Document:

Exhibit 10.1

	
 

	
REGISTRATION
RIGHTS AGREEMENT

	
 

	
by and among

	
 

	
CIT Group Inc.

	
the
Guarantors party hereto

	
 

	
and

	
 

	
J.P.
Morgan Securities LLC

	
as

	
the
Representative of the Initial Purchasers

	
 

	
Dated as of February 7, 2012

REGISTRATION RIGHTS AGREEMENT

          This
Registration Rights Agreement (this “Agreement”) is made and entered into as of
February 7, 2012, by and among CIT Group Inc., a Delaware corporation (the
“Company”), the guarantors party hereto (collectively, the “Guarantors”) and
J.P. Morgan Securities LLC as the representative of the initial purchasers
listed on Schedule A to the Purchase Agreement (defined below) (the “Initial
Purchasers”), each of whom has agreed to purchase the Company’s 4.750% Series C
Second-Priority Secured Notes due 2015, and its 5.500% Series C Second-Priority
Secured Notes due 2019 (collectively, the “Notes”) fully and unconditionally
guaranteed by the Guarantors (the “Guarantees”) pursuant to the terms set forth
in the Purchase Agreement. The Notes and the Guarantees attached thereto are
herein collectively referred to as the “Securities”.

          This
Agreement is made pursuant to the Purchase Agreement, dated February 2, 2012
(the “Purchase Agreement”), among the Company, the Guarantors and the
Representative and is (i) for the benefit of the Initial Purchasers and
(ii) for the benefit of the holders from time to time of Transfer Restricted
Securities, including the Initial Purchasers. In order to induce the Initial
Purchasers to purchase the Securities, the Company has agreed to provide the
registration rights set forth in this Agreement. The execution and delivery of
this Agreement is a condition to the obligations of the Initial Purchasers set
forth in Section 5(f) of the Purchase Agreement.

          The
parties hereby agree as follows:

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

          Additional
Interest: As defined in Section 5 hereof.

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

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

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

          Closing
Date: The date of this Agreement.

          Commission:
The Securities and Exchange Commission.

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

thereof that
are not prohibited by any law or policy of the Commission from participating in
such offer pursuant to the Exchange Offer.

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

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

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

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

          Exchange
Securities: The 4.750% Series C Second-Priority
Secured Notes due 2015, and the 5.500% Series C Second-Priority Secured Notes
due 2019, of the same series under the Indenture as the Notes and the
Guarantees attached thereto, to be issued to Holders in exchange for Transfer
Restricted Securities pursuant to this Agreement.

          FINRA:
Financial Industry Regulatory Authority, Inc.

          Freely
Tradable: Means, with respect to a Security, a
Security that at any time of determination (i) may be sold to the public
in accordance with Rule 144 under the Securities Act (“Rule 144”) by a person
that is not an “affiliate” (as defined in Rule 144 under the Securities Act) of
the Company where no conditions of Rule 144 are then applicable (other than the
holding period requirement in paragraph (d) of Rule 144 so long as such holding
period requirement is satisfied at such time of determination), (ii) does not
bear any restrictive legends relating to the Securities Act and (iii) bears an
unrestricted CUSIP number.

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

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

          Indenture:
The Indenture, dated as of March 30, 2011, by and
among the Company, the Guarantors and Deutsche Bank Trust Company Americas, as
trustee (the “Trustee”), pursuant to which the Securities are to be issued, as
such Indenture is amended or supplemented from time to time in accordance with
the terms thereof.

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

          Initial
Purchaser: As defined in the preamble hereto.

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

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

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

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

          Purchase
Agreement: As defined in the preamble hereto.

          Registration
Default: As defined in Section 5 hereof.

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

          Securities:
As defined in the preamble hereto.

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

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

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

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

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

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

          SECTION
2. Securities
Subject to this Agreement.

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

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

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          SECTION
3. Registered
Exchange Offer.

          (a)
Unless the Exchange Offer shall not be permissible under applicable law or
Commission policy (in the reasonable advice of counsel to the Company), or
there are no Transfer Restricted Securities outstanding, each of the Company and
the Guarantors shall (i) cause to be filed with the Commission, a Registration
Statement under the Securities Act relating to the Exchange Securities and the
Exchange Offer, (ii) use its commercially reasonable efforts to cause such
Registration Statement to become effective, (iii) in connection with the
foregoing, file (A) all pre-effective amendments to such Registration Statement
as may be necessary in order to cause such Registration Statement to become
effective, (B) if applicable, a post-effective amendment to such Registration
Statement pursuant to Rule 430A under the Securities Act and (C) cause all
necessary filings in connection with the registration and qualification of the
Exchange Securities to be made under the state securities or blue sky laws of
such jurisdictions as are reasonably necessary to permit Consummation of the
Exchange Offer; provided, however, that none of the Company or the
Guarantors shall be required to register or qualify as a foreign corporation
where it is not then so qualified or to take any action that would subject it
to the service of process in suits or to taxation in any jurisdiction where it
is not then so subject, and (iv) use its commercially reasonable efforts to
Consummate the Exchange Offer not later than 366 days following the Closing
Date (or if such 366th day is not a Business Day, the next succeeding Business
Day) (the “Exchange Date”); provided, however, that the Company
shall not be required to Consummate such Exchange Offer if all of the
Securities are Freely Tradable on or before the Exchange Date. The Exchange
Offer, if required pursuant to this Section 3(a), shall be on the
appropriate form permitting registration of the Exchange Securities to be
offered in exchange for the Transfer Restricted Securities and to permit
resales of Transfer Restricted Securities held by Broker-Dealers as
contemplated by Section 3(c) hereof.

