Document:

EX-4.4

 

Exhibit
4.4

[Rule 144A] [Regulation S] Global Security

REALOGY CORPORATION

6.50% Senior Notes Due 2016

     UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST
COMPANY, A NEW YORK CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, AND ANY
PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.

     THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “SECURITIES ACT”).
THE HOLDER HEREOF, BY PURCHASING THIS SECURITY, AGREES FOR THE BENEFIT OF THE COMPANY THAT (A)
THIS SECURITY MAY NOT BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED (X) PRIOR TO THE SECOND
ANNIVERSARY OF THE ISSUANCE HEREOF (OR ANY PREDECESSOR SECURITY HERETO) OR (Y) BY ANY HOLDER THAT
WAS AN AFFILIATE OF THE COMPANY AT ANY TIME DURING THE THREE MONTHS PRECEDING THE DATE OF SUCH
TRANSFER, IN EITHER CASE OTHER THAN (1) TO THE COMPANY, (2) SO LONG AS THIS SECURITY IS ELIGIBLE
FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON WHOM THE
SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE MEANING OF RULE 144A,
PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE RESALE, PLEDGE OR OTHER TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (3) TO
AN INSTITUTIONAL ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(A)(1), (2), (3) OR (7) OF
REGULATION D UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR
THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A TRANSACTION INVOLVING A
MINIMUM PRINCIPAL AMOUNT OF $250,000 OF SECURITIES, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO
OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (4) IN
AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT, (5) PURSUANT TO
ANY

 

 

EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OR (6) PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT, IN EACH CASE IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES; (B) THE HOLDER WILL NOTIFY ANY PURCHASER OF
NOTES FROM IT OF THE RESALE RESTRICTIONS REFERRED TO IN (A) ABOVE, IF THEN APPLICABLE; AND (C) WITH
RESPECT TO ANY TRANSFER OF NOTES PURSUANT TO CLAUSES (A)(3), (A)(4) or (A)(5), THE HOLDER WILL
DELIVER TO THE COMPANY AND THE TRUSTEE AN OPINION OF COUNSEL, CERTIFICATES AND OTHER INFORMATION AS
THE COMPANY OR THE TRUSTEE MAY REQUIRE TO CONFIRM THAT THE TRANSFER BY IT COMPLIES WITH THE
FOREGOING RESTRICTIONS.

     THIS SECURITY IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS SECURITY)
OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE
TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (A) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS
MAY BE REQUIRED PURSUANT TO SECTION 2.04 OF THE INDENTURE, (B) THIS SECURITY MAY BE EXCHANGED IN
WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.15(B) OF THE INDENTURE, (C) THIS SECURITY MAY BE
DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.13 OF THE INDENTURE AND (D) EXCEPT
AS OTHERWISE PROVIDED IN SECTION 2.15(B) OF THE INDENTURE, THIS SECURITY MAY BE TRANSFERRED, IN
WHOLE BUT NOT IN PART, ONLY (X) BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY, (Y) BY A NOMINEE
OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR (Z) BY THE DEPOSITARY
OR ANY NOMINEE TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

 

 

CUSIP:                     

ISIN:                     

COMMON CODE:                     

6.50% Senior Notes Due 2016

			
	No. ___
	 	$                     

REALOGY CORPORATION

promises to pay to                      or registered assigns, the principal sum of                     
($                    ) as such amount may be adjusted as set forth on the Schedule of Exchanges,
Redemptions, Repurchases, Cancellations and Transfers annexed hereto on October 15, 2016.

Interest Payment Dates: April 15 and October 15, commencing on April 15, 2007.

Records Dates: April 1 and October 1.

          IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed.

	 	 	 	 	 	 	 
	 	 	REALOGY CORPORATION,	 	 
	 
	 	 	 	 	 	 
	 

	 	by	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

 

 

TRUSTEE’S CERTIFICATE OF

AUTHENTICATION

Dated:

WELLS FARGO BANK, NATIONAL ASSOCIATION,

by                                         

     Authorized Signatory

 

 

[Reverse of Note]

REALOGY CORPORATION

6.50% Senior Notes Due 2016

1. Indenture

          This Security is one of a duly authorized issue of Securities of the Company, designated as
its 6.50% Senior Notes Due 2016 (herein called the “Notes,” which expression includes any further
notes issued as described in Section 9 below and forming a single series therewith), issued and to
be issued under an indenture, dated as of October 20, 2006 (herein called the “Indenture”), between
REALOGY CORPORATION, a Delaware corporation (such company, and its successors and assigns under the
Indenture hereinafter referred to, being herein called the “Company”), and WELLS FARGO BANK,
NATIONAL ASSOCIATION, as trustee (the “Trustee”), to which Indenture and all indentures
supplemental thereto relevant to the Notes reference is hereby made for a complete description of
the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee,
the Company and the Holders of the Notes. Capitalized terms used but not defined in this Note
shall have the meanings ascribed to them in the Indenture.

          Each Note is subject to, and qualified by, all such terms as set forth in the Indenture
certain of which are summarized herein and each Holder of a Note is referred to the corresponding
provisions of the Indenture for a complete statement of such terms. To the extent that there is
any inconsistency between the summary provisions set forth in the Notes and the Indenture, the
provisions of the Indenture shall govern.

2. Interest

     (a) The Company promises to pay interest on the principal amount of this Note at the rate per
annum shown above. The Company will pay interest semiannually on April 15 and October 15 of each
year, commencing April 15, 2007, to the Holders of record on the immediately preceding April 1 or
October 1 (each a Record Date). Interest on the Notes will accrue from the most recent date to
which interest has been paid or, if no interest has been paid, from October 20, 2006. Interest
shall be computed on the basis of a 360-day year of twelve 30-day months.

     The period beginning on, and including, October 20, 2006 and ending on, but excluding, the
next Interest Payment Date thereafter, and each successive six-month period beginning on, and
including, an Interest Payment Date and ending on, but excluding, the next succeeding Interest
Payment Date is herein called an “Interest Period.”

     (b) Interest Rate Adjustment. The interest rate payable on this Note will be subject
to adjustment from time to time if either Moody’s or S&P downgrades (or subsequently upgrades) the
debt rating applicable to this Note (a “rating”) as set forth below.

 

 

     If the rating from Moody’s is decreased to a rating set forth in the immediately following
table, the interest rate on this Note will increase from that set forth in paragraph (a) above by
the percentage set forth opposite that rating:

	 	 	 	 	 
	Rating	 	Percentage
	Ba1
	 	 	.25	%
	Ba2
	 	 	.50	%
	Ba3
	 	 	.75	%
	B1 or below
	 	 	1.00	%

     If the rating from S&P is decreased to a rating set forth in the immediately following table,
the interest rate on this Note will increase from that set forth in paragraph (a) above by the
percentage set forth opposite that rating:

	 	 	 	 	 
	Rating	 	Percentage
	BB+
	 	 	.25	%
	BB
	 	 	.50	%
	BB-
	 	 	.75	%
	B+ or below
	 	 	1.00	%

     If, following an interest rate adjustment, Moody’s or S&P subsequently increases or decreases
its rating to any of the threshold ratings set forth above, the interest rate of this Note will be
increased or decreased such that the interest rate for this Note equals the interest rate set forth
in paragraph (a) above plus (1) the interest rate adjustment, if any, then in effect resulting from
an increase or decrease in the other Rating Agency’s rating and (2) the percentage set forth
opposite the applicable rating from the applicable table above for the Rating Agency that increased
or decreased its rating. Each adjustment required by any decrease or increase in a rating set forth
above, whether occasioned by the action of Moody’s or S&P, shall be made independent of any and all
other adjustments. In no event shall (1) the interest rate for this Note be reduced to below the
interest rate set forth in paragraph (a) above, and (2) the total increase in the interest rate on
this Note exceed 2.00% above the interest rate set forth in paragraph (a) above. If, following an
interest rate adjustment, Moody’s increases its rating to Baa3 or higher and S&P increases its
rating to BBB- or higher, the interest rate of this Note will remain at, or be decreased to, as the
case may be, the interest rate set forth in paragraph (a) above and no subsequent downgrades in a
rating shall result in an adjustment of the interest rate on this Note as provided herein.

     If either Moody’s or S&P ceases to provide a rating, any subsequent increase or decrease in
the interest rate of this Note necessitated by a reduction or increase in the rating by the Rating
Agency continuing to provide the rating shall be twice the percentage set forth in the applicable
table above, and the required ratings increase set forth in the last sentence of the preceding
paragraph shall only apply to the Rating Agency continuing to provide the rating. No adjustments in
the interest rate of this note shall be made solely as a result of either Moody’s or S&P (but not
both) ceasing to

 

 

provide a rating. If both Moody’s and S&P cease to provide a rating, the interest rate on this
Note will increase to, or remain at, as the case may be, 2.00% above the interest rate set forth in
paragraph (a) above.

     Any interest rate increase or decrease, as described above, will take effect from the first
day of the Interest Period during which a rating change requires an adjustment in the interest
rate.

     (c) Additional Interest. The Holder of this Note is entitled to the benefits of a
Registration Rights Agreement, dated as of October 20, 2006, between the Company and the initial
purchasers named therein (the “Registration Agreement”). Capitalized terms used in this paragraph
(b) but not defined herein have the meanings assigned to them in the Registration Agreement. In
the event that neither the Registered Exchange Offer has been consummated nor the Shelf
Registration Statement has been declared effective on or prior to the 360th day following the date
of the original issuance of the Notes (each such event referred to as a “Registration Default”),
interest (the “Additional Interest”) shall accrue (in addition to stated interest on the Notes)
from and including the date on which the first such Registration Default shall occur to but
excluding the date on which all Registration Defaults have been cured, at a rate per annum equal to
0.25% of the principal amount of the Notes; provided, however, that such rate per
annum shall increase by 0.25% per annum from and including the 90th day after the first such
Registration Default (and each successive 90th day thereafter) unless and until all Registration
Defaults have been cured; provided further, however, that in no event shall the
Additional Interest accrue at a rate in excess of 1.00% per annum. The Additional Interest will be
payable in cash semiannually in arrears each April 15 and October 15.

