Document:

Exhibit
4.5

 

REGISTRATION RIGHTS AGREEMENT

 

 

by and among

 

 

International Lease Finance Corporation

and the Guarantors party hereto

 

and

 

 

Banc of America Securities LLC

Citigroup Global Markets Inc.

J.P. Morgan Securities Inc.

 

 

Dated as of August 20, 2010

 

 

REGISTRATION RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and entered into as of
August 20, 2010, by and among International Lease Finance Corporation, a
California corporation (the “Company”), the Guarantors party hereto
(collectively, the “Guarantors”), Banc of America Securities LLC, Citigroup
Global Markets Inc. and J.P. Morgan Securities Inc., as Representatives (the
“Representatives”) of the several Initial Purchasers listed on Schedule A to
the Purchase Agreement (as defined below) (collectively, the “Initial
Purchasers”), who have severally and not jointly agreed to purchase (x)
$1,350,000,000 aggregate principal amount of the Company’s 61⁄2% Senior Secured
Notes due 2014 issued on the date hereof (the “2014 Notes”), (y) $1,275,000,000
aggregate principal amount of the Company’s 63⁄4% Senior Secured Notes due 2016
issued on the date hereof (the “2016 Notes”) and (z) $1,275,000,000 aggregate
principal amount of the Company’s 71/8% Senior Secured Notes due 2018 issued on the date hereof (the “2018
Notes” and, together with the 2014 Notes and the 2016 Notes, the “Notes”), each
of the series of the Notes fully and unconditionally guaranteed by the
Guarantors (the “Guarantees”), pursuant to the Purchase Agreement (as defined
below).  The Notes and the Guarantees
attached thereto are herein collectively referred to as the “Securities.”

 

This
Agreement is made pursuant to the Purchase Agreement, dated August 11, 2010
(the “Purchase Agreement”), among the Company, the Guarantors and the
Representatives (i) for the benefit of the Initial Purchasers and (ii) for the
benefit of the holders from time to time of the Securities, including the
Initial Purchasers.  In order to induce
the Initial Purchasers to purchase the Securities, the Company has agreed to
provide the registration rights set forth in this Agreement.  The execution and delivery of this Agreement
is a condition to the obligations of the Initial Purchasers set forth in
Section 5(f) of the Purchase Agreement.

 

The
parties hereby agree as follows:

 

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

 

2014 Exchange Notes:  The 61⁄2% Senior Notes due 2014, of the same
series under the Indenture as the 2014 Notes, to be issued to Holders in
exchange for Transfer Restricted Securities pursuant to this Agreement and in
accordance with the terms of the Exchange Offer Registration Statement.

 

2016 Exchange Notes:   The 63⁄4% Senior Notes due 2016, of the same
series under the Indenture as the 2016 Notes, to be issued to Holders in
exchange for Transfer Restricted Securities pursuant to this Agreement and in
accordance with the terms of the Exchange Offer Registration Statement.

 

2018 Exchange Notes:   The 71/8% Senior Notes due 2018, of the same series under the Indenture as the
2018 Notes, to be issued to Holders in exchange for Transfer Restricted
Securities pursuant to this Agreement and in accordance with the terms of the
Exchange Offer Registration Statement.

 

 

Additional Interest:  As defined in
Section 5 hereof.

 

Advice:   As defined
in Section 6(c) hereof.

 

Affiliate:   With
respect to any specified Person, any other Person directly or indirectly
controlling or controlled by or under direct or indirect common control with
such specified Person.  For the purposes
of this definition, “control” when used with respect to any specified Person
means the power to direct the management and policies of such Person, directly
or indirectly, whether through the ownership of voting securities, by contract
or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing.

 

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

 

Business Day:  Any day other than a Saturday, Sunday or U.S.
federal holiday or a day on which banking institutions or trust companies
located in New York, New York are authorized or obligated to be closed.

 

Closing Date:  The date of
this Agreement.

 

Commission:  The U.S.
Securities and Exchange Commission (including acting through its staff).

 

Consummate:  A registered
Exchange Offer shall be deemed “Consummated” for purposes of this Agreement
upon the occurrence of (i) the filing and effectiveness under the Securities
Act of the Exchange Offer Registration Statement relating to the Exchange
Securities to be issued in the Exchange Offer, (ii) the maintenance of such
Registration Statement continuously effective and the keeping of the Exchange
Offer open for a period not less than the minimum period required pursuant to
Section 3(b) hereof, and (iii) the delivery by the Company to the Registrar
under the Indenture of Exchange Securities in the same aggregate principal
amount as the aggregate principal amount of Transfer Restricted Securities that
were validly tendered and not properly withdrawn by Holders thereof pursuant to
the Exchange Offer.

 

Exchange Act:  The Securities
Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

Exchange Date:  As
defined in Section 3(a) hereof.

 

Exchange Offer:  The
registration by the Company under the Securities Act of the Exchange Securities
pursuant to a Registration Statement pursuant to which the Company offers the
Holders of all outstanding Transfer Restricted Securities the opportunity to
exchange all such outstanding Transfer Restricted Securities held by such
Holders for Exchange Securities in an aggregate principal amount equal to the
aggregate principal amount of the Transfer Restricted Securities validly
tendered and not properly withdrawn in such exchange offer by such Holders.

 

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

 

2

 

Exchange Securities:  The 2014
Exchange Notes, the 2016 Exchange Notes and/or the 2018 Exchange Notes and the
Guarantees attached thereto, as applicable.

 

FINRA:  The Financial
Industry Regulatory Authority, Inc.

 

Freely Tradable:  Means, with
respect to a Security, a Security that at any time of determination
(i) may be sold to the public in accordance with Rule 144 under the
Securities Act (“Rule 144”) by a person that is not an “affiliate” (as defined
in Rule 144 under the Securities Act) of the Company where no conditions of
Rule 144 are then applicable (other than the holding period requirement in
paragraph (d) of Rule 144 so long as such holding period requirement is
satisfied at such time of determination), (ii) does not bear any restrictive
legends relating to the Securities Act and (iii) bears an unrestricted CUSIP
number.

 

Holders:  As defined in
Section 2(b) hereof.

 

Indemnified Holder:  As defined in
Section 8(a) hereof.

 

Indenture:  The Indenture,
dated as of August 11, 2010, by and among the Company, the Guarantors and The
Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”)
pursuant to which the Securities are to be issued, as such Indenture is amended
or supplemented from time to time in accordance with the terms thereof.

 

Initial Purchaser:  As defined in
the preamble hereto.

 

Initial Placement:  The issuance
and sale by the Company of the Initial Securities to the Initial Purchasers
pursuant to the Purchase Agreement.

 

Interest Payment Date:  As defined in
the Indenture and the Securities.

 

Initial Securities:  The Securities issued and sold by the Company
to the Initial Purchasers pursuant to the Purchase Agreement on the Closing
Date.

 

Person:  An individual,
partnership, corporation, trust or unincorporated organization, or a government
or agency or political subdivision thereof.

 

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

 

Registration Default:  As defined in
Section 5 hereof.

 

Registration Statement:  Any
registration statement of the Company relating to (a) an offering of Exchange
Securities pursuant to an Exchange Offer or (b) the registration for resale of
Transfer Restricted Securities pursuant to the Shelf Registration Statement,
which is filed pursuant to the provisions of this Agreement, in each case,
including the Prospectus included therein, all amendments and supplements
thereto (including post-effective amendments) and all exhibits and material
incorporated by reference therein.

 

3

 

Securities:  As defined
in the preamble hereto.

 

Securities Act:  The Securities
Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

Shelf Filing Deadline:  As defined in
Section 4(a) hereof.

