Document:

Exhibit 4.2

 

SUPPLEMENTAL INDENTURE (this “Supplemental
Indenture”), dated as of December 4, 2003, among Vought Aircraft
Industries, Inc., a Delaware corporation (the “Company”),
VAC Aircraft Industries, Inc., a Delaware corporation, Vought Commercial Aircraft
Company, a Delaware corporation and The Aerostructures Corporation, a Delaware
corporation (collectively, the “Original
Guarantors”), Contour Aerospace Corporation, a Delaware corporation
(the “Additional Guarantor” and,
together with the Original Guarantors, the “Guarantors”)
and Wells Fargo Bank Minnesota, National Association, as trustee under the
indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company and the Original Guarantors have heretofore
executed and delivered to the Trustee an indenture (the “Indenture”), dated as of July 2, 2003
providing for the issuance of an unlimited amount of 8% Senior Notes due 2011
(the “Notes”);

 

WHEREAS, Section 4.17 of the Indenture requires the Additional
Guarantor to execute and deliver to the Trustee a supplemental indenture
pursuant to which the Additional Guarantor will unconditionally guarantee all
of the Company’s Obligations (as defined in the Indenture) under the Notes and
the Indenture on the terms and conditions set forth herein (the “Subsidiary Guarantee”); and

 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the
Additional Guarantor and the Trustee mutually covenant and agree for the equal
and ratable benefit of the Holders of the Notes as follows:

 

1.                                      CAPITALIZED TERMS.  Capitalized terms used herein without
definition will have the meanings assigned to them in the Indenture.

 

2.                                      AGREEMENT
TO GUARANTEE.  The Additional Guarantor
hereby agrees as follows:

 

(a)                                     The
Additional Guarantor, jointly and severally with all other current and future
guarantors of the Notes, unconditionally guarantees to each Holder of a Note
authenticated and delivered by the Trustee and to the Trustee and its
successors and assigns, regardless of the validity and enforceability of the
Indenture, the Notes or the Obligations of the Company under the Indenture or
the Notes, that:

 

(i)                                    the
principal of, premium, interest and Liquidated Damages, if any, on the Notes
will be promptly paid in full when due, whether at maturity, by acceleration,
redemption or otherwise, and interest on the overdue principal of, premium,
interest and Liquidated Damages, if any, on the Notes, to the extent lawful,
and all other

 

 

Obligations of the Company to
the Holders or the Trustee thereunder or under the Indenture will be promptly
paid in full, all in accordance with the terms thereof; and

 

(ii)                                 in
case of any extension of time for payment or renewal of any Notes or any of
such other Obligations, that the same will be promptly paid in full when due in
accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise.

 

(b)                                    Notwithstanding
the foregoing, in the event that this Subsidiary Guarantee would constitute or
result in a violation of any applicable fraudulent conveyance or similar law of
any relevant jurisdiction, the liability of such Guarantor under this
Supplemental Indenture and its Subsidiary Guarantee will be reduced to the
maximum amount permissible under such fraudulent conveyance or similar law.

 

(c)                                     Failing
payment when due of any amount so guaranteed or any performance so guaranteed
for whatever reason, the Guarantors will be jointly and severally obligated to
pay the same immediately.  The
Additional Guarantor agrees that this is a guarantee of payment and not a
guarantee of collection.

 

3.                                      EXECUTION
AND DELIVERY OF SUBSIDIARY GUARANTEES.

 

(a)                                     To
evidence its Subsidiary Guarantee set forth in this Supplemental Indenture, the
Additional Guarantor hereby agrees that a notation of such Subsidiary Guarantee
substantially in the form of Exhibit C to the Indenture will be endorsed
by an officer of such Guarantor on each Note authenticated and delivered by the
Trustee after the date hereof.

 

(b)                                    Notwithstanding
the foregoing, the Additional Guarantor hereby agrees that its Subsidiary
Guarantee set forth herein will remain in full force and effect notwithstanding
any failure to endorse on each Note a notation of such Subsidiary Guarantee.

 

(c)                                     If
an Officer whose signature is on this Supplemental Indenture or on the
Subsidiary Guarantee no longer holds that office at the time the Trustee
authenticates the Note on which a Subsidiary Guarantee is endorsed, the
Subsidiary Guarantee will be valid nevertheless.

 

(d)                                    The
delivery of any Note by the Trustee, after the authentication thereof under the
Indenture, will constitute due delivery of the Subsidiary Guarantee set forth
in this Supplemental Indenture on behalf of the Additional Guarantor.

 

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(e)                                     The
Additional Guarantor hereby agrees that its Obligations hereunder will be
unconditional, regardless of the validity, regularity or enforceability of the
Notes or the Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Notes with respect to any provisions hereof
or thereof, the recovery of any judgment against the Company, any action to
enforce the same or any other circumstance which might otherwise constitute a
legal or equitable discharge or defense of a guarantor.

 

(f)                                       The
Additional Guarantor hereby waives diligence, presentment, demand of payment,
filing of claims with a court in the event of insolvency or bankruptcy of the
Company, any right to require a proceeding first against the Company, protest,
notice and all demands whatsoever and covenants that its Subsidiary Guarantee
made pursuant to this Supplemental Indenture will not be discharged except by
complete performance of the Obligations contained in the Notes and the
Indenture.

 

(g)                                    If
any Holder or the Trustee is required by any court or otherwise to return to
the Company or any Guarantor, or any custodian, Trustee, liquidator or other
similar official acting in relation to either the Company or such Guarantor,
any amount paid by either to the Trustee or such Holder, the Subsidiary
Guarantee made pursuant to this Supplemental Indenture, to the extent
theretofore discharged, will be reinstated in full force and effect.

 

(h)                                    The
Additional Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any Obligations guaranteed
hereby until payment in full of all Obligations guaranteed hereby.  The Additional Guarantor further agrees
that, as between such Guarantor, on the one hand, and the Holders and the Trustee,
on the other hand:

 

(i)                                    the
maturity of the Obligations guaranteed hereby may be accelerated as provided in
Article 6 of the Indenture for the purposes of the Subsidiary Guarantee made
pursuant to this Supplemental Indenture, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the Obligations
guaranteed hereby; and

 

(ii)                                 in
the event of any declaration of acceleration of such Obligations as provided in
Article 6 of the Indenture, such Obligations (whether or not due and payable)
will forthwith become due and payable by such Guarantor for the purpose of the
Subsidiary Guarantee made pursuant to this Supplemental Indenture.

 

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(i)                                        Each
Guarantor will have the right to seek contribution from any other non-paying
Guarantor so long as the exercise of such right does not impair the rights of
the Holders or the Trustee under the Subsidiary Guarantee made pursuant to this
Supplemental Indenture.

 

4.                                      GUARANTOR
MAY CONSOLIDATE, ETC. ON CERTAIN TERMS.

 

(a)                                     Except
as set forth in Articles 4 and 5 of the Indenture, nothing contained in the
Indenture, this Supplemental Indenture or in the Notes will prevent any
consolidation or merger of any Guarantor with or into the Company or any other
Guarantor or will prevent any transfer, sale or conveyance of the property of
any Guarantor as an entirety or substantially as an entirety to the Company or
any other Guarantor.

 

(b)                                    Except
as set forth in Section 10.04 of the Indenture, no Guarantor may sell or
otherwise dispose of all or substantially all of its assets to, or consolidate
with or merge with or into (whether or not such Guarantor is the surviving
Person), another Person, other than the Company or another Guarantor, unless:
(i) immediately after giving effect to such transaction, no Default or Event of
Default exists and (ii) either (A) subject to Section 10.04 of the Indenture,
the Person acquiring the property in any such sale or disposition or the Person
formed by or surviving any such consolidation or merger unconditionally assumes
all the obligations of that Guarantor, pursuant to a supplemental indenture in
form and substance reasonably satisfactory to the Trustee, under the Indenture
and the Subsidiary Guarantee on the terms set forth in the Indenture or such Subsidiary
Guarantee, as the case may be, or (B) the Net Proceeds of such sale or other
disposition are applied in accordance with the applicable provisions of the
Indenture, including without limitation, Section 4.10 thereof.

 

(c)                                     In
case of any such consolidation, merger, sale or conveyance and upon the
assumption by the successor Person, by supplemental indenture, executed and
delivered to the Trustee and satisfactory in form to the Trustee, of the
Subsidiary Guarantee made pursuant to this Supplemental Indenture and the due
and punctual performance of all of the covenants and conditions of the
Indenture and this Supplemental Indenture to be performed by such Guarantor,
such successor Person will succeed to and be substituted for such Guarantor
with the same effect as if it had been named herein as the Guarantor.  Such successor Person thereupon may cause to
be signed any or all of the Subsidiary Guarantees to be endorsed upon the Notes
issuable under the Indenture which theretofore have not been signed by the
Company and delivered to the Trustee. 
All the Subsidiary Guarantees so issued will in all respects have the
same legal rank and benefit under the Indenture and this Supplemental Indenture
as the Subsidiary Guarantees theretofore and thereafter issued in accordance

 

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with the terms of the Indenture
and this Supplemental Indenture as though all of such Subsidiary Guarantees had
been issued at the date of the execution of the Indenture.