3. Paying Agent, Registrar and Service Agent

     Initially, the Trustee will act as paying agent, registrar and service agent. The Company may
appoint and change any paying agent, registrar or co-registrar and service agent without notice.
The Company or any of its Subsidiaries may act as paying agent, registrar, co-registrar or service
agent.

4. Defaults and Remedies; Waiver

          If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in
aggregate principal amount of the outstanding Notes, subject to certain limitations, may declare
all the Notes due and payable immediately. In the case of an Event of Default resulting from
certain events of bankruptcy, insolvency or reorganization, the principal (or such specified
amount) and premium, if any, of all outstanding Notes will become and be immediately due and
payable without any declaration or other act by the Trustee or any Holder of outstanding Notes.

          Holders of Notes may not enforce the Indenture or the Notes except as provided in the
Indenture. The Trustee may refuse to enforce the Indenture or the Notes unless it receives
reasonable indemnification. Subject to certain limitations, Holders of a

 

 

majority in aggregate principal amount of the Notes then outstanding may direct the Trustee in
its exercise of any trust or power under the Indenture.

          At any time after the principal of the Notes shall have been so declared due and payable (or
have become immediately due and payable), and before any judgment or decree for the payment of the
moneys due shall have been obtained or entered, the Holders of a majority in aggregate principal
amount of the Notes then outstanding under the Indenture, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if (i) the Company has paid or
deposited with the Trustee a sum sufficient to pay all matured installments of interest upon all
the Notes and the principal of (and premium, if any, on) any and all Notes that shall have become
due otherwise than by acceleration (with interest upon such principal and premium, if any, and, to
the extent that such payment is enforceable under applicable law, upon overdue installments of
interest, at the rate per annum expressed in the Notes to the date of such payment or deposit) and
the amount payable to the Trustee under Section 7.07 of the Indenture and (ii) any and all existing
Events of Default under the Indenture with respect to the Notes, other than the nonpayment of
principal on Notes that shall not have become due by their terms, shall have been remedied or
waived as provided in Section 6.04 of the Indenture. No such rescission shall affect any
subsequent Default or impair any right consequent thereto.

          The Holders of a majority in principal amount of the Notes by notice to the Trustee may waive
an existing Default and its consequences except a Default in the payment of the principal amount of
premium, if any, and accrued and unpaid interest on a Note. When a Default is waived, it is deemed
cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent
right.

5. Amendment

          In addition to any supplemental indenture otherwise authorized by the Indenture, the Company
and the Trustee may from time to time and at any time enter into supplemental indentures (which
shall conform to the provisions of the Trust Indenture Act as then in effect), without the consent
of any Holder of Notes, for one or more of the following purposes: (i) to evidence the succession
of another person to the Company and the assumption by such successor of the Company’s covenants,
agreements and obligations; (ii) to surrender any right or power conferred upon the Company by the
Indenture, to add to the covenants of the Company such further covenants, restrictions, conditions
or provisions for the protection of the Holders of all or any Notes as the Board of Directors of
the Company shall consider to be for the protection of the Holders of such Notes, and to make the
occurrence, or the occurrence and continuance, of a default in respect of any such additional
covenants, restrictions, conditions or provisions a Default or an Event of Default under the
Indenture; provided, however, that with respect to any such additional covenant,
restriction, condition or provision, such amendment may provide for a period of grace after
default, which may be shorter or longer than that allowed in the case of other Defaults, may
provide for an immediate enforcement upon such Default, may limit the remedies available to the
Trustee upon such Default or may limit the right of Holders of a majority in aggregate principal
amount of the Notes to

 

 

waive such default; (iii) to cure any ambiguity, omission, defect or inconsistency or correct
or supplement any provision contained in the Indenture, in any supplemental indenture or in any
Notes that may be defective or inconsistent with any other provision contained therein; (iv) to
convey, transfer, assign, mortgage or pledge any property to or with the Trustee, or to make such
other provisions in regard to matters or questions arising under the Indenture as shall not
adversely affect the interests of any Holders of Notes; (v) to modify or amend the Indenture in
such a manner as to permit the qualification of the Indenture or any supplemental indenture thereto
under the Trust Indenture Act as then in effect; (vi) to add or to change any of the provisions of
the Indenture to provide that Notes in bearer form may be registrable as to principal, to change or
eliminate any restrictions on the payment of principal or premium with respect to Notes in
registered form or of principal, premium or interest with respect to Notes in bearer form, or to
permit Notes in registered form to be exchanged for Notes in bearer form, so as to not adversely
affect the interests of the Holders or any coupons in any material respect or permit or facilitate
the issuance of Notes in uncertificated form; (vii) to secure or guarantee the Notes; (viii) to
make any change that does not adversely affect the rights of any Holder; (ix) to add to, change, or
eliminate any of the provisions of the Indenture with respect to the Notes, so long as any such
addition, change or elimination not otherwise permitted under the Indenture shall (A) neither apply
to any Note created prior to the execution of such supplemental indenture and entitled to the
benefit of such provision nor modify the rights of the Holders of any such Note with respect to the
benefit of such provision or (B) become effective only when there is no such Note outstanding; or
(x) to evidence and provide for the acceptance of appointment by a successor or separate Trustee
with respect to the Notes and to add to or change any of the provisions of the Indenture as shall
be necessary to provide for or facilitate the administration of the Indenture by more than one
Trustee.

          With the written consent (as evidenced as provided in Section 9.02 of the Indenture) of the
Holders of at least a majority in principal amount of the Notes at the time outstanding affected by
such amendment (including consents obtained in connection with a tender offer or exchange offer for
the Notes), the Company and the Trustee, may amend the Indenture without notice to any Holder;
provided that no such amendment shall, without the consent of the Holders of each Note then
outstanding and affected thereby, (i) change the percentage of principal amount of Notes whose
Holders must consent to an amendment, modification, supplement or waiver; (ii) reduce the rate of
or extend the time for payment of interest on any Note; (iii) reduce the principal of or extend
the Stated Maturity of any Note; (iv) reduce the amount payable upon the redemption of any Note or
add redemption provisions to any Note; (v) make any Note payable in money other than that stated in
the Note; or (vi) make any change in the Sections of the Indenture relating to waivers of past
defaults and the rights of Holders to receive payments, or in the foregoing amendment and waiver
provisions. It shall not be necessary for the consent of the Holders to approve the particular
form of any proposed amendment, but it shall be sufficient if such consent approves the substance
thereof.

          Any consent to an amendment or a waiver by the Holder of this Note (unless revoked as provided
in the Indenture) shall be conclusive and binding upon such Holder and upon all future Holders and
owners of this Note and any Notes that may be

 

 

issued in exchange or substitution hereof, irrespective of whether or not any notation thereof
is made upon this Note or such other Notes. Any Holder or subsequent Holder may revoke its consent
if the Trustee receives the notice of revocation before the date the amendment or waiver becomes
effective. Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay
or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder
for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of
the Indenture or the Notes unless such consideration is offered to be paid to all Holders, ratably,
that so consent, waive or agree to amend.

6. Obligations Absolute

          No reference herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Company, which is absolute and unconditional, to pay the
principal of and any premium and interest on this Note at the place, at the respective times, at
the rate and in the coin or currency herein prescribed.

7. Sinking Fund

          The Notes shall not be redeemable at the option of any Holder thereof, upon the occurrence of
any particular circumstances or otherwise. The Notes will not have the benefit of any sinking
fund.

8. Denominations; Transfer; Exchange

          The Notes are issuable in registered form without coupons in denominations of $1,000 principal
amount and integral multiples of $1,000 in addition thereto. When Notes are presented to the
Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal
principal amount of Securities of the same Series, the Registrar shall register the transfer or
make the exchange in the manner and subject to the limitations provided in the Indenture, without
payment of any service charge but with payment of a sum sufficient to cover any transfer tax or
other governmental charge that may be imposed in connection with any registration or exchange of
Notes.

          The Company and the Registrar shall not be required (a) to issue, register the transfer of or
exchange any Notes during a period beginning at the opening of business 15 days before the day of
the mailing of a notice of redemption of Notes of that Series selected for redemption and ending at
the close of business on the day of such mailing or (b) to register the transfer or exchange of
Notes of any Series selected, called or being called for redemption as a whole or the portion being
redeemed of any such Securities selected, called or being called for redemption in part.

9. Further Issues

          The Company may from time to time, without the consent of the Holders of the Notes and in
accordance with the Indenture, create and issue further notes having

 

 

the same terms and conditions as the Notes in all respects (or in all respects except for the
first payment of interest) so as to form a single series with the Notes.

10. Optional Redemption

          The Notes may be redeemed at the Company’s option, upon notice as set forth in the Indenture,
in whole at any time or in part from time to time, at a redemption price equal to (A) the greater
of (i) 100% of the principal amount of the Notes to be redeemed on the redemption date or (ii) the
sum of the present values of the remaining scheduled payments of principal and interest on the
Notes being redeemed on that redemption date (not including any portion of any payment of interest
accrued to the redemption date) discounted to the redemption date on a semi-annual basis at the
Treasury Rate, plus 30 basis points, as determined by the Reference Treasury Dealer, plus (B) in
each case, accrued and unpaid interest on the Notes to the redemption date; provided that
if the date fixed for redemption is a date on or after the Record Date and on or before the next
following Interest Payment Date, then the interest payable on such date shall be paid to the Holder
of record on the relevant Record Date.

          “Comparable Treasury Issue” means the U.S. Treasury security selected by the Independent
Investment Banker as having a maturity comparable to the remaining term of the Notes to be redeemed
that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the
remaining term of the Notes.

          “Comparable Treasury Price” means (1) the average of four Reference Treasury Dealer Quotations
for such redemption date, after excluding the highest and lowest Reference Treasury Dealer
Quotations, or (2) if the Trustee obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations.

