5) Business Days prior to the Proposed Prepayment Date.  A failure by a holder of Notes to respond to an offer to prepay made pursuant to this Section 8.7 shall be deemed to constitute an acceptance of such offer by such holder.

 

(d)           Prepayment. Prepayment of the Notes to be prepaid pursuant to this Section 8.7 shall be at 100% of the principal amount of the Notes together with accrued and unpaid interest thereon, and the Make-Whole Amount, if any, with respect thereto.  On the Business Day preceding the date of prepayment, the Company shall deliver to each holder of Notes a statement showing the Make-Whole Amount due in connection with such prepayment and setting forth the details of the computation of such amount.  The prepayment shall be made on the Proposed Prepayment Date except as provided in Section 8.7(e).

 

 

 

 

  

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(e)           Deferral Pending Change in Control. The obligation of the Company to prepay the Notes pursuant to the offers required by Section 8.7(a)(ii) and accepted in accordance with subparagraph (c) of this Section 8.7 is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made.  In the event that such Change in Control has not occurred on or by the Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until and shall be made on the date on which such Change in Control occurs.  The Company shall keep each holder of Notes reasonably and timely informed of (i) any such deferral of the date of prepayment, (ii) the date on which such Change in Control and the prepayment are expected to occur, and (iii) any determination by the Company that efforts to effect such Change in Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to this Section 8.7 in respect of such Change in Control shall be deemed rescinded).

 

(f)           Officer’s Certificate. Each offer to prepay the Notes pursuant to this Section 8.7 shall be accompanied by a certificate, executed by a Senior Financial Officer of the Company and dated the date of such offer, specifying: (i) the Proposed Prepayment Date; (ii) that such offer is made pursuant to this Section 8.7; (iii) the principal amount of each Note offered to be prepaid; (iv) the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date of such notice were the date of prepayment), setting forth the details of such computation, (v) the interest that would be due on each Note offered to be prepaid, accrued to the Proposed Prepayment Date; (v) that the conditions of Section 8.7(a) have been fulfilled; and (vi) in reasonable detail, the nature and date or proposed date of the Change in Control.

 

(g)           Certain Definitions. “Change in Control” shall mean the occurrence of any of the following events:

 

(i)          any "person" or "group" (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act ,except that for purposes of this clause such person or group shall be deemed to have "beneficial ownership" of all securities that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of voting stock representing 35% or more of the voting power of the total outstanding voting stock of the Company;

 

(ii)          on any date individuals who at the beginning of the period commencing two years prior to such date constituted the Board of Directors of the Company (together with any new directors whose election to the Board of Directors of the Company or whose nomination for election by the shareholders of the Company was approved by a vote of 66-2/3% of the directors of the Company then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved, the “Incumbent Directors”) cease for any reason to constitute a majority of the Board of Directors of the Company then in office, unless the Incumbent Directors constitute a majority of the Board of Directors of a Surviving Person or Ultimate Parent, as applicable;

 

 

 

 

 

  

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(iii)           the Company consolidates with or merges with or into another Person or another Person merges with or into the Company, or all or substantially all the assets of the Company and the Subsidiaries, taken as a whole, are transferred to another Person, and, in the case of any such merger or consolidation, the securities of the Company that are outstanding immediately prior to such transaction and which represent 100% of the aggregate voting power of the voting stock of the Company are changed into or exchanged for cash, securities or property, unless pursuant to such transaction such securities are changed into or exchanged for, in addition to any other consideration, securities of the surviving Person (the “Surviving Person”) that represent immediately after such transaction, at least a majority of the aggregate voting power of the voting stock of the Surviving Person or of the Person of which such Surviving Person is a direct or indirect Wholly Owned Subsidiary (the “Ultimate Parent”); or

 

(iv)          the Company liquidates or dissolves or the stockholders of the Company adopt a plan of liquidation or dissolution.

 

	
8.8.

	
Offer to Prepay Notes upon Certain Sales of Assets.

 

(a)           Notice of Prepayment of other Indebtedness.  At least 10 Business Days prior to application by the Company or any Subsidiary of any net proceeds from any Asset Disposition to be excluded from the limitation and computation contained in Section 10.6(c) pursuant to clause (A)(z) of Section 10.6 to the payment or prepayment of any outstanding Indebtedness of the Company and its Subsidiaries (other than the Notes), the Company shall give written notice thereof to each holder of the Notes.  Such notice shall contain and constitute an offer by the Company to prepay the Notes as described in Section 8.8(b) and shall be accompanied by the certificate described in Section 8.8(e).

 

(b)           Offer to Prepay.  The offer to prepay Notes contemplated by Section 8.8(a) by the Company or any of its Subsidiaries shall be an offer to prepay, in accordance with and subject to this Section 8.8, the Notes held by the holders thereof (in this case only, “holder” in respect of any Note registered in the name of a nominee for a disclosed beneficial owner shall mean such beneficial owner) on a date specified in such offer (the “Offer Prepayment Date”) which date shall be not less than 20 Business Days and not more than 40 Business Days after the date of such offer (if the Offer Prepayment Date shall not be specified in such offer, the Offer Prepayment Date shall be the 20th Business Day after the date of such offer), in an aggregate amount equal to the amount that bears the same proportion to the outstanding principal amount of the Notes as the aggregate amount of all such net proceeds to be applied to the payment or prepayment of Indebtedness (including the Notes) bears to the aggregate outstanding principal amount of all such Indebtedness.

 

(c)           Acceptance; Rejection.  A holder of Notes may accept an offer to prepay made to such holder pursuant to this Section 8.8 by causing a notice of such acceptance or rejection to be delivered to the Company prior to the Offer Prepayment Date.  A failure by a holder of Notes to so respond to an offer to prepay shall be deemed to constitute an acceptance of such offer by such holder.

 

(d)           Prepayment.  Prepayment of the Notes to be prepaid pursuant to this Section 8.8 shall be in the amount set forth in Section 8.8(b), together with interest on such Notes accrued to the date of prepayment and the Make-Whole Amount, if any, with respect thereto.  The prepayment pursuant to an offer to prepay any Notes shall be made on the Offer Prepayment Date for such offer.

 

 

 

  

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(e)           Officer’s Certificate.  Each offer to prepay Notes pursuant to this Section 8.8 shall be accompanied by a certificate, executed by a Responsible Officer of the Company and dated the date of such offer, specifying (i) the Offer Prepayment Date for such offer, (ii) that such offer is made pursuant to Section 8.8, (iii) the principal amount of each Note offered to be prepaid, (iv) the interest that would be due on each Note offered to be prepaid, accrued to the Offer Prepayment Date for such offer, (v) whether or not the conditions of this Section 8.8 have been fulfilled by the Company, and (vi) in reasonable detail, the nature and date of Asset Disposition giving rise to such offer and the net proceeds received in connection therewith.

 

	
9.

	
AFFIRMATIVE COVENANTS.

 

The Company covenants that so long as any of the Notes are outstanding:

 

	
9.1.

	
Compliance with Law.

 

Without limiting Section 10.7, the Company will and will cause each of its Subsidiaries to comply with all laws, ordinances or governmental rules or regulations to which each of them is subject, including, without limitation, ERISA, the USA Patriot Act and Environmental Laws, and will obtain and maintain in effect all licenses, certificates, permits, franchises and other governmental authorizations necessary to the ownership of their respective properties or to the conduct of their respective businesses, in each case to the extent necessary to ensure that non-compliance with such laws, ordinances or governmental rules or regulations or failures to obtain or maintain in effect such licenses, certificates, permits, franchises and other governmental authorizations would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

 

	
9.2.

	
Insurance.

 

The Company will and will cause each of its Subsidiaries to maintain, with financially sound and reputable insurers, insurance with respect to their respective properties and businesses against such casualties and contingencies, of such types, on such terms and in such amounts (including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with respect thereto) as is customary in the case of entities of established reputations engaged in the same or a similar business and similarly situated.

 

	
9.3.

	
Maintenance of Properties.

 

The Company will and will cause each of its Subsidiaries to maintain and keep, or cause to be maintained and kept, their respective properties in good repair, working order and condition (other than ordinary wear and tear), so that the business carried on in connection therewith may be properly conducted at all times, provided that this Section shall not prevent the Company or any Subsidiary from discontinuing the operation and the maintenance of any of its properties if such discontinuance is desirable in the conduct of its business and the Company has concluded that such discontinuance would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

 

 

 

 

  

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9.4.

	
Payment of Taxes and Claims.

 

The Company will and will cause each of its Subsidiaries to file all income tax or similar tax returns required to be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such returns and all other taxes, assessments, governmental charges, or levies payable by any of them, to the extent the same have become due and payable and before they have become delinquent, provided that neither the Company nor any Subsidiary need pay any such tax, assessment, charge or levy if (i) the amount, applicability or validity thereof is contested by the Company or such Subsidiary on a timely basis in good faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (ii) the nonpayment of all such taxes, assessments, charges and levies in the aggregate would not reasonably be expected to have a Material Adverse Effect.

 

	
9.5.

	
Corporate Existence, Etc.

 

Subject to Section 10.5, the Company will at all times preserve and keep in full force and effect its corporate existence.  Subject to Sections 10.5 and 10.6, the Company will at all times preserve and keep in full force and effect the corporate existence of each of its Subsidiaries (unless merged into the Company or a Wholly Owned Subsidiary) and all rights and franchises of the Company and its Subsidiaries unless, in the good faith judgment of the Company, the termination of or failure to preserve and keep in full force and effect such corporate existence, right or franchise would not, individually or in the aggregate, have a Material Adverse Effect.

 

	
9.6.

	
Books and Records.

 

The Company will, and will cause each of its Subsidiaries to, maintain proper books of record and account in conformity with GAAP and all applicable requirements of any Governmental Authority having legal or regulatory jurisdiction over the Company or such Subsidiary, as the case may be.

 

	
9.7.

	
Subsequent Guarantors.

 

If any Subsidiary of the Company that is not then party to a Guaranty Agreement (as defined below) at any time Guaranties, or becomes a co-borrower or co-obligor of any Indebtedness of the Company under any Primary Credit Facility, the Company shall cause such Subsidiary at such time to execute and deliver to the holders of the Notes an agreement (a “Guaranty Agreement”), in the form attached hereto as Exhibit 9.7, under which such Subsidiary shall Guaranty the Company’s obligations under this Agreement and the Notes, accompanied by a certificate of the Secretary or Assistant Secretary of such Subsidiary certifying such Subsidiary’s charter and by-laws (or comparable governing documents), resolutions of the board of directors (or comparable governing body) of such Subsidiary authorizing the execution and delivery of such Guaranty Agreement and incumbency and specimen signatures of the officers of such Subsidiary executing such documents and otherwise in form and substance substantially similar to the certificate delivered with respect to the Company pursuant to Section 4.3(b) on the date of Closing and an opinion of counsel in form and substance substantially similar to the opinion delivered with respect to the Company pursuant to Section 4.4(a) on the date of Closing.

 

 

 

 

  

23

  

 

 

 

 

The Guaranty and Guaranty Agreement of any Subsidiary Guarantor shall be automatically and unconditionally released and discharged if such Subsidiary Guarantor shall have been released from its obligations as a guarantor, co-borrower and/or co-obligor under each Principal Credit Facility giving rise to an obligation to Guaranty this Agreement and the Notes, provided that (i) no Default or Event of Default exists at the time of such release or would result therefrom and (ii) such Guaranty and Guaranty Agreement shall not be released and discharged if the Company or any Subsidiary or Affiliate, directly or indirectly, pays or causes to be paid any consideration or remuneration, or gives any other concession, whether by way of supplemental or additional interest, fee or otherwise, to any creditor of the Company or of any Subsidiary as consideration for or as an inducement to the entering into by any such creditor of any release or discharge of any obligation or other liability of such Subsidiary Guarantor as borrower, obligor, or guarantor under or in respect of all or any portion of any Primary Credit Facility, unless such consideration, remuneration or concession is concurrently paid or given, on the same terms, ratably to the holders of the Notes. Any release pursuant to the preceding sentence shall not become effective unless the Company also shall have delivered to the holders of the Notes an Officer's Certificate certifying as to the satisfaction of each of the conditions of such release as set forth in the preceding sentence.

 

	
  

	
9.8.  Covenant to Secure Notes Equally.

 

The Company covenants that if it or any Subsidiary shall create or assume any Lien upon any of its property or assets, whether now owned or hereafter acquired, other than Liens permitted by the provisions of Section 10.4 (unless prior written consent to the creation or assumption thereof shall have been obtained pursuant to Section 17), it will make or cause to be made effective provision whereby the Notes will be secured by such Lien equally and ratably with any and all other Indebtedness thereby secured so long as any such other Indebtedness shall be so secured; provided that the creation and maintenance of such equal and ratable Lien shall not in any way limit or modify the right of the holders of the Notes to enforce the provisions of Section 10.4.

 

	
10.

	
NEGATIVE COVENANTS.

 

The Company covenants that so long as any of the Notes are outstanding:

 

	
10.1.

	
Financial Covenants.

 

(a)           Consolidated Total Debt.   The Company will not permit the ratio of Consolidated Total Debt (as of any date) to Consolidated EBITDA (for the Company’s then most recently completed four fiscal quarters) to be greater than 3.50 to 1.00 at any time.

 

(b)           Fixed Charge Coverage.      The Company will not permit, as of the end of any fiscal quarter,  the ratio of (i) Consolidated EBITR to (ii) the sum of Consolidated Interest Expense plus Consolidated Rental Expense (in each case for the Company’s then most recently completed four fiscal quarters) to be less than 2.00 to 1.00.

 

 

 

 

  

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(c)           Consolidated Net Worth.     Commencing with the fiscal quarter commencing November 1, 2010, the Company will not permit, as of the end of  any fiscal quarter, its Consolidated Net Worth to be less than (i) $25,000,000 plus (ii) the sum of 25% of Consolidated Net Income, if positive, for each completed fiscal quarter (measured separately) commencing with the first fiscal quarter ending after November 1, 2010.

 

	
10.2.

	
Priority Debt.

 

The Company will not permit Priority Debt to exceed 20% of Consolidated Net Worth (as of the end of the Company’s then most recently completed fiscal quarter) at any time.

 

	
10.3.

	
Indebtedness of Subsidiaries.

 

The Company will not at any time permit any Subsidiary, directly or indirectly, to create, incur, assume, guarantee, have outstanding, or otherwise become or remain directly or indirectly liable for, any Indebtedness other than:

 

(a)           Indebtedness outstanding as of the date of this Agreement that is described on Schedule 10.3 and any extension, renewal, refunding or refinancing thereof, provided that the principal amount outstanding at the time of such extension, renewal, refunding or refinancing is not increased;

 

(b)           Indebtedness owed to the Company or a Wholly Owned Subsidiary;

 

(c)           Indebtedness of a Subsidiary outstanding at the time of its acquisition by the Company, provided that (i) such Indebtedness was not incurred in contemplation of becoming a Subsidiary, (ii) at the time of such acquisition and after giving effect thereto, no Default or Event of Default exists or would exist, and (iii) such Indebtedness may not be extended, renewed, refunded or refinanced except as otherwise permitted herein;

 

(d)           Indebtedness of a Subsidiary under a Primary Credit Facility so long as such Subsidiary is a Subsidiary Guarantor party to an effective Guaranty Agreement;

 

(e)  Indebtedness not otherwise permitted by the preceding clauses (a) through (d), provided that immediately before and after giving effect thereto and to the application of the proceeds thereof,

 

(i)           no Default or Event of Default exists, and

 

(ii)           Priority Debt does not exceed 20% of Consolidated Net Worth (as of the end of the Company’s then most recently completed fiscal quarter).

 

 

 

 

  

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10.4.

	
Limitations on Liens.

 

The Company will not, and will not permit any Subsidiary to, permit to exist, create, assume or incur, directly or indirectly, any Lien on its properties or assets, whether now owned or hereafter acquired, except:

 

(a)           Liens existing as of the date of this Agreement that are listed on Schedule 10.4;

 

(b)           Liens (i) incidental to the conduct of business or the ownership of properties and assets (including landlords’, lessors’, carriers’, warehousemen’s, mechanics’, materialmen’s and other similar Liens), which Liens do not in the aggregate materially detract from the value of the assets of the Company and its Subsidiaries taken as a whole or materially impair the use thereof in the operation of their businesses, and (ii) to secure the performance of bids, tenders, leases or trade contracts, or to secure statutory obligations (including obligations under workers compensation, unemployment insurance and other social security legislation), surety or appeal bonds or other Liens of like general nature incurred in the ordinary course of business and not in connection with the borrowing of money;

 

(c)           leases or subleases granted to others, easements, rights-of-way, restrictions and other similar charges or encumbrances, in each case incidental to, and not interfering with, the ordinary conduct of the business of the Company or any of its Subsidiaries, provided that such Liens do not, in the aggregate, materially detract from the value of such property;

 

(d)           Liens (i) existing on property at the time of its acquisition or construction by the Company or a Subsidiary and not created in contemplation thereof, whether or not the Indebtedness secured by such Lien is assumed by the Company or a Subsidiary; or (ii) on property created contemporaneously or within 180 days of the acquisition or completion of construction or improvement thereof to secure or provide for all or a portion of the purchase price or cost of construction or improvement of such property after the date of this Agreement; or (iii) existing on property of a Person at the time such Person is merged or consolidated with, or becomes a Subsidiary of, or substantially all of its assets are acquired by, the Company or a Subsidiary and not created in contemplation thereof; provided that in the case of clauses (i), (ii) and (iii) such Liens do not extend to additional property of the Company or any Subsidiary (other than property that is an improvement to or is acquired for specific use in connection with the subject property) and the aggregate principal amount of Indebtedness secured by each such Lien does not exceed the fair market value (determined in good faith by the board of directors of the Company);

 

(e)           Liens for taxes, assessments or governmental charges not then due and delinquent or the nonpayment of which is permitted by Section 9.4;

 

(f)           any attachment or judgment Lien, unless the judgment it secures shall not, within 60 days after the entry thereof, have been discharged or execution thereof stayed pending appeal, or shall not have been discharged within 60 days after the expiration of any such stay;

 

 

 

 

  

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(g)           the extension, renewal or replacement of any Lien permitted by Sections 10.4(a) and (d), provided that (i) there is no increase in the principal amount or decrease in maturity of the Indebtedness secured thereby at the time of such extension, renewal or replacement, and (ii) any new Lien attaches only to the same property theretofore subject to such earlier Lien;

 

(h)           Liens securing Indebtedness of a Subsidiary to the Company or another Wholly Owned Subsidiary; and

 

(i)           in addition to the Liens permitted by paragraphs (a) through (h) of this Section 10.4, Liens securing Indebtedness of the Company or a Subsidiary that is not otherwise permitted to be outstanding pursuant to paragraphs (a) through (h), provided that (A) Priority Debt does not at any time exceed 20% of Consolidated Net Worth, and (B) no Lien permitted under this clause (i) shall secure any Indebtedness outstanding under any Primary Credit Facility unless (1) the Company or such Subsidiary has made or will make effective provision whereby the Company’s obligations under this Agreement and the Notes or the applicable Subsidiary Guarantee will be secured by an equal and ratable Lien pursuant to documents, including an intercreditor agreement, in form and substance satisfactory to the Required Holders, and (2) if the Lien is granted by a Subsidiary, such Subsidiary is a Subsidiary Guarantor party to an effective Guaranty Agreement.

 

	
10.5.

	
Merger, Consolidation, Etc.

 

The Company will not, and will not permit any Subsidiary to, consolidate with or merge with any other Person or convey, transfer, sell or lease all or substantially all of its assets in a single transaction or series of transactions to any Person except that:

 

(a)           the Company may consolidate or merge with any other Person or convey, transfer, sell or lease all or substantially all of its assets in a single transaction or series of transactions to any Person, provided that:

 

(i)           the successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer, sale or lease all or substantially all of the assets of the Company as an entirety, as the case may be, is a solvent corporation or limited liability company organized and existing under the laws of the United States or any State thereof (including the District of Columbia), and, if the Company is not such corporation or limited liability company, such corporation or limited liability company (y) shall have executed and delivered to each holder of any Notes its assumption of the due and punctual performance and observance of each covenant and condition of this Agreement and the Notes and (z) shall have caused to be delivered to each holder of any Notes an opinion of independent counsel reasonably satisfactory to the Required Holders, to the effect that all agreements or instruments effecting such assumption are enforceable in accordance with their terms and comply with the terms hereof;

 

 

 

 

  

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(ii)           immediately after giving effect to such transaction, the successor formed by such consolidation or the survivor of such merger or the Person that acquires by conveyance, transfer, sale or lease all or substantially all of the assets of the Company as an entirety, as the case may be, could incur $1.00 of additional Indebtedness; and

 

(iii)           immediately after giving effect to such transaction, no Default or Event of Default shall exist; and

 

(b)           Any Subsidiary may (x) merge into the Company (provided that the Company is the surviving corporation) or another Wholly Owned Subsidiary or (y) sell, transfer or lease all or any part of its assets to the Company or another Wholly Owned Subsidiary, or (z) merge or consolidate with, or sell, transfer or lease all or substantially all of its assets to, any Person in a transaction that is permitted by Section 10.6 or, as a result of which, such Person becomes a Subsidiary; provided in each instance set forth in clauses (x) through (z) that, immediately before and after giving effect thereto, there shall exist no Default or Event of Default;

 

No such conveyance, transfer or lease of substantially all of the assets of the Company shall have the effect of releasing the Company or any successor corporation or limited liability company that shall theretofore have become such in the manner prescribed in this Section 10.5 from its liability under this Agreement or the Notes.

