Document:

EX-4.2

 

 

 

Exhibit 4.2

NORSK
HYDRO a.s,

Issuer

TO

THE CHASE MANHATTAN BANK, N.A.,

Trustee

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of April 15, 1993

 

 

 

 

     FIRST SUPPLEMENTAL INDENTURE, dated as of April 15, 1993 between NORSK HYDRO a.s, a company
duly organized and existing under the laws of the Kingdom of Norway (herein called the “Company”),
having its principal office at Bygdøy allé 2.N-0257 Oslo 2, Norway and THE CHASE MANHATTAN BANK,
N.A., a national banking association, as Trustee (herein called the “Trustee).

RECITALS OF THE COMPANY

     WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated
as of April 15, 1992 (the “Indenture”), providing for the issuance from time to time of its
unsecured debentures, notes or other evidences of indebtedness (herein and therein called the
‘Securities”), to be issued in one or more series as provided in the Indenture. All terms used in
this First Supplemental Indenture shall have the meanings assigned to them in the Indenture;

     WHEREAS, Section 901(5) of the Indenture provides, among other things, that the Company, when
authorized by a Corporate Authorization, and the Trustee, at any time and from time to time, may,
without the consent of any Holder, enter into an indenture supplemental to the Indenture for the
purpose of adding to, changing or eliminating any provision of the Indentures, provided that such
addition, change or elimination shall not be effective as to any Security Outstanding of any series
created prior to the execution of such supplemental indenture which is entitled to the benefit of
such provision;

     WHEREAS, the Company, pursuant to the foregoing authority, proposes in and by this First
Supplemental Indenture to amend the Indenture in certain respects with respect to the Securities of
any series created on or after the date hereof; and

     WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, have been done.

     NOW, THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH:

     For and in consideration of the premises and the purchase of the Securities by the Holders
thereof, it is mutually covenanted and agreed, for the equal and proportionate benefit of all
Holders of the Securities or series thereof, with respect to the Securities of all or any series
Outstanding or issued on or after the date hereof as follows:

ARTICLE ONE

DEFINITIONS AND OTHER PROVISIONS OF

GENERAL APPLICATION

     SECTION 1.1. Definitions. Section 101 of the Indenture is hereby amended by:

     (i) adding the following provision after the definition of Defaulted Interest:

 

     “‘Depositary’ means, with respect to Securities of any series issuable in whole or in
part in the form of one or more Global Securities, a clearing agency registered under the
Exchange Act that is designated to act as Depositary for such Securities as contemplated by
Section 301.”

     (ii) adding the following provisions after the definition of Event of Default:

     “‘Exchange Act’ means the Securities Exchange Act of 1934 and any statute successor
thereto, in each case as amended from time to time.”

“‘Expiration Date’ has the meaning specified in Section 104.”

     “‘Global Security’ means a Security that evidences all or part of the Securities of any
series and bears the legend set forth in Section 204 (or such legend as may be specified as
contemplated by Section 301 for such Securities).”

     SECTION 1.2. Acts of Holders; Record Dates. Section 104 of the Indenture is hereby
amended by:

     (i) deleting paragraph (c) in its entirety and redesignating paragraphs (d) and (e) as
paragraphs (c) and (d); and

     (ii) adding the following provisions as new paragraphs (e) and (f), respectively:

     “(e) The Company may set any day as a record date for the purpose of determining the
Holders of Outstanding Securities of any series entitled to give, make or take any request,
demand, authorization, direction, notice, consent, waiver or other action provided or
permitted by this Indenture to be given, made or taken by Holders of Securities of such
series, provided that the Company may not set a record date for, and the provisions of this
paragraph shall not apply with respect to, the giving or making of any notice, declaration,
request or direction referred to in the next paragraph. If any record date is set pursuant
to this paragraph, the Holders of Outstanding Securities of the relevant series on such
record date, and no other Holders, shall be entitled to take the relevant action, whether or
not such Holders remain Holders after such record date; provided that no such action shall
be effective hereunder unless taken on or prior to the applicable Expiration Date by Holders
of the requisite principal amount of Outstanding Securities of such series on such record
date. Nothing in this paragraph shall be construed to prevent the Company from setting a
new record date for any action for which a record date has previously been set pursuant to
this paragraph (whereupon the record date previously set shall automatically and with no
action by any Person be cancelled and of no effect), and nothing in this paragraph shall be
construed to render ineffective any action taken by Holders of the requisite principal
amount of Outstanding Securities of the relevant series on the date such action is taken.
Promptly after any record date is set pursuant to this paragraph, the Company, at its own
expense, shall cause notice of such record date, the proposed action by Holders and the
applicable Expiration Date to be given to the Trustee in writing and to each Holder of
Securities of the relevant series in the manner set forth in Section 106.