          “Independent Investment Banker” means one of the Reference Treasury Dealers selected by the
Company.

          “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for
the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee at 5:00 p.m., New York City time, on the third Business Day
preceding such redemption date.

          “Reference Treasury Dealers” means (a) J.P. Morgan Securities Inc., (b) Barclays Capital Inc.
and (c) two additional primary dealers of U.S. government securities in New York City that the
Company appoints to act as a Reference Treasury Dealer from time to time, in each case and their
respective successors; provided, however, that if any of the foregoing ceases to be
a primary dealer of U.S. government securities in New York City, the Company shall substitute
another primary dealer of U.S. government securities.

          “Treasury Rate” means, with respect to any redemption date: (a) the yield, under the heading
which represents the average for the immediately preceding week,

 

 

appearing in the most recently published statistical release designated “H.15 (519)” or any
successor publication which is published weekly by the Board of Governors of the Federal Reserve
System and which establishes yields on actively traded U.S. Treasury securities adjusted to
constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding
to the Comparable Treasury Issue (if no maturity is within three months before or after the
remaining life (as defined below), yields for the two published maturities most closely
corresponding to the Comparable Treasury Issue will be determined and the Treasury Rate will be
interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest
month); or (b) if such release (or any successor release) is not published during the week
preceding the calculation date or does not contain such yields, the rate per annum equal to the
semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such redemption date. The Treasury Rate will be calculated on the
third Business Day preceding the date fixed as a redemption date.

11. Persons Deemed Owners

          The ownership of Notes shall be proved by the register maintained by the Registrar.

12. No Recourse Against Others

          A director, officer, employee or shareholder, as such, of any Company shall not have any
liability for any obligations of the Company under the Notes or the Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. By accepting a Note,
each Holder shall waive and release all such liability. This waiver and release shall be part of
the consideration for the issuance of the Notes.

13. Discharge and Defeasance

          Subject to certain conditions set forth in the Indenture, the Company at any time may
terminate some or all of its obligations under the Notes and the Indenture if the Company deposits
with the Trustee money and/or U.S. Government Obligations for the payment of principal of, premium,
if any, and interest on the Notes to redemption or maturity, as the case may be.

14. Unclaimed Money

          Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in
trust for the payment of the principal of, premium, if any, or interest on any Note and remaining
unclaimed for two years after such principal, and premium, if any, or interest has become due and
payable shall be paid to the Company on its request or, if then held by the Company, shall be
discharged from such trust. Thereafter the Holder of such Note shall look only to the Company for
payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust
money, and all liability of the Company as trustee thereof, shall thereupon cease.

 

 

15. Trustee Dealings with the Company

          Subject to certain limitations imposed by the Trust Indenture Act, the Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal
with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any
Paying Agent, Registrar or co-paying agent may do the same with like rights.

16. Abbreviations

          Customary abbreviations may be used in the name of a Holder or an assignee, such as TEN COM
(=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of
survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors
Act).

17. CUSIP Numbers

          Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification
Procedures, the Company has caused CUSIP numbers to be printed on the Notes and has directed the
Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as
contained in any notice of redemption and reliance may be placed only on the other identification
numbers placed thereon.

18. Rule 144A Information

          The Company will furnish to Holders of the Notes and to prospective investors, upon request,
any information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act so
long as the Notes are not freely transferable under the Securities Act.

19. Change of Control Offer

          Upon the occurrence of a Change of Control Triggering Event, unless the Company has exercised
its right to redeem the Notes, each Holder will have the right to require the Company to repurchase
all or any part (equal to $1,000 or an integral multiple thereof) of each Holder’s Notes pursuant
to the offer described below (the “Change of Control Offer”) at a purchase price equal to 100% of
the aggregate principal amount thereof plus accrued and unpaid interest, if any, to the date of
purchase (the “Change of Control Payment”). Within 30 days following any Change of Control
Triggering Event, the Company shall mail a notice to each Holder describing the transaction or
transactions that constitute the Change of Control Triggering Event and offering to repurchase the
Notes on the date specified in the notice, which date will be no earlier than 30 days and no later
than 60 days from the date such notice is mailed (the “Change of Control Payment Date”), pursuant
to the procedures required by the Indenture and described in such notice. The Company shall comply
with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent such laws and regulations are applicable in connection with
the repurchase of Notes as a result

 

 

of a Change of Control Triggering Event. To the extent that the provisions of any securities
laws or regulations conflict with this provision, the Company will comply with the applicable
securities laws and regulations and will not be deemed to have breached its obligations under this
provision by virtue of such conflict.

          On the Change of Control Payment Date, the Company shall, to the extent lawful, (i) accept for
payment all Notes or portions thereof properly tendered pursuant to the Change of Control Offer,
(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of
all Notes or portions thereof properly tendered and (iii) deliver or cause to be delivered to the
Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate
principal amount of Notes or portions thereof being purchased by the Company. The Paying Agent
shall promptly mail to each Holder of Notes properly tendered the Change of Control Payment for
such Notes, and the Trustee shall promptly authenticate and mail (or cause to be transferred by
book entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the
Notes surrendered by such Holder, if any; in denominations as set forth in the Indenture. The
Company shall publicly announce the results of the Change of Control Offer on or as soon as
practicable after the Change of Control Payment Date. The Company will not be required to make a
Change of Control Offer upon a Change of Control Triggering Event if a third Person makes the
Change of Control Offer in the manner, at the times and otherwise in compliance with the
requirements set forth in this provision applicable to a Change of Control Offer made by the
Company and purchases all Notes properly tendered and not withdrawn under such Change of Control
Offer.

          The Company’s obligation to repurchase Notes pursuant to a Change of Control Offer shall
terminate following a Covenant Defeasance pursuant to Section 8.03 of the Indenture.

          “Below Investment Grade Rating Event” means the Notes are rated below an Investment Grade
Rating by each of the Rating Agencies on any date from the date of the public notice of an
arrangement that could result in a Change of Control until the end of the 60-day period following
public notice of the occurrence of the Change of Control (which 60-day period shall be extended so
long as the rating of the Notes is under publicly announced consideration for possible downgrade by
any of the Rating Agencies).

          “Change of Control” means the occurrence of any of the following: (1) the direct or indirect
sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in
one or a series of related transactions, of all or substantially all of the properties or assets of
the Company and its Subsidiaries taken as a whole to any “person” (as that term is used in Section
13(d)(3) of the Exchange Act) other than the Company or one of its Subsidiaries; (2) the adoption
of a plan relating to the liquidation or dissolution of the Company; (3) the consummation of any
transaction (including, without limitation, any merger or consolidation) the result of which is
that any “person” (as defined above), becomes the beneficial owner, directly or indirectly, of more
than 50% of the Company’s Voting Stock; or (4) the first day on which a majority of the members of
the Company’s Board of Directors are not Continuing Directors.

 

 

          “Change of Control Triggering Event” means the occurrence of both a Change of Control and a
Below Investment Grade Rating Event.

          “Continuing Directors” means, as of any date of determination, any member of the Board of
Directors of the Company who (1) was a member of such Board of Directors on the date of this
Certificate; or (2) was nominated for election or elected to such Board of Directors with the
approval of a majority of the Continuing Directors who were members of such Board of Directors at
the time of such nomination or election.

          “Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P.

          “Moody’s” means Moody’s Investors Service, Inc.

          “Rating Agency” means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P ceases
to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside the
Company’s control, a “nationally recognized statistical rating organization” within the meaning of
Rule 15c3-1(c)(2)(vi)(F) under the Exchange Act selected by the Company (as certified by a Board
Resolution) as a replacement agency for Moody’s or S&P, or both, as the case may be.

          “S&P” means Standard & Poor’s Rating Services, a division of The McGraw-Hill Companies, Inc.

          The Company will furnish to any Holder of Notes upon written request and without charge to the
Holder a copy of the Indenture.

 

 

ASSIGNMENT FORM

          For value received                     hereby sell(s), assign(s) and transfer(s) unto
                    (please insert social security or other identifying number of assignee) the within
Note, and hereby irrevocably constitutes and appoints                     attorney to transfer the
said Note on the books of the Company, with full power of substitution in the premises.

          In connection with any transfer of the within Note occurring prior to the second anniversary
of the date of original issuance of such Note, the undersigned confirms that such Note is being
transferred:

	 	 	 	 	 	 	 	 	 
	 

	 	 	(1	)	 	o
	 	To Realogy Corporation; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(2	)	 	o
	 	So long as this Note is eligible for resale pursuant to Rule
144A under the Securities Act, to a person whom the seller
reasonably believes is a Qualified Institutional Buyer within
the meaning of Rule 144A, purchasing for its own account or
for the account of a Qualified Institutional Buyer to whom
notice is given that the resale, pledge or other transfer is
being made in reliance on Rule 144A; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(3	)	 	o
	 	To an institutional “accredited investor” within the meaning
of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the
Securities Act that is acquiring this Note for its own
account, or for the account of such an institutional
“accredited investor,” in each case in a transaction
involving a minimum principal amount of $250,000 of Notes,
for investment purposes and not with a view to or for offer
or sale in connection with any distribution in violation of
the Securities Act; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(4	)	 	o
	 	In an offshore transaction in accordance with Regulation S
under the Securities Act; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(5	)	 	o
	 	Pursuant to any exemption from registration under the
Securities Act; or
	 
	 	 	 	 	 	 	 	 
	 

	 	 	(6	)	 	o
	 	Pursuant to an effective Registration Statement under the
Securities Act.

          Unless one of the boxes above is checked, the Trustee will refuse to register any of the
within Notes in the name of any person other than the registered Holder thereof (or hereof);
provided, however, that the Trustee may, in its sole discretion, register the
transfer of such Notes if it has received such certifications, legal opinions and/or other
information as the Company has required to confirm that such transfer is being made pursuant to an
exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act of 1933, as amended.

