Document:

exv4w3

 

Exhibit 4.3

EXECUTION COPY

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made and entered into as of December
13, 2006 by and among ORBITAL SCIENCES CORPORATION, a Delaware corporation (the “Company”), and
WACHOVIA CAPITAL MARKETS, LLC and BANC OF AMERICA SECURITIES LLC, as the initial purchasers (the
“Initial Purchasers”) named in the Purchase Agreement (as defined below).

     This Agreement is made in connection with the Purchase Agreement, dated December 7, 2006 (the
“Purchase Agreement”), by and among the Company, as issuer of the 2–7/16% Convertible Senior
Subordinated Notes due 2027 (the “Notes”), and the Initial Purchasers, which provides for, among
other things, the sale of the Notes by the Company to the Initial Purchasers.

     In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company
has agreed to provide to the Initial Purchasers and their respective direct and indirect
transferees the registration rights set forth in this Agreement. The execution of this Agreement
is a condition to the closing under the Purchase Agreement.

     In consideration of the foregoing, the Company agrees with the Initial Purchasers (i) for
their benefit as Initial Purchasers and (ii) for the benefit of the Holders (as defined below) from
time to time of Registrable Securities (as defined below):

     1. Definitions. Capitalized terms used herein without definition shall have the respective
meanings ascribed to them in the Purchase Agreement. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

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

          “Advice” shall have the meaning set forth in the last paragraph of Section 3 hereof.

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

          “Affiliate” has the same meaning as given to that term in Rule 405 under the Securities Act or
any successor rule thereunder.

          “Automatic Shelf Registration Statement” shall mean a registration statement filed by a
Well-Known Seasoned Issuer which shall become effective upon filing thereof pursuant to General
Instruction I.D of Form S-3.

          “Business Day” means any day other than a Saturday, a Sunday, or a day on which banking
institutions in New York, New York are authorized or required by law or executive order to remain
closed.

          “Common Stock” means the shares of common stock, $0.01 par value per share of the Company,
potentially issuable upon conversion of the Notes.

 

 

          “Company” shall have the meaning set forth in the preamble to this Agreement and also includes
the Company’s successors and permitted assigns.

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

          “Effective Date” shall mean the date the initial Shelf Registration Statement becomes
effective or, in the case of designation of an Automatic Shelf Registration Statement as the Shelf
Registration Statement, the date a Prospectus is first made available thereunder for use by the
Holders.

          “Effectiveness Deadline” shall mean (i) for purposes of Section 2(a)(i) hereof, the
180th day following the Issue Date, (ii) for purposes of the filing of any
post-effective amendment pursuant to Section 2(a)(iii) hereof, the 30th day after the
obligation to make such filing arises, (iii) for purposes of the filing of any Shelf Registration
Statement pursuant to Section 2(a)(iii) hereof, the 60th day after the obligation to
make such filing arises, and (iv) for purposes of any filing made pursuant to Section 2(a)(iv)
hereof, the 15th Business Day after the obligation to make such filing arises.

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

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

          “Filing Deadline” shall mean (i) for purposes of Section 2(a)(i) hereof, the 120th
day following the Issue Date and (ii) for purposes of Section 2(a)(iii) hereof, the 15th
Business Day after the date of receipt by the Company of the information specified therein (or, if
a Suspension Period is then in effect or initiated within 15 Business Days following the date of
receipt of such information, the 15th Business Day following the end of such Suspension
Period).

          “Holder” shall mean the Initial Purchasers, for so long as the Initial Purchasers owns any
Registrable Securities, and the Initial Purchasers respective successors, assigns and direct and
indirect transferees who become registered owners of Registrable Securities.

          “Indenture” shall mean the Indenture relating to the Securities, dated as of December 13,
2006, between the Company and the Trustee, pursuant to which the Notes are being issued, and in
accordance with which the Common Stock may be issued, as the same may be amended, supplemented,
waived or otherwise modified from time to time in accordance with the terms thereof.

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

          “Inspectors” shall have the meaning set forth in Section 3(l) hereof.

          “Issue Date” shall mean December 13, 2006, the date of original issuance of the Notes.

 

 

          “Majority Holders” shall mean the Holders collectively holding a majority of the aggregate
principal amount of outstanding Notes or the number of shares of outstanding Common Stock, as the
context requires.

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

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

          “Prospectus” shall mean the prospectus included in a Shelf Registration Statement, including
any preliminary prospectus, any “issuer free writing prospectus,” as such term is defined in Rule
433 under the 1933 Act, 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 a prospectus, including post-effective amendments, and, in each case,
including all documents incorporated by reference therein.

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

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

          “Records” shall have the meaning set forth in Section 3(l) hereof.

          “Registrable Securities” shall mean the Securities; provided, however, that the Securities
shall cease to be Registrable Securities upon the earlier of (1) a Shelf Registration Statement
with respect thereto for the resale of the Securities having been declared effective under the
Securities Act and the Securities having been disposed of pursuant to such Shelf Registration
Statement, (2) the Securities having become eligible to be sold without restriction as contemplated
by Rule 144(k) under the Securities Act by a Person who is not an Affiliate of the Company or (3)
the Securities having ceased to be outstanding.

          “Registration Expenses” shall mean any and all expenses incident to performance of or
compliance by the Company with this Agreement, including without limitation: (i) all SEC or
National Association of Securities Dealers, Inc. (the “NASD”) 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 one counsel for all underwriters or Holders as a
group in connection with blue sky qualification of any of the Registrable Securities) and
compliance by the Company with the rules of the NASD, (iii) all expenses of any Persons in
preparing or assisting in preparing, printing, duplicating, and distributing any Shelf Registration
Statement, any Prospectus and any amendments or supplements thereto, and in preparing or assisting
in preparing, printing, duplicating, and distributing any underwriting agreements, securities sales
agreements and other documents relating to the performance of and compliance with this Agreement,
(iv) all rating agency fees, (v) the fees and disbursements of counsel for the Company, of one
counsel for the Holders in connection with the Shelf Registration Statement and of the independent
certified public accountants of the Company, including the expenses of

 

 

any “cold comfort” letters required by or incident to the performance of and compliance with
this Agreement, and (vi) the reasonable fees and expenses of any special experts retained by the
Company in connection with the Shelf Registration Statement.

          “SEC” shall mean the Securities and Exchange Commission.

          “Securities” shall mean the Notes and the Common Stock.

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

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

          “Shelf Registration Statement” shall mean a “shelf” registration statement of the Company
pursuant to the provisions of Section 2(a) hereof, which covers all or any portion of the
Registrable Securities, on Form S-3 or, if not then available to the Company, on another
appropriate form under Rule 415 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, all exhibits
thereto and all documents incorporated by reference therein.

          “Suspension Period” shall have the meaning set forth in Section 2(a)(iv).

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

          “Well-Known Seasoned Issuer” shall have the meaning set forth in Rule 405 under the Securities
Act.

     2. Registration Under the Securities Act.

          (a) Shelf Registration.

