Document:

Exhibit 10.25

 

GREENSKY HOLDINGS, LLC

EQUITY INCENTIVE PLAN

 

INCENTIVE UNITS GRANT AGREEMENT

 

THIS INCENTIVE UNITS
GRANT AGREEMENT (this “Agreement”) is made as of [_____________ __], 201[__] (the “Grant Date”),
by and among GREENSKY HOLDINGS, LLC, a Georgia limited liability company (the “Company”), and [_____________]
(the “Participant”).

 

R E C I T A L S

 

A. The Company is
governed by the Operating Agreement of GreenSky Holdings, LLC, dated as of August 24, 2017, as may be amended, restated, supplemented
or otherwise modified from time to time (the “Operating Agreement”). Capitalized terms not otherwise defined
in this Agreement shall have the meanings ascribed to such terms in the Plan (defined below) or, if not in the Plan, in the Operating
Agreement. Certain defined terms are set forth in Appendix I hereto. This Agreement is subject to the terms, conditions
and restrictions set forth in the Plan.

 

B. The Company established
the GreenSky Holdings, LLC Equity Incentive Plan, effective as of August 24, 2017, as may be amended, restated, supplemented or
modified from time to time (the “Plan”).

 

C. The Participant
is or will become a party to the Operating Agreement.

 

D. In consideration
for the provision of services to or for the benefit of the Company, including through the provision of services to its Affiliates,
by the Participant (the “Service Provider”), the Company shall grant to the Participant Incentive Units that
will constitute Profits Interests in the Company.

 

E. The parties to
this Agreement desire to impose certain vesting terms and conditions with respect to, and obligations to sell, the Incentive Units
granted to the Participant.

 

A G R E E M E N T S

 

NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

 

article
i

GRANT OF INCENTIVE UNITS

 

1.1 Grant.
Subject to the terms, conditions and restrictions contained in the Company Governing Documents, the Company hereby grants to the
Participant [________] Incentive Units, which shall constitute Profits Interests in the Company. Such Incentive Units (the “Unvested
Incentive Units”) granted to the Participant and the applicable vesting terms are set forth on the Award Schedule attached
hereto as Exhibit A (the “Award Schedule”).

    	 

    	

    

1.2 Risks.
The Participant is aware of and understands the following:

 

(a) the Participant
must bear the economic risk of the Incentive Units for an indefinite period of time because, among other things, (A) the Incentive
Units have not been registered under the Securities Act, and, therefore, cannot be sold unless they are subsequently registered
under the Securities Act or an exemption from such registration is available, (B) the Incentive Units have not been registered
under applicable state securities laws, and, therefore, cannot be sold unless they are registered under applicable state securities
laws or an exemption from such registration is available, and (C) there are substantial restrictions on the transferability of
the Incentive Units under this Agreement, the Plan, the Operating Agreement and applicable law, and substantial restrictions on
distributions and withdrawals of capital from the Company;

 

(b) there is no established
market for the Incentive Units and no market (public or otherwise) for the Incentive Units will develop in the foreseeable future;
and

 

(c) except as provided
in the Plan or the Operating Agreement, the Participant has no rights to require that the Incentive Units be registered under the
Securities Act or the securities laws of any states and the Participant will not be able to avail himself or herself of the provisions
of Rule 144 adopted by the Securities and Exchange Commission under the Securities Act.

 

1.3 Information.

 

(a) This Agreement,
together with the Plan and the Operating Agreement, are intended to qualify as a compensatory benefit plan within the meaning of
Rule 701 of the Securities Act and the issuance of Incentive Units pursuant hereto is intended to qualify for the exemption from
registration under the Securities Act provided by Rule 701; provided, that the foregoing shall not restrict or limit the Company’s
ability to issue any Incentive Units pursuant to any other exemption from registration under the Securities Act available to the
Company and to designate any such issuance as not being subject to Rule 701.

 

(b) Further to Section
1.2, the Participant (i) agrees to furnish to the Company, all information that the Company has requested in this Agreement,
or may hereafter reasonably request, (ii) represents and warrants that the Participant, alone or together with its representatives,
possesses such expertise, knowledge and sophistication in financial and business matters generally, and in the type of transactions
in which the Company proposes to engage in particular, that the Participant is capable of evaluating the merits and economic risks
of acquiring and holding the Incentive Units, (iii) agrees to notify the Administrator of any change in any such information occurring
at any time prior to the dissolution or the termination of the Company, (iv) represents and warrants that this Agreement, the Plan
and the Operating Agreement constitute the legal, valid and binding obligation of the Participant, enforceable in accordance with
their respective terms, and the execution, delivery and performance of this Agreement, the Plan and the Operating Agreement by
the Participant, the performance of the Participant’s obligations under this Agreement, the Plan and the Operating Agreement
and the performance and consummation
by the Participant of the transactions contemplated hereby and thereby, will not result in the breach of any of the terms or conditions
of, or constitute a default under any agreement or arrangement the Participant has entered into with any party or any judgment,
order or decree to which the 

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Participant is subject, (v) represents and warrants that the Incentive Units to be acquired by the
Participant pursuant to this Agreement will be acquired for the Participant’s individual account, (vi) represents and warrants
that the Participant has had an opportunity to ask questions and receive answers concerning the terms of the Incentive Units, (vii)
represents and warrants that the Participant has had an opportunity to consult with independent legal counsel regarding its rights
and obligations under this Agreement, and fully understands the terms and conditions contained herein, and the Participant has
obtained advice from persons other than the Company and its counsel regarding the tax effects of the transactions contemplated
hereby, and (viii) represents and warrants that the Participant understands that it is responsible for the tax consequences relating
to the receipt and ownership of the Incentive Units.

 

1.4 Joinder
to Operating Agreement. The grant of Incentive Units described in this Agreement shall occur on the Grant Date subject
to the execution and delivery by the Participant to the Company of a counterpart signature page to the Operating Agreement in the
form attached hereto as Exhibit B on or prior to the Grant Date (unless the Participant is already a party to the
Operating Agreement).

 

1.5 Protective
Section 83(b) Election. As a further condition to the grant of Unvested Incentive Units under this Agreement, no later
than thirty (30) days following the Grant Date, the Participant shall execute and file with the Internal Revenue Service an election
under Section 83(b) of the Code substantially in the form attached hereto as Exhibit C, with respect to such Unvested Incentive
Units, in accordance with Section 4(e) of the Plan, and the Participant shall provide the Company with a copy of such executed
and filed election promptly thereafter, along with a copy of proof of mailing; provided, however, that if the Participant
refuses or fails to timely file such election pursuant to Section 83(b) of the Code, the Participant will forfeit the Unvested
Incentive Units granted under this Agreement, this Agreement shall be null and void ab initio and of no force or effect, and the
Company shall have no obligations to the Participant with respect to the forfeited Unvested Incentive Units.

 

1.6 General
Release.

 

(a) For and in consideration
of the grant of the Incentive Units hereunder, the Participant hereby releases, acquits, and forever discharges the Company and
its Affiliates, parents, subsidiaries, partners, joint venturers, owners, and members, and all of their officers, directors, employees,
representatives, and agents, and all successors and assigns thereof (each a “Released Party”), from any and all claims,
charges, complaints, demands, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action,
suits, rights, entitlements, costs, losses, debts, and expenses (including attorneys’ fees and legal expenses), of any nature
whatsoever, known or unknown, which the Participant now has, had, or may hereafter claim to have had against the Company or any
other Released Party, of any kind or nature whatsoever, arising from any act, omission, transaction, matter, or event which has
occurred or is alleged to have occurred up to the date the Participant executes the applicable Grant Agreement.

 

(b) The claims knowingly
and voluntarily released herein include, but are not limited to, all (i) claims relating in any way to the Participant’s
employment with the Company or any Affiliate, whether such claims are now known or are later discovered, including claims under
the Age Discrimination in Employment Act, Title VII of the Civil Rights Act of 1964, 42 U.S.C.

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§ 1981, the Americans with
Disabilities Act, the Family and Medical Leave Act, the Fair Labor Standards Act or other federal or state wage and hour laws,
and the Employee Retirement Income Security Act of 1974, as amended, (ii) claims for breach of contract or infliction of emotional
distress, (iii) claims under any other federal or state law pertaining to employment or employment benefits, (iv) claims relating
to any rights to acquire Class A Units or Incentive Units or other Membership Interests in the Company or options to acquire same,
and (v) any other claims of any kind based on any contract, tort, ordinance, regulation, statute, or constitution; provided, however,
that nothing in this Agreement shall be interpreted to release any claims which the Participant may have for workers compensation
benefits. The Participant acknowledges that this Agreement may be pled as a complete defense and shall constitute a full and final
bar to any claim based on any such act, omission, transaction, matter, or event which has occurred or is alleged to have occurred
up to the date the Participant executes this Agreement.

 

(c) The Participant
acknowledges that the Participant has read and understands this Agreement, that the Participant has been provided a period of twenty-one
(21) calendar days to consider its terms, and that the Participant has been advised in writing to discuss its terms with an attorney
or other advisor before executing it. This Agreement will not become effective and enforceable until seven (7) days after the Participant
executes it. The Participant further understands that the Participant may revoke this Agreement within seven (7) calendar days
after having signed it by delivering written notice of revocation to Steve Fox, General Counsel. If the end of such revocation
period falls on a Saturday, Sunday or legal holiday in the State of Georgia, the revocation period shall be extended until the
next day that is not a Saturday, Sunday or legal holiday in the State of Georgia. Notwithstanding anything contained herein to
the contrary, the Participant understands and agrees that, if the Participant fails to sign this Agreement on or before the expiration
of twenty-one (21) days after the day the Participant received it, or if the Participant revokes the Agreement before the expiration
of the revocation period, this Agreement shall be canceled and void, and neither party shall have any rights or obligations arising
under it, and the Participant will not be entitled to receive any payments or benefits under this Agreement not otherwise payable
absent this Agreement.

 

ARTICLE
II

PROFITS INTERESTS; VESTING

 

2.1 Nature
as Profits Interests.

 

(a) The Company and
the Participant intend that all Incentive Units granted under this Agreement qualify upon issuance as “profits interests”
in the Company within the meaning of Rev. Proc. 93-27, 1993-2 C.B. 343, or any successor Internal Revenue Service or Treasury Department
regulation or other pronouncement applicable at the date of grant. Distributions to Members holding Incentive Units pursuant to
Article VI of the Operating Agreement will be limited to the extent necessary so that each Incentive Unit granted under this Agreement
qualifies as a “profits interest” under Rev. Proc. 93-27 and the provisions of the Company Governing Documents
shall be interpreted and applied accordingly. In the event that Distributions to a Member holding Incentive Units qualifying as
Profits Interests pursuant to Article VI of the Operating Agreement are limited as a result of the first sentence of this Section
2.1(a) or because the Incentive Units are not then Vested Incentive Units, the Administrator is authorized to adjust future Distributions
to the Members in whatever manner it deems appropriate 

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so that, after such adjustments are made, each Member receives, to the maximum
extent possible, an amount of Distributions equal to the amount of Distributions such Member would have received were such sentence
not part of this Agreement, subject to treatment of such Incentive Units as Profits Interests. The Incentive Units are being issued
by the Company for the provision of services to or for the benefit of the Company and for no other consideration.

 

(b) The initial Capital
Account of the Participant under the Operating Agreement with respect to the Incentive Units granted to the Participant under this
Agreement shall be $0. The Incentive Units shall in all other respects have the attributes set forth in the Operating Agreement
for Profits Interests.

 

(c) For so long as
Revenue Procedure 2001-43, 2001-2 C.B. 191 and Revenue Procedure 93-27 are effective, the Company and the Participant hereby agree
to comply with the provisions of Revenue Procedures 2001-43 and 93-27, and neither the Company nor the Participant shall perform
any act or take any position inconsistent with the application of Revenue Procedures 2001-43 and 93-27.

 

(d) By becoming party
to this Agreement, the Participant agrees to take such actions as may be required by any authority that may be issued in the future
with respect to the taxation of “profits interests” transferred in connection with the performance of services to conform
the tax consequences to the Participant as closely as possible to the consequences under Revenue Procedure 93-27 and Revenue Procedure
2001-43.

 

(e) The Participant
authorizes the Administrator to amend, restate, supplement or otherwise modify this Agreement to the extent necessary to achieve
substantially the same tax treatment with respect to any Profits Interest in the Company transferred to the Participant by the
Company in connection with services provided by the Participant to the Company, or its Affiliates as is set forth in, as applicable,
Revenue Procedure 93-27, Revenue Procedure 2001-43 or any subsequently issued guidance described in this Section 2.1(e).

 

(f) Each Incentive
Unit issued by the Company is intended to be a “profits interest” within the meaning of Revenue Procedures 93-27 and
2001-43 (and will be accounted for by the Company and the Members in accordance therewith) and is issued with the intention that,
under current interpretations of the Code, the Participant will not realize income upon the issuance of such Incentive Unit, and
neither the Company nor any Member will be entitled to any deduction, either immediately or through depreciation or amortization,
as a result of the issuance of such Incentive Unit. Therefore, if the Company is liquidated immediately after issuance of such
Incentive Unit, before any appreciation occurred in the value of the Company’s assets, and all of the Company’s assets
sold at fair market value and the proceeds distributed in complete liquidation of the Company, the Participant would not be entitled
to receive any share of the proceeds of liquidation in respect of the Incentive Units issued by the Company hereunder.