          (b)
If an Exchange Offer Registration Statement is required to be filed and
declared effective pursuant to Section 3(a) above, the Company and the
Guarantors shall use their commercially reasonable efforts to cause the Exchange
Offer Registration Statement to be effective continuously and shall keep the
Exchange Offer open for a period of not less than the minimum period required
under applicable federal and state securities laws to Consummate the Exchange
Offer; provided,
however, that in no event shall such period be less than 20 Business
Days after the date notice of the Exchange Offer is mailed to the Holders. The
Company shall cause the Exchange Offer to comply in all material respects with
all applicable federal and state securities laws. No securities other than the
Exchange Securities shall be included in the Exchange Offer Registration
Statement. 

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

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          Each
of the Company and the Guarantors shall use its commercially reasonable efforts
to keep the Exchange Offer Registration Statement continuously effective,
supplemented and amended as required by the provisions of Section 6(c) hereof
to the extent reasonably necessary to provide reasonable assurance that it is
available for resales of Transfer Restricted Securities acquired by
Broker-Dealers for their own accounts as a result of market-making activities
or other trading activities, and to provide reasonable assurance that it
conforms in all material respects with the requirements of this Agreement, the
Securities Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period ending on the earlier of (i) 180 days
from the date on which the Exchange Offer Registration Statement is declared
effective and (ii) the date on which a Broker-Dealer is no longer required to
deliver a prospectus in connection with market-making or other trading
activities.

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

          Notwithstanding
anything in this Section 3 to the contrary, the requirements to file and the
requirements to Consummate the Exchange Offer shall terminate at such time as
all the Securities are Freely Tradable. 

          SECTION
4. Shelf
Registration.

          (a)
Shelf
Registration. If (i) the Company is not required to file an Exchange
Offer Registration Statement or to consummate the Exchange Offer as
contemplated by Section 3 solely because the Exchange Offer is not permitted by
applicable law or Commission policy (as determined by the Company upon the
reasonable advice of its outside counsel), (ii) for any reason the Exchange
Offer is not Consummated by the Exchange Date and the Securities are not all
Freely Tradable prior to such time, or (iii) prior to the Exchange Date: (A)
the Initial Purchasers request from the Company with respect to Transfer
Restricted Securities in an aggregate principal amount of at least $5,000,000
not eligible to be exchanged for Exchange Securities in the Exchange Offer, (B)
with respect to any Holder (other than an Initial Purchaser) of Transfer Restricted
Securities in an aggregate principal amount of at least $5,000,000 such Holder
notifies the Company that (x) such Holder is prohibited by applicable law or
Commission policy from participating in the Exchange Offer, (y) such Holder may
not resell the Exchange Securities acquired by it in the Exchange Offer to the
public without delivering a prospectus and that the Prospectus contained in the
Exchange Offer Registration Statement is not appropriate or available for such
resales by such Holder, or (z) such Holder is a Broker-Dealer and holds
Transfer Restricted Securities acquired directly from the Company or one of its
affiliates or (C) in the case of any Initial Purchaser, such Initial Purchaser
notifies the Company it will not receive Freely Tradable Exchange Securities in
exchange for Transfer Restricted Securities in an aggregate principal 

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amount of at
least $5,000,000 and constituting such Initial Purchaser’s unsold allotment,
the Company and the Guarantors shall:

	
 

	
 

	
 

	
          (x)
as promptly as reasonably practicable cause to be filed a shelf registration
statement pursuant to Rule 415 under the Securities Act, which may be an
amendment to the Exchange Offer Registration Statement (in either event, the
“Shelf Registration Statement”) on or prior to the 30th day after the date
such obligation arises but no earlier than the 366th day after the Closing
Date (or if such 366th day is not a Business Day, the next succeeding
Business Day) (such date being the “Shelf Filing Deadline”), which Shelf
Registration Statement shall provide for resales of all Transfer Restricted
Securities the Holders of which shall have provided the information required
pursuant to Section 4(b) hereof; and

	
 

	
 

	
 

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

	
 

	
 

	
 

	
provided, however,
that no Holder (other than an Initial Purchaser) shall be entitled to have
the Transfer Restricted Securities held by it covered by such Shelf
Registration Statement unless such Holder agrees in writing to be bound by
all of the provisions of this Agreement applicable to such Holder (with the
Initial Purchasers’ agreement thereto being evidenced by their execution of
this Agreement); and provided further, that with respect to
Exchange Securities received by an Initial Purchaser in exchange for Transfer
Restricted Securities constituting any portion of an unsold allotment, the
Company may, if permitted by current interpretations by the Commission’s
staff, file a post-effective amendment to the Exchange Offer Registration
Statement containing the information required by Item 507 or 508 of
Regulation S-K, as applicable, in satisfaction of its obligations under this
subsection with respect thereto, and any such Exchange Offer Registration
Statement, as so amended, shall be referred to herein as, and governed by the
provisions herein applicable to, a Shelf Registration Statement.