               (i) The Company shall file or cause to be filed (or otherwise designate an existing Automatic
Shelf Registration Statement previously filed with the SEC as) a Shelf Registration Statement
providing for the sale by the Holders of all of the Registrable Securities, as promptly as
reasonably practicable but in any event on or prior to the Filing Deadline. If the Shelf
Registration Statement is not an Automatic Shelf Registration Statement, the Company shall use its
reasonable best efforts to have such Shelf Registration Statement declared effective by the SEC as
promptly as reasonably practicable after filing thereof, but in any event on or prior to the
Effectiveness Deadline. If the Shelf Registration Statement is an Automatic Shelf Registration
Statement, the Company shall, if necessary to allow resale of the Securities, use its best efforts
to prepare and file a supplement to the Prospectus to cover resales of the Registrable Securities
by the Holders as promptly as reasonably practicable after filing thereof, but in any event on or
prior to the Effectiveness Deadline.

               (ii) Notwithstanding any other provision hereof, no Holder of Registrable Securities shall be
entitled to include any of its Registrable Securities in any Shelf

 

 

Registration Statement pursuant
to this Agreement unless and until such Holder agrees in writing to be bound by all of the
provisions of this Agreement applicable to such Holder and the Holder furnishes to the Company a
fully completed notice and questionnaire in the form attached as Appendix A to the Offering
Memorandum (the “Questionnaire”) and such other information in writing as the Company may
reasonably request in writing for use in connection with the Shelf Registration Statement or
Prospectus included therein and in any application to be filed with or under state securities laws.
In order to be named as a selling securityholder in the Prospectus at the time it is first made
available for use, each Holder must furnish the completed Questionnaire and such other information
that the Company may reasonably request in writing, if any, to the Company prior to the Effective
Date of the initial Shelf Registration Statement. Each Holder as to which any Shelf Registration
is being effected agrees to furnish to the Company from time to time all information with respect
to such Holder necessary to make the information previously furnished to the Company by such Holder
not materially misleading.

               (iii) From and after the Effective Date of the initial Shelf Registration Statement, upon
receipt of a completed Questionnaire and such other information that the Company may reasonably
request in writing, if any, the Company will use its reasonable best efforts to file as promptly as
reasonably practicable but in any event on or prior to the Filing Deadline either (i) if then
permitted by the Securities Act or the rules and regulations thereunder (or then-current SEC
interpretations thereof), a supplement to the Prospectus or an Exchange Act report naming such
Holder as a selling securityholder and containing such other information as necessary to permit
such Holder to deliver the Prospectus to purchasers of the Holder’s Registrable Securities, or (ii)
if it is not then permitted under the Securities Act or the rules and regulations thereunder (or
then-current SEC interpretations thereof) to name such Holder as a selling securityholder in a
supplement to the Prospectus or an Exchange Act report, a post-effective amendment to the Shelf
Registration Statement or an additional Shelf Registration Statement as necessary for such Holder
to be named as a selling securityholder in the Prospectus contained therein to permit such Holder
to deliver the Prospectus to purchasers of the Holder’s Securities (subject, in the case of either
clause (i) or clause (ii), to the Company’s right to suspend use of the Shelf Registration
Statement as described in Section 2(a)(iv) hereof). If a post-effective amendment or additional
Shelf Registration Statement is required to be filed, the Company shall use its reasonable best
efforts to have such post-effective amendment or additional Shelf Registration Statement declared
effective by the SEC as promptly as reasonably practicable after filing thereof but in any event on
or prior to the applicable Effectiveness Deadline. The Company shall not be required to file more
than (A) three supplements to the Prospectus in any fiscal quarter for all such Holders or (B)
three post-effective amendments or additional Shelf Registration Statements in any 180-day period
for all such Holders.

               (iv) The Company agrees to use its reasonable best efforts to keep the Shelf Registration
Statement continuously effective and the Prospectus usable for resales until there are no
Registrable Securities outstanding (the “Effectiveness Period”); provided, however, that for 45
days or less (whether or not consecutive) in any three-month period, and for 135 days or less
(whether or not consecutive) in any 12-month period, the Company shall be permitted, by giving
written notice to the Holders of Registrable Securities, to suspend sales thereof if the Shelf
Registration Statement is no longer effective or usable for resales due to circumstances
relating to pending developments, filings with the SEC and similar events, or because the
Prospectus contains an untrue statement of a material fact or omits to state a material fact

 

 

required to be stated therein or necessary in order to make statements therein not misleading (any
period of suspension hereunder, a “Suspension Period”). If any Shelf Registration Statement ceases
to be effective or usable for resales by Holders for any reason (other than by reason of any such
Holder’s failure to provide a Questionnaire, in which case the provisions of Section 2(a)(ii) or
2(a)(iii) hereof shall apply) at any time during the Effectiveness Period, subject to the existence
of a Suspension Period as described in the proviso contained in the immediately preceding sentence,
the Company shall use its reasonable best efforts to promptly cause such Shelf Registration
Statement to become effective or usable under the Securities Act, and in any event shall, within 15
Business Days of such cessation of effectiveness or usability, (i) file with the SEC one or more
supplements to the Prospectus, post-effective amendments or reports under the Exchange Act in a
manner reasonably expected to obtain the withdrawal of any order suspending the effectiveness of
such Shelf Registration Statement, or (ii) file with the SEC an additional Shelf Registration
Statement. If a post-effective amendment or an additional Shelf Registration Statement is filed,
the Company shall use its reasonable best efforts to (A) cause such post-effective amendment or
Shelf Registration Statement to become effective under the Securities Act as promptly as reasonably
practicable after such filing, but in no event later than the applicable Effectiveness Deadline,
and (B) keep such post-effective amendment or Shelf Registration Statement continuously effective
until the end of the Effectiveness Period.

               (v) If the Shelf Registration Statement is not an Automatic Shelf Registration Statement, the
Company shall not permit any securities other than the Registrable Securities to be included in the
Prospectus. The Company will provide to each Holder named therein a reasonable number of copies of
the Prospectus, notify each such Holder of the Effective Date and take such other actions as are
required to permit unrestricted resales of the Registrable Securities by such Holder. The Company
further agrees to supplement or amend the Shelf Registration Statement or supplement the Prospectus
if and as 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 for shelf registrations, and the Company agrees to furnish to the
Holders of Registrable Securities copies of any such supplement or amendment as promptly as
reasonably practicable after its being used or filed with the SEC.

          (b) Listing. The Company shall use its reasonable best efforts to maintain the approval of
the Common Stock for listing on the New York Stock Exchange.

          (c) Expenses. The Company shall pay all Registration Expenses in connection with any Shelf
Registration Statement filed pursuant to Section 2(a) hereof (including the reasonable fees and
disbursements of counsel for the Holders of the Registrable Securities in connection with the
review of any Shelf Registration Statement, Prospectus or amendment or supplement thereto in
accordance with the provisions of Section 3(a) hereof). Except as provided herein, each Holder
shall pay all expenses of its counsel, underwriting discounts and 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) Effective Shelf Registration Statement. If, after the Effective Date, the offering of
Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop
order, injunction or other order or requirement of the SEC or any other governmental

 

 

agency or
court, such Shelf Registration Statement will be deemed not to have been effective during the
period of such interference, until the offering of Registrable Securities pursuant to such Shelf
Registration Statement may legally resume.

