Document:

exv4w4

Exhibit 4.4

GUARANTEE

BY WASTE MANAGEMENT HOLDINGS, INC.

(formerly known as Waste Management, Inc.)

in Favor of The Bank of New York Mellon Trust Company, N.A., as Trustee for the Holders

of Certain Debt Securities of

WASTE MANAGEMENT, INC.

$500,000,000

2.60% Senior Notes due 2016

August 29, 2011

 

 

     GUARANTEE, dated as of August 29, 2011 (as amended from time to time, this “Guarantee”), made
by Waste Management Holdings, Inc. (formerly known as Waste Management, Inc.), a Delaware
corporation (the “Guarantor”), in favor of The Bank of New York Mellon Trust Company, N.A., as
trustee for the holders of the $500 million 2.60% Senior Notes due 2016 (the “Debt Securities”) of
Waste Management, Inc. (formerly known as USA Waste Services, Inc.), a Delaware corporation (the
“Issuer”).

WITNESSETH:

     SECTION 1. Guarantee

          (a) The Guarantor hereby unconditionally guarantees the punctual payment when due, whether at
stated maturity, by acceleration or otherwise, of the principal of, premium, if any, and interest
on the Debt Securities (the “Obligations”), according to the terms of the Debt Securities and as
more fully described in the Indenture (as amended, modified or otherwise supplemented from time to
time, the “Indenture”), dated as of September 10, 1997, between the Issuer, as successor to USA
Waste Services, Inc., and The Bank of New York Mellon Trust Company, N.A. (the current successor to
Texas Commerce Bank National Association), as trustee (the “Trustee”).

          (b) It is the intention of the Guarantor that this Guarantee not constitute a fraudulent
transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the
Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
this Guarantee. To effectuate the foregoing intention, the amount guaranteed by the Guarantor under
this Guarantee shall be limited to the maximum amount as will, after giving effect to such maximum
amount and all other contingent and fixed liabilities of the Guarantor (other than guarantees of
the Guarantor in respect of subordinated debt) that are relevant under such laws, result in the
Obligations of the Guarantor under this Guarantee not constituting a fraudulent transfer or
conveyance. For purposes hereof, “Bankruptcy Law” means Title 11, U.S. Code, or any similar Federal
or state law for the relief of debtors.

     SECTION 2. Guarantee Absolute. The Guarantor guarantees that the Obligations will be paid
strictly in accordance with the terms of the Indenture, regardless of any law, regulation or order
now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of holders
of the Debt Securities with respect thereto. The liability of the Guarantor under this Guarantee
shall be absolute and unconditional irrespective of:

     (i) any lack of validity or enforceability of the Indenture, the Debt Securities or any
other agreement or instrument relating thereto;

     (ii) any change in the time, manner or place of payment of, or in any other term of, all or
any of the Obligations, or any other amendment or waiver of or any consent to departure from the
Indenture;

     (iii) any exchange, release or non-perfection of any collateral, or any release or
amendment or waiver of or consent to departure from any other guaranty, for all or any of the
Obligations; or

 

 

     (iv) any other circumstance which might otherwise constitute a defense available to, or a
discharge of, the Issuer or a guarantor.

     SECTION 3. Subordination. The Guarantor covenants and agrees that its obligation to make
payments of the Obligations hereunder constitutes an unsecured obligation of the Guarantor ranking
(a) pari passu with all existing and future senior indebtedness of the Guarantor and (b) senior in
right of payment to all existing and future subordinated indebtedness of the Guarantor.

     SECTION 4. Waiver; Subrogation

          (a) The Guarantor hereby waives notice of acceptance of this Guarantee, diligence,
presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy
of the Issuer, any right to require a proceeding filed first against the Issuer, protest or notice
with respect to the Debt Securities or the indebtedness evidenced thereby and all demands
whatsoever.

          (b) The Guarantor shall be subrogated to all rights of the Trustee or the holders of any Debt
Securities against the Issuer in respect of any amounts paid to the Trustee or such holder by the
Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall
not be entitled to enforce, or to receive any payments arising out of, or based upon, such right of
subrogation until all Obligations shall have been paid in full.

     SECTION 5. No Waiver, Remedies. No failure on the part of the Trustee or any holder of the
Debt Securities to exercise, and no delay in exercising, any right hereunder shall operate as a
waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other
or further exercise thereof or the exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.

     SECTION 6. Continuing Guarantee; Transfer of Interest. This Guarantee is a continuing
guaranty and shall (i) remain in full force and effect until the earliest to occur of (A) the date,
if any, on which the Guarantor shall consolidate with or merge into the Issuer or any successor
thereto, (B) the date, if any, on which the Issuer or any successor thereto shall consolidate with
or merge into the Guarantor, (C) payment in full of the Obligations and (D) the release by the
lenders under the Amended and Restated Revolving Credit Agreement dated May 9, 2011, by and among
the Issuer, the Guarantor (as guarantor), Bank of America, N.A., as administrative agent, J.P.
Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Barclays Capital, as
lead arrangers and joint book runners (or under any replacement or new principal credit facility of
the Issuer) of the guarantee of the Guarantor thereunder, (ii) be binding upon the Guarantor, its
successors and

 

 

assigns, and (iii) inure to the benefit of and be enforceable by any holder of Debt Securities, the
Trustee, and by their respective successors, transferees, and assigns.