 

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

 

Transfer Restricted Securities:  The Securities;
provided that the Securities shall cease
to be Transfer Restricted Securities on the earliest to occur of (i) the date
on which 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) the date on which
such Securities cease to be outstanding or (iii) the date on which such
Securities are Freely Tradable.

 

Trust Indenture Act:  The Trust
Indenture Act of 1939, as amended, and the rules and regulations promulgated
thereunder.

 

Underwritten Registration or Underwritten Offering:  A registration in which
securities of the Company are sold to an underwriter for reoffering to the
public.

 

SECTION 2.              Securities
Subject to this Agreement.

 

(a)           Transfer Restricted
Securities.  The securities
entitled to the benefits of this Agreement are the Transfer Restricted
Securities.

 

(b)           Holders of Transfer
Restricted Securities.  A
Person is deemed to be a holder of Transfer Restricted Securities (each, a
“Holder”) whenever such Person is the registered owner or the beneficial owner
(and in each case of a beneficial owner, has provided written notification and
proof of ownership in a manner reasonably satisfactory to the Company) of Transfer
Restricted Securities.

 

SECTION 3.              Registered
Exchange Offer.

 

(a)           Unless the Exchange Offer shall not be permissible under
applicable law or Commission policy (after the procedures set forth in Section
6(a) hereof have been complied with), or there are no Transfer Restricted
Securities outstanding as of the 366th day after the Closing Date (or if such
366th day is not a Business Day, the next succeeding Business Day), each of the
Company and the Guarantors shall (i) use its commercially reasonable efforts to
cause to be filed with the Commission, a Registration Statement under the
Securities Act relating to the Exchange Securities and the Exchange Offer, (ii)
use its commercially reasonable efforts to cause such Registration Statement to
become effective, (iii) in connection with the foregoing, (A) file all
pre-effective amendments to such Registration Statement as may be necessary in
order to cause such Registration Statement to become effective, (B) file if
applicable, a post-effective amendment to such Registration Statement pursuant
to Rule 430A under the Securities Act and (C) cause all necessary filings in
connection with the registration and qualification of the 

 

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Exchange Securities to be made under the state
securities or blue sky laws of such jurisdictions as are necessary to permit
Consummation of the Exchange Offer and (iv) upon the effectiveness of such
Registration Statement, commence the Exchange Offer.  Each of the Company and the Guarantors shall
Consummate the Exchange Offer not later than 450 days following the Closing
Date (or if such 450th day is not a Business Day, the next succeeding Business
Day) (the “Exchange Date”); provided, however, that the Company shall not be required to Consummate
such Exchange Offer if all of the Securities are Freely Tradable on or before
the 366th day following the Closing Date (or if such 366th day is not a
Business Day, the next succeeding Business Day).  The Exchange Offer, if required pursuant to this
Section 3(a), shall be on the appropriate form permitting registration of
the Exchange Securities to be offered in exchange for the Transfer Restricted
Securities and to permit resales of Transfer Restricted Securities held by
Broker-Dealers as contemplated by Section 3(c) hereof.

 

(b)           If an Exchange Offer Registration Statement is required to
be filed and declared effective pursuant to Section 3(a) above, the Company and
the Guarantors shall cause the Exchange Offer Registration Statement to be
effective continuously and shall keep the Exchange Offer open for a period of
not less than the minimum period required under applicable federal and state
securities laws to Consummate the Exchange Offer; provided,
however, that in no event shall such
period be less than 30 days after the date notice of the Exchange Offer is
mailed to the Holders.  The Company shall
cause the Exchange Offer to comply in all material respects with all applicable
federal and state securities laws.  No
securities other than the Exchange Securities shall be included in the Exchange
Offer Registration Statement.  The
Company shall use its commercially reasonable efforts to cause the Exchange
Offer to be Consummated by the Exchange Date; provided,
however, that the Company shall not be required
to Consummate the Exchange Offer if all of the Securities are Freely Tradable
on or before the 366th day following the Closing Date (or if such 366th day is
not a Business Day, the next succeeding Business Day).

 

(c)           The Company shall indicate in a “Plan of Distribution”
section contained in the Prospectus forming a part of the Exchange Offer
Registration Statement that any Broker-Dealer who holds Transfer Restricted
Securities that were acquired for its own account as a result of market-making
activities or other trading activities (other than Transfer Restricted
Securities acquired directly from the Company), may exchange such Transfer
Restricted Securities pursuant to the Exchange Offer; however, such
Broker-Dealer may be deemed to be an “underwriter” within the meaning of the
Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the
Exchange Securities received by such Broker-Dealer in the Exchange Offer, which
prospectus delivery requirement may be satisfied by the delivery by such
Broker-Dealer of the Prospectus contained in the Exchange Offer Registration
Statement.  Such “Plan of Distribution”
section shall also contain all other information with respect to such resales
by Broker-Dealers that the Commission may require in order to permit such
resales pursuant thereto, but such “Plan of Distribution” shall not name any
such Broker-Dealer or disclose the amount of Transfer Restricted Securities
held by any such Broker-Dealer except to the extent required by the Commission.

 

Each
of the Company and the Guarantors shall use its commercially reasonable efforts
to keep the Exchange Offer Registration Statement continuously effective,
supplemented and amended as required by the provisions of Section 6(c) hereof
to the extent necessary to ensure 

 

5

 

that
it is available for resales of Transfer Restricted Securities acquired by
Broker-Dealers for their own accounts as a result of market-making activities
or other trading activities, and to ensure that it conforms with the
requirements of this Agreement, the Securities Act and the policies, rules and
regulations of the Commission as announced from time to time, for a period ending
on the earlier of (i) 180 days from the date on which the Exchange Offer
Registration Statement is declared effective and (ii) the date on which a
Broker-Dealer is no longer required to deliver a prospectus in connection with
market-making or other trading activities.

 

The
Company shall provide sufficient copies of the latest version of such
Prospectus to Broker-Dealers promptly upon request at any time during such
180-day (or shorter as provided in the foregoing sentence) period in order to
facilitate such resales.

 

Notwithstanding
anything in this Section 3 to the contrary, the requirements to file and the
requirements to Consummate the Exchange Offer shall terminate at such time as
all the Securities are Freely Tradable.

 

SECTION 4.              Shelf
Registration.

 

(a)           Shelf Registration.  If (i) the Company is not required to file an
Exchange Offer Registration Statement or to consummate the Exchange Offer
because the Exchange Offer is not permitted by applicable law or Commission
policy (after the procedures set forth in Section 6(a) hereof have been
complied with), (ii) for any reason the Exchange Offer is not Consummated by
the Exchange Date and the Securities are not all Freely Tradable prior to such
time, or (iii) with respect to any Holder of Transfer Restricted Securities
such Holder notifies the Company that (A) such Holder is prohibited by
applicable law or Commission policy from participating in the Exchange Offer,
or (B) such Holder may not resell the Exchange Securities acquired by it in the
Exchange Offer to the public without delivering a prospectus and that the
Prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales by such Holder, or (C) such Holder is
a Broker-Dealer and holds Transfer Restricted Securities acquired directly from
the Company or one of its affiliates, then upon such Holder’s request prior to
the 15th day following the Consummation of the Exchange Offer, the Company and
the Guarantors shall:

 

(x)            cause to be filed a
shelf registration statement pursuant to Rule 415 under the Securities Act,
which may be an amendment to the Exchange Offer Registration Statement (in
either event, the “Shelf Registration Statement”) on or prior to the 30th day
after the date such obligation arises but no earlier than the 366th day after
the Closing Date (or if such 366th day is not a Business Day, the next
succeeding Business Day) (such date being the “Shelf Filing Deadline”), which
Shelf Registration Statement shall provide for resales of all Transfer
Restricted Securities the Holders of which shall have provided the information
required pursuant to Section 4(b) hereof; and

 

(y)           use its commercially
reasonable efforts to cause such Shelf Registration Statement to be declared
effective by the Commission on or before the 60th day after the Shelf Filing
Deadline (or if such 60th day is not a Business Day, the next succeeding
Business Day).