 

2.2 Profits
Interest Threshold. The Unvested Incentive Units have the Profits Interest Threshold set forth on the Award Schedule. The
Participant, by signing this Agreement or by accepting the grant, agrees to comply with all requirements of the Safe Harbor Election.
The Participant agrees that (i) the Company is authorized and directed to elect the Safe Harbor described in the proposed Revenue
Procedure contained in the Notice 2001-43 and (ii) the

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Company and the Participant agree to comply with all of the requirements
of the Safe Harbor described in the proposed Revenue Procedure with respect to all interests transferred in connection with the
performance of services while the election is in effect. The Participant and the Company agree not to report the income tax effects
of the Safe Harbor Partnership Interest (as defined in the proposed Revenue Procedure Notice) to the U.S. tax authorities in a
manner inconsistent with the requirements of the proposed Revenue Procedure, including the failure to provide appropriate information
returns. The Participant acknowledges that the Notice contains a proposed Revenue Procedure and that the Notice and Revenue Procedure
may undergo changes prior to their finalization. The Participant hereby irrevocably grants to the Administrator a power-of-attorney
coupled with an interest to amend this Agreement to conform to any changes to the Notice reflected in the finalized Notice and/or
Revenue Procedure in order to permit the Company and the Participant to qualify for the Safe Harbor election.

 

2.3 Vesting
of Incentive Units. Subject to the Company Governing Documents, the Unvested Incentive Units shall become Vested Incentive
Units as specified in the Award Schedule if the Participant remains in the continuous service of the Company or any Affiliate thereof
from the date hereof until the respective vesting date. For purposes of this Agreement, the continuous service of the Participant
with the Company or any of its Affiliates shall not be deemed interrupted, and the Participant shall not be deemed to have ceased
to provide services to the Company or any of its Affiliates, by reason of the transfer of his or her service among the Company
or any of its Affiliates or from employment to other service or from other service to employment.

 

2.4 Power of
Attorney. The Participant hereby grants any Person or Persons designated by the Administrator, a power of attorney irrevocably
granting such Person or Persons acting at the direction of the Administrator, to execute (i) all documents as may be necessary
to effectuate the purposes of this Agreement, (ii) any other agreements, instruments and other documents as necessary to document
any actions taken by the Company pursuant to this Agreement or the Operating Agreement, and (iii) such other agreements, instruments
and other documents as reasonably requested by the Administrator. Such power of attorney shall be deemed to be coupled with an
interest, shall be irrevocable, and shall survive the bankruptcy, dissolution, death, incapacity, liquidation or any other event
affecting the Participant.

 

2.5 Voting
Rights. Except as required by law or otherwise provided in the Operating Agreement, the holders of Incentive Units that
constitute Profits Interests shall have no right to vote for any purpose, shall not be entitled to vote on any matter, to give
or withhold consent on any matter with respect to such Incentive Units, and shall not be entitled to notice of any meeting of Members.

 

ARTICLE
III

FORFEITURE OF INCENTIVE UNITS

 

3.1 Forfeiture
of Incentive Units.

 

(a) Notwithstanding
any other provisions of this Agreement to the contrary, upon a Termination of Service, all Unvested Incentive Units that have not
vested in accordance with Section 2.3 as of the date of Termination of Service, shall expire and automatically be forfeited
and canceled in their entirety without any consideration to the Participant.

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(b) Notwithstanding
any other provisions of this Agreement to the contrary, upon a Termination of Service for Cause, all Incentive Units granted under
this Agreement (whether vested or unvested in accordance with Section 2.3 as of the date of Termination of Service) shall
expire and automatically be forfeited and canceled in their entirety without any consideration to the Participant.

 

ARTICLE
IV

RESTRICTIONS ON ACTIVITIES

 

4.1 Transfer
Restrictions. The transfer restrictions set forth in Article VIII of the Operating Agreement shall be applicable to the
Incentive Units granted under this Agreement and are incorporated by reference herein. The Incentive Units may not be sold or otherwise
Transferred other than as set forth in the Operating Agreement.

 

ARTICLE
V

PURCHASE RIGHTS

 

5.1 Purchase
Rights.

 

(a) The Participant’s
Vested Incentive Units shall be subject to any repurchase or other rights that the Company may have pursuant to the provisions
of the Operating Agreement and/or the Plan.

 

(b) The Company also
shall have the right (but not the obligation) to purchase all of the Participant’s Vested Incentive Units upon the terms
and conditions set forth herein following the Participant’s Termination of Service with the Company and its Affiliates for
any reason other than Cause. The Company or its assignees shall have the right, but not the obligation, by written notice to the
Participant, delivered no earlier than such date as is necessary to avoid adverse accounting consequences as the result of the
Company’s repurchase right hereunder, to call all of the Vested Incentive Units at the Liquidation FMV of such Vested Incentive
Units as of the date of the call. The price to be paid for such Vested Incentive Units shall be payable by the Company, in its
discretion, in a single lump sum in cash or by promissory note which shall accrue interest at the national prime lending rate as
published in The Wall Street Journal on the date of the call and be payable in twelve (12) equal monthly installments of principal
and interest, commencing one month following the date of the call.

 

ARTICLE
VI

MISCELLANEOUS PROVISIONS

 

6.1 Termination
and Amendment of the Agreement.

 

(a) This Agreement
shall be terminated:

 

(i) by the Company
with the approval of the Administrator and the written consent of the Participant; or

 

(ii) if determined
by the Administrator, immediately prior to or following consummation of a Liquidity Event; provided, that any payments required
to be made

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to the Participant with respect to the Incentive Units granted pursuant to this Agreement are received by the Participant
in connection with such Liquidity Event.

 

(b) This Agreement
and this award of Incentive Units may be amended, restated, supplemented or otherwise modified by the Administrator, consistent
with the provisions of the Company Governing Documents and, in addition, may amend the award of Incentive Units prospectively or
retroactively and compliance with any term hereof may be waived, by the Company with the written approval of the Administrator
at any time; provided, however, that no such amendment, restatement, supplement or other modification shall materially
adversely affect the Participant’s interests granted hereunder without the prior written consent of the Participant, and
notwithstanding the foregoing the Participant’s consent shall not be required with respect to an amendment that is deemed
necessary by the Company to ensure exemption from or compliance with Section 409A of the Code. Any amendment to the Company Governing
Documents shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto.

 

6.2 Termination
of Status as Member. From and after the date that the Participant ceases to own any Incentive Units, the Participant shall
cease to be a Participant under the Plan for the purposes of this Agreement and all rights that the Participant may have hereunder
shall terminate, except for any rights with respect to matters contemplated hereby after such date and except for breaches occurring
prior to such time. For the purposes of the preceding sentence, the Participant shall be deemed to own all Incentive Units owned
by the Participant’s Permitted Transferees.

 

6.3 Transferability.
Except as provided in the Company Governing Documents, the Unvested Incentive Units granted under this Agreement are not Transferable
by the Participant. Any purported Transfer inconsistent with the terms of the Company Governing Documents shall cause the Unvested
Incentive Units to be immediately forfeited, and the Participant will have no further rights with respect to the Unvested Incentive
Units.

 

6.4 Distribution,
Voting and Other Rights. The Participant will have all of the rights of a Member with respect to the Incentive Units granted
hereunder in accordance with the terms and conditions of the Operating Agreement.

 

6.5 Compliance
with Law. The Company shall make reasonable efforts to comply with all applicable U.S. federal and state securities laws;
provided, however, that notwithstanding any other provision of the Operating Agreement, the Plan or this Agreement,
the Company shall not be obligated to issue any of the Incentive Units covered by this Agreement if the issuance thereof would
result in violation of any such law.

 

6.6 Adjustments.
Subject to the terms and conditions of the Company Governing Documents, the Administrator shall make or provide for such adjustments
in the number of Unvested Incentive Units granted or outstanding hereunder and in the applicable Profits Interest Threshold of
such Incentive Units, as is equitably required in order to prevent dilution or expansion of the rights of the Participant that
otherwise would result from any Membership Unit splits, recombinations, etc., in accordance with the Company Governing Documents.
For the avoidance

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of doubt, the issuance of additional Membership Units in the Company will not trigger any adjustments pursuant
to this Section 6.6.

 

6.7 Relation
to Other Benefits. Any economic or other benefit to the Participant under this Agreement or the Company Governing Documents
shall not be taken into account in determining any benefits to which the Participant may be entitled under any profit-sharing,
retirement or other benefit or compensation plan maintained by the Company or any Affiliate thereof and shall not affect the amount
of any life insurance coverage available to any beneficiary under any life insurance plan covering employees of the Company or
any Affiliate thereof.

 

6.8 Relation
to the Plan and the Company Governing Documents. In the event of any inconsistency between the provision of this Agreement
and the Company Governing Documents, the other Company Governing Documents shall govern.

 

6.9 Compliance
with Section 409A of the Code. This Agreement is intended to be exempt from or comply with, and shall be administered in
a manner that is intended to be exempt from or comply with, Section 409A of the Code and shall be construed and interpreted in
accordance with such intent; to the extent that a payment and/or benefit is subject to Section 409A of the Code, it shall be paid
in a manner that will comply with Section 409A of the Code, including proposed, temporary or final regulations or any other guidance
issued by the Secretary of the Treasury and the Internal Revenue Service with respect thereto. Any provision of this Agreement
that would cause a payment and/or benefit to fail to satisfy Section 409A of the Code shall have no force and effect until amended
to comply with Code Section 409A of the Code (which amendment may be retroactive to the extent permitted by Section 409A of the
Code). Notwithstanding the foregoing, the Company and its Affiliates shall not be liable to any Participant or any other Person
if an award of Incentive Units fails to be exempt from or comply with Section 409A of the Code.

 

6.10 Notices.
All notices required hereunder shall be delivered to the following respective addresses:

 

	 	(a)	GreenSky Holdings, LLC

5565 Glenridge Connector, Suite 700

Atlanta, GA 30342

Attention: Chief Legal Officer

 

With a copy to (which copy shall not constitute notice):

 

Troutman Sanders LLP

600 Peachtree Street NE, Suite 5200

Atlanta, Georgia 30308-2216

Attention: Jeffery R. Banish,
Esq.

 

(b) The Participant,
at its address as then shown in the Company’s records or to such other address as the Participant may have furnished to the
Company.

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(c) Notices shall
be in writing and shall be sent by facsimile or pdf e-mail, by mail (postage prepaid, registered or certified, by United States
mail, return receipt requested), by nationally recognized private courier or by personal delivery. Notices shall be effective,
(i) if sent by facsimile, when transmitted, (ii) if sent by pdf e-mail, when transmitted, (iii) if by nationally recognized private
courier, when deposited with the private courier, (iv) if mailed, when deposited in the mail, and (v) if personally delivered,
the earlier of when delivery is made or first refused. Any Person may change address for the delivery of notices by written notice
served in accordance with the provisions hereof.

 

6.11 Miscellaneous.
The use of the singular or plural or masculine, feminine or neuter gender shall not be given an exclusionary meaning and, where
applicable, shall be intended to include the appropriate number or gender, as the case may be.

 

6.12 Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which, when taken together,
shall constitute one instrument. Facsimile and pdf e-mail signatures shall have the same legal effect as manual signatures.

 

6.13 Entire
Agreement. This Agreement, the Plan and the Operating Agreement constitute the entire agreement between and among the parties
with respect to the subject matter hereof and thereof. No promises, statements, understandings, representations, or warranties
of any kind, whether oral or in writing, express or implied have been made to the Participant by any Person to induce the Participant
to enter into this Agreement other than the express terms set forth in this Agreement, the Plan, and the Operating Agreement, and
the Participant is not relying upon any promises, statements, understandings, representations, or warranties other than those expressly
set forth in this Agreement, the Plan, and the Operating Agreement. Any amendments to this Agreement must be made in writing and
duly executed by each of the parties entitled to adopt said amendment as provided in Section 6.1 or by an authorized representative
or agent of each such party. The Participant hereby acknowledges and represents that he or she has had the opportunity to consult
with independent legal counsel or other advisor of his or her choice and has done so regarding their rights and obligations under
this Agreement, that he or she is entering into this Agreement knowingly, voluntarily, and of his or her own free will, that he
or she is relying on his or her own judgment in doing so, and that he or she fully understands the terms and conditions contained
herein.

 

6.14 Incentive
Units Subject to Plan and Operating Agreement. By entering into this Agreement the Participant agrees and
acknowledges that (a) the Participant has received and read a copy of the Plan and the Operating Agreement, and (b) the
Incentive Units are subject to the Plan and the Operating Agreement, the terms and provisions of each of which are hereby
incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or
provision of the Plan or the Operating Agreement, the applicable terms and provisions of the Plan or the Operating Agreement
will govern and prevail.

 

6.15 Withholding.
The Participant may be required to pay to the Company or any of its Affiliates, and the Company and its Affiliates shall have the
right and are hereby authorized to withhold from any payment due or transfer made under this Agreement, under the Plan or from
any other amount owing to the Participant, the amount (in cash or, at the election of the Company,

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securities or other property)
of any applicable federal, state, local or foreign withholding taxes in respect of an Incentive Unit or any payment or transfer
under this Agreement or the Plan and to take such other action as may be necessary in the opinion of the Administrator to satisfy
all obligations for the payment of such taxes.

 

6.16 Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, representatives,
successors and permitted assigns.

