Document:

Exhibit 4.1

 

	
 
    	
 
    

 

FIFTH SUPPLEMENTAL INDENTURE

 

between

 

WESTPAC BANKING CORPORATION

 

and

 

THE BANK OF NEW YORK MELLON

 

as Trustee

 

Dated as of August 14, 2012

 

 

 

FIFTH SUPPLEMENTAL INDENTURE

 

FIFTH SUPPLEMENTAL INDENTURE, dated as of August 14, 2012 (the “Fifth Supplemental Indenture”), between WESTPAC BANKING CORPORATION (ABN 33 007 457 141), a company incorporated in the Commonwealth of Australia under the Corporations Act 2001 of Australia and registered in New South Wales (the “Company”), and THE BANK OF NEW YORK MELLON, a New York banking corporation, as trustee (the “Trustee”).

 

RECITALS:

 

WHEREAS, the Company and The Chase Manhattan Bank are parties to a Senior Indenture, dated as of July 1, 1999 (the “Base Indenture”), relating to the issuance from time to time by the Company of Securities in one or more series as therein provided;

 

WHEREAS, the Trustee has succeeded The Chase Manhattan Bank as trustee under the Base Indenture;

 

WHEREAS, the Company and the Trustee entered into the First Supplemental Indenture, dated as of August 27, 2009 (the “First Supplemental Indenture”), among other things, to supplement and amend certain provisions of the Base Indenture (the Base Indenture, as supplemented and amended by the First Supplemental Indenture is referred to herein as the “Amended Base Indenture” and the Amended Base Indenture as further supplemented and amended by this Fifth Supplemental Indenture, is referred to herein as the “Indenture”);

 

WHEREAS, Section 8.1(7) of the Amended Base Indenture provides that the Company may enter into a supplemental indenture to establish the forms or terms of Securities of any series as permitted by Sections 2.1 and 3.1 therein;

 

WHEREAS, in connection with the issuance of the Notes (as defined herein), the Company has duly authorized the execution and delivery of this Fifth Supplemental Indenture to establish the forms and terms of the Notes as hereinafter described;

 

WHEREAS, Section 8.1(5) of the Amended Base Indenture provides that the Company may enter into a supplemental indenture to change or eliminate any of the provisions of the Amended Base Indenture, provided that any such change or elimination shall become effective only with respect to any series of Securities which has not been issued as of the execution of such supplemental indenture or when there is no Security Outstanding of any series created prior to the execution of such supplemental indenture which is entitled to the benefit of such provision;

 

WHEREAS, Section 8.1(13) of the Amended Base Indenture provides that the Company may enter into a supplemental indenture to make any other provisions with

 

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respect to matters or questions arising under the Amended Base Indenture, provided such action shall not adversely affect the interests of the Holders of Securities of any series;

 

WHEREAS, the Company deems it advisable to enter into this Fifth Supplemental Indenture for the purpose of amending and supplementing certain provisions of the Amended Base Indenture; and

 

WHEREAS, all conditions and requirements of the Amended Base Indenture necessary to make this Fifth Supplemental Indenture a valid, binding and legal instrument in accordance with its terms have been performed and fulfilled by the parties hereto.

 

NOW, THEREFORE, for and in consideration of the premises and other good and valuable consideration, receipt of which is hereby acknowledged by the parties hereto, the parties hereto hereby agree as follows:

 

ARTICLE I
 DEFINITIONS

 

Section 1.01           General Definitions.  For purposes of this Fifth Supplemental Indenture:

 

(a)           Capitalized terms used herein without definition shall have the meanings specified in the Amended Base Indenture;

 

(b)           All references to Articles and Sections, unless otherwise specified, refer to the corresponding Articles and Sections of the Amended Base Indenture; and

 

(c)           The terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Fifth Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision.

 

ARTICLE II
 THE NOTES

 

Section 2.01           Title of Securities.  There shall be a series of Securities of the Company designated the “2.0% Notes due August 14, 2017” (the “Notes”).

 

Section 2.02           Limitation of Aggregate Principal Amount.  The aggregate principal amount of the Notes shall initially be limited to US$1,250,000,000.  The Company may from time to time, without the consent of the Holders of the Notes, create and issue additional notes having the same terms and conditions as the Notes in all respects or in all respects except for issue date, issue price and, if applicable, the first date

 

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on which interest accrues and the first payment of interest thereon (“Additional Notes”).  Additional Notes issued in this manner will be consolidated with, and will form a single series with, the Notes, unless such Additional Notes will not be treated as fungible with the Notes for U.S. federal income tax purposes. The Notes and any such Additional Notes would rank equally and ratably.

 

Section 2.03           Principal Payment Date.  The principal amount of the Notes Outstanding (together with any accrued and unpaid interest) shall be payable in a single installment on August 14, 2017, which date shall be the Stated Maturity of the Notes.

 

Section 2.04           Interest and Interest Rates.  The Notes will bear interest on the unpaid principal amount thereof at a rate of 2.0% per year from August 14, 2012, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal amount of the Notes shall have been paid or duly provided for, and interest on the Notes shall be payable semi-annually in arrears on February 14 and August 14 of each year, beginning on February 14, 2013, to the Holders of record on the preceding January 30 or July 30 (whether or not a Business Day), as the case may be.  Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months.  The amount of interest payable for any period less than a full interest period shall be computed on the basis of a 360-day year consisting of twelve 30-day months and the actual days elapsed in a partial month in such period.  Any payment of principal or interest required to be made on an Interest Payment Date that is not a Business Day shall be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after such Interest Payment Date to the date of payment on the next succeeding Business Day.  For purposes of the Notes, “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in Sydney, Australia, New York, New York, or London, United Kingdom are authorized or obligated by law or executive order to close.

 

Section 2.05           Place of Payment.  The Place of Payment where the Notes may be presented or surrendered for payment, where the Notes may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Notes and the Indenture may be served initially shall be the Corporate Trust Office of the Trustee maintained for that purpose in the Borough of Manhattan, City of New York.

 

Section 2.06           Redemption.  The Company shall not have the right to redeem the Notes other than pursuant to Section 10.8 of the Indenture.

 

Section 2.07           No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund.

 

Section 2.08           Form.  The Notes shall be issued initially as Registered Securities (as defined in the Indenture) in the form of one or more permanent notes in global form,

 

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without coupons, substantially in the form attached hereto as Exhibit A, deposited with The Bank of New York Mellon, as custodian for the Depositary, duly executed by the Company and authenticated by the Trustee as provided in the Indenture.

 

Section 2.09           Denomination.  The Notes shall be issuable only in denominations of US$2,000 and integral multiples of US$1,000 in excess thereof. The Notes shall be numbered, lettered, or otherwise distinguished in such manner or in accordance with such plans as the Officers of the Company executing the same may determine with the approval of the Trustee.

 

Section 2.10           Depositary.  The Depository Trust Company shall be the initial Depositary for the Notes, until a successor shall have been appointed and become such pursuant to the applicable provisions of the Indenture, and thereafter, “Depositary” shall mean or include such successor.

 

Section 2.11           Defeasance; Discharge.  The provisions of Sections 4.3, 4.4, 4.5 and 4.6 of the Indenture will apply to the Notes.

 

ARTICLE III

AMENDMENTS TO AMENDED BASE INDENTURE

 

Section 3.01           Amendment to Preamble.  The Preamble of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“SENIOR INDENTURE, dated as of July 1, 1999, between WESTPAC BANKING CORPORATION, a bank duly organized and existing under the laws of the Commonwealth of Australia (the “Company”) having its principal office at Level 20, 275 Kent Street, Sydney, New South Wales 2000, Australia, and The Bank of New York Mellon, a New York banking corporation, as Trustee hereunder (the “Trustee”).”

 

Section 3.02           Amendment to Section 1.1(a).  Section 1.1(a) of the Amended Base Indenture is hereby amended as follows:

 

(a)           The following definitions are hereby inserted, with respect to all series of Securities issued on or after the date hereof, immediately following the definition of “Agent”:

 

“‘Australian Corporations Act’ means the Corporations Act 2001 of Australia, as amended, or any successor act.”

 

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“‘Australian Tax Act’ means the Income Tax Assessment Act 1936 of Australia, as amended, or any successor act.”