 

	
10.6.

	
Sale of Assets.

 

Except as permitted by Section 10.5 hereof, the Company will not, and will not permit any Subsidiary to, make any Asset Disposition unless:

 

(a)           in the good faith opinion of the Company, the Asset Disposition is in exchange for consideration having a fair market value at least equal to that of the property exchanged or is otherwise in the best interest of the Company or such Subsidiary;

 

(b)           immediately before and after giving effect to the Asset Disposition, no Default or Event of Default would exist; and

 

(c)           immediately after giving effect to the Asset Disposition, the aggregate net book value of all Asset Dispositions (i) in any fiscal year would not exceed 15% of Consolidated Total Assets as of the end of the then most recently completed full fiscal year of the Company and (ii) after the date of this Agreement would not exceed 50% of Consolidated Total Assets as of the end of the fiscal year ended April 30, 2010.

 

Notwithstanding the foregoing, the Company may, and may permit any Subsidiary to, make an Asset Disposition and the assets subject to such Asset Disposition shall not be subject to or included in the foregoing limitation and computation contained in clause (c) of the preceding sentence to the extent that (A) the net proceeds from such Asset Disposition are within 365 days of such Asset Disposition (x) reinvested or committed pursuant to a written agreement to be reinvested in productive assets of a similar nature of at least equivalent value by the Company or a Subsidiary, (y) applied to the payment or prepayment of any outstanding Indebtedness permitted hereunder of the Company or its Subsidiaries which is 

 

 

 

 

 

 

  

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secured by a Lien permitted hereunder on the assets subject to such Asset Disposition or (z) applied to the payment or prepayment of the Notes or any other outstanding Indebtedness of the Company and its Subsidiaries that is not subordinated to the Notes (other than Indebtedness owing to the Company, any Subsidiary or any Affiliate), provided that (i) if any such Indebtedness permits reborrowing by the Company or such Subsidiary, the commitment to relend is permanently reduced by the amount of such payment, and (ii) if any such proceeds are to be applied to the payment or prepayment of any such other Indebtedness, the Company shall have offered to prepay the Notes on a pro rata basis in accordance with Section 8.8, and (B) after giving effect to such Asset Disposition no Default or Event of Default would exist.  Any prepayment of Notes pursuant to this Section 10.6 shall be in accordance with Section 8.2 or, if applicable, Section 8.8.

 

	
10.7.

	
Terrorism Sanctions Regulations.

 

The Company will not and will not permit any Subsidiary to (a) become a Person described or designated in the Specially Designated Nationals and Blocked Persons List of the Office of Foreign Assets Control or in Section 1 of the Anti-Terrorism Order or (b) engage in any dealings or transactions with any such Person.

 

	
10.8.

	
Nature of Business.

 

The Company will not, and will not permit any Subsidiary to, engage in any business if, as a result thereof, the general nature of the business in which the Company and its Subsidiaries, taken as a whole, would then be engaged, would be substantially changed from the general nature of the business in which the Company is engaged on the date of this Agreement as described in the Memorandum.

 

	
10.9.

	
Transactions with Affiliates.

 

The Company will not and will not permit any Subsidiary to enter into directly or indirectly any transaction or group of related transactions (including the purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with any Affiliate (other than the Company or another Subsidiary), except in the ordinary course and pursuant to the reasonable requirements of the Company’s or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a Person not an Affiliate.

 

 

 

 

  

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11.

	
EVENTS OF DEFAULT.

 

An “Event of Default” shall exist if any of the following conditions or events shall occur and be continuing:

 

(a)           the Company defaults in the payment of any principal or Make-Whole Amount, if any, on any Note when the same becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise; or

 

(b)           the Company defaults in the payment of any interest on any Note for more than five Business Days after the same becomes due and payable; or

 

(c)           the Company defaults in the performance of or compliance with any term contained in Section 7.1(d), Section 8.7, Section 8.8 or Sections 10.1 through 10.9; or

 

(d)           (i)  the Company defaults in the performance of or compliance with any term contained herein (other than those referred to in Sections 11(a), (b) and (c)) and such default is not remedied within 30 days after the earlier of (x) a Responsible Officer obtaining actual knowledge of such default and (y) the Company receiving written notice of such default from any holder of a Note, or (ii) any Guarantor fails to perform or observe any agreement contained in the Guaranty Agreement to which it is a party and such failure shall not be remedied within 30 days after the earlier of (x) a Responsible Officer obtaining actual knowledge thereof and (y) the Company receiving written notice of such failure from any holder of a Note); or

 

(e)           any representation or warranty made in writing by or on behalf of the Company or any Guarantor or by any officer of the Company or any Guarantor in this Agreement, any Guaranty Agreement or in any writing furnished in connection with the transactions contemplated hereby or by any Guaranty Agreement proves to have been false or incorrect in any material respect on the date as of which made; or

 

(f)           (i) the Company or any Significant Subsidiary is in default (as principal or as guarantor or other surety) in the payment of any principal of or premium or make-whole amount or interest on any Indebtedness that is outstanding in an aggregate principal amount of at least $35,000,000 beyond any period of grace provided with respect thereto, (ii) the Company or any Significant Subsidiary is in default in the performance of or compliance with any term of any evidence of any Indebtedness in an aggregate outstanding principal amount of at least $35,000,000 or of any mortgage, indenture or other agreement relating thereto or any other condition exists, and as a consequence of such default or condition such Indebtedness has become, or has been declared (or one or more Persons are entitled to declare such Indebtedness to be), due and payable before its stated maturity or before its regularly scheduled dates of payment, or (iii) as a consequence of the occurrence or continuation of any event or condition (other than the passage of time or the right of the holder of Indebtedness to convert such Indebtedness into equity interests), (x) the Company or any Significant Subsidiary has become obligated to purchase or repay Indebtedness before its regular maturity or before its regularly scheduled dates of payment in an aggregate outstanding principal amount of at least $35,000,000, or (y) one or more Persons have the right to require the Company or any Significant Subsidiary so to purchase or repay such Indebtedness (excluding a right to require the repayment or purchase of Indebtedness arising solely from an event with respect to which the holders have received, or will receive, an offer to prepay the Notes pursuant to Section 8.7, where the terms of such other Indebtedness expressly provide that the Company or such Significant Subsidiary are not obligated to purchase or prepay any portion of such Indebtedness as a result of such event or condition until after the Company has complied with its obligation as a result of such event or condition to offer to purchase the Notes pursuant to Section 8.7 and consummated the prepayment of each Note for which such offer has been accepted); or

 

 

 

 

  

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(g)           the Company or any Significant Subsidiary (i) is generally not paying, or admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or

 

(h)           a court or Governmental Authority of competent jurisdiction enters an order appointing, without consent by the Company or any of its Significant Subsidiaries, a custodian, receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property, or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up or liquidation of the Company or any of its Significant Subsidiaries, or any such petition shall be filed against the Company or any of its Significant Subsidiaries and such petition shall not be dismissed within 60 days; or

 

(i)           a final judgment or judgments for the payment of money aggregating in excess of $25,000,000 are rendered against one or more of the Company and its Significant Subsidiaries and which judgments are not, within 60 days after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within 60 days after the expiration of such stay; or

 

(j)           (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the aggregate “amount of unfunded benefit liabilities” (within the meaning of section 4001(a)(18) of ERISA) under all Plans, determined in accordance with Title IV of ERISA, shall exceed $25,000,000, (iv) the Company or any ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v) the Company or any ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and any such event or events described in clauses (i) through (vi) above, either individually or together with any other such event or events, would reasonably be expected to have a Material Adverse Effect; or

 

 

 

 

  

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(k)  any Guaranty Agreement shall cease to be in full force and effect, or the Company or any Guarantor shall contest or deny the validity or enforceability of, or deny that it has any liability or obligations under, any Guaranty Agreement.

 

As used in Section 11(j), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the respective meanings assigned to such terms in section 3 of ERISA.

 

	
12.

	
REMEDIES ON DEFAULT, ETC.

 

	
12.1.

	
Acceleration.

 

(a)           If an Event of Default with respect to the Company described in Section 11(g) or (h) (other than an Event of Default described in clause (i) of Section 11(g) or described in clause (vi) of Section 11(g) by virtue of the fact that such clause encompasses clause (i) of Section 11(g)) has occurred, all the Notes then outstanding shall automatically become immediately due and payable.

 

(b)           If any other Event of Default has occurred and is continuing, the Required Holders may at any time at its or their option, by notice or notices to the Company, declare all the Notes then outstanding to be immediately due and payable.

 

(c)           If any Event of Default described in Section 11(a) or (b) of Section 11 has occurred and is continuing, any holder or holders of Notes at the time outstanding affected by such Event of Default may at any time, at its or their option, by notice or notices to the Company, declare all the Notes held by it or them to be immediately due and payable.

 

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by declaration, such Notes will forthwith mature and the entire unpaid principal amount of such Notes, plus (x) all accrued and unpaid interest thereon (including, but not limited to, interest accrued thereon at the Default Rate) and (y) the Make-Whole Amount determined in respect of such principal amount (to the full extent permitted by applicable law), shall all be immediately due and payable, in each and every case without presentment, demand, protest or further notice, all of which are hereby waived.  The Company acknowledges, and the parties hereto agree, that each holder of a Note has the right to maintain its investment in the Notes free from repayment by the Company (except as herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the Company in the event that the Notes are prepaid or are accelerated as a result of an Event of Default, is intended to provide compensation for the deprivation of such right under such circumstances.

 

 

 

 

  

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12.2.

	
Other Remedies.

 

If any Default or Event of Default has occurred and is continuing, and irrespective of whether any Notes have become or have been declared immediately due and payable under Section 12.1, the holder of any Note at the time outstanding may proceed to protect and enforce the rights of such holder by an action at law, suit in equity or other appropriate proceeding, whether for the specific performance of any agreement contained herein or in any Note, or for an injunction against a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted hereby or thereby or by law or otherwise.

 

	
12.3.

	
Rescission.

 

At any time after any Notes have been declared due and payable pursuant to Section 12.1(b) or (c), the Required Holders, by written notice to the Company, may rescind and annul any such declaration and its consequences if (a) the Company has paid all overdue interest on the Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid other than by reason of such declaration, and all interest on such overdue principal and Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in respect of the Notes, at the Default Rate, (b) neither the Company nor any other Person shall have paid any amounts that have become due solely by reason of such declaration, (c) all Events of Default and Defaults, other than non-payment of amounts that have become due solely by reason of such declaration, have been cured or have been waived pursuant to Section 17, and (d) no judgment or decree has been entered for the payment of any monies due pursuant hereto or to the Notes.  No rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of Default or Default or impair any right consequent thereon.

 

	
12.4.

	
No Waivers or Election of Remedies, Expenses, Etc.

 

No course of dealing and no delay on the part of any holder of any Note in exercising any right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s rights, powers or remedies.  No right, power or remedy conferred by this Agreement or by any Note upon any holder thereof shall be exclusive of any other right, power or remedy referred to herein or therein or now or hereafter available at law, in equity, by statute or otherwise.  Without limiting the obligations of the Company under Section 15, the Company will pay to the holder of each Note on demand such further amount as shall be sufficient to cover all costs and expenses of such holder incurred in any enforcement or collection under this Section 12, including, without limitation, reasonable attorneys’ fees, expenses and disbursements.

 

	
13.

	
REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

 

	
13.1.

	
Registration of Notes.

 

The Company shall keep at its principal executive office a register for the registration and registration of transfers of Notes.  The name and address of each holder of one or more Notes, each transfer thereof and the name and address of each transferee of one or more Notes shall be registered in such register.  Prior to due presentment for registration of transfer, the Person in whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the contrary.  The Company shall give to any holder of a Note that is an Institutional Investor promptly upon request therefor, a complete and correct copy of the names and addresses of all registered holders of Notes.

 

 

 

 

  

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13.2.

	
Transfer and Exchange of Notes.

 

Upon surrender of any Note to the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) for registration of transfer or exchange (and in the case of a surrender for registration of transfer accompanied by a written instrument of transfer duly executed by the registered holder of such Note or such holder’s attorney duly authorized in writing and accompanied by the relevant name, address and other information for notices of each transferee of such Note or part thereof), within 10 Business Days thereafter, the Company shall execute and deliver, at the Company’s expense (except as provided below), one or more new Notes (as requested by the holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid principal amount of the surrendered Note.  Each such new Note shall be payable to such Person as such holder may request and shall be substantially in the form of Exhibit 1.  Each such new Note shall be dated and bear interest from the date to which interest shall have been paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have been paid thereon.  The Company may require payment of a sum sufficient to cover any stamp tax or governmental charge imposed in respect of any such transfer of Notes.  Notes shall not be transferred in denominations of less than $250,000, provided that if necessary to enable the registration of transfer by a holder of its entire holding of Notes, one Note may be in a denomination of less than $250,000.  Any transferee, by its acceptance of a Note registered in its name (or the name of its nominee), shall be deemed to have made the representation set forth in Section 6.2.

 

	
13.3.

	
Replacement of Notes.

 

Upon receipt by the Company at the address and to the attention of the designated officer (all as specified in Section 18(iii)) of evidence reasonably satisfactory to it of the ownership of and the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an Institutional Investor, notice from such Institutional Investor of such ownership and such loss, theft, destruction or mutilation), and

 

(a)           in the case of loss, theft or destruction, of indemnity reasonably satisfactory to it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser or another holder of a Note with a minimum net worth of at least $50,000,000 or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall be deemed to be satisfactory), or

 

(b)           in the case of mutilation, upon surrender and cancellation thereof,

 

 

 

 

  

34

  

 

 

 

 

within 10 Business Days thereafter, the Company at its own expense shall execute and deliver, in lieu thereof, a new Note, dated and bearing interest from the date to which interest shall have been paid on such lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or mutilated Note if no interest shall have been paid thereon.

 

	
14.

	
PAYMENTS ON NOTES.

 

	
14.1.

	
Place of Payment.

 

Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest becoming due and payable on the Notes shall be made in Chicago, Illinois, at the principal office of JPMorgan Chase Bank, N.A. in such jurisdiction.  The Company may at any time, by notice to each holder of a Note, change the place of payment of the Notes so long as such place of payment shall be either the principal office of the Company in such jurisdiction or the principal office of a bank or trust company in such jurisdiction.

 

	
14.2.

	
Home Office Payment.

 

So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and at the address specified for such purpose below such Purchaser’s name in Schedule A, or by such other method or at such other address as such Purchaser shall have from time to time specified to the Company in writing for such purpose, without the presentation or surrender of such Note or the making of any notation thereon, except that upon written request of the Company made concurrently with or reasonably promptly after payment or prepayment in full of any Note, such Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request, to the Company at its principal executive office or at the place of payment most recently designated by the Company pursuant to Section 14.1.  Prior to any sale or other disposition of any Note held by a Purchaser or its nominee, such Purchaser will at its election, either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to Section 13.2.  The Company will afford the benefits of this Section 14.2 to any Institutional Investor that is the direct or indirect transferee of any Note purchased by a Purchaser under this Agreement and that has made the same agreement relating to such Note as the Purchasers have made in this Section 14.2.

 

	
15.

	
EXPENSES, ETC.

 

	
15.1.

	
Transaction Expenses.

 

(a)           Whether or not the transactions contemplated hereby are consummated, the Company will pay all costs and expenses (including reasonable attorneys’ fees of a special counsel and, if reasonably required by the Required Holders, local or other counsel) incurred by the Purchasers and each other holder of a Note in connection with such transactions and in connection with any amendments, waivers or consents under or in respect of this Agreement or the Notes (whether or not such amendment, waiver or consent becomes effective), including, without limitation: (i) the costs and expenses incurred in enforcing or defending (or determining whether or how to enforce or defend) any rights under this Agreement or the Notes or in responding to any subpoena or other legal process or informal investigative demand issued in connection with this Agreement or the Notes, or by reason of being a holder of any Note, (ii) the costs and expenses, including financial advisors’ fees, incurred in connection with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any work-out or restructuring of the transactions contemplated hereby and by the Notes and (iii) the costs and expenses incurred in connection with the initial filing of this Agreement and all related documents and financial information with the SVO, provided that such costs and expenses under this clause (c) shall not exceed $5,000.  The Company will pay, and will save each Purchaser and each other holder of a Note harmless from, all claims in respect of any fees, costs or expenses if any, of brokers and finders (other than those, if any, retained by a Purchaser or other holder in connection with its purchase of the Notes).

 

 

 

 

  

35

  

 

 

 

 

(b)           Without limiting the provisions of Section 15.1(a), the Company agrees to indemnify each holder and its Affiliates, and each of their directors, officers, employees, agents and representatives (each an “Indemnified Person”), against all losses, claims, damages, penalties, judgments, liabilities and expenses (including, without limitation, all reasonable expenses of litigation or preparation therefor) which any of them pay or incur arising out of or relating to this Agreement, the transactions contemplated hereby or the direct or indirect application or proposed application of the proceeds of the issuance of the Notes hereunder or any matter related to any thereof, except to the extent arising from such Indemnified Person’s gross negligence, willful misconduct or bad faith.

 

Promptly after the receipt by an Indemnified Person of notice of the commencement of any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand (a “Proceeding”), such Indemnified Person will, if a claim is to be made hereunder against the Company in respect thereof, notify the Company in writing of the commencement thereof; provided that (i) the failure to so notify the Company will not relieve it from any liability which it may have hereunder except to the extent it has been materially prejudiced by such failure and (ii) the failure to so notify the Company will not relieve it from any liability which it may have to an Indemnified Person otherwise than on account of this indemnity agreement.  In case any such Proceedings are brought against any Indemnified Person and it notifies the Company of the commencement thereof, the Company will be entitled to participate therein and, to the extent that it may elect by written notice delivered to such Indemnified Person, to assume the defense thereof, with counsel reasonably satisfactory to such Indemnified Person, provided that if the defendants in any such Proceedings include both such Indemnified Person and the Company and such Indemnified Person shall have concluded, upon the advice of counsel, that the use of counsel chosen by the Company to represent the Indemnified Person would present such counsel with a  conflict of interest, such Indemnified Person shall have the right to select separate counsel reasonably acceptable to the Company to assert such legal defenses and to otherwise participate in the defense of such Proceedings on behalf of such Indemnified Person.  Upon receipt of notice from the Company to such Indemnified Person of their election so to assume the defense of such Proceedings and approval by such Indemnified Person of counsel, the Company shall not be liable to such Indemnified Person for expenses incurred by such Indemnified Person in connection with the defense thereof (other than reasonable costs of investigation) unless (i) such Indemnified Person shall have employed separate counsel in connection with the assertion of legal defenses in accordance with the proviso to the immediately preceding sentence (it being understood, however, that the Company shall not be liable for the expenses of more than one separate counsel (in addition to one local counsel), approved by the Company, representing the Indemnified Persons who are parties to such Proceedings), (ii) the Company shall not have employed counsel reasonably satisfactory to such Indemnified Person to represent such Indemnified Person within a reasonable time after notice to the Company of commencement of the Proceedings or (iii) the Company has authorized in writing the employment of counsel for such Indemnified Person.

 

 

 

 

  

36

  

 

 

 

 

The Company shall not be liable for any settlement of any Proceedings effected without its written consent (which consent will not be unreasonably withheld).  The Company shall not, without the prior written consent of an Indemnified Person (which consent shall not be unreasonably withheld), effect any settlement of any pending or threatened Proceedings in respect of which indemnity could have been sought hereunder by such Indemnified Person unless such settlement (i) includes an unconditional release of such Indemnified Person in form and substance satisfactory to such Indemnified Person from all liability on claims that are the subject matter of such Proceedings and (ii) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.

 

	
15.2.

	
Survival.

 

The obligations of the Company under this Section 15 will survive the payment or transfer of any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and the termination of this Agreement.

 

	
16.

	
SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

 

All representations and warranties contained herein shall survive the execution and delivery of this Agreement and the Notes, the purchase or transfer by any Purchaser of any Note or portion thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent holder of a Note, regardless of any investigation made at any time by or on behalf of such Purchaser or any other holder of a Note.  All statements contained in any certificate or other instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed representations and warranties of the Company under this Agreement.  Subject to the preceding sentence, this Agreement and the Notes embody the entire agreement and understanding between each Purchaser and the Company and supersede all prior agreements and understandings relating to the subject matter hereof.