          (e) Additional Interest. In the event that:

               (i) a Shelf Registration Statement is not filed with the SEC or designated as such by the
Company on or prior to the Filing Deadline pursuant to Section 2(a)(i), then additional interest
(“Additional Interest”) shall accrue on the principal amount of the Securities at a rate equal to
0.25% per annum for the first 90-day period from the day following such Filing Deadline, and
thereafter at a rate per annum of 0.50% of the principal amount of the Securities;

               (ii) (y) a Shelf Registration Statement is not declared effective by the SEC, or (z) if the
Company shall have designated a previously filed and effective Automatic Shelf Registration
Statement as the Shelf Registration Statement for purposes of this Agreement, and the Company shall
not have filed, if necessary to allow resales of the Securities, a supplement to the Prospectus to
cover resales of the Registrable Securities by the Holders, in the case of (y) or (z), on or prior
to the Effectiveness Deadline pursuant to Section 2(a)(i), then Additional Interest shall accrue on
the principal amount of the Securities at a rate equal to 0.25% per annum for the first 90-day
period from the day following such Effectiveness Deadline, and thereafter at a rate per annum of
0.50% of the principal amount of the Securities;

               (iii) following the Effective Date, (A) the Company fails to make any filing required pursuant
to Section 2(a)(iii) hereof prior to the Filing Deadline applicable thereto, or (B) in the event
such filing is a post-effective amendment or additional Shelf Registration Statement, such
post-effective amendment or Shelf Registration Statement fails to become effective on or prior to
the Effectiveness Deadline applicable thereto, unless in the case of (A) or (B), pursuant to the
final sentence of Section 2(a)(iii) hereof the Company is not then obligated to file supplements to
Prospectuses, post-effective amendments or additional Shelf Registration Statements, then
Additional Interest shall accrue on the principal amount of the Securities at a rate equal to 0.25%
per annum for the first 90-day period from the day following such Filing Deadline or Effectiveness
Deadline, as applicable, and thereafter at a rate per annum of 0.50% of the principal amount of the
Securities;

               (iv) following the Effective Date, a Shelf Registration Statement ceases to be effective
(without being succeeded by an additional Shelf Registration Statement that is filed within 10
Business Days and immediately becomes effective) or usable for the offer and sale of the
Registrable Securities, other than (x) in connection with a Suspension Period or (y) as a result of
a requirement to file a post-effective amendment or supplement to the Prospectus to make changes to
the information regarding selling securityholders or the plan of distribution provided for therein,
and the Company does not cure the lapse of effectiveness or usability within 15 Business Days (or,
if a Suspension Period is then in effect, within 15 Business Days following the expiration of such
Suspension Period), then Additional Interest shall accrue on the
principal amount of the Securities at a rate equal to 0.25% per annum for the first 90-day
period from the day following such tenth Business Day, and thereafter at a rate per annum of 0.50%
of the principal amount of the Securities; provided, that if the Suspension Period or Periods
exceed

 

 

45 days in any three-month period or 135 days in any 12-month period, then, commencing with
the 46th day in such three-month period or the 136th day in such 12-month period, as the
case may be, Additional Interest shall accrue on the principal amount of the Securities at a rate
equal to 0.25% per annum for the first 90-day period from the day following the 46th or
136th day, as the case may be, and thereafter at a rate per annum of 0.50% of the
principal amount of the Securities; or

               (v) the Company fails to name as a selling securityholder any Holder that had complied timely
with its obligations hereunder in a manner to entitle such Holder to be so named in (A) any Shelf
Registration Statement, or any amendment to the Shelf Registration Statement, at the time it first
becomes effective or (B) any Prospectus at the later of time of filing thereof or the time the
Shelf Registration Statement or amendment to the Shelf Registration Statement of which the
Prospectus forms a part becomes effective, then Additional Interest will accrue on the principal
amount of Securities at a rate equal to 0.25% per annum for the first 90-day period from the day
following the effective date of such Shelf Registration Statement or the time of filing of such
Prospectus, as the case may be, and thereafter at a rate per annum of 0.50% of the principal amount
of the Securities;

provided, however, that in no event shall Additional Interest accrue at a rate per annum exceeding
0.50% of the principal amount of the Securities; and provided further that Additional Interest on
the principal amount of the Securities as a result thereof shall cease to accrue:

               (1) upon the filing or designation of a Shelf Registration Statement (in the case of clause
(i) above);

               (2) upon the Effective Date (in the case of clause (ii) above);

               (3) upon the filing of a supplement to the Prospectus, an Exchange Act report, a
post-effective amendment or an additional Shelf Registration Statement (in the case of clause
(iii)(A) above) or upon the Effective Date (in the case of clause (iii)(B) above);

               (4) upon such time as the Shelf Registration Statement which had ceased to remain effective or
usable for resales again becomes effective and usable for resales (in the case of clause (iv)
above);

               (5) upon the time such Holder is permitted to sell its Registrable Securities pursuant to any
Shelf Registration Statement and Prospectus in accordance with applicable law (in the case of
clause (v) above); or

               (6) such Securities cease to be outstanding.

     Any amounts of Additional Interest due pursuant to Section 2(e) will be payable in cash on the
next succeeding regular interest payment date for the Notes to Holders entitled to receive such
Additional Interest on the relevant record dates for the payment of interest on such Notes.

     Notwithstanding any provision in this Agreement, in no event shall Additional Interest accrue
to holders of Common Stock issued upon conversion of Notes. If any Note ceases to be

 

 

outstanding
during any period for which Additional Interest is accruing, the Company will prorate the
Additional Interest payable with respect to such Note.

          (f) Specific Enforcement. Without limiting the remedies available to the Holders, the Company
acknowledges that any failure by it to comply with its obligations under Section 2(a) hereof may
result in material irreparable injury to the Holders for which there is no adequate remedy at law,
that it would not be possible to measure damages for such injuries precisely and that, in the event
of any such failure, any Holder may obtain such relief as may be required to specifically enforce
the Company’s obligations under Section 2(a) hereof.

     3. Registration Procedures. In connection with the obligations of the Company with respect to
the Shelf Registration Statement pursuant to Section 2(a) hereof, the Company shall use its best
efforts to:

          (a) prepare and file with the SEC or designate a Shelf Registration Statement as prescribed by
Section 2(a)(i) hereof within the relevant time period specified in Section 2(a)(i) hereof on the
appropriate form under the Securities Act, which filing shall (i) be selected by the Company, (ii)
be available for the sale of the Registrable Securities by the selling Holders thereof, and (iii)
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; the Company shall use its
reasonable best efforts to cause such Shelf Registration Statement to become effective and remain
effective and the Prospectus usable for resales in accordance with Section 2 hereof; provided,
however, that, before filing any Shelf Registration Statement or Prospectus or any amendments or
supplements thereto, the Company shall furnish to and afford the Holders of the Registrable
Securities covered by such Shelf Registration Statement, their counsel and the managing
underwriters, if any, a reasonable opportunity to review copies of all such documents (excluding
copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed
to be filed; and the Company shall not file any Shelf Registration Statement or Prospectus or any
amendments or supplements thereto in respect of which the Holders must be afforded an opportunity
to review prior to the filing of such document if the Majority Holders, their counsel or the
managing underwriters, if any, shall reasonably object in a timely manner;

          (b) subject to Section 2, prepare and file with the SEC such amendments and post-effective
amendments to the Shelf Registration Statement as may be necessary to keep such Shelf Registration
Statement effective for the Effectiveness Period, and cause each Prospectus to be supplemented, if
so determined by the Company or requested by the SEC, by any required prospectus supplement and as
so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under
the Securities Act, and comply with the provisions of the Securities Act, the Exchange Act and the
rules and regulations promulgated thereunder applicable to it with respect to the disposition of
all securities covered by a Shelf Registration
Statement during the Effectiveness Period in accordance with the intended method or methods of
distribution by the selling Holders thereof described in this Agreement and the Questionnaire;