          Each
of the Company and the Guarantors shall use its commercially reasonable efforts
to keep such Shelf Registration Statement continuously effective, supplemented
and amended as required by the provisions of Sections 6(a) and (b) hereof to
the extent necessary to permit the prospectus included therein to be lawfully
delivered by the Holders of Transfer Restricted Securities entitled to the
benefit of this Section 4(a), and to provide reasonable assurance that it
conforms in all material respects with the requirements of this Agreement, the
Securities Act and the policies, rules and regulations of the Commission as
announced from time to time, until the earlier of (i) the second anniversary of
the Closing Date and (ii) when all the Transfer Restricted Securities covered
by such Shelf Registration Statement have been sold pursuant to such Shelf
Registration Statement or are Freely Tradable. Notwithstanding anything to the
contrary, the requirements to file a Shelf Registration Statement and to have
such Shelf Registration Statement become effective and remain effective shall
terminate at such time as all of the Securities are Freely Tradable.

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

          SECTION
5. Additional
Interest.

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

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

          (b)
A Registration Default shall be deemed not to have occurred and be continuing
in relation to a Shelf Registration Statement or the related Prospectus if
(i) the event that would have otherwise been a Registration Default
pursuant to clause (a) of this Section 5 has occurred solely as a result of
(x) the filing of a post-effective amendment to such Shelf Registration
Statement to incorporate annual audited financial information with respect to
the Company where such post-effective amendment is not yet effective and needs
to be declared effective to permit Holders to use the related Prospectus or
(y) other material events, with respect to the Company that would need to
be described in such Shelf Registration Statement or the related Prospectus and
(ii) in the case of clause (y), the Company is proceeding promptly
and in good faith to amend or supplement such Shelf Registration Statement and
related Prospectus to describe such events; provided, however,
that in any of the cases above, if such event occurs for a period of
90 days, whether or not consecutive, Additional Interest shall be payable
in accordance with the above paragraph from the day such event occurred until
such Registration Default is cured.

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          (c)
Notwithstanding the foregoing, any Registration Default specified in clauses
(i) or (ii) of the preceding section (a) that relates to the Exchange Offer
Registration Statement or the Exchange Offer shall be deemed cured at such time
as the Shelf Registration Statement is declared effective by the Commission.

          
(d) Any amounts of Additional Interest due pursuant to Section 5(a) will be
payable in cash on the regular interest payment dates with respect to the
Securities. The amount of Additional Interest will be determined by multiplying
the applicable additional interest rate by the then outstanding principal
amount of the Securities and further multiplied by a fraction, the numerator of
which is the number of days such additional interest rate was applicable during
such period (determined on the basis of a 360 day year comprised of twelve 30
day months), and the denominator of which is 360.

          Additional Interest pursuant to this Section 5
constitutes liquidated damages with respect to Registration Defaults and shall
be the exclusive monetary remedy available to the Holders and/or the Initial
Purchasers with respect to any Registration Default.

          SECTION
6. Registration
Procedures.

          
(a) Exchange
Offer Registration Statement. (i) In connection with the Exchange Offer,
if required pursuant to Section 3(a) hereof, the Company and the Guarantors
shall comply in all material respects with all of the provisions of Section
6(c) hereof and shall use their commercially reasonable efforts to effect such
exchange to permit the sale of Transfer Restricted Securities being sold in
accordance with the intended method or methods of distribution thereof.

	
 

	
 

	
 

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

-8-

          (b)
Shelf
Registration Statement. If required pursuant to Section 4, in
connection with the Shelf Registration Statement, each of the Company and the
Guarantors shall comply in all material respects with all the provisions of
Section 6(c) hereof and shall use its commercially reasonable efforts to effect
such registration to permit the sale of the Transfer Restricted Securities
being sold in accordance with the intended method or methods of distribution
thereof, and pursuant thereto each of the Company and the Guarantors will as
soon as reasonably practicable prepare and file with the Commission a
Registration Statement relating to the registration on any appropriate form
under the Securities Act, which form shall be available for the sale of the
Transfer Restricted Securities in accordance with the intended method or methods
of distribution thereof.