 

	
17.

	
AMENDMENT AND WAIVER.

 

	
17.1.

	
Requirements.

 

This Agreement and the Notes may be amended, and the observance of any term hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with) the written consent of the Company and the Required Holders, except that (a) no amendment or waiver of any of the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof, or any defined term (as it is used therein), will be effective as to any Purchaser unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without the written consent of the holder of each Note at the time outstanding affected thereby, (i) subject to the provisions of Section 12 relating to acceleration or rescission, change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage of the principal amount of the Notes the holders of which are required to consent to any such amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20.

 

 

 

 

  

37

  

 

 

 

 

 

	
17.2.

	
Solicitation of Holders of Notes.

 

(a)           Solicitation.  The Company will provide each holder of the Notes (irrespective of the amount of Notes then owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof or of the Notes.  The Company will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 17 to each holder of outstanding Notes promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.

 

(b)           Payment.  The Company will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder of Notes as consideration for or as an inducement to the entering into by any holder of Notes or any waiver or amendment of any of the terms and provisions hereof unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder of Notes then outstanding even if such holder did not consent to such waiver or amendment.

 

(c)           Consent in Contemplation of Transfer.  Any consent made pursuant to this Section 17.2 by the holder of any Note that has transferred or has agreed to transfer such Note to the Company, any Subsidiary or any Affiliate of the Company and has provided or has agreed to provide such written consent as a condition to such transfer shall be void and of no force or effect except solely as to such holder, and any amendments effected or waivers granted or to be effected or granted that would not have been or would not be so effected or granted but for such consent (and the consents of all other holders of Notes that were acquired under the same or similar conditions) shall be void and of no force or effect except solely as to such transferring holder.

 

	
17.3.

	
Binding Effect, Etc.

 

Any amendment or waiver consented to as provided in this Section 17 applies equally to all holders of Notes and is binding upon them and upon each future holder of any Note and upon the Company without regard to whether such Note has been marked to indicate such amendment or waiver.  No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default or Event of Default not expressly amended or waived or impair any right consequent thereon.  No course of dealing between the Company and the holder of any Note nor any delay in exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such Note.  As used herein, the term “this Agreement” and references thereto shall mean this Agreement as it may from time to time be amended or supplemented.

 

 

 

 

  

38

  

 

 

 

 

 

	
17.4.

	
Notes held by Company, Etc.

 

Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Agreement or the Notes, or have directed the taking of any action provided herein or in the Notes to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding.

 

	
18.

	
NOTICES.

 

All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with charges prepaid).  Any such notice must be sent:

 

(i)           if to any Purchaser or its nominee, to such Purchaser or nominee at the address specified for such communications in Schedule A, or at such other address as such Purchaser or nominee shall have specified to the Company in writing,

 

(ii)           if to any other holder of any Note, to such holder at such address as such other holder shall have specified to the Company in writing, or

 

(iii)           if to the Company, to the Company at its address set forth at the beginning hereof to the attention of the Chief Financial Officer, with a separate copy being sent to the attention of the Corporate Counsel, or at such other address or to such other officers as the Company shall have specified to the holder of each Note in writing.

 

Notices under this Section 18 will be deemed given only when actually received.

 

	
19.

	
REPRODUCTION OF DOCUMENTS.

 

This Agreement and all documents relating thereto, including, without limitation, (a) consents, waivers and modifications that may hereafter be executed, (b) documents received by any Purchaser at the Closings (except the Notes themselves), and (c) financial statements, certificates and other information previously or hereafter furnished to any Purchaser, may be reproduced by such Purchaser by any photographic, photostatic, electronic, digital, or other similar process and such Purchaser may destroy any original document so reproduced.  The Company agrees and stipulates that, to the extent permitted by applicable law, any such reproduction shall be admissible in evidence as the original itself in any judicial or administrative proceeding (whether or not the original is in existence and whether or not such reproduction was made by such Purchaser in the regular course of business) and any enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in evidence.  This Section 19 shall not prohibit the Company or any other holder of Notes from contesting any such reproduction to the same extent that it could contest the original, or from introducing evidence to demonstrate the inaccuracy of any such reproduction.

 

 

 

  

39

  

 

 

 

 

 

	
20.

	
CONFIDENTIAL INFORMATION.

 

For the purposes of this Section 20, “Confidential Information” means information delivered to any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was clearly marked or labeled or otherwise adequately identified in writing when received by such Purchaser as being confidential information of the Company or such Subsidiary, provided that such term does not include information that (a) was publicly known or otherwise known to such Purchaser prior to the time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such Purchaser or any person acting on such Purchaser’s behalf, (c) otherwise becomes known to such Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes financial statements delivered to such Purchaser under Section 7.1 that are otherwise publicly available.  Each Purchaser will maintain the confidentiality of such Confidential Information in accordance with procedures adopted by such Purchaser in good faith to protect confidential information of third parties delivered to such Purchaser, provided that such Purchaser may deliver or disclose Confidential Information to (i) its directors, trustees, officers, employees, agents, attorneys and affiliates (to the extent such disclosure reasonably relates to the administration of the investment represented by its Notes), (ii) its financial advisors and other professional advisors who agree to hold confidential the Confidential Information substantially in accordance with the terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional Investor to which it sells or offers to sell such Note or any part thereof or any participation therein (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase any security of the Company (if such Person has agreed in writing prior to its receipt of such Confidential Information to be bound by the provisions of this Section 20), (vi) any federal or state regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or, in each case, any similar organization, or any nationally recognized rating agency that requires access to information about such Purchaser’s investment portfolio, or (viii) any other Person to which such delivery or disclosure may be necessary or appropriate (w) to effect compliance with any law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or other legal process, (y) in connection with any litigation to which such Purchaser is a party or (z) if an Event of Default has occurred and is continuing, to the extent such Purchaser may reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement or for the protection of the rights and remedies under such Purchaser’s Notes and this Agreement.  Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by and to be entitled to the benefits of this Section 20 as though it were a party to this Agreement.  On reasonable request by the Company in connection with the delivery to any holder of a Note of information required to be delivered to such holder under this Agreement or requested by such holder (other than a holder that is a party to this Agreement or its nominee), such holder will enter into an agreement with the Company embodying the provisions of this Section 20.

 

 

 

 

  

40

  

 

 

 

 

	
21.

	
SUBSTITUTION OF PURCHASER.

 

Each Purchaser shall have the right to substitute any one of its Affiliates as the purchaser of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which notice shall be signed by both such Purchaser and such Affiliate, shall contain such Affiliate’s agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the accuracy with respect to it of the representations set forth in Section 6.  Upon receipt of such notice, any reference to such Purchaser in this Agreement (other than in this Section 21) shall be deemed to refer to such Affiliate in lieu of such original Purchaser.  In the event that such Affiliate is so substituted as a Purchaser hereunder and such Affiliate thereafter transfers to such original Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement (other than in this Section 21) shall no longer be deemed to refer to such Affiliate, but shall refer to such original Purchaser, and such original Purchaser shall again have all the rights of an original holder of the Notes under this Agreement.

 

	
22.

	
MISCELLANEOUS.

 

	
22.1.

	
Successors and Assigns.

 

All covenants and other agreements contained in this Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns (including, without limitation, any subsequent holder of a Note) whether so expressed or not.

 

	
22.2.

	
Payments Due on Non-Business Days.

 

Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting the requirement in Section 8.4 that the notice of any optional prepayment specify a Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole Amount or interest on any Note that is due on a date other than a Business Day shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on such next succeeding Business Day; provided that if the maturity date of any Note is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional days elapsed in the computation of interest payable on such next succeeding Business Day.

 

	
22.3.

	
Accounting Terms.

 

All accounting terms used herein which are not expressly defined in this Agreement have the meanings respectively given to them in accordance with GAAP.  Except as otherwise specifically provided herein, (i) all computations made pursuant to this Agreement shall be made in accordance with GAAP, and (ii) all financial statements shall be prepared in accordance with GAAP.  Notwithstanding the foregoing or any other provision of this Agreement providing for any amount to be determined in accordance with GAAP, for purposes of determining compliance with the covenants contained in this Agreement, any election by the Company to measure an item of Indebtedness (other than of the type described in clause (f) of the definition thereof) using fair value (as permitted by Accounting Standards Codification 820-12, formerly known as Statements of Financial Accounting Standards No. 159, or any similar accounting standard) shall be disregarded and such determination shall be made as if such election had not been made.

 

 

 

  

41

  

 

 

 

	
22.4.

	
Severability.

 

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction.

 

	
22.5.

	
Construction, Etc.

 

Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with any other covenant.  Where any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person.

 

For the avoidance of doubt, all Schedules and Exhibits attached to this Agreement shall be deemed to be a part hereof.

 

	
22.6.

	
Counterparts.

 

This Agreement may be executed in any number of counterparts, each of which shall be an original but all of which together shall constitute one instrument.  Each counterpart may consist of a number of copies hereof, each signed by less than all, but together signed by all, of the parties hereto.

 

	
22.7.

	
Governing Law.

 

This Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of Illinois excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

 

	
22.8.

	
Jurisdiction.

 

(a)           The Company irrevocably submits to the non-exclusive jurisdiction of the courts of the State of Illinois or in the United States District Court for the Northern District of Illinois over any suit, action or proceeding arising out of or relating to this Agreement or the Notes.  To the fullest extent permitted by applicable law, the Company irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

 

 

 

  

42

  

 

 

 

(b)           The Company consents to process being served by or on behalf of any holder of Notes in any suit, action or proceeding of the nature referred to in Section 22.8(a) by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified in Section 18 or at such other address of which such holder shall then have been notified pursuant to said Section.  The Company agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it.  Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service.

 

(c)           Nothing in this Section 22.8 shall affect the right of any holder of a Note to serve process in any manner permitted by law, or limit any right that the holders of any of the Notes may have to bring proceedings against the Company in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.

 

* * * * *

 

 

 

 

 

 

  

43

  

 

 

 

 

 

If you are in agreement with the foregoing, please sign the form of agreement on a counterpart of this Agreement and return it to the Company, whereupon this Agreement shall become a biding agreement between you and the Company.

                     

 

	Very Truly Yours,	 
	 	 
	CASEY’S GENERAL STORES, INC.	 
	 	 	 
	
By:

	  /s/ Robert J. Myers	 
	
Name:

	
  Robert J. Myers

	 
	Title:  	  President and Chief Executive Officer	 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

The foregoing is agreed to as of the date hereof:

THE PRUDENTIAL INSURANCE COMPANY

  OF AMERICA

 

 

	
By:

	  /s/ David S. Quackenbush
	
 

	
           Vice President

PRUCO LIFE INSURANCE COMPANY

 

 

	
By:

	  /s/ David S. Quackenbush
	
 

	
           Vice President

PRUCO LIFE INSURANCE COMPANY OF

  NEW JERSEY

 

	
By:

	  /s/ David S. Quackenbush
	
 

	
           Vice President

PRUDENTIAL RETIREMENT INSURANCE

  AND ANNUITY COMPANY

 

	
By:

	Prudential Investment Management, Inc., as investment manager
	  	 

 

	 	
By:

	  /s/ David S. Quackenbush
	 	
 

	
           Vice President

PHYSICIANS MUTUAL INSURANCE COMPANY

 

	
By:

	Prudential Private Placement Investors, L.P. (as Investment Advisor) 
	  	 

 

	
By:

	Prudential Private Placement Investors, Inc. (as its General Partner)
	  	 

 

	 	
By:

	  /s/ David S. Quackenbush
	 	
 

	
           Vice President

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

 

COMPANION LIFE INSURANCE COMPANY

 

	
By:

	Prudential Private Placement Investors,  L.P. (as Investment Advisor)
	  	 

 

	
By:

	 Prudential Private Placement Investors, Inc. (as its General Partner)
	  	 

 

	 	
By:

	  /s/ David S. Quackenbush
	 	
 

	
           Vice President

UNITED OF OMAHA LIFE INSURANCE

  COMPANY

 

	
By:

	Prudential Private Placement Investors,  L.P. (as Investment Advisor)
	  	 

 

	
By:

	Prudential Private Placement Investors, Inc. (as its General Partner)
	  	 

 

	 	
By:

	  /s/ David S. Quackenbush
	 	
 

	
           Vice President

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

	
ING LIFE INSURANCE AND ANNUITY COMPANY

ING USA ANNUITY AND LIFE INSURANCE COMPANY

RELIASTAR LIFE INSURANCE COMPANY

RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

	 
	By:  ING Investment Management LLC, as Agent	 
	 	 	 
	
By:

	  /s/ Christopher P. Lyons	 
	
Name:

	
  Christopher P. Lyons

	 
	Title:  	  Senior Vice President	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

	
AVIVA LIFE AND ANNUITY COMPANY

	 
	By:  Aviva Investors North America, Inc., its authorized attorney in-fact	 
	 	 	 
	
By:

	  /s/ Rogers D. Fors	 
	
Name:

	
  Roger D. Fors

	 
	Title:  	  VP-Private Fixed Income	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

	

ALLSTATE INSURANCE COMPANY

	 
	 	 
	 	 	 
	
By:

	  /s/ Mark W. (Sam) Davis	 
	
Name:

	
  Mark W. (Sam) Davis

	 
	 	  	 

	
By:

	  /s/ Steven E. Shebik	 
	
Name:

	
  Steven E. Shebik

	 
	Authorized Signatories	 

	

ALLSTATE LIFE INSURANCE COMPANY

	 
	 	 
	 	 	 
	
By:

	  /s/ Mark W. (Sam) Davis	 
	
Name:

	
  Mark W. (Sam) Davis

	 
	 	  	 

	
By:

	  /s/ Steven E. Shebik	 
	
Name:

	
  Steven E. Shebik

	 
	Authorized Signatories	 

	

ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK

	 
	 	 
	 	 	 
	
By:

	  /s/ Mark W. (Sam) Davis	 
	
Name:

	
  Mark W. (Sam) Davis

	 
	 	  	 

	
By:

	  /s/ Steven E. Shebik	 
	
Name:

	
  Steven E. Shebik

	 
	Authorized Signatories	 

 

	

AMERICAN HERITAGE LIFE INSURANCE COMPANY

	 
	 	 
	 	 	 
	
By:

	  /s/ Mark W. (Sam) Davis	 
	
Name:

	
  Mark W. (Sam) Davis

	 
	 	  	 

	
By:

	  /s/ Steven E. Shebik	 
	
Name:

	
  Steven E. Shebik

	 
	Authorized Signatories	 

 

 

 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

	
NEW YORK LIFE INSURANCE COMPANY

	 
	 
	 	 	 
	
By:

	  /s/ A. Post Howland	 
	
Name:

	
  A. Post Howland

	 
	Title:  	  Director	 

	

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

	 
	By:  New York Life Investment Management LLC, its Investment Manager
	 	 	 
	
By:

	  /s/ A. Post Howland	 
	
Name:

	
  A. Post Howland

	 
	Title:  	  Director	 

	

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)

	 
	By:  New York Life Investment Management LLC, its Investment Manager
	 	 	 
	
By:

	  /s/ A. Post Howland	 
	
Name:

	
  A. Post Howland

	 
	Title:  	  Director	 

	

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)

	 
	By:  New York Life Investment Management LLC, its Investment Manager
	 	 	 
	
By:

	  /s/ A. Post Howland	 
	
Name:

	
  A. Post Howland

	 
	Title:  	  Director	 

	

NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION 

INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3)

	 
	By:  New York Life Investment Management LLC, its Investment Manager
	 	 	 
	
By:

	  /s/ A. Post Howland	 
	
Name:

	
  A. Post Howland

	 
	Title:  	  Director	 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

	

HARTFORD LIFE INSURANCE COMPANY

HARTFORD ACCIDENT AND INDEMNITY COMPANY

HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY

HARTFORD LIFE AND ANNUITY INSURANCE COMPANY

	 
	
By:  Hartford Investment Management Company

        their Agent and Attorney-in-Fact

	 	 	 
	
By:

	
  /s/ Robert M. Mills

	 
	
Name:

	
  Robert M. Mills

	 
	Title:  	  Vice President	 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

 

 

  

 

	

METROPOLITAN LIFE INSURANCE COMPANY

METLIFE INVESTORS INSURANCE COMPANY

by Metropolitan Life Insurance Company, its Investment Manager

METLIFE INSURANCE COMPANY OF CONNECTICUT

by Metropolitan Life Insurance Company, its Investment Manager

FIRST METLIFE INVESTORS INSURANCE COMPANY

by Metropolitan Life Insurance Company, its Investment Manager

METLIFE INVESTORS USA INSURANCE COMPANY

by Metropolitan Life Insurance Company, its Investment Manager

METROPOLITAN TOWER LIFE INSURANCE COMPANY

by Metropolitan Life Insurance Company, its Investment Manager

	 
	 	 	 
	 	 	 
	
By:

	  /s/ C. Scott Inglis	 
	
Name:

	
  C. Scott Inglis

	 
	Title:  	  Managing Director	 

	

UNION FIDELITY LIFE INSURANCE COMPANY

	 
	
By:  MetLife Investment Advisors Company, LLC, its investment adviser

 
	 	 	 
	 	 	 
	
By:

	  /s/ C. Scott Inglis	 
	
Name:

	
  C. Scott Inglis

	 
	Title:  	  Managing Director	 

 

 

 

 

 

 

 

 

 

 

 

 

Note Purchase Agreement

  

  

  

 

SCHEDULE A

 

INFORMATION RELATING TO PURCHASERS

	 	 	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
THE PRUDENTIAL INSURANCE COMPANY OF

  AMERICA

	
 

$42,400,000.00

	
 

$38,810,000.00

	  	  	  	
$3,590,000.00

	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
Account Name:  Prudential Managed Portfolio

Account No.:  P86188 (please do not include spaces) (in the case of payments on account of the Note originally issued in the principal amount of $38,810,000.00)

	  	  
	  	  	  	  
	  	
Account Name:  Privest Plus

Account No.:  P86288 (please do not include spaces) (in the case of payments on account of the Note originally issued in the principal amount of $3,590,000.00)

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

New York, NY

ABA No.:  021-000-021

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, Security No. INV11260, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  

 

 

 

 

 

 

  

SCHEDULE A - 1 

  

 

 

 

 

 

	
(2)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
The Prudential Insurance Company of America

c/o Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	  	  
	  	  	  	  
	  	
Attention:  Manager, Billings and Collections

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
The Prudential Insurance Company of America

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

	  	  
	  	  	  	  
	  	
Attention:  Managing Director

	  	  
	  	  	  	  
	
(4)

	
Recipient of telephonic prepayment notices:

	  	  
	  	  	  	  
	  	
Manager, Trade Management Group

	  	  
	  	  	  	  
	  	
Telephone:  (973) 367-3141

	  	  
	  	
Facsimile:   (888) 889-3832

	  	  
	  	  	  	  
	
(5)

	
Address for Delivery of Notes and Closing Sets:

	  	  
	  	  	  	  
	  	
Send physical security by nationwide overnight delivery service to:

 

Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Armando M. Gamboa

Telephone:  (312) 540-4203

	  	  
	  	  	  	  
	
(6)

	
Tax Identification No.:  22-1211670

	  	  

 

 

 

 

 

  

SCHEDULE A - 2 

  

 

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
Note

Denomination(s)

	  	  	  	  
	  	
 

PRUCO LIFE INSURANCE COMPANY

	
 

$18,600,000.00

	
 

$18,600,000.00

	  	  	  	  
	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

New York, NY

ABA No.:  021-000-021

	  	  
	  	
Account No.:  P86192 (please do not include spaces)

Account Name:  Pruco Life Private Placement

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, Security No. INV11260, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
Pruco Life Insurance Company

c/o The Prudential Insurance Company of America

c/o Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	  	  
	  	  	  	  
	  	
Attention:  Manager, Billings and Collections

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Pruco Life Insurance Company

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

	  	  
	  	  	  	  
	  	
Attention:  Managing Director

	  	  
	  	  	  	  

 

 

 

 

 

 

  

SCHEDULE A - 3 

  

 

 

 

 

 

 

	
(4)

	
Recipient of telephonic prepayment notices:

	  	  
	  	  	  	  
	  	
Manager, Trade Management Group

	  	  
	  	  	  	  
	  	
Telephone:  (973) 367-3141

	  	  
	  	
Facsimile:   (888) 889-3832

	  	  
	  	  	  	  
	
(5)

	
Address for Delivery of Notes:

	  	  
	  	  	  	  
	  	
Send physical security by nationwide overnight delivery service to:

 

Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Armando M. Gamboa

Telephone:  (312) 540-4203

	  	  
	  	  	  	  
	
(6)

	
Tax Identification No.:  22-1944557

	  	  

 

 

 

 

  

SCHEDULE A - 4 

  

 

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
 

PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY

	
 

$6,000,000.00

	
 

$6,000,000.00

	  	  	  	  
	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

New York, NY

ABA No.:  021-000-021

	  	  
	  	
Account No.:  P86202 (please do not include spaces)

Account Name:  Pruco Life of New Jersey Private Placement

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, Security No. INV11260, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
Pruco Life Insurance Company of New Jersey

c/o The Prudential Insurance Company of America

c/o Investment Operations Group

Gateway Center Two, 10th Floor

100 Mulberry Street

Newark, NJ 07102-4077

	  	  
	  	  	  	  
	  	
Attention:  Manager, Billings and Collections

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Pruco Life Insurance Company of New Jersey

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

	  	  
	  	  	  	  
	  	
Attention:  Managing Director

	  	  
	  	  	  	  

 

 

 

 

 

 

  

SCHEDULE A - 5 

  

 

 

 

 

 

 

	
(4)

	
Recipient of telephonic prepayment notices:

	  	  
	  	  	  	  
	  	
Manager, Trade Management Group

	  	  
	  	  	  	  
	  	
Telephone:  (973) 367-3141

	  	  
	  	
Facsimile:   (888) 889-3832

	  	  
	  	  	  	  
	
(5)

	
Address for Delivery of Notes:

	  	  
	  	  	  	  
	  	
Send physical security by nationwide overnight delivery service to:

 

Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Armando M. Gamboa

Telephone:  (312) 540-4203

	  	  
	  	  	  	  
	
(6)

	
Tax Identification No.:  22-2426091

	  	  

 

 

 

 

 

 

  

SCHEDULE A - 6 

  

 

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
PRUDENTIAL RETIREMENT INSURANCE AND ANNUITY COMPANY

	
$40,000,000.00

	
$40,000,000.00

	  	  	  	  
	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JP Morgan Chase Bank

New York, NY

ABA No. 021000021

	  	  
	  	  	  	  
	  	
Account Name:  PRIAC

Account No. P86329 (please do not include spaces)

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, Security No. INV11260, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
Prudential Retirement Insurance and Annuity Company

c/o Prudential Investment Management, Inc.