 

(b)           The definition of “Authorized Officer” is hereby amended and restated, with respect to all series of Securities, to read in its entirety as follows:

 

“‘Authorized Officer’ means the Company’s Chairman of the Board, its Managing Director, its Chief Financial Officer, its Deputy Chief Financial Officer, any Group Executive, any General Manager, its Group Treasurer, its Deputy Group Treasurer, its Head of Global Funding, any Executive Director, Group Treasury, any Director, Group Treasury, any Senior Manager, Group Treasury, its Group Financial Controller, any Senior Vice President or any Vice President or such officers of equivalent status as may be designated from time to time by the Company.”

 

(c)           The following definition is hereby inserted, with respect to all series of Securities issued on or after the date hereof, immediately following the definition of “Dollar”:

 

“‘FATCA’ means sections 1471 to 1474 of the U.S. Internal Revenue Code of 1986, as amended (including any regulations or official interpretations issued, agreements entered into or non-U.S. laws enacted, with respect thereto).”

 

(d)           The following definition is hereby inserted, with respect to all series of Securities issued on or after the date hereof, immediately following the definition of “Officers’ Certificate”:

 

“‘Offshore Associate’ means an associate (within the meaning of Section 128F of the Australian Tax Act) of the Company that is either a non-Australian resident that does not acquire the Securities in carrying on a business at or through a permanent establishment in the Commonwealth of Australia, or an Australian resident that acquires the Securities in carrying on a business at or through a permanent establishment outside the Commonwealth of Australia.”

 

(e)           The definition of “Paying Agent” is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“‘Paying Agent’ means any Person authorized by the Company to pay the principal of, premium, if any, or interest and any other payments on any Securities on

 

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behalf of the Company.”

 

(f)            The definition of “Winding Up” is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“‘Winding Up’ means any procedure whereby the Company may be wound up, dissolved or cease to exist as a body corporate and whether brought or instigated by the Trustee, a Holder or any other Person, but, in any case, other than under or in connection with a scheme of amalgamation or reconstruction not involving a bankruptcy or insolvency where the Company’s obligations in relation to the Outstanding Securities are assumed by the successor entity to which all, or substantially all, of the Company’s property, assets and undertakings are transferred or where an arrangement with similar effect not involving a bankruptcy or insolvency is implemented.”

 

Section 3.03           Amendment to Section 1.1(b).  Section 1.1(b) of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, as follows:

 

“(b) The following terms shall have the meanings specified in the Sections referred to opposite such term below:

 

	
Term
    	
 
    	
Section
    
	
‘Act’
    	
 
    	
1.4 (a)
    
	
‘Additional Amounts’
    	
 
    	
9.8 (a)
    
	
‘Authorized Agent’
    	
 
    	
1.14
    
	
‘Claims’
    	
 
    	
6.8(b)
    
	
‘Component Currency’
    	
 
    	
3.11(h)
    
	
‘Conversion Date’
    	
 
    	
3.11(d)
    
	
‘Conversion Event’
    	
 
    	
3.11(h)
    
	
‘Defaulted Interest’
    	
 
    	
3.7(b)
    
	
‘Election Date’
    	
 
    	
3.11(h)
    
	
‘Euro’
    	
 
    	
3.11(h)
    
	
‘Event of Default’
    	
 
    	
5.1
    
	
‘Exchange Rate Agent’
    	
 
    	
3.11(h)
    
	
‘Exchange Rate Officers’ Certificate’
    	
 
    	
3.11(h)
    
	
‘Expiration Date’
    	
 
    	
1.4(g)
    
	
‘Foreign Currency’
    	
 
    	
3.11(h)
    
	
‘Judgment Currency’
    	
 
    	
9.10
    
	
‘Market Exchange Rate’
    	
 
    	
3.11(h)
    

 

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‘Register’
    	
 
    	
3.5
    
	
‘Registrar’
    	
 
    	
3.5
    
	
‘relevant tax’
    	
 
    	
9.8(a)
    
	
‘Specified Amount’
    	
 
    	
3.11(h)
    
	
‘Specified Currency’
    	
 
    	
9.10
    
	
‘Valuation Date’
    	
 
    	
3.11(c)”
    

 

Section 3.04           Amendment to Section 1.5(2).  Section 1.5(2) of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities, to read in its entirety as follows:

 

“(2) the Company by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class postage prepaid, to the Company addressed to it at Westpac Banking Corporation, Level 2, 275 Kent Street, Sydney, New South Wales 2000, Australia, Attention: Global Funding, or at any other address previously furnished in writing to the Trustee by the Company.”

 

Section 3.05           Amendment to Section 1.11.  Section 1.11 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Governing Law.

 

(a)           This Indenture, the Securities and any coupons appertaining thereto shall be governed by, and construed in accordance with, the laws of the State of New York without regard to conflict of law principles, except as required by mandatory provisions of law.  This Indenture is subject to the Trust Indenture Act and if any provision hereof limits, qualifies or conflicts with a provision of the Trust Indenture Act that is required by the Trust Indenture Act to be a part of and govern this Indenture, the latter provision shall control.  If any provision of this Indenture modifies or excludes any provision of the Trust Indenture Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Indenture as so modified, or to be excluded, as the case may be, whether or not such provision of this Indenture refers expressly to such provision of the Trust Indenture Act.

 

(b)           ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST THE COMPANY, THE TRUSTEE, THE REGISTRAR, THE PAYING AGENT OR ANY OTHER AGENT, ARISING OUT OF OR RELATING TO THIS INDENTURE, ANY

 

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SECURITY OR ANY COUPON APPERTAINING THERETO MAY BE BROUGHT IN A UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE CITY OF NEW YORK, THE BOROUGH OF MANHATTAN, AND BY EXECUTION AND DELIVERY OF THIS INDENTURE, EACH OF THE COMPANY, THE TRUSTEE, THE REGISTRAR,  THE PAYING AGENT AND ANY OTHER AGENT, (IN SUCH CAPACITIES) ACCEPT, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS.

 

(c)           The Company hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such suit, action or proceeding and any objection to such suit, action or proceeding whether on the grounds of venue, residence or domicile.

 

(d)           A final judgment (that is a judgment obtained after exhaustion of all appeals and expiration of all time to appeal) in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.”

 

Section 3.06           Amendment to Section 1.14.  Section 1.14 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Consent to Service.  The Company has designated and appointed Westpac Banking Corporation, New York branch, 575 Fifth Avenue, 39th Floor, New York, New York 10017-2422, Attention:  Branch Manager, as its authorized agent for service of process in any proceeding arising out of or relating to this Indenture, the Securities of any series or any coupon appertaining thereto brought in any federal or state court sitting in the Borough of Manhattan in The City of New York. By the execution and delivery of this Indenture, the Company irrevocably submits to the nonexclusive jurisdiction of any such court in any such suit or proceeding, and agrees that service of process upon said agent, together with written notice of said service to the Company, shall be deemed in every respect effective service of process upon the Company, in any such suit or proceeding; provided, that a Security may specify additional jurisdictions as to which the Company may consent to the nonexclusive jurisdiction of its courts with respect to such Security. The Company further agrees to take any and all action, including the execution and filing of any and all such documents and instruments, as may be necessary to continue such designation and appointment of said agent or a successor agent in full force and effect so long as any of the Securities shall be Outstanding.”

 

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Section 3.07           Insertion of Section 1.15.  The Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to insert the following Section 1.15 after Section 1.14:

 

“Waiver of Jury Trial.  EACH OF THE PARTIES TO THIS INDENTURE HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS INDENTURE, THE SECURITIES OR ANY DEALINGS AMONG THEM RELATING TO THE SUBJECT MATTER OF THIS TRANSACTION.  The scope of this waiver is intended to encompass any and all disputes that may be filed in any court and that relate to the subject matter of this transaction including without limitation contract claims, tort claims, breach of duty claims, and all other common law and statutory claims.  Each party hereto acknowledges that this waiver is a material inducement to enter into a business relationship, that such party has already relied on the waiver in entering into this Indenture, and that such party will continue to rely on the waiver in its related future dealings.  Each party hereto further warrants and represents that it has reviewed this waiver with its legal counsel, and that it knowingly and voluntarily waives its jury trial rights following consultation with legal counsel.  THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THE WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS INDENTURE OR ANY OTHER DOCUMENTS OR AGREEMENTS RELATING TO THIS INDENTURE.  In the event of litigation, this Indenture may be filed as a written consent to a trial by the court.”

 

Section 3.08           Insertion of Section 1.16.  The Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to insert the following Section 1.16 after Section 1.15:

 

“Counterparts.  This Indenture and any amendments, waivers, consents or supplements hereto or thereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, and each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. This Indenture shall become effective upon the execution of a counterpart hereof by each of the parties hereto.  The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes.  Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.”