 

 

          In addition, if box (3), (4) or (5) above is checked, the Holder must furnish to the Trustee
certifications, legal opinions or other information as it or the Company may require to confirm
that such transfer is being made pursuant to an exemption from the registration requirements of the
Securities Act of 1933, as amended.

	 	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	Signature(s)	 	 

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings
and loan associations and credit unions) with membership in an approved signature guarantee
medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.

	 	 	 	 	 
	 	 	 
	Signature Guarantee	 	 

TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED.

     The undersigned represents and warrants that it is purchasing this Note for its own account or
an account with respect to which it exercises sole investment discretion and that it and any such
account is a “qualified institutional buyer” within the meaning of Rule 144A of the Securities Act
of 1933, as amended, and is aware that the sale is being made in reliance on Rule 144A and
acknowledges that it has received such information regarding the Company as the undersigned has
requested pursuant to Rule 144A or has determined not to request such information and that it is
aware that the transferor is relying upon the undersigned’s foregoing representations in order to
claim the exemption from registration provided by Rule 144A.

	 	 	 	 	 
	 	 	 
	Signature	 	 
	 
	 	 	 	 
	Dated:
	 	 	 	 
	 

	 	 	 	 

 

 

SCHEDULE OF EXCHANGES, REDEMPTIONS, REPURCHASES

CANCELLATIONS AND TRANSFERS

     The initial principal amount of this Global Note is $                     . The following increases or
decreases in this Global Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Remaining Principal	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Amount of this	 	 	Signature of	 
	 	 	Amount of Decrease in	 	 	Amount of Increase in	 	 	Global Note Following	 	 	Authorized Signatory	 
	Date of Increase or	 	Principal Amount of	 	 	Principal Amount of	 	 	such Decrease or	 	 	of Trustee or	 
	Decrease	 	this Global Note	 	 	this Global Note	 	 	Increase	 	 	Custodian	 
	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

 

 

Annex 1 to

Exhibit A

Form of Certificate to be Delivered in Connection with

Transfers to Institutional Accredited Investors

[Date]

[Trustee]

Attention: Corporate Trust Administration

Dear Sirs:

          This certificate is delivered to request a transfer of $___principal amount of the 6.50%
Senior Notes Due 2016 (the “Securities”) of Realogy Corporation (the “Company”).

     Upon transfer, the Securities would be registered in the name of the new beneficial owner as
follows:

	 	 	 	 	 	 	 	 	 
	 

	 	Name: 	 	 	 	 	 	 
	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address:	 	 	 
	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Taxpayer ID Number:	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	The undersigned represents and warrants to you that:

     1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”)) purchasing for our own
account or for the account of such an institutional “accredited investor” at least $250,000
principal amount of the Securities, and we are acquiring the Securities not with a view to, or for
offer or sale in connection with, any distribution in violation of the Securities Act. We have
such knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risk of our investment in the Securities and we invest in or purchase securities similar
to the Securities in the normal course of our business. We and any accounts for which we are
acting are each able to bear the economic risk of our or its investment.

     2. We understand that the Securities have not been registered under the Securities Act and,
unless so registered, may not be sold except as permitted in the following sentence. We agree on
our own behalf and on behalf of any investor account for which we are purchasing Securities to
offer, sell or otherwise transfer such Securities prior to the date which is two years after the
later of the date of original issue and the last date on which the Company or any affiliate of the
Company was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction
Termination Date”) only (a) to the Company, (b) so long as this Security is eligible for resale
pursuant to Rule 144A under the Securities Act (“Rule 144A”), to a person whom we reasonably
believe is a qualified institutional buyer within the meaning of Rule 144A, purchasing for its own
account or for the account of a qualified institutional buyer to whom notice is given that the
resale, pledge or other transfer is being made in reliance on Rule 144A, (c)

 

 

to an institutional accredited investor within the meaning of Rule 501(a)(1), (2), (3) or (7)
of Regulation D under the Securities Act that is acquiring the security for its own account, or for
the account of such an institutional accredited investor, in each case in a transaction involving a
minimum principal amount of $250,000 of securities, for investment purposes and not with a view to
or for offer or sale in connection with any distribution in violation of the Securities Act, (d) in
an offshore transaction in accordance with Regulation S under the Securities Act, (e) pursuant to
any exemption from registration under the Securities Act or (f) pursuant to an effective
registration statement under the Securities Act, in each case in accordance with any applicable
securities laws of any state of the United States. The foregoing restrictions on resale will not
apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of
the Securities is proposed to be made pursuant to clause (c) above prior to the Resale Restriction
Termination Date, the transferor shall deliver a letter from the transferee substantially in the
form of this letter to the Company and the Trustee, which shall provide, among other things, that
the transferee is an institutional accredited investor (within the meaning of Rule 501(a)(1), (2),
(3) or (7) under the Securities Act) and that it is acquiring such Securities for investment
purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges
that the Company and the Trustee reserve the right prior to any offer, sale or other transfer prior
to the Resale Restriction Termination Date of the Securities pursuant to clauses (c), (d) or (e)
above to require the delivery of an opinion of counsel, certifications and/or other information
satisfactory to the Company and the Trustee. [We certify that we are not, and have not been, an
affiliate of the Company.][We certify that we were not an affiliate of the Company at any time
during the three months preceding the date of any offer, sale or other transfer of Securities.]

	 	 	 	 	 	 	 	 	 
	 	 	TRANSFEREE:	 	 	 	 
	 	 	 	 	 	 	   
	 
	 	 	 	 	 	 	 	 
	 

	 	BY:	 	 	 	 
	 	 	 
 

 

 

Annex 2 to

Exhibit A

Form of Certificate to be Delivered in Connection with

Transfers Pursuant to Regulation S

[Trustee]

Attention: Corporate Trust Administration

Re: Realogy Corporation

6.50% Senior Notes Due 2016 (the “Securities”)

Ladies and Gentlemen:

     In connection with our proposed sale of $___aggregate principal amount of the
Securities, we confirm that such sale has been effected pursuant to and in accordance with
Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”),
and, accordingly, we represent that:

     (a) the offer of the Securities was not made to a person in the United States;

     (b) either (i) at the time the buy order was originated, the transferee was outside the United
States or we and any person acting on our behalf reasonably believed that the transferee was
outside the United States or (ii) the transaction was executed in, on or through the facilities of
a designated off-shore securities market and neither we nor any person acting on our behalf knows
that the transaction has been pre-arranged with a buyer in the United States;

     (c) no directed selling efforts have been made in the United States in contravention of the
requirements of Rule 903(b) or Rule 904(b) of Regulation S, as applicable; and

     (d) the transaction is not part of a plan or scheme to evade the registration requirements of
the Securities Act.

     In addition, if the sale is being made during a restricted period, we represent that the sale
is not being made to a United States person or for the account or benefit of a United States
person.

     You and the Company are entitled to rely upon this letter and are irrevocably authorized to
produce this letter or a copy hereof to any interested party in any administrative or legal
proceedings or official inquiry with respect to the matters covered hereby. Terms used in this
certificate have the meanings set forth in Regulation S.

     Very truly yours,

	 	 	 	 	 	 	 	 	 
	 	 	TRANSFEREE:	 	 	 	 
	 	 	 	 	 	 	   
	 
	 	 	 	 	 	 	 	 
	 

	 	BY:EX-4.5

 

Exhibit
4.5

EXECUTION COPY

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT dated October 20, 2006 (the “Agreement”) is entered into by
and between Realogy Corporation, a Delaware corporation (the “Company”), and J.P. Morgan Securities
Inc. and Barclays Capital Inc. (the “Representatives”), on behalf of themselves and as
representatives of Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Calyon Securities (USA) Inc., Scotia Capital (USA) Inc., Banc of America Securities
LLC, Mitsubishi UFJ Securities International plc, Wells Fargo Securities, LLC, Wachovia Capital
Markets, LLC, BMO Capital Markets Corp., Daiwa Securities America Inc. and Greenwich Capital
Markets, Inc. (collectively and, together with the Representatives, the “Initial Purchasers”).

     The Company and the Initial Purchasers are parties to the Purchase Agreement dated October 13,
2006 (the “Purchase Agreement”), which provides for the sale by the Company to the Initial
Purchasers of $250,000,000 aggregate principal amount of the Company’s Floating Rate Senior Notes
due 2009, $450,000,000 aggregate principal amount of the Company’s 6.150% Senior Notes due 2011 and
$500,000,000 aggregate principal amount of the Company’s 6.500% Senior Notes due 2016
(collectively, the “Securities”). As an inducement to the Initial Purchasers to enter into the
Purchase Agreement, the Company has agreed to provide to the Initial Purchasers and their direct
and indirect transferees the registration rights set forth in this Agreement. The execution and
delivery of this Agreement is a condition to the closing under the Purchase Agreement.

     In consideration of the foregoing, the parties hereto agree as follows:

     1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:

     “Agreement” shall have the meaning set forth in the preamble.

     “Business Day” shall mean any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City are authorized or required by law to remain closed.

     “Closing Date” shall mean the Closing Date as defined in the Purchase Agreement.

     “Company” shall have the meaning set forth in the preamble and shall also include the
Company’s successors.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended from time to time.

     “Exchange Dates” shall have the meaning set forth in Section 2(a)(ii) hereof.

 

 

     “Exchange Offer” shall mean the exchange offers by the Company of Exchange Securities for
Registrable Securities pursuant to Section 2(a) hereof.

     “Exchange Offer Registration” shall mean a registration under the Securities Act effected
pursuant to Section 2(a) hereof.

     “Exchange Offer Registration Statement” shall mean an exchange offer registration statement on
Form S-4 (or, if applicable, on another appropriate form) and all amendments and supplements to
such registration statement, in each case including the Prospectus contained therein or deemed a
part thereof, all exhibits thereto and any document incorporated by reference therein.