 

6.17 Enforcement.
The failure of any party hereto to insist in one or more instances on performance by another party hereto of any obligation, condition
or other term of this Agreement in strict accordance with the provisions hereof shall not be construed as a waiver of any right
granted hereunder or of the future performance of any obligation, condition or other term of this Agreement in strict accordance
with the provisions hereof, and no waiver with respect thereto shall be effective unless contained in a writing signed by or on
behalf of the waiving party. The remedies in this Agreement shall be cumulative and are not exclusive of any other remedies provided
by law.

 

6.18 Governing
Law. This Agreement and any and all claims or causes of action, disputes, controversies or legal proceedings (whether in
contract, tort, equity or under any other theory) arising out of, under, pursuant to, or in any way relating to this Agreement
or the transactions contemplated hereby or the negotiation, execution, performance or enforcement hereof, including any and all
claims (whether in contract, tort, equity or under any other theory) as to the scope, validity, enforcement, interpretation, construction,
and effect hereof, shall be governed by and enforced with the laws of the State of Georgia, without regard to the conflicts of
law principles that would result in the application of any law other than the law of the State of Georgia.

 

6.19 Severability.
If any provision of this Agreement is, becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or as to
any Person or award, or would disqualify any award under any law deemed applicable by the Administrator, such provision shall be
constructed or deemed amended to conform to all applicable laws, or if it cannot be construed or deemed amended without, in the
determination of the Administrator, materially altering the intent of this Agreement or the award, such provision shall be stricken
as to such jurisdiction, Person or award and the remainder of this Agreement and any such award shall remain in full force and
effect.

 

6.20 No Contract
of Employment. Neither this Agreement nor any award granted under this Agreement shall confer upon the Participant any
right to employment or other service or continuance of employment or other service by the Company or any of its Affiliates. This
Agreement does not constitute a contract of employment or a contract of services or impose on the Company or any of
its Affiliates any obligations to retain the Participant as an employee or a service provider of the Company or any of its Affiliates,
to change the status of his or her service, or to change the Company’s or any of its Affiliates’ policies regarding
termination of employment or service.

    	11

    	

    

6.21 Captions.
The article or section titles or captions contained in this Agreement are for convenience only and are not to be considered in
the construction or interpretation of this Agreement or any provision thereof.

 

6.22 No Third-Party
Rights. Nothing in this Agreement shall be construed to grant rights to any Person who is not a party to this Agreement.

 

6.23 Rule of
Construction. The parties acknowledge and agree that each has negotiated and reviewed the terms of this Agreement, assisted
by such legal and tax counsel as they desired, and has contributed to its revisions. The parties further agree that the rule of
construction that a contract shall be construed against the drafter shall not be applied. The word “including” means
“including, without limitation.”

 

6.24 Arbitration.
Other than the Company’s right to seek injunctive relief or specific performance as provided in this Agreement, any dispute,
controversy, or claim (whether sounding in contract, tort, equity or other theory) between any party hereto, on the one hand, and
any other party hereto, on the other hand, arising out of, under, pursuant to, or in any way relating to this Agreement or the
negotiation thereof shall be submitted to and resolved by confidential and binding arbitration (“Arbitration”),
administered by the American Arbitration Association (“AAA”) and conducted pursuant to the rules then in effect
of the AAA governing commercial disputes. The Arbitration hearing shall take place in Atlanta, Georgia. Such Arbitration shall
be before three (3) neutral arbitrators (the “Panel”) licensed to practice law and familiar with commercial
dispute. Any award rendered in any Arbitration shall be final and conclusive upon the parties to the Arbitration and not subject
to judicial review, and the judgment thereon may be entered in the highest court of the forum (state or federal) having jurisdiction
over the issues addressed in the Arbitration, but entry of such judgment will not be required to make such award effective. The
Panel may enter a default decision against any party who fails to participate in the Arbitration. Subject to Section 6.25,
the administration fees and expenses of the Arbitration shall be borne 50% by the Company and 50% by the Participant; provided,
that each party shall pay for and bear the cost of his/her/its own experts, evidence, and attorney’s fees, except that, in
the discretion of the Panel, any award may include the costs of a party’s counsel and/or its share of the expense of Arbitration
if the Panel expressly determines that an award of such costs is appropriate to the party whose position substantially prevails
in such Arbitration. Notwithstanding any other provision of this Agreement, no party shall be entitled to an award of special,
punitive, or consequential damages. To submit a matter to Arbitration, the party seeking redress shall notify in writing, in accordance
with Section 6.10 of this Agreement, the party against whom such redress is sought, describe the nature of such claim, the
provision of this Agreement that has been allegedly violated and the material facts surrounding such claim. The Panel shall render
a single written, reasoned decision. The decision of the Panel shall be binding upon the parties to the Arbitration, and after
the completion of such Arbitration, the parties to the Arbitration may only institute litigation regarding the Agreement for the
sole purpose of enforcing the determination of the Arbitration hearing or, with respect
to the Company, to seek injunctive or equitable relief. The Panel shall have exclusive authority to resolve any dispute relating
to the interpretation, applicability, enforceability or formation of this agreement to arbitrate, including any claim that all
or part of this Agreement is void or voidable and any claim that an issue is not subject to arbitration. All proceedings conducted
pursuant to this agreement to arbitrate, including any order, 

    	12

    	

    

decision or award of the arbitrator, shall be kept confidential by
all parties except to the extent such disclosure is required by law, or in a proceeding to enforce any rights under this Agreement.

 

THE PARTICIPANT ACKNOWLEDGES THAT, BY
SIGNING THIS AGREEMENT, HE OR SHE IS WAIVING ANY RIGHT THAT HE OR SHE MAY HAVE TO A JURY TRIAL OR A COURT TRIAL RELATED TO THIS
AGREEMENT.

 

6.25 Recovery
of Attorney’s Fees. In the event any party commences any arbitration, proceeding or litigation at law or in equity
related to this Agreement, following the final adjudication of such arbitration, proceeding or litigation, the party whose position
substantially prevails shall be entitled to recover its reasonable attorneys’ fees and other costs incurred in connection
with such arbitration, proceeding or litigation.

 

[The remainder of this page is intentionally
left blank.]

    	13

    	

    

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

 

	 	GREENSKY HOLDINGS, LLC
	 	 
	 	By:	              
	 	Name:
	 	Title:
	 	 

	 	PARTICIPANT
	 	 
	 	 
	 	Name:
	 	Address:	            
	 	 	 

    	14

    	

    

APPENDIX I

 

Certain Defined Terms

 

(a) “Safe
Harbor Election” means the election described in Prop. Reg. §1.83-3(l)(1)(i) and Notice 2005-43, 2005-24 IRB 1221
or subsequently issued guidance.

 

(b) “Sale
of the Business” shall have the same meaning ascribed to such term in the Operating Agreement.

 

(c) “Termination
of Service” means the termination of the employment or other services of the Service Provider with the Company and its
Affiliates, including termination of the Service Provider’s Services Agreement, such that thereafter the Service Provider
is no longer employed by or providing services to the Company or any of its Affiliates.

    	 

    	

    

Exhibit A

 

AWARD SCHEDULE

 

	Participant	 	Number of Incentive Units	 	Profits Interest

    Threshold
	[______]	 	[___________] Incentive Units shall vest in equal annual installments on the first day of the calendar month which includes the first(1st), second(2nd), third(3rd), fourth(4th) and fifth (5th) anniversaries of the Grant Date; notwithstanding the foregoing, all of the Incentive Units shall become vested in full (to the extent not vested previously) on a Sale of the Business provided the Participant remains in the continuous service of the Company or an Affiliate from the date hereof until the date of such Sale of the Business.	 	$[___]

    	 

    	

    

Exhibit B

 

COUNTERPART SIGNATURE PAGE TO

LLC AGREEMENT

 

By execution of this
Counterpart Signature Page, the undersigned does hereby become a party to and agrees to be bound by the provisions of the Amended
and Restated Operating Agreement of GreenSky Holdings, LLC, dated as of August 24, 2017, as it may be amended, restated, supplemented
or otherwise modified from time to time (the “Operating Agreement”), by and among the parties listed on the
signature pages thereto, and the undersigned hereby authorizes GreenSky Holdings, LLC to append this Counterpart Signature Page
to the Operating Agreement as evidence thereof. Please send a scanned copy of this signed Counterpart Signature Page via electronic
mail, as specified below.

 

	 	By: 	                                                                 
	 	 	Name:
	 	 	Title:
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	Attn: Steve Fox, Chief Legal Officer for GreenSky
	 	 
	 	Telephone No.: 404-###-####
	 	 
	 	Electronic Mail:

    ###########@greenskycredit.com

    	 

    	

    

Copy 1: IRS File Copy

 

Exhibit C

 

PROTECTIVE SECTION 83(B) ELECTION

 

[________ __], 201[_]

 

Department of the Treasury

Internal Revenue Service Center

 

 

 

Ladies and Gentlemen:

 

I hereby make an election
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to my interest in the limited liability
company described below. Although the interest with respect to which this election is made qualifies as a “partnership profits
interest,” I make this election on a “protective” basis, notwithstanding the fact that the IRS has announced
in Revenue Procedure 93-27 and Revenue Procedure 2001-43 that, in general, the receipt of a partnership profit interest will not
be treated as a taxable event, in case it is ever determined that the interest does not so qualify. The following information is
submitted as required by Treas. Reg. § 1.83-2(e):

 

	(1)	Name of Taxpayer:	 	 
	 	Address:	 	 
	 	 	 	 
	 	EIN No.:	 	 
	 	 	 	 

		(2)	Description of property with respect to which the election is being made: The election is being
made with respect to [________] Incentive Units (the “Incentive Units”) of GreenSky Holdings, LLC (the “Company”).

 

		(3)	The date on which the Incentive Units were transferred is [__________ __], 201[__]. The taxable
year to which this election relates is calendar year 201[__].

 

		(4)	Restrictions to which property is subject: Among other restrictions, the Incentive Units are subject
to vesting conditions relating to continued service with the Company and its Affiliates.

 

		(5)	The fair market value at the time of transfer (determined without regard to any restrictions other
than restrictions which by their terms will never lapse) of my membership interest in the Company with respect to which this election
is being made is $0 per Incentive Unit.

 

		(6)	The amount paid by me for my Incentive Units in the Company was $0 per Incentive Unit.

 

		(7)	The amount I will include in income as the result of this election is $0.

 

		(8)	A copy of this election has been furnished to the Company.

 

A copy of this election
will be submitted to the Internal Revenue Service with my federal income tax return for the year ending 201[__]. Please acknowledge
receipt of this letter by signing or stamping the enclosed copy of this letter and return it in the enclosed, self-addressed, stamped
envelope.

 

Dated: [__________ ___], 201[__]

 

	 	 
	 	Name:

    	 

    	

    

Copy 2: IRS Acknowledgement

 

ATTENTION IRS! Date stamp & return to taxpayer this 83(b) Election Acknowledgment Copy (per IRM 21.1.7.6)

 

Exhibit C

 

PROTECTIVE SECTION 83(B) ELECTION

 

[________ __], 201[_]

 

Department of the Treasury

Internal Revenue Service Center

 

 

 

Ladies and Gentlemen:

 

I hereby make an election
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to my interest in the limited liability
company described below. Although the interest with respect to which this election is made qualifies as a “partnership profits
interest,” I make this election on a “protective” basis, notwithstanding the fact that the IRS has announced
in Revenue Procedure 93-27 and Revenue Procedure 2001-43 that, in general, the receipt of a partnership profit interest will not
be treated as a taxable event, in case it is ever determined that the interest does not so qualify. The following information is
submitted as required by Treas. Reg. § 1.83-2(e):

 

	(1)	Name of Taxpayer:	 	 
	 	Address:	 	 
	 	 	 	 
	 	EIN No.:	 	 
	 	 	 	 

	(2)	Description of property with respect to which the election is being made: The election is being made with respect to [_______________]
Incentive Units (the “Incentive Units”) of GreenSky Holdings, LLC (the “Company”).

 

		(3)	The date on which the Incentive Units were transferred is [____________ ___], 201[__]. The taxable
year to which this election relates is calendar year 201[__].

 

		(4)	Restrictions to which property is subject: Among other restrictions, the Incentive Units are subject
to vesting conditions relating to continued service with the Company and its Affiliates.

 

		(5)	The fair market value at the time of transfer (determined without regard to any restrictions other
than restrictions which by their terms will never lapse) of my membership interest in the Company with respect to which this election
is being made is $0 per Incentive Unit.

 

		(6)	The amount paid by me for my Incentive Units in the Company was $0 per Incentive Unit.

 

		(7)	The amount I will include in income as the result of this election is $0.

 

		(8)	A copy of this election has been furnished to the Company.

 

A copy of this election
will be submitted to the Internal Revenue Service with my federal income tax return for the year ending 201[_]. Please acknowledge
receipt of this letter by signing or stamping the enclosed copy of this letter and return it in the enclosed, self-addressed, stamped
envelope.

