Document:

First Supplemental Indenture, dated as of January 21, 2005

 Exhibit 4.2 
  

FIRST SUPPLEMENTAL INDENTURE 
  
 among 
  
 CSN ISLANDS IX CORP., 
 as Issuer, 
  
 COMPANHIA SIDERÚRGICA NACIONAL, 
 as Guarantor, 
  
 JPMORGAN CHASE BANK, 
 as Trustee and New York Paying Agent 
  
 J.P. MORGAN TRUST BANK LTD., 
 as Principal Paying Agent and 
  
 J.P. MORGAN BANK LUXEMBOURG S.A. 
 as Luxembourg
Paying Agent 
  
 Additional U.S. $200,000,000 10.00% Guaranteed
Notes due January 15, 2015 
  
 Dated as of January 21, 2005

  

 1 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page

	 1.
	  	Definitions	  	1
				
	 	  	1.1.	  	Provisions of the Original Indenture	  	1
				
	 	  	1.2.	  	Definitions	  	1
			
	 2.
	  	General Terms and Conditions of the Notes	  	2
				
	 	  	2.1.	  	Designation and Principal Amount	  	2
				
	 	  	2.2.	  	Forms Generally	  	2
				
	 	  	2.3.	  	Transfers and Exchanges	  	3
				
	 	  	2.4.	  	Registration Rights	  	3
			
	 3.
	  	Miscellaneous Provisions	  	3
				
	 	  	3.1.	  	Separability of Invalid Provisions	  	3
				
	 	  	3.2.	  	Execution in Counterparts	  	4

  

 i 

 First Supplemental Indenture, dated as of January 21, 2005, (this “First Supplemental Indenture”) among
CSN Islands IX Corp. (the “Issuer”), a company organized and existing under the laws of the Cayman Islands (“Cayman Islands”); Companhia Siderúrgica Nacional - CSN, a sociedade anônima organized
and existing under the laws of the Federative Republic of Brazil (the “Guarantor”); JPMorgan Chase Bank, a New York banking corporation, as trustee (the “Trustee”) and paying agent in New York (the “New York
Paying Agent”); J.P. Morgan Trust Bank Ltd., as principal paying agent (the “Principal Paying Agent”); and J.P. Morgan Bank Luxembourg S.A., as paying agent in Luxembourg (the “Luxembourg Paying Agent”) to
the Indenture, dated as of September 24, 2004, among the Issuer, the Guarantor, the Trustee and New York Paying Agent, the Principal Paying Agent and the Luxembourg Paying Agent (the “Original Indenture”), 
  
 WITNESSETH : 
  
 Whereas, the Original Indenture, pursuant to Section 2.3, provides for the issuance
from time to time by the Company of additional notes, carrying the Guaranty of the Guarantor, on the terms and conditions identical to those of the Notes, which additional notes shall increase the aggregate principal amount of, and shall be
consolidated and form a single series with, the Notes; 
  
 Whereas, the
Company and the Guarantor desire by this First Supplemental Indenture to issue Securities under the Original Indenture, to be consolidated and form a single series with the Notes, limited in aggregate principal amount as specified in this First
Supplemental Indenture, and the terms and provisions of which are to be as specified in this First Supplemental Indenture; 
  
 Whereas, all things necessary to make this First Supplemental Indenture a valid and binding legal obligation of the Company and the Guarantor according to its
terms have been done. 
  
 Now, therefore, for and in consideration
of the premises and the purchase and acceptance of the Notes by the Holders thereof and for the purpose of setting forth, as provided in the Original Indenture, the form of the Notes and the terms, provisions and conditions thereof, the Company and
the Guarantor covenant and agree with the Trustee as follows: 
  

	1.	Definitions 

  

	 	1.1.	Provisions of the Original Indenture 

  
 Except insofar as herein otherwise expressly provided, all the definitions, provisions, terms and conditions of the Original Indenture shall remain in
full force and effect. The Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this First Supplemental Indenture shall be read, taken and considered as one and the same instrument for all purposes.

  

	 	1.2.	Definitions 

  
 For all purposes of this First Supplemental Indenture and the Notes, except as otherwise expressly provided or unless the subject matter or context
otherwise requires: 
  

	 	1.2.1  	any reference to an “Article” or a “Section” or a “Clause” refers to an Article or Section or Clause, as the case may be, of this First
Supplemental Indenture; 

  

 1 

	 	1.2.2  	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this First Supplemental Indenture as a whole and not to
any particular Article, Section, Clause or other subdivision; 

  

	 	1.2.3  	all terms used in this First Supplemental Indenture that are defined in the Original Indenture have the meanings assigned to them in the Original Indenture, except as
otherwise provided in this First Supplemental Indenture; 

  

	 	1.2.4  	the term “Indenture” shall mean the Original Indenture as amended and supplemented by this First Supplemental Indenture; 

  

	 	1.2.5  	the term “Securities” as defined in the Original Indenture and as used in any definition therein, shall be deemed to include or refer to, as applicable, the Notes
and the Guaranty; and 

  

	 	1.2.6  	the following terms have the meanings given to them in this Clause 1.2.6. 

  
 “Additional Distribution Compliance Period” means the period of 40 consecutive days beginning on and
including the later of (i) the day on which the Additional Notes are first offered to persons other than distributors (as defined in Regulation S) in reliance on Regulation S notice of such day to be given by the Company to the Trustee and (ii) the
day on which the closing of the offering of the Additional Notes pursuant to the Additional Purchase Agreement occurs (the “Closing Date”). 
  
 “Additional Notes” means the Notes authorized by this First Supplemental Indenture to the Original Indenture. 
  
 “Additional Purchase Agreement” means the Purchase
Agreement, dated January 18, 2005, among the Company, the Guarantor and the Initial Purchaser. 
  
 “Additional Registration Rights Agreement” has the meaning specified in Section 2.4 hereof. 
  

	2.	General Terms and Conditions of the Notes 

  

	 	2.1.	Designation and Principal Amount 

  
 The aggregate principal amount of the 10.00% Guaranteed Notes due January 15, 2015, is hereby increased to $400,000,000. For purposes of Section 2.3(b) of
the Original Indenture, this First Supplemental Indenture supplements the Original Indenture. All the Additional Notes issued under the Original Indenture as supplemented by this First Supplemental Indenture shall form a single series with the Notes
for all purposes under the Original Indenture, including without limitation for purposes of waivers, amendments, redemptions, offers to purchase and acceleration. 
  

	 	2.2.	Forms Generally 

  
 Upon their original issuance, Notes offered and sold pursuant to the Additional Purchase Agreement to Qualified Institutional Buyers in accordance with
Rule 144A shall be issued in the form of one or more Restricted Global Notes. Such Restricted Global Notes shall be registered in the name of the Depositary, or its nominee, deposited with the 

  

 2 

 
Trustee, at its Corporate Trust Office, as custodian for the Depositary, duly executed by the Company, and by the Guarantor, in the case of the Guaranty
endorsed thereon, and authenticated by the Trustee. 
  
 Upon
their original issuance, Notes offered and sold pursuant to the Additional Purchase Agreement in reliance on Regulation S shall initially be issued in the form of one or more Regulation S Global Notes. Such Regulation S Global Notes shall be
registered in the name of the Depositary, or its nominee, deposited with the Trustee, at its Corporate Trustee Office, as custodian for the Depositary, duly executed by the Company, and by the Guarantor, in the case of the Guaranty endorsed thereon,
and authenticated by the Trustee. After such time as the Additional Distribution Compliance Period shall have terminated, each such Regulation S Global Note shall be an “Unrestricted Global Note” for all purposes under the First
Supplemental Indenture. 
  