 

     The Trustee may set any day as a record date for the purpose of determining the Holders
of Outstanding Securities of any series entitled to join in the giving or making of (i) any
Notice of Default, (ii) any declaration of acceleration referred to in Section 502, (iii)
any request to institute proceedings referred to in Section 507(2) or (iv) any direction
referred to in Section 512, in each case with respect to Securities of such series. If any
record date is set pursuant to this paragraph, the Holders of Outstanding Securities of such
series on such record date, and no other Holders, shall be entitled to join in such notice,
declaration, request or direction, whether or not such Holders remain Holders after such
record date; provided that no such action shall be effective hereunder unless taken on or
prior to the applicable Expiration Date by Holders of the requisite principal amount of
Outstanding Securities of such series on such record date. Nothing in this paragraph shall
be construed to prevent the Trustee from setting a new record date for any action for which
a record date has previously been set pursuant to this paragraph (whereupon the record date
previously set shall automatically and with no action by any Person be cancelled and of no
effect), and nothing in this paragraph shall be construed to render ineffective any action
taken by Holders of the requisite principal amount of Outstanding Securities of the relevant
series on the date such action is taken. Promptly after any record date is set pursuant to
this paragraph, the Trustee, at the Company’s expense, shall cause notice of such record
date, the proposed action by Holders and the applicable Expiration Date to be given to the
Company in writing and to each Holder of Securities of the relevant series in the manner set
forth in Section 106.

     With respect to any record date set pursuant to this Section, the Company party hereto
which sets such record dates may designate any day as the ‘Expiration Date’ and from time to
time may change the Expiration Date to any earlier or later day; provided that no such
change shall be effective unless notice of the proposed new Expiration Date is given to the
other party hereto in writing, and to each Holder of Securities of the relevant series in
the manner set forth in Section 106, on or prior to the existing Expiration Date. If an
Expiration Date is not designated with respect to any record date set pursuant to this
Section, the party hereto which set such record date shall be deemed to have initially
designated the 180th day after such record date as the Expiration Date with respect thereto,
subject to its right to change the Expiration Date as provided in this paragraph.

     Without limiting the foregoing, a Holder entitled hereunder to take any action
hereunder with regard to any particular Security may do so with regard to all or any part of
the principal amount of such Security or by one or more duly appointed agents each of which
may do so pursuant to such appointment with regard to all or any part of such principal
amount.

     (f) No holder of any beneficial interest in any Global Security held on its behalf by a
Depositary shall have any rights under this Indenture with respect to such Global Security,
and such Depositary may be treated by the Company, the Trustee, and any agent of the Company
or the Trustee as the owner of such Global Security for all purposes whatsoever. None of
the Company, the Trustee, any Paying Agent or the Security Registrar will have any
responsibility or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interests of a Global Security or for maintaining, supervising or reviewing any records relating to such
beneficial ownership interests.”

 

ARTICLE TWO

SECURITY FORMS

     SECTION 2.1. Forms Generally. Section 201 of the Indenture is hereby amended by
inserting the words “Depositary therefor or” after the words “any securities exchange or” in the
first paragraph thereof.

     SECTION 2.2. Form of Legend for Global Securities. Section 204 of the Indenture is
redesignated Section 205 and the following provisions are added as new Section 204:

“SECTION 204. Form of Legend for Global Securities.

     Unless otherwise specified as contemplated by Section 301 for the Securities evidenced
thereby, every Global Security authenticated and delivered hereunder shall bear a legend in
substantially the following form:

     This Security is a Global Security within the meaning of the Indenture hereinafter
referred to and is registered in the name of a Depositary or a nominee thereof. This
Security may not be exchanged in whole or in part for a Security registered, and no transfer
of this Security in whole or in part may be registered, in the name of any Person other than
such Depositary or a nominee thereof, except in the limited circumstances described in the
Indenture.”