 

5.                                      RELEASES.

 

(a)                                     In
the event of any sale or other disposition of all or substantially all of the
assets of any Guarantor, by way of merger, consolidation or otherwise, or a
sale or other disposition of all of the Capital Stock of any Guarantor, in each
case to a Person that is not (either before or after giving effect to such
transactions) a Subsidiary of the Company, then such Guarantor (in the event of
a sale or other disposition, by way of merger, consolidation or otherwise, of
all of the Capital Stock of such Guarantor) or the Person acquiring the
property (in the event of a sale or other disposition of all or substantially
all of the assets of such Guarantor) will be released and relieved of any
obligations under its Subsidiary Guarantee; provided
that the Net Proceeds of such sale or other disposition are applied in
accordance with the applicable provisions of the Indenture, including without
limitation Section 4.10 thereof.  Upon
delivery by the Company to the Trustee of an Officers’ Certificate and an
Opinion of Counsel to the effect that such sale or other disposition was made
by the Company in accordance with the provisions of the Indenture, including
without limitation Section 4.10 thereof, the Trustee will execute any documents
reasonably required in order to evidence the release of any Guarantor from its
obligations under its Subsidiary Guarantee. 
Any Guarantor not released from its obligations under its Subsidiary
Guarantee will remain liable for the full amount of principal of and interest
on the Notes and for the other obligations of any Guarantor under the Indenture
as provided in Article 10 thereof.

 

(b)                                    Upon
the designation of a Guarantor as an Unrestricted Subsidiary in accordance with
the terms of the Indenture, such Guarantor will be released and relieved of its
Obligations under its Subsidiary Guarantee and this Supplemental
Indenture.  Upon delivery by the Company
to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the
effect that such designation of such Guarantor as an Unrestricted Subsidiary
was made by the Company in accordance with the provisions of the Indenture,
including without limitation Section 4.07 of the Indenture, the Trustee will
execute any documents reasonably required in order to evidence the release of
such Guarantor from its Obligations under its Subsidiary Guarantee.  Any Guarantor not released from its
Obligations under its Subsidiary Guarantee will remain liable for the full
amount of principal of and interest on the Notes and for the other Obligations
of any Guarantor under the Indenture as provided in Article 10 thereof.

 

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(c)                                     Each
Guarantor will be released and relieved of its obligations under this
Supplemental Indenture in accordance with, and subject to, Article 8 of the
Indenture.

 

6.                                      NO
RECOURSE AGAINST OTHERS.  No past,
present or future director, officer, employee, incorporator, stockholder or
agent of any Guarantor, as such, will have any liability for any Obligations of
the Company or any Guarantor under the Notes, any Subsidiary Guarantees, the
Indenture or this Supplemental Indenture or for any claim based on, in respect
of, or by reason of, such Obligations or their creation.  Each Holder of the Notes by accepting a Note
waives and releases all such liability. 
The waiver and release are part of the consideration for issuance of the
Notes.  Such waiver may not be effective
to waive liabilities under the federal securities laws and it is the view of
the SEC that such a waiver is against public policy.

 

7.                                      NEW
YORK LAW TO GOVERN.  THIS SUPPLEMENTAL
INDENTURE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

8.                                      COUNTERPARTS.  The parties may sign any number of copies of
this Supplemental Indenture.  Each
signed copy will be an original, but all of them together represent the same
agreement.

 

9.                                      EFFECTS
OF HEADINGS.  The Section headings
herein are for convenience only and will not affect the construction hereof.

 

10.                                THE
TRUSTEE.  The Trustee will not be
responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals
contained herein, all of which recitals are made solely by the Guarantors and
the Company.

 

6

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed and attested, all as of the date first above
written.

 

 

	
  Dated:  December 4, 2003

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Company:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  VOUGHT AIRCRAFT INDUSTRIES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  
	
   

  	
   

  	
  Name:

  	
  Cletus Glasener

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
					

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Guarantors:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  VAC INDUSTRIES, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  
	
   

  	
   

  	
  Name:

  	
  Cletus Glasener

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  VOUGHT COMMERCIAL AIRCRAFT

  COMPANY

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener, Jr.

  
	
   

  	
   

  	
  Name:

  	
  Cletus Glasener

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
					

 

 

7

 

	
   

  	
  THE AEROSTRUCTURES CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  
	
   

  	
   

  	
  Name:

  	
  Cletus Glasener

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CONTOUR AEROSPACE CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  
	
   

  	
   

  	
  Name:

  	
  Cletus Glasener

  
	
   

  	
   

  	
  Title:

  	
  Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Trustee:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  WELLS FARGO BANK MINNESOTA,

  	
   

  	
   

  	
   

  
	
  NATIONAL
  ASSOCIATION, as Trustee

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Joseph P. O’Donnell

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Joseph P. O’Donnell

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  Corporate Trust Officer

  	
   

  	
   

  	
   

  
							

 

8Exhibit 4.5

 

EXECUTION COPY

 

REGISTRATION RIGHTS AGREEMENT

 

Dated as of July 2, 2003

 

by and among

 

Vought Aircraft Industries, Inc.

 

as the Company

 

VAC Industries, Inc.

Vought Commercial Aircraft Company

The Aerostructures Corporation

 

as the Guarantors

 

and

 

Lehman Brothers Inc.

Goldman, Sachs & Co.

Credit Suisse First Boston LLC

 

as the Initial Purchasers

 

 

This Registration Rights Agreement (this “Agreement”) is dated as of July 2,
2003, by and among Vought Aircraft Industries, Inc., a Delaware corporation
(the “Company”),
the subsidiaries listed on Schedule A attached hereto (the “Guarantor”), and Lehman Brothers Inc.,
Goldman, Sachs & Co. and Credit Suisse First Boston LLC (each an “Initial Purchaser”
and, collectively, the “Initial
Purchasers”), each of whom has agreed to purchase the Company’s
8% Senior Notes due 2011 (the “Notes”) pursuant to the Purchase Agreement (as defined
below).

 

This Agreement is made pursuant to the Purchase Agreement, dated
June 27, 2003 (the “Purchase
Agreement”), by and among the Company, the Guarantors and the
Initial Purchasers.  In order to induce
the Initial Purchasers to purchase the Notes, the Company and the Guarantors
have agreed to provide the registration rights set forth in this
Agreement.  The execution and delivery
of this Agreement is a condition to the obligations of the Initial Purchasers
set forth in Section 7 of the Purchase Agreement.  Capitalized terms used herein and not
otherwise defined shall have the meanings assigned to them in the Indenture,
dated the date hereof (the “Indenture”), among the Company, the Guarantors and Wells
Fargo Bank Minnesota, National Association, as Trustee (the “Trustee”), relating
to the Notes and the Exchange Notes (as defined below).

 

The parties hereby agree as follows:

 

SECTION 1.         DEFINITIONS

 

As used in this Agreement, the following capitalized terms shall have
the following meanings:

 

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

 

Affiliate:  As defined in Rule 144 of the Act.

 

Blackout Period:  As defined in Section 5 hereof.

 

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

 

Certificated
Securities: 
Definitive Notes, as defined in the Indenture.

 

Closing Date:  The date of this Agreement.

 

Commission:  The U.S. Securities and Exchange Commission.

 

Consummate:  An Exchange Offer shall be deemed
“Consummated” for purposes of this Agreement upon the occurrence of (a) the
filing and effectiveness under the Act of the Exchange Offer Registration
Statement relating to the Exchange Notes to be issued in the Exchange Offer,
(b) the maintenance of such Exchange Offer Registration Statement continuously
effective and the keeping of the Exchange Offer open for a period not less than
the period required pursuant to Section 3(b) hereof and (c) the delivery
by the Company to the Registrar under the Indenture of Exchange Notes in the
same aggregate principal amount as the

 

1

 

aggregate principal amount of Notes tendered by Holders thereof
pursuant to the Exchange Offer.

 

Consummation
Deadline: 
As defined in Section 3(b) hereof.

 

Effectiveness
Deadline: 
As defined in Section 3(a) and 4(a) hereof.

 

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

 

Exchange Notes:  The Company’s 8% Senior Notes due 2011,
registered under the Act, to be issued pursuant to the Indenture (a) in the
Exchange Offer or (b) as contemplated by Section 4 hereof.

 

Exchange Offer:  The exchange and issuance by the Company of
a principal amount of Exchange Notes (which shall be registered pursuant to the
Exchange Offer Registration Statement) equal to the outstanding principal
amount of Notes that are tendered by such Holders in connection with such
exchange and issuance.

 

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

 

Exempt Resales:  The transactions in which the Initial
Purchasers propose to sell the Notes to certain “qualified institutional
buyers,” as such term is defined in Rule 144A under the Act, and pursuant to
Regulation S under the Act.

 

Filing Deadline:  As defined in Sections 3(a) and 4(a) hereof.