          
(c) General
Provisions. In connection with any Registration Statement and any
Prospectus required by this Agreement to permit the sale or resale of Transfer
Restricted Securities (including, without limitation, any Registration
Statement and the related Prospectus required to permit resales of Transfer
Restricted Securities by Broker-Dealers), each of the Company and the
Guarantors, for the applicable period set forth in Section 3 or 4 hereof, as
applicable, or such shorter period as will terminate when all Transfer Restricted
Securities covered by such Registration Statement have been sold or are Freely
Tradable, shall:

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          
(ii) prepare and file with the Commission such amendments and post-effective
amendments to the applicable Registration Statement as may be reasonably
necessary to keep the Registration Statement effective; cause the Prospectus
to be supplemented by any required Prospectus supplement, and as so
supplemented to be filed pursuant to Rule 

-9-

	
 

	
 

	
 

	
424 under
the Securities Act, and to comply in all material respects with the
applicable provisions of Rules 424 and 430A under the Securities Act in a
timely manner; and comply in all material respects with the provisions of the
Securities Act with respect to the disposition of all securities covered by
such Registration Statement during the applicable period in accordance with
the intended method or methods of distribution by the sellers thereof set
forth in such Registration Statement or supplement to the Prospectus;

	
 

	
 

	
 

	
          
(iii) advise the underwriter(s), if any, and selling Holders promptly and, if
requested by such Persons, to confirm such advice in writing, (A) when the
Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and, with respect to any Registration Statement or any post-effective
amendment thereto, when the same has become effective, (B) of any request by
the Commission for amendments to the Registration Statement or amendments or
supplements to the Prospectus or for additional information relating thereto,
(C) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement under the Securities Act or of
the suspension by any state securities commission of the qualification of the
Transfer Restricted Securities for offering or sale in any jurisdiction, or
upon becoming aware thereof, the initiation of any proceeding for any of the
preceding purposes, (D) of the existence of any fact or the happening of any
event that makes any statement of a material fact made in the Registration
Statement, the Prospectus, any amendment or supplement thereto, or any
document incorporated by reference therein untrue, or that requires the
making of any additions to or changes in the Registration Statement or the
Prospectus in order to make the statements therein, in light of the
circumstances in which they were made, not misleading (it being understood
that the Company and the Guarantors shall so advise with respect to any
written information furnished to the Company by or on behalf of Holders
expressly for the use therein only upon becoming aware thereof). If at any
time the Commission shall issue any stop order suspending the effectiveness
of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or
exemption from qualification of the Transfer Restricted Securities under
state securities or blue sky laws, each of the Company and the Guarantors
shall use its commercially reasonable efforts to obtain the withdrawal or lifting
of such order at the earliest possible time;

	
 

	
 

	
 

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

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apply to the
Company’s annual report on Form 10-K, its quarterly reports on Form 10-Q, its
current reports on Form 8-K or any other documents filed pursuant to Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act (the “Exchange Act Documents”);
and further
provided that the Company shall promptly notify Holders of the
filing of any Exchange Act Documents and provide copies of such Exchange Act
Documents except such Exchange Act Documents or other filings related to the
offering, registration or listing of, or other acts, events, circumstances or
activities in respect of, other securities and not the Transfer Restricted
Securities. The objection of an Initial Purchaser or underwriter, if any,
shall be deemed to be reasonable if such Registration Statement, amendment,
Prospectus or supplement, as applicable, as proposed to be filed, contains an
untrue statement of a material fact or omission or omission to state a
material fact, it being understood that the Company shall not be responsible
for written information furnished to the Company by or on behalf of Holders
expressly for the use therein;

	
 

	
 

	
 

	
          
(v) make available at reasonable times for inspection by the Initial
Purchasers, the managing underwriter(s), if any, participating in any
disposition pursuant to such Registration Statement and any attorney or accountant
retained by such Initial Purchasers or any of the underwriter(s), all
financial and other records, pertinent corporate documents and properties of
each of the Company and the Guarantors and cause the Company’s and the
Guarantors’ officers, directors and employees to supply all information
reasonably requested by any such Holder, underwriter, attorney or accountant
in connection with such Registration Statement or any post-effective
amendment thereto subsequent to the filing thereof and prior to its
effectiveness and to participate in meetings with investors to the extent
requested by the managing underwriter(s), if any; provided that the Initial
Purchasers, such underwriters and such other persons, as the case may be, if
requested by the Company, shall agree to keep such information confidential
pursuant to the terms of a confidentiality agreement reasonably acceptable to
the Company;

	
 

	
 

	
 

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

	
 

	
 

	
 

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

-11-

	
 
	
 

	
 
	
          
(viii) enter into such usual and customary agreements (including an underwriting
agreement), and make such usual and customary representations and warranties,
and take all such other actions in connection therewith in order to
facilitate the disposition of the Transfer Restricted Securities pursuant to
any Registration Statement contemplated by this Agreement, all to such extent
as may be reasonably requested by any Initial Purchaser or by any Holder of
Transfer Restricted Securities or underwriter in connection with any sale or
resale pursuant to any Registration Statement contemplated by this Agreement;
and whether or not an underwriting agreement is entered into and whether or
not the registration is an Underwritten Registration, each of the Company and
the Guarantors shall:

	
 

	
 

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
          (2)
an opinion, dated the date of Consummation of the Exchange Offer or the date
of effectiveness of the Shelf Registration Statement, as the case may be, of
counsel for the Company and the Guarantors, covering the matters set forth in
Section 5(c) of the Purchase Agreement; and

	
 

	
 

	
 

	
 

	
 

	
 

	
 

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

	
 

	
 

	
 

	
 

	
 

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

-12-

	
 

	
 

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

	
 

	
 

	
 

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

-13-

	
 

	
 