ARTICLE THREE

THE SECURITIES

     SECTION 3.1. Amount Unlimited; Issuable in Series. Section 301 of the Indenture is
hereby amended by redesignating clauses (16) thereof as clause (17) and adding the following
provision as new clause 16:

     “(16) if applicable, that any Securities of the series shall be issuable in whole or in
part in the form of one or more Global Securities and, in such case, the respective
Depositaries for such Global Securities, the form of any legend or legends which shall be
borne by any such Global Security in addition to or in lieu of that set forth in Section 204
and any circumstances in addition to or in lieu of those set forth in Clause (2) of the last
paragraph of Section 305 in which any such Global Security may be exchanged in whole or in
part for Securities registered, and any transfer of such Global Security in whole or in part
may be registered, in the name or names of Persons other than the Depositary for such Global
Security or a nominee thereof:”

 

SECTION 3.2. Registration, Registration of Transfer and Exchange. Section 305 of the
Indenture is hereby amended by adding the following provisions at the end thereof.

     “The provisions of Clauses (1), (2), (3) and (4) below shall apply only to Global
Securities:

     (1) Each Global Security authenticated under this Indenture shall be registered
in the name of the Depositary designated for such Global Security or a nominee
thereof and delivered to such Depositary or a nominee thereof or custodian therefor,
and each such Global Security shall constitute a single Security for all purposes of
this Indenture.

     (2) Notwithstanding any other provision in this Indenture, no Global Security
may be exchanged in whole or in part for Securities registered, and no transfer of a
Global Security in whole or in part may be registered, in the name of any Person
other than the Depositary for such Global Security or a nominee thereof unless (A)
such Depositary (i) has notified the Company that it is unwilling or unable to
continue as Depositary for such Global Security or (ii) has ceased to be a clearing
agency registered under the Exchange Act, (B) there shall have occurred and be
continuing an Event of Default with respect to such Global Security or (C) there
shall exist such circumstances, if any, in addition to or in lieu of the foregoing
as have been specified for this purpose as contemplated by Section 301.

     (3) Subject to Clause (2) above, any exchange of a Global Security for other
Securities may be made in whole or in part, and all Securities issued in exchange
for a Global Security or any portion thereof shall be registered in such names as
the Depositary for such Global Security shall direct.

     (4) Every Security authenticated and delivered upon registration of transfer
of, or in exchange for or in lieu of, a Global Security or any portion thereof,
whether pursuant to this Section, Section 304, 306, 906 or 1107 or otherwise, shall
be authenticated and delivered in the form of, and shall be, a Global Security,
unless such Security is registered in the name of a Person other than the Depositary
for such Global Security or a nominee thereof.”

ARTICLE FOUR

MISCELLANEOUS

     SECTION 4.1. Application of First Supplemental Indenture. The provisions and benefits
of this First Supplemental Indenture shall not be effective with respect to Securities Outstanding
prior to the execution hereof.

     SECTION 4.2. Conflict with Trust Indenture Act. If any provision hereof limits,
qualifies or conflicts with another provision hereof which is required to be included in this First
Supplemental Indenture by any of the provisions of the Trust Indenture Act, such required
provisions shall control.

 

     SECTION 4.3. Execution in Counterparts. This First Supplemental Indenture may be
executed in any number of counterparts, each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the same instrument.

      

     IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be
duly executed, and their respective corporate seals to be hereunto affixed and attested, all as of
the day and year first above written.

	 	 	 	 	 
	 	NORSK HYDRO a.s

 	 
	 	By   /s/ Georg Størmer
 	 
	 	Name:  	Georg Størmer 	 
	 	Title:  	Senior Vice President Finance
	 
	 

	 	 	 	 	 
	 	Attest:

 	 
	 	By   /s/ Ivar A. Myhrvold
 	 
	 	Name:  	Ivar A. Myhrvold 	 
		Title:  	Attorney of Law

 	 
	 

	 	 	 	 	 
	 	THE CHASE MANHATTAN BANK, N.A.

