Document:

GUARANTEE

Exhibit 4.3

GUARANTEE

 

THIS GUARANTEE is made on October 28, 2002 by Nestlé S.A. in favour of the holders for the time being of the Notes (as defined below). Each holder of a Note is a "Holder".

WHEREAS

(A)Alcon Capital Corporation (the "Issuer") and Nestlé S.A. as guarantor (the "Guarantor") have entered into a Dealer Agreement in respect of a USD 2 billion 4(2) Commercial Paper Program (the "Program"), dated October 28, 2002 with the dealers (the "Dealers") named therein (the "Dealer Agreement", which expression includes the same as it may be amended or supplemented from time to time) under which the Issuer may, from time to time, issue US commercial paper short-term promissory notes (the "Notes", and each a "Note");

	The Issuer, the Guarantor and Citibank N.A. (the "Agent") have entered into a Commercial Paper Issuing and Paying Agent Agreement dated October 28, 2002 (the "Agent Agreement") in respect of the Notes;

 
(C)The Guarantor has agreed to guarantee the payment of all sums expressed to be payable from time to time by the Issuer to the Holders of Notes.

The Guarantor as joint and several guarantor according to Article 496 of the Swiss Code of Obligations hereby declares irrevocably that it guarantees to each Holder the due and punctual payment, in accordance with the Terms and Conditions of the Notes (the "Terms"), of the principal, interest (if any) and any other amounts payable by the Issuer to such Holder under the Notes up to a maximum amount of USD 2,000,000,000 (United States Dollars two billion) upon the following terms:

(1)In the event of any failure by the Issuer punctually to pay any such principal, interest (if any) or other amount as and when the same becomes due in accordance with the Terms or in the event that the Issuer's insolvency is evident, the Guarantor as joint and several guarantor will on demand pay to such Holder any such principal or other amount payable by the Issuer to such Holder.

(2)The Guarantor confirms, with respect to each Note and the indebtedness evidenced thereby, that it does not have and will not assert as a defence to any claim under this Guarantee any right to require any proceedings to be brought first against the Issuer or any lack of diligence, presentment to the Issuer or any paying agent, demand for payment from the Issuer or any paying agent or filing of claims with any court in the event of merger, insolvency, bankruptcy or judicial reorganisation of the Issuer, protest, notice or any other demand whatsoever (other than a demand for payment under this Guarantee) and covenants that this Guarantee will not be discharged except by complete performance of the obligations contained in each Note.

(3)This Guarantee constitutes a direct, unconditional, unsecured and unsubordinated obligation of the Guarantor and will rank pari passu with all other present and future unsecured and unsubordinated indebtedness for borrowed money of the Guarantor (other than obligations preferred by mandatory operation of law).

(4)This Guarantee will continue in full force and effect until the date which is 365 days after the maturity date of the most recent Note issued under the Dealer Agreement. At the end of such period this Guarantee will expire automatically without further notice, except in relation to any claim hereunder commenced within four weeks thereafter.

(5)All payments of principal and/or interest by the Guarantor in respect of this Guarantee shall be made without withholding or deduction for or on account of any present or future tax, duty or charge of whatever nature imposed or levied by or on behalf of Switzerland, or any authority thereof or therein having power to tax ("Swiss Taxes") unless the withholding or deduction is required by law. In the event of a withholding or deduction for Swiss Taxes, the Guarantor shall pay to the extent permitted by applicable law such additional amounts as will result (after such withholding or deduction) in the receipt by the Holder in respect of this Guarantee of the sums which would have been received from the Guarantor in respect of this Guarantee.

(6)This Guarantee will be deposited with the Agent for the benefit of the Holders.

(7)This Guarantee is governed by and shall be construed in accordance with Swiss law.

(8)The place of jurisdiction for all disputes arising from this Guarantee shall be Vevey, Switzerland.

Vevey, October 28, 2002

NESTLÉ S.A.

 
/s/ Philippe Blondiaux/s/ Gilbert Dupuis

    Philippe Blondiaux   Glbert Dupuis[Newco Merger Company or RPPC letterhead]

Exhibit 4.4

Alcon Holdings, Inc.

DEMAND NOTE

$140,000,000.00Date:June 21, 2002

FOR VALUE RECEIVED, the undersigned promises to pay to the order of Nestlé Capital Corporation ("NCC") in lawful money of the United States of America the principal sum of One Hundred Forty Million Dollars ($140,000,000.00), or, if less, the aggregate unpaid principal amount of all advances that have been made by NCC to the undersigned hereunder and are outstanding on the date this note is presented for payment by NCC to the undersigned.

The unpaid balance of this obligation shall bear interest from the date hereof until full payment under the following terms:

	
Principal:
	
The average daily balance of the unpaid obligation for the Interest Period.

	
Per Annum Rate:
	
The interest rate charged will be the average one month LIBOR plus 50 basis points for the Interest Period as published on Bloomberg (US0001M Index HP) for the historical rates.

	
Calculation Basis:
	
Actual / 360 day basis.

	
Interest Period:
	
Monthly, as defined by the Nestlé Holdings, Inc. fiscal calendar.

	
Interest Payments:
	Monthly, in arrears, settled in the Nestlé S.A. netting cycle.

 

This Note is payable on demand and the holder shall be entitled to require payment in full of all amounts outstanding, whether or not an event of default exists hereunder.  Any demand that exceeds twenty-five million ($25,000,000) or 50% of the advances outstanding requires at least ten (10) business days notice to the undersigned, which requirement may be waived by the undersigned.  The undersigned may repay part or all of its loan balance without premium or penalty, provided that, if any repayment exceeds twenty five million ($25,000,000) or 50% of the loan balance, the undersigned must notify NCC at least ten (10) business days prior to such repayment, which notification may be waived by NCC.