 

Holders:  As defined in Section 2 hereof.

 

Interest Payment
Date:  As
defined in the Notes and the Exchange Notes.

 

Person:  As defined in the Indenture.

 

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

 

Recommencement Date:  As defined in Section 6(e) hereof.

 

Registration
Default: 
As defined in Section 5 hereof.

 

Registration
Statement: 
Any registration statement of the Company and the Guarantors relating to
(a) an offering of Exchange Notes and related Subsidiary Guarantees pursuant to
an Exchange Offer or (b) the registration for resale of Transfer Restricted
Securities pursuant to the Shelf Registration Statement, in each case (i) that
is filed pursuant to the provisions of this Agreement and (ii) including the
Prospectus included therein, all amendments

 

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and supplements thereto (including post-effective amendments) and all
exhibits and material incorporated by reference therein.

 

Regulation 5:  Regulation S promulgated under the Act.

 

Rule 144:  Rule 144 promulgated under the Act.

 

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

 

Subsidiary
Guarantees: 
The guarantees of the Notes and Exchange Notes of the Guarantors under
the Indenture, as amended from time to time.

 

Suspension Notice:  As defined in Section 6(e) hereof.

 

TA Acquisition
Holdings: 
As defined in the Purchase Agreement.

 

TIA:  The U.S. Trust Indenture Act of 1939 (15
U.S.C. Section 77aaa-77bbbb) as in effect on the date of the Indenture.

 

Transfer Restricted
Securities: 
(a) Each Note, and the related Subsidiary Guarantees, until the earliest
to occur of (i) the date on which such Note has been exchanged by a Person
other than a Broker-Dealer for an Exchange Note in the Exchange Offer and
entitled to be resold to the public by such Person without complying with the
prospectus delivery requirements of the Act, (ii) the date on which such Note
has been effectively registered under the Act and disposed of in accordance
with the Shelf Registration Statement, or (iii) the date on which such Note is
eligible to be distributed to the public pursuant to Rule 144(k) under the Act,
and (b) each Exchange Note and the related Subsidiary Guarantees acquired by a
Broker-Dealer in the Exchange Offer of a Note for such Exchange Note, until the
date on which such Exchange Note is sold to a purchaser who receives from such
Broker-Dealer on or prior to the date of such sale a copy of the Prospectus
contained in the Exchange Offer Registration Statement.

 

SECTION 2.         HOLDERS

 

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

 

SECTION 3.         REGISTERED
EXCHANGE OFFER

 

(a)           Unless the Exchange Offer shall not be permitted by
applicable federal law (after the procedures set forth in Section 6(a)(i)
below have been complied with), the Company and the Guarantors shall (i) cause
the Exchange Offer Registration Statement to be filed with the Commission as
soon as practicable after the Closing Date, but in no event later than 300 days
after the Closing Date (such 300th day being the “Filing Deadline”), (ii) use their commercially
reasonable efforts to cause such Exchange Offer Registration Statement to
become effective at the earliest possible time, but in no event later than 365
days after the Closing Date (such 365th day being the “Effectiveness Deadline”),
(iii) in connection with the foregoing, (A) file all pre-effective
amendments to such Exchange Offer Registration Statement as may be necessary in
order to cause it to become effective, (B) file, if applicable, a
post-effective

 

3

 

amendment
to such Exchange Offer Registration Statement pursuant to Rule 430A under the
Act and (C) cause all necessary filings, if any, in connection with the
registration and qualification of the Exchange Notes to be made under the Blue
Sky laws of such jurisdictions as are necessary to permit Consummation of the
Exchange Offer, and (iv) upon the effectiveness of such Exchange Offer
Registration Statement, commence and Consummate the Exchange Offer.  The Exchange Offer shall be on the appropriate
form permitting (I) registration of the Exchange Notes to be offered in
exchange for the Notes that are Transfer Restricted Securities and (II) resales
of Exchange Notes by Broker-Dealers that tendered into the Exchange Offer Notes
that such Broker-Dealer acquired for its own account as a result of market
making activities or other trading activities (other than Notes acquired
directly from the Company or any its Affiliates) as contemplated by
Section 3(c) below.

 

(b)           The Company and the Guarantors shall use their
commercially reasonable efforts to cause the Exchange Offer Registration
Statement to be effective continuously, and shall keep the Exchange Offer open
for a period of not less than the minimum period required under applicable
federal and state securities laws to Consummate the Exchange Offer; provided, however,
that in no event shall such period be less than 20 business days.  The Company and the Guarantors shall cause
the Exchange Offer to comply with all applicable federal and state securities
laws.  No securities other than the
Exchange Notes shall be included in the Exchange Offer Registration
Statement.  The Company and the
Guarantors shall use their reasonable best efforts to cause the Exchange Offer
to be Consummated on or prior to 30 business days, or longer, if required by
the federal securities laws, after the Exchange Offer Registration Statement
has become effective (the “Consummation Deadline”).

 

(c)           The Company and the Guarantors shall include a “Plan
of Distribution” section in the Prospectus contained in the Exchange Offer
Registration Statement and indicate therein that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for the account of such
Broker-Dealer as a result of market-making activities or other trading
activities (other than Notes acquired directly from the Company or any
Affiliate of the Company), may exchange such Transfer Restricted Securities
pursuant to the Exchange Offer.  Such
“Plan of Distribution” section shall also contain all other information
with respect to such sales by such Broker-Dealers that the Commission may
require in order to permit such sales pursuant thereto, but such “Plan of
Distribution” shall not name any such Broker-Dealer or disclose the amount of
Transfer Restricted Securities held by any such Broker-Dealer, except to the
extent required by the Commission as a result of a change in policy, rules or
regulations after the date of this Agreement.

 

Because such Broker-Dealer may be deemed to be an “underwriter” within
the meaning of the Act and must, therefore, deliver a prospectus meeting the
requirements of the Act in connection with its initial sale of any Exchange
Notes received by such Broker-Dealer in the Exchange Offer, the Company and the
Guarantors shall permit the use of the Prospectus contained in the Exchange
Offer Registration Statement by such Broker-Dealer to satisfy such prospectus
delivery requirement.  To the extent
necessary to ensure that the prospectus contained in the Exchange Offer
Registration Statement is available for sales of Exchange Notes by
Broker-Dealers, the Company and the Guarantors agree to use their commercially
reasonable efforts to keep the Exchange Offer Registration Statement
continuously effective, supplemented, amended and current as required by and
subject to the provisions of Section 6(a) and (c) hereof

 

4

 

and in conformity with the requirements of this Agreement, the Act and
the policies, rules and regulations of the Commission as announced from time to
time, for a period of one year from the date on which the Exchange Offer
Registration Statement is declared effective or such shorter period as will
terminate when all Transfer Restricted Securities covered by such Registration Statement
have been sold pursuant thereto.  The
Company shall provide sufficient copies of the latest version of such
Prospectus to such Broker-Dealers, promptly upon request at any time during
such one-year period in order to facilitate resales.

 

SECTION 4.         SHELF
REGISTRATION

 

(a)           Shelf Registration.  If (i) the
Company and the Guarantors are not (A) required to file the Exchange Offer
Registration Statement or (B) the Exchange Offer is not permitted by applicable
law or Commission policy (after the Company and the Guarantors have complied
with the procedures set forth in Section 6(a)(i) hereof) or (ii) if any
Holder of Transfer Restricted Securities shall notify the Company prior to the
20th business day following the Consummation of the Exchange Offer that (x)
such Holder was prohibited by applicable law or Commission policy from
participating in the Exchange Offer or (y) such Holder may not resell the
Exchange Notes acquired by it in the Exchange Offer to the public without
delivering a prospectus and the Prospectus contained in the Exchange Offer
Registration Statement is not appropriate or available for such resales by such
Holder or (z) such Holder is a Broker-Dealer and holds Notes acquired directly
from the Company or any of its Affiliates, then the Company and the Guarantors
shall:

 

(I)            cause
to be filed after the earlier of (x) the date on which the Company determines
that the Exchange Offer Registration Statement cannot be filed as a result of
clause (a)(i) of this Section and (y) the date on which the Company
receives the notice specified in clause (a)(ii) of this Section (such
earlier date, the “Filing Deadline”),
a shelf registration statement pursuant to Rule 415 under the Act (which may be
an amendment to the Exchange Offer Registration Statement (the “Shelf Registration Statement”)),
relating to all Transfer Restricted Securities; and

 

(II)           use
their commercially reasonable efforts to cause such Shelf Registration
Statement to become effective at the earliest possible time, but in no event
later than on or prior to the later of (A) 365 days after the Closing Date or
(B) 90 days after the Filing Deadline for the Shelf Registration Statement
(such later date, the “Effectiveness Deadline”).