 

Dated: [___________ ___], 201[__]

 

	 	 
	 	Name:

    	 

    	

    

Copy 3: Company

 

Exhibit C

 

PROTECTIVE SECTION 83(B) ELECTION

 

[________ __], 201[_]

 

Department of the Treasury

Internal Revenue Service Center

 

 

 

Ladies and Gentlemen:

 

I hereby make an election
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to my interest in the limited liability
company described below. Although the interest with respect to which this election is made qualifies as a “partnership profits
interest,” I make this election on a “protective” basis, notwithstanding the fact that the IRS has announced
in Revenue Procedure 93-27 and Revenue Procedure 2001-43 that, in general, the receipt of a partnership profit interest will not
be treated as a taxable event, in case it is ever determined that the interest does not so qualify. The following information is
submitted as required by Treas. Reg. § 1.83-2(e):

 

	(1)	Name of Taxpayer:	 	 
	 	Address:	 	 
	 	 	 	 
	 	EIN No.:	 	 
	 	 	 	 

	(2)	Description of property with respect to which the election is being made: The election is being made with respect to [_______________]
Incentive Units (the “Incentive Units”) of GreenSky Holdings, LLC (the “Company”).

 

		(3)	The date on which the Incentive Units were transferred is [____________ ___], 201[__]. The taxable
year to which this election relates is calendar year 201[__].

 

		(4)	Restrictions to which property is subject: Among other restrictions, the Incentive Units are subject
to vesting conditions relating to continued service with the Company and its Affiliates.

 

		(5)	The fair market value at the time of transfer (determined without regard to any restrictions other
than restrictions which by their terms will never lapse) of my membership interest in the Company with respect to which this election
is being made is $0 per Incentive Unit.

 

		(6)	The amount paid by me for my Incentive Units in the Company was $0 per Incentive Unit.

 

		(7)	The amount I will include in income as the result of this election is $0.

 

		(8)	A copy of this election has been furnished to the Company.

 

A copy of this election
will be submitted to the Internal Revenue Service with my federal income tax return for the year ending 201[_]. Please acknowledge
receipt of this letter by signing or stamping the enclosed copy of this letter and return it in the enclosed, self-addressed, stamped
envelope.

 

Dated: [___________ ___], 201[__]

 

	 	 
	 	Name:

    	 

    	

    

Copy 4: Taxpayer

 

Exhibit C

 

PROTECTIVE SECTION 83(B) ELECTION

 

[________ __], 201[_]

 

Department of the Treasury

Internal Revenue Service Center

 

 

 

Ladies and Gentlemen:

 

I hereby make an election
pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, with respect to my interest in the limited liability
company described below. Although the interest with respect to which this election is made qualifies as a “partnership profits
interest,” I make this election on a “protective” basis, notwithstanding the fact that the IRS has announced
in Revenue Procedure 93-27 and Revenue Procedure 2001-43 that, in general, the receipt of a partnership profit interest will not
be treated as a taxable event, in case it is ever determined that the interest does not so qualify. The following information is
submitted as required by Treas. Reg. § 1.83-2(e):

 

	(1)	Name of Taxpayer:	 	 
	 	Address:	 	 
	 	 	 	 
	 	EIN No.:	 	 
	 	 	 	 

	(2)	Description of property with respect to which the election is being made: The election is being made with respect to [_______________]
Incentive Units (the “Incentive Units”) of GreenSky Holdings, LLC (the “Company”).

 

		(3)	The date on which the Incentive Units were transferred is [____________ ___], 201[__]. The taxable
year to which this election relates is calendar year 201[__].

 

		(4)	Restrictions to which property is subject: Among other restrictions, the Incentive Units are subject
to vesting conditions relating to continued service with the Company and its Affiliates.

 

		(5)	The fair market value at the time of transfer (determined without regard to any restrictions other
than restrictions which by their terms will never lapse) of my membership interest in the Company with respect to which this election
is being made is $0 per Incentive Unit.

 

		(6)	The amount paid by me for my Incentive Units in the Company was $0 per Incentive Unit.

 

		(7)	The amount I will include in income as the result of this election is $0.

 

		(8)	A copy of this election has been furnished to the Company.

 

A copy of this election
will be submitted to the Internal Revenue Service with my federal income tax return for the year ending 201[_]. Please acknowledge
receipt of this letter by signing or stamping the enclosed copy of this letter and return it in the enclosed, self-addressed, stamped
envelope.

 

Dated: [___________ ___], 201[__]

 

	 	 
	 	Name:Exhibit 4.1

 

Execution Version

 

 

$300,000,000

 

OSHKOSH CORPORATION

 

4.600% Senior Unsecured Notes due 2028

 

Underwriting Agreement

 

May 3, 2018

 

J.P. Morgan Securities LLC

Merrill Lynch, Pierce, Fenner & Smith

Incorporated

Wells Fargo Securities, LLC

 

As Representatives of the several Underwriters

Listed in Schedule 1 hereto

 

c/o     J.P. Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

 

Merrill Lynch, Pierce, Fenner & Smith

Incorporated

One Bryant Park

New York, New York 10036

 

Wells Fargo Securities, LLC

550 South Tryon Street

Charlotte, North Carolina 28202

 

Ladies and Gentlemen:

 

Oshkosh Corporation, a Wisconsin corporation (the “Company”), proposes to issue and sell to the several Underwriters listed in Schedule 1 hereto (the “Underwriters”), for whom you are acting as representatives (the “Representatives”), $300,000,000 principal amount of its 4.600% Senior Unsecured Notes due 2028 (the “Securities”).  The Securities will be issued pursuant to an indenture to be dated as of May 17, 2018 between the Company and Wells Fargo Bank, National Association, as trustee (the “Trustee”), as amended and supplemented by the first supplemental indenture, dated as of May 17, 2018, between the Company and the Trustee, with respect to the Securities (as so amended and supplemented, the “Indenture”).

 

The Company hereby confirms its agreement with the several Underwriters concerning the purchase and sale of the Securities, as follows:

 

1.                                    Registration Statement.  The Company has prepared and filed with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Securities Act”), a

 

 

registration statement on Form S-3 (File No. 333-208058), including a prospectus, relating to the Securities.  Such registration statement, as amended at the time it became effective, including the information, if any, deemed pursuant to Rule 430A, 430B or 430C under the Securities Act to be part of the registration statement at the time of its effectiveness (“Rule 430 Information”), is referred to herein as the “Registration Statement”; and as used herein, the term “Preliminary Prospectus” means each prospectus included in such registration statement (and any amendments thereto) before effectiveness, any prospectus filed with the Commission pursuant to Rule 424(a) under the Securities Act and the prospectus included in the Registration Statement at the time of its effectiveness that omits Rule 430 Information, and the term “Prospectus” means the prospectus in the form first used (or made available upon request of purchasers pursuant to Rule 173 under the Securities Act) in connection with confirmation of sales of the Securities.  Any reference in this agreement (this “Agreement”) to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act, as of the effective date of the Registration Statement or the date of such Preliminary Prospectus or the Prospectus, as the case may be and any reference to “amend”, “amendment” or “supplement” with respect to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to refer to and include any documents filed after such date under the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Exchange Act”) that are deemed to be incorporated by reference therein.  Capitalized terms used but not defined herein shall have the meanings given to such terms in the Registration Statement and the Prospectus.

 

At or prior to 2:20 p.m., New York City time, on May 3, 2018, the time when sales of the Securities were first made (the “Time of Sale”), the Company had prepared the following information (collectively, the “Time of Sale Information”): a Preliminary Prospectus dated May 3, 2018, and each “free-writing prospectus” (as defined pursuant to Rule 405 under the Securities Act) listed on Annex A hereto.

 

2.                                    Purchase and Sale of the Securities.

 

(a)                               The Company agrees to issue and sell the Securities to the several Underwriters as provided in this Agreement, and each Underwriter, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the Company the respective principal amount of Securities set forth opposite such Underwriter’s name in Schedule 1 hereto at a price equal to 99.002% of the principal amount thereof plus accrued interest, if any, from the Closing Date (as defined below).  The Company will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided herein.

 

(b)                              The Company understands that the Underwriters intend to make a public offering of the Securities as soon after the effectiveness of this Agreement as in the judgment of the Representatives is advisable, and initially to offer the Securities on the terms set forth in the Time of Sale Information.  The Company acknowledges and agrees that the Underwriters may offer and sell Securities to or through any affiliate of an Underwriter and that any such affiliate may offer and sell Securities purchased by it to or through any Underwriter.

 

2

 

(c)                               Payment for and delivery of the Securities will be made at the offices of Mayer Brown LLP at 10:00 A.M., New York City time, on May 17, 2018, or at such other time or place on the same or such other date, not later than the fifth business day thereafter, as the Representatives and the Company may agree upon in writing.  The time and date of such payment and delivery is referred to herein as the “Closing Date”.

 

(d)                             Payment for the Securities shall be made by wire transfer in immediately available funds to the account(s) specified by the Company to the Representatives against delivery to the nominee of The Depository Trust Company (“DTC”), for the account of the Underwriters, of one or more global notes representing the Securities (collectively, the “Global Note”), with any transfer taxes payable in connection with the sale of the Securities duly paid by the Company.  The Global Note will be made available for inspection by the Representatives not later than 1:00 P.M., New York City time, on the business day prior to the Closing Date.

 

(e)                               The Company acknowledges and agrees that each Underwriter is acting solely in the capacity of an arm’s length contractual counterparty to the Company with respect to the offering of Securities contemplated hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or any other person.  Additionally, neither the Representatives nor any other Underwriter is advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction.  The Company shall consult with its own advisors concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby, and the Underwriters shall have no responsibility or liability to the Company with respect thereto. Any review by the Representatives or any Underwriter of the Company, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Representatives or such Underwriter, as the case may be, and shall not be on behalf of the Company or any other person.

 

3.                                    Representations and Warranties of the Company.  The Company hereby represents, warrants and covenants to each Underwriter that, as of the date hereof and as of the Closing Date:

 

(a)                               Preliminary Prospectus.  No order preventing or suspending the use of any Preliminary Prospectus has been issued by the Commission, and each Preliminary Prospectus, at the time of filing thereof, complied in all material respects with the Securities Act and did not contain any untrue statement of a material fact or omit 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; provided that the Company and makes no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in any Preliminary Prospectus.

 

(b)                              Time of Sale Information. The Time of Sale Information at the Time of Sale did not contain any untrue statement of a material fact or omit 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; provided that the Company makes no representation or warranty with

 

3

 

respect to any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Preliminary Prospectus, the Time of Sale Information or the Prospectus.  No statement of material fact included in the Prospectus has been omitted from the Time of Sale Information and no statement of material fact included in the Time of Sale Information that is required to be included in the Prospectus has been omitted therefrom.

 

(c)                               Issuer Free Writing Prospectus.  The Company (including its agents and representatives, other than the Underwriters in their capacity as such) has not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any “written communication” (as defined in Rule 405 under the Securities Act) that constitutes an offer to sell or solicitation of an offer to buy the Securities (each such communication by the Company or its agents and representatives (other than a communication referred to in clauses (i) (ii) and (iii) below) an “Issuer Free Writing Prospectus”) other than (i) any document not constituting a prospectus pursuant to Section 2(a)(10)(a) of the Securities Act or Rule 134 under the Securities Act, (ii) the Preliminary Prospectus, (iii) the Prospectus, (iv) the documents listed on Annex A hereto, including a Pricing Term Sheet substantially in the form of Annex B hereto, which constitute part of the Time of Sale Information and (v) any electronic road show or other written communications including the Electronic (Netroadshow) Investor Presentation of the Company made available on April 30, 2018 (the “Investor Presentation”), in each case approved in advance by the Representatives.  Each such Issuer Free Writing Prospectus complies in all material respects with the Securities Act, has been or will be (within the time period specified in Rule 433) filed in accordance with the Securities Act (to the extent required thereby) and, when taken together with the Preliminary Prospectus filed prior to the first use of such Issuer Free Writing Prospectus, at the Time of Sale did not contain any untrue statement of a material fact or omit 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; provided that the Company makes no representation or warranty with respect to any statements or omissions made in each such Issuer Free Writing Prospectus in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in any Issuer Free Writing Prospectus.

 

(d)                             Registration Statement and Prospectus.  The Registration Statement is an “automatic shelf registration statement” as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date hereof; and no notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company.  No order suspending the effectiveness of the Registration Statement has been issued by the Commission and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against the Company or related to the offering has been initiated or threatened by the Commission; as of the applicable effective date of the Registration Statement and any amendment thereto, the Registration Statement complied and will comply in all material respects with the Securities Act and the Trust Indenture Act of 1939, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Trust Indenture Act”), and did

 

4

 

not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading; and as of the date of the Prospectus and any amendment or supplement thereto and as of the Closing Date, the Prospectus will not contain any untrue statement of a material fact or omit 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; provided that the Company makes no representation or warranty with respect to (i) that part of the Registration Statement that constitutes the Statement of Eligibility on Form T-1 of the Trustee under the Trust Indenture Act or (ii) any statements or omissions made in reliance upon and in conformity with information relating to any Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement and the Prospectus and any amendment or supplement thereto.

 

(e)                               Incorporated Documents.  The documents incorporated by reference in each of the Registration Statement, the Prospectus and the Time of Sale Information when they became effective or at the time they were or hereafter are filed with the Commission (collectively, the “Incorporated Documents”) complied and will comply in all material respects with the requirements of the Exchange Act.  Each such Incorporated Document, when taken together with the Time of Sale Information, did not as of the Time of Sale, and at the Closing Date will not, contain any untrue statement of a material fact or omit 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.