 

6

 

Each
of the Company and the Guarantors shall use its commercially reasonable efforts
to keep such Shelf Registration Statement continuously effective, supplemented
and amended as required by the provisions of Sections 6(b) and (c) hereof to
the extent necessary to ensure that it is available for resales of Transfer Restricted
Securities by the Holders of such Securities entitled to the benefit of this
Section 4(a), and to ensure that it conforms with the requirements of this
Agreement, the Securities Act and the policies, rules and regulations of the
Commission as announced from time to time, from the date on which the Shelf
Registration Statement is declared effective by the Commission (the “Shelf
Effective Date”) until the expiration of the one-year period after the Shelf
Effective Date or such shorter period that will terminate when all the Transfer
Restricted Securities covered by such Shelf Registration Statement have been
sold pursuant to such Shelf Registration Statement or are Freely Tradable; provided that the Company may for a period of up to 60 days
in any three-month period, not to exceed 90 days in any calendar year determine
that the Shelf Registration Statement is not usable under certain circumstances
relating to corporate developments, public filings with the Commission and
similar events, and suspend the use of the prospectus that is part of the Shelf
Registration Statement.  Notwithstanding
anything to the contrary, the requirements to file a Shelf Registration
Statement and to have such Shelf Registration Statement become effective and
remain effective shall terminate at such time as all of the Securities are
Freely Tradable.

 

(b)           Provision by Holders of
Certain Information in Connection with the Shelf Registration Statement.  No Holder of Transfer Restricted
Securities may include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless and until such Holder
furnishes to the Company in writing, within 10 Business Days after receipt of a
request therefor, such information as the Company may reasonably request for
use in connection with any Shelf Registration Statement or Prospectus or
preliminary Prospectus included therein. 
Each Holder as to which any Shelf Registration Statement is being
effected agrees to furnish promptly to the Company all information required to
be disclosed in order to make the information previously furnished to the
Company by such Holder not materially misleading.

 

SECTION 5.              Additional
Interest.  If any of the
Securities are not Freely Tradable Securities by the Exchange Date and either
(i) the Exchange Offer has not been Consummated, (ii) any Shelf Registration
Statement, if required hereby, has not been declared effective by the
Commission within the required time frame or (iii) any Registration Statement
required by this Agreement has been declared effective but ceases to be
effective at any time at which it is required to be effective under this
Agreement (each such event referred to in clauses (i) through (iii), a
“Registration Default”), the Company hereby agrees that the interest rate borne
by the Transfer Restricted Securities shall be increased by 0.25% per annum
during the 90-day period immediately following the occurrence of any
Registration Default and shall increase by 0.25% per annum at the end of each
subsequent 90-day period (such increase, “Additional Interest”), but in no
event shall such increase exceed 0.50% per annum.  At the earlier of (i) the cure of all
Registration Defaults relating to the particular Transfer Restricted Securities
or (ii) the particular Transfer Restricted Securities having become Freely
Tradable, the interest rate borne by the relevant Transfer Restricted
Securities will be reduced to the original interest rate borne by such Transfer
Restricted Securities; provided, however,
that, if after any such reduction in interest rate, a different Registration
Default occurs, the interest rate borne by the relevant Transfer Restricted
Securities shall again be increased pursuant to the foregoing provisions.  Affiliates of the 

 

7

 

Company shall be prohibited from acquiring the Notes
and, if an affiliate of the Company does acquire the Notes, neither it nor its
transferees shall be entitled to the benefits of such Additional Interest.

 

All
obligations of the Company and the Guarantors set forth in the preceding
paragraph that are outstanding with respect to any Transfer Restricted Security
at the time such security ceases to be a Transfer Restricted Security shall
survive until such time as all such obligations with respect to such security
shall have been satisfied in full.

 

Notwithstanding
the foregoing, (i) the amount of Additional Interest payable shall not increase
because more than one Registration Default has occurred and is pending and (ii)
a Holder of Transfer Restricted Securities that is not entitled to the benefits
of the Shelf Registration Statement (because, e.g., such Holder has not elected
to include information or has not timely delivered such information to the
Company pursuant to Section 4(b) hereof) shall not be entitled to Additional
Interest with respect to a Registration Default that pertains to the Shelf
Registration Statement.

 

SECTION 6.              Registration
Procedures.

 

(a)           Exchange Offer
Registration Statement.  In
connection with the Exchange Offer, if required pursuant to Section 3(a)
hereof, the Company and the Guarantors shall comply in all material respects
with all of the provisions of Section 6(c) hereof, shall use its commercially
reasonable efforts to effect such exchange to permit the sale of Transfer
Restricted Securities being sold in accordance with the intended method or
methods of distribution thereof, and shall comply in all material respects with
all of the following provisions:

 

(i)      If in the reasonable opinion of counsel to the Company there is
a question as to whether the Exchange Offer is permitted by applicable law with
respect to the Transfer Restricted Securities, each of the Company and the
Guarantors hereby agrees to seek a no-action letter or other favorable decision
from the Commission allowing the Company and the Guarantors to Consummate an
Exchange Offer for such Initial Securities. 
Each of the Company and the Guarantors hereby agrees to pursue the
issuance of such a decision to the Commission staff level but shall not be
required to take commercially unreasonable action to effect a change of
Commission policy.  Each of the Company
and the Guarantors hereby agrees, however, to (A) participate in telephonic
conferences with the Commission, (B) deliver to the Commission staff an
analysis prepared by counsel to the Company and the Guarantors setting forth
the legal bases, if any, upon which such counsel has concluded that such an
Exchange Offer should be permitted and (C) diligently pursue a favorable
resolution by the Commission staff of such submission.

 

(ii)     As a condition to its participation in the Exchange Offer
pursuant to the terms of this Agreement, each Holder of Transfer Restricted
Securities shall furnish, upon the request of the Company, prior to the Consummation
thereof, a written representation to the Company (which may be contained in the
letter of transmittal contemplated by the Exchange Offer Registration
Statement) to the effect that (A) it is not an affiliate of the Company, (B) it
is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution of the Exchange

 

8

 

Securities to be issued in
the Exchange Offer, (C) it is acquiring the Exchange Securities in its ordinary
course of business, (D) if such Holder is not a Broker-Dealer, that it has not
engaged in and does not intend to engage in, the distribution of Exchange
Securities, (E) if such Holder is a Broker-Dealer, such Holder acquired the
Transfer Restricted Securities as a result of market-making activities or other
trading activities and that it will comply with the applicable provisions of
the Securities Act with respect to any resale of any Exchange Securities, and (F)
such Holder has full corporate (or similar) power and authority to transfer the
Transfer Restricted Securities in exchange for the Exchange Securities.  In addition, all such Holders of Transfer
Restricted Securities shall otherwise cooperate in the Company’s preparations
for the Exchange Offer.  Each Holder
hereby acknowledges and agrees that any Broker-Dealer and any such Holder using
the Exchange Offer to participate in a distribution of the securities to be
acquired in the Exchange Offer (1) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the Commission
enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon
Capital Holdings Corporation (available May 13, 1988), as interpreted in
the Commission’s letter to Shearman & Sterling dated July 2, 1993, and
similar no-action letters (which may include any no-action letter obtained
pursuant to clause (i) above), and (2) must comply with the registration and
prospectus delivery requirements of the Securities Act in connection with a
secondary resale transaction and that such a secondary resale transaction
should be covered by an effective registration statement containing the selling
security holder information required by Item 507 or 508, as applicable, of
Regulation S-K if the resales are of Exchange Securities obtained by such
Holder in exchange for Initial Securities acquired by such Holder directly from
the Company.