 

If, after the Company and the Guarantors have filed an Exchange Offer
Registration Statement that satisfies the requirements of Section 3(a)
above, the Company and the Guarantors are required to file and make effective a
Shelf Registration Statement solely because the Exchange Offer is not permitted
under applicable federal law (i.e.,
clause (a)(i) of this Section), then the filing of the Exchange Offer
Registration Statement shall be deemed to satisfy the requirements of clause
(I) above; provided that, in such
event, the Company and the Guarantors shall remain obligated to meet the
Effectiveness Deadline set forth in clause (II) above.

 

To the extent necessary to ensure that the Shelf Registration Statement
is available for sales of Transfer Restricted Securities by the Holders thereof
entitled to the benefit

 

5

 

of this Section 4(a) and the other securities required to be
registered therein pursuant to Section 6(b)(ii) hereof, the Company and
the Guarantors shall use their commercially reasonable efforts to keep any Shelf
Registration Statement required by this Section 4(a) continuously
effective, supplemented, amended and current as required by and subject to the
provisions of Sections 6(b) and (c) hereof and in conformity with the
requirements of this Agreement, the Act and the policies, rules and regulations
of the Commission as announced from time to time, for a period of at least two
years (as extended pursuant to Section 6(c)(i) hereof) following the
Closing Date, or such shorter period as will terminate when all Transfer
Restricted Securities covered by such Shelf Registration Statement have been
sold pursuant thereto.

 

(b)           Provision by Holders of Certain Information in
Connection with the Shelf Registration Statement. 
No Holder of Transfer Restricted Securities may include any of its
Transfer Restricted Securities in any Shelf Registration Statement pursuant to
this Agreement unless and until such Holder furnishes to the Company in
writing, within 20 days after receipt of a request therefor, such information as
the Company may reasonably request in connection with any Shelf Registration
Statement or Prospectus or preliminary Prospectus included therein, including,
but not limited to, the information specified in Item 507 or 508 of Regulation
S-K, as applicable, of the Act for use in connection with any Shelf
Registration Statement or Prospectus or preliminary Prospectus included
therein.  No Holder of Transfer
Restricted Securities shall be entitled to liquidated damages pursuant to
Section 5 hereof unless and until such Holder shall have provided all such
information.  By its acceptance of
Transfer Restricted Securities, each Holder agrees to promptly furnish
additional information required to be disclosed in order to make the
information previously furnished to the Company by such Holder not materially
misleading.

 

SECTION 5.         LIQUIDATED
DAMAGES

 

If (a) any Registration Statement required by this Agreement is not
filed with the Commission on or prior to the applicable Filing Deadline, (b)
any such Registration Statement has not been declared effective by the
Commission on or prior to the applicable Effectiveness Deadline, (c) the
Exchange Offer has not been Consummated on or prior to the Consummation
Deadline or (d) any Registration Statement required by this Agreement is filed
and declared effective but shall thereafter cease to be effective or fail to be
usable for its intended purpose without being succeeded within two business
days by a post-effective amendment to such Registration Statement that cures
such failure and that is itself declared effective within five business days of
filing such post-effective amendment to such Registration Statement, except in
the case of this clause (d) under the circumstances set forth in the following
paragraph (each such event referred to in clauses (a) through (d), a “Registration Default”); then the
Company and the Guarantors hereby jointly and severally agree to pay to each
Holder of Transfer Restricted Securities affected thereby liquidated damages in
the form of an increase in the interest rate borne by the Transfer Restricted
Securities equal to 1.0% per annum, until all Registration Defaults have been
cured; provided that the Company
and the Guarantors shall in no event be required to pay liquidated damages for
more than one Registration Default at any given time.  Notwithstanding anything to the contrary set forth herein, (i)
upon filing of the Exchange Offer Registration Statement (and/or, if
applicable, the Shelf Registration Statement), in the case of (a) above, (ii)
upon the effectiveness of the Exchange Offer Registration Statement (and/or, if
applicable, the Shelf Registration Statement), in the case of (b) above, (iii)
upon Consummation

 

6

 

of the Exchange Offer, in the case of (c) above, or (iv) upon the
filing of a post-effective amendment to the Registration Statement or an
additional Registration Statement that causes the Exchange Offer Registration
Statement (and/or, if applicable, the Shelf Registration Statement) to again be
declared effective or made usable, in the ease of (d) above, the liquidated
damages payable with respect to the Transfer Restricted Securities as a result
of such clause (a), (b), (c) or (d), as applicable, shall cease.

 

A Registration Default referred to in clause (d) above shall be deemed
not to have occurred and be continuing in respect of a Registration Statement
or the related Prospectus if (A) such period of time during which any
Registration Statement is not effective or any such Registration Statement or
the related Prospectus is not useable (the “Blackout Period”)
occurred solely as a result of (x) the filing of a post-effective amendment to
such Registration Statement to incorporate annual audited financial information
with respect to the Company and the Guarantors where such post-effective
amendment is not yet effective and needs to be declared effective to permit
Holders to use the related Prospectus or (y) the occurrence of other material
events with respect to the Company and the Guarantors that would need to be
described in such Registration Statement or the related Prospectus and (B) in
the case of clause (y), the Company and the Guarantors are proceeding promptly
and in good faith to amend or supplement (including by way of filing documents
under the Exchange Act which are incorporated by reference into the
Registration Statement) such Registration Statement and the related Prospectus
to describe such events; provided,
however, that in the event a
Blackout Period occurs for a continuous period in excess of 30 days, a
Registration Default shall be deemed to have occurred on the 31st day of such
Blackout Period and liquidated damages shall be payable in accordance with the
above paragraph from the day such Registration Default occurs until such
Registration Default is cured or until the Company and the Guarantors are no
longer required pursuant to this Agreement to keep such Registration Statement
effective or such Registration Statement or the related Prospectus usable; provided, further,
that in no event shall the total of all Blackout Periods exceed 45 days in the
aggregate for any 12-month period.

 

All accrued liquidated damages shall be paid to the Holders entitled
thereto, in the manner provided for the payment of interest in the Indenture,
on each Interest Payment Date, as more fully set forth in the Indenture and the
Notes and the Exchange Notes. 
Notwithstanding the fact that any securities for which liquidated
damages are due cease to be Transfer Restricted Securities, all obligations of
the Company and the Guarantors to pay liquidated damages with respect to
securities shall survive until such time as such obligations with respect to
such securities shall have been satisfied in full.

 

SECTION 6.         REGISTRATION
PROCEDURES

 

(a)           Exchange Offer Registration Statement. 
In connection with the Exchange Offer, the Company and the Guarantors
shall (i) comply with all applicable provisions of Section 6(c) below,
(ii) use their commercially reasonable efforts to effect such exchange and to permit
the resale of Exchange Notes by any Broker-Dealer that tendered Notes in the
Exchange Offer that such Broker-Dealer acquired for its own account as a result
of its market making activities or other trading activities (other than Notes
acquired directly from the Company or any of its Affiliates) being sold in
accordance with the intended method or methods of distribution thereof, and
(iii) comply with all of the following provisions:

 

7

 

(A)          If, following the date hereof there has been announced
a change in Commission policy with respect to exchange offers such as the
Exchange Offer, that in the reasonable opinion of counsel to the Company raises
a question as to whether the Exchange Offer is permitted by applicable federal
law, the Company and the Guarantors hereby agree to seek a no-action letter or
other favorable decision from the Commission allowing the Company and the
Guarantors to Consummate an Exchange Offer for such Transfer Restricted
Securities.  The Company and the
Guarantors hereby agree to pursue the issuance of such a decision to the
Commission staff level, but shall not be required to take commercially
unreasonable action to effect a change of Commission policy.  Notwithstanding the foregoing, the Company
and the Guarantors hereby agree to take all such other actions as may be
requested by the Commission or otherwise required in connection with the
issuance of such decision, including without limitation (I) participating in
telephonic conferences with the Commission staff, (II) delivering to the
Commission staff an analysis prepared by counsel to the Company setting forth
the legal bases, if any, upon which such counsel has concluded that such an
Exchange Offer should be permitted and (III) diligently pursuing a resolution
(which need not be favorable) by the Commission staff.

 

(B)           As a condition to its participation in the Exchange
Offer, each Holder of Transfer Restricted Securities (including, without
limitation, any Holder who is a Broker-Dealer) shall furnish, upon the request
of the Company, prior to the Consummation of the Exchange Offer, a written
representation to the Company and the Guarantors (which may be contained in the
letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (I) it is not an Affiliate of the Company, (II)
it is not engaged in, and does not intend to engage in, and has no arrangement
or understanding with any person to participate in, a distribution of the
Exchange Notes to be issued in the Exchange Offer, (III) it is acquiring the
Exchange Notes in its ordinary course of business and (IV) if such Holder is a
Broker-Dealer, that it will receive Exchange Notes for its own account in
exchange for Notes that were acquired as a result of market-making activities
or other trading activities and that it will deliver a Prospectus in connection
with any resale of such Exchange Notes. 
Each Holder shall be required to make such other representations as may
be reasonably necessary under applicable Commission rules, regulations or
interpretations to render the use of Form S-4 or another appropriate form under
the Act available and will be required to agree to comply with their agreements
and covenants set forth in this Agreement. 
Each Holder using the Exchange Offer to participate in a distribution of
the Exchange Notes will be required to acknowledge and agree that, if the
resales are of Exchange Notes obtained by such Holder in exchange for Notes
acquired directly from the Company or an Affiliate thereof, it (1) could not,
under Commission policy as in effect on the date of this Agreement, rely on the
position of the Commission enunciated in Morgan Stanley and Co., Inc.
(available June 5, 1991) and Exxon Capital Holdings Corporation (available
May 13, 1988), as interpreted in the Commission’s letter to Shearman &
Sterling dated July 2, 1993, and similar no-action letters (including,
if applicable, any no-action letter obtained pursuant to clause (A) above), and
(2) must comply with the registration and prospectus delivery requirements of
the Act in connection with a secondary resale transaction and that such a
secondary resale transaction must be covered by an effective Registration
Statement containing the selling

 

8

 

security holder information required by Item
507 or 508, as applicable, of Regulation S-K.