     SECTION 7. Reinstatement. This Guarantee shall continue to be effective or be reinstated,
as the case may be, if at any time any payment of any of the Obligations is rescinded or must
otherwise be returned by any holder of the Debt Securities or the Trustee upon the insolvency,
bankruptcy or reorganization of the Issuer or otherwise, all as though such payment had not been
made.

     SECTION 8. Amendment. The Guarantor may amend this Guarantee at any time for any purpose
without the consent of the Trustee or any holder of the Debt Securities; provided, however, that if
such amendment adversely affects the rights of the Trustee or any holder of the Debt Securities,
the prior written consent of the Trustee shall be required.

     SECTION 9. Governing Law. THIS GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PROVISIONS THEREOF RELATING TO
CONFLICT OF LAWS.

     IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed and delivered
by its officer thereunto duly authorized as of the date first above written.

	 	 	 	 	 	 	 

	 	 	WASTE MANAGEMENT HOLDINGS, INC.,	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Cherie C. Rice
	 	 
	 

	 	 	 	Vice President — Finance and Treasurer	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

Devina Rankin
	 	 
	 

	 	 	 	Assistant Treasurer	 	 

Signature page to Guaranteeexv10w7

Exhibit
10.7

PROMISSORY NOTE

			
	$200,000
	 	August 23, 2011

Hopkinton, Massachusetts

     FOR VALUE RECEIVED, Alseres Pharmaceuticals, Inc. (the “Maker”), promises to pay to Robert L
Gipson, or order, at the offices of Robert L. Gipson, c/o Ingalls & Snyder LLC, 61 Broadway, New
York, New York 10006 or at such other place as the holder of this Note may designate, the principal
sum of $100,000, together with interest on the unpaid principal balance of this Note from time to
time outstanding at the rate of 7% per year until paid in full. All principal and accrued interest
shall be due and payable on demand of the Holder.

Interest on this Note shall be computed on the basis of a year of 365 days for the actual number of
days elapsed. All payments by the Maker under this Note shall be in immediately available funds.

Every amount overdue under this Note shall bear interest from and after the date on which such
amount first became overdue at an annual rate which is two (2) percentage points above the rate per
year specified in the first paragraph of this Note. Such interest on overdue amounts under this
Note shall be payable on demand and shall accrue and be compounded monthly until the obligation of
the Maker with respect to the payment of such interest has been discharged (whether before or after
judgment).

In no event shall any interest charged, collected or reserved under this Note exceed the maximum
rate then permitted by applicable law and if any such payment is paid by the Maker, then such
excess sum shall be credited by the holder as a payment of principal.

All payments by the Maker under this Note shall be made without set-off or counterclaim and be free
and clear and without any deduction or withholding for any taxes or fees of any nature whatever,
unless the obligation to make such deduction or withholding is imposed by law. The Maker shall pay
and save the holder harmless from all liabilities with respect to or resulting from any delay or
omission to make any such deduction or withholding required by law.

Whenever any amount is paid under this Note, all or part of the amount paid may be applied to
principal, premium or interest in such order and manner as shall be determined by the holder in its
discretion.

No reference in this Note to any guaranty or other document shall impair the obligation of the
Maker, which is absolute and unconditional, to pay all amounts under this Note strictly in
accordance with the terms of this Note.

The Maker agrees to pay on demand all costs of collection, including reasonable attorneys’ fees,
incurred by the holder in enforcing the obligations of the Maker under this Note.

 

No delay or omission on the part of the holder in exercising any right under this Note shall
operate as a waiver of such right or of any other right of such holder, nor shall any delay,
omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right
on any future occasion. The Maker and every endorser or guarantor of this Note regardless of the
time, order or place of signing waives presentment, demand, protest and notices of every kind and
assents to any extension or postponement of the time of payment or any other indulgence, to any
substitution, exchange or release of collateral, and to the addition or release of any other party
or person primarily or secondarily liable.

This Note may be prepaid in whole or in part at any time or from time to time upon five days’ prior
written notice with the consent of the holder, with the giving of such consent to be in the sole
discretion of the holder. Any such prepayment shall be without penalty or premium.

None of the terms or provisions of this Note may be excluded, modified or amended except by a
written instrument duly executed on behalf of the holder expressly referring to this Note and
setting forth the provision so excluded, modified or amended.

All rights and obligations hereunder shall be governed by the laws of the Commonwealth of
Massachusetts and this Note is executed as an instrument under seal.

	 	 	 	 	 
	 	Alseres Pharmaceuticals, Inc.

 	 
	 	By:  	/s/Kenneth L. Rice Jr
 	 
	 	 	Title: EVP & CFO

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