Private Placement Trade Management

PRIAC Administration

Gateway Center Four, 7th Floor

100 Mulberry Street

Newark, NJ 07102

 

Telephone:  (973) 802-8107

Facsimile:   (888) 889-3832

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Prudential Retirement Insurance and Annuity Company

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

	  	  
	  	  	  	  
	  	
Attention:  Managing Director

	  	  
	  	  	  	  

 

 

 

 

 

  

SCHEDULE A - 7 

  

 

 

 

 

 

 

	
(4)

	
Address for Delivery of Notes and Closing Sets:

	  	  
	  	  	  	  
	  	
Send physical security by nationwide overnight delivery service to:

 

Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Armando M. Gamboa

Telephone:  (312) 540-4203

	  	  
	  	  	  	  
	
(5)

	
Tax Identification No.:  06-1050034

	  	  

 

 

 

 

 

  

SCHEDULE A - 8 

  

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
PHYSICIANS MUTUAL INSURANCE COMPANY

	
$3,000,000.00

	
$3,000,000.00

	  	  	  	  
	  	
Notes/Certificates to be registered in the name of:

How & Co.

	  	  
	  	  	  	  
	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
The Northern Trust Company

Chicago, IL

ABA No.:  071000152

	  	  
	  	  	  	  
	  	
Account Name:  Physicians Mutual Insurance Company

Account No.:  26-98845

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
All notices of payments and written confirmations of such wire transfers:

	  	  
	  	  	  	  
	  	
Physicians Mutual Insurance Company

2600 Dodge Street

Omaha, NE 68131

 

Attention:  Steve Scanlan

 

Facsimile:  (402) 633-1096

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Prudential Private Placement Investors, L.P.

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Managing Director

	  	  
	  	  	  	  

 

 

 

 

  

SCHEDULE A - 9 

  

 

 

 

 

 

	
(4)

	
Address for Delivery of Notes:

	  	  
	  	  	  	  
	  	
(a)           Send physical security by nationwide overnight delivery

service to:

 

The Northern Trust Company of New York

Harborside Financial Center 10, Suite 1401

3 Second Street

Jersey City, NJ 07311

 

Attention:  Jose Mero & Ruby Vega

 

Please include in the cover letter accompanying the Notes a reference to the Purchaser's account number (Physicians Mutual Insurance Company-Prudential; Account Number For allocations to Physicians LTC:  Account Number:  26-98845).

 

(b)           Send copy by nationwide overnight delivery service to:

 

Prudential Capital Group

Gateway Center 4

100 Mulberry, 7th Floor

Newark, NJ 07102

 

Attention:  Trade Management, Manager

Telephone:  (973) 367-3141

	  	  
	  	  	  	  
	
(5)

	
Tax Identification No.:  47-0270450

	  	  
	  	  	  	  

 

 

 

 

 

  

SCHEDULE A - 10 

  

 

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
COMPANION LIFE INSURANCE COMPANY

	
$1,000,000.00

	
$1,000,000.00

	  	  	  	  
	
(1)

	
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

ABA No. 021-000-021

Private Income Processing

For Credit to account:  900-9000200

For further credit to Company Name:  Companion Life Insurance Company

For further credit to Account Number:  G09589

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

14201 Dallas Parkway - 13th Floor

Dallas, TX 75254-2917

 

Attention:  Income Processing - G. Ruiz

a/c:  G09589

	  	  
	  	  	  	  
	
(3)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Prudential Private Placement Investors, L.P.

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Managing Director

	  	  
	  	  	  	  

 

 

 

 

 

  

SCHEDULE A - 11 

  

 

 

 

 

 

	
(4)

	
Address for Delivery of Notes:

	  	  
	  	  	  	  
	  	
(a)           Send physical security by nationwide overnight delivery

service to:

 

JPMorgan Chase Bank

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

 

Attention:  Physical Receive Department

 

Please include in the cover letter accompanying theNotes a reference to the Purchaser's account number (Companion Life Insurance Company; Account Number: G09589).

 

(b)           Send copy by nationwide overnight delivery service to:

 

Prudential Capital Group

Gateway Center 4

100 Mulberry, 7th Floor

Newark, NJ 07102

 

Attention:  Trade Management, Manager

Telephone:  (973) 367-3141

	  	  
	  	  	  	  
	
(5)

	
Tax Identification No.:  13-1595128

	  	  
	  	  	  	  

 

 

 

 

 

  

SCHEDULE A - 12 

  

 

 

 

	  	  	
Aggregate Principal

Amount of Notes

to be Purchased

	
 

Note

Denomination(s)

	  	  	  	  
	  	
UNITED OF OMAHA LIFE INSURANCE COMPANY

	
$14,000,000.00

	
$14,000,000.00

	  	  	  	  
	
(1)

	
All principal, interest and Make-Whole Amount payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

ABA No. 021-000-021

Private Income Processing

For Credit to account:  900-9000200

For further credit to Account Name:  United of Omaha Life Insurance Company

For further credit to Account Number:  G09588

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, PPN 147528 E@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.

	  	  
	  	  	  	  
	
(2)

	
All payments, other than principal, interest or Make-Whole Amount, on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

ABA No. 021-000-021

Account No. G09588

Account Name:  United of Omaha Life Insurance Co.

	  	  
	  	  	  	  
	  	
Each such wire transfer shall set forth the name of the Company, a reference to "5.22% Senior Notes due August 9, 2020, PPN 147528 E@8" and the due date and application (e.g., type of fee) of the payment being made.

	  	  
	  	  	  	  
	
(3)

	
Address for all notices relating to payments:

	  	  
	  	  	  	  
	  	
JPMorgan Chase Bank

14201 Dallas Parkway - 13th Floor

Dallas, TX 75254-2917

 

Attn:  Income Processing - G. Ruiz

a/c:  G09588

	  	  
	  	  	  	  

 

 

 

 

 

 

  

SCHEDULE A - 13 

  

 

 

 

 

 

	
(4)

	
Address for all other communications and notices:

	  	  
	  	  	  	  
	  	
Prudential Private Placement Investors, L.P.

c/o Prudential Capital Group

Two Prudential Plaza

180 North Stetson, Suite 5600

Chicago, IL 60601-6716

 

Attention:  Managing Director

	  	  
	  	  	  	  
	
(5)

	
Address for Delivery of Notes:

	  	  
	  	  	  	  
	  	
(a)           Send physical security by nationwide overnight delivery service to:

 

JPMorgan Chase Bank

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

 

Attention:  Physical Receive Department

 

Please include in the cover letter accompanying the Notes a reference to the Purchaser's account number (United of Omaha Life Insurance Company; Account Number:  G09588).

 

(b)           Send copy by nationwide overnight delivery service to:

 

Prudential Capital Group

Gateway Center 4

100 Mulberry, 7th Floor

Newark, NJ 07102

 

Attention:  Trade Management, Manager

Telephone:  (973) 367-3141

	  	  
	  	  	  	  
	
(6)

	
Tax Identification No.:  47-0322111

	  	  
	  	  	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 14 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
ING USA ANNUITY AND LIFE INSURANCE COMPANY

 

(1)   All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

 

The Bank of New York Mellon

ABA#:  021000018

 

Account: IOC 566/INST’L CUSTODY (for scheduled

principal and interest payments)

or

IOC 565/INST’L CUSTODY (for all payments

other than scheduled principal and interest)

 

For further credit to:  ING USA/Acct. 136373

Reference:  [insert CUSIP]

 

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

 

(2)   Address for all notices relating to payments:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-4886

 

(3)   Address for all other communications and notices:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Private Placements

Fax:  (770) 690-5057

 

(4)   Tax Identification No.:  41-0991508

 

	
$32,000,000

	
$32,000,000

 

 

 

 

 

 

  

SCHEDULE A - 15 

  

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
RELIASTAR LIFE INSURANCE COMPANY

 

(1)   All payments on account of Notes held by such purchaser should be made by wire transfer of immediately available funds for credit to:

 

The Bank of New York Mellon

ABA#:  021000018

 

Account:  IOC 566/INST’L CUSTODY (for scheduled

   principal and interest payments)

   or

   IOC 565/INST’L CUSTODY (for all payments

   other than scheduled principal and interest)

 

For further credit to:  RLIC/Acct. 187035

Reference:  [insert CUSIP]

 

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

 

(2)   Address for all notices relating to payments:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-4886

 

(3)   Address for all other communications and notices:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Private Placements

Fax:  (770) 690-5057

 

(4)   Tax Identification No.:  41-0451140

	
$29,000,000

	
$29,000,000

 

 

 

 

  

SCHEDULE A - 16 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
RELIASTAR LIFE INSURANCE COMPANY

 

(1)   All payments on account of Notes held by such purchaser should be made by wire

transfer of immediately available funds for credit to:

 

The Bank of New York Mellon

ABA#:  021000018

 

Account:  IOC 566/INST’L CUSTODY (for scheduled

   principal and interest payments)

   or

   IOC 565/INST’L CUSTODY (for all payments

   other than scheduled principal and interest)

 

For further credit to:  RLIC/Acct. 805858

Reference:  [insert CUSIP]

 

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

 

(2)   Address for all notices relating to payments:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-4886

 

(3)   Address for all other communications and notices:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Private Placements

Fax:  (770) 690-5057

 

(4)   Tax Identification No.:  41-0451140

 

 

	
$1,000,000

	
$1,000,000

 

 

 

 

  

SCHEDULE A - 17 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
ING LIFE INSURANCE AND ANNUITY COMPANY

 

(1)   All payments on account of Notes held by such purchaser should be made by wire

transfer of immediately available funds for credit to:

 

The Bank of New York Mellon

ABA#:  021000018

 

Account:  IOC 566/INST’L CUSTODY (for scheduled

   principal and interest payments)

   or

   IOC 565/INST’L CUSTODY (for all payments

  other than scheduled principal and interest)

 

For further credit to:  ILIAC/Acct. 216101

Reference:  [insert CUSIP]

 

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

 

(2)   Address for all notices relating to payments:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-4886

 

(3)   Address for all other communications and notices:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Private Placements

Fax:  (770) 690-5057

 

(4)   Tax Identification No.:  71-0294708

	
$38,000,000

	
$38,000,000

 

 

 

 

 

  

SCHEDULE A - 18 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
RELIASTAR LIFE INSURANCE COMPANY OF NEW YORK

 

(1)   All payments on account of Notes held by such purchaser should be made by wire

transfer of immediately available funds for credit to:

 

The Bank of New York Mellon

ABA#:  021000018

 

Account:  IOC 566/INST’L CUSTODY (for scheduled

   principal and interest payments)

   or

   IOC 565/INST’L CUSTODY (for all payments

   other than scheduled principal and interest)

 

For further credit to:  RLNY/Acct. 187038

Reference:  [insert CUSIP]

 

Each such wire transfer should set forth the name of the issuer, the full title (including the coupon rate, issuance date, and final maturity date) of the Notes on account of which such payment is made, and the due date and application (as among principal, premium and interest) of the payment being made.

 

(2)   Address for all notices relating to payments:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Operations/Settlements

Fax:  (770) 690-4886

 

(3)           Address for all other communications and notices:

 

ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA  30327-4347

Attn:  Private Placements

Fax:  (770) 690-5057

 

(4)           Tax Identification No.:  53-0242530

 

	
$10,000,000

	
$10,000,000

 

 

 

 

 

  

SCHEDULE A - 19 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
AVIVA LIFE AND ANNUITY COMPANY

 

Name in which to register Note(s):  HARE & CO.

 

Payment on Account of Note(s)

 

Method: Federal Funds Wire Transfer

Wiring Instructions:

The Bank of New York

New York, NY

ABA #021000018

Credit AIC# GLA 111566

A/C Name: Institutional Custody Insurance Division

Custody Account Name:  Aviva Life and Annuity Co-Annuity

Custody Account Number:  010048

 

Reference:  Please reference the Name of Company, Description of Security, PPN, Due Date and Application (as among principal, make-whole and interest) of the payment being made.

 

Address for all Notices, including Financials Compliance and Requests

 

 

PREFERRED REMITTANCE:

privateplacements@avivainvestors.com

 

Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

Attn: Private Placements

699 Walnut Street, Suite 1800

Des Moines, IA 50309

Fax: (515) 283-3439

 

 

 

 

	
$40,000,000

	
$40,000,000

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 20 

  

 

 

 

 

 

 

Instructions for Delivery of Notes

 

The Bank of New York

One Wall Street, 3rd Floor

Window A

New York, NY 10286

FAG: Aviva Life and Annuity Co-Annuity,

A/C #0 10048

 

Tax Identification Number

 

42-0175020 (Aviva Life and Annuity Company)

13-6062916 (Hare & Co.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 21 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
ALLSTATE INSURANCE COMPANY

 

 

(1)   All payments by Fedwire transfer of immediately available funds or ACH payments, identifying the name of the Issuer, the Private Placement Number and the payment as principal, interest or premium, in the format as follows:

 

Bank:      Citibank

ABA #:                      021000089

Account Name:  Allstate Insurance Company Bond Collection Account

Account #:                30546979

Reference:               OBI [Insert 9-digit Private Placement No., Credit Name, Coupon, Maturity here],

                                   Payment Due Date (MM/DD/YY) and the type and amount of payment being

         made.

                                   For example:

                                   P ________ (Enter “P” and amount of principal being remitted,

                                   for example, P5000000.00) -

                                   I ________ (Enter “I” and amount of interest being remitted,

                                   for example, I225000.00)

 

For Overseas Wires:  SWIFT Code:  CITIUS33, SWIFT Line 71A:  OUR

 

(2)   All notices of scheduled payments and written confirmations of such wire transfer to be sent to:

 

Allstate Investments LLC

Investment Operations - Private Placements

3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127

Telephone:  (847) 402-6672 Private Placements

Telecopy:  (847) 326-7032

E-Mail:  PrivateIOD@allstate.com

 

	
$7,000,000

	
$7,000,000

 

 

 

 

 

  

SCHEDULE A - 22 

  

 

 

 

 

 

	
(3)   Securities to be delivered to:

Citibank N.A.

399 Park Avenue

Level B Vault

New York, NY 10022

Attn:  Danny Reyes

For Allstate Insurance Company/Safekeeping Account No. 846626

 

(4)   All financial reports, compliance certificates and all other written communications, including notice of prepayments, to be sent by email (PrivateCompliance@allstate.com) or hard copy to:

Allstate Investments LLC

 

Private Placements Department

3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2806

 

The tax identification number for Allstate Insurance Company is Tax Id. No:  36-0719665.

 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 23 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
ALLSTATE LIFE INSURANCE COMPANY

 

(1)   All payments by Fedwire transfer of immediately available funds or ACH Payment, identifying the name of the Issuer, the Private Placement Number and the payment as principal, interest or premium, in the format as follows:

 

Bank:                                    Citibank

ABA #:                                  021000089

Account Name:                    Allstate Life Insurance Company Collection Account - PP

Account #:                            30547007

Reference:                            OBI [Insert 9-digit Private Placement No., Credit Name, Coupon, Maturity here],

Payment Due Date (MM/DD/YY) and the type and amount of payment being made.

For example:

P ________ (Enter “P” and amount of principal being remitted, for example, P5000000.00) –

I ________ (Enter “I” and amount of interest being remitted, for example, I225000.00)

 

For Overseas Wires in U.S. Dollars:  SWIFT Code:  CITIUS33, SWIFT Line 71A:  OUR

 

For Overseas Wires in Euros:

1.           London

2.           CITIGB2L – SWIFT

3.           Citibank, N.A. London

4.           10945439

5.          Allstate Life Insurance Company

6.           IBAN:  GB95CITI18500810945439

7.           SWIFT Code:  CITIUS33, SWIFT Line

              71A:  OUR

 

 

	
$10,000,000

	
$5,000,000

$5,000,000

 

 

 

 

 

 

  

SCHEDULE A - 24 

  

 

 

 

 

 

	
(2)           All notices of scheduled payments and written confirmations of such wire transfer to be sent to:

 

Allstate Investments LLC

Investment Operations - Private Placements

3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127

Telephone:  (847) 402-6672 Private Placements

Telecopy:  (847) 326-7032

E-Mail:  PrivateIOD@allstate.com

 

(3)           Securities to be delivered to:

 

Citibank N.A.

399 Park Avenue

Level B Vault

New York, NY 10022

Attn:  Danny Reyes

For Allstate Life Insurance Company of New York/Safekeeping

Account No. 846627

 

(4)          All financial reports, compliance certificates and all other written communications, including notice of prepayments, to be sent by email (PrivateCompliance@allstate.com) or hard copy to:

 

Allstate Investments LLC

Private Placements Department

3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2806

 

The tax identification number for Allstate Life Insurance Company of New York is Tax Id. No:  36-2554642.

	 	 

 

 

 

 

 

  

SCHEDULE A - 25 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
ALLSTATE LIFE INSURANCE COMPANY OF NEW YORK

 

(1)   All payments by Fedwire transfer of immediately available funds or ACH Payment, identifying the name of the Issuer, the Private Placement Number and the payment as principal, interest or premium, in the format as follows:

 

Bank:  Citibank

ABA #:  021000089

Account Name:  Allstate Life Insurance Company of New York Collection Account

Account #:  30547066

Reference:  OBI [Insert 9-digit Private Placement No., Credit Name, Coupon, Maturity here], Payment Due Date (MM/DD/YY) and the type and amount of payment being made.

For example:

P ________ (Enter “P” and amount of principal being remitted, for example, P5000000.00) -

I ________ (Enter “I” and amount of interest being remitted, for example, I225000.00)

For Overseas Wires:  SWIFT Code:  CITIUS33, SWIFT Line 71A:  OUR

 

(2)   All notices of scheduled payments and written confirmations of such wire transfer to be sent to:

 

Allstate Investments LLC

Investment Operations - Private Placements

3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127

Telephone:  (847) 402-6672 Private Placements

Telecopy:  (847) 326-7032

E-Mail:  PrivateIOD@allstate.com

 

 

	
$10,000,000

	
$5,000,000

$5,000,000

 

 

 

 

 

  

SCHEDULE A - 26 

  

 

 

 

 

	
(3)   Securities to be delivered to:

 

Citibank N.A.

399 Park Avenue

Level B Vault

New York, NY 10022

Attn:  Danny Reyes

For Allstate Life Insurance Company of New York/Safekeeping Account No. 846684

 

(4)   All financial reports, compliance certificates and all other written communications, including notice of prepayments, to be sent by email (PrivateCompliance@allstate.com) or hard copy to:

Allstate Investments LLC

Private Placements Department

3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2806

 

The tax identification number for Allstate Life Insurance Company of New York is Tax Id. No:  36-2608394.