	 	2.3.	Registration Rights 

  
 The Holders of the Notes are entitled to the benefits of a Registration Rights Agreement dated the date hereof among the Company, the Guarantor and the
Initial Purchaser (the “Additional Registration Rights Agreement”). 
  

	 	2.4.	Guarantee 

  
 The Additional Notes will be guaranteed by the Guarantor in accordance with the terms and conditions set forth in Section 5 of the Indenture. 

 
 The Guarantor hereby irrevocably and unconditionally guarantees the full
and punctual payment of the Additional Notes, and agrees to comply with all terms and conditions set forth in the Indenture in relation to the Additional Notes. 
  

	 	2.5.	Paying Agents 

  
 The Principal Paying Agent, the New York Paying Agent and the Luxembourg Paying Agent will act as paying agents (together the “Paying Agents”)
in connection with the Additional Notes in accordance with the terms and conditions set forth in the Indenture. 
  
 Each of the Paying Agents hereby accept its appointment, and agrees to comply with all terms and conditions set forth in the Indenture with respect to the
Additional Notes, as well as to take all such actions as may be incidental thereto. 
  

	3.	Miscellaneous Provisions 

  

	 	3.1.	Separability of Invalid Provisions 

  
 In case any one or more of the provisions contained in this First Supplemental Indenture should be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provisions contained in this First Supplemental Indenture, and to the extent and only to the extent that any such provision is invalid, illegal or unenforceable, this First
Supplemental Indenture shall be construed as if such provision had never been contained herein. 
  

 3 

	 	3.2.	Execution in Counterparts 

  
 This First Supplemental Indenture may be simultaneously executed and delivered in any number of counterparts, each of which when so executed and delivered
shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  

 4 

 In witness whereof, the parties hereto have caused this First Supplemental Indenture to be duly executed on their
respective behalves, all as of the day and year first written above. 
  

					
	 CSN ISLANDS IX CORP.,
 the Company

		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	Otávio de Garcia Lazcano
	 	 	 Title
	 	Director
	
	 COMPANHIA SIDERÚRGICA NACIONAL,
 as Guarantor

		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	Otávio de Garcia Lazcano
	 	 	 Title
	 	Officer
		
	 By:
	 	/s/    SERGIO
TIMONER        
	 	 	 Name:
	 	Sergio Timoner
	 	 	 Title
	 	Attorney-in-Fact
	
	 JPMORGAN CHASE BANK, 
 as
Trustee and as Paying Agent

		
	 By:
	 	/s/    WILLIAM
POTES        
	 	 	 Name:
	 	William Potes
	 	 	 Title
	 	Assistant Treasurer
	
	 J.P. MORGAN TRUST BANK LTD.,
 as Principal Paying Agent

		
	 By:
	 	/s/    WILLIAM
POTES        
	 	 	 Name:
	 	William Potes
	 	 	 Title
	 	Assistant Treasurer

  

 5 

					
	 J.P. MORGAN BANK LUXEMBOURG, S.A.,
 as Luxembourg Paying Agent

		
	 By:
	 	/s/    WILLIAM
POTES        
	 	 	 Name:
	 	William Potes
	 	 	 Title
	 	Assistant Treasurer

  

 6Registration Rights Agreement, dated as of September 24, 2004

 Exhibit 4.4 
  

REGISTRATION RIGHTS AGREEMENT 
  
 Dated September 24, 2004 
  
 among 
  
 CSN ISLANDS IX CORP. 
  
 as Issuer, 
  
 COMPANHIA
SIDERÚRGICA NACIONAL 
  
 as Guarantor, 
  
 and 
  
 CITIGROUP GLOBAL MARKETS INC. 
  
 as Initial Purchaser 
  

 1 

 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) dated as of September 24, 2004, among (i) CSN Islands IX
Corp. (the “Company”), a company organized under the laws of the Cayman Islands (“Cayman Islands”) and a wholly-owned subsidiary of the Guarantor (as defined below), (ii) Companhia Siderúrgica Nacional – CSN (the
“Guarantor”), a sociedade anônima organized and existing under the laws of the Federative Republic of Brazil (“Brazil”), and (iii) Citigroup Global Markets Inc. (“Initial Purchaser”) as initial purchaser of
U.S.$200,000,000 of Company’s 10.000% Notes due January 2015 (the “Securities”). 
  
 WITNESSETH 
  
 WHEREAS, the
Company, the Guarantor and the Initial Purchaser executed on September 17, 2004 a Purchase Agreement (the “Purchase Agreement”) relating to the initial placement (the “Initial Placement”) of the Securities. 
  
 WHEREAS, the Company, the Guarantor, JP Morgan Chase Bank, as Trustee and
paying agent in New York, J.P. Morgan Trust Bank Ltd., as principal paying agent, and J.P. Morgan Bank Luxembourg S.A., as paying agent in Luxembourg, are today entering into an Indenture dated as of September 24, 2004 (the “Indenture”),
pursuant to which the Company is today issuing U.S.$200,000,000 aggregate principal amount of its Securities, unconditionally guaranteed by the Guarantor; 
  
 WHEREAS, in order to provide additional liquidity to the holders of the Securities (the “Holders”), the Company and the Guarantor are
willing to enter into this Registration Rights Agreement providing for the registration of the Securities under the Securities Act of 1933, as amended; 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Definitions. Capitalized terms used herein without definition shall have their respective meanings set forth in the Purchase Agreement. As used
in this Agreement, the following capitalized defined terms shall have the following meanings: 
  
 “Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 “Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms “controlling” and
“controlled” shall have meanings correlative thereto. 
  
 “Broker-Dealer” shall mean any broker or dealer registered as such under the Exchange Act. 
  

 2 

 “Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day
on which banking institutions or trust companies are authorized or obligated by law to close in New York City or Sao Paulo. 
  
 “Closing Date” shall mean the date of the first issuance of the Securities. 
  
 “Commission” shall mean the Securities and Exchange Commission. 
  
 “Deferral Period” shall have the meaning indicated in Section
4(k)(ii) hereof. 
  
 “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 “Exchange Offer Registration Period” shall mean the 180-day following the consummation of the Registered Exchange Offer, exclusive of any period
during which any stop order shall be in effect suspending the effectiveness of the Exchange Offer Registration Statement. 
  
 “Exchange Offer Registration Statement” shall mean a registration statement of the Company and the Guarantor on an appropriate form under the
Act with respect to the Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments thereto, in each case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein. 
  
 “Exchanging
Dealer” shall mean any Holder (which may include any Initial Purchaser) that is a Broker-Dealer and elects to exchange for New Securities any Securities that it acquired for its own account as a result of market-making activities or other
trading activities (but not directly from the Company, the Guarantor or any of their Affiliates) for New Securities. 
  
 “Final Memorandum” shall mean the offering memorandum, dated September 17, 2004, relating to the Securities, including any and all exhibits
thereto and any information incorporated by reference therein as of such date. 
  
 “Guaranty” shall mean the guaranty of the Securities and the New Securities. 
  
 “Holder” shall have the meaning set forth in the preamble hereto. 
  
 “Indenture” shall mean the document identified in the preamble hereto, as the same may be amended from time to
time in accordance with the terms thereof. 
  