 

(C)           Prior to effectiveness of the Exchange Offer
Registration Statement, the Company and the Guarantors shall provide a
supplemental letter to the Commission (I) stating that the Company and the
Guarantors are registering the Exchange Offer in reliance on the position of
the Commission enunciated in Exxon Capital Holdings Corporation
(available May 13, 1988), Morgan Stanley and Co., Inc. (available
June 5, 1991) as interpreted in the Commission’s letter to Shearman
& Sterling dated July 2, 1993, and, if applicable, any no-action
letter obtained pursuant to clause (A) above, (II) including a representation
that neither the Company nor any Guarantor has entered into any arrangement or
understanding with any Person to distribute the Exchange Notes to be received
in the Exchange Offer and that, to the best of the Company’s and each
Guarantor’s information and belief, each Holder participating in the Exchange
Offer is acquiring the Exchange Notes in its ordinary course of business and
has no arrangement or understanding with any Person to participate in the
distribution of the Exchange Notes received in the Exchange Offer and (III) any
other undertaking or representation required by the Commission as set forth in
any no-action letter obtained pursuant to clause (A) above, if applicable.

 

(b)           Shelf Registration Statement. 
In connection with the Shelf Registration Statement, the Company and the
Guarantors shall:

 

(i)            comply with all the provisions of Section 6(c)
and (d) below and use their commercially reasonable efforts to effect such
registration to permit the sale of the Transfer Restricted Securities being
sold in accordance with the intended method or methods of distribution thereof
(as indicated in the information furnished to the Company pursuant to
Section 4(b) hereof), and pursuant thereto the Company and the Guarantors
will prepare and file with the Commission a Registration Statement relating to
the registration on any appropriate form under the Act, which form shall be
available for the sale of the Transfer Restricted Securities in accordance with
the intended method or methods of distribution thereof within the time periods
and otherwise in accordance with the provisions hereof; and

 

(ii)           issue, upon the request of any Holder or purchaser of
Notes covered by any Shelf Registration Statement contemplated by this
Agreement, Exchange Notes having an aggregate principal amount equal to the aggregate
principal amount of Notes sold pursuant to the Shelf Registration Statement and
surrendered to the Company for cancellation; the Company and the Guarantors
shall register Exchange Notes and the related Subsidiary Guarantees on the
Shelf Registration Statement for this purpose and issue the Exchange Notes to
the purchaser(s) of securities subject to the Shelf Registration Statement in
the names as such purchaser(s) shall designate.

 

(c)           General Provisions.  In
connection with any Registration Statement and any related Prospectus required
by this Agreement, the Company and the Guarantors shall:

 

(i)            use their commercially reasonable efforts to keep such
Registration Statement continuously effective and provide all requisite
financial statements for the period

 

9

 

specified
in Section 3 or 4 hereof, as applicable. 
Upon the occurrence of any event that would cause any such Registration
Statement or the Prospectus contained therein (A) to contain an untrue
statement of material fact or omit to state any material fact necessary to make
the statements therein not misleading or (B) not to be effective and usable for
resale of Transfer Restricted Securities during the period required by this
Agreement, the Company and the Guarantors shall file promptly an appropriate
amendment to such Registration Statement curing such defect, and, if Commission
review is required, use their commercially reasonable efforts to cause such
amendment to be declared effective as soon as practicable.  If at any time the Commission shall issue
any stop order suspending the effectiveness of any Registration Statement, or
any state securities commission or other regulatory authority shall issue an order
suspending the qualification or exemption from qualification of the Transfer
Restricted Securities under state securities or Blue Sky laws, the Company and
the Guarantors shall use their commercially reasonable efforts to obtain the
withdrawal or lifting of such order at the earliest possible time;

 

(ii)           use their commercially reasonable efforts to prepare
and file with the Commission such amendments and post-effective amendments to
the applicable Registration Statement as may be necessary to keep such
Registration Statement effective for the applicable period set forth in
Section 3 or 4 hereof, as the case may be; cause the Prospectus to be
supplemented by any required Prospectus supplement, and as so supplemented to
be filed pursuant to Rule 424 under the Act, and to comply fully with Rules
424, 430A and 462, as applicable, under the Act in a timely manner, and comply
with the provisions of the Act with respect to the disposition of all
securities covered by such Registration Statement during the applicable period
in accordance with the intended method or methods of distribution by the
sellers thereof set forth in such Registration Statement or supplement to the
Prospectus;

 

(iii)          in connection with any sale of Transfer Restricted
Securities that will result in such securities no longer being Transfer
Restricted Securities, cooperate with the Holders to facilitate the timely
preparation and delivery of certificates representing Transfer Restricted
Securities to be sold and not bearing any restrictive legends; and enable such
Transfer Restricted Securities to be registered in such denominations and such
names as the selling Holders may request at least two business days prior to
such sale of Transfer Restricted Securities;

 

(iv)          use their commercially reasonable efforts to cause the
disposition of the Transfer Restricted Securities covered by the Registration
Statement to be registered with or approved by such other governmental agencies
or authorities as may be necessary to enable the seller or sellers thereof to
consummate the disposition of such Transfer Restricted Securities; provided, however,
that neither the Company nor any Guarantor shall be required to register or
qualify as a foreign corporation where it is not now so qualified or to take
any action that would subject it to the service of process in suits or to
taxation, other than as to matters and transactions relating to the
Registration Statement, in any jurisdiction where it is not now so subject;

 

(v)           provide a CUSIP number for all Transfer Restricted
Securities not later than the effective date of a Registration Statement
covering such Transfer Restricted Securities and provide the Trustee under the
Indenture with certificates for the Transfer

 

10

 

Restricted
Securities which are in a form eligible for deposit with The Depository Trust
Company;

 

(vi)          otherwise use their commercially reasonable efforts to
comply with all applicable rules and regulations of the Commission, and make
generally available to its security holders with regard to any applicable
Registration Statement, as soon as practicable, a consolidated earnings
statement meeting the requirements of Rule 158 (which need not be audited)
covering a twelve-month period beginning with the first month of the Company’s
first fiscal quarter commencing after the effective date of the Registration
Statement (as such term is defined in paragraph (c) of Rule 158 under the Act);
and

 

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

 

(d)           Additional Provisions Applicable to Shelf Registration
Statements and Certain Exchange Offer Prospectuses. 
In connection with (i) each Shelf Registration Statement, and (2) each
Exchange Offer Registration Statement if and to the extent that an Initial
Purchaser has notified the Company that it is a holder of Exchange Notes that
are Transfer Restricted Securities (for so long as such Exchange Notes are
Transfer Restricted Securities or for the period provided in Section 3
hereof, whichever is shorter); the Company and the Guarantors shall:

 

(i)            advise each Holder promptly and, if requested by such
Holder, confirm such advice in writing, (A) when the Prospectus or any Prospectus
supplement or post-effective amendment has been filed, and, with respect to any
applicable Registration Statement or any post-effective amendment thereto, when
the same has become effective, (B) of any request by the Commission for
amendments to the Registration Statement or amendments or supplements to the
Prospectus or for additional information relating thereto, (C) of the
issuance by the Commission of any stop order suspending the effectiveness of
the Registration Statement under the Act or of the suspension by any state
securities commission of the qualification of the Transfer Restricted
Securities for offering or sale in any jurisdiction, or the initiation of any
proceeding for any of the preceding purposes, (D) of the existence of any fact
or the happening of any event that makes any statement of a material fact made
in the Registration Statement, the Prospectus, any amendment or supplement
thereto or any document incorporated by reference therein untrue, or that
requires the making of any additions to or changes in the Registration
Statement in order to make the statements therein not misleading, or that
requires the making of any additions to or changes in the Prospectus in order
to make the statements therein, in the light of the circumstances under which
they were made, not misleading;

 

(ii)           if any fact or event contemplated by
Section 6(d)(i)(D) above shall exist or have occurred, use their
commercially reasonable efforts to prepare a supplement or

 