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 27 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
AMERICAN HERITAGE LIFE INSURANCE COMPANY

 

(1)   All payments by Fedwire transfer of immediately available funds or ACH payments, identifying the name of the Issuer, the Private Placement Number and the payment as principal, interest or premium, in the format as follows:

 

Bank:  Citibank

ABA #:  021000089

Account Name:  American Heritage Life Insurance Company Bond Collection Account

Account #:  30546936

Reference:  OBI [Insert 9-digit Private Placement No., Credit Name, Coupon, Maturity here],

Payment Due Date (MM/DD/YY) and the type and amount of payment being made.

For example:

P ________ (Enter “P” and amount of principal being remitted,

for example, P5000000.00) -

I ________ (Enter “I” and amount of interest being remitted,

for example, I225000.00)

For Overseas Wires:  SWIFT Code:  CITIUS33, SWIFT Line 71A:  OUR

 

(2)   All notices of scheduled payments and written confirmations of such wire transfer to be sent to:

 

Allstate Investments LLC

Investment Operations - Private Placements

3075 Sanders Road, STE G4A

Northbrook, IL 60062-7127

Telephone:  (847) 402-6672 Private Placements

Telecopy:  (847) 326-7032

E-Mail:  PrivateIOD@allstate.com

 

	
$3,000,000

	
$3,000,000

 

 

 

 

 

 

  

SCHEDULE A - 28 

  

 

 

 

 

 

	
(3)   Securities to be delivered to:

 

Citibank N.A.

399 Park Avenue

Level B Vault

New York, NY 10022

Attn:  Danny Reyes

For American Heritage Life Insurance Company/Safekeeping Account No. 846928

 

(4)   All financial reports, compliance certificates and all other written communications, including notice of prepayments, to be sent by email (PrivateCompliance@allstate.com) or hard copy to:

 

Allstate Investments LLC

Private Placements Department

3075 Sanders Road, STE G3A

Northbrook, Illinois 60062-7127

Telephone:  (847) 402-7117

Telecopy:  (866) 226-2806

 

The tax identification number for American Heritage Life Insurance Company is Tax Id. No:  59-0781901

 

	 	 

 

 

 

  

SCHEDULE A - 29 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
NEW YORK LIFE INSURANCE COMPANY

 

(Tax I.D. No. 13-5582869)

 

(1)           All payments by wire or intrabank transfer of immediately available funds to:

 

JPMorgan Chase Bank

New York, New York 10019

ABA No. 021-000-021

Credit: New York Life Insurance Company

General Account No. 008-9-00687

 

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds.

 

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

 

New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:              Securities Operations

                Private Group

2nd Floor

Fax #: 908-840-3385

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

 

 

 

	
$49,750,000.00

	
$49,750,000.00

 

 

 

 

 

 

  

SCHEDULE A - 30 

  

 

 

 

 

 

 

	
 

(2)           All other communications:

New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010

 

Attention:                 Fixed Income Investors Group

   Private Finance

   2nd Floor

   Fax #: (212) 447-4122

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 

Attention:                 Office of General Counsel

   Investment Section, Room 1016

   Fax #: (212) 576-8340

 

	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 31 

  

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

 

(Tax I.D. No. 13-3044743)

 

(1)   All payments by wire or intrabank transfer of immediately available funds to:

 

JPMorgan Chase Bank

New York, New York

ABA No. 021-000-021

Credit: New York Life Insurance and Annuity Corporation

General Account No. 323-8-47382

 

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds,

 

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

 

New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:              Securities Operation

Private Group

                2nd Floor

Fax #: 908-840-3385

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

	
$30,750,000.00

	
$30,750,000.00

 

 

 

 

 

 

 

  

SCHEDULE A - 32 

  

 

 

 

 

 

	
(2)           All other communications:

 

New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:   Fixed Income Investors Group

     Private Finance

     2nd Floor

     Fax #:  (212) 447-4122

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 

Attention:   Office of General Counsel

     Investment Section, Room 1016

     Fax #:  (212) 576-8340

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 33 

  

 

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)

 

(Tax I.D. No. 13-3044743)

 

(1)      All payments by wire or intrabank transfer of immediately available funds to:

 

JPMorgan Chase Bank

New York, New York

ABA No. 021-000-021

Credit: NYLIAC SEPARATE BOLI 3-2

General Account No. 323-9-56793

 

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds, with advice of such payments to:

 

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:              Securities Operation

Private Group

2nd Floor

Fax #: 908-840-3385

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

 

 

	
$1,000,000.00

	
$1,000,000.00

 

 

 

 

 

 

  

SCHEDULE A - 34 

  

 

 

 

 

 

	
(2)       All other communications:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

                    Attention:              Fixed Income Investor Group

                                                    Private Finance

                                                    2nd Floor

                                                    Fax #: (212) 447-4122

 

   with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 

Attention:              Office of General Counsel

    Investment Section, Room 1016

    Fax #:  (212) 576-8340

 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 35 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3)

 

(Tax I.D. No. 13-3044743)

 

(1)           All payments by wire or intrabank transfer of immediately available funds to:

 

JPMorgan Chase Bank

New York, New York

ABA No. 021-000-021

Credit: NYLIAC SEPARATE BOLI 3 BROAD FIXED

General Account No. 323-8-39002

 

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds,

 

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:     Securities Operation

       Private Group

       2nd Floor

                                       Fax #: 908-840-3385

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

	
$1,500,000.00

	
$1,500,000.00

 

 

 

 

 

 

  

SCHEDULE A - 36 

  

 

 

 

 

 

	
(2)   All other communications:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

 

Attention:    Fixed Income Investors Group

      Private Finance

      2nd Floor

      Fax #:  (212) 447-4122

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 

Attention:   Office of General Counsel

     Investment Section, Room 1016

                                     Fax #: (212) 576-8340

 

 

	 	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 37 

  

 

 

 

 

	  	  	  
	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	 	 	 
	
NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)

 

(Tax I.D. No. 13-3044743)

 

(1)      All payments by wire or intrabank transfer of immediately available funds to:

 

JPMorgan Chase Bank

New York, New York

ABA No. 021-000-021

Credit: NYLIAC SEPARATE BOLI 30C

General Account No. 304-6-23970

 

with sufficient information (including issuer, PPN number, interest rate, maturity and whether payment is of principal, premium, or interest) to identify the source and application of such funds, with advice of such payments to:

 

All notices of payments, written confirmations of such wire transfers and any audit confirmation:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor Room 208

New York, New York 10010-1603

 

Attention:             Securities Operation

Private Group

2nd Floor

Fax #: 908-840-3385

 

with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

	
$1,000,000.00

	
$1,000,000.00

 

 

 

 

 

 

  

SCHEDULE A - 38 

  

 

 

 

 

	
 

(2)         All other communications:

 

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor Room 208

New York, New York 10010-1603

 

Attention:             Fixed Income Investor Group

Private Finance

2nd Floor

Fax #: (212) 447-4122

 

   with a copy sent electronically to:

 

FIIGLibrary@nylim.com

TraditionalPVtOps@nylim.com

 

and with a copy of any notices regarding defaults or Events of Default under the operative documents to:

 

Attention:         Office of General Counsel

Investment Section, Room 1016

Fax #:  (212) 576-8340

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 39 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
HARTFORD LIFE INSURANCE COMPANY

 

Taxpayer I.D. Number: 06-0974148

 

(1)  All payments by wire transfer of immediately

      available funds to:

      JP Morgan Chase

      4 New York Plaza

      New York  New York 10004

      Bank ABA No. 021000021

      Chase NYC/Cust

      A/C # 900-9-000200 for F/C/T - G06617-SUR-B

      Attn: Bond Interest /Principal - CASEYS GENERAL STORES INC.

      5.22% Senior Notes due August 9, 2020

      PPN #147528 E@8 Prin $___________Int $ ___________

with sufficient information to identify the source and application of such funds.

 

(2)  All notices of payments and written

      confirmations of such wire transfers:

      Hartford Investment Management Company

      c/o Portfolio Support

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8875/8876

 

 

	
$6,000,000.00

 

 

	
$5,000,000.00

$1,000,000.00

 

 

 

 

 

 

 

  

SCHEDULE A - 40 

  

 

 

 

 

 

	
(3)  All other communications:

       Hartford Investment Management Company

       c/o Investment Department-Private Placements

       E-mail Address:

       dawn.crunden@himco.com and

       PrivatePlacements.Himco@Himco.com,

       subject to confirming copy of notice being sent same day by

       recognized international commercial delivery service

       (charges prepaid) to the following addresses:

       Regular Mailing Address:

       P.O. Box 1744

       Hartford, CT  06144-1744

       Overnight Mailing Address:

       55 Farmington Avenue

       Hartford, Connecticut 06105

       Telefacsimile: (860)297-8884

 

(4)  Physical Delivery of Notes:

      JPMorgan Chase

      4 New York Plaza

      New York, New York  10004

      Attn:    Brian Cavanaugh

                   Phy/Rec - 11th Floor

      Phone: 212-623-2721

      Custody Account Number: G06617-SUR-B must

      appear on outside of envelope

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 41 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY

 

Taxpayer I.D. Number: 06-0838648

 

(1)  All payments by wire transfer of immediately

       available funds to:

       JP Morgan Chase

       4 New York Plaza

       New York  New York 10004

       Bank ABA No. 021000021

       Chase NYC/Cust

       A/C # 900-9-000200 for F/C/T - G06956-EBD-B

       Attn: Bond Interest /Principal - CASEYS GENERAL STORES INC.

       5.22% Senior Notes due August 9, 2020

       PPN #147528 E@8 Prin $___________Int $ ___________

with sufficient information to identify the source and application of such funds.

 

(2)  All notices of payments and written

      confirmations of such wire transfers:

      Hartford Investment Management Company

      c/o Portfolio Support

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8875/8876

 

 

	
$11,000,000.00

 

	
$5,000,000.00

$5,000,000.00

$1,000,000.00

 

 

 

 

 

 

 

  

SCHEDULE A - 42 

  

 

 

 

	
(3)  All other communications:

       Hartford Investment Management Company

       c/o Investment Department-Private Placements

       E-mail Address:

       dawn.crunden@himco.com and

       PrivatePlacements.Himco@Himco.com,

       subject to confirming copy of notice being sent same day by

       recognized international commercial delivery service

      (charges prepaid) to the following addresses:

       Regular Mailing Address:

       P.O. Box 1744

       Hartford, CT  06144-1744

       Overnight Mailing Address:

       55 Farmington Avenue

       Hartford, Connecticut 06105

       Telefacsimile: (860)297-8884

 

(4)  Physical Delivery of Notes:

      JPMorgan Chase

      4 New York Plaza

      New York, New York  10004

      Attn:    Brian Cavanaugh

                   Phy/Rec - 11th Floor

      Phone: 212-623-2721

      Custody Account Number: G06956-EBD-B must

      appear on outside of envelope

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 43 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
HARTFORD ACCIDENT AND INDEMNITY COMPANY

 

Taxpayer I.D. Number: 06-0383030

 

(1)  All payments by wire transfer of immediately

      available funds to:

      JP Morgan Chase

      4 New York Plaza

      New York  New York 10004

      Bank ABA No. 021000021

      Chase NYC/Cust

      A/C # 900-9-000200 for F/C/T - G06239-HAI-B

      Attn: Bond Interest /Principal - CASEYS GENERAL STORES INC.

      5.22% Senior Notes due August 9, 2020

      PPN #147528 E@8 Prin $___________Int $ ___________

with sufficient information to identify the source and application of such funds.

 

(2)  All notices of payments and written

      confirmations of such wire transfers:

      Hartford Investment Management Company

      c/o Portfolio Support

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8875/8876

 

 

	
$13,000,000.00

 

	
$5,000,000.00

$5,000,000.00

$3,000,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 44 

  

 

 

 

 

	
(3)  All other communications:

      Hartford Investment Management Company

      c/o Investment Department-Private Placements

      E-mail Address:

      dawn.crunden@himco.com and

      PrivatePlacements.Himco@Himco.com,

      subject to confirming copy of notice being sent same day by

      recognized international commercial delivery service

      (charges prepaid) to the following addresses:

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8884

 

(4)  Physical Delivery of Notes:

     JPMorgan Chase

     4 New York Plaza

     New York, New York  10004

     Attn:    Brian Cavanaugh

                Phy/Rec - 11th Floor

     Phone: 212-623-2721

     Custody Account Number: G06239-HAI-B must

     appear on outside of envelope

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 45 

  

 

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY

 

Taxpayer I.D. Number: 39-1052598

 

(1)  All payments by wire transfer of immediately

      available funds to:

      JP Morgan Chase

      4 New York Plaza

      New York  New York 10004

      Bank ABA No. 021000021

      Chase NYC/Cust

      A/C # 900-9-000200 for F/C/T - G06584-IHL-B

      Attn: Bond Interest /Principal - CASEYS GENERAL STORES INC.

      5.22% Senior Notes due August 9, 2020

      PPN #147528 E@8 Prin $___________Int $ ___________

with sufficient information to identify the source and application of such funds.

 

(2)  All notices of payments and written

     confirmations of such wire transfers:

      Hartford Investment Management Company

      c/o Portfolio Support

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8875/8876

 

 

	
$4,000,000.00

 

	
$4,000,000.00

 

 

 

 

 

  

SCHEDULE A - 46 

  

 

 

 

 

	
(3)  All other communications:

       Hartford Investment Management Company

       c/o Investment Department-Private Placements

       E-mail Address:

       dawn.crunden@himco.com and

       PrivatePlacements.Himco@Himco.com,

       subject to confirming copy of notice being sent same day by

       recognized international commercial delivery service

       (charges prepaid) to the following addresses:

       Regular Mailing Address:

       P.O. Box 1744

       Hartford, CT  06144-1744

       Overnight Mailing Address:

       55 Farmington Avenue

       Hartford, Connecticut 06105

       Telefacsimile: (860)297-8884

 

(4)  Physical Delivery of Notes:

      JPMorgan Chase

      4 New York Plaza

      New York, New York  10004

      Attn:    Brian Cavanaugh

                   Phy/Rec - 11th Floor

     Phone: 212-623-2721

     Custody Account Number: G06584-IHL-B must

     appear on outside of envelope

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 47 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
HARTFORD LIFE INSURANCE COMPANY

 

Taxpayer I.D. Number: 06-0974148

 

(1)  All payments by wire transfer of immediately

      available funds to:

      JP Morgan Chase

      4 New York Plaza

      New York  New York 10004

      Bank ABA No. 021000021

      Chase NYC/Cust

      A/C # 900-9-000200 for F/C/T - G06607-LGA-B

      Attn: Bond Interest /Principal - CASEYS GENERAL STORES INC.

      5.22% Senior Notes due August 9, 2020

      PPN #147528 E@8 Prin $___________Int $ ___________

with sufficient information to identify the source and application of such funds.

 

(2)  All notices of payments and written

     confirmations of such wire transfers:

      Hartford Investment Management Company

      c/o Portfolio Support

      Regular Mailing Address:

      P.O. Box 1744

      Hartford, CT  06144-1744

      Overnight Mailing Address:

      55 Farmington Avenue

      Hartford, Connecticut 06105

      Telefacsimile: (860)297-8875/8876

 

 

	
$6,000,000.00

 

	
$5,000,000.00

$1,000,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 48 

  

 

	
(3)  All other communications:

       Hartford Investment Management Company

       c/o Investment Department-Private Placements

       E-mail Address:

       dawn.crunden@himco.com and

       PrivatePlacements.Himco@Himco.com,

       subject to confirming copy of notice being sent same day by

       recognized international commercial delivery service

       (charges prepaid) to the following addresses:

       Regular Mailing Address:

       P.O. Box 1744

       Hartford, CT  06144-1744

       Overnight Mailing Address:

       55 Farmington Avenue

       Hartford, Connecticut 06105

       Telefacsimile: (860)297-8884

 

(4)  Physical Delivery of Notes:

      JPMorgan Chase

      4 New York Plaza

      New York, New York  10004

      Attn:    Brian Cavanaugh

                   Phy/Rec - 11th Floor

     Phone: 212-623-2721

     Custody Account Number: G06607-LGA-B must

     appear on outside of envelope

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 49 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
METROPOLITAN LIFE INSURANCE COMPANY

 

1095 Avenue of the Americas

New York, New York    10036

 

(Securities to be registered in the name of Metropolitan Life Insurance Company)

 

(1)   All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:            JPMorgan Chase Bank

ABA Routing #:    021-000-021

Account No.:         002-2-410591

Account Name:     Metropolitan Life Insurance Company

Ref:                          Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

Metropolitan Life Insurance Company

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

	
$55,000,000

	
$55,000,000

 

 

 

 

 

  

SCHEDULE A - 50 

  

 

 

 

	
With a copy OTHER than with respect to deliveries of financial statements to:

 

Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

 

Metropolitan Life Insurance Company

Securities Investments, Law Department

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4)   Taxpayer I.D. Number: 13-5581829

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 51 

  

 

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
METLIFE INVESTORS INSURANCE COMPANY

 

c/o Metropolitan Life Insurance Company

1095 Avenue of the Americas

New York, New York    10036

 

(Securities to be registered in the name of MetLife Investors Insurance Company)

 

(1)    All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:              JPMorgan Chase Bank

ABA Routing #:      021-000-021

Account No.:           323-8-90911

Account Name:       MetLife Investors Insurance Company

Ref:                            Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

	
$15,000,000

	
$15,000,000

 

 

 

 

 

  

SCHEDULE A - 52 

  

 

 

 

	
 

With a copy OTHER than with respect to deliveries of financial statements to:

 

MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

Securities Investments, Law Department

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4) Taxpayer I.D. Number: 43-1236042

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 53 

  

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
FIRST METLIFE INVESTORS INSURANCE COMPANY

 

c/o Metropolitan Life Insurance Company

1095 Avenue of the Americas

New York, New York, 10036

 

(Securities to be registered in the name of First MetLife Investors Insurance Company)

 

(1)    All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:                    JPMorgan Chase Bank

ABA Routing #:            021-000-021

Account No.:                 323-8-90938

Account Name:             First MetLife Investors Insurance Company

Ref:                                  Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

First MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

 

	
$5,000,000

	
$5,000,000

 

 

 

 

 

  

SCHEDULE A - 54 

  

 

 

 

 

 

 

	
 

With a copy OTHER than with respect to deliveries of financial statements to:

 

First MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

 

First MetLife Investors Insurance Company

c/o Metropolitan Life Insurance Company

Securities Investments, Law Department

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4)    Taxpayer I.D. Number: 13-3690700

 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 55 

  

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
METLIFE INVESTORS USA INSURANCE COMPANY

 

c/o Metropolitan Life Insurance Company

1095 Avenue of the Americas

New York, New York    10036

 

(Securities to be registered in the name of MetLife Investors USA Insurance Company)

 

(1)     All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:                  JPMorgan Chase Bank

ABA Routing #:          021-000-021

Account No.:               002-2-431530

Account Name:           MetLife Investors USA Insurance Company

Ref:                                Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

MetLife Investors USA Insurance Company

c/o Metropolitan Life Insurance Company

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

	
$20,000,000

	
$20,000,000

 

 

 

 

 

  

SCHEDULE A - 56 

  

 

 

 

 

	
 

With a copy OTHER than with respect to deliveries of financial statements to:

 

MetLife Investors USA Insurance Company

c/o Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

 

MetLife Investors USA Insurance Company

c/o Metropolitan Life Insurance Company

Securities Investments, Law Department

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4)   Taxpayer I.D. Number: 54-0696644

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 57 

  

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
METROPOLITAN TOWER LIFE INSURANCE COMPANY

 

c/o Metropolitan Life Insurance Company

1095 Avenue of the Americas

New York, New York    10036

 

(Securities to be registered in the name of Metropolitan Tower Life Insurance Company)

 

(1)   All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:                    JPMorgan Chase Bank

ABA Routing #:            021-000-021

Account No.:                 002-2-403778

Account Name:             Metropolitan Tower Life Insurance Company

Ref:                                  Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

METROPOLITAN TOWER LIFE INSURANCE COMPANY

c/o Metropolitan Life Insurance Company

Investments, Private Placements

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

	
$10,000,000

	
$10,000,000

 

 

 

 

 

 

  

SCHEDULE A - 58 

  

 

 

 

	
 

With a copy OTHER than with respect to deliveries of financial statements to:

 

METROPOLITAN TOWER LIFE INSURANCE COMPANY

c/o Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

 

       METROPOLITAN TOWER LIFE INSURANCE COMPANY

c/o Metropolitan Life Insurance Company

Securities Investments, Law Department

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4)   Taxpayer I.D. Number:  13-3114906

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 59 

  

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
METLIFE INSURANCE COMPANY OF CONNECTICUT

c/o Metropolitan Life Insurance Company                                                                           

1095 Avenue of the Americas

New York, New York

 

 (Securities to be registered in the name of MetLife Insurance Company of Connecticut)

 

(1)    All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:                    JPMorgan Chase Bank

ABA Routing #:            021-000-021

Account No.:                 910-2-587434

Account Name:             MetLife Insurance Company of Connecticut

Ref:                                 Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.