NCC shall record, in a separate loan account, all advances made by NCC pursuant to this Note, and all repayments of such advances made by the undersigned.  NCC shall deliver to the undersigned each month a report that details all advances and repayments for that month.

The undersigned hereby waives presentment, protest, demand and notice of nonpayment of this Note.  This Note is subject to and shall be construed under the laws of the State of Delaware.

By:  Alcon Holdings, Inc.

 

/s/ David Bass

David A. Bass

VP, Treasurer Global Operations

 

 

/s/ Jake Murrah

Jake Murrah

VP, Finance U.S. OperationsSERVICES AGREEMENT

Exhibit 4.5

SERVICES AGREEMENT

 

 

 

This Services Agreement (the "Agreement") is made and entered into as of this .1st day of January, 2003, by and between

 

 

 

 

NESTLÉ S.A., a Swiss corporation whose address is 55 avenue Nestlé, CH-1800 Vevey, Switzerland ("Nestlé")

and

ALCON, INC., a Swiss corporation whose address is Bösch 69, CH-6331 Hünenberg, Switzerland ("Alcon").

 

 

 

 

WHEREAS, Nestlé has agreed to provide treasury and investment services to Alcon on the terms and conditions set forth in this Services Agreement.

 

NOW, THEREFORE, Nestlé and Alcon do hereby mutually agree as follows:

 

 

1.Provision of Services

1.1During the Term of this Agreement (as defined in Clause 2), Nestlé shall, in the name and on behalf of Alcon, invest funds entrusted to it by Alcon and manage the investment portfolio so constituted (the "Services").  Such funds (the "Capital") shall at all times remain the property of Alcon.

1.2  Subject to any limitation contained in this Agreement or communicated in writing by Alcon to Nestlé, Alcon hereby gives Nestlé full power, and expressly authorizes Nestlé, to act and invest in the name and on behalf of Alcon.  Such power and authorization is strictly limited to any action taken by Nestlé for the purpose of rendering the Services under this Agreement.

1.3In rendering the Services under this Agreement, Nestlé will follow the Nestlé Money Market Investment Guidelines and the Nestlé Treasury Money Market Limits.

1.4Alcon shall communicate to Nestlé its instructions, which Nestlé is bound to follow, in terms of:

- currency and capital of the portfolio,

- minimum and maximum duration of the investment,

- counterpart limits (name, rating, amounts),

- portfolio benchmark.

In case Alcon's instructions contradict Nestlé's rules and guidelines under Subclause 1.3, Alcon's instructions shall govern.  However, Nestlé shall not be bound by any instruction from Alcon regarding the choice of investment instruments used to render the Services, which shall be determined solely by Nestlé.

1.5The parties agree that Nestlé may furnish the Services through affiliates of Nestlé.

 

2.Term

The "Term" of this Agreement shall be the period commencing on the date hereof and ending on any termination date specified in a written notice from one party to the other sixty (60) days in advance of such termination.

 

3.Consideration

In consideration of the Services furnished, Alcon shall pay Nestlé 10 basis points ("bps") for Capital up to and including USD 500 mio and 7 bps if the Capital exceeds USD 500 mio (the "Fees").

 

4.Expenses

Alcon shall bear the cost of, and shall promptly reimburse Nestlé for, all reasonable out-of-pocket costs incurred by Nestlé personnel in connection with furnishing the Services to Alcon and its affiliates, including but not limited to photocopying, telephone, telefax, postage, delivery costs, transportation and travel costs (airfare to be agreed in advance on a case by case basis) and out of town lodging and meal expenses.

 

5.Invoicing and Payment

During each quarter, Nestlé shall invoice Alcon for the Services rendered during the previous quarter.  The invoice shall include the Fees and the expenses incurred by Nestlé during the previous quarter in rendering the Services.  Alcon shall pay the total invoiced amount to Nestlé within thirty (30) days from the date of invoice.

 

6.Liability

Nestlé shall not be held liable for any damages suffered by Alcon arising from the rendering of the Services by Nestlé, unless Nestlé has acted in reckless disregard of the instructions given by Alcon as per Clause 1.4, in which case Nestlé shall only be liable for direct damages incurred by Alcon (excluding in particular any consequential or incidental damages or lost profits).

 

7.Confidentiality

Each party hereby agrees to keep, hold and maintain in confidence all information of every kind and character of the other party that it may receive or collect, whether directly or indirectly, in the performance of the Services.  The parties agree to use all reasonable efforts to neither directly nor indirectly disclose such information to any third party outside of Nestlé or Alcon.

 

8.Notices

Any notices required or permitted to be given hereunder shall be in writing and shall be directed to the address of the receiving party as written above and to the attention of:

if to Nestlé:Group Treasurer

if to Alcon:Head of Finance

or to such other persons or addressees as either party may from time to time designate by a subsequent notice in writing to the other.

 

9.Applicable Law

This Services Agreement is governed by the laws of Switzerland.  In particular, the provisions on the ordinary mandate (articles 394 ff) of the Swiss Code of Obligations shall apply.

 

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their authorized representatives as of the date first above written.

 

	
NESTLÉ S.A.
	
ALCON, INC.

	 	 
	 	 
	 	 
	
/s/  Philippe Blondiaux
	
/s/ Guido Koller

	
Philippe Blondiaux
	
Guido Koller

	
Vice President, Group Treasurer
	
Senior Vice President

	
Date :  February 19, 2003
	
Date :  February 19, 2003

	 	 
	 	
/s/ Stefan Basler 

	 	
Stefan Basler

	 	
Prokurist

	 	
Date :  February 20, 2003

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