 

(f)                                Financial Statements.  The financial statements (including the related notes thereto) of the Company and its consolidated subsidiaries included or incorporated by reference in each of the Registration Statement, the Time of Sale Information and the Prospectus comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly, in all material respects, the financial position of the Company and its consolidated subsidiaries as of the dates indicated and the results of their operations and the changes in their cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis throughout the periods covered thereby, and any supporting schedules included or incorporated by reference in each of the Registration Statement, the Prospectus and the Time of Sale Information present fairly, in all material respects, the information required to be stated therein; and the other financial information included or incorporated by reference in each of the Registration Statement, the Time of Sale Information and the Prospectus has been derived from the accounting records of the Company and its consolidated subsidiaries and presents fairly, in all material respects, the information shown thereby.  The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement, the Prospectus and the Time of Sale Information fairly present the information called for in all material respects and have been prepared in accordance with the Commission’s rules and guidelines applicable thereto.

 

(g)                              No Material Adverse Change.  Since the date of the most recent financial statements of the Company included or incorporated by reference in each of the Registration Statement, the Time of Sale Information and the Prospectus, (i) there has not been any change in the capital stock of the Company (other than (A) the issuance of shares of common stock of the

 

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Company upon exercise of stock options and warrants or vesting of awards described as outstanding in, and the grant of options and awards under existing equity incentive plans described in, the Prospectus and (B) the repurchase of shares of common stock of the Company pursuant to the share repurchase authorizations described in the Prospectus), any material change in the short-term debt or long-term debt of the Company or any of its subsidiaries, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any class of capital stock (other than the quarterly cash dividend of $0.24 per share of common stock of the Company payable on May 29, 2018), or any material adverse change, or any development involving a prospective material adverse change, in or affecting the business, properties, financial position or results of operations of the Company and its subsidiaries taken as a whole; (ii) neither the Company nor any of its subsidiaries has entered into any transaction or agreement (whether or not in the ordinary course of business) that is material to the Company and its subsidiaries taken as a whole or incurred any liability or obligation, direct or contingent, that is material to the Company and its subsidiaries taken as a whole; and (iii) neither the Company nor any of its subsidiaries has sustained any loss or interference with its business that is material to the Company and its subsidiaries taken as a whole and that is either from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor disturbance or dispute or any action, order or decree of any court or arbitrator or governmental or regulatory authority, except in each case of clauses (i), (ii) and (iii) as otherwise disclosed in each of the Registrations Statement, the Time of Sale Information and the Prospectus (exclusive of any amendment or supplement thereto).

 

(h)                              Organization and Good Standing.  The Company and each of the Significant Subsidiaries have been duly organized and are validly existing and in good standing under the laws of their respective jurisdictions of organization, are duly qualified to do business and are in good standing in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties and to conduct the businesses in which they are engaged, except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a material adverse effect on the business, properties, financial position, results of operations or business prospects of the Company and its subsidiaries taken as a whole or on the performance by the Company of their obligations under this Agreement, the Securities and the Indenture (a “Material Adverse Effect”).  The Company does not own or control, directly or indirectly, any corporation, association or other entity other than the subsidiaries listed in Exhibit 21 to the Company’s Annual Report on Form 10-K, as amended, for the fiscal year ended September 30, 2017.  The subsidiaries listed in Schedule 2 to this Agreement are the only Significant Subsidiaries of the Company.

 

(i)                                  Capitalization.  The Company has the capitalization as set forth in each of the Registration Statement, the Time of Sale Information and the Prospectus under the heading “Capitalization”; all the outstanding shares of capital stock or other equity interests of each Significant Subsidiary have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party, except as may secure the obligations of the Company under the Second Amended and Restated

 

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Credit Agreement, dated April 3, 2018, among the Company, the financial institutions party thereto and Bank of America, N.A. (the “Credit Agreement”).

 

(j)                                  Due Authorization.  The Company has full right, power and authority to execute and deliver this Agreement, the Securities and the Indenture (collectively, the “Transaction Documents”) and to perform its obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement, the Securities and the Indenture and the consummation by it of the transactions contemplated hereby and thereby has been duly and validly taken.

 

(k)                              The Indenture.  The Indenture has been duly authorized by the Company and, on the Closing Date, will have been duly executed and delivered by the Company and (assuming due execution and delivery by the Trustee) will constitute a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles; the Indenture has been duly qualified under the Trust Indenture Act.

 

(l)                                  The Securities.  The Securities have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as provided in the Indenture and paid for as provided herein, will be duly and validly issued and outstanding and will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture.

 

(m)                          Underwriting Agreement.  This Agreement has been duly authorized, executed and delivered by the Company.

 

(n)                              Descriptions of the Securities and the Indenture.  The Securities and the Indenture will conform in all material respects to the respective statements relating thereto contained in each of the Registration Statement, the Time of Sale Information and the Prospectus.

 

(o)                              No Violation or Default.  None of the Company or any of the Significant Subsidiaries is in violation of its charter or by-laws or similar organizational documents.  Neither the Company nor any of its subsidiaries is (i) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default (“Default”), in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject (each, an “Existing Instrument”); or (ii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (ii) above, for any such default or violation that would not, individually or in the aggregate, have a Material Adverse Effect.

 

(p)                              No Conflicts.  The execution, delivery and performance by the Company of this Agreement and the Indenture, the issuance and sale of the Securities and the consummation of the

 

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transactions contemplated hereby and thereby will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a Default or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, any Existing Instrument, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, Default, Debt Repayment Triggering Event, lien, charge or encumbrance that would not, individually or in the aggregate, have a Material Adverse Effect.  As used herein, a “Debt Repayment Triggering Event” means any event or condition which gives, or with the giving of notice or lapse of time would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

 

(q)                              No Consents Required.  No consent, approval, authorization, order, license, registration or qualification of or with any court or governmental or regulatory authority is required for the execution, delivery and performance by the Company of this Agreement or the Indenture, the issuance and sale of the Securities and the consummation of the transactions contemplated hereby and thereby, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required (i) under the Securities Act for the registration of the Securities, (ii) under the Trust Indenture Act for the qualification of the Indenture, and (iii) by the Financial Industry Regulatory Authority, Inc. (“FINRA”) and under applicable state and foreign securities laws in connection with the offering and sale of the Securities by the Underwriters.

 

(r)                                 Legal Proceedings.  Except as described in each of the Registration Statement, the Time of Sale Information and the Prospectus, there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its subsidiaries is a party or to which any property of the Company or any of its subsidiaries is the subject that, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries, would reasonably be expected to have a Material Adverse Effect; no such investigations, actions, suits or proceedings are, to the knowledge of the Company, threatened by any governmental or regulatory authority or threatened by others; and (i) there are no current or pending legal, governmental or regulatory actions, suits or proceedings that would be required under the Exchange Act to be described in an Annual Report on Form 10-K that are not so described in the Registration Statement, the Time of Sale Information and the Prospectus and (ii) there are no statutes, regulations or contracts or other documents that would be required under the Exchange Act to be described in an Annual Report on Form 10-K that are not so described in the Registration Statement, the Time of Sale Information and the Prospectus.

 

(s)                                Independent Accountants.  Deloitte & Touche LLP, who have audited certain financial statements of the Company and its consolidated subsidiaries, is an independent registered public accounting firm with respect to the Company and its consolidated subsidiaries within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Exchange Act.

 

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(t)                                 Title to Real and Personal Property.  The Company and its subsidiaries have good and marketable title in fee simple (in the case of owned real property) to, or have valid and marketable rights to lease or otherwise use, all items of real and personal property and assets that are material to the business of the Company and its subsidiaries taken as a whole, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title except those that (i) do not materially interfere with the use made of such property by the Company and its subsidiaries, (ii) secure the obligations of the Company under the Credit Agreement or (iii) would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.

 

(u)                              Title to Intellectual Property.  The Company and its subsidiaries own, possess or license adequate rights to use all material patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) necessary for the conduct of their respective businesses as currently conducted, except as would not reasonably be expected to have a Material Adverse Effect, and to the knowledge of the Company, the conduct of their respective businesses will not conflict in any material respect with any such valid rights of others. To the knowledge of the Company, the Company and its subsidiaries have not received any written notice of any claim of infringement, misappropriation or conflict with any such valid rights of others in connection with its patents, patent rights, licenses, inventions, trademarks, service marks, trade names, copyrights and know-how that would reasonably be expected to have a Material Adverse Effect.

 

(v)                              No Undisclosed Relationships.  No relationship, direct or indirect, exists between or among the Company or any of its subsidiaries, on the one hand, and the directors, officers or stockholders of the Company or the customers or suppliers of the Company or any of its subsidiaries, on the other, that would be required by the Exchange Act to be described in an Annual Report on Form 10-K and that is not so described in the Registration Statement, the Prospectus and the Time of Sale Information.

 

(w)                          Investment Company Act.  The Company is not, and, after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in each of the Registration Statement, the Time of Sale Information and the Prospectus, will not be required to register as an “investment company” or an entity “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Investment Company Act”).

 

(x)                              Taxes.  The Company and its subsidiaries have paid all federal, state, local and foreign taxes (other than those taxes which are being contested in good faith or which, if not paid, would not reasonably be expected to have a Material Adverse Effect) and filed all tax returns (except in any case in which the failure to so file would not reasonably be expected to have a Material Adverse Effect) required to be paid or filed through the date hereof; and except as otherwise disclosed in each of the Registration Statement, the Time of Sale Information and the Prospectus, there is no tax deficiency that has been asserted against the Company or any of its subsidiaries or any of their respective properties or assets, except for such tax deficiencies that would not reasonably be expected to have a Material Adverse Effect.

 

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(y)                              Licenses and Permits.  The Company and its subsidiaries possess all licenses, certificates, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate federal, state, local or foreign governmental or regulatory authorities that are reasonably necessary for the ownership or lease of their respective properties or the conduct of their respective businesses as described in each of the Registration Statement, the Time of Sale Information and the Prospectus, except where the failure to possess or make the same would not, individually or in the aggregate, have a Material Adverse Effect; and except as described in each of the Registration Statement, the Time of Sale Information and the Prospectus, neither the Company nor any of its subsidiaries has received notice of any revocation or modification of any such license, certificate, permit or authorization, except such revocations or modifications that would not, individually or in the aggregate have a Material Adverse Effect.

 

(z)                               No Labor Disputes.  No labor disturbance by or dispute with employees of the Company or any of its subsidiaries exists or, to the knowledge of the Company, is threatened, except as would not have a Material Adverse Effect.

 

(aa)                        Compliance with and Liability under Environmental Laws.  Except as disclosed in each of the Time of Sale Information and the Prospectus, (i) the Company and its subsidiaries (a) are, and at all prior times were, in compliance with all applicable federal, state, local and foreign laws, rules, regulations, requirements, decisions, judgments, decrees, orders and the common law relating to pollution or the protection of the environment, natural resources or human health or safety, including those relating to hazardous or toxic substances or wastes, pollutants or contaminants (collectively, “Environmental Laws”), (b) have received and are in compliance with all permits, licenses, certificates or other authorizations or approvals required of them under applicable Environmental Laws to conduct their respective businesses as currently conducted and (c) have not received notice of any actual or potential liability under or relating to, or actual violation of, any Environmental Laws, including for the investigation or remediation of any release of hazardous or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition that would reasonably be expected to result in any such notice, except where, in each case, such noncompliance with Environmental Laws, failure to receive permits, licenses, certificates, authorizations or approvals or liability would not reasonably be expected to have a Material Adverse Effect.

 

(bb)                      Compliance with ERISA.  (i) Each employee benefit plan, within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within the meaning of Section 414 of the Internal Revenue Code of 1986, as amended (the “Code”)) would have any liability (each, a “Plan”) has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Code, except for noncompliance that would not reasonably be expected to result in a Material Adverse Effect; (ii) no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred with respect to any Plan excluding transactions effected pursuant to a statutory or administrative exemption that would reasonably be expected to result in a Material Adverse Effect; (iii) no “reportable event” (within the meaning of Section 4043(c) of ERISA) has occurred or is reasonably expected to occur that either has resulted, or would reasonably be expected to result, in a Material Adverse Effect; and (iv) neither the Company nor any member

 

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of the Controlled Group has incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan or premiums to the Pension Benefit Guaranty Corporation, in the ordinary course and without default) in respect of a Plan (including a “multiemployer plan”, within the meaning of Section 4001(a)(3) of ERISA) that would reasonably be expected to have a Material Adverse Effect.

 

(cc)                        Disclosure Controls.  The Company maintains an effective system of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that has been designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure.  The Company’s management has carried out evaluations of the effectiveness of the Company’s disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act.

 

(dd)                    Accounting Controls.  The Company maintains a system of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act) relating to the Company and its subsidiaries that complies with the requirements of the Exchange Act and has been designed by, or under the supervision of, the Company’s principal executive and principal financial officers, or persons performing similar functions, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles, including, but not limited to, internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (v) the interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement, the Prospectus and the Time of Sale Information is prepared in accordance with the Commission’s rules and guidelines applicable thereto.  Except as disclosed in each of the Registration Statement, the Time of Sale Information and the Prospectus, there are no material weaknesses in the Company’s internal controls relating to the Company and its subsidiaries.  The Company’s auditors and the Audit Committee of the Board of Directors of the Company have been advised of:  (i) all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which have adversely affected or are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls over financial reporting.

 

(ee)                        Insurance.  The Company and its subsidiaries have insurance covering their properties, operations, personnel and businesses taken as a whole, including business interruption insurance, which insurance is in amounts and insures against such losses and risks as are customary in the businesses in which they are engaged.