11

 

post-effective
amendment to the Registration Statement or related Prospectus or any document
incorporated therein by reference or file any other required document so that,
as thereafter delivered to the purchasers of Transfer Restricted Securities,
the Prospectus will not contain an untrue statement of a material fact or omit
to state any material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading;

 

(iii)          furnish to each Holder in connection with such
exchange or sale, if any (or, in connection with any Exchange Offer
Registration Statement, furnish to counsel for the Initial Purchasers), before
filing with the Commission, copies of any Registration Statement or any
Prospectus included therein (except the Prospectus included in the Exchange
Offer Registration Statement at the time it was declared effective) or any
amendments or supplements to any such Registration Statement or Prospectus (but
excluding any documents incorporated by reference as a result of the Company’s
or the Guarantors’ periodic reporting requirements under the Exchange Act),
which documents will be subject to the review and comment of such Holders (and
counsel, as the case may be) in connection with such sale, if any, for a period
of at least four business days, and the Company will not file any such
Registration Statement or Prospectus or any amendment or supplement to any such
Registration Statement or Prospectus (excluding all such documents incorporated
by reference as a result of the Company’s or the Guarantors’ periodic reporting
requirements under the Exchange Act) to which such Holders (or counsel, as the
case may be) shall reasonably object within five business days after the
receipt thereof.  A Holder shall be
deemed to have reasonably objected to such filing if such Registration
Statement, amendment, Prospectus or supplement, as applicable, as proposed to
be filed, contains an untrue statement of a material fact or omits to state any
material fact necessary to make the statements therein not misleading or fails
to comply with the applicable requirements of the Act;

 

(iv)          prior to the filing of any document that is to be
incorporated by reference into a Registration Statement or Prospectus, provide
copies of such document to each Holder (or, in connection with any Exchange
Offer Registration Statement, furnish to counsel for the Initial Purchasers) in
connection with such exchange or sale, if any, make the Company’s and the
Guarantors’ representatives available for discussion of such document and other
customary due diligence matters, and include such information in such document
prior to the filing thereof as such Holders (and counsel, as the case may be)
may reasonably request;

 

(v)           make available, at reasonable times, for inspection by
each Holder in connection with any Shelf Registration Statement and any
attorney or accountant retained by such Holders in connection with any Shelf
Registration Statement or Exchange Offer Registration Statement, all relevant
financial and other records, pertinent corporate documents of the Company and
the Guarantors and cause the Company’s and the Guarantors’ officers, directors
and employees to supply all information reasonably requested by any such
Holder, attorney or accountant in connection with such Registration Statement
or any post-effective amendment thereto subsequent to the filing thereof and
prior to its effectiveness; provided,
however, that the foregoing
inspection and information gathering (A) shall be coordinated on behalf of the
selling Holders, underwriters or any representative thereof by one counsel, who
shall be Milbank, Tweed, Hadley & McCloy LLP or such other counsel as may
be chosen by the Holders of a majority in principal amount of Transfer Restricted
Securities, and (B) shall not be available to any such Holder who does not
agree to hold such information in confidence;

 

12

 

(vi)          if requested by any Holders (or, in connection with
any Exchange Offer Registration Statement, the Initial Purchasers and their
counsel) in connection with such exchange or sale, use their commercially
reasonable efforts to include promptly in any Registration Statement or
Prospectus, pursuant to a supplement or post-effective amendment if necessary,
such information as such Holders may reasonably request to have included
therein, including, without limitation, information relating to the “Plan of
Distribution” of the Transfer Restricted Securities; and make all required
filings of such Prospectus supplement or post-effective amendment as soon as
practicable after the Company is notified of the matters to be included in such
Prospectus supplement or post-effective amendment;

 

(vii)         furnish to each Holder (or, in connection with any
Exchange Offer Registration Statement, counsel for the Initial Purchasers) in
connection with such exchange or sale without charge, at least one copy of the
Registration Statement, as first filed with the Commission, and of each
amendment thereto, and upon request all documents incorporated by reference
therein and all exhibits (including exhibits incorporated therein by
reference);

 

(viii)        deliver to each Holder (or, in connection with any
Exchange Offer Registration Statement, the Initial Purchasers and their
counsel) without charge, as many copies of the Prospectus (including each
preliminary prospectus) and any amendment or supplement thereto as such Holder
(or, in connection with any Exchange Offer Registration Statement, the Initial
Purchasers and their counsel) reasonably may request; the Company and the
Guarantors hereby consent to the use (in accordance with law) of the Prospectus
and any amendment or supplement thereto by each selling Holder in connection
with the offering and the sale of the Transfer Restricted Securities covered by
the Prospectus or any amendment or supplement thereto; provided that such use of the Prospectus
and any amendment or supplement thereto and such offering and sale conforms to
the Plan of Distribution set forth in the Prospectus and complies with the
terms of this Agreement and all applicable laws and regulations thereunder;

 

(ix)           upon the request of any Holder in connection with any
Shelf Registration Statement, enter into such customary agreements (including
an underwriting agreement) and make such customary representations and
warranties and take all such other customary actions in connection therewith in
order to expedite or facilitate the disposition of the Transfer Restricted
Securities pursuant to any applicable Registration Statement contemplated by
this Agreement as may be reasonably requested by any Holder in connection with
any sale or resale pursuant to any applicable Registration Statement.  In such connection, the Company and the
Guarantors shall have no obligation to enter into an underwriting agreement or
permit an underwritten offering unless a request therefore shall have been
received from Holders of not less than 33% of the aggregate principal amount of
Transfer Restricted Securities then outstanding; and whether or not an
underwriting agreement is entered into and whether or not the registration is
an underwritten registration, the Company and the Guarantors shall:

 

(A)          upon request of any Holder in connection with any
Shelf Registration Statement, furnish (or in the case of paragraphs (2) and
(3), use their commercially reasonable efforts to cause to be furnished) to
each Holder, upon the effectiveness of the Shelf Registration Statement:

 

13

 

(1)           a certificate, dated such date, signed on behalf of
the Company and each Guarantor by (x) two senior officers and (y) a principal
financial or accounting officer of the Company and such Guarantor, confirming,
as of the date thereof, the matters set forth in Sections 7(f) and (g) of the
Purchase Agreement and such other similar matters as such Holders may
reasonably request;

 

(2)           an opinion, dated the date of Consummation of the
Exchange Offer or the date of effectiveness of the Shelf Registration
Statement, as the case may be, of counsel for the Company and the Guarantors
covering the matters set forth in Section 7(a) of the Purchase Agreement
and such other matters as such Holder may reasonably request, and in any event
including a representation to the effect that such counsel has participated in
conferences with officers and other representatives of the Company and the
Guarantors, representatives of the independent public accountants for the
Company and the Guarantors and has considered the matters required to be stated
therein and the statements contained therein, although such counsel has not
independently verified the accuracy, completeness or fairness of such
statements; and that such counsel advises that, on the basis of the foregoing,
no facts came to such counsel’s attention that caused such counsel to believe
that the applicable Registration Statement, at the time such Registration
Statement or any post-effective amendment thereto became effective and, in the
case of the Exchange Offer Registration Statement, as of the date of
Consummation of the Exchange Offer, contained an untrue statement of a material
fact or omitted to state a material fact required to be stated therein or
necessary to make the statements therein not misleading, or that the Prospectus
contained in such Registration Statement as of its date and, in the case of the
opinion dated the date of Consummation of the Exchange Offer, as of the date of
Consummation, contained an untrue statement of a material fact or omitted to
state a material fact necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading.  Without limiting the foregoing, such counsel
may state further that such counsel assumes no responsibility for, and has not
independently verified, the accuracy, completeness or fairness of the financial
statements, notes and schedules and other financial data included in any
Registration Statement contemplated by this Agreement or the related
Prospectus; and

 

(3)           customary comfort letters, dated as of the date of
effectiveness of the Shelf Registration Statement, as the case may be, from the
Company’s and TA Acquisition Holdings’ independent accountants, in the
customary form and covering matters of the type customarily covered in comfort
letters to underwriters in connection with underwritten offerings, and
affirming the matters set forth in the comfort letters delivered pursuant to
Section 7(c) and 7(d) of the Purchase Agreement; and

 

(B)           deliver such other documents and certificates as may
be reasonably requested by the selling Holders to evidence compliance with the
matters covered in clause (A) above and with any customary conditions contained
in any agreement entered into by the Company and the Guarantors pursuant to
this clause (ix);

 

(x)            prior to any public offering of Transfer Restricted
Securities, cooperate with the selling Holders and their counsel in connection
with the registration and qualification of the Transfer Restricted Securities
under the securities or Blue Sky laws of such

 

14

 

jurisdictions
as the selling Holders may request and do any and all other acts or things
reasonably necessary or advisable to enable the disposition in such
jurisdictions of the Transfer Restricted Securities covered by the applicable
Registration Statement; provided,
however, that neither the Company
nor any Guarantor shall be required to register or qualify as a foreign
corporation where it is not now so qualified or to take any action that would
subject it to the service of process in suits or to taxation, other than as to
matters and transactions relating to the Registration Statement, in any
jurisdiction where it is not now so subject; and

 

(xi)           provide promptly to each Holder, upon written request,
each document filed with the Commission pursuant to the requirements of
Section 13 or Section 15(d) of the Exchange Act.