 

(b)           Shelf Registration
Statement.  If required
pursuant to Section 4, in connection with the Shelf Registration Statement,
each of the Company and the Guarantors shall comply in all material respects
with all the provisions of Section 6(c) hereof and shall use its commercially
reasonable efforts to effect such registration to permit the sale of the
Transfer Restricted Securities being sold in accordance with the intended
method or methods of distribution thereof, and pursuant thereto each of the
Company and the Guarantors will use commercially reasonable efforts to
expeditiously prepare and file with the Commission a Registration Statement
relating to the registration on any appropriate form under the Securities Act,
which form shall be available for the sale of the Transfer Restricted
Securities in accordance with the intended method or methods of distribution
thereof.

 

(c)           General Provisions.  In connection with any
Registration Statement and any Prospectus required by this Agreement to permit
the sale or resale of Transfer Restricted Securities (including, without
limitation, any Registration Statement and the related Prospectus required to
permit resales of Transfer Restricted Securities by Broker-Dealers), each of
the Company and the Guarantors shall:

 

(i)      use its commercially reasonable efforts to keep such
Registration Statement continuously effective and provide all requisite
financial statements (including, if required by the Securities Act or any
regulation thereunder, financial statements of the Guarantors) for the period
specified in Section 3 or 4 hereof, as applicable; upon the occurrence

 

9

 

of any event that would
cause any such Registration Statement or the Prospectus contained therein (A)
to contain a material misstatement or omission or (B) not to be effective and usable
for resale of Transfer Restricted Securities during the period required by this
Agreement, the Company shall file promptly an appropriate amendment to such
Registration Statement, in the case of clause (A), correcting any such
misstatement or omission, and, in the case of either clause (A) or (B), use its
commercially reasonable efforts to cause such amendment to be declared
effective and such Registration Statement and the related Prospectus to become
usable for their intended purpose(s) as soon as practicable thereafter;

 

(ii)     prepare and file with the Commission such amendments and
post-effective amendments to the applicable Registration Statement as may be
necessary to keep the Registration Statement effective for the applicable
period set forth in Section 3 or 4 hereof, as applicable, or such shorter
period as will terminate when all Transfer Restricted Securities covered by
such Registration Statement have been sold or are Freely Tradable; cause the
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 to
comply in all material respects with the applicable provisions of Rules 424 and
430A under the Securities Act in a timely manner; and comply in all material
respects with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration Statement during the
applicable period in accordance with the intended method or methods of
distribution by the sellers thereof set forth in such Registration Statement or
supplement to the Prospectus;

 

(iii)    advise the underwriter(s), if any, and selling Holders named in
any Shelf Registration Statement promptly and, if requested by such Persons, to
confirm such advice in writing, (A) when the Prospectus or any Prospectus
supplement or post-effective amendment has been filed, and, with respect to any
Registration Statement or any post-effective amendment thereto, when the same
has become effective, (B) of any request by the Commission for amendments to
the Registration Statement or amendments or supplements to the Prospectus or
for additional information relating thereto, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the Registration
Statement under the Securities Act or of the suspension by any state securities
commission of the qualification of the Transfer Restricted Securities for
offering or sale in any jurisdiction, or the initiation of any proceeding for
any of the preceding purposes, (D) of the existence of any fact or the
happening of any event that makes any statement of a material fact made in the
Registration Statement, the Prospectus, any amendment or supplement thereto, or
any document incorporated by reference therein untrue, or that requires the
making of any additions to or changes in the Registration Statement or the
Prospectus in order to make the statements therein not misleading; provided, however, that
the Company shall not be required to disclose the nature of any such fact or
event.  If at any time the Commission
shall issue any stop order suspending the effectiveness of the Registration
Statement, or any state securities commission or other regulatory authority
shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or
blue sky laws, each of the Company 

 

10

 

and the Guarantors shall use
its commercially reasonable efforts to obtain the withdrawal or lifting of such
order at the earliest possible time;

 

(iv)    furnish without charge to each of the Initial Purchasers, subject
to customary confidentiality agreements, each selling Holder named in any
Registration Statement, and each of the underwriter(s), if any, before filing
with the Commission, copies of any Registration Statement or any Prospectus
included therein or any amendments or supplements to any such Registration
Statement or Prospectus (including all documents incorporated by reference
after the initial filing of such Registration Statement), which documents will
be subject to the review and comment of such Holders and underwriter(s) in
connection with such sale, if any, for a period of at least five Business Days,
and the Company will not file any such Registration Statement or Prospectus or
any amendment or supplement to any such Registration Statement or Prospectus
(including all such documents incorporated by reference) to which an Initial
Purchaser of Transfer Restricted Securities covered by such Registration
Statement or the underwriter(s), if any, shall reasonably object in writing
within five Business Days after the receipt thereof (such objection to be
deemed timely made upon confirmation of telecopy transmission within such
period).  The objection of an Initial
Purchaser or underwriter, if any, shall be deemed to be reasonable if such
Registration Statement, amendment, Prospectus or supplement, as applicable, as
proposed to be filed, contains a material misstatement or omission;

 

(v)     make available, subject to customary confidentiality agreements,
at reasonable times for inspection by the Initial Purchasers, the managing
underwriter(s), if any, participating in any disposition pursuant to such
Registration Statement and any attorney or accountant retained by such Initial
Purchasers or any of the underwriter(s), all financial and other records,
pertinent corporate documents and properties of each of the Company and the
Guarantors and cause the Company’s and the Guarantors’ officers, directors and
employees to supply all information reasonably requested by any such Holder,
underwriter, attorney or accountant in connection with such Registration
Statement or any post-effective amendment thereto subsequent to the filing thereof
and prior to its effectiveness and to participate in meetings with investors to
the extent requested by the managing underwriter(s), if any, in each case at
reasonable times and in a reasonable manner;

 

(vi)    if requested by any selling Holders named in any Shelf
Registration Statement or the underwriter(s), if any, promptly incorporate in
any Registration Statement or Prospectus, pursuant to a supplement or
post-effective amendment if necessary, such information as such selling Holders
and underwriter(s), if any, may reasonably request to have included therein,
including, without limitation, information relating to the “Plan of
Distribution” of the Transfer Restricted Securities, information with respect
to the principal amount of Transfer Restricted Securities being sold to such
underwriter(s), the purchase price being paid therefor and any other terms of
the offering of the Transfer Restricted Securities to be sold in such offering;
and make all required filings of such Prospectus supplement or post-effective
amendment as soon as practicable after the Company is notified of the matters
to be incorporated in such Prospectus supplement or post-effective amendment;

 

11

 

(vii)         cause the
Transfer Restricted Securities covered by the Registration Statement to be
rated with the appropriate rating agencies, if so requested by the Holders of a
majority in aggregate principal amount of Securities covered thereby or the
underwriter(s), if any;

 

(viii)        furnish to each
Initial Purchaser, each selling Holder named in any Shelf Registration
Statement and each of the underwriter(s), if any, without charge, at least one
copy of the Registration Statement, as first filed with the Commission, and of
each amendment thereto, including financial statements and schedules, all
documents incorporated by reference therein and all exhibits (including
exhibits incorporated therein by reference) provided, however, that for so long as the Company’s filings with the
Commission are available on the EDGAR system (or any successor system that
provides general on-line access to the public), such requirement shall be
satisfied by any such filing;