For all payments other than scheduled payments of principal and interest, the Company shall seek instructions

from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

MetLife Insurance Company of Connecticut

c/o Metropolitan Life Insurance Company

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

	
$20,000,000

	
$20,000,000

 

 

 

 

 

  

SCHEDULE A - 60 

  

 

 

 

 

 

	
 

With a copy OTHER than with respect to deliveries of financial statements to:

 

MetLife Insurance Company of Connecticut

c/o Metropolitan Life Insurance Company

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email:  sec_invest_law@metlife.com

 

(3)   Original notes delivered to:

 

MetLife Insurance Company of Connecticut

c/o Metropolitan Life Insurance Company

Securities Investments, Law Department

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Daniel F. Scudder, Esq.

 

(4)   Taxpayer I.D. Number: 06-0566090

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 61 

  

 

 

 

	  	
Aggregate

Principal

Amount of

Notes to be

Purchased

	
 

 

 

Note

Denomination(s)

	  	  	  
	
UNION FIDELITY LIFE INSURANCE COMPANY

 

5700 Broadmoor

Suite 1000

Mission, KS 66202

 

(Securities to be registered in the name of UNION FIDELITY LIFE INSURANCE COMPANY)

 

(1)    All scheduled payments of principal and interest by wire transfer of immediately available funds to:

 

Bank Name:                   Bank of New York Mellon

ABA Routing #:           021000018

Account No.:                127043

Account Name:            Union Fidelity Life Insurance Company

Ref:                                 FRGECSS PP – Casey’s General Stores Inc., 5.22% Due 8/9/2020

 

with sufficient information to identify the source and application of such funds, including issuer, PPN#, interest rate, maturity and whether payment is of principal, interest, make whole amount or otherwise.  For all payments other than scheduled payments of principal and interest, the Company shall seek instructions from the holder, and in the absence of instructions to the contrary, will make such payments to the account and in the manner set forth above.

 

(2)   All notices and communications:

 

Union Fidelity Life Insurance Company

c/o MetLife Investment Advisors Company LLC

Investments, Private Placements

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention:  Director

Facsimile (973) 355-4250

 

 

	
$15,000,000

	
$15,000,000

 

 

 

 

 

 

  

SCHEDULE A - 62 

  

 

 

 

 

	
With a copy OTHER than with respect to deliveries of financial statements to:

 

Union Fidelity Life Insurance Company

c/o MetLife Investment Advisors Company LLC

P.O. Box 1902

10 Park Avenue

Morristown, New Jersey 07962-1902

Attention: Chief Counsel-Securities Investments (PRIV)

Email: sec_invest_law@metlife.com

 

(3) Original notes delivered to:

 

Bank of New York Mellon

1 Wall Street

3rd Floor Window A

New York, NY 10286

Attention: Anthony Saviano  Tel: 212-635-6764

 

With COPIES OF THE NOTES emailed to dscudder@metlife.com

 

(4) Taxpayer I.D. Number: 310252460

 

	  	  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE A - 63 

  

SCHEDULE B

DEFINED TERMS

 

As used herein, the following terms have the respective meanings set forth below or set forth in the Section hereof following such term:

 

“Affiliate” means, at any time, and with respect to any Person, any other Person that at such time directly or indirectly through one or more intermediaries Controls, or is Controlled by, or is under common Control with, such first Person. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. Unless the context otherwise clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company.

 

“Anti-Terrorism Order” means Executive Order No. 13,224 of September 23, 2001, Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit or Support Terrorism, 66 U.S. Fed. Reg. 49, 079 (2001), as amended.

 

“Asset Disposition” means the sale, lease, conveyance, disposition or other transfer of any assets other than those:

 

(a)   from a Subsidiary to the Company or a Wholly Owned Subsidiary;

 

(b)   from the Company to a Wholly Owned Subsidiary; and

 

(c)   made in the ordinary course of business, including sales of obsolete assets or inventory held for sale.

 

“Business Day” means (a) for the purposes of Section 8.6 only, any day other than a Saturday, a Sunday or a day on which commercial banks in New York City are required or authorized to be closed, and (b) for the purposes of any other provision of this Agreement, any day other than a Saturday, a Sunday or a day on which commercial banks in New York City or Chicago, Illinois are required or authorized to be closed.

 

“Capital Lease” means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of an asset and the incurrence of a liability in accordance with GAAP.

 

“Change in Control” is defined in Section 8.7(g).

 

“Closing” is defined in Section 3.

 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations promulgated thereunder from time to time.

 

“Company” means Casey’s General Stores, Inc., an Iowa corporation or any successor that becomes such in the manner prescribed in Section 10.5.

 

 

 

 

  

SCHEDULE B - 1

  

 

 

 

 

“Confidential Information” is defined in Section 20.

 

“Consolidated EBITDA” means, for any period, Consolidated Net Income for such period plus, to the extent deducted in calculating Consolidated Net Income for such period, (i) Consolidated Interest Expense, (ii) all provisions for federal, state and other income taxes, (iii) depreciation and amortization expense, including amortization of goodwill and other intangible assets, and (iv) non-cash stock option expense, in each case determined on a consolidated basis in accordance with GAAP. If, during the period for which Consolidated EBITDA is being calculated, the Company or any Subsidiary has acquired one or more Persons (or the assets thereof), or made any Disposition, in any transaction or group of related transactions, which acquisition or Disposition, as the case may be, the Company is required to disclose in the Company’s financial statements pursuant to Statement of Financial Accounting Standards (SFAS) No. 141, Consolidated EBITDA shall be calculated on a pro forma basis as if the transaction or transactions had occurred on the first day of such period.

 

“Consolidated EBITR” means, for any period, Consolidated Net Income for such period, plus, to the extent deducted in calculating Consolidated Net Income for such period, (i) Consolidated Interest Expense, (ii) all provisions for federal, state and other income taxes, and (iii) Consolidated Rental Expense, in each case determined on a consolidated basis in accordance with GAAP. If, during the period for which Consolidated EBITR is being calculated, the Company or any Subsidiary has acquired one or more Persons (or the assets thereof), or made any Disposition, in any transaction or group of related transactions, which acquisition or Disposition, as the case may be, the Company is required to disclose in the Company’s financial statements pursuant to Statement of Financial Accounting Standards (SFAS) No. 141, Consolidated EBITR shall be calculated on a pro forma basis as if the transaction or transactions had occurred on the first day of such period.

 

“Consolidated Interest Expense” means, for any period, the consolidated interest expense of the Company and its Subsidiaries for such period determined on a consolidated basis in accordance with GAAP.

 

“Consolidated Net Income” means, for any period, the net income (or deficit) of the Company and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP, but excluding in any event (a) any extraordinary, unusual or non-recurring gain or loss (net of any tax effect) or any gain or loss from discontinued operations and (b) net earnings of any Person (other than a Subsidiary) in which the Company or any Subsidiary has an ownership interest unless such net earnings shall have actually been received by the Company or such Subsidiary in the form of cash distributions.

 

“Consolidated Net Worth” means, as of any date, the consolidated shareholders’ equity of the Company and its Subsidiaries as of such date determined in accordance with GAAP.

 

“Consolidated Rental Expense” means , for any period, the aggregate amounts payable by the Company and its Subsidiaries under leases (other than Capital Leases for such period), determined on a consolidated basis in accordance with GAAP.

 

 

 

 

  

SCHEDULE B - 2

  

 

 

 

 

 

“Consolidated Total Assets” means, as of any date, the assets and properties of the Company and its Subsidiaries as of such date determined on a consolidated basis in accordance with GAAP.

 

“Consolidated Total Debt” means, as of any date, all Indebtedness of the Company and its Subsidiaries as of such date, including current maturities of such obligations, determined on a consolidated basis in accordance with GAAP.

 

“Default” means an event or condition the occurrence or existence of which would, with the lapse of time or the giving of notice or both, become an Event of Default.

 

“Default Rate” means that rate of interest that is the greater of (i) 2.0% per annum above the rate of interest stated in clause (a) of the first paragraph of the Notes or (ii) 2.0% over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. in Chicago, Illinois as its “base” or “prime” rate.

 

“Disposition” means an Asset Disposition of all or substantially all of the assets of any Subsidiary, or any business group, division or unit of the Company or any Subsidiary, or the sale, conveyance, disposition or other transfer of any capital stock of any Subsidiary to any Person other than the Company or another Subsidiary.

 

“Electronic Delivery” is defined in Section 7.1(a).

 

“Environmental Laws” means any and all Federal, state, local and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any materials into the environment, including but not limited to those related to Hazardous Materials.

 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is treated as a single employer together with the Company under section 414 of the Code.

 

“Event of Default” is defined in Section 11.

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time and the rules and regulations promulgated thereunder from time to time in effect.

 

“Form 10-K” is defined in Section 7.1(b).

 

“Form 10-Q” is defined in Section 7.1(a).

 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States of America.

 

 

 

 

 

  

SCHEDULE B - 3

  

 

 

 

“Governmental Authority” means

 

(a)  the government of

 

(i)   the United States of America or any State or other political subdivision thereof, or

 

(ii)  any other jurisdiction in which the Company or any Subsidiary conducts all or any part of its business, or which asserts jurisdiction over any properties of the Company or any Subsidiary, or

 

(b)  any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government.

 

“Guaranty” means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any Indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

 

(a)  to purchase such Indebtedness or obligation or any property constituting security therefor;

 

(b)  to advance or supply funds (i) for the purchase or payment of such Indebtedness or obligation, or (ii) to maintain any working capital or other balance sheet condition or any income statement condition of any other Person or otherwise to advance or make available funds for the purchase or payment of such Indebtedness or obligation;

 

(c)  to lease properties or to purchase properties or services primarily for the purpose of assuring the owner of such Indebtedness or obligation of the ability of any other Person to make payment of the Indebtedness or obligation; or

 

(d)  otherwise to assure the owner of such Indebtedness or obligation against loss in respect thereof.

 

In any computation of the Indebtedness or other liabilities of the obligor under any Guaranty, the Indebtedness or other obligations that are the subject of such Guaranty shall be assumed to be direct obligations of such obligor.

 

“Guaranty Agreement” is defined in Section 9.7.

 

“Hazardous Material” means any and all pollutants, toxic or hazardous wastes or any other substances that might pose a hazard to health and safety, the removal of which may be required or the generation, manufacture, refining, production, processing, treatment, storage, handling, transportation, transfer, use, disposal, release, discharge, spillage, seepage, or filtration of which is or shall be restricted, prohibited or penalized by any applicable law (including, without limitation, asbestos, urea formaldehyde foam insulation, polychlorinated biphenyls, petroleum, petroleum products, lead based paint, radon gas or similar restricted, prohibited or penalized substances).

 

 

 

 

 

  

SCHEDULE B - 4

  

 

 

 

 

“holder” means, with respect to any Note, the Person in whose name such Note is registered in the register maintained by the Company pursuant to Section 13.1.

 

“Incumbent Directors” is defined in Section 8.7(g).

 

“Indebtedness” with respect to any Person means, at any time, without duplication,

 

(a)   its liabilities for borrowed money and its redemption obligations in respect of mandatorily redeemable Preferred Stock;

 

(b)   its liabilities for the deferred purchase price of property acquired by such Person (excluding accounts payable arising in the ordinary course of business but including all liabilities created or arising under any conditional sale or other title retention agreement with respect to any such property);

 

(c)   (i) all liabilities appearing on its balance sheet in accordance with GAAP in respect of Capital Leases and (ii) all liabilities which would appear on its balance sheet in accordance with GAAP in respect of Synthetic Leases assuming such Synthetic Leases were accounted for as Capital Leases;

 

(d)   all liabilities for borrowed money secured by any Lien with respect to any property owned by such Person (whether or not it has assumed or otherwise become liable for such liabilities);

 

(e)   all its liabilities in respect of letters of credit or instruments serving a similar function issued or accepted for its account by banks and other financial institutions (whether or not representing obligations for borrowed money);

 

(f)   the aggregate Swap Termination Value of all Swap Contracts of such Person; and

 

(g)   any Guaranty of such Person with respect to liabilities of a type described in any of clauses (a) through (f) hereof.

 

“Indemnified Person” is defined in Section 15.1(b).

 

“Institutional Investor” means (a) any Purchaser of a Note, (b) any holder of a Note holding (together with one or more of its affiliates) more than 5% of the aggregate principal amount of the Notes then outstanding, (c) any bank, trust company, savings and loan association or other financial institution, any pension plan, any investment company, any insurance company, any broker or dealer, or any other similar financial institution or entity, regardless of legal form, and (d) any Related Fund of any holder of any Note.

 

 

 

 

 

  

SCHEDULE B - 5

  

 

 

 

 

“Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other secured party to or of such Person under any conditional sale or other title retention agreement or Capital Lease, upon or with respect to any property or asset of such Person (including, in the case of stock, shareholder agreements, voting trust agreements and all similar arrangements).

 

“Make-Whole Amount” is defined in Section 8.6.

 

“Material” means material in relation to the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole.

 

“Material Adverse Effect” means a material adverse effect on (a) the business, operations, affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a whole, (b) the ability of the Company to perform its obligations under this Agreement and the Notes, or (c) the validity or enforceability of this Agreement, the Notes or any Guaranty Agreement.

 

“Memorandum” is defined in Section 5.3.

 

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in section 4001(a)(3) of ERISA).

 

“NAIC” means the National Association of Insurance Commissioners or any successor thereto.

 

“Notes” is defined in Section 1.

 

“Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other officer of the Company whose responsibilities extend to the subject matter of such certificate.

 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any successor thereto.

 

“Person” means an individual, partnership, corporation, limited liability company, association, trust, unincorporated organization, business entity or Governmental Authority.

 

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) subject to Title I of ERISA that is or, within the preceding five years, has been established or maintained, or to which contributions are or, within the preceding five years, have been made or required to be made, by the Company or any ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability.

 

“Primary Credit Facility” shall mean any credit agreement, note purchase agreement, indenture or any other term loan or working capital facility of the Company, and any successor or replacement thereof having an aggregate principal amount of Indebtedness, or commitments therefor, of $25,000,000 or greater.

 

 

 

 

 

  

SCHEDULE B - 6

  

 

 

 

 

“Priority Debt” means, as of any date, the sum (without duplication) of (i) Indebtedness of the Company and its Subsidiaries secured by Liens not otherwise permitted by Sections 10.4(a) through (h), and (ii) outstanding unsecured Indebtedness of Subsidiaries not otherwise permitted by Sections 10.3(a) through (c).

 

“Preferred Stock” means any class of capital stock of a Person that is preferred over any other class of capital stock (or similar equity interests) of such Person as to the payment of dividends or the payment of any amount upon liquidation or dissolution of such Person.

 

“Proceeding” is defined in Section 15.1(b).

 

“property” or “properties” means, unless otherwise specifically limited, real or personal property of any kind, tangible or intangible, choate or inchoate.

 

“Proposed Prepayment Date” is defined in Section 8.7(b).

 

“PTE” is defined in Section 6.2(a).

 

“Purchaser” is defined in the first paragraph of this Agreement.

 

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer” within the meaning of such term as set forth in Rule 144A(a)(1) under the Securities Act.

 

“Recapitalization Transaction” means the Tender Offer and all other transactions contemplated by the Company in connection therewith pursuant to the Tender Offer Documents.

 

“Related Fund” means, with respect to any holder of any Note, any fund or entity that (i) invests in Securities or bank loans, and (ii) is advised or managed by such holder, the same investment advisor as such holder or by an affiliate of such holder or such investment advisor.

 

“Required Holders” means, at any time, the holders of a majority in principal amount of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its Affiliates).

 

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company with responsibility for the administration of the relevant portion of this Agreement.

 

“SEC” shall mean the Securities and Exchange Commission of the United States, or any successor thereto.

 

 

 

 

  

SCHEDULE B - 7

  

 

 

 

“Securities” or “Security” shall have the meaning specified in Section 2(1) of the Securities Act.

 

“Securities Act” means the Securities Act of 1933, as amended from time to time and the rules and regulations promulgated thereunder from time to time in effect.

 

“Senior Financial Officer” means the chief financial officer, principal accounting officer, treasurer or comptroller of the Company.

 

“Significant Subsidiary” means at any time any Subsidiary that would at such time constitute a “significant subsidiary” (as such term is defined in Regulation S-X of the SEC as in effect on the date of this Agreement) of the Company.

 

“Solvent” shall mean, with respect to any Person at any time, that at such time (i) the sum of the debts and liabilities (including, without limitation, contingent liabilities of such Person) is not greater than all of the assets of such Person at a fair valuation, (ii) the present fair salable value of the assets of such Person (including goodwill) is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person has not incurred debts or liabilities (including, without limitation, contingent liabilities) beyond such Person’s ability to pay as such debts and liabilities mature, (iv) such Person is not engaged in, and is not about to engage in, a business or a transaction for which such person’s property constitutes or would constitute unreasonably small capital, and (v) such Person is not otherwise insolvent as defined in, or otherwise in a condition which could reasonably be expected to render any transfer, conveyance, obligation or act then made, incurred or performed by it avoidable or fraudulent pursuant to, any law, rule or regulation that may be applicable to such Person pertaining to bankruptcy, insolvency or creditors’ rights, fraudulent conveyance or fraudulent transfers or preferences.

 

“Subsidiary” means, as to any Person, any corporation, association or other business entity in which such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries owns sufficient equity or voting interests to enable it or them (as a group) ordinarily, in the absence of contingencies, to elect a majority of the directors (or Persons performing similar functions) of such entity, and any partnership, limited liability company or joint venture if more than a 50% interest in the profits or capital thereof is owned by such Person or one or more of its Subsidiaries or such Person and one or more of its Subsidiaries (unless such partnership or joint venture can and does ordinarily take major business actions without the prior approval of such Person or one or more of its Subsidiaries). Unless the context otherwise clearly requires, any reference to a “Subsidiary” is a reference to a Subsidiary of the Company. Notwithstanding the foregoing, “Subsidiary” shall not be deemed to include First Heartland Captive Insurance Company.

 

“Subsidiary Guarantor” shall mean any Subsidiary of the Company which has executed and delivered a Guaranty Agreement, so long as such Subsidiary has not been released from its obligations under its respective Guaranty Agreement pursuant to the terms of Section 9.7.

 

“Surviving Person” is defined in Section 8.7(g).

 

 

 

  

SCHEDULE B - 8

  

 

 

 

 

“SVO” means the Securities Valuation Office of the NAIC or any successor to such Office.

 

“Swap Contract” means (a) any and all interest rate swap transactions, basis swap transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward foreign exchange transactions, cap transactions, floor transactions, currency options, spot contracts or any other similar transactions or any of the foregoing (including, but without limitation, any options to enter into any of the foregoing), and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement.

 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts.

 

“Synthetic Lease” means, at any time, any lease (including leases that may be terminated by the lessee at any time) of any property (a) that is accounted for as an operating lease under GAAP and (b) in respect of which the lessee retains or obtains ownership of the property so leased for United States federal income tax purposes, other than any such lease under which such Person is the lessor.

 

“Tender Offer” shall mean the Company’s modified “Dutch Auction” self-tender offer for up to $500,000,000 in value of shares of the Company’s common stock.

 

“Tender Offer Documents” shall mean the Company’s Tender Offer Statement on Schedule TO and related Offer to Purchase filed by the Company with the SEC on July 29, 2010.

 

“Ultimate Parent” is defined in Section 8.7(g).

 

“USA Patriot Act” means United States Public Law 107-56, Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, as amended from time to time, and the rules and regulations promulgated thereunder from time to time in effect.

 

“Wholly Owned Subsidiary” means, at any time, any Subsidiary, all of the equity interests (except directors’ qualifying shares) and voting `interests of which are owned by any one or more of the Company and the Company’s other Wholly Owned Subsidiaries at such time.

 

 

 

 

  

SCHEDULE B - 9

  

 

 

 

SCHEDULE 5.3

 

Disclosure Materials

 

Annual Report on Form 10-K for year ended April 30, 2010.

 

 

Preliminary Proxy Statement filed with the SEC on July 29, 2010.

 

 

Current Report on Form 8-K filed with the SEC on June 2, 2010.

 

 

Current Report on Form 8-K filed with the SEC on June 7, 2010.

 

 

Current Report on Form 8-K filed with the SEC on June 8, 2010.

 

 

Current Report on Form 8-K filed with the SEC on June 11, 2010.

 

 

Current Report on Form 8-K filed with the SEC on June 15, 2010 (except for Item 7.01 included therein).

 

 

Current Report on Form 8-K filed with the SEC on June 18, 2010.

 

 

Current Report on Form 8-K filed with the SEC on July 12, 2010.

 

 

Current Report on Form 8-K filed with the SEC on July 22, 2010.

 

 

Current Report on Form 8-K filed with the SEC on July 28, 2010.

 

 

Current Report on Form 8-K filed with the SEC on August 2, 2010.