 	 
	 	By
/s/ JP Heaney
 	 
	 	Name:  	JP Heaney	 
	 	Title:  	Vice President
 	 
	 

	 	 	 	 	 
	 	Attest:

 	 
	 	By   /s/ Denise Long
 	 
	 	Name:  	Denise Long	 
	 	Title:  	Assistant Secretary
 	 
	 

 

CITY OF
OSLO                    )

                                                ) ss.:

KINGDOM OF NORWAY )

     On the ___day of June, 1993 before me personally came Georg Størmer and Ivar A. Myhrvold, to
me known, who, being by me duly sworn, did depose and say that they are Senior Vice President
Finance and Attorney of Law of NORSK HYDRO a.s, one of the corporations described in and which
executed the foregoing instrument; that they are duly authorized for the purposes of this
instrument and that they have signed their names thereto under such authority.

	 	 	 	 	 
	 	 	 
	 	                                                        /s/ Ragnar Askheim
 	 
	 	Ragnar Askheim 	 
	 	Byfogd 	 

 

	 	 	 	 	 

STATE OF NEW YORK )

                                            ) ss.:

COUNTY OF KINGS       )

     On the 11th day of June, 1993 before me personally came James Heaney and Denise
Long, to me known, who, being by me duly sworn, did depose and say that they are Vice President and
Assistant Secretary of THE CHASE MANHATTAN BANK, N.A., one of the corporations described in and
which executed the foregoing instrument; that he knows the seal of said corporation; that the seal
affixed to said instrument is such corporate seal; that it was so affixed by authority of the Board
of Directors of said corporation, and that they signed their names thereto by like authority.

	 	 	 	 	 
	 	 	 
	 	                                                             /s/ Margaret M. Price
 	 
	 	Margaret M. Price 	 
		Notary Public, State of New York

No. 24-4980599

Qualified in Kings County

Commission Expires April 22, 1995EX-4.3

 

Exhibit
4.3

SECOND SUPPLEMENTAL INDENTURE

     THIS SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) is made as of January 15,
2004, between Norsk Hydro ASA, a company organized under the laws of the Kingdom of Norway (the
“Company”), and JPMorgan Chase Bank (formerly The Chase Manhattan Bank), as trustee (the
“Trustee”). Any term used but not defined herein shall have the corresponding meaning given to it
in the Indenture.

RECITALS OF THE COMPANY

     The Company and the Trustee have heretofore executed and delivered an Indenture dated as of
April 15, 1992, as amended by the First Supplemental Indenture dated as of April 15, 1993, (the
“Indenture”), pursuant to which the Company has heretofore issued its: 6.36% Notes due 2009, in the
principal amount of $300,000,000; 9.00% Debentures due 2012, in the principal amount of
$350,000,000; 9.125% Debentures due 2014, in the principal amount of $99,522,000; 7.50% Debentures
due 2016, in the principal amount of $300,000,000; 6.70% Debentures due 2018, in the principal
amount of $250,000,000; 7.75% Debentures due 2023, in the principal amount of $300,000,000; 7.15%
Debentures due 2025, in the principal amount of $250,000,000; 7.25% Debentures due 2027, in the
principal amount of $480,512,000; 6.80% Debentures due 2028, in the principal amount of
$250,000,000; and 7.15% Debentures due 2029, in the principal amount of $275,000,000 (together, the
“Notes and Debentures”).

     The Company desires to amend or eliminate certain provisions of the Indenture as hereinafter
set forth.

     Section 902 of the Indenture provides that the Company and the Trustee may amend or supplement
the Indenture with the consent of the Holders of at least a majority in principal amount of each
series of the Notes and Debentures then outstanding.

     All acts and things necessary to amend the Indenture and to make this Supplemental Indenture a
valid agreement of the Company and the Trustee, in accordance with its terms, have been done.

     NOW, THEREFORE, the Company hereby covenants and agrees with the Trustee as follows:

ARTICLE I

Amendments

SECTION 1.01 Waiver of Certain Rights.

     The following new Section 1011 is added to Article Ten of the Indenture:

     Section 1011. Waiver of Certain Rights.