 “Initial Placement” shall have the meaning set forth in the preamble hereto. 
  
 “Initial Purchaser” shall have the meaning set forth in the preamble hereto. 
  
 “Losses” shall have the meaning set forth in Section 6(d) hereof. 
  

 3 

 “Majority Holders” shall mean, on any date, Holders of a majority of the aggregate principal
amount of Securities registered under a Registration Statement. 
  
 “Managing Underwriters” shall mean the investment banker or investment bankers and manager or managers that administer an underwritten offering, if any, under a Registration Statement. 
  
 “NASD Rules” shall mean the Conduct Rules and the By-Laws of the
National Association of Securities Dealers, Inc. 
  
 “New
Securities” shall mean debt securities of the Company, unconditionally guaranteed on a senior unsecured basis by the Guarantor, identical in all material respects to the Securities (except that the transfer restrictions shall be modified or
eliminated, as appropriate) to be issued under the Indenture. 
  
 “Prospectus” shall mean the prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration
statement in reliance upon Rule 430A under the Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Securities or the New Securities covered by such Registration Statement,
and all amendments and supplements thereto, including any and all exhibits thereto and any information incorporated by reference therein. 
  
 “Purchase Agreement” shall have the meaning set forth in the preamble hereto. 
  
 “Registered Exchange Offer” shall mean the proposed offer of the Company and the Guarantor to issue and deliver to
the Holders of the Securities that are not prohibited by any law or policy of the Commission from participating in such offer, in exchange for the Securities, a like aggregate principal amount of the New Securities. 
  
 “Registrable Securities” shall mean (i) outstanding Securities
other than those that (A) have been registered under a Registration Statement and exchanged or disposed of in accordance therewith or (B) are eligible to be distributed to the public pursuant to Rule 144 (k) under the Act or any successor rule or
regulation thereto that may be adopted by the Commission and (ii) any New Securities that have been acquired by a Broker-Dealer in the Registered Exchange Offer in exchange for Securities the resale of which by such Broker-Dealer requires compliance
with the prospectus delivery requirements of the Act. 
  
 “Registration Default Damages” shall have the meaning set forth in Section 8 hereof. 
  
 “Registration Statement” shall mean any Exchange Offer Registration Statement or Shelf Registration Statement that covers any of the Securities
or the New Securities and the related Guaranty pursuant to the provisions of this Agreement, any amendments and supplements to such registration statement, including post-effective amendments (in each case including the Prospectus contained
therein), all exhibits thereto and all material incorporated by reference therein. 
  

 4 

 “Securities” shall have the meaning set forth in the preamble hereto. 
  
 “Shelf Registration” shall mean a registration effected pursuant to
Section 3 hereof. 
  
 “Shelf Registration Period” has
the meaning set forth in Section 3(b) hereof. 
  
 “Shelf
Registration Statement” shall mean a “shelf” registration statement of the Company and the Guarantor pursuant to the provisions of Section 3 hereof which covers some or all of the Securities or the New Securities and the related
Guaranty, as applicable, on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted by the Commission, amendments and supplements to such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 
  
 “Trustee” shall mean the trustee with respect to the Securities under the Indenture. 
  
 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939,
as amended, and the rules and regulations of the Commission promulgated thereunder. 
  
 “Underwriter” shall mean any underwriter of Securities in connection with an offering thereof under a Shelf Registration Statement. 
  
 2. Registered Exchange Offer. (a) Unless not permitted by applicable law or applicable interpretations thereof by the
Commission’s staff, the Company and the Guarantor shall prepare and file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer. The Company and the Guarantor shall use their reasonable best
efforts (i) to cause the Exchange Offer Registration Statement to become effective under the Act and (ii) not later than October 31, 2004, to complete the Registered Exchange Offer. The Company and the Guarantor may in their discretion accept
Registrable Securities after the date that the Company consummates the Registered Exchange Offer with respect to Registrable Securities tendered as of the date of such consummation and, for purposes of this Agreement, the Registered Exchange Offer
shall be deemed to have been timely consummated. 
  
 (b) Upon the
effectiveness of the Exchange Offer Registration Statement, the Company and the Guarantor shall promptly commence the Registered Exchange Offer, it being the objective of such Registered Exchange Offer to enable each Holder electing to exchange
Securities for New Securities (assuming that such Holder is not an Affiliate of the Company or the Guarantor, acquires the New Securities in the ordinary course of such Holder’s business, has no arrangements with any person to participate in
the distribution of the New Securities and is not prohibited by any law or policy of the Commission from participating in the Registered Exchange Offer) to trade such New Securities from and after their receipt without any limitations or
restrictions under the Act. 
  

 5 

 (c) In connection with the Registered Exchange Offer, the Company and the Guarantor shall: 
  
 (i) mail to each Holder a copy of the Prospectus forming
part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 
  
 (ii) keep the Registered Exchange Offer open for not less than 20 Business Days and not more than 40 Business Days after the date notice
thereof is mailed to the Holders (or, in each case, longer if required by applicable law); 
  
 (iii) use their reasonable best efforts to keep the Exchange Offer Registration Statement continuously effective under the Act, and
supplemented and amended as required under the Act, to ensure that it is available for sales of New Securities by Exchanging Dealers during the Exchange Offer Registration Period; 
  
 (iv) utilize the services of a depositary for the Registered Exchange Offer with an address in the Borough
of Manhattan in New York City, which may be the Trustee, or an Affiliate of it; 
  
 (v) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time, on the last Business Day on
which the Registered Exchange Offer is open; and 
  
 (vi) prior to effectiveness of the Exchange Offer Registration Statement, if then required under applicable interpretations or request by the Commission staff, provide a supplemental letter to the Commission (A) stating that the Company and
the Guarantor are conducting the Registered Exchange Offer in reliance on the position of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988), Morgan Stanley and Co., Inc. (pub. avail. June 5, 1991); and (B)
including a representation that the Company and the Guarantor have not entered into any arrangement or understanding with any person to distribute the New Securities to be received in the Registered Exchange Offer and that, to the best of the
Company and the Guarantor’s information and belief, each Holder participating in the Registered Exchange Offer is acquiring the New Securities in the ordinary course of business and has no arrangement or understanding with any person to
participate in the distribution of the New Securities; and 
  
 (vii) comply in all respects with all applicable laws. 
  
 (d) As soon as practicable after the close of the Registered Exchange Offer, the Company and the Guarantor shall: 
  
 (i) accept for exchange all Securities tendered and not validly withdrawn pursuant to the Registered Exchange Offer; 
  
 (ii) deliver to the Trustee for cancellation in accordance
with Section 4(s) all Securities so accepted for exchange; and 
  

 6 

 (iii) instruct the Trustee promptly to authenticate and deliver to each Holder of
Securities a principal amount of New Securities equal to the principal amount of the Securities of such Holder so accepted for exchange. 
  
 (e) Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Registered Exchange Offer to participate in a
distribution of the New Securities (x) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan Stanley
and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993 and similar no-action letters; and (y) must comply with the registration and prospectus delivery requirements
of the Act in connection with any secondary resale transaction, which must 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 under the
Act if the resales are of New Securities obtained by such Holder in exchange for Securities acquired by such Holder directly from the Company or the Guarantor or one of their Affiliates. Accordingly, each Holder participating in the Registered
Exchange Offer shall be required to represent to the Company and the Guarantor that, at the time of the consummation of the Registered Exchange Offer: 
  
 (i) any New Securities received by such Holder will be acquired in the ordinary course of business; 
  
 (ii) such Holder will have no arrangement or understanding
with any person to participate in the distribution of the Securities or the New Securities within the meaning of the Act; and 
  
 (iii) such Holder is not an Affiliate of the Company or the Guarantor. 
  