 

(ix)           deliver to each
selling Holder named in any Shelf Registration Statement and each of the
underwriter(s), if any, without charge, as many copies of the Prospectus
(including each preliminary prospectus) and any amendment or supplement thereto
as such Persons reasonably may request; each of the Company and the Guarantors
hereby consents to the use of the Prospectus and any amendment or supplement
thereto by each of the selling Holders and each of the underwriter(s), if any,
in connection with the offering and the sale of the Transfer Restricted
Securities covered by the Prospectus or any amendment or supplement thereto;

 

(x)            In the case of
any Underwritten Registration or Underwritten Offering, enter into such
agreements (including an underwriting agreement), and make such representations
and warranties, and take all such other actions in connection therewith in
order to expedite or facilitate the disposition of the Transfer Restricted
Securities pursuant to any Shelf Registration Statement contemplated by this
Agreement, all to such extent as may be requested by any underwriter in
connection with any sale or resale pursuant to any Shelf Registration Statement
contemplated by this Agreement; and in connection with any sale or resale
pursuant to a Shelf Registration Statement, whether or not an underwriting
agreement is entered into and whether or not the registration is an
Underwritten Registration, in connection with the offer and sale pursuant to an
Underwritten Offering or by a Broker-Dealer complying with the terms hereof,
each of the Company and the Guarantors shall:

 

(A)          furnish to such
selling Broker-Dealer or each underwriter, as applicable, in such substance and
scope as they may request and as are customarily made by issuers to
underwriters in primary underwritten offerings, on the dates customarily
provided for in the underwriting (or similar) agreements:

 

(1)           a certificate,
signed by (y) the President or any Vice President and (z) the Chief Financial
Officer of each of the Company and the Guarantors, confirming, as of the
applicable date, the matters set forth in paragraphs (i), (ii) and (iii) of
Section 5(e) of the Purchase Agreement and such other matters as such parties
may reasonably request;

 

12

 

(2)           an opinion,
dated the closing date with respect to such offering, of counsel for the
Company and the Guarantors, covering the matters set forth in Section 5(c) of
the Purchase Agreement and such other matters as such parties may reasonably
request; and

 

(3)           a customary
comfort letter, dated the date of the offering document, from the Company’s
independent accountants, in the customary form and covering matters of the type
customarily requested to be covered in comfort letters by underwriters in
connection with primary underwritten offerings, and covering or affirming the
matters set forth in the comfort letters delivered pursuant to Section 5(a) of
the Purchase Agreement, without exception;

 

(B)           provide for in
any such underwriting (or similar) agreement, customary indemnification
provisions and procedures; and

 

(C)           deliver such
other documents and certificates as may be reasonably requested by such parties
to evidence compliance with Section 6(c)(xi)(A) hereof and with any customary
conditions contained in the underwriting agreement or other agreement entered
into by the Company or any of the Guarantors pursuant to this Section 6(c)(xi),
if any.

 

If at any time during the applicable periods covered by Section 3 or 4
hereof, the representations and warranties of the Company and the Guarantors
contemplated in Section 6(c)(xi)(A)(1) hereof cease to be true and correct, the
Company and the Guarantors shall so advise the Initial Purchasers and the
underwriter(s), if any, and each selling Holder promptly and, if requested by
such Persons, shall confirm such advice in writing;

 

(xi)           prior to any
public offering of Transfer Restricted Securities, cooperate with the selling
Holders named in any Shelf Registration Statement, the underwriter(s), if any,
and their respective counsel in connection with the registration and qualification
of the Transfer Restricted Securities under the state securities or blue sky
laws of such jurisdictions as the selling Holders or underwriter(s), if any,
may request and do any and all other acts or things necessary or advisable to
enable the disposition in such jurisdictions of the Transfer Restricted
Securities covered by the Shelf Registration Statement; provided,
however, that none of the Company nor
the Guarantors shall be required to register or qualify as a foreign
corporation where it is not then so qualified or to take any action that would
subject it to the service of process in suits or to taxation, other than as to
matters and transactions relating to the Registration Statement, in any
jurisdiction where it is not then so subject;

 

(xii)          shall issue,
upon the request of any Holder of Transfer Restricted Securities covered by the
Exchange Offer Registration Statement, Exchange Securities having an aggregate
principal amount equal to the aggregate principal amount of Transfer Restricted
Securities surrendered to the Company by such Holder in exchange therefor or
being sold by such Holder; such Exchange Securities to be registered in the
name of such Holder or in the name of the purchaser(s) of such Exchange
Securities, as the case may 

 

13

 

be; in return, the Transfer Restricted Securities
held by such Holder shall be surrendered to the Company for cancellation;

 

(xiii)         cooperate with
the selling Holders named in any Shelf Registration Statement and the
underwriter(s), if any, to facilitate the timely preparation and delivery of
certificates representing Transfer Restricted Securities to be sold and not
bearing any restrictive legends; and enable such Transfer Restricted Securities
to be in such denominations and registered in such names as the Holders or the
underwriter(s), if any, may request at least two Business Days prior to any
sale of Transfer Restricted Securities made by such Holders or underwriter(s);

 

(xiv)        use its
commercially reasonable efforts to cause the Transfer Restricted Securities
covered by the Registration Statement to be registered with or approved by such
other governmental agencies or authorities as may be necessary to enable the
seller or sellers thereof or the underwriter(s), if any, to consummate the
disposition of such Transfer Restricted Securities, subject to the proviso
contained in Section 6(c)(xii) hereof;

 

(xv)         if any fact or
event contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred,
prepare a supplement or post-effective amendment to the Registration Statement
or related Prospectus or any document incorporated therein by reference or file
any other required document so that, as thereafter delivered to the purchasers
of Transfer Restricted Securities, the Prospectus will not contain an untrue
statement of a material fact or omit to state any material fact necessary in
order to make the statements therein not misleading;

 

(xvi)        provide a CUSIP
number for all Securities not later than the effective date of the Registration
Statement covering such Securities and provide the Trustee under the Indenture
with printed certificates for such Securities which are in a form eligible for
deposit with the Depository Trust Company and take all other action necessary
to ensure that all such Securities are eligible for deposit with the Depository
Trust Company;

 

(xvii)       cooperate and
assist in any filings required to be made with the FINRA and in the performance
of any due diligence investigation by any underwriter (including any “qualified
independent underwriter”) that is required to be retained in accordance with
the rules and regulations of the FINRA;

 

(xviii)      otherwise use
its commercially reasonable efforts to comply in all material respects with all
applicable rules and regulations of the Commission, and make generally
available to its security holders, as soon as practicable, a consolidated
earnings statement meeting the requirements of Rule 158 of the Securities Act
(which need not be audited) for the twelve-month period (A) commencing at the
end of any fiscal quarter in which Transfer Restricted Securities are sold to
underwriters in a firm commitment or commercially reasonable efforts
Underwritten Offering or (B) if not sold to underwriters in such an offering,
beginning with the first month of the Company’s first fiscal quarter commencing
after the effective date of the Registration Statement;

 

14

 

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

 

(xx)          provide
promptly to each Holder upon request each document filed with the Commission
pursuant to the requirements of Section 13 and Section 15 of the Exchange Act.