     “Exchange Securities” shall mean senior notes issued by the Company under the Indenture
containing terms identical to the respective series of Securities (except that the Exchange
Securities will not be subject to restrictions on transfer or to any increase in annual interest
rate for failure to comply with this Agreement) and to be offered to Holders of such series of
Securities in exchange for such Securities pursuant to the Exchange Offer.

     “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the
Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in
connection with the sale of the Securities or the Exchange Securities, but does not include any
communication made in compliance with Rules 134 or 135c under the Securities Act.

     “Holders” shall mean the Initial Purchasers, for so long as they own any Registrable
Securities, and each of their successors, assigns and direct and indirect transferees who become
owners of Registrable Securities under the Indenture; provided that for purposes of Sections 4 and
5 of this Agreement, the term “Holders” shall include Participating Broker-Dealers.

     “Indemnified Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indemnifying Person” shall have the meaning set forth in Section 5(c) hereof.

     “Indenture” shall mean the Indenture relating to the Securities dated as of October 20, 2006
between the Company and Wells Fargo Bank, National Association, as trustee, and as the same may be
amended from time to time in accordance with the terms thereof.

     “Initial Purchasers” shall have the meaning set forth in the preamble.

     “Inspector” shall have the meaning set forth in Section 3(a)(xiii) hereof.

     “Issuer Information” shall have the meaning set forth in Section 5(a) hereof.

     “Majority Holders” shall mean the Holders of a majority of the aggregate principal amount of
the outstanding Registrable Securities; provided that whenever the consent or approval of Holders
of a specified percentage of Registrable Securities is

2

 

required hereunder, any Registrable Securities owned directly or indirectly by the Company or
any of its affiliates shall not be counted in determining whether such consent or approval was
given by the Holders of such required percentage or amount; and provided, further, that if the
Company shall issue any additional Securities under the Indenture prior to the consummation of the
Exchange Offer or, if applicable, the effectiveness of any Shelf Registration Statement, such
additional Securities and the Registrable Securities to which this Agreement relates shall be
treated together as one class for purposes of determining whether the consent or approval of
Holders of a specified percentage of Registrable Securities has been obtained.

     “Participating Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof.

     “Person” shall mean an individual, partnership, limited liability company, corporation, trust
or unincorporated organization, or a government or agency or political subdivision thereof.

     “Prospectus” shall mean the prospectus included in, or, pursuant to the rules and regulations
of the Securities Act, deemed a part of, a Registration Statement, including any preliminary
prospectus, and any such prospectus as amended or supplemented by any prospectus supplement,
including a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and
supplements to such prospectus, and in each case including any document incorporated by reference
therein.

     “Purchase Agreement” shall have the meaning set forth in the preamble.

     “Registrable Securities” shall mean the Securities; provided that the Securities shall cease
to be Registrable Securities (i) when a Registration Statement with respect to such Securities has
become effective under the Securities Act and such Securities have been exchanged or disposed of
pursuant to such Registration Statement, (ii) when such Securities are eligible to be sold pursuant
to Rule 144(k) (or any similar provision then in force, but not Rule 144A) under the Securities
Act, (iii) when such Securities cease to be outstanding or (iv) when such Securities are sold
pursuant to Rule 144 under circumstances in which any legend borne by such Securities relating to
restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the
Company.

     “Registration Expenses” shall mean any and all expenses incident to the performance of or
compliance by the Company with this Agreement, including without limitation: (i) all SEC, stock
exchange or National Association of Securities Dealers, Inc. registration and filing fees, (ii) all
fees and expenses incurred in connection with compliance with state securities or blue sky laws
(including reasonable fees and disbursements of not more than one counsel for any Underwriters or
Holders (whose counsel shall be selected by the Holders of a majority in aggregate principal amount
of Registrable Securities to be registered in the applicable Registration Statement) solely in
connection with blue sky qualification of any Exchange Securities or Registrable

3

 

Securities), (iii) all expenses of any Persons in preparing or assisting in preparing, word
processing, printing and distributing any Registration Statement, any Prospectus and any amendments
or supplements thereto, any underwriting agreements, securities sales agreements or other similar
agreements and any other documents relating to the performance of and compliance with this
Agreement, (iv) all rating agency fees, (v) all fees and disbursements relating to the
qualification of the Indenture under applicable securities laws, (vi) the fees and disbursements of
the Trustee and its counsel, (vii) the fees and disbursements of counsel for the Company and, in
the case of a Shelf Registration Statement, the fees and disbursements of one counsel for the
Holders (which counsel shall be selected by the Majority Holders and which counsel may also be
counsel for the Initial Purchasers) incurred in connection with such Shelf Registration and (viii)
the fees and disbursements of the independent public accountants of the Company, including the
expenses of any special audits or “comfort” letters required by or incident to the performance of
and compliance with this Agreement, but excluding fees and expenses of counsel to the Underwriters
(other than fees and expenses set forth in clause (ii) above) or the Holders and underwriting
discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale
or disposition of Registrable Securities by a Holder.

     “Registration Statement” shall mean any registration statement of the Company that covers any
of the Exchange Securities or Registrable Securities pursuant to the provisions of this Agreement
and all amendments and supplements to any such registration statement, including post-effective
amendments, in each case including the Prospectus contained therein or deemed a part thereof, all
exhibits thereto and any document incorporated by reference therein.

     “Representatives” shall have the meaning set forth in the preamble.

     “SEC” shall mean the United States Securities and Exchange Commission.

     “Securities” shall have the meaning set forth in the preamble.

     “Securities Act” shall mean the Securities Act of 1933, as amended from time to time.

     “Shelf Additional Interest Date” shall have the meaning set forth in Section 2(d) hereof.

     “Shelf Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof.

     “Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof.

     “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company that
covers all or a portion of the Registrable Securities (but no other securities unless approved by a
majority of the Holders whose Registrable Securities are to be covered by such Shelf Registration
Statement) on an appropriate form under Rule 415

4

 

under the Securities Act, or any similar rule that may be adopted by the SEC, and all
amendments and supplements to such registration statement, including post-effective amendments, in
each case including the Prospectus contained therein or deemed a part thereof, all exhibits thereto
and any document incorporated by reference therein.

     “Shelf Request” shall have the meaning set forth in Section 2(b) hereof.

     “Staff” shall mean the staff of the SEC.

     “Target Registration Date” shall have the meaning set forth in Section 2(d) hereof.

     “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from time to
time.

     “Trustee” shall mean the trustee with respect to the Securities under the Indenture.

     “Underwriter” shall have the meaning set forth in Section 3(e) hereof.

     “Underwritten Offering” shall mean an offering in which Registrable Securities are sold to an
Underwriter for reoffering to the public.

     2. Registration Under the Securities Act. (a) To the extent not prohibited by any
applicable law or applicable interpretations of the Staff, the Company shall use its reasonable
best efforts to (i) cause to be filed with the SEC an Exchange Offer Registration Statement
covering an offer to the Holders to exchange all the Registrable Securities for Exchange Securities
and (ii) have such Registration Statement remain effective until 180 days after the last Exchange
Date for use by one or more Participating Broker-Dealers. The Company shall commence the Exchange
Offer promptly after the Exchange Offer Registration Statement is declared effective by the SEC and
use its reasonable best efforts to complete the Exchange Offer not later than 60 days after such
effective date.

     The Company shall commence the Exchange Offer by mailing the related Prospectus, appropriate
letters of transmittal and other accompanying documents to each Holder stating, in addition to such
other disclosures as are required by applicable law, substantially the following:

     (i) that the Exchange Offer is being made pursuant to this Agreement and that all
Registrable Securities validly tendered and not properly withdrawn will be accepted for
exchange;

     (ii) the dates of acceptance for exchange (which shall be a period of at least 20
Business Days from the date such notice is mailed) (the “Exchange Dates”);

5

 

     (iii) that any Registrable Security not tendered will remain outstanding and continue
to accrue interest but will not retain any rights under this Agreement, except as otherwise
specified herein;

     (iv) that any Holder electing to have a Registrable Security exchanged pursuant to the
Exchange Offer will be required to (A) surrender such Registrable Security, together with
the appropriate letters of transmittal, to the institution and at the address (located in
the Borough of Manhattan, The City of New York) and in the manner specified in the notice,
or (B) effect such exchange otherwise in compliance with the applicable procedures of the
depositary for such Registrable Security, in each case prior to the close of business on
the last Exchange Date; and

     (v) that any Holder will be entitled to withdraw its election, not later than the
close of business on the last Exchange Date, by (A) sending to the institution and at the
address (located in the Borough of Manhattan, The City of New York) specified in the
notice, a telegram, telex, facsimile transmission or letter setting forth the name of such
Holder, the principal amount of Registrable Securities delivered for exchange and a
statement that such Holder is withdrawing its election to have such Securities exchanged or
(B) effecting such withdrawal in compliance with the applicable procedures of the
depositary for the Registrable Securities.

     As a condition to participating in the Exchange Offer, a Holder will be required to represent
to the Company that (i) any Exchange Securities to be received by it will be acquired in the
ordinary course of its business, (ii) at the time of the commencement of the Exchange Offer it has
no arrangement or understanding with any Person to participate in the distribution (within the
meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the
Securities Act, (iii) it is not an “affiliate” (within the meaning of Rule 405 under the Securities
Act) of the Company and (iv) if such Holder is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Registrable Securities that were acquired as a
result of market-making or other trading activities, then such Holder will deliver a Prospectus
(or, to the extent permitted by law, make available a Prospectus to purchasers) in connection with
any resale of such Exchange Securities.

     As soon as practicable after the last Exchange Date, the Company shall:

     (i) accept for exchange Registrable Securities or portions thereof validly tendered
and not properly withdrawn pursuant to the Exchange Offer; and

     (ii) deliver, or cause to be delivered, to the Trustee for cancellation all
Registrable Securities or portions thereof so accepted for exchange by the Company and
issue, and cause the Trustee to promptly authenticate and deliver to each Holder, Exchange
Securities equal in principal amount to the principal amount of the Registrable Securities
tendered by such Holder.