 (f) If any Initial Purchaser determines that it is not eligible to participate in the Registered Exchange Offer with respect
to the exchange of Securities constituting any portion of an unsold allotment, at the request of such Initial Purchaser, the Company and the Guarantor shall issue and deliver to such Initial Purchaser or the person purchasing New Securities
registered under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial Purchaser, in exchange for such Securities, a like principal amount of New Securities. The Company and the Guarantor shall use their reasonable
best efforts to cause the CUSIP Service Bureau to issue the same CUSIP number for such New Securities as for New Securities issued pursuant to the Registered Exchange Offer. 
  
 3. Shelf Registration. (a) If (i) due to any change in law or applicable interpretations thereof by the
Commission’s staff, the Company and the Guarantor determine upon advice of their outside counsel that they are not permitted to effect the Registered Exchange Offer as contemplated by Section 2 hereof; or (ii) for any other reason the
Registered Exchange Offer is not consummated on or before October 31, 2005; (iii) any Initial Purchaser so requests with respect to Registrable Securities that, upon advice of counsel, are not eligible under applicable law to be exchanged for New
Securities in the Registered Exchange Offer and that are held by it following consummation of the Registered Exchange Offer; (iv) any Holder (other 

  

 7 

 
than an Initial Purchaser) who, upon advice of counsel, is not eligible under applicable law to participate in the Registered Exchange Offer; or (v) in the
case of any Initial Purchaser that participates in the Registered Exchange Offer or acquires New Securities pursuant to Section 2(f) hereof, such Initial Purchaser does not receive freely tradeable New Securities in exchange for Securities
constituting any portion of an unsold allotment (it being understood that (x) the requirement that an Initial Purchaser deliver a Prospectus containing the information required by Item 507 or 508 of Regulation S-K under the Act in connection with
sales of New Securities acquired in exchange for such Securities shall result in such New Securities being not “freely tradeable”; and (y) the requirement that an Exchanging Dealer deliver a Prospectus in connection with sales of New
Securities acquired in the Registered Exchange Offer in exchange for Securities acquired as a result of market-making activities or other trading activities shall not result in such New Securities being not “freely tradeable”), the Company
and the Guarantor shall effect a Shelf Registration Statement in accordance with subsection (b) below. 
  
 (b) (i) The Company and the Guarantor shall (after so required or requested pursuant to this Section 3), file with the Commission and shall use their
reasonable best efforts to cause to be declared effective under the Act within 90 days after so required or requested, a Shelf Registration Statement relating to the offer and sale of the Securities or the New Securities, as applicable, by the
Holders thereof from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement; provided, however, that no Holder (other than an Initial Purchaser) shall be entitled to
have the 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; and provided further, that with respect to New
Securities received by an Initial Purchaser in exchange for Securities constituting any portion of an unsold allotment, the Company and the Guarantor 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 their 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. 
  
 (ii) The Company and the Guarantor shall use their reasonable best efforts to keep the Shelf Registration
Statement continuously effective, supplemented and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by Holders for a period (the “Shelf Registration Period”) from the date the Shelf
Registration Statement is declared effective by the Commission until (A) the second anniversary of the Issue Date or (B) for such shorter period that will terminate on the date upon which all the Registrable Securities covered by the Shelf
Registration Statement have been sold pursuant to the Shelf Registration Statement or otherwise cease to be Registrable Securities; provided, however, that the Company and the Guarantor shall have the right to suspend the disposition of Registrable
Securities pursuant thereto in accordance with Section 4(j)(ii). The Company and the Guarantor shall be deemed not to have used their reasonable best efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if
they 

  

 8 

 
voluntarily take any action that would result in Holders of Securities covered thereby not being able to offer and sell such Securities at any time during
the Shelf Registration Period, unless such action is (x) required by applicable law or otherwise undertaken by the Company or the Guarantor in good faith and for valid business reasons (not including avoidance of the Company or the Guarantor’s
obligations hereunder), including the acquisition or divestiture of assets, or (y) permitted pursuant to Section 4(j)(ii) hereof. 
  
 (iii) The Company and the Guarantor shall cause the Shelf Registration Statement and the related Prospectus and any amendment or
supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (A) to comply in all material respects with the applicable requirements of the Act; and (B) not to contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading.

  
 4. Additional Registration Procedures. In connection
with any Shelf Registration Statement and, to the extent applicable, any Exchange Offer Registration Statement, the following provisions shall apply. 
  
 (a) The Company and the Guarantor shall: 
  
 (i) furnish to the Initial Purchaser and, in the case of a Shelf Registration Statement, furnish to counsel for the Holders, not less than
five Business Days prior to the filing thereof with the Commission, a copy of any Exchange Offer Registration Statement and any Shelf Registration Statement, and each amendment thereof and each amendment or supplement, if any, to the Prospectus
included therein (including all documents incorporated by reference therein after the initial filing) and shall use their reasonable best efforts to reflect in each such document, when so filed with the Commission, such comments as the Initial
Purchaser reasonably propose; 
  
 (ii) include
the information set forth in Annex A hereto on the facing page of the Exchange Offer Registration Statement, in Annex B hereto in the forepart of the Exchange Offer Registration Statement in a section setting forth details of the Exchange Offer, in
Annex C hereto in the underwriting or plan of distribution section of the Prospectus contained in the Exchange Offer Registration Statement, and in Annex D hereto in the letter of transmittal delivered pursuant to the Registered Exchange Offer;

  
 (iii) if requested by an Initial Purchaser,
include the information required by Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus contained in the Exchange Offer Registration Statement; and 
  

 9 

 (iv) in the case of a Shelf Registration Statement and subject to Section 4(n), include
the names of the Holders that propose to sell Securities pursuant to the Shelf Registration Statement as selling security holders. 
  
 (b) The Company and the Guarantor shall advise the Initial Purchaser, the Holders of Securities covered by any Shelf Registration Statement and any
Exchanging Dealer under any Exchange Offer Registration Statement that has provided in writing to the Company a telephone or facsimile number and address for notices, and, if requested by the Initial Purchaser or any such Holder or Exchanging
Dealer, shall confirm such advice in writing (which notice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to suspend the use of the Prospectus until the Company and the Guarantor shall have remedied the basis for such
suspension): 
  
 (i) when a Registration
Statement and any amendment thereto has been filed with the Commission and when the Registration Statement or any post-effective amendment thereto has become effective; 
  
 (ii) of any request by the Commission for any amendment or supplement to the Registration Statement or the
Prospectus or for additional information; 
  
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the institution or threatening of any proceeding for that purpose; 
  
 (iv) of the receipt by the Company or the Guarantor of any
notification with respect to the suspension of the qualification of the securities included therein for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose; and 
  
 (v) of the happening of any event that requires any change
in the Registration Statement or the Prospectus so that, as of such date, they (A) do not contain any untrue statement of a material fact and (B) do not omit to state a material fact required to be stated therein or necessary to make the statements
therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
  
 (c) The Company and the Guarantor shall use their reasonable best efforts to prevent the issuance of any order suspending the effectiveness of any
Registration Statement or the qualification of the securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. 
  