 

Each
Holder agrees by acquisition of a Transfer Restricted Security that, upon
receipt of any notice from the Company of the existence of any fact of the kind
described in Section 6(c)(iii)(D) hereof, such Holder will forthwith
discontinue disposition of Transfer Restricted Securities pursuant to the
applicable Registration Statement until such Holder’s receipt of the copies of
the supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof,
or until it is advised in writing (the “Advice”) by the Company that the use of
the Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus.  If so directed by the Company, each Holder
will deliver to the Company (at the Company’s expense) all copies, other than
permanent file copies then in such Holder’s possession, of the Prospectus
covering such Transfer Restricted Securities that was current at the time of
receipt of such notice.  In the event the
Company shall give any such notice, the time period regarding the effectiveness
of such Registration Statement set forth in Section 3 or 4 hereof, as
applicable, shall be extended by the number of days during the period from and
including the date of the giving of such notice pursuant to Section
6(c)(iii)(D) hereof to and including the date when each selling Holder covered
by such Registration Statement shall have received the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof or
shall have received the Advice; provided, however,
that no such extension shall be taken into account in determining whether
Additional Interest is due pursuant to Section 5 hereof or the amount of such
Additional Interest, it being agreed that the Company’s option to suspend use
of a Registration Statement pursuant to this paragraph shall be treated as a
Registration Default for purposes of Section 5 hereof.

 

SECTION 7.           Registration
Expenses.

 

(a)           All expenses incident
to the Company’s and the Guarantors’ performance of or compliance with this
Agreement will be borne by the Company and the Guarantors, regardless of
whether a Registration Statement becomes effective, including, without
limitation: (i) all registration and filing fees and expenses (including
filings made by any Initial Purchaser or Holder with the FINRA (and, if
applicable, the fees and expenses of any “qualified independent underwriter”
and its counsel that may be required by the rules and regulations of the
FINRA)); (ii) all fees and expenses of compliance with federal securities and
state securities or blue sky laws; (iii) all expenses of printing (including
printing certificates for the Exchange Securities to be issued in the Exchange
Offer and printing of Prospectuses), messenger and delivery services and telephone;

 

15

 

(iv)
all fees and disbursements of counsel for the Company and the Guarantors and,
subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities;
(v) all application and filing fees in connection with listing the Exchange
Securities on a securities exchange or automated quotation system pursuant to
the requirements thereof; and (vi) all fees and disbursements of independent
certified public accountants of the Company and the Guarantors (including the
expenses of any special audit and comfort letters required by or incident to
such performance).

 

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

 

Each
Holder shall pay underwriting discounts and commissions, and the fees of any
counsel retained by or on behalf of the underwriters, and transfer taxes, if
any, related to the sale or disposition of a Holder’s Securities pursuant to
any Shelf Registration Statement.

 

(b)           In connection
with any Registration Statement required by this Agreement (including, without
limitation, the Exchange Offer Registration Statement and the Shelf
Registration Statement), the Company and the Guarantors will reimburse the
Initial Purchasers and the Holders of Transfer Restricted Securities being
tendered in the Exchange Offer and/or resold pursuant to the “Plan of
Distribution” contained in the Exchange Offer Registration Statement or
registered pursuant to the Shelf Registration Statement, as applicable, for the
reasonable fees and disbursements of not more than one counsel, who shall be
Cahill Gordon & Reindel LLP or such other counsel as may be chosen by the
Holders of a majority in principal amount of the Transfer Restricted Securities
for whose benefit such Registration Statement is being prepared.

 

SECTION 8.           Indemnification.

 

(a)           The Company and
the Guarantors, jointly and severally, agree to indemnify and hold harmless (i)
each Holder and (ii) each Person, if any, who controls (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act) any Holder
(any of the Persons referred to in this clause (ii) being hereinafter referred
to as a “controlling person”) and (iii) the respective officers, directors,
partners, employees, representatives and agents of any Holder or any
controlling person (any Person referred to in clause (i), (ii) or (iii) may
hereinafter be referred to as an “Indemnified Holder”), to the fullest extent
lawful, from and against any and all losses, claims, damages, liabilities,
judgments, actions and expenses (including, without limitation, and as
incurred, reimbursement of all reasonable costs of investigating, preparing,
pursuing, settling, compromising, paying or defending any claim or action, or
any investigation or proceeding by any governmental agency or body, commenced
or threatened, including the reasonable fees and expenses of counsel to any
Indemnified Holder), joint or several, directly or indirectly caused by,
related to, based upon, arising out of or in connection with any untrue
statement or alleged untrue statement of a material fact contained in any
Registration Statement or Prospectus (or any amendment or supplement thereto),
or any omission or alleged omission to state therein a material fact required
to be stated therein or necessary to make the statements therein not
misleading, except insofar as such losses, claims, damages, liabilities or
expenses are caused by an untrue statement or omission or alleged untrue
statement or omission that is made in reliance upon and in conformity with
information relating to any of the Holders furnished in writing to 

 

16

 

the
Company by any of the Holders expressly for use therein.  This indemnity agreement shall be in addition
to any liability which the Company or any of the Guarantors may otherwise have.

 

In
case any action or proceeding (including any governmental or regulatory
investigation or proceeding) shall be brought or asserted against any of the
Indemnified Holders with respect to which indemnity may be sought against the
Company or the Guarantors, such Indemnified Holder (or the Indemnified Holder
controlled by such controlling person) shall promptly notify the Company and
the Guarantors in writing; provided, however, that the failure to give such notice shall not
relieve any of the Company or the Guarantors of its obligations pursuant to
this Agreement except to the extent that it has been prejudiced (through the
forfeiture of substantive rights or defenses) by such failure.  Such Indemnified Holder shall have the right
to employ its own counsel in any such action and the fees and expenses of such
counsel shall be paid, as incurred, by the Company and the Guarantors.  The Company and the Guarantors shall not, in
connection with any one such action or proceeding or separate but substantially
similar or related actions or proceedings in the same jurisdiction arising out
of the same general allegations or circumstances, be liable for the reasonable
fees and expenses of more than one separate firm of attorneys (in addition to
any local counsel) at any time for such Indemnified Holders, which firm shall
be designated by the Holders.  The
Company and the Guarantors shall be liable for any settlement of any such
action or proceeding effected with the Company’s and the Guarantors’ prior
written consent, which consent shall not be withheld unreasonably, and each of
the Company and the Guarantors agrees to indemnify and hold harmless any
Indemnified Holder from and against any loss, claim, damage, liability or
expense by reason of any settlement of any action effected with the written
consent of the Company and the Guarantors. 
The Company and the Guarantors shall not, without the prior written
consent of each Indemnified Holder, settle or compromise or consent to the
entry of judgment in or otherwise seek to terminate any pending or threatened
action, claim, litigation or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not any Indemnified Holder is
a party thereto), unless such settlement, compromise, consent or termination
includes an unconditional release of each Indemnified Holder from all liability
arising out of such action, claim, litigation or proceeding.

 

(b)           Each Holder of
Transfer Restricted Securities agrees, severally and not jointly, to indemnify
and hold harmless the Company, the Guarantors and their respective directors,
officers of the Company and the Guarantors who sign a Registration Statement,
and any Person controlling (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) the Company or any of the Guarantors,
and the respective officers, directors, partners, employees, representatives
and agents of each such Person, to the same extent as the foregoing indemnity
from the Company and the Guarantors to each of the Indemnified Holders, but
only with respect to claims and actions based on information relating to such
Holder furnished in writing by such Holder expressly for use in any
Registration Statement.  In case any
action or proceeding shall be brought against the Company, the Guarantors or
their respective directors or officers or any such controlling person in
respect of which indemnity may be sought against a Holder of Transfer
Restricted Securities, such Holder shall have the rights and duties given the
Company and the Guarantors, and the Company, the Guarantors and their
respective directors and officers and such controlling person shall have the
rights and duties given to each Holder by the preceding paragraph.