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.3 - 1

  

 

 

 

 

SCHEDULE 5.4

 

Organization and Ownership of Shares of Subsidiaries; Affiliates

 

	  	  	  	  	  	  
	
Name of Subsidiary

	
  

	
Jurisdiction of

Incorporation

	
  

	
Percentage of Voting

Stock Owned by the

Company

	  
	 	 	 	 	 	 
	Casey's Services Company	 	Iowa	 	 100%	 
	Casey's Marketing Company	 	 Iowa	 	100%	 
	Casey's Retail Company	 	 Iowa	 	100%	 
	CGS Sales Corp.	 	 Iowa	 	100%	 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.4 - 1

  

 

 

 

 

SCHEDULE 5.5

 

Financial Statements

 

	
  

	
Annual Report on Form 10-K for the fiscal year ended April 30, 2008.

 

	
  

	
Annual Report on Form 10-K for the fiscal year ended April 30, 2009.

 

	
  

	
Annual Report on Form 10-K for the fiscal year ended April 30, 2010.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.5 - 1

  

 

 

 

SCHEDULE 5.8

 

Litigation

 

Casey’s General Stores, Inc. v. Alimentation Couche-Tard Inc., No. 4:10-cv-265 (S.D. Iowa filed June 18, 2010) (Answer, Affirmative Defenses and Counterclaims for Declaratory and Injunctive Relief).

Mercier v. Casey’s General Stores, Inc., No. CE65196 (Iowa Dist. Ct., Polk County, filed April 28, 2010) (Petition in Equity).

Howie v. Myers, No. CL118607 (Iowa Dist. Ct., Polk County, filed June 29, 2010) (Class Action Petition).

Kentucky State District Council of Carpenters Pension Trust Fund v. Myers, No. 4:10-cv-00332 (S.D. Iowa filed July 21, 2010) (Petition at Law).

On August 6, 2010 the Company received notice that litigation may soon be filed against it by or on behalf of the Oklahoma Law Enforcement System in State Court in Iowa.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.8 - 1

  

 

 

 

 

SCHEDULE 5.14

 

Use of Proceeds

 

The Company will use the proceeds from the issuance of the Notes for general corporate purposes, which may include the use of a portion of such proceeds to finance the Tender Offer and pay the fees and expenses in connection with the Tender Offer and to repay its Senior Notes with interest at 6.18% to 7.23% and its 7.38% Senior Notes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.14 - 1

  

 

 

 

 

SCHEDULE 5.15

 

Existing Indebtedness; Future Liens

 

The Company is the obligor of all debt listed below. Outstanding balances as of April 30, 2010. See footnote for obligees and collateral.

	  	  	  	  
	
Capitalized lease obligations (1)

	
  

	  	
$ 10,274,147

 

	
Mortgage notes payable (2)

	
  

	  	
1,175,210

 

	
Gas N Shop note payable (3)

	
  

	  	
7,953,000

 

	
Various franchise acquisition notes payable (4)

	
  

	  	
1,500,000

 

	
Senior Notes 7.38% (5)

	
  

	  	
30,000,000

 

	
Senior Notes 6.84% (5)

	
  

	  	
4,000,000

 

	
Senior Notes 7.08% (5)

	
  

	  	
8,000,000

 

	
Senior Notes 7.23% (5)

	
  

	  	
5,000,000

 

	
Senior Notes 7.89% (5)

 

	
  

	  	
11,428,568

	
Senior Notes 5.72% (5)

	
  

	  	
  100,000,000

	  	
  

	  	
$179,330,925

	
(1)

	
Obligees – Delage Landen, Key Equipment Finance, Simpson Enterprises, Sondra Boniface, Provest Company, RCP Group, Chipokas, LLC, MAV Holdings

	
  

	
Collateral – Various Print Shop and IT equipment, as well as 5 stores and one additional lot.

	
(2)

	
Obligees – Crawford Co. Trust and Dell Oil, LTD.

	
  

	
Collateral – 5 stores

	
(3)

	
Obligees – Larry Coffey and Gas N Shop Inc.

	
  

	
Collateral – 13 stores

	
(4)

	
Obligees – 1 former franchisee

	
  

	
Collateral – 2 stores

	
(5)

	
Obligees – Various institutional investors

	
  

	
Collateral – Unsecured

 

The Company repaid the 7.89% Senior Notes in full in May 2010.

The Company repaid the Senior Notes with interest at 6.18% to 7.23% and its 7.38% Senior Notes in full on August 6, 2010.

 

 

 

 

 

 

  

SCHEDULE 5.15 - 1

  

 

 

 

SCHEDULE 5.18

 

Environmental Matters – Certain Products of the Company and its Subsidiaries

 

The business operations of the Company and its Subsidiaries entail the operation of convenience stores, including the sale of gasoline, in nine Midwestern states. Such business operations include the sale, storage, transportation and use of petroleum and petroleum products, household products, sanitary and cleaning supplies, lawn and garden supplies, and other miscellaneous automotive products, some of which may or do contain Hazardous Materials as defined herein. In the ordinary course of the business operations of the Company and its Subsidiaries, quantities of such petroleum and petroleum products, households products, sanitary and cleaning supplies, lawn and garden supplies and other automotive products are stored on the premises of their stores and distribution center facilities.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 5.18 - 1

  

 

 

 

SCHEDULE 10.3

 

Indebtedness of Subsidiaries

 

	
  

	
None.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 10.3 - 1

  

 

 

 

 

SCHEDULE 10.4

 

Liens

	  	  	  	  
	
Crawford Co. Trust

	
  

	  	
$75,903

	
Dell Oil, LTD.

	
  

	  	
$935,117

	
$1,011,020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

SCHEDULE 10.4 - 1

  

 

 

 

 

 

EXHIBIT 1

 

[FORM OF NOTE]

 

CASEY’S GENERAL STORES, INC.

 

5.22% SENIOR NOTE

DUE AUGUST 9, 2020

 

	
No. R-[__]

$[____________]

	
 [Date]

 PPN: 147528 E@8

 

FOR VALUE RECEIVED, the undersigned, CASEY’S GENERAL STORES, INC. (herein called the “Company”), a corporation organized and existing under the laws of the State of Iowa, promises to pay to [______________], or registered assigns, the principal sum of [________________] DOLLARS ($[_____________]) (or so much thereof as shall not have been prepaid) on August 9, 2020 with interest (computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 5.22% per annum from the date hereof, payable semiannually, on the February 9 and August 9 in each year, commencing with the February 9 or August 9 next succeeding the date hereof, until the principal hereof shall have become due and payable, and (b) to the extent permitted by law, on any overdue payment (including any overdue prepayment) of principal, any overdue payment of interest and any overdue payment of any Make-Whole Amount, payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand), at a rate per annum from time to time equal to the greater of (i) 7.22% or (ii) 2.0% over the rate of interest publicly announced by JPMorgan Chase Bank, N.A. from time to time in Chicago, Illinois as its “base” or “prime” rate.

 

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at the principal office of JPMorgan Chase Bank, N.A. in Chicago or at such other place as the Company shall have designated by written notice to the holder of this Note as provided in the Note Purchase Agreement referred to below.

 

This Note is one of a series of Senior Notes (herein called the “Notes”) issued pursuant to the Note Purchase Agreement, dated as of August 9, 2010 (as from time to time amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have (i) agreed to the confidentiality provisions set forth in Section 20 of the Note Purchase Agreement and (ii) made the representation set forth in Section 6.2 of the Note Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the respective meanings ascribed to such terms in the Note Purchase Agreement.

 

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a new Note for a like principal amount will be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary.

 

 

 

 

 

 

 

  

EXHIBIT 1 - 1

  

 

 

 

 

 

This Note is also subject to prepayment, in whole or from time to time in part, at the times and on the terms specified in the Note Purchase Agreement, but not otherwise.

 

If an Event of Default occurs and is continuing, the principal of this Note may be declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect provided in the Note Purchase Agreement.

 

This Note shall be construed and enforced in accordance with, and the rights of the Company and the holder of this Note shall be governed by, the law of the State of Illinois excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

 

 

	CASEY’S GENERAL STORES, INC.	 
	 	 	 
	
By:

	  	 
	
Name:

	
  

	 
	Title:  	  	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

EXHIBIT 1 - 2

  

 

 

 

EXHIBIT 4.4(a)

 

FORM OF OPINION OF COUNSEL

FOR THE COMPANY

 

The opinion of Ahlers & Cooney P.C., counsel for the Company, shall be to the effect that:

 

1. The Company and each Subsidiary is a corporation duly incorporated and validly existing in good standing under the laws of the State of Iowa, and has all requisite corporate power and authority to own and operate its properties, to carry on its business as now conducted, and, in the case of the Company, to enter into and perform the Agreement and the Notes and to issue and sell the Notes.

 

2. The Company and each Subsidiary is duly qualified or licensed and in good standing as a foreign corporation authorized to do business in each jurisdiction where the nature of its business or the character of its properties makes such qualification or licensing necessary, except where such failure to be so qualified or licensed would not have a Material Adverse Effect.

 

3. The Agreement and the Notes have been duly authorized by proper corporate action on the part of the Company, have been duly executed and delivered by authorized officers of the Company and, subject to the assumption set forth below, constitute the legal, valid and binding obligations of the Company, enforceable in accordance with their terms, except to the extent that enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws of general application, now or hereafter in effect, relating to or affecting the enforcement of the rights of creditors or by equitable principles, regardless of whether enforcement is sought in a proceeding in equity or at law.

 

4. Based upon the representations set forth in the Agreement and the representations of JP Morgan Securities Inc. in its capacity as placement agent for the Company with respect to the Notes, the offering, sale and delivery of the Notes do not require the registration of the Notes under the Securities Act of 1933, as amended, or the qualification of an indenture under the Trust Indenture Act of 1939, as amended.

 

5. No authorization, approval or consent of, and no designation, filing, declaration, registration and/or qualification with, any Governmental Authority is necessary or required in connection with the execution, delivery and performance by the Company of the Agreement and the Notes or the offering, issuance and sale by the Company of the Notes.

 

6. The issuance and sale of the Notes by the Company, the performance of the terms and conditions of the Notes and the Agreement do not conflict with, or result in any breach or violation of any of the provisions of, or constitute a default under, or result in the creation or imposition of any Lien on the property of the Company pursuant to, the provisions of (i) the Restated Articles or Restated By-laws of the Company, (ii) any loan agreement or evidence of Indebtedness known to us to which the Company is a party, or other Material agreement or instrument known to us to which the Company is a party or by which it or its property is bound or may be affected, (iii) any Iowa or federal law (including usury laws) or regulation applicable to the Company, or (iv) to our knowledge, any order, writ, injunction or decree of any court or Governmental Authority applicable to the Company.

 

 

 

 

 

  

EXHIBIT 4.4(a) - 1

  

 

 

 

 

7. To our knowledge, there are no actions, suits or proceedings pending or threatened by means of a written communication against, or affecting the Company, at law or in equity or before or by any Governmental Authority, which could reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect.

 

8. The Company is not: (i) a “public utility” as defined in the Federal Power Act, as amended, or (ii) an “investment company” or “an affiliated person” thereof, as such terms are defined in the Investment Company Act of 1940, as amended.

 

9. The issuance of the Notes and the intended use of the proceeds of the sale of the Notes do not violate or conflict with Regulation T, U or X of the Board of Governors of the Federal Reserve System.

 

The opinion of Ahlers & Cooney P.C. shall cover such other matters relating to the sale of the Notes as the Purchasers may reasonably request. With respect to matters of fact on which such opinion is based, such counsel shall be entitled to rely on appropriate certificates of public officials and officers of the Company. For purposes of the opinion regarding enforceability, Ahlers & Cooney P.C. may assume that Illinois law is in all respects identical to Iowa law. With respect to matters governed by the laws of any jurisdiction other than the United States of America and the laws of the State of Iowa, Ahlers & Cooney P.C. may rely upon the opinions of counsel deemed (and stated in their opinion to be deemed) by them to be competent and reliable. The opinion of Ahlers & Cooney P.C. may state that such opinion is delivered to its recipients solely for their benefit and may not be furnished to, quoted or relied upon by any other person other than counsel to such recipients and any successors or assigns of such recipients’ interests in the Notes; provided, however, that the opinion may be disclosed (i) to such recipients’ agents and employees as necessary, (ii) in connection with the enforcement of obligations of the Company under the Notes and the Agreement, (iii) in response to a subpoena or other legal process, (iv) as otherwise required by applicable law or regulations or (v) in connection with the sale or transfer of the Notes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

EXHIBIT 4.4(a) - 2

  

 

 

 

EXHIBIT 4.4(b)

 

FORM OF OPINION OF SPECIAL COUNSEL

TO THE PURCHASERS

 

The opinion of Schiff Hardin LLP, special counsel to the Purchasers, shall be to the effect that:

 

1. The Company is a corporation organized and validly existing in good standing under the laws of the State of Iowa, with requisite corporate power and authority to enter into the Agreement and to issue and sell the Notes.

 

2. The Agreement and the Notes have been duly authorized by proper corporate action on the part of the Company, have been duly executed and delivered by an authorized officer of the Company, and constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except to the extent that enforcement thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws of general application relating to or affecting the enforcement of the rights of creditors or by equitable principles, regardless of whether enforcement is sought in a proceeding in equity or at law.

 

3. Based upon the representations set forth in the Agreement, the offering, sale and delivery of the Notes do not require the registration of the Notes under the Securities Act of 1933, as amended, nor the qualification of an indenture under the Trust Indenture Act of 1939, as amended.

 

4. The issuance and sale of the Notes and compliance with the terms and provisions of the Notes and the Agreement will not conflict with or result in any breach of any of the provisions of the certificate of incorporation or by-laws of the Company.

 

5. No approval, consent or withholding of objection on the part of, or filing, registration or qualification with, any governmental body, Federal or state, is necessary in connection with the execution and delivery of the Agreement or the Notes.

 

Schiff Hardin LLP may rely, as to matters of Iowa law and as to the corporate power and authority of the Company and the due authorization, execution and delivery by the Company of the Agreement and the Notes upon the opinion of Ahlers & Cooney P.C. The opinion of Schiff Hardin shall state that the opinion of Ahlers & Cooney P.C. is satisfactory in form and scope to Schiff Hardin LLP, and, in its opinion, the Purchasers are justified in relying thereon. Such opinion shall cover such other matters relating to the sale of the Notes as the Purchasers may reasonably request.

 

 

 

 

 

 

 

  

EXHIBIT 4.4(b) - 1

  

 

 

 

EXHIBIT 9.7

 

 

[FORM OF GUARANTY AGREEMENT]

 

Guaranty Agreement

Dated as of [_______________, 20__]

 

of

 

[Name of Guarantor]

 

 

 

 

 

 

  

  

  

Table of Contents

	Section	 Heading	 Page
	 	 	 
	
SECTION 1.

	
GUARANTY

	
1

	
SECTION 2.

	
OBLIGATIONS ABSOLUTE

	
3

	
SECTION 3.

	
WAIVER

	
3

	
SECTION 4.

	
OBLIGATIONS UNIMPAIRED

	
4

	
SECTION 5.

	
SUBROGATION AND SUBORDINATION

	
5

	
SECTION 6.

	
REINSTATEMENT OF GUARANTY

	
5

	
SECTION 7.

	
RANK OF GUARANTY

	
6

	
SECTION 8.

	
ADDITIONAL COVENANTS OF THE GUARANTOR

	
6

	
SECTION 9.

	
REPRESENTATIONS AND WARRANTIES OF THE GUARANTOR

	
6

	  	
Section 9.1.

	
Organization; Power and Authority

	
6

	  	
Section 9.2.

	
Authorization, Etc.

	
6

	  	
Section 9.3.

	
Compliance with Laws, Other Instruments, Etc.

	
6

	  	
Section 9.4.

	
Governmental Authorizations, Etc.

	
7

	  	
Section 9.5.

	
Information Regarding the Company

	
7

	  	
Section 9.6.

	
Solvency

	
7

	
SECTION 10.

	
TERM OF GUARANTY AGREEMENT

	
8

	
SECTION 11.

	
SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT

	
8

	
SECTION 12.

	
AMENDMENT AND WAIVER

	
8

	  	
Section 12.1.

	
Requirements

	
8

	  	
Section 12.2.

	
Solicitation of Holders of Notes

	
8

	  	
Section 12.3.

	
Binding Effect

	
9

	  	
Section 12.4.

	
Notes Held By Company, Etc.

	
9

	
SECTION 13.

	
NOTICES

	
9

	
SECTION 14.

	
MISCELLANEOUS

	
10

	  	
Section 14.1.

	
Successors and Assigns

	
10

	  	
Section 14.2.

	
Severability

	
10

	  	
Section 14.3.

	
Construction

	
10

	  	
Section 14.4.

	
Further Assurances

	
10

	  	
Section 14.5.

	
Governing Law

	
10

	  	
Section 14.6.

	
Jurisdiction and Process; Waiver of Jury Trial

	
11

 

 

 

 

  

  

  

 

GUARANTY AGREEMENT

 

This Guaranty Agreement, dated as of [_______________, 20__] (this “Guaranty Agreement”), is made by [_______________], a [_______________] (the “Guarantor”) in favor of the Purchasers (as defined below) and the other holders from time to time of the Notes (as defined below).  The Purchasers and such other holders are herein collectively called the “holders” and individually a “holder.”

 

PRELIMINARY STATEMENTS:

 

        I.            Casey’s General Store, Inc., an Iowa corporation (the “Company”), has entered into a Note Purchase Agreement dated as of August 9, 2010 (as amended, modified, supplemented or restated from time to time, the “Note Agreement”) with the Persons listed on the signature pages thereto (the “Purchasers”). Capitalized terms used herein have the meanings specified in the Note Agreement unless otherwise defined herein.

 

        II.           The Company has authorized the issuance, pursuant to the Note Agreement, of 5.22% Senior Notes due August 9, 2020 in the aggregate principal amount of $569,000,000. Pursuant to the Note Agreement, the Company has issued $569,000,000 aggregate principal amount of its 5.22% Senior Notes due August 9, 2020 (the “Initial Notes”). The Initial Notes and any other Notes that may from time to time be issued pursuant to the Note Agreement (including any notes issued in substitution for any of the Notes) are herein collectively called the “Notes” and individually a “Note”.

 

III.           Pursuant to the Note Agreement, the Guarantor is required to execute and deliver this Guaranty Agreement.

 

IV.           The Guarantor will receive direct and indirect benefits from the financing arrangements contemplated by the Note Agreement. The [Board of Directors] of the Guarantor has determined that the incurrence of such obligations is in the best interests of the Guarantor.

 

NOW THEREFORE, in order to comply with the terms of the Note Agreement, and in consideration of, the execution and delivery of the Note Agreement and the purchase of the Notes by each of the Purchasers, the Guarantor hereby covenants and agrees with, and represents and warrants to each of the holders as follows:

 

SECTION 1.    GUARANTY.

 

The Guarantor hereby irrevocably and unconditionally guarantees to each holder, the due and punctual payment in full of (a) the principal of, Make-Whole Amount, if any, and interest on (including, without limitation, interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding), and any other amounts due under, the Notes when and as the same shall become due and payable (whether at stated maturity or by required or optional prepayment or by acceleration or otherwise) and (b) any other sums which may become due under the terms and provisions of the Notes, the Note Agreement or any other instrument referred to therein (all such obligations described in clauses (a) and (b) above are herein called the “Guaranteed Obligations”). The guaranty in the preceding sentence is an absolute, present and continuing guaranty of payment and not of collectibility and is in no way conditional or contingent upon any attempt to collect from the Company or any other guarantor of the Notes or upon any other action, occurrence or circumstance whatsoever. In the event that the Company shall fail so to pay any of such Guaranteed Obligations, the Guarantor agrees to pay the same when due to the holders entitled thereto, without demand, presentment, protest or notice of any kind, in lawful money of the United States of America, pursuant to the requirements for payment specified in the Notes and the Note Agreement. Each default in payment of any of the Guaranteed Obligations shall give rise to a separate cause of action hereunder and separate suits may be brought hereunder as each cause of action arises. The Guarantor agrees that the Notes issued in connection with the Note Agreement may (but need not) make reference to this Guaranty Agreement.

 

 

 

EXHIBIT 9.7-1

 

 

 

The Guarantor agrees to pay and to indemnify and save each holder harmless from and against any damage, loss, cost or expense (including attorneys’ fees) which such holder may incur or be subject to as a consequence, direct or indirect, of (x) any breach by the Guarantor or by the Company of any warranty, covenant, term or condition in, or the occurrence of any default under, this Guaranty Agreement, the Notes, the Note Agreement or any other instrument referred to therein, together with all expenses resulting from the compromise or defense of any claims or liabilities arising as a result of any such breach or default, (y) any legal action commenced to challenge the validity or enforceability of this Guaranty Agreement, the Notes, the Note Agreement or any other instrument referred to therein and (z) enforcing or defending (or determining whether or how to enforce or defend) the provisions of this Guaranty Agreement.