 (d) The Company and the Guarantor shall furnish to each Holder of Securities covered by any Shelf Registration Statement,
without charge, at least one copy of such Shelf Registration Statement and any post-effective amendment thereto, and, if the Holder so requests 

  

 10 

 
in writing, all material incorporated therein by reference and all exhibits thereto (including exhibits incorporated by reference therein). 
  
 (e) The Company and the Guarantor shall, during the Shelf Registration
Period, deliver to each Holder of Securities covered by any Shelf Registration Statement, without charge, as many copies of the Prospectus (including the Preliminary Prospectus) included in such Shelf Registration Statement and any amendment or
supplement thereto as such Holder may reasonably request. Subject to any notice suspending the use of the Prospectus, the Company and the Guarantor consent to the use of the Prospectus or any amendment or supplement thereto by each of the selling
Holders of Securities in connection with the offering and sale of the Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Shelf Registration Statement. 
  
 (f) The Company and the Guarantor shall furnish to each Exchanging Dealer
which so requests, without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, and, if the Exchanging Dealer so requests in writing, all material incorporated by reference therein and all
exhibits thereto (including exhibits incorporated by reference therein). 
  
 (g) The Company and the Guarantor shall promptly deliver to each Initial Purchaser, each Exchanging Dealer and each other person required to deliver a Prospectus during the Exchange Offer Registration Period, without
charge, as many copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement thereto as any such person may reasonably request. Subject to any notice suspending the use of the Prospectus, the
Company and the Guarantor consent to the use of the Prospectus or any amendment or supplement thereto by any Initial Purchaser, any Exchanging Dealer and any such other person that may be required to deliver a Prospectus following the Registered
Exchange Offer in connection with the offering and sale of the New Securities covered by the Prospectus, or any amendment or supplement thereto, included in the Exchange Offer Registration Statement. 
  
 (h) Prior to the Registered Exchange Offer or any other offering of
Securities pursuant to any Registration Statement, the Company and the Guarantor shall arrange, if necessary, for the qualification of the Securities or the New Securities for sale under the laws of such jurisdictions as any Holder shall reasonably
request and shall maintain such qualification in effect so long as required; provided that in no event shall the Company and the Guarantor be obligated to qualify to do business in any jurisdiction where they are not then so qualified or to take any
action that would subject them to service of process in suits, other than those arising out of the Initial Placement, the Registered Exchange Offer or any offering pursuant to a Shelf Registration Statement, in any such jurisdiction where they are
not then so subject. 
  
 (i) The Company and the Guarantor shall
cooperate with the Holders of Securities to facilitate the timely preparation and delivery of certificates representing New Securities or Securities to be issued or sold pursuant to any Registration Statement free of any restrictive legends and in
such denominations and registered in such names as Holders may request. 
  

 11 

 (j) (i) Upon the occurrence of any event contemplated by subsections (c)(ii) through (v) above, the
Company and the Guarantor shall promptly (or within the time period provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the applicable Registration Statement or an amendment or supplement to the related
Prospectus or file any other required document so that, as thereafter delivered to Initial Purchaser of the securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. In such circumstances, the period of effectiveness of the Exchange Offer Registration Statement
provided for in Section 2 shall be extended by the number of days from and including the date of the giving of a notice of suspension pursuant to Section 4(c) to and including the date when the Initial Purchaser, the Holders of the Securities and
any known Exchanging Dealer shall have received such amended or supplemented Prospectus pursuant to this Section. 
  
 (ii) Upon the occurrence or existence of any pending corporate development or any other material event that, in the reasonable judgment of
the Company and the Guarantor, makes it appropriate to suspend the availability of a Shelf Registration Statement and the related Prospectus, the Company and the Guarantor shall give notice (without notice of the nature or details of such events) to
the Holders that the availability of the Shelf Registration is suspended and, upon actual receipt of any such notice, each Holder agrees not to sell any Registrable Securities pursuant to the Shelf Registration until such Holder’s receipt of
copies of the supplemented or amended Prospectus provided for in Section 3(k)(i) hereof, or until it is advised in writing by the Company and the Guarantor that the Prospectus may be used, and has received copies of any additional or supplemental
filings that are incorporated or deemed incorporated by reference in such Prospectus. The period during which the availability of the Shelf Registration and any Prospectus is suspended (the “Deferral Period”) shall not exceed 60 days in
any three-month period or 90 days in any twelve-month period. 
  
 (k) Not later than the effective date of any Shelf Registration Statement or the consummation of the Registered Exchange Offer if under the Exchange Offer Registration Statement, the Company and the Guarantor shall provide a CUSIP number
for the New Securities registered under such Registration Statement and provide the Trustee with printed certificates for such New Securities, in a form eligible for deposit with The Depository Trust Company. 
  
 (l) The Company and the Guarantor shall comply with all applicable rules and
regulations of the Commission and shall make generally available to the holders of securities of the Company an earnings statement satisfying the provisions of Section 11(a) of the Act as soon as practicable after the effective date of the
applicable Registration Statement and in any event no later than 45 days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning with the first month of the Company’s first fiscal quarter commencing after the
effective date of the applicable Registration Statement. 
  

 12 

 (m) The Company and the Guarantor shall cause the Indenture to be qualified under the Trust Indenture Act
in a timely manner. 
  
 (n) The Company and the Guarantor may
require each Holder of securities to be sold pursuant to any Shelf Registration Statement to furnish to the Company such information regarding the Holder and the distribution of such securities as the Company and the Guarantor may from time to time
reasonably require for inclusion in such Registration Statement. The Company and the Guarantor may exclude from such Shelf Registration Statement the Securities of any Holder that unreasonably fails to furnish such information within a reasonable
time after receiving such request. Each Holder agrees to promptly furnish to the Company and the Guarantor all information required to be disclosed in order to make the information previously furnished not materially misleading. 
  
 (o) In the case of any Shelf Registration Statement, the Company and the
Guarantor shall enter into customary agreements (including, if requested, an underwriting agreement in customary form) and take all other appropriate actions in order to expedite or facilitate the registration or the disposition of the Registrable
Securities, and in connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures no less favorable than those set forth in Section 6 hereof. 
  
 (p) In the case of any underwritten offering under the Shelf Registration
Statement, the Company and the Guarantor shall: 
  
 (i) make reasonably available for inspection by any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by any such underwriter all relevant financial
and other records and pertinent corporate documents of the Company, the Guarantor and their subsidiaries; 
  
 (ii) cause the Company’s and the Guarantor’s officers, directors, employees, accountants and auditors to supply all relevant
information reasonably requested by such underwriter, attorney, accountant or agent in connection with any such Registration Statement as is customary for similar due diligence examinations; 
  
 (iii) make such representations and warranties to the
underwriters in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings; 
  
 (iv) obtain opinions of counsel to the Company and the Guarantor and updates thereof (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the Managing Underwriters) addressed to the underwriters covering such matters as are customarily covered in opinions requested in underwritten offerings; 
  

 13 

 (v) obtain “comfort” letters and updates thereof from the independent certified
public accountants of the Company and the Guarantor (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or the Guarantor or of any business acquired by the Company or the Guarantor for which
financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to the underwriters in customary form and covering matters of the type customarily covered in “comfort” letters in
connection with primary underwritten offerings; and 
  
 (vi) deliver such documents and certificates as may be reasonably requested by the Managing Underwriters including those to evidence compliance with Section 4(j) and with any customary conditions contained in the underwriting agreement or
other agreement entered into by the Company or the Guarantor. 
  