	
 

	
fact or omit
to state any material fact necessary in order to make the statements therein,
in light of the circumstances in which they were made, not misleading;

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          
(xv) reasonably cooperate and assist in any filings required to be made with
the FINRA and in the performance of any due diligence investigation by any
underwriter (including any “qualified independent underwriter”) that is
required to be retained in accordance with the rules and regulations of the
FINRA, provided
that any such underwriters if requested by the Company shall agree to keep
any information obtained in the course of such due diligence investigation
confidential pursuant to the terms of a confidentiality agreement reasonably
acceptable to the Company;

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          
(xvii) cause the Indenture to be qualified under the Trust Indenture Act not
later than the effective date of the first Registration Statement required by
this Agreement, and, in connection therewith, reasonably cooperate with the
Trustee and the Holders of Securities to effect such changes to the Indenture
as may be required for such Indenture to be so qualified in accordance with
the terms of the Trust Indenture Act; and to execute and use its commercially
reasonable efforts to cause the Trustee to execute, all documents that may be
reasonably required to effect such changes and all other forms and documents
required to be filed with the Commission to enable such Indenture to be so
qualified in a timely manner;

	
 

	
 

	
 

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

	
 

	
 

	
 

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

-14-

          Each
Holder agrees by acquisition of a Transfer Restricted Security that, upon
receipt of any notice from the Company of the existence of any fact of the kind
described in Section 6(c)(iii)(C) and 6(c)(iii)(D) hereof, such Holder will
forthwith discontinue disposition of Transfer Restricted Securities pursuant to
the applicable Registration Statement until such Holder’s receipt of the copies
of the supplemented or amended Prospectus contemplated by Section 6(c)(xiii)
hereof, or until it is advised in writing (the “Advice”) by the Company that
the use of the Prospectus may be resumed, and has received copies of any
additional or supplemental filings that are incorporated by reference in the
Prospectus. If so directed by the Company, each Holder will deliver to the
Company (at the Company’s expense) all copies, other than permanent file copies
then in such Holder’s possession, of the Prospectus covering such Transfer
Restricted Securities that was current at the time of receipt of such notice.
In the event the Company shall give any such notice, the time period regarding
the effectiveness of such Registration Statement set forth in Section 3 or 4
hereof, as applicable, shall be extended by the number of days during the
period from and including the date of the giving of such notice pursuant to
Section 6(c)(iii)(C) or 6(c)(iii)(D) hereof to and including the date when each
selling Holder covered by such Registration Statement shall have received the
copies of the supplemented or amended Prospectus contemplated by Section
6(c)(xiii) hereof or shall have received the Advice; provided, however, that any extension of
such time periods under this section shall not extend the timing or amount of
the Company’s Additional Interest payment obligations under Section 5 hereof.

          Each
Holder will furnish to the Company such information regarding such Holder and
the distribution of such Transfer Restricted Securities as the Company may from
time to time reasonably request in writing, but only to the extent such
information is required to comply with the Securities Act or any relevant state
securities or Blue Sky law or obligation. Each Holder of Transfer Restricted
Securities as to which any registration is being effected agrees to notify the
Company as promptly as practicable of any inaccuracy or change in information
previously furnished by such Holder to the Company or of the happening of any
event, in either case as a result of which any Prospectus relating to such
registration contains an untrue statement of a material fact regarding such
Holder or the distribution of such Transfer Restricted Securities or omits to
state any material fact regarding such Holder or the distribution of such
Transfer Restricted Securities required to be stated therein or necessary to
make the statements therein, in light of the circumstances in which they were
made, not misleading, and to furnish to the Company promptly any additional
information required to correct and update any previously furnished information
or required such that such Prospectus shall not contain, with respect to such
Holder or the distribution of such Transfer Restricted Securities, an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances in which they were made, not misleading.

          SECTION
7. Registration
Expenses.

          
(a) All expenses incident to the Company’s and the Guarantors’ performance of
or compliance with this Agreement will be borne by the Company and the
Guarantors, jointly and severally, regardless of whether a Registration
Statement becomes effective, including, without limitation: (i) all registration
and filing fees and expenses (including filings made by any Initial Purchaser
or Holder with the FINRA (and, if applicable, the fees and expenses of any
“qualified independent underwriter” and its counsel that may be required by the
rules and regulations of the FINRA)); (ii) all fees and expenses of compliance
with federal securities and (to the extent contemplated
hereunder) state securities or blue sky laws; (iii) all expenses of printing
(including printing certificates for the Exchange Securities to be issued in
the Exchange Offer and printing of Prospectuses), messenger and delivery
services and telephone; (iv) all fees and disbursements of counsel for the
Company, the Guarantors and, subject to Section 7(b) hereof, the Holders of
Transfer Restricted Securities; (v) all application and filing fees in
connection with listing the Exchange Securities on a securities exchange or
automated quotation system pursuant to the requirements thereof; and (vi) all
fees and disbursements of independent certified public accountants of the
Company and the Guarantors (including the expenses of any special audit and
comfort letters required by or incident to such performance).

-15-

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

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

          SECTION
8. Indemnification.