     Neither the Trustee nor any Holder of the Securities issued pursuant to this
Indenture shall be entitled to institute any suit or proceeding, or take any other

 

action to enforce against AgriHold any rights to payment (or any other rights)
arising under the terms of this Indenture or the Securities or under Section
14-11(3) of the Public Limited Liability Companies Act of Norway, that it may have,
now or in the future, in connection with or related to any of the obligations
(including any payment obligations) of the Company hereunder and the Trustee and
each Holder hereby irrevocably waives any such rights against AgriHold; provided
that such rights arise as a result or consequence of, or in connection with, the
Agri Transaction. Any person that becomes a Holder of any of the Securities after
the date hereof agrees, by accepting such Securities, to be bound by the terms of
this Section 1011.

     SECTION 1.02 Certain Definitions.

     The following defined terms are added to Article One, Section 101 (Definitions) of the
Indenture:

     “AgriHold” means AgriHold ASA, or any successor entity thereto.

     “Agri Transaction” means the Company’s proposed plan of demerger, substantially
as contemplated and described in the Company’s Report on Form 6-K furnished to the
SEC on December 1, 2003, including the agreements contained therein, as the same may
be amended in a manner that is not materially prejudicial to Holders.

ARTICLE II

Effective Time

     SECTION 2.01 Effective Time of Amendments to Indenture.

     The amendments to the Indenture set forth in Article 1 of this Supplemental Indenture shall
only become effective upon (i) the execution and delivery of this Supplemental Indenture by the
Company and the Trustee (ii) the shareholders’ meeting during which the Company’s shareholder’s
vote on the Agri Transaction, as recommended by the Company’s Board of Directors, (the
“Shareholders’ Meeting”) having been held and (iii) the resolutions to be proposed at the
Shareholder’s Meeting to sanction the Agri Transaction having been duly passed.

ARTICLE III

Miscellaneous

     SECTION 3.01 Execution as Supplemental Indenture.

     This Supplemental Indenture is executed and upon its effectiveness shall be construed as an
indenture supplemental to the Indenture and, as provided in the Indenture, this Supplemental
Indenture shall form a part of the Indenture. Except as herein expressly otherwise defined, the
terms used herein shall have the same meaning as provided in the Indenture.

 

     Except as specifically amended above, the Indenture shall remain in full force and effect and
is hereby ratified and confirmed.

     SECTION 3.02 Responsibility for Recitals.

     The recitals herein shall be taken as statements of the Company, and the Trustee’ assumes no
responsibility for the correctness thereof.

     SECTION 3.03 Successors and Assigns.

     All the covenants and agreements in this Supplemental Indenture by the Company shall bind its
successors and assigns whether so expressed or not.

     SECTION 3.04 Governing Law.

     This Supplemental indenture and the Notes and Debentures shall be governed by, and construed
in accordance with, the laws of the State of New York.

     SECTION 3.05 Conflicts.

     In the event of a conflict between the terms and conditions of the Indenture and the terms and
conditions of this Supplemental indenture, the terms and conditions of this Supplemental Indenture
shall prevail.

     SECTION 3.06 Counterparts.

     This Supplemental Indenture may be executed in any number of counterparts, each of which shall
be an original, but such counterparts shall together constitute but one and the same instrument.

 

     IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed.

     Dated as of January 15_, 2004.

	 	 	 	 	 
	 	NORSK HYDRO ASA

 	 
	 	By:  	/s/ Ida Helliesen
 	 
	 	 	Name:  	Ida Helliesen 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	                                              /s/ Knut-Ivar Ødegard
 	 
	 	 	Name:  	Knut-Ivar Ødegard 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	Attest:

 	 
	 	By:  	/s/ Liv Bergh
 	 
	 	 	Name:  	Liv Bergh 	 
	 	 	Title:  	Manager 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Mette Aalstad
 	 
	 	 	Name:  	Mette Aalstad 	 
	 	 	Title:  	Assistant Manager 	 
	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK (FORMERLY

THE CHASE MANHATTAN BANK)

as Trustee

 	 
	 	By:  	/s/ Lesley Daley
 	 
	 	 	Name:  	Lesley Daley 	 
	 	 	Title:  	Trust Officer 	 
	 

	 	 	 	 	 
	 	Attest:

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

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