 

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(ff)                          No Unlawful Payments.  Neither the Company nor any of its subsidiaries, nor, to the knowledge of the Company, any director, officer, employee, agent, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made or taken an act in furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government official or employee, including of any government-owned or controlled entity or of a public international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offence under the Bribery Act 2010 of the United Kingdom, or any other applicable anti-bribery or anti-corruption law; or (iv) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit.  The Company and its subsidiaries have instituted, maintain and enforce, policies and procedures designed to promote and ensure compliance with all applicable anti-bribery and anti-corruption laws.

 

(gg)                      Compliance with Money Laundering Laws.  The operations of the Company and its subsidiaries are and have been conducted at all times in compliance in all material respects with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”), and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

 

(hh)                      No Conflicts with Sanctions Laws.  Neither the Company nor any of its subsidiaries, nor, to the knowledge of the Company, any director, officer, employee, agent, affiliate or other person associated with or acting on behalf of the Company or any of its subsidiaries is currently the subject or the target of any sanctions administered or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or “blocked person”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), nor is the Company or any of its subsidiaries located, organized or resident in a country or territory that is the subject or target of Sanctions, including, without limitation, Cuba, Iran, North Korea, Syria and Crimea (each, a “Sanctioned Country”); and the Company will not directly or indirectly use the proceeds of the offering of the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or facilitation, is the subject or target of Sanctions, (ii) to fund or facilitate any activities of or business in any Sanctioned Country or (iii) in any other manner that will result in a violation by the Company or any of its subsidiaries of Sanctions.

 

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(ii)                              No Restrictions on Significant Subsidiaries.  No Significant Subsidiary of the Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such Significant Subsidiary’s capital stock or other equity interest, from repaying to the Company any loans or advances to such Significant Subsidiary from the Company or from transferring any of such Significant Subsidiary’s properties or assets to the Company or any other subsidiary of the Company.

 

(jj)                              No Broker’s Fees.  Neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with any person (other than this Agreement) that would give rise to a valid claim against the Company or any of its subsidiaries or any Underwriter for a brokerage commission, finder’s fee or like payment in connection with the offering and sale of the Securities.

 

(kk)                      No Registration Rights.  No person has the right to require the Company or any of its subsidiaries to register any securities for sale under the Securities Act by reason of the filing of the Registration Statement with the Commission or the issuance and sale of the Securities.

 

(ll)                              No Stabilization.  The Company has not taken, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities.

 

(mm)              Margin Rules.  The application of the proceeds received by the Company from the issuance, sale and delivery of the Securities as described in each of the Registration Statement, the Time of Sale Information and the Prospectus will not violate Regulation T, U or X of the Board of Governors of the Federal Reserve System or any other regulation of such Board of Governors.

 

(nn)                      Forward-Looking Statements.  No forward-looking statement (within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act) contained in any of the Registration Statement, the Time of Sale Information or the Prospectus has been made or reaffirmed by the Company without a reasonable basis or has been disclosed other than in good faith.

 

(oo)                      Statistical and Market Data.  Nothing has come to the attention of the Company that has caused the Company to believe that the statistical and market-related data included in each of the Registration Statement, the Time of Sale Information and the Prospectus is not based on or derived from sources that are reliable and accurate in all material respects.

 

(pp)                      Sarbanes-Oxley Act.  There is and has been no failure on the part of the Company or, to the knowledge of the Company, any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any provision of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

 

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(qq)                      Status under the Securities Act.  The Company is not an ineligible issuer and is a well-known seasoned issuer, in each case as defined under the Securities Act, in each case at the times specified in the Securities Act in connection with the offering of the Securities.

 

4.                                    Further Agreements of the Company.  The Company covenants and agrees with each Underwriter that:

 

(a)                               Required Filings.  The Company will file the final Prospectus with the Commission within the time periods specified by Rule 424(b) and Rule 430A, 430B or 430C under the Securities Act, will file any Issuer Free Writing Prospectus (including the Pricing Term Sheet referred to in Annex B hereto) to the extent required by Rule 433 under the Securities Act; and the Company will file promptly all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of the Prospectus and for so long as the delivery of a prospectus is required in connection with the offering or sale of the Securities; and the Company will furnish copies of the Prospectus and each Issuer Free Writing Prospectus (to the extent not previously delivered) to the Underwriters in New York City prior to 10:00 A.M., New York City time, on the business day next succeeding the date of this Agreement in such quantities as the Representatives may reasonably request. The Company will pay the registration fees for this offering within the time period required by Rule 456(b)(1)(i) under the Securities Act (without giving effect to the proviso therein) and in any event prior to the Closing Date.

 

(b)                              Delivery of Copies.  The Company will deliver, without charge, (i) to the Representatives, two signed copies of the Registration Statement as originally filed and each amendment thereto, in each case including all exhibits and consents filed therewith and documents incorporated by reference therein; and (ii) to each Underwriter (A) a conformed copy of the Registration Statement as originally filed and each amendment thereto, in each case including all exhibits and consents filed therewith and (B) during the Prospectus Delivery Period (as defined below), as many copies of the Prospectus (including all amendments and supplements thereto and documents incorporated by reference therein) and each Issuer Free Writing Prospectus as the Representatives may reasonably request.  As used herein, the term “Prospectus Delivery Period” means such period of time after the first date of the public offering of the Securities as in the opinion of counsel for the Underwriters a prospectus relating to the Securities is required by law to be delivered (or required to be delivered but for Rule 172 under the Securities Act) in connection with sales of the Securities by any Underwriter or dealer.

 

(c)                               Amendments or Supplements; Issuer Free Writing Prospectuses.  Before making, preparing, using, authorizing, approving, referring to or filing any Issuer Free Writing Prospectus, and before filing any amendment or supplement to the Registration Statement or the Prospectus, whether before or after the time that the Registration Statement becomes effective the Company will furnish to the Representatives and counsel for the Underwriters a copy of the proposed Issuer Free Writing Prospectus, amendment or supplement for review and will not make, prepare, use, authorize, approve, refer to or file any such Issuer Free Writing Prospectus or file any such proposed amendment or supplement to which the Representatives reasonably objects.

 

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(d)                             Notice to the Representatives.  The Company will advise the Representatives promptly, and confirm such advice in writing, (i) when the Registration Statement has become effective; (ii) when any amendment to the Registration Statement has been filed or becomes effective; (iii) when any supplement to the Prospectus or any amendment to the Prospectus or any Issuer Free Writing Prospectus has been filed; (iv) of any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Prospectus or the receipt of any comments from the Commission relating to the Registration Statement or any other request by the Commission for any additional information; (v) of the issuance by the Commission or any other governmental or regulatory authority of any order suspending the effectiveness of the Registration Statement or preventing or suspending the use of any Preliminary Prospectus, the Prospectus, any Time of Sale Information or any Issuer Free Writing Prospectus or the initiation or threatening of any proceeding for that purpose or pursuant to Section 8A of the Securities Act; and (vi) of the receipt by the Company of any notice of objection of the Commission to the use of the Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act; and (vii) of the receipt by the Company of any notice with respect to any suspension of the qualification of the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts to prevent the issuance of any such order suspending the effectiveness of the Registration Statement, preventing or suspending the use of any Preliminary Prospectus, any of the Time of Sale Information, Issuer Free Writing Prospectus or the Prospectus, or suspending any such qualification of the Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof.

 

(e)                               Time of Sale Information.  If at any time prior to the Closing Date (i) any event shall occur or condition shall exist as a result of which any of the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading or (ii) it is necessary to amend or supplement the Time of Sale Information to comply with law, the Company will immediately notify the Underwriters thereof and forthwith prepare and, subject to paragraph (c) above, file with the Commission (to the extent required) and furnish to the Underwriters and to such dealers as the Representatives may designate, such amendments or supplements to the Time of Sale Information (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in any of the Time of Sale Information as so amended or supplemented (including such documents to be incorporated by reference therein) will not, in the light of the circumstances under which they were made, be misleading or so that any of the Time of Sale Information will comply with law.

 

(f)                                Ongoing Compliance.  If during the Prospectus Delivery Period (i) any event shall occur or condition shall exist as a result of which the Prospectus as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Prospectus is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Prospectus to comply with law, the Company will immediately notify the Underwriters thereof and forthwith prepare and, subject to paragraph (c) above, file with the Commission and furnish to the Underwriters and to such dealers as the Representatives may

 

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designate, such amendments or supplements to the Prospectus (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in the Prospectus as so amended or supplemented including such documents to be incorporated by reference therein will not, in the light of the circumstances existing when the Prospectus is delivered to a purchaser, be misleading or so that the Prospectus will comply with law.

 

(g)                              Blue Sky Compliance.  The Company will qualify the Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Representatives shall reasonably request and will continue such qualifications in effect so long as required for distribution of the Securities; provided that the Company shall not be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject.

 

(h)                              Earning Statement.  The Company will make generally available to its security holders and the Representatives as soon as practicable an earning statement that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 of the Commission promulgated thereunder covering a period of at least twelve months beginning with the first fiscal quarter of the Company occurring after the “effective date” (as defined in Rule 158) of the Registration Statement.

 

(i)                                  Clear Market.  During the period from the date hereof through and including the Closing Date, the Company will not, without the prior written consent of the Representatives, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company and having a tenor of more than one year.

 

(j)                                  Use of Proceeds.  The Company will apply the net proceeds from the sale of the Securities as described in each of the Registration Statement, the Time of Sale Information and the Prospectus under the heading “Use of proceeds”.

 

(k)                              DTC.  The Company will assist the Underwriters in arranging for the Securities to be eligible for clearance and settlement through DTC.

 

(l)                                  No Stabilization.  The Company will not take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities.

 

(m)                          Record Retention.  The Company will, pursuant to reasonable procedures developed in good faith, retain copies of each Issuer Free Writing Prospectus that is not filed with the Commission in accordance with Rule 433 under the Securities Act.

 

5.                                    Certain Agreements of the Underwriters.                         Each Underwriter hereby represents and agrees that:

 

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(a)                               It has not and will not use, authorize use of, refer to, or participate in the planning for use of, any “free writing prospectus”, as defined in Rule 405 under the Securities Act (which term includes use of any written information furnished to the Commission by the Company and not incorporated by reference into the Registration Statement and any press release issued by the Company) other than (i) a free writing prospectus that, solely as a result of use by such Underwriter, would not trigger an obligation to file such free writing prospectus with the Commission pursuant to Rule 433, (ii) any Issuer Free Writing Prospectus listed on Annex A or prepared pursuant to Section 3(c) or Section 4(c) above (including any electronic road show), or (iii) any free writing prospectus prepared by such Underwriter and approved by the Company in advance in writing.  Notwithstanding the foregoing, the Underwriters may use the Pricing Term Sheet referred to in Annex B hereto without the consent of the Company.

 

(b)                              It is not subject to any pending proceeding under Section 8A of the Securities Act with respect to the offering (and will promptly notify the Company if any such proceeding against it is initiated during the Prospectus Delivery Period).

 

6.                                    Conditions of Underwriters’ Obligations.  The obligation of each Underwriter to purchase Securities on the Closing Date as provided herein is subject to the performance by the Company of its covenants and other obligations hereunder and to the following additional conditions:

 

(a)                               Registration Compliance; No Stop Order.  No order suspending the effectiveness of the Registration Statement shall be in effect, and no proceeding for such purpose, pursuant to Rule 401(g)(2) or pursuant to Section 8A under the Securities Act shall be pending before or threatened by the Commission; the Prospectus and each Issuer Free Writing Prospectus shall have been timely filed with the Commission under the Securities Act (in the case of an Issuer Free Writing Prospectus, to the extent required by Rule 433 under the Securities Act) and in accordance with Section 4(a) hereof; and all requests by the Commission for additional information shall have been complied with to the reasonable satisfaction of the Representatives.

 

(b)                              Representations and Warranties.  The representations and warranties of the Company contained herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Company and its officers made in any certificates delivered pursuant to this Agreement shall be true and correct on and as of the Closing Date.

 

(c)                               No Downgrade.  Subsequent to the earlier of (A) the Time of Sale and (B) the execution and delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded the Securities or any other debt securities or preferred stock issued or guaranteed by the Company or any of its subsidiaries by any “nationally recognized statistical rating organization”, as such term is defined under Section 3(a)(62) under the Exchange Act and (ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock issued or guaranteed by the Company or any of its subsidiaries (other than an announcement with positive implications of a possible upgrading).

 

(d)                             No Material Adverse Change.  No event or condition of a type described in Section 3(g) hereof shall have occurred or shall exist, which event or condition is not described

 

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in each of the Time of Sale Information (excluding any amendment or supplement thereto) and the Prospectus (excluding any amendment or supplement thereto) the effect of which in the judgment of the Representatives makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Prospectus.

 

(e)                               Officer’s Certificate.  The Representatives shall have received on and as of the Closing Date a certificate of an executive officer of the Company who has specific knowledge of the Company’s financial matters and is satisfactory to the Representatives (i) confirming that such officer has carefully reviewed the Registration Statement, the Time of Sale Information and the Prospectus and, to the knowledge of such officer, the representations set forth in Sections 3(b) and 3(d) hereof are true and correct, (ii) confirming that the other representations and warranties of the Company in this Agreement are true and correct and that the Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date and (iii) to the effect set forth in paragraphs (a), (c) and (d) above.