 

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Section 3.09           Amendment to Section 2.2.  Section 2.2 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Form of Trustee’s Certificate of Authentication.  Subject to Section 6.13, the Trustee’s certificate of authentication shall be in substantially the following form:

 

This is one of the Securities of the series designated herein and issued under the within-mentioned Indenture.

 

	
 
    	
 
    	
The Bank of New York Mellon, as Trustee
    
	
 
    	
 
    	
 
    
	
Dated:
    	
 
    	
 
    	
By
    	
 
    
	
 
    	
 
    	
 
    	
Authorized Signatory”
    
					

 

Section 3.10           Amendment to Section 3.11(h).  The definition of “Euro” in Section 3.11(h) of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“‘Euro’ means the lawful currency of the member states of the European Union that have adopted or adopt the single currency in accordance with the Treaty establishing the European Community, as amended.”

 

Section 3.11           Amendment to Section 4.5.  Section 4.5 of the Amended Base Indenture is hereby amended, with respect to all series of Securities issued on or after the date hereof, by deleting “5.1(6)” in the last sentence thereof and in lieu thereof inserting “5.1(7)”.

 

Section 3.12           Amendment to Section 4.6.  Section 4.6(c) of the Amended Base Indenture is hereby amended, with respect to all series of Securities issued on or after the date hereof, by deleting “Section 5.1(4) or 5.1(5)” and in lieu thereof inserting “Section 5.1(4), 5.1(5) or 5.1(6)”.

 

Section 3.13           Amendment to Section 5.1.  Section 5.1 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

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“Events of Default.  An ‘Event of Default’ occurs with respect to the Securities of any series if (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

 

(1)           the Company fails to pay interest on any Security of that series or any coupon appertaining thereto or any Additional Amount payable with respect to any Security of that series when the same becomes due and payable and such failure continues for a period of 30 days;

 

(2)           the Company fails to pay the principal of, or any premium on, any Security of that series when the same becomes due and payable at its Maturity and such failure continues for a period of 15 days;

 

(3)           the Company fails to perform any material covenant or warranty in this Indenture (other than those listed in Section 5.1(1), (2) and, if applicable, (7) hereof or any other covenant which has expressly been included in this Indenture solely for the benefit of any series of Securities other than that series) with respect to that series of Securities for a period of 60 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 33 1/3% in principal amount of the Outstanding Securities of that series, a written notice specifying such failure and requiring it to be remedied and stating that such notice is a “Notice of Event of Default” hereunder;

 

(4)           the Company (A) commences a voluntary case or proceeding under any applicable law involving any Winding Up of the Company, or (B) consents to the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable law involving a Winding Up of the Company or to the commencement of any such case or proceeding against it or (C) files a petition or answer or consent seeking such relief under any applicable law, or consents to the filing of such petition; provided in any such case that such event will necessarily result in a Winding Up of the Company;

 

(5)           a court of competent jurisdiction enters a decree or order, which is not successfully appealed within 60 days, (A) for relief in respect of the Company in an involuntary case or proceeding involving a Winding Up of the Company or (B) relating to a Winding Up of the Company where such decree or order will necessarily result in a Winding Up of the Company;

 

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(6)           a court of competent jurisdiction enters a decree or order appointing a custodian, receiver, liquidator, statutory manager, controller, assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, and such decree, proceeding or order shall not be removed, paid out or otherwise discharged within a period of 60 consecutive days unless the same is being contested in good faith, or the Company consents to such an appointment or makes a general assignment for the benefit of its creditors; and

 

(7)           any other Event of Default provided as contemplated by Section 3.1 with respect to Securities of that series.”

 

Section 3.14           Amendment to Section 5.2.  The first paragraph of Section 5.2 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Acceleration; Rescission and Annulment.  If an Event of Default with respect to Securities of any series at the time Outstanding occurs and is continuing, then, in every such case the Trustee or the Holders of not less than 33 1/3% in principal amount of the Outstanding Securities of that series may declare the principal amount (or, if any of the Securities of that series are Original Issue Discount Securities, such portion of the principal amount of such Securities as may be specified in the terms thereof) of all of the Securities of that series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by the Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable.”

 

Section 3.15           Amendment to Section 5.3.  Clauses (1) and (2) of the first paragraph of Section 5.3 of the Amended Base Indenture are hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in their entirety as follows:

 

“(1) there is a failure to pay any interest on any Security or coupon, if any, when such interest becomes due and payable and such failure continues for a period of 30 days, or

 

(2) there is a failure to pay the principal of (or premium, if any, on) any Security at the Maturity thereof and such failure continues for a period of 15 days,”.

 

Section 3.16           Amendment to Section 5.15.   Section 5.15 of the Amended Base

 

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Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Waiver of Sovereign Immunity.  To the extent that the Company or any properties, assets or revenues of the Company may have or may hereafter become entitled to, or have attributed to it, any right of immunity, on the grounds of sovereignty, from any legal action, suit or proceeding, from the giving of any relief in any thereof, from setoff or counterclaim, from the jurisdiction of any court, from service of process, from attachment upon or prior to judgment, from attachment in aid of execution or judgment, or from execution of judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of any judgment, in any jurisdiction in which proceedings may at any time be commenced, with respect to its obligations, liabilities or any other matter under or arising out of or in connection with any Security of any series or this Indenture, the Company, to the extent permitted by applicable law, hereby irrevocably and unconditionally waives, and agrees not to plead or claim, any such immunity and consent to such relief and enforcement.”

 

Section 3.17           Amendment to Section 6.13.  The final paragraph of Section 6.13 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“This is one of the Securities of the series designated herein and issued under the within-mentioned Indenture.

 

	
 
    	
The Bank of New York Mellon, as Trustee
    
	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
as Authenticating Agent
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
 
    
	
 
    	
 
    	
Authorized Signatory”
    

 

Section 3.18           Amendment to Section 8.1.  Section 8.1 of the Amended Base Indenture is hereby amended, with respect to all series of Securities issued on or after the date hereof, by deleting the last sentence thereof.

 

Section 3.19           Amendment to Section 8.2.  Section 8.2 of the Amended Base Indenture is hereby amended, with respect to all series of Securities issued on or after the date hereof, by deleting the first sentence of the penultimate paragraph thereof.

 

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Section 3.20           Amendment to Section 9.8.  Section 9.8 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Withholding Tax and Payment of Additional Amounts.  (a)      Unless otherwise specified as contemplated by Section 3.1, the Company will pay all amounts that it is required to pay on the Securities without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or other governmental charges (“relevant tax”) imposed or levied by or on behalf of the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, unless such withholding or deduction is required by law.  If the Company withholds or deducts any such amount from any payment on a Security, the Company will pay such additional amounts (the “Additional Amounts”) so that the net amounts received by a Holder of such Security, after such withholding or deduction, will equal the amounts that such Holder would have received on such Security if such withholding or deduction had not been required; provided that no Additional Amounts shall be payable for or on account of:

 

(1)                   any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder or beneficial owner of such Security was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment or was physically present in, the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein or otherwise had some connection with the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein other than merely holding such Security or receiving payments under such Security;

 

(2)           any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder of such Security presented such Security for payment in the Commonwealth of Australia, unless the Holder was required to present such Security for payment and it could not have been presented for payment anywhere else;

 

(3)           any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder of such Security presented such Security for payment more than thirty (30) days after the date such payment became due and was provided for, whichever is later, except to the extent that the Holder would have been entitled to the Additional Amounts on presenting such Security for payment on any day during that thirty (30) day period;

 

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(4)           any estate, inheritance, gift, sale, transfer, personal property or similar tax, duty, assessment or other governmental charge;

 

(5)           any tax, duty, assessment or other governmental charge which is payable otherwise than by withholding or deduction;

 

(6)           any tax, duty, assessment or other governmental charge that would not have been imposed if the Holder or beneficial owner of such Security complied with the Company’s request to provide information concerning his, her or its nationality, residence or identity or to make a declaration, claim or filing or satisfy any requirement for information or reporting that is required to establish the eligibility of the Holder or beneficial owner of such Security to receive the relevant payment without (or at a reduced rate of) withholding or deduction for or on account of any such tax, duty, assessment or other governmental charge;

 

(7)           any tax, duty, assessment or other governmental charge that would not have been imposed but for the Holder or beneficial owner of such Security being the Company’s Offshore Associate (other than in the capacity of a clearing house, paying agent, custodian, funds manager or responsible entity of a registered managed investment scheme under the Australian Corporations Act);

 

(8)           any tax, duty, assessment or other governmental charge that is imposed or withheld as a consequence of a determination having been made under Part IVA of the Australian Tax Act (or any modification thereof or provision substituted therefore) by the Australian Commissioner of Taxation that such tax, duty, assessment or other governmental charge is payable in circumstances where the Holder or beneficial owner of such Security is a party to or participated in a scheme to avoid such tax which the Company was not a party to;

 

(9)           any tax, duty, assessment or other governmental charge that is imposed pursuant to European Council Directive 2003/48/EC (the “Directive”) or any law implementing or complying with, or introduced in order to conform to, such Directive, or any agreement entered into by a Member State of the European Union with (A) any other state or (B) any relevant, dependent or associated territory of any Member State of the European Union providing for measures equivalent to, or the same as, those provided for by such Directive;

 

(10)         any tax, duty, assessment or other governmental charge arising under or in connection with FATCA; or

 

16

 

(11)         any combination of the foregoing.