 

17

 

(c)           If the
indemnification provided for in this Section 8 is unavailable to an indemnified
party under Section 8(a) or (b) hereof (other than by reason of exceptions
provided in those Sections) in respect of any losses, claims, damages,
liabilities, judgments, actions or expenses referred to therein, then each
applicable indemnifying party, in lieu of indemnifying such indemnified party,
shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages, liabilities or expenses in such
proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantors, on the one hand, and the Holders, on the other
hand, from the Initial Placement (which in the case of the Company and the
Guarantors shall be deemed to be equal to the total gross proceeds to the
Company and the Guarantors from the Initial Placement), the amount of
Additional Interest which did not become payable as a result of the filing of
the Registration Statement resulting in such losses, claims, damages,
liabilities, judgments actions or expenses, and such Registration Statement, or
if such allocation is not permitted by applicable law, the relative fault of
the Company and the Guarantors, on the one hand, and the Holders, on the other
hand, in connection with the statements or omissions which resulted in such
losses, claims, damages, liabilities or expenses, as well as any other relevant
equitable considerations.  The relative
fault of the Company and the Guarantors on the one hand and of the Indemnified
Holder 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 and the Guarantors, on the one hand, or the Indemnified
Holders, on the other hand, and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or
omission.  The amount paid or payable by
a party as a result of the losses, claims, damages, liabilities and expenses
referred to above shall be deemed to include, subject to the limitations set
forth in the second paragraph of Section 8(a) hereof, any legal or other fees
or expenses reasonably incurred by such party in connection with investigating
or defending any action or claim.

 

The
Company, the Guarantors and each Holder of Transfer Restricted Securities agree
that it would not be just and equitable if contribution pursuant to this
Section 8(c) were determined by pro rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation
which does not take account of the equitable considerations referred to in the
immediately preceding paragraph.  The
amount paid or payable by an indemnified party as a result of the losses,
claims, damages, liabilities or expenses referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim.  Notwithstanding the provisions
of this Section 8, none of the Holders (and its related Indemnified Holders)
shall be required to contribute, in the aggregate, any amount in excess of the
amount by which the total discount received by such Holder with respect to the
Initial Securities exceeds the amount of any damages which such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. 
No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the 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 8(c) are several in proportion to the respective
principal amount of Initial Securities held by each of the Holders hereunder
and not joint.

 

18

 

SECTION 9.           Rule
144A.  Each
of the Company and the Guarantors hereby agrees with each Holder, for so long
as any Transfer Restricted Securities remain outstanding, to make available to
any Holder or beneficial owner of Transfer Restricted Securities in connection
with any sale thereof and any prospective purchaser of such Transfer Restricted
Securities from such Holder or beneficial owner, the information required by
Rule 144A(d)(4) under the Securities Act in order to permit resales of such
Transfer Restricted Securities pursuant to Rule 144A under the Securities Act.

 

SECTION 10.         Participation
in Underwritten Registrations.  No Holder may
participate in any Underwritten Registration hereunder unless such Holder (a)
agrees to sell such Holder’s Transfer Restricted Securities on the basis
provided in any underwriting arrangements approved by the Persons entitled
hereunder to approve such arrangements and (b) completes and executes all
reasonable questionnaires, powers of attorney, indemnities, underwriting
agreements, lock-up letters and other documents required under the terms of
such underwriting arrangements.

 

SECTION 11.         Selection
of Underwriters.  The Holders of
Transfer Restricted Securities covered by the Shelf Registration Statement who
desire to do so may sell such Transfer Restricted Securities in an Underwritten
Offering.  In any such Underwritten
Offering, the investment banker(s) and managing underwriter(s) that will
administer such offering will be selected by the Holders of a majority in
aggregate principal amount of the Transfer Restricted Securities included in
such offering; provided, however,
that such investment banker(s) and managing underwriter(s) must be reasonably
satisfactory to the Company.

 

SECTION 12.         Miscellaneous.

 

(a)           Remedies.  Each
of the Company and the Guarantors hereby agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it
of the provisions of this Agreement and hereby agree to waive the defense in
any action for specific performance that a remedy at law would be adequate.

 

(b)           No
Inconsistent Agreements.  Each of the Company and the Guarantors will not on or after the
date of this Agreement enter into any agreement with respect to its securities
that is inconsistent with the rights granted to the Holders in this Agreement
or otherwise conflicts with the provisions hereof.  Neither the Company nor any of the Guarantors
has previously entered into any agreement granting any registration rights with
respect to its securities to any Person. 
The rights granted to the Holders hereunder do not in any way conflict
with and are not inconsistent with the rights granted to the holders of the
Company’s or any of the Guarantors’ securities under any agreement in effect on
the date hereof.

 

(c)           Adjustments
Affecting the Securities.  The Company
will not take any action, or permit any change to occur, with respect to the
Securities that would materially and adversely affect the ability of the
Holders to Consummate any Exchange Offer.

 

(d)           Amendments
and Waivers.  The provisions
of this Agreement may not be amended, modified or supplemented, and waivers or
consents to or departures from the provisions hereof may not be given unless
the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i),
obtained the written consent of Holders of all outstanding Transfer Restricted 

 

19

 

Securities
and (ii) in the case of all other provisions hereof, obtained the written
consent of Holders of a majority of the outstanding principal amount of
Transfer Restricted Securities (excluding any Transfer Restricted Securities
held by the Company or its Affiliates). 
Notwithstanding the foregoing, a waiver or consent to departure from the
provisions hereof that relates exclusively to the rights of Holders whose
securities are being tendered pursuant to the Exchange Offer and that does not
affect directly or indirectly the rights of other Holders whose securities are
not being tendered pursuant to such Exchange Offer may be given by the Holders
of a majority of the outstanding principal amount of Transfer Restricted
Securities being tendered or registered; provided, however,
that, with respect to any matter that directly or indirectly affects the rights
of any Initial Purchaser hereunder, the Company shall obtain the written
consent of each such Initial Purchaser with respect to which such amendment,
qualification, supplement, waiver, consent or departure is to be effective.

 

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

 

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

 

(ii)           if to the
Company and the Guarantors:

 

	
  International Lease Finance Corporation

  
	
  10250 Constellation Blvd., Suite 3400

  
	
  Los Angeles, California  90067

  
	
  Telecopier No.: 
  (310) 788-1999

  
	
  Attention:

  	
  Frederick
  S. Cromer

  
	
   

  	
  Pamela S. Hendry

  
	
   

  
	
  With a copy to:

  
	
   

  
	
  O’Melveny & Myers LLP

  
	
  1999 Avenue of the Stars, 7th Floor

  
	
  Los Angeles, CA 90067

  
	
  Telecopier No.: 
  (310) 246-6779

  
	
  Attention:  John-Paul Motley

  

 

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 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.

 

20

 

(f)            Successors
and Assigns.  This Agreement
shall inure to the benefit of and be binding upon the successors and assigns of
each of the parties, including, without limitation, and without the need for an
express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, that
this Agreement shall not inure to the benefit of or be binding upon a successor
or assign of a Holder unless and to the extent such successor or assign
acquired Transfer Restricted Securities from such Holder.

 

(g)           Counterparts.  This Agreement may be
executed in any number of counterparts and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same
agreement.  Delivery of an executed
counterpart of a signature page to this Agreement by facsimile, email or other
electronic means shall be effective as delivery of a manually executed
counterpart of this Agreement.

 

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

 

(i)            Governing
Law.  THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF.