 The actions set
forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q) shall be performed at each closing under any underwriting or similar agreement as and to the extent required thereunder. 
  
 (q) In the case of any Exchange Offer Registration Statement, the Company and the Guarantor shall, if requested by an
Initial Purchaser: 
  
 (i) make reasonably
available for inspection by the requesting party, and any attorney, accountant or other agent retained by the requesting party, all relevant financial and other records, pertinent corporate documents and properties of the Company, the Guarantor and
their subsidiaries; 
  
 (ii) cause the Company
and the Guarantor’s officers, directors, employees, accountants and auditors to supply all relevant information reasonably requested by the requesting party or any such attorney, accountant or agent in connection with any such Registration
Statement as is customary for similar due diligence examinations; 
  
 (iii) make such representations and warranties to the requesting party, in form, substance and scope as are customarily made by issuers to underwriters in primary underwritten offerings and covering matters including,
but not limited to, those set forth in the Purchase Agreement; 
  
 (iv) obtain opinions of counsel to the Company and the Guarantor and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the requesting party and its counsel,
addressed to the requesting party, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by the requesting party or its counsel; 
  
 (v) obtain “comfort” letters and updates thereof
from the independent certified public accountants of the Company and the Guarantor (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or the Guarantor or 

  

 14 

 
of any business acquired by the Company or the Guarantor for which financial statements and financial data are, or are required to be, included in the
Registration Statement), addressed to the requesting party, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings, or if requested by the requesting
party or its counsel in lieu of a “comfort” letter, an agreed-upon procedures letter under Statement on Auditing Standards No. 35, covering matters requested by the requesting party or its counsel; and 
  
 (vi) deliver such documents and certificates as may be
reasonably requested by the requesting party or its counsel, including those to evidence compliance with Section 4(j) and with conditions customarily contained in underwriting agreements. 
  
 The foregoing actions set forth in clauses (iii), (iv), (v), and (vi) of this Section shall be performed at
the close of the Registered Exchange Offer and the effective date of any post-effective amendment to the Exchange Offer Registration Statement. 
  
 (r) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities by Holders to the Company (or to such other person as directed by
the Company) in exchange for the New Securities, the Company and the Guarantor shall mark, or caused to be marked, on the Securities so exchanged that such Securities are being cancelled in exchange for the New Securities. In no event shall the
Securities be marked as paid or otherwise satisfied. 
  
 (s) If
requested by the Managing Underwriters in connection with underwritten offering under the Shelf Registration Statement, the Company and the Guarantor shall use their reasonable best efforts if the Securities have been rated prior to the initial sale
of such Securities, to confirm such ratings will apply to the New Securities covered by such Shelf Registration Statement. 
  
 (t) In the event that any Broker-Dealer shall underwrite any Securities or participate as a member of an underwriting syndicate or selling group or
“assist in the distribution” (within the meaning of the NASD Rules) thereof, whether as a Holder of such Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Company and
the Guarantor shall use their reasonable best efforts to assist such Broker-Dealer in complying with the NASD Rules. 
  
 (u) The Company and the Guarantor shall use their reasonable best efforts to take all other steps necessary to effect the registration of the Registrable
Securities and the Guaranty covered by a Registration Statement. 
  
 5. Registration Expenses. The Company and the Guarantor shall bear all expenses incurred in connection with the performance of their obligations under Sections 2, 3 and 4 hereof and, in the event of any Shelf Registration Statement,
will reimburse the Holders for the reasonable fees and disbursements of one firm or counsel (which shall initially be Cleary Gottlieb Steen & Hamilton, but which may be another nationally recognized law firm experienced in securities
matters designated by the Majority Holders) to act as counsel for the Holders in connection therewith. Except as set forth in the preceding sentence, the Company and 

  

 15 

 
the Guarantor shall not be required to bear any expenses, fees or disbursements of counsel to the Initial Purchaser, any underwriter or any Holder or any
underwriting discounts and commissions or transfer taxes, if any, relating to the sale or disposition of Registrable Securities by such persons. 
  
 6. Indemnification and Contribution. (a) The Company and the Guarantor agree to indemnify and hold harmless each Holder of Securities or New
Securities, as the case may be, covered by any Registration Statement, each Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 4(g) hereof, each Exchanging Dealer, the directors, officers, employees, Affiliates
and agents of each such Holder, Initial Purchaser or Exchanging Dealer and each person who controls any such Holder, Initial Purchaser or Exchanging Dealer within the meaning of either the Act or the Exchange Act against any and all losses, claims,
damages or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or
liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement as originally filed or in any amendment thereof, or in any
preliminary Prospectus or the Prospectus, or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of any preliminary Prospectus or the Prospectus, in the light of the circumstances under which they were made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other
expenses reasonably incurred by it in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company and the Guarantor will not be liable in any such case to the extent
that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to
the Company or the Guarantor by or on behalf of the party claiming indemnification specifically for inclusion therein; provided further, that with respect to any untrue statement or omission of material fact made in any preliminary Prospectus
in connection with a Shelf Registration Statement, the indemnity agreement contained in this Section 6(a) shall not inure to the benefit of any party claiming indemnification from whom the person asserting any such loss, claim, damage or liability
purchased the securities concerned, to the extent that any such loss, claim, damage or liability of such party claiming indemnification occurs under the circumstance where it shall have been determined by a court of competent jurisdiction by final
and nonappealable judgment that (w) the Company or the Guarantor had previously furnished copies of the Prospectus to the party claiming indemnification, (x) delivery of the Prospectus was required by the Act to be made by the party claiming
indemnification to such person, (y) the untrue statement or omission of a material fact contained in the preliminary Prospectus was corrected in the Prospectus and (z) there was not sent or given to such person, at or prior to the written
confirmation of the sale of such securities to such person, a copy of the Prospectus. This indemnity agreement shall be in addition to any liability that the Company and the Guarantor may otherwise have. 
  
 The Company and the Guarantor also agree to indemnify as provided in this
Section 6(a) or contribute as provided in Section 6(d) hereof to Losses of each underwriter, if 

  

 16 

 
any, of Securities or New Securities, as the case may be, registered under a Shelf Registration Statement, their directors, officers, employees, Affiliates
or agents and each person who controls such underwriter on substantially the same basis as that of the indemnification of the Initial Purchaser and the selling Holders provided in this Section 6(a) and shall, if requested by any Holder, enter into
an underwriting agreement reflecting such agreement, as provided in Section 4(p) hereof. 
  
 (b) Each Holder of securities covered by a Registration Statement (including each Initial Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and hold harmless the Company and
the Guarantor, each of their directors, each of their officers who signs such Registration Statement and each person who controls the Company or the Guarantor within the meaning of either the Act or the Exchange Act, to the same extent as the
foregoing indemnity from the Company and the Guarantor to each such Holder, but only with reference to written information relating to such Holder furnished to the Company or the Guarantor by or on behalf of such Holder specifically for inclusion in
the documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability that any such Holder may otherwise have. 
  