          (a)
Each of the Company and the Guarantors, jointly and severally, agree to indemnify
and hold harmless (i) each Holder and (ii) each Person, if any, who controls
(within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) any Holder (any of the Persons referred to in this clause (ii)
being hereinafter referred to as a “controlling person”) and (iii) the
respective officers, directors, partners, employees, representatives and agents
of any Holder or any controlling person (any Person referred to in clause (i),
(ii) or (iii) may hereinafter be referred to as an “Indemnified Holder”), to
the fullest extent lawful, from and against any and all losses, claims,
damages, liabilities, judgments, actions and expenses (including, without
limitation, and as incurred, reimbursement of all reasonable costs of investigating,
preparing, pursuing, settling, compromising, paying or defending any claim or
action, or any investigation or proceeding by any governmental agency or body,
commenced or threatened, including the reasonable fees and expenses of counsel
to any Indemnified Holder), joint or several, to which each Indemnified Holder
may become subject under the Securities Act, the Exchange Act or other federal
or state statutory law or regulation, or at common law or otherwise directly or
indirectly caused by, related to, based upon, arising out of or in connection
with any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement or Prospectus (or any amendment or
supplement thereto), or any omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances in which they were made (in the case of
the Prospectus), not misleading; provided, however,
that the Company or the Guarantors will not be liable in any such case insofar
as such losses, claims, damages, liabilities or expenses are caused by an
untrue statement of material fact or omission or alleged omission to state a
material fact that is made in reliance upon and in conformity with information
relating to any of the Holders furnished in writing to the Company by any of
the Holders expressly for use therein; provided, further that, with respect to
any untrue statement or omission of material fact made in any Registration
Statement, the indemnity agreement contained in this Section 8(a) shall not
inure to the benefit of any Holder from whom the person asserting any such
losses, claims, damages, liabilities or expenses purchased Securities or
Exchange Securities concerned, or any person who may be a related Indemnified
Holder, if a copy of the Prospectus (as then amended or supplements thereto)
was not sent or given by or on behalf of such Holder to such person, if required
by law so to have been delivered, at or prior to the written confirmation of
the sale of the Securities or the Exchange Securities to such person, and if
the Prospectus (as so amended or supplemented) would have cured the defect
giving rise to such losses, claims, damages, liabilities or expenses. This
indemnity agreement shall be in addition to any liability which the Company or
any of the Guarantors may otherwise have.

-16-

          In
case any action or proceeding (including any governmental or regulatory
investigation or proceeding) shall be brought or asserted against any of the
Indemnified Holders with respect to which indemnity may be sought against the
Company or the Guarantors, such Indemnified Holder (or the Indemnified Holder
controlled by such controlling person) shall promptly notify the Company and
the Guarantors in writing; provided, however, that the failure to
give such notice shall not relieve any of the Company or the Guarantors of its
obligations pursuant to this Agreement, except to the extent that any thereof
has been materially prejudiced by such failure. Such Indemnified Holder shall
have the right to employ its own counsel in any such action and the fees and
expenses of such counsel shall be paid, as incurred, by the Company and the Guarantors.
In case any such action is brought against any Indemnified Holder and such
Indemnified Holder seeks or intends to seek indemnity from the Company or the
Guarantors, the Company or the Guarantors will be entitled to participate in
and, to the extent that they shall elect, to assume the defense thereof with
counsel reasonably satisfactory to such Indemnified Holder; provided, however,
if the defendants in any such action include both such Indemnified Holder and
the Company or the Guarantors and such Indemnified Holder shall have reasonably
concluded (based upon the advice of counsel) that a conflict may arise between
the positions of the Company or the Guarantors and such Indemnified Holder in
conducting the defense of any such action or that there may be legal defenses
available to it and/or other Indemnified Holders which are different from or
additional to those available to the Company or the Guarantors, such Indemnified
Holder shall have the right to select separate counsel to assume such legal
defenses and to otherwise participate in the defense of such action on behalf
of such Indemnified Holder (at the Company’s expense). The Company and the
Guarantors shall not, in connection with any one such action or proceeding or
separate but substantially similar or related actions or proceedings in the
same jurisdiction arising out of the same general allegations or circumstances,
be liable for the reasonable fees and expenses of more than one separate firm
of attorneys (in addition to any local counsel) at any time for such Indemnified
Holders, which firm shall be designated by the Holders. The Company and the
Guarantors shall be liable for any settlement of any such action or proceeding
effected with the Company’s and the Guarantors’ prior written consent, which
consent shall not be withheld unreasonably, and each of the Company and the
Guarantors agrees to indemnify and hold harmless any Indemnified Holder from
and against any loss, claim, damage, liability or expense by reason of any
settlement of any action effected with the written consent of the
Company and the Guarantors. The Company and the Guarantors shall not, without
the prior written consent of each Indemnified Holder, settle or compromise or
consent to the entry of judgment in or otherwise seek to terminate any pending
or threatened action, claim, litigation or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not any
Indemnified Holder is a party thereto), unless such settlement, compromise,
consent or termination includes an unconditional release of each Indemnified
Holder from all liability arising out of such action, claim, litigation or proceeding.