 

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

 

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

 

21

 

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

 

	
   

  	
   

  	
  INTERNATIONAL
  LEASE FINANCE CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Pamela S. Hendry

  
	
   

  	
   

  	
   

  	
  Name:
  Pamela S. Hendry

  
	
   

  	
   

  	
   

  	
  Title:
  Senior Vice President and Treasurer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SIGNED
  AND DELIVERED AS A DEED

  
	
   

  	
   

  	
  for
  and on behalf of

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ILFC
  IRELAND LIMITED

  
	
   

  	
   

  	
  by
  its duly appointed attorney:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Niall C. Sommerville

  
	
   

  	
   

  	
  Name:
  Niall C. Sommerville

  
	
   

  	
   

  	
  Title:
  Attorney

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  in
  the presence of:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/
  Ciara Russell 

  
	
   

  	
   

  	
  Name:
  Ciara Russell 

  
	
   

  	
   

  	
  Occupation:
  Solicitor

  
	
   

  	
   

  	
  Address:
  IFSC, North Wall Quay, Dublin 1

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ILFC
  (BERMUDA) III, LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Pamela S. Hendry

  
	
   

  	
   

  	
   

  	
  Name:
  Pamela S. Hendry

  
	
   

  	
   

  	
   

  	
  Title:
  Director

  

 

22

 

The
foregoing Registration Rights Agreement is hereby confirmed and accepted as of
the date first above written:

 

	
  BANC
  OF AMERICA SECURITIES LLC

  	
   

  	
   

  
	
  CITIGROUP
  GLOBAL MARKETS INC.

  	
   

  	
   

  
	
  J.P.
  MORGAN SECURITIES INC.

  	
   

  	
   

  
	
  Acting on behalf of themselves and as the Representatives of the
  several Initial Purchasers 

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  Banc
  of America Securities LLC

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  David Izard

  	
   

  	
   

  
	
   

  	
  Managing
  Director

  	
   

  	
   

  

 

23

 

	
  By:

  	
  Citigroup
  Global Markets Inc. 

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Chandru M. Harjani

  	
   

  	
   

  
	
   

  	
  Name:
  Chandru M. Harjani

  	
   

  	
   

  
	
   

  	
  Title:
  Director

  	
   

  	
   

  

 

24

 

	
  By:

  	
  J.P.
  Morgan Securities Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Maria Sramek

  	
   

  	
   

  
	
   

  	
  Name:
  Maria Sramek

  	
   

  	
   

  
	
   

  	
  Title:
  Executive Director

  	
   

  	
   

  

 

25Exhibit 4.6

 

INTERNATIONAL LEASE FINANCE CORPORATION

 

TO

 

DEUTSCHE BANK TRUST COMPANY AMERICAS

as Trustee

 

 

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of August 20, 2010

 

to the

 

INDENTURE

Dated as of August 1, 2006

 

 

 

This
FIRST SUPPLEMENTAL INDENTURE, dated as of August 20, 2010 (this “Supplemental
Indenture”) from International Lease Finance Corporation, a corporation
duly organized and existing under the laws of the State of California (herein
called the “Company”) to Deutsche Bank Trust Company Americas, a New
York banking corporation, as Trustee (herein called the “Trustee”).

 

RECITALS

 

WHEREAS,
the Company and the Trustee have heretofore executed and delivered an
indenture, dated as of August 1, 2006 (the “Indenture”), providing
for the issuance from time to time of its debt securities (herein called the “Securities”),
to be issued in one or more series as provided in the Indenture;

 

WHEREAS,
the Company has authorized the issuance of $500,000,000 aggregate principal
amount of Senior Notes due 2017 (the “2017 Notes”) pursuant to an
Officer’s Certificate under Section 301 of the Indenture;

 

WHEREAS,
Section 901(5) of the Indenture provides that without the consent of
the Holders, the Company and the Trustee may add to, change or eliminate any of
the provisions of the Indenture in respect of one or more series of Securities,
subject to certain requirements;

 

WHEREAS,
pursuant to Section 901(5) of the Indenture, the Company and the
Trustee wish to amend the Indenture solely with respect to certain provisions
of the 2017 Notes and no other series of Securities issued under the Indenture;
and

 

WHEREAS,
all conditions precedent provided for in Section 901 of the Indenture with
respect to the execution of this Supplemental Indenture have been complied
with.

 

NOW,
THEREFORE, in consideration of the foregoing, the Company and the Trustee agree
as follows:

 

1.     Definitions.  All capitalized terms used
herein and not defined shall have the meanings set forth in the Indenture.

 

2.     Amendment of Section 506 of
the Indenture.  The Indenture,
solely with respect to the 2017 Notes, is hereby supplemented by adding the
words “and property” after “Any money” in the first sentence of Section 506,
deleting the period at the end of Section 506, replacing such period with “;
and,” and adding the following:

 

“THIRD: If any funds shall be left remaining, to the
Company.”

 

3.     Amendment of Section 703 of
the Indenture.  The Indenture,
solely with respect to the 2017 Notes, is hereby supplemented by replacing all
references to “May” in Section 703(1) with “March”.

 

 

4.     Amendment of Section 704 of
the Indenture.  The Indenture,
solely with respect to the 2017 Notes, is hereby supplemented by replacing the
introductory phrase to Section 704(1) “deliver to the Trustee, within
15 days after the Company files” with “deliver to the Trustee, within 15 days
after the Company is required to file,” and replacing the introductory phrase
to Section 704(4) “furnish to the Trustee, no less often than
annually” with “furnish to the Trustee, within 120 days of the end of each
fiscal year of the Company”.

 

5.     Amendment of Section 902 of
the Indenture.  The Indenture,
solely with respect to the 2017 Notes, is hereby supplemented by adding to the
end of Section 902(2) “amend, change or modify any provision of this
Indenture affecting the ranking of any Outstanding Security in a manner adverse
to the Holders of each Outstanding Security affected thereby, or”.

 

6.     Ratification.  Except as hereby expressly
amended, the Indenture is in all respects ratified and confirmed and all the
terms, provisions and conditions thereof shall be and remain in full force and
effect.

 

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

 

8.     Separability.  In case any provision in this
Supplemental Indenture shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

 

9.     Effect of Headings.  The section headings herein
are for convenience only and shall not affect the construction hereof.

 

10.  Benefits of this Supplemental
Indenture.  Nothing in this
Supplemental Indenture, express or implied, shall give to any Person, other
than the parties to the Supplemental Indenture and their successors hereunder
and the Holders, any benefit or any legal or equitable right, remedy or claim
under this Supplemental Indenture.

 

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

 

12.  Governing Law.  This Supplemental Indenture
shall be governed by and construed in accordance with the laws of the State of
New York without regard to its conflict of law principles (except
Sections 5-1401 and 5-1402 of the New York General Obligations Law).

 

 

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

 

 

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

 

 

	
   

  	
   

  	
  INTERNATIONAL
  LEASE FINANCE CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Frederick S. Cromer

  
	
   

  	
   

  	
  Name:

  	
  Frederick
  S. Cromer

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Financial Officer

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Brian M. Monkarsh

  	
   

  	
   

  
	
  Name:

  	
  Brian
  M. Monkarsh

  	
   

  	
   

  
	
  Title:

  	
  Senior
  Vice President, General Counsel and Secretary

  	
   

  	
   

  

 

 

	
   

  	
   

  	
  DEUTSCHE
  BANK TRUST COMPANY AMERICAS,

  
	
   

  	
   

  	
  as
  Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Kenneth R. Ring

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Kenneth R. Ring

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Irina Golovashchuk

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Irina Golovashchuk

  
	
   

  	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
	
   

  	
   

  	
   

  
	
  Attest:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Jeffrey Schoenfeld

  	
   

  	
   

  
	
  Name:

  	
  Jeffrey
  Schoenfeld

  	
   

  	
   

  
	
  Title:

  	
  Associate

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