 (c) Promptly after receipt by an indemnified party under this Section 6 or notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under this Section, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve it from
liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses; and (ii) will not, in any event,
relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of
the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees
and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be satisfactory to
the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel
(including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such
counsel with a conflict of interest; (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be
legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to
represent the indemnified party within a reasonable time after notice of the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An
indemnifying party will not, without the prior written consent of the indemnified 

  

 17 

 
parties, settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect
of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each
indemnified party from all liability arising out of such claim, action, suit or proceeding. 
  
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section is unavailable to or insufficient to hold harmless an indemnified party for any reason, then each applicable indemnifying party
shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending any loss, claim, liability, damage
or action) (collectively “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative benefits received by such indemnifying party, on the one hand, and such indemnified party, on
the other hand, from the Initial Placement and the Registration Statement which resulted in such Losses; provided, however, that in no case shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of the
purchase discount or commission applicable to such Security, or in the case of a New Security, applicable to the Security that was exchangeable into such New Security, as set forth in the Final Memorandum, nor shall any underwriter be responsible
for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Registration Statement which resulted in such Losses. If the allocation provided by the immediately preceding
sentence is unavailable for any reason, the indemnifying party and the indemnified party shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of such indemnifying party, on the
one hand, and such indemnified party, on the other hand, in connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be
equal to the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Final Memorandum. Benefits received by the Initial Purchaser shall be deemed to be equal to the total purchase discounts and commissions as
set forth on the cover page of the Final Memorandum, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Securities or New Securities, as applicable, registered under the Act. Benefits received by any
underwriter shall be deemed to be equal to the total underwriting discounts and commissions, as set forth on the cover page of the Prospectus forming a part of the Registration Statement which resulted in such Losses. Relative fault shall be
determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information provided by the indemnifying party, on the one
hand, or by the indemnified party, on the other hand, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The parties agree that it would not be just
and equitable if contribution were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or any other method of allocation which does not take account of the equitable considerations referred to above.
Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was 

  

 18 

 
not guilty of such fraudulent misrepresentation. For purposes of this Section, each person who controls a Holder within the meaning of either the Act or the
Exchange Act and each director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Company or the Guarantor within the meaning of either the Act or the Exchange Act,
each officer of the Company or the Guarantor who shall have signed the Registration Statement and each director of the Company or the Guarantor shall have the same rights to contribution as the Company and the Guarantor, subject in each case to the
applicable terms and conditions of this paragraph (d). 
  
 (e) The
provisions of this Section will remain in full force and effect, regardless of any investigation made by or on behalf of any Holder, the Company or the Guarantor or any of the indemnified persons referred to in this Section 6, and will survive the
sale by a Holder of securities covered by a Registration Statement. 
  
 7. Underwritten Registrations. (a) If any of the Securities or New Securities, as the case may be, covered by any Shelf Registration Statement are to be sold in an underwritten offering, the Managing Underwriters shall be selected by
the Majority Holders and shall be reasonably acceptable to the Company and the Guarantor. 
  
 (b) No person may participate in any underwritten offering pursuant to any Shelf Registration Statement, unless such person (i) agrees to sell such person’s Securities or New Securities, as the case may be, on
the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such arrangements; and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents reasonably required under the terms of such underwriting arrangements. 
  
 8. Registration Defaults. If any of the following events shall occur, then the Company and the Guarantor shall pay liquidated damages (the “Registration Default Damages”) to the Holders of Securities
in respect of the Securities as follows: 
  
 (a) if the Registered
Exchange Offer is not completed on or prior to October 31, 2005, then Registration Default Damages shall accrue on the Registrable Securities at a rate of 0.5% per annum from and including such specified date; or 
  
 (b) if any Shelf Registration Statement required by this Agreement is not
declared effective by the Commission on or prior to the date by which reasonable best efforts are to be used to cause such effectiveness under this Agreement, then commencing on the day after such specified date, Registration Default Damages shall
accrue on the Registrable Securities at a rate of 0.5% per annum from and including such specified date; or 
  
 (c) if 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, then commencing on the day the Registration Statement ceases to be effective, Registration Default Damages shall accrue on the Registrable Securities at a rate of 

  

 19 

 
0.5% per annum from and including such date on which the Registration Statement ceases to be effective; 
  
 provided, however, that (1) upon the completion of the Registered Exchange
Offer (in the case of paragraph (a) above), (2) upon the effectiveness of the Shelf Registration Statement (in the case of paragraph (b) above), or (3) upon the effectiveness of the Registration Statement which had ceased to remain effective (in the
case of paragraph (c) above), Registration Default Damages shall cease (as of the date prior to the date on which all Registration Defaults have been cured) to accrue. 
  
 9. No Inconsistent Agreements. The Company and the Guarantor have not entered into, and agree not to enter into, any
agreement with respect to the securities of or guaranteed by the Company or the Guarantor that is inconsistent with the rights granted to the Holders herein or that otherwise conflicts with the provisions hereof. 
  
 10. Amendments and Waivers. The provisions of this Agreement may not
be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company and the Guarantor have obtained the written consent of the Holders of a majority of the aggregate
principal amount of the Registrable Securities outstanding; provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Company and the Guarantor shall obtain the written
consent of each such Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to be effective; provided, further, that no amendment, qualification, supplement, waiver or consent with respect to
Section 8 hereof shall be effective as against any Holder of Registered Securities unless consented to in writing by such Holder; and provided, further, that the provisions of this Article 10 may not be amended, qualified, modified or
supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company and the Guarantor have obtained the written consent of the Initial Purchaser and each Holder. Notwithstanding the foregoing (except
the foregoing provisos), a waiver or consent to departure from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities or New Securities, as the case may be, are being sold pursuant to a
Registration Statement and that does not directly or indirectly affect the rights of other Holders may be given by the Majority Holders, determined on the basis of Securities or New Securities, as the case may be, being sold rather than registered
under such Registration Statement. 
  
 11. Notices. All
notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 
  
 (a) if to a Holder, at the most current address given by such holder to the
Company in accordance with the provisions of this Section 11, which address initially is, with respect to each Holder, the address of such Holder maintained by the Registrar under the Indenture; 
  

 20 

 (b) if to the Initial Purchaser, initially at the address or addresses set forth in the Purchase
Agreement; and 
  
 (c) if to the Company or the Guarantor,
initially at their respective addresses set forth in the Purchase Agreement. 
  
 All such notices and communications shall be deemed to have been duly given when received. 
  
 The Initial Purchaser, the Company or the Guarantor by notice to the other parties may designate additional or different addresses for subsequent notices
or communications. 
  
 12. Remedies. Each Holder, in
addition to being entitled to exercise all rights provided to it herein, in the Indenture or in the Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under
this Agreement. The Company and the Guarantor agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by them of the provisions of this Agreement and hereby agree to waive in any action for specific
performance the defense that a remedy at law would be adequate. 
  
 13. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective successors and assigns, including, without the need for an express assignment or any consent by the Company or the
Guarantor thereto, subsequent Holders of Securities and the New Securities, and the indemnified persons referred to in Section 6 hereof. The Company and the Guarantor hereby agree to extend the benefits of this Agreement to any Holder of Securities
and the New Securities, and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. 
  