6

 

     The Company shall use its reasonable best efforts to complete the Exchange Offer as provided
above and shall comply with the applicable requirements of the Securities Act, the Exchange Act and
other applicable laws and regulations in connection with the Exchange Offer. The Exchange Offer
shall not be subject to any conditions, other than that the Exchange Offer does not violate any
applicable law or applicable interpretations of the Staff.

     (b) In the event that (i) the Company determines that the Exchange Offer Registration provided
for in Section 2(a) above is not available or may not be completed as soon as practicable after the
last Exchange Date because it would violate any applicable law or applicable interpretations of the
Staff, (ii) the Exchange Offer is not for any other reason completed by the date that is 360 days
after the Closing Date or (iii) upon receipt of a written request (a “Shelf Request”) from any
Initial Purchaser representing that it holds Registrable Securities that are or were ineligible to
be exchanged in the Exchange Offer, the Company shall use its reasonable best efforts to cause to
be filed as soon as practicable after such determination, date or Shelf Request, as the case may
be, a Shelf Registration Statement providing for the sale of all the Registrable Securities by the
Holders thereof and to have such Shelf Registration Statement become effective.

     In the event that the Company is required to file a Shelf Registration Statement pursuant to
clause (iii) of the preceding sentence, the Company shall use its reasonable best efforts to file
and have become effective both an Exchange Offer Registration Statement pursuant to Section 2(a)
with respect to all Registrable Securities and a Shelf Registration Statement (which may be a
combined Registration Statement with the Exchange Offer Registration Statement) with respect to
offers and sales of Registrable Securities held by the Initial Purchasers after completion of the
Exchange Offer.

     The Company agrees to use its reasonable best efforts to keep the Shelf Registration Statement
continuously effective until the expiration of the period referred to in Rule 144(k) (or any
similar rule then in force, but not Rule 144A) under the Securities Act with respect to the
Registrable Securities or such shorter period that will terminate when all the Registrable
Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf
Registration Statement (the “Shelf Effectiveness Period”). The Company further agrees to
supplement or amend the Shelf Registration Statement and the related Prospectus if required by the
rules, regulations or instructions applicable to the registration form used by the Company for such
Shelf Registration Statement or by the Securities Act or by any other rules and regulations
thereunder or if reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use its reasonable best efforts to cause any such
amendment to become effective, if required, and such Shelf Registration Statement and Prospectus to
become usable as soon as thereafter practicable. The Company agrees to furnish to the Holders of
Registrable Securities copies of any such supplement or amendment promptly after its being used or
filed with the SEC.

     (c) The Company shall pay all Registration Expenses in connection with any registration
pursuant to Section 2(a) or Section 2(b) hereof. Each Holder shall pay all

7

 

underwriting discounts and commissions, brokerage commissions and transfer taxes, if any,
relating to the sale or disposition of such Holder’s Registrable Securities pursuant to the Shelf
Registration Statement.

     (d) An Exchange Offer Registration Statement pursuant to Section 2(a) hereof will not be
deemed to have become effective unless it has been declared effective by the SEC. A Shelf
Registration Statement pursuant to Section 2(b) hereof will not be deemed to have become effective
unless it has been declared effective by the SEC or is automatically effective upon filing with the
SEC as provided by Rule 462 under the Securities Act.

     In the event that either the Exchange Offer is not completed or the Shelf Registration
Statement, if required pursuant to Section 2(b)(i) or 2(b)(ii) hereof, does not become effective on
or prior to the date that is 360 days after the Closing Date (the “Target Registration Date”), the
interest rate on the Registrable Securities will be increased by (i) 0.25% per annum for the first
90-day period commencing immediately following the Target Registration Date and (ii) an additional
0.25% per annum with respect to each subsequent 90-day period, in each case until the Exchange
Offer is completed or the Shelf Registration Statement, if required hereby, becomes effective or
the Securities become freely tradable under the Securities Act, up to a maximum increase of 1.00%
per annum. In the event that the Company receives a Shelf Request pursuant to Section 2(b)(iii),
and the Shelf Registration Statement required to be filed thereby has not become effective by the
later of the date (x) 360 days after the Closing Date or (y) 90 days after the delivery of such
Shelf Request (such later date, the “Shelf Additional Interest Date”), then the interest rate on
the Registrable Securities will be increased by (i) 0.25% per annum for the first 90-day period
payable commencing from one day after the Shelf Additional Interest Date and (ii) an additional
0.25% per annum with respect to each subsequent 90-day period, in each case until the Shelf
Registration Statement becomes effective or the Securities become freely tradable under the
Securities Act, up to a maximum increase of 1.00% per annum.

     If the Shelf Registration Statement, if required hereby, has become effective and thereafter
either ceases to be effective or the Prospectus contained therein ceases to be usable, in each case
whether or not permitted by this Agreement, at any time during the Shelf Effectiveness Period, and
such failure to remain effective or usable exists for more than 30 days (whether or not
consecutive) in any 12-month period, then the interest rate on the Registrable Securities will be
increased by (i) 0.25% per annum for the first 90-day period commencing immediately following such
30th day, and (ii) an additional 0.25% per annum with respect to each subsequent 90-day
period up to a maximum increase of 1.00% per annum and ending on such date that the Shelf
Registration Statement has again become effective or the Prospectus again becomes usable.

     (e) Notwithstanding anything to the contrary contained herein, the increased interest rate
described in Section 2(d) above is the sole and exclusive remedy available to Holders due to a
registration default, so long as the Company is acting in good faith hereunder, including, without
limitation, with respect to satisfying its obligations.

8

 

     (f) The Company represents, warrants and covenants that it (including its agents and
representatives) will not prepare, make, use, authorize, approve or refer to any Free Writing
Prospectus.

     3. Registration Procedures. (a) In connection with its obligations pursuant to
Section 2(a) and Section 2(b) hereof, the Company shall as soon as practicable:

     (i) prepare and file with the SEC a Registration Statement on the appropriate form
under the Securities Act, which form (x) shall be selected by the Company, (y) shall, in
the case of a Shelf Registration, be available for the sale of the Registrable Securities
by the Holders thereof and (z) shall comply as to form in all material respects with the
requirements of the applicable form and include all financial statements required by the
SEC to be filed therewith; and use its reasonable best efforts to cause such Registration
Statement to become effective and remain effective for the applicable period in accordance
with Section 2 hereof;

     (ii) prepare and file with the SEC such amendments and post-effective amendments to
each Registration Statement as may be necessary to keep such Registration Statement
effective for the applicable period in accordance with Section 2 hereof and cause each
Prospectus to be supplemented by any required prospectus supplement and, as so
supplemented, to be filed pursuant to Rule 424 under the Securities Act; and keep each
Prospectus current during the period described in Section 4(3) of and Rule 174 under the
Securities Act that is applicable to transactions by brokers or dealers with respect to the
Registrable Securities or Exchange Securities;

     (iii) in the case of a Shelf Registration, furnish to each Holder of Registrable
Securities, to counsel for the Initial Purchasers, to counsel for such Holders and to each
Underwriter of an Underwritten Offering of Registrable Securities, if any, without charge,
as many copies of each Prospectus or preliminary prospectus, and any amendment or
supplement thereto, as such Holder, counsel or Underwriter may reasonably request in order
to facilitate the sale or other disposition of the Registrable Securities thereunder; and
the Company consents to the use of such Prospectus, preliminary prospectus and any
amendment or supplement thereto in accordance with applicable law by each of the Holders of
Registrable Securities and any such Underwriters in connection with the offering and sale
of the Registrable Securities covered by and in the manner described in such Prospectus,
preliminary prospectus or any amendment or supplement thereto in accordance with applicable
law;

     (iv) use its reasonable best efforts to register or qualify the Registrable Securities
under all applicable state securities or blue sky laws of such jurisdictions as any Holder
of Registrable Securities covered by a Registration Statement shall reasonably request in
writing by the time the applicable Registration Statement becomes effective; cooperate with
such Holders in connection with any filings required to be made with the National
Association of

9

 

Securities Dealers, Inc.; and use its reasonable best efforts to do any and all other
acts and things that may be reasonably necessary or advisable to enable each Holder to
complete the disposition in each such jurisdiction of the Registrable Securities owned by
such Holder; provided that the Company shall not be required to (1) 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, (2) file any general consent to
service of process in any such jurisdiction or (3) subject itself to taxation in any such
jurisdiction if it is not so subject;

     (v) notify counsel for the Initial Purchasers and, in the case of a Shelf
Registration, notify each Holder of Registrable Securities and counsel for such Holders
promptly and, if requested by any such Holder or counsel, confirm such advice in writing
(1) when a Registration Statement has become effective, when any post-effective amendment
thereto has been filed and becomes effective and when any amendment or supplement to the
Prospectus has been filed, (2) of any request by the SEC or any state securities authority
for amendments and supplements to a Registration Statement or Prospectus or for additional
information after the Registration Statement has become effective, (3) of the issuance by
the SEC or any state securities authority of any stop order suspending the effectiveness of
a Registration Statement or the initiation of any proceedings for that purpose, including
the receipt by the Company of any notice of objection of the SEC to the use of a Shelf
Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2)
under the Securities Act, (4) if, between the applicable effective date of a Shelf
Registration Statement and the closing of any sale of Registrable Securities covered
thereby, the representations and warranties of the Company contained in any underwriting
agreement, securities sales agreement or other similar agreement, if any, relating to an
offering of such Registrable Securities cease to be true and correct in all material
respects or if the Company receives any notification with respect to the suspension of the
qualification of the Registrable Securities for sale in any jurisdiction or the initiation
of any proceeding for such purpose, (5) of the happening of any event during the period a
Registration Statement is effective that makes any statement made in such Registration
Statement or the related Prospectus untrue in any material respect or that requires the
making of any changes in such Registration Statement or Prospectus in order to make the
statements therein not misleading and (6) of any determination by the Company that a
post-effective amendment to a Registration Statement or any amendment or supplement to the
Prospectus would be appropriate;