 

(b)           Subject to the foregoing, Additional Amounts will also not be payable by the Company with respect to any payment on any Security to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment to the extent that such payment would, under the laws of the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, be treated as being derived or received for tax purposes by a beneficiary or settler of that fiduciary or a member of that partnership or a beneficial owner, in each case, who would not have been entitled to those Additional Amounts had it been the actual Holder of such Security.

 

(c)           The Company, and any other Person to or through which any payment with respect to the Securities may be made, shall be entitled to withhold or deduct from any payment with respect to such Securities amounts required to be withheld or deducted under or in connection with FATCA, and Holders and beneficial owners of such Securities shall not be entitled to receive any gross up or other additional amounts on account of any such withholding or deduction.

 

(d)           All references in this Indenture to the payment of the principal of, or any premium or interest on, any Security shall be deemed to include the payment of Additional Amounts to the extent that, in that context, Additional Amounts are, were or would be payable under this Section 9.8.”

 

Section 3.21           Amendment to Section 10.1.  Section 10.1 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Applicability of Article.  Securities (including coupons, if any) of or within any series that are redeemable in whole or in part before their Stated Maturity shall be redeemable in accordance with their terms and (except as otherwise specified as contemplated by Section 3.1 for Securities of any series) in accordance with this Article.”

 

Section 3.22           Amendment to Section 10.8.  Section 10.8 of the Amended Base Indenture is hereby amended and restated, with respect to all series of Securities issued on or after the date hereof, to read in its entirety as follows:

 

“Redemption for Taxation.  The Company may, at its option, redeem all, but not less than all, of the Securities of a series if:

 

17

 

(a)           there is a change in or any amendment to the laws or regulations:

 

(i)                                     of the Commonwealth of Australia, or any political subdivision or taxing authority thereof or therein, or

 

(ii)                                  in the event of the assumption pursuant to Section 7.1 hereof of the obligations of the Company hereunder by an entity organized under the laws of a country other than the Commonwealth of Australia or a political subdivision of a country other than the Commonwealth of Australia, of the Commonwealth of Australia or the country in which such entity is organized or resident or deemed resident for tax purposes or any political subdivision or taxing authority thereof or therein, or

 

(b)                                 there is a change in any application or interpretation of any such laws or regulations,

 

which change or amendment becomes effective,

 

(x)                                 with respect to taxes imposed by the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, on or after the date the Company originally issued the Securities to be redeemed, or

 

(y)                                 in the event of the assumption pursuant to Section 7.1 hereof of the obligations of the Company hereunder by an entity organized under the laws of a country other than the Commonwealth of Australia or a political subdivision of a country other than the Commonwealth of Australia, with respect to taxes imposed by a non-Australian jurisdiction, on or after the date of the transaction resulting in such assumption,

 

and, in each case, as a result of such change or amendment (1) the Company is or will become obligated to pay any Additional Amounts on such Securities pursuant to Section 9.8 hereof (provided that the Company provides to the Trustee an opinion of independent legal advisors of recognized standing to the effect that the Company is or will become obligated to pay such Additional Amounts on such Securities as a result of such change or amendment) or (2) the Company would not be entitled to claim a deduction in computing its taxation liabilities in respect of (A) any payments of interest or Additional Amounts or (B) any original issue discount on such Securities.

 

18

 

Before the Company may redeem any Securities pursuant to this Section 10.8, it must give the Holders of those Securities at least thirty (30) days’ written notice and not more than sixty (60) days’ written notice of its intention to redeem those Securities, provided that if the earliest date on which (i) the Company will be obligated to pay any Additional Amounts, or (ii) the Company would not be entitled to claim a deduction in respect of any payments of interest or Additional Amounts on or any original issue discount in respect of Securities in computing its taxation liabilities, would occur less than forty-five (45) days after the relevant change or amendment to the applicable laws, regulations, determinations or guidelines, the Company may give less than thirty (30) days’ written notice but in no case less than fifteen (15) days’ written notice, provided it gives such notice as soon as practicable in all the circumstances.

 

The Redemption Price for Securities to be redeemed shall equal 100% of the principal amount of the Securities to be redeemed plus accrued but unpaid interest to but excluding the date of redemption.  However, if any Securities that will be redeemed are outstanding Original Issue Discount Securities, such Securities shall be redeemed at the Redemption Price calculated in accordance with the terms thereof.

 

If, however, within sixty (60) days of the event causing the Company to become liable to pay Additional Amounts on any Securities, the Company can avoid its obligation to pay Additional Amounts on such Securities by filing a form, making an election or taking some similar reasonable measure, that in the Company’s sole judgment will not be adverse to the Company and will involve no material cost to the Company, it will pursue that measure instead of redeeming such Securities.”

 

ARTICLE IV
 MISCELLANEOUS

 

Section 4.01          Integral Part; Effect of Supplement on Indenture.  This Fifth Supplemental Indenture constitutes an integral part of the Indenture. Except for the amendments and supplements made by this Fifth Supplemental Indenture, the Amended Base Indenture shall remain in full force and effect as executed.

 

Section 4.02          Adoption, Ratification and Confirmation.  The Indenture, as supplemented by this Fifth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed.

 

Section 4.03          Trustee Not Responsible for Recitals.  The recitals in this Fifth Supplemental Indenture shall be taken as statements of the Company, and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to the validity or adequacy of this Fifth Supplemental Indenture.

 

19

 

Section 4.04          Counterparts.  This Fifth Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original but such counterparts shall together constitute but one instrument.

 

Section 4.05          Separability.  In case any provision of this Fifth 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.

 

Section 4.06          Governing Law.  This Fifth Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York, including all matters of construction, validity and performance.

 

[signature page follows]

 

20

 

IN WITNESS WHEREOF, the Company and the Trustee have executed this Fifth Supplemental Indenture as of the date first above written.

 

	
 
    	
 
    	
WESTPAC BANKING CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Sean Crellin
    
	
 
    	
 
    	
 
    	
Name:
    	
Sean Crellin
    
	
 
    	
 
    	
 
    	
Title:
    	
Director, Legal
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
THE BANK OF NEW YORK MELLON, as Trustee
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Teisha Wright
    
	
 
    	
 
    	
 
    	
Name:
    	
Teisha Wright
    
	
 
    	
 
    	
 
    	
Title:
    	
Vice   President
    
						

 

21

 

EXHIBIT A

 

(FORM OF FACE OF NOTE)

 

[THIS SECURITY IS IN GLOBAL FORM WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS SECURITY WILL BE IN GLOBAL FORM, SUBJECT TO THE FOREGOING.

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.](1)

 

 

	
No. [·]
    	
CUSIP No. 961214BV4
    
	
 
    	
ISIN No. US961214BV49
    

 

WESTPAC BANKING CORPORATION

 

2.0% NOTE DUE AUGUST 14, 2017

 

WESTPAC BANKING CORPORATION, a company incorporated in the Commonwealth of Australia under the Corporations Act 2001 of Australia and registered in New South Wales (the “Company”, which term includes any successor corporation

 

(1)  Insert in Global Notes only

 

 

under the Indenture hereinafter referred to), for value received, hereby promises to pay to [·] or registered assigns, the principal sum of [·] (US$·) on August 14, 2017 (the “Stated Maturity”).  This Note will bear interest on the unpaid principal amount hereof at a rate of 2.0% per year from August 14, 2012, or from the most recent Interest Payment Date to which interest has been paid or duly provided for, until the principal amount hereof shall have been paid or duly provided for, and interest on the Notes shall be payable semi-annually in arrears on February 14 and August 14 of each year (each such date, an “Interest Payment Date”), beginning on February 14, 2013.  Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months.  The amount of interest payable for any period less than a full interest period shall be computed on the basis of a 360-day year consisting of twelve 30-day months and the actual days elapsed in a partial month in such period.  Any payment of principal or interest required to be made on an Interest Payment Date that is not a Business Day shall be made on the next succeeding Business Day, and no interest will accrue on that payment for the period from and after such Interest Payment Date to the date of payment on the next succeeding Business Day.  For purposes hereof, “Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking institutions in Sydney, Australia, New York, New York, or London, United Kingdom are authorized or obligated by law or executive order to close.