 

The Guarantor hereby acknowledges and agrees that the Guarantor’s liability hereunder is joint and several with any other Person(s) who may guarantee the obligations and Indebtedness under and in respect of the Notes and the Note Agreement.

 

Notwithstanding the foregoing provisions or any other provision of this Guaranty Agreement, the Purchasers (on behalf of themselves and their successors and assigns) and the Guarantor hereby agree that if at any time the Guaranteed Obligations exceed the Maximum Guaranteed Amount determined as of such time with regard to the Guarantor, then this Guaranty Agreement shall be automatically amended to reduce the Guaranteed Obligations to the Maximum Guaranteed Amount. Such amendment shall not require the written consent of the Guarantor or any holder and shall be deemed to have been automatically consented to by the Guarantor and each holder. The Guarantor agrees that the Guaranteed Obligations may at any time exceed the Maximum Guaranteed Amount without affecting or impairing the obligation of the Guarantor. “Maximum Guaranteed Amount” means as of the date of determination with respect to the Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render the Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

 

 

 

EXHIBIT 9.7-2

 

 

 

SECTION 2.    OBLIGATIONS ABSOLUTE.

 

Unless the Guarantor has been released from this Guaranty Agreement pursuant to the Note Agreement, the obligations of the Guarantor hereunder shall be primary, absolute, irrevocable and unconditional, irrespective of the validity or enforceability of the Notes, the Note Agreement or any other instrument referred to therein, shall not be subject to any counterclaim, setoff, deduction or defense based upon any claim the Guarantor may have against the Company or any holder or otherwise, and shall remain in full force and effect without regard to, and shall not be released, discharged or in any way affected by, any circumstance or condition whatsoever (whether or not the Guarantor shall have any knowledge or notice thereof), including, without limitation: (a) any amendment to, modification of, supplement to or restatement of the Notes, the Note Agreement or any other instrument referred to therein (it being agreed that the obligations of the Guarantor hereunder shall apply to the Notes, the Note Agreement or any such other instrument as so amended, modified, supplemented or restated) or any assignment or transfer of any thereof or of any interest therein, or any furnishing, acceptance or release of any security for the Notes; (b) any waiver, consent, extension, indulgence or other action or inaction under or in respect of the Notes, the Note Agreement or any other instrument referred to therein; (c) any bankruptcy, insolvency, arrangement, reorganization, readjustment, composition, liquidation or similar proceeding with respect to the Company or its property; (d) any merger, amalgamation or consolidation of the Guarantor or of the Company into or with any other Person or any sale, lease or transfer of any or all of the assets of the Guarantor or of the Company to any Person; (e) any failure on the part of the Company for any reason to comply with or perform any of the terms of any other agreement with the Guarantor; (f) any failure on the part of any holder to obtain, maintain, register or otherwise perfect any security; or (g) any other event or circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor (whether or not similar to the foregoing), and in any event however material or prejudicial it may be to the Guarantor or to any subrogation, contribution or reimbursement rights the Guarantor may otherwise have. The Guarantor covenants that its obligations hereunder will not be discharged except by indefeasible payment in full in cash of all of the Guaranteed Obligations and all other obligations hereunder.

 

SECTION 3.    WAIVER.

 

The Guarantor unconditionally waives to the fullest extent permitted by law, (a) notice of acceptance hereof, of any action taken or omitted in reliance hereon and of any default by the Company in the payment of any amounts due under the Notes, the Note Agreement or any other instrument referred to therein, and of any of the matters referred to in Section 2 hereof, (b) all notices which may be required by statute, rule of law or otherwise to preserve any of the rights of any holder against the Guarantor, including, without limitation, presentment to or demand for payment from the Company or the Guarantor with respect to any Note, notice to the Company or to the Guarantor of default or protest for nonpayment or dishonor and the filing of claims with a court in the event of the bankruptcy of the Company, (c) any right to require any holder to enforce, assert or exercise any right, power or remedy including, without limitation, any right, power or remedy conferred in the Note Agreement or the Notes, (d) any requirement for diligence on the part of any holder and (e) any other act or omission or thing or delay in doing any other act or thing which might in any manner or to any extent vary the risk of the Guarantor or otherwise operate as a discharge of the Guarantor or in any manner lessen the obligations of the Guarantor hereunder.

 

 

 

EXHIBIT 9.7-3

 

 

 

SECTION 4.    OBLIGATIONS UNIMPAIRED.

 

The Guarantor authorizes the holders, without notice or demand to the Guarantor and without affecting its obligations hereunder, from time to time: (a) to renew, compromise, extend, accelerate or otherwise change the time for payment of, all or any part of the Notes, the Note Agreement or any other instrument referred to therein; (b) to change any of the representations, covenants, events of default or any other terms or conditions of or pertaining to the Notes, the Note Agreement or any other instrument referred to therein, including, without limitation, decreases or increases in amounts of principal, rates of interest, the Make-Whole Amount or any other obligation; (c) to take and hold security for the payment of the Notes, the Note Agreement or any other instrument referred to therein, for the performance of this Guaranty Agreement or otherwise for the Indebtedness guaranteed hereby and to exchange, enforce, waive, subordinate and release any such security; (d) to apply any such security and to direct the order or manner of sale thereof as the holders in their sole discretion may determine; (e) to obtain additional or substitute endorsers or guarantors; (f) to exercise or refrain from exercising any rights against the Company and others; and (g) to apply any sums, by whomsoever paid or however realized, to the payment of the Guaranteed Obligations and all other obligations owed hereunder. The holders shall have no obligation to proceed against any additional or substitute endorsers or guarantors or to pursue or exhaust any security provided by the Company, the Guarantor or any other Person or to pursue any other remedy available to the holders.

 

If an event permitting the acceleration of the maturity of the principal amount of any Notes shall exist and such acceleration shall at such time be prevented or the right of any holder to receive any payment on account of the Guaranteed Obligations shall at such time be delayed or otherwise affected by reason of the pendency against the Company, the Guarantor or any other guarantors of a case or proceeding under a bankruptcy or insolvency law, the Guarantor agrees that, for purposes of this Guaranty Agreement and its obligations hereunder, the maturity of such principal amount shall be deemed to have been accelerated with the same effect as if the holder thereof had accelerated the same in accordance with the terms of the Note Agreement, and the Guarantor shall forthwith pay such accelerated Guaranteed Obligations.

 

 

 

EXHIBIT 9.7-4

 

 

 

SECTION 5.    SUBROGATION AND SUBORDINATION.

 

(a)           The Guarantor will not exercise any rights which it may have acquired by way of subrogation under this Guaranty Agreement, by any payment made hereunder or otherwise, or accept any payment on account of such subrogation rights, or any rights of reimbursement, contribution or indemnity or any rights or recourse to any security for the Notes or this Guaranty Agreement unless and until all of the Guaranteed Obligations shall have been indefeasibly paid in full in cash.

 

(b)           The Guarantor hereby subordinates the payment of all Indebtedness and other obligations of the Company or any other guarantor of the Guaranteed Obligations owing to the Guarantor, whether now existing or hereafter arising, including, without limitation, all rights and claims described in clause (a) of this Section 5, to the indefeasible payment in full in cash of all of the Guaranteed Obligations. If the Required Holders so request, any such Indebtedness or other obligations shall be enforced and performance received by the Guarantor as trustee for the holders and the proceeds thereof shall be paid over to the holders promptly, in the form received (together with any necessary endorsements) to be applied to the Guaranteed Obligations, whether matured or unmatured, as may be directed by the Required Holders, but without reducing or affecting in any manner the liability of the Guarantor under this Guaranty Agreement.

 

(c)           If any amount or other payment is made to or accepted by the Guarantor in violation of any of the preceding clauses (a) and (b) of this Section 5, such amount shall be deemed to have been paid to the Guarantor for the benefit of, and held in trust for the benefit of, the holders and shall be paid over to the holders promptly, in the form received (together with any necessary endorsements) to be applied to the Guaranteed Obligations, whether matured or unmatured, as may be directed by the Required Holders, but without reducing or affecting in any manner the liability of the Guarantor under this Guaranty Agreement.

 

(d)           The Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Note Agreement and that its agreements set forth in this Guaranty Agreement (including this Section 5) are knowingly made in contemplation of such benefits.

 

SECTION 6.   REINSTATEMENT OF GUARANTY.

 

This Guaranty Agreement shall continue to be effective, or be reinstated, as the case may be, if and to the extent at any time payment, in whole or in part, of any of the sums due to any holder on account of the Guaranteed Obligations is rescinded or must otherwise be restored or returned by a holder upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any other guarantors, or upon or as a result of the appointment of a custodian, receiver, trustee or other officer with similar powers with respect to the Company or any other guarantors or any part of its or their property, or otherwise, all as though such payments had not been made.

 

 

 

EXHIBIT 9.7-5

 

 

 

SECTION 7.   RANK OF GUARANTY.

 

The Guarantor will ensure that its payment obligations under this Guaranty Agreement will at all times rank at least pari passu, without preference or priority, with all other unsecured and unsubordinated Indebtedness of the Guarantor now or hereafter existing; it being agreed that the presence or absence of security or collateral for an obligation shall not affect its ranking.

 

SECTION 8.    ADDITIONAL COVENANTS OF THE GUARANTOR.

 

So long as any Notes are outstanding or the Note Agreement shall remain in effect, the Guarantor agrees that, unless the Required Holders otherwise consent in writing, to the extent applicable to it, it shall comply with all of the covenants in Section 9 and 10 of the Note Agreement.

 

SECTION 9.    REPRESENTATIONS AND WARRANTIES OF THE GUARANTOR.

 

The Guarantor represents and warrants to each holder as follows:

 

        SECTION 9.1.       ORGANIZATION; POWER AND AUTHORITY. The Guarantor is a [_______________], duly organized, validly existing and in good standing under the laws of its jurisdiction of [_______________], and is duly qualified as a foreign [_______________] and is in good standing in each jurisdiction in which such qualification is required by law, other than those jurisdictions as to which the failure to be so qualified or in good standing could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. The Guarantor has the [_______________] power and authority to own or hold under lease the properties it purports to own or hold under lease, to transact the business it transacts and proposes to transact, to execute and deliver this Guaranty Agreement and to perform the provisions hereof.

 

SECTION 9.2.       AUTHORIZATION, ETC. This Guaranty Agreement has been duly authorized by all necessary [_______________] action on the part of the Guarantor, and this Guaranty Agreement constitutes a legal, valid and binding obligation of the Guarantor enforceable against the Guarantor in accordance with its terms, except as such enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and (b) general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

SECTION 9.3.       COMPLIANCE WITH LAWS, OTHER INSTRUMENTS, ETC. The execution, delivery and performance by the Guarantor of this Guaranty Agreement will not (a) contravene, result in any breach of, or constitute a default under, or result in the creation of any Lien in respect of any property of the Guarantor or any of its Subsidiaries under, any indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, organizational documents, or any other agreement or instrument to which the Guarantor or any of its Subsidiaries is bound or by which the Guarantor or any of its Subsidiaries or any of their respective properties may be bound or affected, (b) conflict with or result in a breach of any of the terms, conditions or provisions of any order, judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the Guarantor or any of its Subsidiaries or (c) violate any provision of any statute or other rule or regulation of any Governmental Authority applicable to the Guarantor or any of its Subsidiaries. “Governmental Authority” means (x) the government of (i) the United States of America or any State or other political subdivision thereof, or (ii) any other jurisdiction in which the Guarantor or any of its Subsidiaries conducts all or any part of its business, or which asserts jurisdiction over any properties of the Guarantor or any of its Subsidiaries, or (y) any entity exercising executive, legislative, judicial, regulatory or administrative functions of, or pertaining to, any such government.

 

 

 

EXHIBIT 9.7-6

 

 

 

SECTION 9.4.               GOVERNMENTAL AUTHORIZATIONS, ETC. No consent, approval or authorization of, or registration, filing or declaration with, any Governmental Authority is required in connection with the execution, delivery or performance by the Guarantor of this Guaranty Agreement.

 

SECTION 9.5.       INFORMATION REGARDING THE COMPANY. The Guarantor now has and will continue to have independent means of obtaining information concerning the affairs, financial condition and business of the Company. No holder shall have any duty or responsibility to provide the Guarantor with any credit or other information concerning the affairs, financial condition or business of the Company which may come into possession of the holders. The Guarantor has executed and delivered this Guaranty Agreement without reliance upon any representation by the holders including, without limitation, with respect to (a) the due execution, validity, effectiveness or enforceability of any instrument, document or agreement evidencing or relating to any of the Guaranteed Obligations or any loan or other financial accommodation made or granted to the Company, (b) the validity, genuineness, enforceability, existence, value or sufficiency of any property securing any of the Guaranteed Obligations or the creation, perfection or priority of any lien or security interest in such property or (c) the existence, number, financial condition or creditworthiness of other guarantors or sureties, if any, with respect to any of the Guaranteed Obligations.

 

SECTION 9.6.       SOLVENCY. Upon the execution and delivery hereof, the Guarantor will be Solvent.

 

 

 

EXHIBIT 9.7-7

 

 

 

SECTION 10.          TERM OF GUARANTY AGREEMENT.

 

This Guaranty Agreement and all guarantees, covenants and agreements of the Guarantor contained herein shall continue in full force and effect and shall not be discharged until such time as this Guaranty Agreement is released in accordance with the Note Agreement or, if earlier, such time as all of the Guaranteed Obligations and all other obligations hereunder shall be indefeasibly paid in full in cash. This Guaranty Agreement shall be subject to reinstatement pursuant to Section 6.

 

SECTION 11.          SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

 

All representations and warranties contained herein shall survive the execution and delivery of this Guaranty Agreement and may be relied upon by any subsequent holder, regardless of any investigation made at any time by or on behalf of any Purchaser or any other holder. All statements contained in any certificate or other instrument delivered by or on behalf of the Guarantor pursuant to this Guaranty Agreement shall be deemed representations and warranties of the Guarantor under this Guaranty Agreement. Subject to the preceding sentence, this Guaranty Agreement embodies the entire agreement and understanding between each holder and the Guarantor and supersedes all prior agreements and understandings relating to the subject matter hereof.

 

SECTION 12.          AMENDMENT AND WAIVER.

 

SECTION 12.1.   REQUIREMENTS. Except as otherwise provided in the fourth paragraph of Section 1 of this Guaranty Agreement, this Guaranty Agreement may be amended, and the observance of any term hereof may be waived (either retroactively or prospectively), with (and only with) the written consent of the Guarantor and the Required Holders, except that no amendment or waiver (a) of any of the first three paragraphs of Section 1 or any of the provisions of Section 2, 3, 4, 5, 6, 7, 10 or 12 hereof, or any defined term (as it is used therein), or (b) which results in the limitation of the liability of the Guarantor hereunder (except to the extent provided in the fourth paragraph of Section 1 of this Guaranty Agreement) will be effective as to any holder unless consented to by such holder in writing.

 

SECTION 12.2.   SOLICITATION OF HOLDERS OF NOTES.

 

(a)           Solicitation.  The Guarantor will provide each holder of the Notes (irrespective of the amount of Notes then owned by it) with sufficient information, sufficiently far in advance of the date a decision is required, to enable such holder to make an informed and considered decision with respect to any proposed amendment, waiver or consent in respect of any of the provisions hereof. The Guarantor will deliver executed or true and correct copies of each amendment, waiver or consent effected pursuant to the provisions of this Section 13.2 to each holder promptly following the date on which it is executed and delivered by, or receives the consent or approval of, the requisite holders of Notes.

 

(b)           Payment.  The Guarantor will not directly or indirectly pay or cause to be paid any remuneration, whether by way of supplemental or additional interest, fee or otherwise, or grant any security or provide other credit support, to any holder as consideration for or as an inducement to the entering into by any holder of any waiver or amendment of any of the terms and provisions hereof unless such remuneration is concurrently paid, or security is concurrently granted or other credit support concurrently provided, on the same terms, ratably to each holder even if such holder did not consent to such waiver or amendment.

 

 

 

EXHIBIT 9.7-8

 

 

 

        SECTION 12.3.   BINDING EFFECT.  Any amendment or waiver consented to as provided in this Section 13 applies equally to all holders and is binding upon them and upon each future holder and upon the Guarantor without regard to whether any Note has been marked to indicate such amendment or waiver. No such amendment or waiver will extend to or affect any obligation, covenant or agreement not expressly amended or waived or impair any right consequent thereon. No course of dealing between the Guarantor and the holder nor any delay in exercising any rights hereunder or under any Note shall operate as a waiver of any rights of any holder. As used herein, the term “this Guaranty Agreement” and references thereto shall mean this Guaranty Agreement as it may be amended, modified, supplemented or restated from time to time.

 

SECTION 12.4.    NOTES HELD BY COMPANY, ETC.  Solely for the purpose of determining whether the holders of the requisite percentage of the aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver or consent to be given under this Guaranty Agreement, or have directed the taking of any action provided herein to be taken upon the direction of the holders of a specified percentage of the aggregate principal amount of Notes then outstanding, Notes directly or indirectly owned by the Guarantor, the Company or any of their respective Affiliates shall be deemed not to be outstanding.

 

SECTION 13.          NOTICES.

 

All notices and communications provided for hereunder shall be in writing and sent (a) by telecopy if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), or (b) by registered or certified mail with return receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with charges prepaid). Any such notice must be sent:

 

(a)            if to the Guarantor, to c/o the Company at its address set forth in the Note Agreement, or such other address as the Guarantor shall have specified to the holders in writing, or

 

(b)            if to any holder, to such holder at the addresses specified for such communications set forth in Schedule A to the Note Agreement, or such other address as such holder shall have specified to the Guarantor in writing.

 

 

 

EXHIBIT 9.7-9

 

 

 

SECTION 14.          MISCELLANEOUS.

 

SECTION 14.1.    SUCCESSORS AND ASSIGNS. All covenants and other agreements contained in this Guaranty Agreement by or on behalf of any of the parties hereto bind and inure to the benefit of their respective successors and assigns whether so expressed or not.

 

SECTION 14.2.    SEVERABILITY. Any provision of this Guaranty Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be  ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall (to the full extent permitted by law), not invalidate or render unenforceable such provision in any other jurisdiction.

 

SECTION 14.3.    CONSTRUCTION. Each covenant contained herein shall be construed (absent express provision to the contrary) as being independent of each other covenant contained herein, so that compliance with any one covenant shall not (absent such express contrary provision) be deemed to excuse compliance with any other covenant. Whether any provision herein refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person.

 

The section and subsection headings in this Guaranty Agreement are for convenience of reference only and shall neither be deemed to be a part of this Guaranty Agreement nor modify, define, expand or limit any of the terms or provisions hereof. All references herein to numbered sections, unless otherwise indicated, are to sections of this Guaranty Agreement. Words and definitions in the singular shall be read and construed as though in the plural and vice versa, and words in the masculine, neuter or feminine gender shall be read and construed as though in either of the other genders where the context so requires.

 

SECTION 14.4.    FURTHER ASSURANCES. The Guarantor agrees to execute and deliver all such instruments and take all such action as the Required Holders may from time to time reasonably request in order to effectuate fully the purposes of this Guaranty Agreement.

 

SECTION 14.5.    GOVERNING LAW. This Guaranty Agreement shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of Illinois, excluding choice-of-law principles of the law of such State that would permit the application of the laws of a jurisdiction other than such State.

 

 

 

EXHIBIT 9.7-10

 

 

 

SECTION 14.6.    JURISDICTION AND PROCESS; WAIVER OF JURY TRIAL.

 

(a)           The Guarantor irrevocably submits to the non-exclusive jurisdiction of any Illinois State or federal court sitting in the city of Chicago, over any suit, action or proceeding arising out of or relating to this Guaranty Agreement. To the fullest extent permitted by applicable law, the Guarantor irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 

(b)           The Guarantor consents to process being served by or on behalf of any holder in any suit, action or proceeding of the nature referred to in Section 14.6(a) by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, return receipt requested, to it at its address specified in Section 13 or at such other address of which such holder shall then have been notified pursuant to Section 13. The Guarantor agrees that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it. Notices hereunder shall be conclusively presumed received as evidenced by a delivery receipt furnished by the United States Postal Service or any reputable commercial delivery service.

 

(c)           Nothing in this Section 14.6 shall affect the right of any holder to serve process in any manner permitted by law, or limit any right that the holders may have to bring proceedings against the Guarantor in the courts of any appropriate jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in any other jurisdiction.

 

(d)           THE GUARANTOR AND THE HOLDERS HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO THIS GUARANTY AGREEMENT OR OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH.

 

IN WITNESS WHEREOF, the Guarantor has caused this Guaranty Agreement to be duly executed and delivered as of the date and year first above written.

 

	
[NAME OF GUARANTOR]

	  
	 
	
By:

	  
	  	
Name:

	  	
Title:

 

 

 

 

 

EXHIBIT 9.7-11

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