     (vi) use its reasonable best efforts to obtain the withdrawal of any order suspending
the effectiveness of a Registration Statement or, in the case of a Shelf Registration, the
resolution of any objection of the SEC pursuant to Rule 401(g)(2), including by filing an
amendment to such Shelf Registration Statement on the proper form, at the earliest possible
moment and provide immediate notice to each Holder of the withdrawal of any such order or
such resolution;

10

 

     (vii) in the case of a Shelf Registration, furnish to each Holder of Registrable
Securities, without charge, at least one conformed copy of each Registration Statement and
any post-effective amendment thereto (without any documents incorporated therein by
reference or exhibits thereto, unless requested);

     (viii) in the case of a Shelf Registration, cooperate with the Holders of Registrable
Securities to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be sold and not bearing any restrictive legends and enable such
Registrable Securities to be issued in such denominations and registered in such names
(consistent with the provisions of the Indenture) as such Holders may reasonably request at
least three Business Days prior to the closing of any sale of Registrable Securities by
such Holders;

     (ix) in the case of a Shelf Registration, upon the occurrence of any event
contemplated by Section 3(a)(v)(5) hereof, use its reasonable best efforts to prepare and
file with the SEC a supplement or post-effective amendment to such Shelf Registration
Statement or the related Prospectus or any document incorporated therein by reference or
file any other required document so that, as thereafter delivered (or, to the extent
permitted by law, made available) to purchasers of the Registrable Securities, such
Prospectus will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading; and the Company shall notify the Holders of
Registrable Securities to suspend use of the Prospectus as promptly as practicable after
the occurrence of such an event, and such Holders hereby agree to suspend use of the
Prospectus until the Company has amended or supplemented the Prospectus to correct such
misstatement or omission;

     (x) a reasonable time prior to the filing of any Registration Statement, any
Prospectus, any amendment to a Registration Statement or amendment or supplement to a
Prospectus (other than any document that is to be incorporated by reference into a
Registration Statement or a Prospectus after initial filing of a Registration Statement and
does not name the Holders of Registrable Securities in their capacity as such), provide
copies of such document to the Initial Purchasers and their counsel (if the Initial
Purchasers hold any Registrable Securities) (and, in the case of a Shelf Registration
Statement, to the Holders of Registrable Securities and their counsel) and make such of the
representatives of the Company as shall be reasonably requested by the Initial Purchasers
or their counsel (if the Initial Purchasers hold any Registrable Securities) (and, in the
case of a Shelf Registration Statement, the Holders of Registrable Securities or their
counsel) available for discussion of such document; and the Company shall not, at any time
after initial filing of a Registration Statement, use or file any Prospectus, any amendment
of or supplement to a Registration Statement or a Prospectus (other than any document that
is to be incorporated by reference into a Registration Statement or a Prospectus and does
not name the Holders of Registrable Securities in their capacity as such) which the Initial
Purchasers and

11

 

their counsel (if the Initial Purchasers hold any Registrable Securities) (and, in the
case of a Shelf Registration Statement, the Holders of Registrable Securities and their
counsel) shall not have previously been advised and furnished a copy or to which the
Initial Purchasers or their counsel (if the Initial Purchasers hold any Registrable
Securities) (and, in the case of a Shelf Registration Statement, the Holders of Registrable
Securities or their counsel) shall reasonably object within five Business Days after
receipt thereof, unless the Company believes, based upon the advice of counsel, such
Prospectus, amendment or supplement to a Prospectus is required by applicable law;

     (xi) obtain a CUSIP number for all Exchange Securities or Registrable Securities, as
the case may be, not later than the initial effective date of a Registration Statement;

     (xii) cause the Indenture to be qualified under the Trust Indenture Act in connection
with the registration of the Exchange Securities or Registrable Securities, as the case may
be; cooperate with the Trustee and the Holders to effect such changes to the Indenture as
may be required for the Indenture to be so qualified in accordance with the terms of the
Trust Indenture Act; and execute, and use its reasonable best efforts to cause the Trustee
to execute, all documents as may be required to effect such changes and all other forms and
documents required to be filed with the SEC to enable the Indenture to be so qualified in a
timely manner;

     (xiii) in the case of a Shelf Registration, make available for inspection by a
representative of the Holders of the Registrable Securities (an “Inspector”), any
Underwriter participating in any disposition pursuant to such Shelf Registration Statement,
one firm of attorneys and one firm of accountants designated by a majority of the Holders
of Registrable Securities to be included in such Shelf Registration and any attorneys and
accountants designated by such Underwriter, at reasonable times and in a reasonable manner,
all pertinent financial and other records, documents and properties of the Company and its
subsidiaries, and cause the respective officers, directors and employees of the Company to
supply all information reasonably requested by any such Inspector, Underwriter, attorney or
accountant to conduct a reasonable investigation within the meaning of Section 11 of the
Securities Act in connection with a Shelf Registration Statement; provided that if
any such information is identified by the Company as being confidential or proprietary,
each Person receiving such information shall take such actions as are reasonably necessary
to protect the confidentiality of such information to the extent such action is otherwise
not inconsistent with, an impairment of or in derogation of the rights and interests of any
Inspector, Holder or Underwriter and provided further, that the foregoing
investigation and information gathering shall, to the greatest extent practicable, be
coordinated on behalf of such parties by one counsel designated by and on behalf of such
parties;

     (xiv) in the case of a Shelf Registration, use its reasonable best efforts to cause
all Registrable Securities to be listed on any securities exchange or any

12

 

automated quotation system on which similar securities issued or guaranteed by the
Company are then listed if requested by the Majority Holders, to the extent such
Registrable Securities satisfy applicable listing requirements;

     (xv) if reasonably requested by any Holder of Registrable Securities covered by a
Shelf Registration Statement, promptly include in a Prospectus supplement or post-effective
amendment such information with respect to such Holder as such Holder reasonably requests
to be included therein and make all required filings of such Prospectus supplement or such
post-effective amendment promptly after the Company has received notification of the
matters to be so included in such filing; and

     (xvi) in the case of a Shelf Registration, enter into such customary agreements and
take all such other actions in connection therewith (including those requested by the
Holders of a majority in principal amount of the Registrable Securities covered by the
Shelf Registration Statement) in order to expedite or facilitate the disposition of such
Registrable Securities including, but not limited to, an Underwritten Offering and in such
connection, (1) to the extent possible, make such representations and warranties to the
Holders and any Underwriters of such Registrable Securities with respect to the business of
the Company and its subsidiaries and the Registration Statement, Prospectus and documents
incorporated by reference or deemed incorporated by reference, if any, in each case, in
form, substance and scope as are customarily made by issuers to underwriters in
underwritten offerings and confirm the same if and when required by the applicable
underwriting agreement, (2) obtain opinions of counsel to the Company (which counsel and
opinions, in form, scope and substance, shall be reasonably satisfactory to such
Underwriters and their respective counsel) addressed to each Underwriter of Registrable
Securities, covering the matters customarily covered in opinions requested in underwritten
offerings, (3) obtain “comfort” letters from the independent certified public accountants
of the Company (and, if necessary, any other certified public accountant of any subsidiary
of the Company, or of any business acquired by the Company for which financial statements
and financial data are or are required to be included in the Registration Statement)
addressed to each selling Holder (to the extent permitted by applicable professional
standards) and Underwriter of Registrable Securities, such letters to be in customary form
and covering matters of the type customarily covered in “comfort” letters in connection
with underwritten offerings, including but not limited to financial information contained
in any preliminary prospectus or Prospectus and (4) deliver such documents and certificates
as may be reasonably requested by the Holders of a majority in principal amount of the
Registrable Securities being sold or the Underwriters, and which are customarily delivered
in underwritten offerings, to evidence the continued validity of the representations and
warranties of the Company made pursuant to clause (1) above and to evidence compliance with
any customary conditions contained in an underwriting agreement.

13

 

     (b) In the case of a Shelf Registration Statement, the Company may require each Holder of
Registrable Securities to furnish to the Company such information regarding such Holder and the
proposed disposition by such Holder of such Registrable Securities as the Company may from time to
time reasonably request in writing. The Company shall be entitled to refuse to include for
registration the Registrable Securities held by any Holder who fails to comply with such request
and provide the requested information after being given 15 Business Days written notice of such
request to the extent such information is required by applicable law to be included in the Shelf
Registration Statement, and such Holder shall not be entitled to additional interest pursuant to
Section 2(d) above based solely on the Company’s refusal to include such Registrable Securities in
the applicable Shelf Registration Statement.

     (c) In the case of a Shelf Registration Statement, each Holder of Registrable Securities
covered in such Shelf Registration Statement agrees that, upon receipt of any notice from the
Company of the happening of any event of the kind described in Section 3(a)(v)(3), 3(a)(v)(5) or
3(a)(v)(6) hereof, such Holder will forthwith discontinue disposition of Registrable Securities
pursuant to the Shelf Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 3(a)(ix) hereof or until it is advised
in writing by the Company that the use of the Prospectus may be resumed and, if so directed by the
Company, such Holder will deliver to the Company all copies in its possession, other than permanent
file copies then in such Holder’s possession, of the Prospectus covering such Registrable
Securities that is current at the time of receipt of such notice.

     (d) If the Company shall give any notice to suspend the disposition of Registrable Securities
pursuant to a Registration Statement, the Company shall extend the period during which such
Registration Statement shall be maintained effective pursuant to this Agreement by the number of
days during the period from and including the date of the giving of such notice to and including
the date when the Holders of such Registrable Securities shall have received copies of the
supplemented or amended Prospectus necessary to resume such dispositions. The Company may give any
such notice only twice during any 365-day period and any such suspensions shall not exceed 30 days
for each suspension and there shall not be more than two suspensions in effect during any 365-day
period.