 

Interest on this Note which is payable, and is punctually paid or duly provided for, on any Interest Payment Date shall be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which in the case of the Notes shall be the close of business on the January 30 or July 30 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date, at the office or agency maintained for such purpose pursuant to the Indenture; provided, however, that at the option of the Company, interest on this Note may be paid (i) by check mailed to the address of the Person entitled thereto as it shall appear on the Register or (ii) to a Holder of US$1,000,000 or more in aggregate principal amount of the Notes by wire transfer to an account maintained by the Person entitled thereto as specified in the Register.  Any interest on this Note which is payable, but is not punctually paid or duly provided for, on any Interest Payment Date (herein called “Defaulted Interest”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Interest shall instead be payable to the Person in whose name this Note is registered on the Special Record Date or other specified date in accordance with the Indenture.

 

This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or be valid or become obligatory for any purpose until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee.

 

A-2

 

The provisions of this Note are continued on the reverse side hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place.

 

IN WITNESS WHEREOF, the Company has caused this instrument to be executed on this        day of                               , 20      .

 

 

	
 
    	
 
    	
WESTPAC BANKING CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
 
    	
Title:
    

 

 

CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated herein and issued under the within-mentioned Indenture.

 

 

	
 
    	
 
    	
The Bank of New York Mellon, as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Dated:
    	
 
    	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Authorized Signatory
    

 

A-3

 

(FORM OF REVERSE OF NOTE)

 

This Note is one of a duly authorized series of securities of the Company, issued and to be issued in one or more series under and pursuant to a Senior Indenture, dated as of July 1, 1999 (the “Base Indenture”), duly executed and delivered between the Company and The Bank of New York Mellon, as successor to The Chase Manhattan Bank, as trustee (the “Trustee”, which term includes any successor trustee under the Indenture), as supplemented and amended by the First Supplemental Indenture, dated as of August 27, 2009, between the Company and the Trustee (the “First Supplemental Indenture” and, together with the Base Indenture, the “Amended Base Indenture”), and as further supplemented and amended by the Fifth Supplemental Indenture, dated as of August 14, 2012, between the Company and the Trustee (the “Fifth Supplemental Indenture”; the Amended Base Indenture, as further supplemented and amended by the Fifth Supplemental Indenture, the “Indenture”), to which Indenture and all Indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes.  This Note is one of a series of securities designated on the face hereof (the “Notes”).  The Notes are issued pursuant to the Indenture and are limited in aggregate principal amount to US$1,250,000,000; provided, however, that the Company may from time to time, without the consent of the Holders of the Notes, create and issue additional notes having the same terms and conditions as the Notes in all respects or in all respects except for issue date, issue price and, if applicable, the first date on which interest accrues and the first payment of interest thereon.  Additional notes issued in this manner will be consolidated with, and will form a single series with, the Notes, unless such additional notes will not be treated as fungible with the Notes for U.S. federal income tax purposes. The Notes and any such additional notes would rank equally and ratably.

 

In accordance with Section 10.8 of the Indenture, pursuant to the procedure set forth in Article X of the Indenture, the Company may, at its option, redeem all, but not less than all, of the Notes if (a) there is a change in or any amendment to the laws or regulations (i) of the Commonwealth of Australia, or any political subdivision or taxing authority thereof or therein, or (ii) in the event of the assumption pursuant to Section 7.1 of the Indenture of the obligations of the Company under the Indenture and this Note by an entity organized under the laws of a country other than the Commonwealth of Australia or a political subdivision of a country other than the Commonwealth of Australia, of the Commonwealth of Australia or the country in which such entity is organized or resident or deemed resident for tax purposes or any political subdivision or taxing authority thereof or therein, or (b) there is a change in any application or interpretation of any such laws or regulations, which change or amendment becomes effective, (i) with respect to taxes imposed by the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, on or after the date the Company originally issued this Note, or (ii) in the event of the assumption pursuant to

 

A-4

 

Section 7.1 of the Indenture of the obligations of the Company under the Indenture and this Note by an entity organized under the laws of a country other than the Commonwealth of Australia or a political subdivision of a country other than the Commonwealth of Australia, with respect to taxes imposed by a non-Australian jurisdiction, on or after the date of the transaction resulting in such assumption, and, in each case, as a result of such change or amendment (1) the Company is or will become obligated to pay any Additional Amounts on this Note pursuant to Section 9.8 of the Indenture or (2) the Company would not be entitled to claim a deduction in computing its taxation liabilities in respect of (A) any payments of interest or Additional Amounts or (B) any original issue discount on this Note.

 

Before the Company may redeem this Note, it must give the Holder of this Note at least 30 days’ written notice and not more than 60 days’ written notice of its intention to redeem this Note, provided that if the earliest date on which (i) the Company will be obligated to pay any Additional Amounts, or (ii) the Company would not be entitled to claim a deduction in respect of any payments of interest or Additional Amounts on or any original issue discount in respect of this Note in computing its taxation liabilities, would occur less than 45 days after the relevant change or amendment to the applicable laws, regulations, determinations or guidelines, the Company may give less than 30 days’ written notice but in no case less than 15 days’ written notice, provided it gives such notice as soon as practicable in all the circumstances.

 

The Redemption Price for this Note shall equal 100% of the principal amount of this Note plus accrued but unpaid interest to but excluding the date of redemption.

 

The Indenture contains provisions for defeasance and covenant defeasance at any time of the indebtedness evidenced by this Note upon compliance by the Company with certain conditions set forth therein.

 

If an Event of Default shall have occurred and be continuing, the principal hereof may be declared, and upon such declaration become, due and payable immediately, in the manner, with the effect and subject to the conditions provided in the Indenture.  The Indenture contains provisions permitting the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes, on behalf of all of the Holders of the Notes, to waive any Event of Default under the Indenture and its consequences, subject to Section 5.7 of the Indenture.

 

In accordance with Section 9.8 of the Indenture, the Company will pay all amounts that it is required to pay on this Note without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or other governmental charges imposed or levied by or on behalf of the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, unless such withholding or deduction is required by law.  If the Company withholds or deducts any such amount from any payment on this Note, the Company will pay such additional amounts (the “Additional

 

A-5

 

Amounts”) so that the net amounts received by the Holder of this Note, after such withholding or deduction, will equal the amounts that the Holder of this Note would have received on this Note if such withholding or deduction had not been required; provided that no Additional Amounts shall be payable for or on account of:

 

(1)          any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder of this Note was a resident, domiciliary or national of, or engaged in business or maintained a permanent establishment or was physically present in, the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein or otherwise had some connection with the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein other than merely holding this Note, or receiving payments under this Note;

 

(2)          any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder of this Note presented this Note for payment in the Commonwealth of Australia, unless the Holder was required to present this Note for payment and it could not have been presented for payment anywhere else;

 

(3)          any tax, duty, assessment or other governmental charge that would not have been imposed but for the fact that the Holder of this Note presented this Note for payment more than 30 days after the date such payment became due and was provided for, whichever is later, except to the extent that the Holder would have been entitled to the Additional Amounts on presenting this Note for payment on any day during that 30 day period;

 

(4)          any estate, inheritance, gift, sale, transfer, personal property or similar tax, duty, assessment or other governmental charge;

 

(5)          any tax, duty, assessment or other governmental charge which is payable otherwise than by withholding or deduction;

 

(6)          any tax, duty, assessment or other governmental charge that would not have been imposed if the Holder or beneficial owner of this Note complied with the Company’s request to provide information concerning his, her or its nationality, residence or identity or to make a declaration, claim or filing or satisfy any requirement for information or reporting that is required to establish the eligibility of the Holder, or the beneficial owner, of this Note to receive the relevant payment without (or at a reduced rate of) withholding or deduction for or on account of any such tax, duty, assessment or other governmental charge;