          (c) (i) furnish to each Holder of Registrable Securities included in the Shelf Registration
Statement and to each underwriter of an underwritten offering of Registrable Securities, if any,
without charge, as many copies of each Prospectus, including each preliminary

 

 

prospectus, and any
amendment or supplement thereto, and such other documents as such Holder or underwriter may
reasonably request, in order to facilitate the public sale or other disposition of the Registrable
Securities and (ii) consent to the use of the Prospectus or any amendment or supplement thereto by
each of the selling Holders of Registrable Securities included in the Shelf Registration Statement
in connection with the offering and sale of the Registrable Securities covered by the Prospectus or
any amendment or supplement thereto;

          (d) register or qualify the Registrable Securities under all applicable state securities or
“blue sky” laws of such jurisdictions by the time the applicable Shelf Registration Statement has
become effective under the Securities Act as any Holder of Registrable Securities covered by a
Shelf Registration Statement and each underwriter of an underwritten offering of Registrable
Securities shall reasonably request in writing in advance of such date of effectiveness, and do any
and all other acts and things which may be reasonably necessary or advisable to enable such Holder
and underwriter to consummate the disposition in each such jurisdiction of such Registrable
Securities owned by such Holder; provided, however, that the Company shall not be required to (i)
qualify as a foreign entity or as a dealer in securities in any jurisdiction where it would not
otherwise be required to qualify but for this Section 3(d), (ii) file any general consent to
service of process in any jurisdiction where it would not otherwise be subject to such service of
process or (iii) subject itself to taxation in any such jurisdiction if it is not then so subject;

          (e) as promptly as reasonably practicable notify each Holder of Registrable Securities, their
counsel and the managing underwriters, if any, and as promptly as reasonably practicable confirm
such notice in writing (i) when a Shelf Registration Statement has become effective and when any
post-effective amendments thereto become effective, (ii) of any request by the SEC or any state
securities authority for amendments and supplements to a Shelf Registration Statement or Prospectus
or for additional information after the Shelf Registration Statement has become effective, (iii) of
the issuance by the SEC or any state securities authority of any stop order suspending the
effectiveness of a Shelf Registration Statement or the qualification of the Registrable Securities
in any jurisdiction described in Section 3(d) hereof or the initiation of any proceedings for that
purpose, (iv) if, between the Effective Date and the closing of any sale of Registrable Securities
covered thereby, any of the representations and warranties of the Company contained in any purchase
agreement, securities sales agreement or other similar agreement relating to such sale cease to be
true and correct in all material respects, (v) of the happening of any event or the failure of any
event to occur or the discovery of any facts, during the Effectiveness Period, which makes any
statement made in a Shelf Registration Statement or the related Prospectus untrue in any material
respect or which causes such Shelf Registration Statement or Prospectus to omit to state a material
fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading, and (vi) of the reasonable determination of the Company that
a post-effective amendment to the Shelf Registration Statement would be appropriate;

          (f) obtain the withdrawal of any order suspending the effectiveness of the Shelf Registration
Statement as promptly as reasonably practicable;

          (g) furnish to each Holder of Registrable Securities included within the coverage of a Shelf
Registration Statement, without charge, at least one conformed copy of the

 

 

Shelf Registration
Statement relating to such Shelf Registration and any post-effective amendment thereto (without
documents incorporated therein by reference or exhibits thereto, unless requested);

          (h) cooperate with the selling 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 registered in such names as the selling Holders or the
underwriters may reasonably request at least two Business Days prior to the closing of any sale of
Registrable Securities pursuant to the Shelf Registration Statement;

          (i) as promptly as reasonably practicable after the occurrence of any event specified in
Section 3(e)(ii), 3(e)(iii), 3(e)(v) (subject to the respective grace periods set forth in section
2(a)(iv)) or 3(e)(vi) hereof, prepare a supplement or post-effective amendment to the 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 to the purchasers of the
Registrable Securities, such Prospectus will not include 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 each Holder
to suspend use of the Prospectus as promptly as reasonably practicable after the occurrence of such
an event;

          (j) subject to Section 5 hereof, enter into such agreements (including underwriting
agreements) as are customary in similar underwritten offerings and take all such other appropriate
actions in connection therewith as are reasonably requested by any Holder of the outstanding
Registrable Securities in order to expedite or facilitate the registration or the disposition of
the Registrable Securities;

          (k) if the registration is an underwritten registration, if requested by (x) the Initial
Purchasers, in the case where the Initial Purchasers holds Securities acquired by it as part of its
initial placement or (y) any Holder of the outstanding Registrable Securities: (i) make such
representations and warranties to Holders of such Registrable Securities and the underwriters, with
respect to the business of the Company and its subsidiaries as then conducted and with respect to
the Shelf Registration Statement, Prospectus and documents, if any, incorporated or deemed to be
incorporated by reference therein, in each case, as are customarily made by issuers to underwriters
in underwritten offerings, and confirm the same if and when requested; (ii) obtain opinions of
counsel to the Company and updates thereof (which may be in the form of a reliance letter) in form
and substance reasonably satisfactory to the managing underwriters, addressed to the underwriters
covering the matters customarily covered in opinions requested in underwritten offerings and such
other matters as may be reasonably requested by such underwriters (it being agreed that the matters
to be covered by such opinion may be subject to customary qualifications and exceptions); (iii)
obtain “comfort” letters and updates thereof in form and substance reasonably satisfactory to the
managing underwriters from the independent
certified public accountants of the Company (and, if necessary, any other independent
certified public accountants 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 of the underwriters, such letters to be in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with underwritten offerings and such

 

 

other
matters as reasonably requested by such underwriters in accordance with Statement on Auditing
Standards No. 72; and (iv) if an underwriting agreement is entered into, the same shall contain
indemnification provisions and procedures no less favorable than those set forth in Section 4
hereof (or such other provisions and procedures acceptable to Holders collectively holding a
majority in aggregate principal amount or number, as the context requires, of Registrable
Securities covered by such Shelf Registration Statement and the managing underwriters) customary
for such agreements with respect to all parties to be indemnified pursuant to said Section
(including, without limitation, such underwriters and selling Holders); the above requirements
shall be satisfied at each closing under the related underwriting agreement or as and to the extent
required thereunder;

          (l) make reasonably available for inspection by any selling Holder of Registrable Securities
who certifies to the Company that it has a current intention to sell Registrable Securities
pursuant to the Shelf Registration, any underwriter participating in any such disposition of
Registrable Securities, if any, and any attorney, accountant or other agent retained by any such
selling Holder or underwriter (collectively, the “Inspectors”), at the offices where normally kept,
during the Company’s normal business hours, all financial and other records, pertinent
organizational and operational documents and properties of the Company and its subsidiaries
(collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any
applicable due diligence responsibilities, and cause the officers, directors and employees of the
Company and its subsidiaries to supply all relevant information in each case reasonably requested
by any such Inspector in connection with such Shelf Registration Statement; records and information
which the Company believes, in good faith, to be confidential and any Records and information which
it notifies the Inspectors are confidential shall not be disclosed to any Inspector except where
(i) the disclosure of such Records or information is necessary to avoid or correct a material
misstatement or omission in such Shelf Registration Statement, (ii) the release of such Records or
information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction
or is necessary in connection with any action, suit or proceeding or (iii) such Records or
information previously has been made generally available to the public by the Company; each selling
Holder of such Registrable Securities will be required to agree in writing that Records and
information obtained by it as a result of such inspections shall be deemed confidential and shall
not be used by it as the basis for any market transactions in the securities of the Company unless
and until such is made generally available to the public through no fault of an Inspector or a
selling Holder; and each selling Holder of such Registrable Securities will be required to further
agree in writing that it will, upon learning that disclosure of such Records or information is
sought in a court of competent jurisdiction, or in connection with any action, suit or proceeding,
give notice to the Company and allow the Company at its expense to undertake appropriate action to
prevent disclosure of the Records and information deemed confidential;