-17-

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

          (c)
If the indemnification provided for in this Section 8 is unavailable to an
indemnified party under Section 8(a) or (b) hereof (other than by reason of
exceptions provided in those Sections) in respect of any losses, claims,
damages, liabilities, judgments, actions or expenses referred to therein, then
each applicable indemnifying party, in lieu of indemnifying such indemnified
party, shall contribute to the amount paid or payable by such indemnified party
as a result of such losses, claims, damages, liabilities or expenses in such
proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantors, on the one hand, and the Holders, on the other
hand, from the Initial Placement (which in the case of the Company and the
Guarantors shall be deemed to be equal to the total gross proceeds to the
Company and the Guarantors from the Initial Placement), the amount of
Additional Interest which did not become payable as a result of the filing of
the Registration Statement resulting in such losses, claims, damages, liabilities,
judgments actions or expenses, or if such allocation is not permitted by applicable
law, the relative fault of the Company and the Guarantors, on the one hand, and
the Holders, on the other hand, in connection with the statements or omissions
which resulted in such losses, claims, damages, liabilities or expenses, as
well as any other relevant equitable considerations. The relative fault of the
Company and the Guarantors, on the one hand, and of the Indemnified Holder, on
the other hand, shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Company or any of the Guarantors, on the one hand, or the
Indemnified Holders, on the other hand, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission. The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities 

-18-

and expenses
referred to above shall be deemed to include, subject to the limitations set
forth in the second paragraph of Section 8(a) hereof, any legal or other fees
or expenses reasonably incurred by such party in connection with investigating
or defending any action or claim.

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

          SECTION
9. Rule
144A. Each of the Company and the Guarantors hereby agrees with each
Holder, for so long as any Transfer Restricted Securities remain outstanding,
to make available to any Holder or beneficial owner of Transfer Restricted
Securities in connection with any sale thereof and any prospective purchaser of
such Transfer Restricted Securities from such Holder or beneficial owner, the
information required by Rule 144A(d)(4) under the Securities Act in order to
permit resales of such Transfer Restricted Securities pursuant to Rule 144A
under the Securities Act.

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

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

-19-

          SECTION
12. Suspension
Period. Notwithstanding any other provision hereof, the Company may
delay the filing of a Registration Statement or suspend the use of any
Registration Statement or any prospectus, without incurring or accruing any
obligation to pay Additional Interest pursuant to Section 5 hereof or being
deemed in violation of any other provision hereof for any period (“Suspension
Period”), not to exceed an aggregate of 120 calendar days in any twelve-month
period, if the Board of Directors of the Company shall have determined in good
faith that, because of valid business reasons (not including avoidance of the
Company’s obligations hereunder), including without limitation proposed or
pending corporate developments, public filings with the SEC, restatements of
financial results and similar events, it is in the best interests of the
Company to delay such filing or suspend such use, and prior to delaying such
filing or suspending such use the Company provides the Holders with written
notice of such suspension, which notice need not specify the nature of the
event giving rise to such suspension. Each Holder shall keep confidential any
communications received by it from the Company regarding the suspension of the
use of the Registration Statement or the prospectus, except as required by applicable
law.

          SECTION
13. Miscellaneous.

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

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

          (c)
Amendments
and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to or departures from the
provisions hereof may not be given unless the Company has (i) in the case of
Section 5 hereof and this Section 13(c), obtained the written consent of
Holders of all outstanding Transfer Restricted Securities and (ii) in the case
of all other provisions hereof, obtained the written consent of Holders of a
majority of the outstanding principal amount of Transfer Restricted Securities
(excluding any Transfer Restricted Securities held by the Company or its
Affiliates). Notwithstanding the foregoing, a waiver or consent to departure
from the provisions hereof that relates exclusively to the rights of Holders
whose securities are being tendered pursuant to the Exchange Offer and that
does not affect directly or indirectly the rights of other Holders whose securities
are not being tendered pursuant to such Exchange Offer may be given by the
Holders of a majority of the outstanding principal amount of Transfer
Restricted Securities being tendered or registered; provided, however, that, with respect to any matter that
directly or indirectly affects the rights of any Initial Purchaser hereunder,
the Company shall obtain the written consent of each such Initial 

-20-

Purchaser with
respect to which such amendment, qualification, supplement, waiver, consent or
departure is to be effective.

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

	
 

	
 

	
 

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

	
 

	
 

	
 

	
          (ii)
if to the Company:

	
 

	
 

	
 

	
CIT Group
Inc.

	
 

	
1 CIT Drive

	
 

	
Livingston,
NJ 07039

	
 

	
Telecopier
No.: (973) 740-5750

	
 

	
Attention:
Glenn Votek, Executive Vice President & Treasurer

	
 

	
 

	
 

	
with a copy
to:

	
 

	
 

	
 

	
CIT Group
Inc.

	
 

	
1 CIT Drive

	
 

	
Livingston,
NJ 07039

	
 

	
Facsimile:
(973) 740-5264

	
 

	
Attention:
General Counsel

	
  

 
	
 

	
and a copy
to:

	
 

	
 

	
 

	
Sullivan
& Cromwell LLP

	
 

	
125 Broad
Street

	
 

	
New York, NY
10004

	
 

	
Telecopier
No.: (212) 558-3588

	
 

	
Attention:
John E. Estes, Esq.