 

(f)                                Comfort Letters.  (i) On the date of this Agreement and on the Closing Date, Deloitte & Touche LLP shall have furnished to the Representatives, at the request of the Company, letters, dated the respective dates of delivery thereof and addressed to the Underwriters, in form and substance reasonably satisfactory to the Representatives, containing statements and information of the type customarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in each of the Registration Statement, the Time of Sale Information and the Prospectus; provided that the letter delivered on the Closing Date shall use a “cut-off” date no more than three business days prior to the Closing Date.

 

(ii) The Company shall have furnished to the Representatives a certificate, dated the Closing Date and addressed to the Representatives, of its chief financial officer with respect to certain financial data contained in the Registration Statement, the Time of Sale Information and the Prospectus, providing “management comfort” with respect to such information, in form and substance reasonably satisfactory to the Representatives.

 

(g)                              Opinion and 10b-5 Statement of Counsel for the Company.  Foley & Lardner LLP, counsel for the Company, and Ignacio A. Cortina, Executive Vice President General Counsel and Secretary of the Company, shall have furnished to the Representatives, at the request of the Company, their respective written opinions and 10b-5 statements (in the case of Foley & Lardner LLP only), dated the Closing Date and addressed to the Underwriters, in form and substance reasonably satisfactory to the Representatives, to the effect set forth in Annexes C and D, respectively, hereto.

 

(h)                              Opinion and 10b-5 Statement of Counsel for the Underwriters.  The Representatives shall have received on and as of the Closing Date an opinion and 10b-5 statement, addressed to the Underwriters, of Mayer Brown LLP, counsel for the Underwriters, with respect to such matters as the Representatives may reasonably request, and such counsel shall have received such documents and information as they may reasonably request to enable them to pass upon such matters.

 

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(i)                                  No Legal Impediment to Issuance.  No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities.

 

(j)                                  Good Standing.  The Representatives shall have received on and as of the Closing Date satisfactory evidence of the good standing of the Company and its subsidiaries in their respective jurisdictions of organization and their good standing in such other jurisdictions as the Representatives may reasonably request, in each case in writing or any standard form of telecommunication, from the appropriate governmental authorities of such jurisdictions.

 

(k)                              DTC.  The Securities shall be eligible for clearance and settlement through DTC.

 

(l)                                  Indenture and Securities.  The Indenture shall have been duly executed and delivered by a duly authorized officer of the Company and the Trustee, and the Securities shall have been duly executed and delivered by a duly authorized officer of the Company and duly authenticated by the Trustee.

 

(m)                          Additional Documents.  On or prior to the Closing Date, the Company shall have furnished to the Representatives such further certificates and documents as the Representatives may reasonably request.

 

All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Underwriters.

 

7.                                    Indemnification and Contribution.

 

(a)                               Indemnification of the Underwriters.  The Company agrees to indemnify and hold harmless each Underwriter, its affiliates, directors and officers and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several, that arise out of, or are based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, not misleading, or (ii) any untrue statement or alleged untrue statement of a material fact contained in the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, or caused by any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Underwriter

 

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furnished to the Company in writing by such Underwriter through the Representatives expressly for use therein.

 

(b)                              Indemnification of the Company.  Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors and officers who signed the Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to such Underwriter furnished to the Company in writing by such Underwriter through the Representatives expressly for use in the Registration Statement, the Prospectus (or any amendment or supplement thereto), any Issuer Free Writing Prospectus or any Time of Sale Information, it being understood and agreed that the only such information consists of the following paragraphs under the heading “Underwriting” in the Preliminary Prospectus and the Prospectus:  the second, third and fourth sentences in the third paragraph, the paragraph relating to short sales, stabilizing transactions, purchases to cover positions created by short sales and the eighth paragraph.

 

(c)                               Notice and Procedures.  If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the “Indemnified Person”) shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above.  If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred.  In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them.  It is understood and agreed that the Indemnifying

 

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Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be paid or reimbursed as they are incurred.  Any such separate firm for any Underwriter, its affiliates, directors and officers and any control persons of such Underwriter shall be designated in writing by the Representatives and any such separate firm for the Company, its directors and officers who signed the Registration Statement and any control persons of the Company shall be designated in writing by the Company.  The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment.  Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the date of such settlement.  No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person.

 

(d)                             Contribution.  If the indemnification provided for in paragraph (a) or (b) above is unavailable to an Indemnified Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other from the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the relative fault of the Company on the one hand and the Underwriters on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations.  The relative benefits received by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same respective proportions as the net proceeds (before deducting expenses) received by the Company from the sale of the Securities and the total underwriting discounts and commissions received by the Underwriters in connection therewith, in each case as set forth in the table on the cover of the Prospectus, bear to the aggregate offering price of the Securities.  The relative fault of the Company on the one hand and the Underwriters on the other 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 by the

 

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Underwriters and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.

 

(e)                               Limitation on Liability.  The Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above.  The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim.  Notwithstanding the provisions of this Section 7, in no event shall an Underwriter be required to contribute any amount in excess of the amount by which the total underwriting discounts and commissions received by such Underwriter with respect to the offering of the Securities exceeds the amount of any damages that such Underwriter 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 Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.  The Underwriters’ obligations to contribute pursuant to this Section 7 are several in proportion to their respective purchase obligations hereunder and not joint.

 

(f)                                Non-Exclusive Remedies.  The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity.

 

8.                                    Effectiveness of Agreement.  This Agreement shall become effective as of the date first written above.

 

9.           Termination.  This Agreement may be terminated in the absolute discretion of the Representatives, by notice to the Company, if after the execution and delivery of this Agreement and on or prior to the Closing Date (i) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the over-the-counter market; (ii) trading of any securities issued or guaranteed by the Company shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities shall have been declared by federal or New York State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the judgment of the Representatives, is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Prospectus.

 

10.                            Defaulting Underwriter.

 

(a)                               If, on the Closing Date, any Underwriter defaults on its obligation to purchase the Securities that it has agreed to purchase hereunder, the non-defaulting Underwriters may in their discretion arrange for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement.  If, within 36 hours after any such default by any

 

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Underwriter, the non-defaulting Underwriters do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Underwriters to purchase such Securities on such terms.  If other persons become obligated or agree to purchase the Securities of a defaulting Underwriter, either the non-defaulting Underwriters or the Company may postpone the Closing Date for up to five full business days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Underwriters may be necessary in the Registration Statement, the Time of Sale Information and the Prospectus or in any other document or arrangement, and the Company agrees to promptly prepare any amendment or supplement to the Registration Statement, the Time of Sale Information and the Prospectus that effects any such changes.  As used in this Agreement, the term “Underwriter” includes, for all purposes of this Agreement unless the context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 10, purchases Securities that a defaulting Underwriter agreed but failed to purchase.

 

(b)                              If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased does not exceed one-eleventh of the aggregate principal amount of all the Securities, then the Company shall have the right to require each non-defaulting Underwriter to purchase the principal amount of Securities that such Underwriter agreed to purchase hereunder plus such Underwriter’s pro  rata share (based on the principal amount of Securities that such Underwriter agreed to purchase hereunder) of the Securities of such defaulting Underwriter or Underwriters for which such arrangements have not been made.

 

(c)                               If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Underwriter or Underwriters by the non-defaulting Underwriters and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased exceeds one-eleventh of the aggregate principal amount of all the Securities, or if the Company shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability on the part of the non-defaulting Underwriters.  Any termination of this Agreement pursuant to this Section 10 shall be without liability on the part of the Company, except that the Company will continue to be liable for the payment of expenses as set forth in Section 11 hereof and except that the provisions of Section 7 hereof shall not terminate and shall remain in effect.

 

(d)                             Nothing contained herein shall relieve a defaulting Underwriter of any liability it may have to the Company or any non-defaulting Underwriter for damages caused by its default.

 

11.        Payment of Expenses.

 

(a)                               Whether or not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid all costs and expenses incident to the performance of its obligations hereunder, including without limitation, (i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs incident to the preparation, printing and filing under the Securities Act of the Registration Statement, the Preliminary Prospectus, any Issuer Free Writing Prospectus, any Time of Sale Information and the

 

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Prospectus (including all exhibits, amendments and supplements thereto) and the distribution thereof; (iii) the costs of reproducing and distributing each of the Transaction Documents; (iv) the fees and expenses of the Company’s counsel and independent accountants; (v) the fees and expenses incurred in connection with the registration or qualification and determination of eligibility for investment of the Securities under the laws of such jurisdictions as the Representatives may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the Underwriters); (vi) any fees charged by rating agencies for rating the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to such parties); (viii) all expenses and application fees incurred in connection with any filing with, and clearance of the offering by, FINRA, and the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses incurred by the Company in connection with any “road show” presentation to potential investors, including the Investor Presentation.

 

(b)                              If (i) this Agreement is terminated pursuant to Section 9, (ii) the Company for any reason fails to tender the Securities for delivery to the Underwriters or (iii) the Underwriters decline to purchase the Securities for any reason permitted under this Agreement, the Company agrees to reimburse the Underwriters for all out-of-pocket costs and expenses (including the fees and expenses of their counsel) reasonably incurred by the Underwriters in connection with this Agreement and the offering contemplated hereby.

 

12.                            Persons Entitled to Benefit of Agreement.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers and directors and any controlling persons referred to herein, and the affiliates of each Underwriter referred to in Section 7 hereof.  Nothing in this Agreement is intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein.  No purchaser of Securities from any Underwriter shall be deemed to be a successor merely by reason of such purchase.

 

13.                            Survival.  The respective indemnities, rights of contribution, representations, warranties and agreements of the Company and the Underwriters contained in this Agreement or made by or on behalf of the Company or the Underwriters pursuant to this Agreement or any certificate delivered pursuant hereto shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company or the Underwriters.

 

14.                            Certain Defined Terms.  For purposes of this Agreement, (a) except where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “business day” means any day other than a day on which banks are permitted or required to be closed in New York City; (c) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act ; and (d) the term “Significant Subsidiary” has the meaning set forth in Rule 1-02 of Regulation S-X under the Exchange Act.

 

15.                            Compliance with USA Patriot Act.  In accordance with the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), the Underwriters are required to obtain, verify and record information that identifies their respective clients, including the Company, which information may include the name and address of their

 

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respective clients, as well as other information that will allow the Underwriters to properly identify their respective clients.

 

16.                            Miscellaneous.

 

(a)                               Authority of the Representatives.  Any action by the Underwriters hereunder may be taken by any of the Representatives on behalf of the Underwriters, and any such action taken by any of the Representatives shall be binding upon the Underwriters.

 

(b)                              Notices.  All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication.  Notices to the Underwriters shall be given to the Representative c/o J.P. Morgan Securities LLC, 383 Madison Avenue, New York, New York 10179 (fax: 212-270-1063); Attention: Investment Grade Syndicate Desk; Merrill Lynch, Pierce, Fenner & Smith Incorporated, 50 Rockefeller Plaza, NY1-50-12-01, New York, New York 10020, (fax: 212-901-7881), Attention: High Grade Debt Capital Markets Transaction Management/Legal; and Wells Fargo Securities, LLC, 550 South Tryon Street, Charlotte, NC 28202, (fax: 704-410-0326), Attn: Transaction Management.  Notices to the Company shall be given to it at 2307 Oregon Street, P.O. Box 2566, Oshkosh, Wisconsin 54903-2566, (fax: 920-966-5955); Attention: Executive Vice President, General Counsel and Secretary.

 

(c)                               Governing Law.  This Agreement and any claim, controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the laws of the State of New York.

 

(d)                             Submission to Jurisdiction.  The Company hereby submits to the exclusive jurisdiction of the U.S. federal and New York state courts in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.  The Company waives any objection which it may now or hereafter have to the laying of venue of any such suit or proceeding in such courts.  The Company agrees that final judgment in any such suit, action or proceeding brought in such court shall be conclusive and binding upon the Company and may be enforced in any court to the jurisdiction of which the Company is subject by a suit upon such judgment.

 

(e)                               Waiver of Jury Trial.  Each of the parties hereto hereby waives any right to trial by jury in any suit or proceeding arising out of or relating to this Agreement.

 

(f)                                Counterparts.  This Agreement may be signed in counterparts (which may include counterparts delivered by any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument.

 

(g)                              Amendments or Waivers.  No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the parties hereto.

 

(h)                              Headings.  The headings herein are included for convenience of reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement.

 

25

 

[Signature Pages Follow]

 

26

 

If the foregoing is in accordance with your understanding, please indicate your acceptance of this Agreement by signing in the space provided below.

 

	
 
    	
Very   truly yours,
    
	
 
    	
 
    
	
 
    	
OSHKOSH   CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   R. Scott Grennier
    	
 
    
	
 
    	
 
    	
Name:   R. Scott Grennier
    
	
 
    	
 
    	
Title:   SVP & Treasurer
    

 

[Signature Page to the Underwriting Agreement]

 

 

	
Accepted:   As of the date first written above
    	
 
    
	
 
    	
 
    
	
J.P.   MORGAN SECURITIES LLC
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Som Bhattacharyya
    	
 
    	
 
    
	
 
    	
Name:   Som Bhattacharyya
    	
 
    
	
 
    	
Title:   Executive Director
    	
 
    
	
 
    	
 
    
	
MERRILL   LYNCH, PIERCE, FENNER & SMITH
    	
 
    
	
INCORPORATED
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Laurie Campbell
    	
 
    	
 
    
	
 
    	
Name:   Laurie Campbell
    	
 
    
	
 
    	
Title:   Managing Director
    	
 
    
	
 
    	
 
    
	
WELLS   FARGO SECURITIES, LLC
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Carolyn Hurley
    	
 
    	
 
    
	
 
    	
Name:   Carolyn Hurley
    	
 
    
	
 
    	
Title:   Director
    	
 
    
	
 
    	
 
    
	
For   themselves and on behalf of the several
    	
 
    
	
Underwriters   listed in Schedule 1 hereto.
    	