     (e) In the case of an Underwritten Offering, the investment bank or investment banks and
manager or managers (each an “Underwriter”) that will administer the offering will be selected by
the Holders of a majority of the outstanding aggregate principal amount of the Registrable
Securities included in such offering, subject to the Company’s consent, which consent shall not be
unreasonably withheld. Such Holders shall be responsible for all underwriting commissions and
discounts in connection therewith.

     4. Participation of Broker-Dealers in Exchange Offer. (a) The Staff has taken the
position that any broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for Securities that were acquired by such broker-dealer as a result of
market-making or other trading activities (a “Participating Broker-Dealer”) may be deemed to be an
“underwriter” within the meaning of the

14

 

Securities Act and must deliver a prospectus meeting the requirements of the Securities Act
in connection with any resale of such Exchange Securities.

     The Company understands that it is the Staff’s position that if the Prospectus contained in
the Exchange Offer Registration Statement includes a plan of distribution containing a statement to
the above effect and the means by which Participating Broker-Dealers may resell the Exchange
Securities, without naming the Participating Broker-Dealers or specifying the amount of Exchange
Securities owned by them, such Prospectus may be delivered by Participating Broker-Dealers (or, to
the extent permitted by law, made available to purchasers) to satisfy their prospectus delivery
obligation under the Securities Act in connection with resales of Exchange Securities for their own
accounts, so long as the Prospectus otherwise meets the requirements of the Securities Act.

     (b) In light of the above, and notwithstanding the other provisions of this Agreement, the
Company agrees to amend or supplement the Prospectus contained in the Exchange Offer Registration
Statement for a period of up to 180 days after the last Exchange Date (as such period may be
extended pursuant to Section 3(d) of this Agreement), if requested by the Initial Purchasers or by
one or more Participating Broker-Dealers, in order to expedite or facilitate the disposition of any
Exchange Securities by Participating Broker-Dealers consistent with the positions of the Staff
recited in Section 4(a) above. The Company further agrees that Participating Broker-Dealers shall
be authorized to deliver such Prospectus (or, to the extent permitted by law, make available)
during such period in connection with the resales contemplated by this Section 4.

     (c) The Initial Purchasers shall have no liability to the Company or any Holder with respect
to any request that they may make pursuant to Section 4(b) above.

     5. Indemnification and Contribution. (a) The Company agrees to indemnify and hold
harmless each Initial Purchaser and each Holder, their respective affiliates, directors and
officers and each Person, if any, who controls any Initial Purchaser or any Holder 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, (1)
any untrue statement or alleged untrue statement of a material fact contained in any Registration
Statement or 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 (2) any
untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any
Free Writing Prospectus used in violation of this Agreement or any “issuer information” (“Issuer
Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act, or
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

15

 

alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to any Initial Purchaser or information relating to any Holder furnished to
the Company in writing through the Representatives or any selling Holder, respectively, expressly
for use therein. In connection with any Underwritten Offering permitted by Section 3, the Company
will also indemnify the Underwriters, if any, selling brokers, dealers and similar securities
industry professionals participating in the distribution, their respective affiliates and each
Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to
the same extent as provided above with respect to the indemnification of the Holders, if requested
in connection with any Registration Statement, any Prospectus, any Free Writing Prospectus or any
Issuer Information.

     (b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company,
the Initial Purchasers and the other selling Holders, the directors of the Company, each officer of
the Company who signed the Registration Statement and each Person, if any, who controls the
Company, any Initial Purchaser and any other selling Holder 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 Holder furnished to
the Company in writing by such Holder expressly for use in any Registration Statement and any
Prospectus.

     (c) 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 this Section 5 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 this Section 5. 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 to represent the Indemnified
Person and any others entitled to indemnification pursuant to this Section 5 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

16

 

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 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
one firm of local counsel in any relevant jurisdiction) for all Indemnified Persons, and that all
such fees and expenses shall be reimbursed as they are incurred. Any such separate firm (x) for
any Initial Purchaser, its affiliates, directors and officers and any control Persons of such
Initial Purchaser shall be designated in writing by the Representatives, (y) for any Holder, its
directors and officers and any control Persons of such Holder shall be designated in writing by the
Majority Holders and (z) in all other cases 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 (A) 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 (B) 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) If the indemnification provided for in paragraphs (a) and (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 from the
offering of the Securities and the Exchange Securities, on the one hand, and by the Holders from
receiving Securities or Exchange Securities registered under the Securities Act, on the other hand,
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 Holders 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 fault of the

17

 

Company on the one hand and the Holders 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 Holders and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission.

     (e) The Company and the Holders agree that it would not be just and equitable if contribution
pursuant to this Section 5 were determined by pro rata allocation (even if the
Holders were treated as one entity for such purpose) or by any other method of allocation 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 5, in no event shall a Holder be
required to contribute any amount in excess of the amount by which the total price at which the
Securities or Exchange Securities sold by such Holder exceeds the amount of any damages that such
Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant
to this Section 5 are several and not joint.

     (f) The remedies provided for in this Section 5 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.

     (g) The indemnity and contribution provisions contained in this Section 5 shall remain
operative and in full force and effect regardless of (i) any termination of this Agreement, (ii)
any investigation made by or on behalf of the Initial Purchasers or any Holder or any Person
controlling any Initial Purchaser or any Holder, or by or on behalf of the Company or the officers
or directors of or any Person controlling the Company, (iii) acceptance of any of the Exchange
Securities and (iv) any sale of Registrable Securities pursuant to a Shelf Registration Statement.

     6. General. (a) No Inconsistent Agreements. The Company represents,
warrants and agrees that (i) the rights granted to the Holders hereunder do not in any way conflict
with and are not inconsistent with the rights granted to the holders of any other outstanding
securities issued or guaranteed by the Company under any other agreement and (ii) the Company has
not entered into, or on or after the date of this Agreement will not enter into, any agreement that
is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement
or otherwise conflicts with the provisions hereof.

     (b) Amendments and Waivers. The provisions of this Agreement, including the
provisions of this sentence, may not be amended, modified or supplemented, and waivers

18

 

or consents to departures from the provisions hereof may not be given unless the Company has
obtained the written consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or
consent; provided that no amendment, modification, supplement, waiver or consent to any
departure from the provisions of Section 5 hereof shall be effective as against any Holder of
Registrable Securities unless consented to in writing by such Holder. Any amendments,
modifications, supplements, waivers or consents pursuant to this Section 6(b) shall be by a writing
executed by each of the parties hereto.

     (c) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, registered first-class mail, telex, telecopier, or any
courier guaranteeing overnight delivery (i) if to a Holder, at the most current address given by
such Holder to the Company by means of a notice given in accordance with the provisions of this
Section 6(c), which address initially is, with respect to the Initial Purchasers, the address set
forth in the Purchase Agreement; (ii) if to the Company, initially at the Company’s address set
forth in the Purchase Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c); and (iii) to such other persons at their
respective addresses as provided in the Purchase Agreement and thereafter at such other address,
notice of which is given in accordance with the provisions of this Section 6(c). All such notices
and communications shall be deemed to have been duly given: at the time delivered by hand, if
personally delivered; five Business Days after being deposited in the mail, postage prepaid, if
mailed; when answered back, if telexed; when receipt is acknowledged, if telecopied; and on the
next Business Day if timely delivered to an air courier guaranteeing overnight delivery. Copies of
all such notices, demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee, at the address specified in the Indenture.

     (d) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors, assigns and transferees of each of the parties, including, without
limitation and without the need for an express assignment, subsequent Holders; provided
that nothing herein shall be deemed to permit any assignment, transfer or other disposition of
Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If
any transferee of any Holder shall acquire Registrable Securities in any manner, whether by
operation of law or otherwise, such Registrable Securities shall be held subject to all the terms
of this Agreement, and by taking and holding such Registrable Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of
this Agreement and such Person shall be entitled to receive the benefits hereof. The Initial
Purchasers (in their capacity as Initial Purchasers) shall have no liability or obligation to the
Company with respect to any failure by a Holder to comply with, or any breach by any Holder of, any
of the obligations of such Holder under this Agreement.

     (e) Third Party Beneficiaries. Each Holder shall be a third party beneficiary to the
agreements made hereunder between the Company, on the one hand, and the Initial Purchasers, on the
other hand, and shall have the right to enforce such agreements

19

 

directly to the extent it deems such enforcement necessary or advisable to protect its rights
or the rights of other Holders hereunder.

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

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

     (h) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York.

     (i) Entire Agreement; Severability. This Agreement contains the entire agreement
between the parties relating to the subject matter hereof and supersedes all oral statements and
prior writings with respect thereto. If any term, provision, covenant or restriction contained in
this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable or
against public policy, the remainder of the terms, provisions, covenants and restrictions contained
herein shall remain in full force and effect and shall in no way be affected, impaired or
invalidated. The Company and the Initial Purchasers shall endeavor in good faith negotiations to
replace the invalid, void or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the invalid, void or unenforceable provisions.

20

 

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

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	REALOGY CORPORATION,
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	     by	 	/s/  C. Patterson
Cardwell, IV
	 

	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	Name: C. Patterson Cardwell, IV
	 

	 	 	 	 	 	 	 	 	 	Title:   Executive
Vice President, General Counsel and Secretary

	 
	 	 	 	 	 	 	 	 	 	 
	Confirmed and accepted as of the date first above written:
	 
	 	 	 	 	 	 	 	 	 	 
	J.P. MORGAN SECURITIES INC.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By
	 	/s/  Maria Sramek	 	 	 	 	 	 	 	 
	 

	 	 

Name: Maria Sramek
	 	 	 	 	 	 	 	 
	 

	 	Title:   Vice
President	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	BARCLAYS CAPITAL INC.	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By
	 	/s/  Pamela Kendall	 	 	 	 	 	 	 	 
	 

	 	 

Name: Pamela Kendall
	 	 	 	 	 	 	 	 
	 

	 	Title:   Director	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	For themselves and on behalf of the

several Initial Purchasers	 	 	 	 

21

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