          (m) comply with all applicable rules and regulations of the SEC so long as any provision of
this Agreement shall be applicable and make generally available to its
securityholders earning statements satisfying the provisions of Section 11(a) of the
Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act)
no later than 45 days after the end of any twelve-month period (or 90 days after the end of any
twelve-month period if such period is a fiscal year) (i) commencing at the end of any fiscal
quarter in which Registrable Securities are sold to underwriters in a firm commitment or best
efforts underwritten

 

 

offering and (ii) if not sold to underwriters in such an offering, commencing
on the first day of the first fiscal quarter of the Company after the Effective Date, which
statements shall cover such twelve-month periods, provided that the obligations under this Section
3(m) shall be satisfied by the timely filing of quarterly and annual reports on Forms 10-Q and 10-K
under the Exchange Act;

          (n) cooperate with each seller of Registrable Securities covered by a Shelf Registration
Statement and each underwriter, if any, participating in the disposition of such Registrable
Securities and their respective counsel in connection with any filings required to be made with the
NASD;

          (o) take all other steps reasonably practicable to effect the registration of the Registrable
Securities covered by a Shelf Registration Statement contemplated hereby; and

          (p) the Company may require each seller of Registrable Securities as to which any registration
is being effected to furnish to it such information regarding such seller as may be required by the
staff of the SEC to be included in a Shelf Registration Statement; the Company may exclude from
such registration the Registrable Securities of any seller who fails to furnish such information
within a reasonable time after receiving such request; and the Company shall have no obligation to
register under the Securities Act the Registrable Securities of a seller who so fails to furnish
such information.

     Each Holder agrees that, upon receipt of any written notice from the Company of the occurrence
of any event specified in Section 3(e)(ii), 3(e)(iii), 3(e)(v) or 3(e)(vi) hereof, such Holder will
forthwith discontinue disposition of Registrable Securities pursuant to a Shelf Registration
Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(i) hereof or until it is advised in writing (the “Advice”) by the Company
that the use of the applicable Prospectus may be resumed, and, if so directed by the Company, such
Holder will deliver to the Company (at its expense) all copies in such Holder’s possession, other
than permanent file copies then in such Holder’s possession, of the Prospectus covering such
Registrable Securities current at the time of receipt of such notice. If the Company shall give any
such notice to suspend the disposition of Registrable Securities pursuant to a Shelf Registration
Statement, the Company shall use its reasonable best efforts to file and have declared effective
(if an amendment) as promptly as reasonably practicable after the resolution of the related matters
an amendment or supplement to the Shelf Registration Statement and related Prospectus.

     4. Indemnification and Contribution. (a) The Company hereby agrees to indemnify and hold
harmless the Initial Purchasers, each Holder, each underwriter who participates in an offering of
the Registrable Securities in accordance with Section 5 hereof, each Person, if any, who controls
any of such
parties within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
Act and each of their respective directors, officers, employees and agents, as follows:

               (i) against any and all loss, liability, claim, damage and expense whatsoever, as incurred,
arising out of any untrue statement or alleged untrue statement of a material fact contained in a
Shelf Registration Statement (or any amendment thereto) or the

 

 

Prospectus (or any amendment or
supplement thereto) or the
omission or alleged omission therefrom of a material fact required to be
stated therein, in the light of the circumstances under which they were made, not misleading;

               (ii) against any and all loss, liability, claim, damage and expense whatsoever, as incurred,
to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or
proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever
based upon any such untrue statement or omission referred to in Section 4(a)(i) above, or any such
alleged untrue statement or omission, provided that (subject to Section 4(d) hereof) such
settlement is effected with the prior written consent of the Company; and

               (iii) against any and all expenses whatsoever, as incurred (including the reasonable fees and
disbursements of counsel chosen by the Initial Purchasers or such Holder), reasonably incurred in
investigating, preparing or defending against any litigation, or any investigation or proceeding by
any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any
such untrue statement or omission referred to in Section 4(a)(i) above, or any such alleged untrue
statement or omission, to the extent that any such expense is not paid under subparagraph (i) or
(ii) of this Section 4(a);

provided, however, that this indemnity does not apply to any loss, liability, claim, damage or
expense to the extent arising out of an untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with written information furnished in writing to
the Company by the Initial Purchasers or such Holder or underwriter for use in the Shelf
Registration Statement (or any amendment thereto) or any Prospectus (or any amendment or supplement
thereto).

          (b) Each Initial Purchasers and each Holder or underwriter agrees, severally and not jointly,
to indemnify and hold harmless the Company, its directors and officers (including each officer of
the Company who signed the Shelf Registration Statement), and each Person, if any, who controls the
Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act
against any and all loss, liability, claim, damage and expense whatsoever described in the
indemnity contained in Section 4(a) hereof, as incurred, but only with respect to untrue statements
or omissions, or alleged untrue statements or omissions, made in the Shelf Registration Statement
(or any amendment thereto) or the Prospectus (or any amendment or supplement thereto) in reliance
upon and in conformity with written information furnished to the Company by such Initial
Purchasers, Holder or underwriter expressly for use in such Shelf Registration Statement (or any
amendment thereto) or such Prospectus (or any amendment or supplement thereto); provided, however,
that no Initial Purchasers, Holder or underwriter shall be liable for any claims hereunder in
excess of the amount of net proceeds received by such Holder from the sale of Registrable
Securities.

          (c) Each indemnified party shall give notice as promptly as reasonably practicable to each
indemnifying party of any action commenced against it in respect of which indemnity may be sought
hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party
from any liability which it may have under this Section 4 to the extent that it is not materially
prejudiced by such failure as a result thereof, and in any event shall

 

 

not relieve it from
liability which it may have otherwise on account of this indemnity agreement. In the case of
parties indemnified pursuant to Section 4(a) or (b) above, counsel to the indemnified parties shall
be selected by such parties (subject to being reasonably acceptable to the indemnifying party). An
indemnifying party may participate at its own expense in the defense of such action; provided,
however, that counsel to the indemnifying party shall not (except with the consent of the
indemnified party, which shall not be unreasonably withheld) also be counsel to the indemnified
party. In no event shall the indemnifying parties be liable for the fees and expenses of more than
one counsel (in addition to local counsel), separate from their own counsel, for all indemnified
parties in connection with any one action or separate but similar or related actions in the same
jurisdiction arising out of the same general allegations or circumstances. No indemnifying party
shall, without the prior written consent of the indemnified parties, which shall not be
unreasonably withheld, settle or compromise or consent to the entry of any judgment with respect to
any litigation, or any investigation or proceeding by any governmental agency or body, commenced or
threatened, or any claim whatsoever in respect of which indemnification or contribution could be
sought under this Section 4 (whether or not the indemnified parties are actual or potential parties
thereto), unless such settlement, compromise or consent (i) includes an unconditional written
release of each indemnified party from all liability arising out of such litigation, investigation,
proceeding or claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any indemnified party.