 

(7)          any tax, duty, assessment or other governmental charge that would not have been imposed but for the Holder or beneficial owner of this Note being an associate of

 

A-6

 

the Company for purposes of section 128F(6) of the Income Tax Assessment Act 1936 of the Commonwealth of Australia (the “Australian Tax Act”) (other than in the capacity of a clearing house, paying agent, custodian, funds manager or responsible entity of a registered managed investment scheme under the Australian Corporations Act);

 

(8)          any tax, duty, assessment or other governmental charge that is imposed or withheld as a consequence of a determination having been made under Part IVA of the Australian Tax Act (or any modification thereof or provision substituted therefore) by the Australian Commissioner of Taxation that such tax, duty, assessment or other governmental charge is payable in circumstances where the Holder or the beneficial owner of this Note is a party to or participated in a scheme to avoid such tax which the Company was not a party to;

 

(9)          any tax, duty, assessment or other governmental charge that is imposed pursuant to European Council Directive 2003/48/EC (the “Directive”) or any law implementing or complying with, or introduced in order to conform to, such Directive, or any agreement entered into by a Member State of the European Union with (A) any other state or (B) any relevant, dependent or associated territory of any Member State of the European Union providing for measures equivalent to, or the same as, those provided for by such Directive;

 

(10)    any tax, duty, assessment or other governmental charge arising under or in connection with sections 1471 to 1474 of the U.S. Internal Revenue Code of 1986, as amended (including any regulations or official interpretations issued, agreements entered into or non-U.S. laws enacted, with respect thereto) (“FATCA”); or

 

(11)    any combination of the foregoing.

 

Subject to the foregoing, Additional Amounts will also not be payable by the Company with respect to any payment on this Note to any Holder who is a fiduciary or partnership or other than the sole beneficial owner of such payment in respect of this Note to the extent that payment would, under the laws of the Commonwealth of Australia or any political subdivision or taxing authority thereof or therein, be treated as being derived or received for tax purposes by a beneficiary or settler of that fiduciary or a member of that partnership or a beneficial owner, in each case, who would not have been entitled to those Additional Amounts had it been the actual Holder of this Note.

 

The Company, and any other Person to or through which any payment with respect to this Note may be made, shall be entitled to withhold or deduct from any payment with respect to this Note amounts required to be withheld or deducted under or in connection with FATCA, and Holders and beneficial owners of this Note shall not be

 

A-7

 

entitled to receive any gross up or other additional amounts on account of any such withholding or deduction.

 

Any reference in this Note to principal or interest shall be deemed to also refer to any Additional Amount that may be payable as provided above.

 

The Indenture contains provisions permitting the Company and the Trustee, with the written consent of the Holders of not less than a majority in aggregate principal amount (calculated as provided in the Indenture) of the Outstanding Securities of each series adversely affected thereby to add any provisions to or to change or eliminate any provisions of the Indenture or any supplemental indenture or to modify the rights of the Holders of the Securities of such series, provided that, without the consent of the Holder of each such Security so affected, no such modification shall (a) change the Stated Maturity of the principal of, or any installment of principal of or interest on, any Security, or reduce the principal amount of any Security or the rate of interest thereon, or change the coin or currency in which any Security or the interest thereon is payable, or impair the right to institute suit for the enforcement of any such payment on or after the Stated Maturity of any Security (or, in the case of redemption, on or after the Redemption Date), or (b) reduce the percentage in principal amount of the Outstanding Securities of any series, the consent of whose Holders is required for any such amendment or modification, or the consent of whose Holders is required for any waiver (of compliance with certain provisions of the Indenture or certain defaults thereunder and their consequences) provided for in the Indenture, or (c) change any obligation of the Company to maintain an office or agency in the places and for the purposes specified in Section 9.2 of the Indenture, or (d) except to the extent provided in Section 8.1(9) of the Indenture, make any change in Section 5.2, 5.7, 5.10 or 8.2 of the Indenture except to increase any percentage or to provide that certain other provisions of the Indenture cannot be modified or waived except with the consent of the Holders of each Outstanding Security affected thereby.  Any such consent given by the Holder of this Note shall be conclusive and binding upon such Holder and all future Holders of this Note and of any Notes issued on registration hereof, the transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent is made upon this Note.

 

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

 

Upon surrender for registration of transfer of this Note, the Company shall execute and the Trustee shall authenticate and deliver, in the name of the designated transferee or transferees, a new Note or Notes of like tenor and authorized denominations for an equal aggregate principal amount in exchange herefor, subject to the limitations provided in the Indenture.  Every Note presented or surrendered for registration of transfer or for exchange shall (if so required by the Company, the Registrar or the

 

A-8

 

Trustee) be duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company, the Registrar and the Trustee duly executed by the Holder thereof or his attorney duly authorized in writing.  No service charge shall be made for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

 

Prior to due presentment of this Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the person in whose name this Note is registered as the owner hereof for all purposes (subject to the provisions hereof with respect to determination of the Person to whom interest is payable).

 

Reference is made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Notes and of the terms upon which the Notes are to be authenticated and delivered.

 

No past, present or future director, officer, employee, agent, member, manager, trustee or stockholder, as such, of the Company or any successor Person shall have any liability for any obligations of the Company or any successor Person, either directly or through the Company or any successor Person, under the Notes or this Indenture or for any claim based on, in respect of or by reason of such obligations or their creation, whether by virtue of any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise.  By accepting a Note, each Holder agrees to the provisions of Section 1.13 of the Indenture and waives and releases all such liability.  Such waiver and release shall be part of the consideration for the issue of the Notes.

 

The Notes of this series shall be issuable only in denominations of US$2,000 and integral multiples of US$1,000 in excess thereof.  [This Global Note is exchangeable for Notes in definitive form only under certain limited circumstances set forth in the Indenture.](2)  At the option of the Holder, the Notes (except a Note in global form) may be exchanged for other Notes, of any authorized denominations and of a like aggregate principal amount containing identical terms and provisions, upon surrender of the Notes to be exchanged at such office or agency.

 

All terms used in this Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 

(2)  Insert in Global Notes only

 

A-9

 

THE INDENTURE AND THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS.

 

A-10

 

TRANSFER NOTICE

 

FOR VALUE RECEIVED the undersigned registered Holder hereby sell(s), assign(s) and transfer(s) unto

 

	
Insert Taxpayer Identification No.
    
	
 
    
	
 
    
	
Please print or typewrite name and address   including zip code of assignee
    
	
 
    
	
 
    
	
the within Note and all rights thereunder,   hereby irrevocably constituting and appointing attorney to transfer such Note   on the books of the Company with full power of substitution in the premises.
    

 

Your Signature:

 

	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Signature   Guarantee:
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    
	
 
    	
(Participant in a Recognized Signature   Guaranty Medallion Program)
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    

 

A-11Exhibit 10.1

 

ADDITIONAL CREDIT EXTENSION AMENDMENT

 

This Additional Credit Extension Amendment is dated as of August 13, 2012 (this “Amendment”), by and among each of the financial institutions set forth on Schedule A annexed hereto (each an “Additional Lender” and collectively the “Additional Lenders”), Select Medical Corporation, a Delaware corporation (the “Borrower”), Select Medical Holdings Corporation, a Delaware corporation (“Holdings”) and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent.

 

RECITALS:

 

WHEREAS, reference is hereby made to the Credit Agreement, dated as of June 1, 2011 (as it may be amended, restated, replaced, supplemented or otherwise modified from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), among Borrower, Select Medical Holdings Corporation, as Holdings, the Lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent, and the other parties party thereto;

 

WHEREAS, subject to the terms and conditions of the Credit Agreement, Borrower  may obtain Incremental Revolver Commitments and/or Incremental Term Loans by entering into one or more Additional Credit Extension Amendments with Additional Lenders; and

 

WHEREAS, pursuant to Section 2.20 of the Credit Agreement, the Credit Agreement may, without the consent of any other Lenders, be amended as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of Section 2.20 of the Credit Agreement.

 

NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the parties hereto agree as follows:

 

Each Additional Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Amendment; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender or Agent and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent and each other Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to Administrative Agent or such other Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Credit Agreement are required to be performed by it as a Lender.