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

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

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

-21-

          (f)
Counterparts;
Delivery. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. Delivery of an executed
counterpart of a signature page to this Agreement by telecopier, facsimile or
other electronic transmission (i.e., a “pdf” or “tif”) shall be effective as
delivery of a manually executed counterpart thereof.

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

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

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

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

-22-

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

	
 

	
 

	
 

	
 

	
 

	
CIT GROUP INC.

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
 

	
C.I.T.
LEASING CORPORATION

CAPITA COLOMBIA HOLDINGS CORP.

CAPITA CORPORATION

CAPITA INTERNATIONAL L.L.C.

CIT CAPITAL USA INC.

CIT CHINA 12, INC.

CIT CHINA 13, INC.

CIT COMMUNICATIONS FINANCE CORPORATION

CIT CREDIT FINANCE CORP. 

CIT CREDIT GROUP USA INC.

CIT FINANCIAL LTD. OF PUERTO RICO

CIT FINANCIAL USA, INC.

CIT GROUP (NJ) LLC

CIT GROUP SF HOLDING CO., INC.

CIT HEALTHCARE LLC

CIT LENDING SERVICES CORPORATION

CIT LENDING SERVICES CORPORATION
(ILLINOIS)

CIT LOAN CORPORATION (F/K/A THE CIT
GROUP/CONSUMER
     FINANCE, INC.)

CIT MIDDLE MARKET FUNDING COMPANY,
LLC

CIT MIDDLE MARKET HOLDINGS, LLC

CIT TECHNOLOGIES CORPORATION

CIT TECHNOLOGY FINANCING SERVICES, INC.

CMS FUNDING COMPANY LLC

NAMEKEEPERS LLC

STUDENT LOAN XPRESS, INC.

THE CIT GROUP/BC SECURITIES INVESTMENT, INC.

THE CIT GROUP/BUSINESS CREDIT, INC.

-23-

	
 

	
 

	
 

	
 

	
 

	
THE CIT GROUP/CAPITAL FINANCE, INC.

THE CIT GROUP/CMS SECURITIES INVESTMENT, INC.

THE CIT GROUP/COMMERCIAL SERVICES, INC.

THE CIT GROUP/COMMERCIAL SERVICES, INC.
(VA.)

THE CIT GROUP/CONSUMER FINANCE, INC. (NY)

THE CIT GROUP/CORPORATE AVIATION, INC.

THE CIT GROUP/EQUIPMENT FINANCING, INC.

THE CIT GROUP/EQUITY INVESTMENTS, INC.

THE CIT GROUP/FACTORING ONE, INC.

THE CIT GROUP/FM SECURITIES INVESTMENT, INC.

THE CIT GROUP/LSC SECURITIES INVESTMENT, INC. 

THE CIT GROUP/VENTURE CAPITAL, INC.

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
Name: 

	
 

	
 

	
Title: 

-24-

	
 

	
 

	
 

	
 

	
 

	
FRANCHISE
PORTFOLIO 1, INC.

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	

	
 

	
 

	
Name:
  

	
 

	
 

	
Title: 

-25-

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

J.P. MORGAN
SECURITIES LLC

   As Representative of the Initial Purchasers

J.P. MORGAN SECURITIES LLC

	
 

	
 

	
 

	
By:  

	
 

	
 

	
 

	

	
 

	
 

	
Executive Director

-26-xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

EXHIBIT 4.1

Specimen Stock Certificate

			
	SPECIMEN

	SPECIMEN

	SPECIMEN

	Number 

1234567

	STATEWIDE LIFE & HEALTH, INC.

	Shares

***99,999***

	COMMON STOCK

	Par Value $.001

INCORPORATED UNDER THE LAWS OF THE STATE OF

NEVADA

	COMMON STOCK

CUSIP 85765U109

SEE REVERSE FOR CERTAIN DEFINITIONS

	***Shareholder Name 1XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXEND***

***Shareholder Name 2XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXEND***

THIS CERTIFIES THAT     ***Shareholder Name 3XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXEND***

***Shareholder Name 4XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXEND***

Reg descript if applicable

	is the Owner of   *** Ninety-Nine Thousand Nine Hundred Ninety-Nine ***

	 
	FULLY PAID AND NON-ASSESSABLE SHARES OF COMMON STOCK OF

	 

	 
	STATEWIDE LIFE & HEALTH, INC

	 

	Transferable on the books of the Corporation by the holder hereof, in person or by duly authorized attorney, upon surrender of this Certificate properly 

endorsed. This Certificate is not valid until countersigned by the Transfer Agent and registered by the Registrar.

	Dated:  October 17, 2011

COUNTERSIGNED AND REGISTERED:

EMPIRE STOCK TRANSFER, INC.

Transfer Agent and Registrar

By:  ___________________________________

AUTHORIZED SIGNATURE

SPECIMEN

	CORPORATE SEAL

	

_____________        _______________

Secretary                       President

SPECIMEN

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