          (d) If at any time an indemnified party shall have validly requested an indemnifying party to
reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees
that it shall be liable for any settlement of the nature contemplated by Section 4(a)(ii) effected
without its written consent if (i) such settlement is entered into more than 45 days after receipt
by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have
received notice of the terms of such settlement at least 30 days prior to such settlement being
entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in
accordance with such request prior to the date of such settlement.

          (e) In order to provide for just and equitable contribution in circumstances in which the
indemnity agreement set forth in this Section 4 is for any reason held to be unenforceable by an
indemnified party although applicable in accordance with its terms, the Company, on the one hand,
and the Initial Purchasers, the Holders and any underwriter, on the other hand, shall contribute to
the aggregate losses, liabilities, claims, damages and expenses of the nature contemplated by such
indemnity agreement incurred by the Company and the Holders, as incurred; provided, however, that
no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933
Act) shall be entitled to contribution from any Person that was not guilty of such fraudulent
misrepresentation. As between the Company, on the one hand, and the Initial Purchasers, the Holders
and any underwriter, on the other hand, such parties shall contribute to such aggregate losses,
liabilities, claims, damages and expenses of the nature
contemplated by such indemnity agreement in such proportion as shall be appropriate to reflect
both the relative benefit and the relative fault of the Company, on the one hand, and the Initial
Purchasers, the Holders and any underwriter, on the other hand, with respect to the statements or
omissions which resulted in such loss, liability, claim, damage or expense, or action in respect
thereof, as well as any other relevant equitable considerations. Both the relative benefit and the

 

 

relative fault of the Company, on the one hand, and of the Initial Purchasers, the Holders and any
underwriter, on the other hand, shall be determined by reference to, among other things, whether
the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company, on the one hand, or by or on
behalf of the Initial Purchasers, the Holders and any underwriter, on the other, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company, the Initial Purchasers, the Holders and any underwriters agree
that it would not be just and equitable if contribution pursuant to this Section 4 were to be
determined by pro rata allocation or by any other method of allocation that does not take into
account the relevant equitable considerations. For purposes of this Section 4, each Affiliate of a
Holder, and each director, officer and employee and Person, if any, who controls a Holder or such
Affiliate within the meaning of Section 15 of the Securities Act shall have the same rights to
contribution as such Holder, and each trustee and officer of the Company, and each Person, if any,
who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act shall have the same rights to contribution as the Company.

     5. Underwritten Registration; Participation Therein. In no event will the method of
distribution of the Registrable Securities take the form of an underwritten offering without the
prior written consent of the Company. No Holder may participate in an underwritten registration
hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis
provided in the underwriting arrangement 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 reasonably required under
the terms of such underwriting arrangements.

     6. Selection of Underwriters. The Holders of Registrable Securities covered by the Shelf
Registration Statement who desire to do so may sell the Securities covered by such Shelf
Registration in an underwritten offering, subject to the provisions of Sections 3(k) and 5 hereof.
In any such underwritten offering, the underwriter or underwriters and manager or managers that
will administer the offering will be selected by the Holders of a majority in aggregate principal
amount or number, as the context requires, of the Registrable Securities included in such offering;
provided, however, that such underwriters and managers must be reasonably satisfactory to the
Company.

     7. Miscellaneous.

          (a) Rule 144 and Rule 144A. For so long as it is subject to the reporting requirements of
Section 13 or 15 of the Exchange Act and any Registrable Securities remain outstanding, the Company
will file the reports required to be filed by it under the Securities Act and Section 13(a) or
15(d) of the Exchange Act and the rules and regulations adopted by the SEC thereunder; provided,
however, that if the Company ceases to be so required to file such reports, it will, upon the
request of any Holder (a) make publicly available such information as is necessary to permit sales
of its securities pursuant to Rule 144 under the Securities Act, (b) deliver such information to a
prospective purchaser as is necessary to permit sales of its securities pursuant to Rule 144A under
the Securities Act, and (c) take such further action that is reasonable in the circumstances, in
each case, to the extent required from time to time to enable such Holder to sell its Registrable
Securities without registration under the Securities Act within

 

 

the limitation of the exemptions
provided by (i) Rule 144 under the Securities Act, as such rule may be amended from time to time,
(ii) Rule 144A under the Securities Act, as such rule may be amended from time to time, or (iii)
any similar rules or regulations hereafter adopted by the SEC. Upon the request of any Holder of
Registrable Securities, the Company will deliver to such Holder a written statement as to whether
it has complied with such requirements.

          (b) No Inconsistent Agreements. The Company has not entered into, and will not enter into,
any agreement which conflicts with the rights granted to the Holders of Registrable Securities in
this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders
hereunder do not in any way conflict with the rights granted to the holders of the Company’s other
issued and outstanding securities under any such agreements.

          (c) Amendments and Waivers. The provisions of this Agreement, including the provisions of
this sentence, may not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given, unless the Company has obtained the written consent of
Holders of a majority in aggregate principal amount or number, as the context requires, of the
outstanding Registrable Securities affected by such amendment, modification, supplement, waiver or
departure; provided that no amendment, modification or supplement or waiver or consent to the
departure with respect to the provisions of Section 4 hereof shall be effective as against any
Holder of Registrable Securities unless consented to in writing by such Holder of Registrable
Securities. Notwithstanding the foregoing sentence, (i) this Agreement may be amended, without the
consent of any Holder of Registrable Securities, by written agreement signed by the Company and the
Initial Purchasers, to cure any ambiguity, correct or supplement any provision of this Agreement
that may be inconsistent with any other provision of this Agreement or to make any other provisions
with respect to matters or questions arising under this Agreement which shall not be inconsistent
with other provisions of this Agreement, (ii) this Agreement may be amended, modified or
supplemented, and waivers and consents to departures from the provisions hereof may be given, by
written agreement signed by the Company and the Initial Purchasers to the extent that any such
amendment, modification, supplement, waiver or consent is, in their reasonable judgment, necessary
or appropriate to comply with applicable law (including any interpretation of the Staff of the SEC)
or any change therein and (iii) to the extent any provision of this Agreement relates to the
Initial Purchasers, such provision may be amended, modified or supplemented, and waivers or
consents to
departures from such provisions may be given, by written agreement signed by the Initial
Purchasers and the Company.

          (d) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, registered first-class mail, telex, facsimile, 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
7(d), which address initially is, with respect to the Initial Purchasers, the respective addresses
set forth in the Purchase Agreement; and (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 7(d).

     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 receipt is acknowledged, if facsimiled; and on the next Business
Day, if timely delivered to an air courier guaranteeing overnight delivery.

          (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors, assigns and transferees of the Initial Purchasers, including, without limitation
and without the need for an express assignment, subsequent Holders; provided, however, 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, the indenture relating
to the Notes or the articles of incorporation or bylaws of the Company, as amended. 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 of 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.

          (f) Third Party Beneficiaries. Each Holder shall be a third party beneficiary of the
agreements made hereunder between the Company and the Initial Purchasers, and the Initial
Purchasers shall have the right to enforce such agreements directly to the extent it deems such
enforcement necessary or advisable to protect its rights or the rights of Holders hereunder.