 14. Jurisdiction. The Company and the Guarantor agree that any suit, action or proceeding against the Company or the Guarantor brought by any
Holder or Initial Purchaser, the directors, officers, employees, Affiliates and agents of any Holder or Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, arising out of or based upon this Agreement or the transactions
contemplated hereby may be instituted in any State or U.S. federal court in The City of New York and County of New York, and waive any objection which they may now or hereafter have to the laying of venue of any such proceeding, and irrevocably
submit to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company and the Guarantor hereby appoint CT Corporation System, located at 111 Eighth Avenue, New York, New York 10011 as their authorized agent (the
“Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated herein which may be instituted in any State or U.S. federal court in The
City of New York and County of New York, by any Holder or Initial Purchaser, the directors, officers, employees, Affiliates and agents of any Holder or Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, and expressly
accept the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding. The Company and the Guarantor hereby represent and warrant that the Authorized Agent has accepted such appointment and has agreed to act as
said agent for service of process, and the Company and the 

  

 21 

 
Guarantor agree to take any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force
and effect as aforesaid so long as any of the Securities shall be outstanding. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process upon the Company or the Guarantor. To the extent that the
Company or the Guarantor may acquire any immunity from jurisdiction of any court or from any legal process (whether through service of notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to
itself or its property, they hereby irrevocably waive such immunity in respect of this Agreement, to the fullest extent permitted by law. Notwithstanding the foregoing, any action arising out of or based upon this Agreement may be instituted by any
Holder or Initial Purchaser, the directors, officers, employees, Affiliates and agents of any Holder or Initial Purchaser, or by any person who controls any Holder or Initial Purchaser, in any court of competent jurisdiction in Cayman Islands or
Brazil. 
  
 15. Currency. Each reference in this
Agreement to U.S. dollars (the “relevant currency”) is of the essence. To the fullest extent permitted by law, the obligation of the Company and the Guarantor in respect of any amount due under this Agreement will, notwithstanding any
payment in any other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the relevant currency that the party entitled to receive such payment may, in accordance with its normal procedures,
purchase with the sum paid in such other currency (after any premium and costs of exchange) on the Business Day immediately following the day on which such party receives such payment. If the amount in the relevant currency that may be so purchased
for any reason falls short of the amount originally due, the Company and the Guarantor will pay such additional amounts, in the relevant currency, as may be necessary to compensate for the shortfall. Any obligation of the Company and the Guarantor
not discharged by such payment will, to the fullest extent permitted by applicable law, be due as a separate and independent obligation and, until discharged as provided herein, will continue in full force and effect. 
  
 16. Waiver of Immunity. To the extent that the Company or the
Guarantor has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment in aid or otherwise)
with respect to itself or any of its property, the Company and the Guarantor hereby irrevocably waive and agree not to plead or claim such immunity in respect of their obligations under this Agreement. 
  
 17. Counterparts. This Agreement may be signed in one or more
counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. 
  
 18. Headings. The section headings used herein are for convenience only and shall not affect the construction hereof. 
  
 19. Applicable Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts made and to be 

  

 22 

 
performed in the State of New York. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of
or relating to this Agreement. 
  
 20. Severability. In the
event that any one of more of the provisions contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions hereof shall not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law.

  
 21. Securities Held by the Company or the Guarantor,
etc. Whenever the consent or approval of Holders of a specified percentage of principal amount of Securities or New Securities is required hereunder, Securities or New Securities, as applicable, held by the Company, the Guarantor or their
Affiliates (other than subsequent Holders of Securities or New Securities if such subsequent Holders are deemed to be Affiliates solely by reason of their holdings of such Securities or New Securities) shall not be counted in determining whether
such consent or approval was given by the Holders of such required percentage. 
  

 23 

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

  

					
	 CSN ISLANDS IX CORP.

		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
		
	 By:
	 	/s/    LAURO HENRIQUE CAMPOS
REZENDE        
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
	
	COMPANHIA SIDERÚRGICA NACIONAL - Guarantor
		
	 By:
	 	/s/    OTÁVIO DE GARCIA
LAZCANO        
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 
		
	 By:
	 	/s/    LAURO HENRIQUE CAMPOS
REZENDE        
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

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

					
	CITIGROUP GLOBAL MARKETS INC. 
		
	 By:
	 	/s/    JORIO S.
SALGADOGAMA        
	 	 	 Name:
	 	Jorio S. Salgadogama
	 	 	 Title:
	 	Vice President

  
 WITNESSES: 
  

					
		
	 1.
	 	 
	 	 	 Name:
	 	 
		
	 2.
	 	 
	 	 	 Name:
	 	 

  

 24 

 ANNEX A 
  
 Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in
connection with any resale of such new securities. The Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the
Act. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities where such securities were acquired by such broker-dealer
as a result of market-making activities or other trading activities. The company and the guarantor have agreed that, starting on the expiration date and ending on the close of business 180 days after the expiration date, they will make this
prospectus available to any broker-dealer for use in connection with any such resale. See “Plan of Distribution”. 
  

 A-1 

 ANNEX B 
  
 Each broker-dealer that receives new securities for its own account in exchange for securities, where such securities were acquired by such broker-dealer
as a result of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such new securities. See “Plan of Distribution”. 
  

 B-1 

 ANNEX C 
  
 PLAN OF DISTRIBUTION 
  
 Each broker-dealer that receives new securities for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in
connection with any resale of such new securities. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of new securities received in exchange for securities where such
securities were acquired as a result of market-making activities or other trading activities. The company and the guarantor have agreed that, starting on the expiration date and ending on the close of business 180 days after the expiration date,
they will make this prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. In addition, until
                    ,             , all dealers effecting transactions in
the new securities may be required to deliver a prospectus. 
  
 The company will not receive any proceeds from any sale of new securities by brokers-dealers. New securities received by broker-dealers for their own account pursuant to the Exchange Offer may be sold from time to time in one or more
transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the new securities or a combination of such methods of resale, at market prices prevailing at the time of resale, at prices related to such
prevailing market prices or negotiated prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or concessions from any such broker-dealer and/or the
purchasers of any such new securities. Any broker-dealer that resells new securities that were received by it for its own account pursuant to the Exchange Offer and any broker or dealer that participates in a distribution of such new securities may
be deemed to be an “underwriter” within the meaning of the Act and any profit of any such resale of new securities and any commissions or concessions received by any such persons may be deemed to be underwriting compensation under the Act.
The Letter of Transmittal states that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Act. 
  
 For a period of 180 days after the expiration date, the company will promptly
send additional copies of this prospectus and any amendment or supplement to this prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. The company and the guarantor have agreed to pay all expenses incident to
the Exchange Offer (including the expenses of one counsel for the holder of the securities) other than commissions or concessions of any brokers or dealers and will indemnify the holders of the securities (including any broker-dealers) against
certain liabilities, including liabilities under the Act. 
  

 C-1 

 ANNEX D 
  
 Rider A 
  
 PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO. 
  

					
	Name:	  	 	  	 
	Address:	  	 	  	 
			
	 	  	 	  	 

  
 Rider B 
  
 If the undersigned is not a Broker-Dealer, the undersigned represents that it acquired the
New Securities in the ordinary course of its business, it is not engaged in, and does not intend to engage in, a distribution of New Securities and it has no arrangements or understandings with any person to participate in a distribution of the New
Securities. If the undersigned is a Broker-Dealer that will receive New Securities for its own account in exchange for Securities, it represents that the Securities to be exchanged for New Securities were acquired by it as a result of market-making
activities or other trading activities and acknowledges that it will deliver a prospectus in connection with any resale of such New Securities; however, by so acknowledging and by delivering a prospectus, the undersigned will not be deemed to admit
that it is an “underwriter” within the meaning of the Act. 
  

 D-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00090-of-00352.parquet"}]]