 

Each Additional Lender hereby commits to provide its respective Incremental Term Loans as set forth on Schedule A annexed hereto, on the terms and subject to the conditions set forth below:

 

1.                                       Applicable Rate.  The Applicable Rate for each Incremental Term Loan made pursuant to this Amendment (each a “Series A Tranche B Term Loan”) shall mean, as of any date of determination, the Applicable Rate for the Tranche B Term Loans.

 

2.                                       Principal Payments.  Borrower shall make principal payments on the Series A Tranche B Term Loans in installments on the dates and in the amounts equal to the percentage set forth below of

 

 

an amount equal to the aggregate principal amount of the Series A Tranche B Term Loans outstanding as of the date hereof:

 

	
Amortization Date
    	
 
    	
Series A Tranche B Term
   Loan Installments
    
	
September 30,   2012
    	
 
    	
0.25%
    
	
December 31,   2012
    	
 
    	
0.25%
    
	
March 31,   2013
    	
 
    	
0.25%
    
	
June 30,   2013
    	
 
    	
0.25%
    
	
September 30,   2013
    	
 
    	
0.25%
    
	
December 31,   2013
    	
 
    	
0.25%
    
	
March 31,   2014
    	
 
    	
0.25%
    
	
June 30,   2014
    	
 
    	
0.25%
    
	
September 30,   2014
    	
 
    	
0.25%
    
	
December 31,   2014
    	
 
    	
0.25%
    
	
March 31,   2015
    	
 
    	
0.25%
    
	
June 30,   2015
    	
 
    	
0.25%
    
	
September 30,   2015
    	
 
    	
0.25%
    
	
December 31,   2015
    	
 
    	
0.25%
    
	
March 31,   2016
    	
 
    	
0.25%
    
	
June 30, 2016
    	
 
    	
0.25%
    
	
September 30, 2016
    	
 
    	
0.25%
    
	
December 31, 2016
    	
 
    	
0.25%
    
	
March 31, 2017
    	
 
    	
0.25%
    
	
June 30, 2017
    	
 
    	
0.25%
    
	
September 30, 2017
    	
 
    	
0.25%
    
	
December 31, 2017
    	
 
    	
0.25%
    
	
March 31, 2018
    	
 
    	
0.25%
    
	
Tranche B Maturity Date
    	
 
    	
Remaining Balance
    

 

3.                                       Voluntary and Mandatory Prepayments.  Any prepayment of a Series A Tranche B Term Loan Borrowing pursuant to clause (c) or (d) of Section 2.11 of the Credit Agreement shall be applied (i) first, to reduce, in the direct order of maturity, the scheduled repayments of the Series A Tranche B Term Loan Borrowings to be made pursuant to Section 2 of this Amendment on the four consecutive scheduled payment dates next following the date of such prepayment unless and until each such scheduled repayment has been eliminated as a result of reductions hereunder; and (ii) second, to reduce ratably the remaining scheduled repayments of the Series A Tranche B Term Loan Borrowings.  Any prepayment of a Series A Tranche B Term Loan Borrowing pursuant to Section 2.11(a) of the Credit Agreement shall be applied to reduce scheduled repayment amounts of the Series A Tranche B Term Loans as directed by the Borrower.

 

4.                                       Closing Fee.  Borrower agrees to pay on the date hereof to Administrative Agent, for the account of each Additional Lender party to this Amendment, as fee compensation for the funding of such Additional Lender’s Series A Tranche B Term Loans, a closing fee in an amount equal to 3.00% of the aggregate principal amount of such Additional Lender’s Series A Tranche B Term Loans funded as of the date hereof (the “Closing Fee”).

 

5.                                       Prepayment Premium.  All prepayments of the Series A Tranche B Term Loans effected on or prior to June 1, 2013 with the proceeds of a substantially concurrent issuance or incurrence of new term loans (including with the proceeds of Refinancing Term Loans or Replacement Term

 

2

 

Loans and excluding a refinancing of all the facilities outstanding under this Amendment in connection with another transaction not permitted by this Amendment (as determined prior to giving effect to any amendment or waiver of this Amendment being adopted in connection with such transaction)), shall be accompanied by a prepayment fee equal to 1.00% of the aggregate principal amount of such prepayments if the Yield applicable to such new term loans is less than the Yield applicable to the Series A Tranche B Term Loans on the Amendment Effective Date (as defined below).

 

6.                                       Proposed Borrowing. In accordance with Section 2.20 of the Credit Agreement, Borrower has previously delivered to Administrative Agent an executed Borrowing Request for Series A Tranche B Term Loans, requesting a proposed borrowing in the principal amount of $275,000,000 (the “Proposed Borrowing”) on the Amendment Effective Date.  Each Additional Lender shall make its Series A Tranche B Term Loan available to Administrative Agent not later than 11:00 a.m. (New York City time) on the date hereof, by wire transfer of same day funds in Dollars to the account designated by the Administrative Agent.  Promptly upon receipt thereof, Administrative Agent shall make the proceeds of the Series A Tranche B Term Loans available to Borrower on the date hereof by causing an amount of same day funds in Dollars equal to the proceeds of all such loans received by the Administrative Agent from Additional Lenders to be credited to the account of Borrower maintained with the Administrative Agent in New York City or to such other account as may be designated in writing to the Administrative Agent by Borrower.

 

7.                                       New Lenders.  Each Additional Lender (other than any Additional Lender that, immediately prior to the execution of this Amendment, is a “Lender” under the Credit Agreement) acknowledges and agrees that upon its execution of this Amendment its Series A Tranche B Term Loan Commitments shall be effective and that such Additional Lender shall become a “Lender” under, and for all purposes of, the Credit Agreement and the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall perform all the obligations of and shall have all rights of a Lender thereunder.

 

8.                                       Credit Agreement Governs.  Series A Tranche B Term Loans shall be subject to the provisions of the Credit Agreement and the other Loan Documents, except as set forth in this Amendment, and shall constitute Tranche B Term Loans thereunder.  For the avoidance of doubt, Section 5 of this Amendment shall supersede Section 2.12(c) of the Credit Agreement with respect to Series A Tranche B Term Loans.

 

9.                                       Application of Proceeds.  On or before the fifth Business Day after the Amendment Effective Date, the Borrower shall deliver to the trustee under the Existing Subordinated Notes Indenture an irrevocable notice of redemption with respect to Existing Subordinated Notes in an aggregate principal amount equal to $275,000,000.

 

10.                                 Conditions to Effectiveness.  This Amendment shall become effective on August 13, 2012 (the “Amendment Effective Date”) when:

 

(i)                                     this Amendment shall have been executed and delivered by the Borrower, Holdings, the other Loan Parties, each Additional Lender party hereto and the Administrative Agent;

 

(ii)                                  the Administrative Agent shall have received copies of the resolutions of the board of directors (or authorized committee thereof) of (x) Holdings, (y) the Borrower and (z) each Subsidiary Loan Party approving and authorizing the execution, delivery and performance of this Amendment, certified as of the Amendment

 

3

 

Effective Date by the corporate secretary or an assistant secretary thereof as being in full force and effect without modification or amendment;

 

(iii)                               the Administrative Agent shall have received a legal opinion dated the Amendment Effective Date from Dechert LLP in form and substance reasonably satisfactory to the Arrangers and the Administrative Agent;

 

(iv)                              the representations and warranties set forth in Article III of the Credit Agreement and in each other Loan Document shall be true and correct in all material respects (except to the extent any such representation or warranty is qualified by “materially,” “Material Adverse Effect” or a similar term, in which case such representation and warranty shall be true and correct in all respects) on and as of the date hereof (both before and after giving effect to the Series A Tranche B Term Loans and the use of proceeds therefrom) with the same effect as though made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date (provided that the solvency representation will be deemed to have been made on the Amendment Effective Date after giving effect to the Series A Tranche B Term Loans and use of the proceeds therefrom);

 

(v)                                 each Additional Lender and the Administrative Agent shall have received at least 3 business days prior to the date hereof all documentation and other information about the Borrower and the Subsidiary Loan Parties required under applicable “know your customer” and anti-money laundering rules and regulations, including the PATRIOT Act that has been requested in writing at least 5 business days prior to the date hereof;

 

(vi)                              the Administrative Agent shall have received a Borrowing Request in respect of the Series A Tranche B Term Loans as required by Section 2.03 of the Credit Agreement;

 

(vii)                           immediately prior to and after giving effect to the Proposed Borrowing no Default has occurred or is continuing or shall result from the Proposed Borrowing and the use of proceeds therefrom;

 