 

(e)           Restrictions on Holders. 
Each Holder’s acquisition of a Transfer Restricted Security constitutes
such Holder’s agreement that, upon receipt of the notice referred to in
Section 6(d)(i)(C) or any notice from the Company of the existence of any
fact of the kind described in Section 6(d)(i)(D) hereof (in each case, a “Suspension Notice”), such Holder will
forthwith discontinue disposition of Transfer Restricted Securities pursuant to
the applicable Registration Statement until (i) such Holder has received copies
of the supplemented or amended Prospectus contemplated by Section 6(d)(ii)
hereof, or (ii) such Holder is advised in writing by the Company that the use
of the Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus (in
each case, the “Recommencement Date”).  Each Holder receiving a Suspension Notice
shall be required to either (I) destroy any Prospectuses, other than permanent
file copies, then in such Holder’s possession that have been replaced by the
Company with a more recently dated Prospectus or (II) deliver to the Company
(at the Company’s expense) all copies, other than permanent file copies, then
in such Holder’s possession of the Prospectuses covering such Transfer
Restricted Securities that was current at the time of receipt of the Suspension
Notice.  The time period regarding the
effectiveness of such Registration Statement set forth in Section 3 or 4
hereof, as applicable, shall be extended by a number of days equal to the
number of days in the period from and including the date of delivery of the
Suspension Notice to the date of delivery of the Recommencement Date.

 

SECTION 7.         REGISTRATION
EXPENSES

 

(a)           All expenses incident to the Company’s and the
Guarantors’ performance of or compliance with this Agreement will be borne by
the Company, regardless of whether a Registration Statement becomes effective,
including without limitation:  (i) all
registration and filing fees and expenses; (ii) all fees and expenses of
compliance with federal securities and state Blue Sky or securities laws; (iii)
all expenses of printing (including certificates for the Exchange Notes to be
issued in the Exchange Offer and printing of Prospectuses), messenger and
delivery services and telephone; (iv) all fees and disbursements of counsel for
the Company, the Guarantors and one counsel for the Holders of Transfer
Restricted Securities (which shall be Milbank, Tweed, Hadley & McCloy LLP
or such other counsel as may be selected by a majority of such Holders); (v)
all application and filing fees in connection with listing the Exchange Notes
on a national securities exchange or automated quotation system pursuant to the
requirements hereof; and (vi) all fees and disbursements of independent
certified public accountants of the

 

15

 

Company
and the Guarantors and TA Acquisition Holdings (including the expenses of any
special audit and comfort letters required by or incident to such performance).

 

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

 

(b)           In connection with any Registration Statement required
by this Agreement (including, without limitation, the Exchange Offer
Registration Statement and the Shelf Registration Statement), the Company and
the Guarantors will reimburse the Initial Purchasers and the Holders of
Transfer Restricted Securities who are tendering Notes in the Exchange Offer
and/or selling or reselling Notes or Exchange Notes pursuant to the “Plan of
Distribution” contained in the Exchange Offer Registration Statement or the
Shelf Registration Statement, as applicable, for the reasonable fees and
disbursements of not more than one counsel (who shall be Milbank, Tweed, Hadley
& McCloy LLP unless another firm shall be chosen by the Holders of a
majority in principal amount of the Transfer Restricted Securities for whose
benefit such Registration Statement is being prepared).

 

SECTION 8.         INDEMNIFICATION

 

(a)           The Company and the Guarantors agree, jointly and
severally, to indemnify and hold harmless each Holder, its directors, officers
and each Person, if any, who controls such Holder (within the meaning of
Section 15 of the Act or Section 20 of the Exchange Act), to the
fullest extent lawful from and against any and all losses, claims, damages,
liabilities or judgments (including without limitation, any reasonable legal or
other expenses incurred in connection with investigating or defending any
matter, including any action that could give rise to any such losses, claims,
damages, liabilities or judgments) caused by any untrue statement or alleged untrue
statement of a material fact contained in any Registration Statement,
preliminary prospectus or Prospectus (or any amendment or supplement thereto)
provided by the Company to any Holder or any prospective purchaser of Exchange
Notes or registered Notes, or caused by any omission alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, except insofar as such losses, claims,
damages, liabilities or judgments are caused by an untrue statement or omission
or alleged untrue statement or omission that is based upon information relating
to any of the Holders furnished in writing to the Company by any of the
Holders.

 

(b)           By its acquisition of Transfer Restricted Securities,
each Holder of Transfer Restricted Securities agrees, severally and not
jointly, to indemnify and hold harmless the Company and the Guarantors, and
their respective directors and officers, and each person, if any, who controls
(within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act) the Company or the Guarantors to the same extent as the foregoing
indemnity from the Company and the Guarantors set forth in Section 8(a)
hereof, but only with reference to information relating to such Holder
furnished in writing to the Company by such Holder expressly for use in any
Registration Statement or in any amendment or supplement thereto.  In no event shall any Holder, its directors,
officers or any Person who controls such Holder be liable or responsible for
any amount in excess of the amount by which the total amount received by

 

16

 

such
Holder with respect to its sale of Transfer Restricted Securities pursuant to a
Registration Statement exceeds (i) the amount paid by such Holder for such
Transfer Restricted Securities and (ii) the amount of any damages that such
Holder, its directors, officers or any Person who controls such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission.

 

(c)           In case any action shall be commenced involving any
Person in respect of which indemnity may be sought pursuant to
Section 8(a) or (b) hereof (the “indemnified party”)
the indemnified party shall promptly notify the Person against whom such
indemnity may be sought (the “indemnifying person”)
in writing and the indemnifying party shall assume the defense of such action,
including the employment of counsel reasonably satisfactory to the indemnified
party and the payment of all fees and expenses of such counsel, as incurred
(except that in the case of any action in respect of which indemnity may be
sought pursuant to both Sections 8(a) and (b) hereof, a Holder shall not be
required to assume the defense of such action pursuant to this
Section 8(c), but may employ separate counsel and participate in the
defense thereof, but the fees and expenses of such counsel, except as provided
below, shall be at the expense of the Holder). 
Any indemnified party shall have the right to employ separate counsel in
any such action and participate in the defense thereof, but the fees and
expenses of such counsel shall be at the expense of the indemnified party
unless (i) the employment of such counsel shall have been specifically
authorized in writing by the indemnifying party, (ii) the indemnifying party
shall have failed to assume the defense of such action or employ counsel
reasonably satisfactory to the indemnified party or (iii) the named parties to
any such action (including any impleaded parties) include both the indemnified
party and the indemnifying party, and the indemnified party shall have been
advised by such counsel that there may be one or more legal defenses available
to it which are different from or additional to those available to the
indemnifying party (in which case the indemnifying party shall not have the
right to assume the defense of such action on behalf of the indemnified
party).  In any such case, the indemnifying
party shall not, in connection with any one action or separate but
substantially similar or related actions in the same jurisdiction arising out
of the same general allegations or circumstances, be liable for the fees and
expenses of more than one separate firm of attorneys (in addition to any local
counsel) for all indemnified parties and all such fees and expenses shall be
reimbursed as they are incurred.  Such
firm shall be designated in writing by a majority of the Holders, in the case
of the parties indemnified, pursuant to Section 8(a) hereof, and by the
Company and the Guarantors, in the case of parties indemnified, pursuant to
Section 8(b) hereof.  The
indemnifying party shall indemnify and hold harmless the indemnified party from
and against any and all losses, claims, damages, liabilities and judgments by
reason of any settlement of any action (A) effected with its written
consent or (B) effected without its written consent if the settlement is
entered into more than 20 business days after the indemnifying party shall have
received a request from the indemnified party for reimbursement for the fees
and expenses of counsel (in any case where such fees and expenses are at the
expense of the indemnifying party) and, prior to the date of such settlement,
the indemnifying party shall have failed to comply with such reimbursement
request.  No indemnifying party shall,
without the prior written consent of the indemnified party, effect any
settlement or compromise of, or consent to the entry of judgment with respect
to, any pending or threatened action in respect of which the indemnified party
is or could have been a party and indemnity or contribution may be or could
have been sought hereunder by the indemnified party, unless such settlement,
compromise or judgment (I) includes an unconditional release of the indemnified
party from all liability on claims that are or

 

17

 

could
have been the subject matter of such action and (II) does not include a
statement as to or an admission of fault, culpability or a failure to act, by
or on behalf of the indemnified party.