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

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

          (i) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE.
EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE
STATE OF NEW YORK IN ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR
ANY OF THE MATTERS CONTEMPLATED HEREBY, IRREVOCABLY WAIVES ANY DEFENSE OF LACK OF PERSONAL
JURISDICTION AND IRREVOCABLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING
MAY BE HEARD AND DETERMINED IN ANY SUCH COURT. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT
AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT
IN AN INCONVENIENT FORUM.

 

 

          (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) Securities Held by the Company or its Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, Registrable
Securities held by the Company or any Affiliates shall not be counted in determining whether such
consent or approval was given by the Holders of such required percentage.

[Signature Page Follows]

 

 

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

	 	 	 	 	 
	 	Very truly yours,

ORBITAL SCIENCES CORPORATION

 	 
	 	By: 	 /s/ Michael R. Williams	 
	 	 	Name: Michael R. Williams	 
	 	 	Title: Senior Vice President and Treasurer	 

SIGNATURE PAGE TO
REGISTRATION RIGHTS AGREEMENT

 

	 	 	 	 	 

CONFIRMED AND ACCEPTED, as of the date first above written:

WACHOVIA CAPITAL MARKETS, LLC

	 	 	 	 	 
	By:
	 	 /s/ Mary Louise Guttman	 	 
	 

	 	 

Name: Mary Louise Guttman
	 	 
	 

	 	Title: Senior Vice President	 	 

BANC OF AMERICA SECURITIES LLC

	 	 	 	 	 
	By:
	 	 /s/ Craig McCracken	 	 
	 

	 	 

Name: Craig McCracken
	 	 
	 

	 	Title: Managing Director	 	 

SIGNATURE PAGE TO  THE
REGISTRATION RIGHTS AGREEMENTexv4w4

 

Exhibit 4.4

SECOND AMENDMENT

     THIS SECOND
AMENDMENT (this “Amendment”) dated as of December 7, 2006 to the Credit
Agreement referenced below is by and among Orbital Sciences Corporation, a Delaware corporation
(the “Borrower”), the Lenders identified on the signature pages hereto and Bank of America,
N.A., as administrative agent (the “Administrative Agent”).

W I T N E S S E T H

     WHEREAS, $50 million in credit facilities have been established in favor of the Borrower
pursuant to the Amended and Restated Credit Agreement dated as of December 29, 2004 among the
Borrower, the Guarantors identified therein, the Lenders identified therein and the Administrative
Agent (as amended by that certain First Amendment, dated as of June 1, 2006 and as may be further
amended, modified and supplemented from time to time, the “Credit Agreement”); and

     WHEREAS, the Borrower has requested certain modifications to the Credit Agreement and the
Required Lenders have agreed to the requested modifications on the terms and conditions set forth
herein.

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

     1.          Defined Terms. Capitalized terms used herein but not otherwise defined herein
shall have the meanings provided to such terms in the Credit Agreement.

     2.          Amendments.

     2.1        Additional Definitions. Section 1.01 of the Credit Agreement is hereby amended by
adding the following new definitions to such Section in alphabetical order:

“Convertible Note Documents” means the Convertible Notes, the indenture
governing the Convertible Notes and all other definitive documents, instruments and
agreements relating thereto, in each case as amended, modified, supplemented,
refinanced and replaced in accordance with the provisions hereof.

“Convertible Notes” means those certain convertible senior subordinated
notes due 2026 issued by the Borrower, as amended, modified, supplemented,
refinanced or replaced in accordance with the provisions hereof.

     2.2        Amendment to Definition of “Change of Control”. In Section 1.01 of the Credit
Agreement, clause (c) of the definition of “Change of Control” is hereby amended to read as
follows:

(c)     the occurrence of a “Change of Control” under, and as defined in, the Senior
Note Indenture (so long as the “Change of Control” provision remains in effect under
the Senior Note Indenture), or the occurrence of a “Fundamental Change” under, and
as defined in, any of the Convertible Note Documents.

     2.3        Amendment to Definition of “Consolidated Scheduled Funded Debt Payments”. In
Section 1.01 of the Credit Agreement, clause (c) of the definition of “Consolidated Funded Debt
Payments” is hereby amended to read as follows:

 

 

(c) shall not include (i) any voluntary prepayments or mandatory prepayments
required pursuant to Section 2.05 or (ii) amounts that may be classified as
debt as a result of the conversion rights under the Convertible Notes becoming
exercisable.

     2.4        Amendment to Increase Additional Revolving Commitments. Section 2.01(b) of the
Credit Agreement is hereby amended by deleting the amount of “TWENTY-FIVE MILLION DOLLARS
($25,000,000)” in the third line thereof and substituting in lieu thereof the amount of “FIFTY
MILLION DOLLARS ($50,000,000).”

     2.5        Amendment to Subsidiaries Covenant. Section 7.12 of the Credit Agreement is
hereby amended by amending and restating clause (c) thereof in its entirety to read as follows:

(c)     Notwithstanding anything to the contrary contained herein, if at any time any
Person that is not a Guarantor provides a Guarantee of the Senior Notes or the
Convertible Notes, then the Borrower shall cause such Person to deliver to the
Administrative Agent, concurrent with such Person providing a Guarantee of the
Senior Notes or the Convertible Notes, as applicable, (i) a Joinder Agreement
pursuant to which such Person become a Guarantor and grants a Liens in its Property
pursuant to the Collateral Documents and (ii) if requested by the Administrative
Agent or the Required Lenders, documents of the types referred to in Sections
5.01(b) and 5.01(d) and favorable opinions of counsel to such Person
(which shall cover, among other things, the legality, validity, binding effect and
enforceability of the documentation referred to in clause (i)), all in form, content
and scope reasonably satisfactory to the Administrative Agent.

     2.6        Addition of Most Favored Lender Covenant. A new Section 7.14 is added to the
Credit Agreement to read as follows:

7.14        Most Favored Lenders. 

If at any time the Borrower or any Subsidiary issues unsecured Indebtedness
permitted under Section 8.03(j)(ii) in an aggregate amount greater
than $15,000,000 and the terms of such Indebtedness contain any covenant or
event of default that is materially more restrictive than the covenants and
defaults contained in this Agreement, then (a) such covenant or event of
default shall be deemed incorporated by reference in this Agreement as if
set forth fully herein, effective as of the date when such covenant or event
of default became effective with respect to such Indebtedness, and (b) upon
the request of the Administrative Agent, the Borrower shall enter into an
amendment to this Agreement evidencing the incorporation of such covenant or
event of default provided, however that the Borrower shall
not be required to pay any fees (other than reasonable fees of counsel to
the Administrative Agent) with respect to any such amendment.