 
    

 

[Signature Page to the Underwriting Agreement]

 

 

Schedule 1

 

 

 

	
Underwriters
    	
 
    	
Aggregate   Principal
   Amount of Notes to be
   Purchased
    	
 
    
	
J.P. Morgan Securities LLC
    	
 
    	
 $
    	
60,000,000
    	
 
    
	
Merrill Lynch, Pierce, Fenner & Smith
    Incorporated
    	
 
    	
60,000,000
    	
 
    
	
Wells Fargo Securities, LLC
    	
 
    	
60,000,000
    	
 
    
	
U.S. Bancorp Investments, Inc.
    	
 
    	
36,000,000
    	
 
    
	
BB&T Capital Markets, a division of BB&T Securities, LLC
    	
 
    	
12,000,000
    	
 
    
	
HSBC Securities (USA) Inc.
    	
 
    	
12,000,000
    	
 
    
	
ING Financial Markets LLC
    	
 
    	
12,000,000
    	
 
    
	
PNC Capital Markets LLC
    	
 
    	
12,000,000
    	
 
    
	
SMBC Nikko Securities America, Inc.
    	
 
    	
12,000,000
    	
 
    
	
SunTrust Robinson Humphrey, Inc.
    	
 
    	
12,000,000
    	
 
    
	
TD Securities (USA) LLC
    	
 
    	
12,000,000
    	
 
    
	
Total
    	
 
    	
   $
    	
300,000,000
    	
 
    
						

 

 

Schedule 2

 

Significant Subsidiaries

 

 

JLG EMEA Holdings C.V.

JLG Equity Holdings C.V.

JLG Industries, Inc.

McNeilus Companies, Inc.

Oshkosh Defense, LLC

OSK Industries LLC

Pierce Manufacturing Inc.

 

 

Annex A

 

 

Time of Sale Information

 

·                  Pricing Term Sheet, dated May 3, 2018, substantially in the form of Annex B hereto.

 

 

Annex B

 

 

Oshkosh Corporation

 

Pricing Term Sheet

 

$300,000,000 4.600% Senior Unsecured Notes due 2028

 

	
Issuer:
    	
Oshkosh Corporation
    
	
Format:
    	
SEC Registered
    
	
Ranking:
    	
Senior Unsecured
    
	
Trade   Date:
    	
May 3, 2018
    
	
Settlement   Date:
    	
May 17, 2018   (T+10)
    
	
Principal   Amount:
    	
$300,000,000
    
	
Maturity   Date:
    	
May 15, 2028
    
	
Interest   Payment Dates:
    	
May 15 and   November 15, commencing on November 15, 2018
    
	
Coupon   (Interest Rate):    
    	
4.600%
    
	
Public   Offering Price:
    	
99.652% of the   principal amount
    
	
Yield   to Maturity:
    	
4.644%
    
	
Spread   to Benchmark Treasury: 
    	
1.700%
    
	
Benchmark   Treasury:
    	
UST 2.750% due   February 15, 2028
    
	
Benchmark   Treasury Price / Yield:
    	
98-11+ / 2.944%
    
	
Make-Whole   Call:
    	
Prior to   February 15, 2028 (three months prior to the maturity date of the   notes), at greater of par and make-whole at discount rate of Treasury plus 25   basis points, plus accrued and unpaid interest to, but excluding, the   redemption date.
    
	
Par   Call:
    	
At any time on or after   February 15, 2028 (three months prior to the maturity date of the notes)   at a redemption price equal to 100% of the principal amount of the notes   being redeemed, plus accrued and unpaid interest to, but excluding, the   redemption date.
    
	
Joint-Book   Running Managers:
    	
J.P. Morgan   Securities LLC

Merrill Lynch,   Pierce, Fenner & Smith

Incorporated

Wells Fargo Securities,   LLC

U.S. Bancorp   Investments, Inc.
    
	
Co-Managers:
    	
BB&T   Capital Markets, a division of BB&T Securities, LLC
    

 

 

	
 
    	
HSBC   Securities (USA) Inc.

ING   Financial Markets LLC

PNC   Capital Markets LLC

SMBC   Nikko Securities America, Inc.

SunTrust   Robinson Humphrey, Inc.

TD   Securities (USA) LLC
    
	
CUSIP/ISIN:
    	
688239 AF9/   US688239AF99
    

 

 

It is expected that delivery of the notes will be made against payment therefore on or about May 17, 2018, which is the tenth business day following the date hereof (such settlement cycle being referred to as “T+10”). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the notes prior to the second business day before the delivery of the notes will be required, by virtue of the fact that the notes initially will settle in T+10, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement. Purchasers of the notes who wish to trade the notes on the date of pricing should consult their own advisors.

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC collect at (212) 834-4533; Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322; or Wells Fargo Securities, LLC toll-free at (800) 645-3751.

 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via Bloomberg or another email system.

 

2

 

 

 

 

 

 

ANNEX C

 

Form of Opinion of Foley & Lardner LLP

 

(1)                              The Registration Statement is an “automatic shelf registration statement” as defined under Rule 405 of the Securities Act that has been filed with the Commission not earlier than three years prior to the date of the Underwriting Agreement; the Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”); each of the Preliminary Prospectus and the Prospectus was filed with the Commission pursuant to the subparagraph of Rule 424(b) under the Securities Act specified in such opinion on the date specified therein; and no order suspending the effectiveness of the Registration Statement has been issued , no notice of objection of the Commission to the use of such registration statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act has been received by the Company and no proceeding for that purpose or pursuant to Section 8A of the Securities Act against the Company or in connection with the offering is pending or, to the knowledge of such counsel, threatened by the Commission.

 

(2)                              The Registration Statement, the Preliminary Prospectus, each Issuer Free Writing Prospectus included in the Time of Sale Information and the Prospectus (other than the financial statements and related schedules and other financial data included therein, as to which such counsel need express no opinion) comply as to form in all material respects with the requirements of the Securities Act; and the Indenture complies as to form in all material respects with the requirements of the Trust Indenture Act.

 

(3)                              The Company has the corporate power and authority to execute and deliver the Underwriting Agreement, the Securities and the Indenture and to perform its obligations thereunder; and all action required to be taken for the due and proper authorization, execution and delivery by the Company of the Underwriting Agreement, the Securities and the Indenture and the consummation by the Company of the transactions contemplated thereby or by the Registration Statement, the Time of Sale Information or the Prospectus has been duly and validly taken.

 

(4)                              The Indenture has been duly authorized, executed and delivered by the Company and (assuming the due authorization, execution and delivery thereof by the Trustee) constitutes a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors generally or by general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law).  The Indenture complies as to form in all material respects with the requirements of the Trust Indenture Act and the rules and regulations of the Commission applicable to an indenture qualified thereunder.

 

(5)                              The Securities are substantially in the form contemplated by the Indenture, have been duly authorized by the Company for issuance and sale pursuant to the Underwriting Agreement and the Indenture, have been duly executed by the Company and, when authenticated by the Trustee in the manner provided in the Indenture (assuming the due authorization,

 

 

execution and delivery of the Indenture by the Trustee) and issued and delivered against payment of the purchase price therefor as specified in the Underwriting Agreement, will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency (including, without limitation, all laws relating to fraudulent transfers), reorganization, moratorium or other similar laws relating to or affecting enforcement of the rights and remedies of creditors generally or by general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law), and will be entitled to the benefits of the Indenture.

 

(6)                              The Underwriting Agreement has been duly authorized, executed and delivered by the Company.

 

(7)         The Securities and the Indenture conform in all material respects to the descriptions thereof contained in the Registration Statement, the Time of Sale Information and the Prospectus.

 

(8)                              The statements in the Registration Statement, the Time of Sale Information and the Prospectus under the captions “Description of Notes” and “Material U.S. Federal Income Tax Considerations,” insofar as such statements constitute matters of law, summaries of legal matters or documents, or legal conclusions, have been reviewed by such counsel and are correct in all material respects.

 

(9)                              After giving effect to the application of the proceeds received by the Company from the offering and sale of the Securities as described in the Registration Statement, the Time of Sale Information and the Prospectus, the Company will not be required to register as an “investment company” or an entity “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended.

 

(10)                      The documents incorporated by reference in the Registration Statement, the Time of Sale Information and the Prospectus (other than the financial statements and related schedules and other financial data included therein or omitted therefrom, as to which such counsel need express no opinion), when they were filed with the Commission, appeared on their face, to be appropriately responsive in all material respects to the requirements of the Exchange Act and the rules and regulations of the Commission thereunder.

 

Such counsel shall also state that they have participated in conferences with representatives of the Company and with representatives of its registered public accounting firm and representatives of and counsel for the Underwriters, during which conferences the contents of the Registration Statement, the Time of Sale Information and the Prospectus and any amendment and supplement thereto and related matters were discussed and, although such counsel assume no responsibility for the accuracy, completeness or fairness of the Registration Statement, the Time of Sale Information, the Prospectus and any amendment or supplement thereto (except as expressly provided above), nothing has come to the attention of such counsel to cause such counsel to believe that the Registration Statement, at the time of its most recent effective date (including the information, if any, deemed pursuant to Rule 430A, 430B or 430C of the Securities Act part of the Registration Statement at the time of effectiveness), contained any 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, that the Time of Sale Information, at the Time of Sale, contained any untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading or that the Prospectus or any amendment or supplement thereto as of its date and the Closing Date contained or contains any untrue statement of a material fact or omitted or omits to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (other than, in each case, financial  statements, schedules or other financial data derived therefrom, or assessments of or reports on the effectiveness of internal control included or incorporated by reference therein or omitted therefrom, or the Trustee’s Statement on Eligibility on Form T-1 or any amendments or supplements thereto as to which such counsel need express no belief).

 

In rendering such opinion, such counsel may rely as to matters of fact on certificates of responsible officers of the Company and public officials that are furnished to the Underwriters.

 

The opinion of Foley & Lardner LLP described above shall be rendered to the Underwriters at the request of the Company and shall so state therein.

 

 

Annex D

 

[Form of Opinion of General Counsel of the Company]

 

(a)                               The Company and each of the Significant Subsidiaries are validly existing and, if applicable, in good standing under the laws of their respective jurisdictions of organization, are duly qualified to do business and are in good standing in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties and to conduct the businesses in which they are engaged as described in the Registration Statement, the Time of Sale Information and the Prospectus, except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the aggregate, have a Material Adverse Effect.

 

(b)                              All the outstanding shares of capital stock or other equity interests of each Significant Subsidiary have been duly and validly authorized and issued, are fully paid and non-assessable, except, in each case, where any such failure would not, individually or in the aggregate, have a Material Adverse Effect, and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security interest, restriction on voting or transfer or any other claim of any third party, except as may secure the obligations of the Company under the Credit Agreement.

 

(c)                               The execution, delivery and performance by the Company of the Underwriting and the Indenture, the issuance and sale of the Securities and the consummation of the transactions contemplated thereby will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a Default or a Debt Repayment Triggering Event under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, any Existing Instrument, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or any of the Significant Subsidiaries or (iii) result in the violation of any domestic law or statute or any judgment, order, rule  or regulation of any court or arbitrator or governmental or regulatory authority to which the Company or its subsidiaries are subject, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, Default, Debt Repayment Triggering Event, lien, charge or encumbrance that would not, individually or in the aggregate, have a Material Adverse Effect.

 

(d)                             No consent, approval, authorization, order, license, registration or qualification of or with any court or governmental or regulatory authority is required for the execution, delivery and performance by the Company of the Underwriting Agreement or the Indenture, the issuance and sale of the Securities and the consummation of the transactions contemplated thereby, except for such consents, approvals, authorizations, orders and registrations or qualifications as may be required by (i) FINRA and under the Securities Act and applicable state and foreign securities laws in connection with the offering and sale of the Securities by the Underwriters and (ii) under the Trust Indenture Act with respect to the Indenture, as to which such counsel need express no opinion.

 

 

(e)                               To the knowledge of such counsel, except as described in the Registration Statement, the Time of Sale Information and the Prospectus, there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or any of its subsidiaries is a party or to which any property of the Company or any of its subsidiaries is the subject which, individually or in the aggregate, if determined adversely to the Company or any of its subsidiaries, would reasonably be expected to have a Material Adverse Effect; and to the knowledge of such counsel, no such investigations, actions, suits or proceedings are threatened by any governmental or regulatory authority or threatened by others.

 

(f)                                The descriptions in the Registration Statement, the Time of Sale Information and the Prospectus of statutes, legal, governmental and regulatory proceedings and contracts and other documents are accurate in all material respects; and, to the knowledge of such counsel, there are no current or pending legal, governmental or regulatory actions, suits or proceedings that would be required under the Exchange Act to be described in an Annual Report on Form 10-K and that are not so described in the Registration Statement, the Time of Sale Information and the Prospectus.

 

In rendering such opinion, such counsel may rely as to matters of fact on certificates of responsible officers of the Company and public officials that are furnished to the Underwriters.

 

The opinion of the General Counsel of the Company described above shall be rendered to the Underwriters at the request of the Company and shall so state therein.

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