 

(d)           To the extent that the indemnification provided for in
this Section 8 is unavailable to an indemnified party in respect of any
losses, claims, damages, liabilities or judgments referred to therein, then
each indemnifying party, in lieu of indemnifying such indemnified party shall
contribute to the amount paid or payable by such indemnified party as a result
of such losses, claims, damages, liabilities or judgments (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company and
the Guarantors on the one hand, and the Holders, on the other hand, from their
initial sale of Transfer Restricted Securities (or in the case of Exchange
Notes that are Transfer Restricted Securities, the sale of the Notes for which
such Exchange Notes were exchanged) or (ii) if the allocation provided by
clause 8(d)(i) above is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in such
clause 8(d)(i) but also the relative fault of the Company and the Guarantors,
on the one hand, and of the Holder, on the other hand, in connection with the
statements or omissions which resulted in such losses, claims, damages,
liabilities or judgments, as well as any other relevant equitable
considerations.  The relative fault of
the Company and the Guarantors, on the one hand, and of the Holder, on the
other hand, shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or
alleged omission to state a material fact relates to information supplied by
the Company or such Guarantor, on the one hand, or by the Holder, on the other
hand, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission.  The amount paid or payable by a party as a
result of the losses, claims, damages, liabilities and judgments referred to
above shall be deemed to include, subject to the limitations set forth in
Section 8(c) hereof, any legal or other fees or expenses reasonably
incurred by such party in connection with investigating or defending any action
or claim.

 

The Company, the Guarantors and, by its acquisition of Transfer
Restricted Securities, each Holder agree that it would not be just and
equitable if contribution pursuant to this Section 8(d) were determined by
pro rata allocation (even if the
Holders were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred
to in the immediately preceding paragraph. 
The amount paid or payable by an indemnified party as a result of the
losses, claims, damages, liabilities or judgments referred to in the
immediately preceding paragraph shall be deemed to include, subject to the
limitations set forth above, any legal or other expenses reasonably incurred by
such indemnified party in connection with investigating or defending any
matter, including any action that could have given rise to such losses, claims,
damages, liabilities or judgments. 
Notwithstanding the provisions of this Section 8, no Holder, its
directors, its officers or any Person, if any, who controls such Holder shall
be required to contribute, in the aggregate, any amount in excess of the amount
by which the total received by such Holder with respect to the sale of Transfer
Restricted Securities pursuant to a Registration Statement exceeds (i) the
amount paid by such Holder for such Transfer Restricted Securities and (ii) the
amount of any damages which such Holder has otherwise been required to pay by
reason of such untrue or alleged untrue statement or omission or alleged
omission.  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 not guilty of such
fraudulent misrepresentation.  The
Holders’ obligations to contribute

 

18

 

pursuant to this Section 8(d) are several in proportion to the
respective principal amount of Transfer Restricted Securities held by each
Holder hereunder and not joint.

 

SECTION 9.         RULE 144A AND
RULE 144

 

The Company and each Guarantor agrees with each Holder, for so long as
any Transfer Restricted Securities remain outstanding and during any period in
which the Company or such Guarantor (a) is not subject to Section 13 or
15(d) of the Exchange Act, to make available, upon request of any Holder or
beneficial owner of Transfer Restricted Securities in connection with any sale
thereof and any prospective purchaser of such Transfer Restricted Securities
designated by such Holder or beneficial owner, the information required by
Rule 144A(d)(4) under the Act in order to permit resales of such Transfer
Restricted Securities pursuant to Rule 144A, and (b) is subject to
Section 13 or 15(d) of the Exchange Act, to use its reasonable best
efforts to make all filings required thereby in a timely manner in order to
permit resales of such Transfer Restricted Securities pursuant to Rule 144.

 

SECTION 10.       FUTURE
SUBSIDIARY GUARANTEES

 

If, prior to the Consummation of the Exchange Offer or prior to the
effectiveness of the Shelf Registration Statement, as the case may be, any
subsidiary of the Company executes a Subsidiary Guarantee in accordance with
the terms and provisions of the Indenture, the Company shall cause such
subsidiary to execute and deliver to the parties hereto a counterpart signature
page to this Agreement and such subsidiary shall be bound by all the provisions
of this Agreement as a “Guarantor.”

 

SECTION 11.       MISCELLANEOUS

 

(a)           Remedies.  The Company
and the Guarantors acknowledge and agree that monetary damages (including the
liquidated damages contemplated by Section 5 hereof) would not be adequate
compensation for any loss incurred by reason of a breach by the Company or the
Guarantors of the provisions of this Agreement and the Company and the
Guarantors hereby agree to waive the defense in any action for specific
performance that a remedy at law would be adequate; provided that the liquidated damages contemplated by
Section 5 hereof shall be the exclusive remedy for any such breach of
Section 3 or 4 of this Agreement.

 

(b)           No Inconsistent Agreements. 
The Company and the Guarantors will not, on or after the date of this
Agreement, enter into any agreement with respect to their respective securities
that is inconsistent with the rights granted to the Holders in this Agreement
or otherwise conflicts with the provisions hereof.  The Company and the Guarantors have not previously entered into
any agreement granting any registration rights with respect to their respective
securities to any Person that would require such securities to be included in
any Registration Statement filed hereunder. 
The rights granted to the Holders hereunder do not in any way conflict
with and are not inconsistent with the rights granted to the holders of the
Company’s and the Guarantors’ securities under any agreement in effect on the
date hereof.

 

(c)           Amendments and Waivers. 
The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions
hereof may not be given unless (i) in the case of Section 5 hereof and
this

 

19

 

Section 11 (c)(i),
the Company has obtained the written consent of Holders of all outstanding
Transfer Restricted Securities and (ii) in the case of all other provisions
hereof, the Company has obtained the written consent of Holders of a majority
of the outstanding principal amount of Transfer Restricted Securities
(excluding Transfer Restricted Securities held by the Company or its
Affiliates).  Notwithstanding the
foregoing, a waiver of or consent to departure from the provisions hereof that
relates exclusively to the rights of Holders whose Transfer Restricted
Securities are being tendered pursuant to the Exchange Offer, and that does not
affect directly or indirectly the rights of other Holders whose Transfer
Restricted Securities are not being tendered pursuant to such Exchange Offer,
may be given by the Holders of a majority of the outstanding principal amount
of Transfer Restricted Securities subject to such Exchange Offer.

 

(d)           Third Party Beneficiary. 
The Holders shall be third party beneficiaries to the agreements made
hereunder between the Company and the Guarantors, on the one hand, and the
Initial Purchasers, on the other hand, and shall have the right to enforce such
agreements directly to the extent they may deem such enforcement necessary or
advisable to protect their rights hereunder.

 

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

 

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

 

(ii)                                  if to the Company or any of the
Guarantors:

Vought Aircraft Industries, Inc.

9314 West Jefferson Boulevard M/S 2-01

Dallas, Texas 75211

Attention:  Bruce White

Facsimile:  (972) 946-5642

 

All such notices and communications shall be deemed to have been duly
given at the time delivered by hand; when receipt is acknowledged, if
telecopied; and on the next business day, if timely delivered to an air courier
guaranteeing overnight delivery.

 

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

 

(f)            Successors and Assigns. 
This Agreement shall inure to the benefit of and be binding upon the
successors and assigns of each of the parties, including without limitation and
without the need for an express assignment, subsequent Holders; provided that nothing herein shall be
deemed to permit any assignment, transfer or other disposition of Transfer
Restricted Securities in violation of the terms hereof or of the Purchase
Agreement or the Indenture.  If any
transferee of any Holder shall acquire Transfer Restricted Securities in any
manner, whether by operation of law or otherwise, such Transfer Restricted
Securities shall be held subject to all of the terms of this Agreement, and by
taking and holding such Transfer

 

20

 

Restricted
Securities such Person shall be conclusively deemed to have agreed to be bound
by and to perform all of the terms and provisions of this Agreement, including
the restrictions on resale set forth in this Agreement and, if applicable, the
Purchase Agreement, and such Person shall be entitled to receive the benefits
hereof.

 

(g)           Counterparts.  This
Agreement may be executed in any number of counterparts and by the parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the
same agreement.

 

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

 

(i)            Governing Law.  THIS
AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK.

 

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

 

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

 

21

 

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

 

	
   

  	
  Vought Aircraft Industries, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  	
   

  
	
   

  	
   

  	
  Name: Cletus Glasener

  
	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  VAC Industries, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  	
   

  
	
   

  	
   

  	
  Name: Cletus Glasener

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Vought Commercial Aircraft Company

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  	
   

  
	
   

  	
   

  	
  Name: Cletus Glasener

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  The Aerostructures Corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ C. Glasener Jr.

  	
   

  
	
   

  	
   

  	
  Name: Cletus Glasener

  
	
   

  	
   

  	
  Title: Treasurer

  
	
   

  	
   

  
	
   

  	
   

  
	
  LEHMAN BROTHERS INC.

  GOLDMAN, SACHS & CO.

  CREDIT SUISSE FIRST BOSTON LLC

  	
   

  
	
   

  	
   

  
	
  By LEHMAN BROTHERS INC.,

  	
   

  
	
  AS AUTHORIZED
  REPRESENTATIVE

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Michael Konigsberg

  	
   

  	
   

  
	
   

  	
  Name: Michael Konigsberg

  	
   

  
	
   

  	
  Title: Managing Director

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