     2.7        Amendment to Indebtedness Covenant. Section 8.03 of the Credit Agreement is
hereby amended by amending and restating clause (j) thereof in its entirety to read as follows:

(j)        (i)
     Indebtedness under the Convertible Notes and renewals, refinancings and
extensions thereof to the extent permitted under Section 8.12,
provided that (A) not later than ten (10) days after the issuance of the
Convertible Notes the Borrower shall launch a tender offer for the Senior Notes, (B)
the terms of the Convertible Notes are substantially

2

 

similar to the draft of the
Description of Notes delivered to the Administrative Agent on November 30, 2006 and
(C) a portion of the cash proceeds of the Convertible Notes shall be used to, among
other things, repurchase all Senior Notes tendered by the holders thereof; and

             (ii)     any other unsecured Indebtedness (including unsecured Indebtedness
incurred in a refinancing or replacement of the Convertible Notes);
provided, however, that in the case of Indebtedness incurred
pursuant to this clause (ii), (1) such Indebtedness shall not have a scheduled
maturity earlier than six (6) months following the Maturity Date, not require any
amortization of principal or otherwise require a scheduled payment of any principal
sooner than six (6) months following the Maturity Date and (2) the Borrower shall
have delivered to the Administrative Agent a certificate of a Responsible Officer of
the Borrower demonstrating that, upon giving effect on a pro forma basis to (x) the
incurrence of such Indebtedness, (y) the application of the proceeds thereof and (z)
any other changes in Indebtedness occurring after the most recent fiscal quarter end
for which the Borrower has delivered financial statements pursuant to Section
7.01(a) or (b), the Loan Parties would be in compliance with the
financial covenants set forth in Section 8.11 as of such fiscal quarter end;

     2.8        Amendment to Burdensome Agreements Covenants. Section 8.09 of the Credit
Agreement is hereby amended by amending and restating clause (viii) thereof in its entirety to read
as follows:

(viii)     the Senior Note Documents and the Convertible Note Documents.

     2.9
        Amendment to Senior Notes Amendment and Prepayment Covenant. Section 8.12 of the
Credit Agreement is hereby amended by amending and restating Section 8.12 in its entirety to read
as follows:

8.12             Amendments and Refinancings of Senior Notes and Convertible Notes.

(a)     Amend or modify any of the terms of any of the Senior Note Documents or the
Convertible Note Documents if such amendment or modification would add or change any
terms in a manner that, taken as a whole, is materially adverse to the Borrower or
any of its Subsidiaries (including any amendment or modification that would shorten
the final maturity or average life to maturity or require any payment to be made
sooner than originally scheduled or increase the interest rate applicable thereto).

(b)     Make (or give any notice with respect thereto) any voluntary or optional
prepayment, redemption, defeasance or acquisition for value of (including without
limitation, by way of depositing money or securities with the trustee with respect
thereto before due for the purpose of paying when due), or refund, refinance or
exchange of any Senior Notes or Convertible Notes other than:

     (i)     regularly scheduled payments of principal and interest on the Senior Notes
and regularly scheduled payments of principal and interest on the Convertible Notes;

     (ii)     the repurchase of (i) up to 35% of the aggregate principal amount of the
Senior Notes with the net cash proceeds of any public offering of the Borrower’s
common stock within ninety (90) days of such public offering, to the extent
permitted

3

 

under the Senior Note Indenture and (ii) all or any portion of the
Convertible Notes with the net cash proceeds of any public offering of the
Borrower’s common stock;

     (iii)     the repurchase of any Senior Notes or Convertible Notes with cash on hand
of the Borrower and its Subsidiaries, provided that, immediately after
giving effect to such repurchase, the outstanding principal amount of Loans shall be
zero and the Borrower shall have on hand at least $10,000,000 in cash and Cash
Equivalents;

     (iv)     the consummation of a tender offer for the Senior Notes on or after the
issuance of the Convertible Notes and the subsequent redemption of any remaining
Senior Notes in accordance with their terms;

     (v)     the repurchase, refinancing or replacement of the Convertible Notes and any
Senior Notes not repurchased with the proceeds of the Convertible Notes, in each
case through the issuance of unsecured Indebtedness permitted under Section
8.03(j)(ii);

     (vi)     payments made solely in common stock of the Borrower in connection with
the exercise of any conversion rights by the holders of the Convertible Notes; and

     (vii)     the conversion into cash of the outstanding principal amount of any
Convertible Notes so long as the Borrower shall have delivered to the Administrative
Agent a certificate of a Responsible Officer of the Borrower demonstrating that,
upon giving effect to such conversion on a pro forma basis, the Loan Parties would
be in compliance with the financial covenants set forth in Section 8.11 as of the
most recent fiscal quarter end for which the Borrower has delivered financial
statements pursuant to Section 7.01(a) or (b);

(c)     Amend or modify any of the subordination provisions of the Convertible Note
Documents; or

(d)     Make any payments of principal or interest in respect of the Convertible Notes
in contravention of the subordination provisions thereof.

     2.10            Amendments to Events of Default. In Section 9.01 of the Credit Agreement, the
“.” at the end of clause (k) is replaced with “; or”, and a new clause (l) is added thereto to read
as follows:

(l)             Subordination Provisions of Convertible Notes.

                  
(i)     any of the Obligations for any reason shall fail to be “Senior Debt” (or
any comparable term) under, and as defined in, any Convertible Note Document;

                  (ii)     any Indebtedness shall constitute “Designated Senior Debt” (or any
comparable term) under, and as defined in, any Convertible Note Document, other than
(A) the Obligations and (B) any other Indebtedness with an initial principal amount
of at least $50 million; or

                  (iii)     the subordination provisions of any Convertible Note Document shall, in
whole or in part, terminate, cease to be effective or cease to be legally valid,
binding and enforceable against any holder of such Convertible Notes.

4

 

     3.          Conditions Precedent. This Amendment shall be effective as of the date hereof upon
receipt by the Administrative Agent of counterparts of this Amendment duly executed by the Borrower
and the Required Lenders.

     4.          Representations and Warranties. The Borrower represents and warrants that the
representations and warranties contained in the Loan Documents are true and correct in all material
respects on and as of the date hereof (except for those which expressly relate to an earlier date).

     5.          Reaffirmation of Security Interests. The Borrower (i) affirms that each of the
Liens granted in or pursuant to the Loan Documents are valid and subsisting and (ii) agrees that
this Amendment shall in no manner impair or otherwise adversely effect any of the Liens granted in
or pursuant to the Loan Documents.

     6.          No Other Changes. Except as expressly modified hereby, all of the terms and
provisions of the Loan Documents shall remain in full force and effect.

     7.          Counterparts. This Amendment may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed an original and it shall not be necessary
in making proof of this Amendment to produce or account for more than one such counterpart.

     8.          Governing Law. This Amendment shall be deemed to be a contract made under, and for
all purposes shall be construed in accordance with, the laws of the State of New York.

[SIGNATURE PAGES FOLLOW]

5

 

     IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Second
Amendment to be duly executed and delivered as of the date first above written.

	 	 	 	 	 	 	 
	BORROWER:	 	ORBITAL SCIENCES CORPORATION, a Delaware corporation
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Michael R. Williams	 	 
	 

	 	Name:
	 	 Michael R. Williams 

	 	 
	 

	 	Title:	 	 Senior Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	ADMINISTRATIVE AGENT:	 	BANK OF AMERICA, N.A., as Administrative Agent
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Kristine Thennes	 	 
	 

	 	Name:
	 	 Kristine Thennes 

	 	 
	 

	 	Title:	 	 Vice President	 	 
	 
	 	 	 	 	 	 
	LENDERS:	 	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Peter N. Knickerbocker	 	 
	 

	 	Name:
	 	 

 Peter N. Knickerbocker
	 	 
	 

	 	Title:
	 	 Senior Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	WACHOVIA BANK, NATIONAL ASSOCIATION
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ Robert G. McGill Jr.	 	 
	 

	 	Name:
	 	 Robert G. McGill Jr. 

	 	 
	 

	 	Title:	 	 Director	 	 
	 
	 	 	 	 	 	 
	 	 	FIRST HORIZON BANK, A DIVISION OF FIRST TENNESSEE BANK NA
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	Name:
	 	 

	 	 
	 

	 	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00114-of-00352.parquet"}]]