(viii)                        the Administrative Agent shall have received a certificate, dated the Amendment Effective Date and signed by an authorized officer of the Borrower, certifying compliance with the clauses (iv), (vii) and (ix) of Section 10 of this Amendment and Section 2.20 of the Credit Agreement;

 

(ix)                                immediately prior to and on a Pro Forma Basis after giving effect to the incurrence of the Series A Tranche B Term Loans and the application of the proceeds therefrom, (x) the Borrower is in compliance with the Financial Performance Covenant recomputed as of the last day of the most recently ended fiscal quarter for which financial statements of the Borrower are available and (y) the Secured Leverage Ratio of the Borrower is less than or equal to 3.50 to 1.00 as of the last day of the most recent fiscal quarter of the Borrower for which financial statements have been delivered pursuant to Section 5.01(a) or (b) of the Credit Agreement;

 

4

 

(x)                                   the Administrative Agent shall have received payment of all fees and out-of-pocket expenses required to be paid or reimbursed by Borrower as separately agreed by Borrower and J.P. Morgan Securities LLC (“J.P. Morgan”) and Goldman Sachs Lending Partners LLC (“Goldman”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“ML”), Morgan Stanley Senior Funding, Inc. (“MS”), Wells Fargo Securities, LLC (“Wells”) and RBC Capital Markets, LLC (“RBC” and together with J.P. Morgan, Goldman, ML, MS and Wells, collectively, the “Arrangers”), and reimbursement or payment of all reasonable out-of-pocket expenses (including the reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP) required to be reimbursed or paid by any Loan Party hereunder or under any other Loan Document,

 

(xi)                                (i) the Administrative Agent shall have received a completed “Life-of-Loan” Federal Emergency Management Agency Standard Flood Hazard Determination with respect to each Mortgaged Property (together with a notice about special flood hazard area status and flood disaster assistance, if applicable, duly executed by the Borrower and each Loan Party relating thereto) and (ii) the Administrative Agent shall have received a copy of, or a certificate as to coverage under, the insurance policies required by Section 5.07 including, without limitation, flood insurance policies (to the extent required in order to comply with applicable law) and the applicable provisions of the Security Documents, each of which shall be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss payable or mortgagee endorsement (as applicable) and shall name the Collateral Agent, on behalf of the Secured Parties, as additional insured, in form and substance reasonably satisfactory to the Administrative Agent; and

 

(xii)                             the Borrower shall have paid to the Administrative Agent for the account of each Additional Lender the Closing Fee, which Closing Fee may take the form of original issue discount.

 

11.                                 Post Closing Covenant.  Subject to the provisions of the Collateral and Guarantee Requirement and any applicable limitations in any Loan Document, Borrower hereby agrees with the Administrative Agent to:

 

i.                                          within 90 days after the Amendment Effective Date (or such longer period of time as may be agreed by the Administrative Agent in its sole discretion), with respect to each Mortgaged Property:

 

(A)              an amendment to each existing Mortgage (each, a “Mortgage Amendment”) duly executed and acknowledged by the applicable Loan Party and in form for recording in the recording office where such Mortgage was recorded, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof under applicable law, in each case in form and substance reasonably satisfactory to the Administrative Agent;

 

(B)               cause to be delivered a favorable opinion of counsel to the Loan Parties, addressed to the Administrative Agent and the Secured Parties party to the Credit Agreement covering, among other things, the due authorization, execution, delivery and enforceability of each Mortgage as

 

5

 

amended by the applicable Mortgage Amendment, and otherwise in form and substance reasonably satisfactory to the Administrative Agent; and

 

(C)               with respect to each Mortgage Amendment, a title search (each, a “Title Search,” collectively, the “Title Searches”) relating to the Mortgaged Property subject to such Mortgage assuring the Administrative Agent that there are no Liens of record in violation of the provisions of the Loan Documents, and such Title Search shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent.

 

12.                                 Notice.  For purposes of the Credit Agreement, the initial notice address of each Additional Lender shall be as set forth below its signature below.

 

13.                                 Recordation of the New Loans.  Upon execution and delivery hereof, Administrative Agent will record the Series A Tranche B Term Loans made by Additional Lenders pursuant hereto in the Register.

 

14.                                 Reaffirmation.

 

i.                                          Each Loan Party hereby expressly acknowledges the terms of this Amendment and reaffirms, as of the date hereof, the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Amendment and the transactions contemplated hereby.

 

ii.                                       Each Loan Party, by its signature below, hereby affirms and confirms (a) its obligations under each of the Loan Documents to which it is a party, and (b) the pledge of and/or grant of a security interest in its assets which are Collateral to secure such Obligations, all as provided in the Security Documents as originally executed, and acknowledges and agrees that such guarantee, pledge and/or grant continue in full force and effect in respect of, and to secure, such Obligations under the Credit Agreement and the other Loan Documents.

 

ii.                                       Each Loan Party acknowledges and agrees that each of the Loan Documents in existence as of the date hereof shall be henceforth read and construed in accordance with and so as to give full force and effect to the ratifications, confirmations, acknowledgements and agreements made herein.

 

15.                                 Amendment, Modification and Waiver.  This Amendment may not be amended, modified or waived except by an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto.

 

16.                                Entire Agreement.  This Amendment, the Credit Agreement and  the other Loan Documents constitute the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof.  It is understood and agreed that each reference in each Loan Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed to be a reference to the Credit Agreement as amended and supplemented hereby and that this Amendment is a Loan Document.

 

6

 

17.                                 GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

18.                                 Severability.  Any term or provision of this Amendment which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Amendment or affecting the validity or enforceability of any of the terms or provisions of this Amendment in any other jurisdiction.  If any provision of this Amendment is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable.

 

19.                                 Counterparts.  This Amendment may be executed in counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement.

 

[Remainder of page intentionally left blank]

 

7

 

IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Amendment as of the date first written above.

 

	
 
    	
JPMORGAN   CHASE BANK, N.A., as an 
   “Additional Lender”
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Vanessa Chiu
    
	
 
    	
 
    	
Name:
    	
Vanessa   Chiu
    
	
 
    	
 
    	
Title:
    	
Executive   Director
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Notice   Address:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Attention:
    
	
 
    	
Telephone:
    
	
 
    	
Facsimile:
    

 

 

	
 
    	
 
    	
SELECT MEDICAL CORPORATION
    
	
 
    	
 
    	
as the Borrower
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Martin F. Jackson
    
	
 
    	
 
    	
 
    	
Name:
    	
Martin F. Jackson
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
SELECT MEDICAL HOLDINGS   CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Martin F. Jackson
    
	
 
    	
 
    	
 
    	
Name:
    	
Martin F. Jackson
    
	
 
    	
 
    	
 
    	
Title:
    	
Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 1 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 2 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
Title:
    	
Vice President and Assistant   Secretary
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 3 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Select Physical   Therapy Holdings, its general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    

 

 

	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 4 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Select Physical   Therapy Orthopedic Services, Inc., its general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 5 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Regency Management   Company, Inc., its general partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
EACH OF THE SUBSIDIARIES LISTED   UNDER THE HEADING GROUP 6 ON SCHEDULE I HERETO
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Regency Hospitals,   LLC, its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:   Regency Hospital Company, L.L.C., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By: Intensiva Healthcare   Corporation, its sole member
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    

 

 

	
 
    	
 
    	
Kessler   professional services, llc
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Kessler Institute for   Rehabilitation, Inc., its managing member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
ARGOSY   HEALTH, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Kessler Rehab Centers,   Inc., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SELECT   MEDICAL PROPERTY VENTURES, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Select Medical   Corporation, its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Executive Vice President   and Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
SELECT   specialty hospital – northern kentucky, llc
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Select Specialty   Hospital – Lexington, Inc., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    

 

 

	
 
    	
 
    	
SELECT   SPECIALTY HOSPITAL – TULSA/MIDTOWN, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:   Select Specialty Hospital – Tulsa, Inc., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael   E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
WEST   GABLES REHABILITATION HOSPITAL, LLC
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:   Sports & Orthopedic Rehabilitation Services, Inc., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:   
    	
Michael   E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
GP   THERAPY, L.L.C.
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:   Georgia Physical Therapy, Inc., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael   E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
THE   REHAB GROUP – MURFREESBORO, LLC
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:   The Rehab Group, Inc., its managing member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/   Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael   E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
											

 

 

	
 
    	
 
    	
REGENCY   HOSPITAL COMPANY, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Intensiva Healthcare   Corporation, its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    
	
 
    	
 
    	
 
    	
 
    

 

	
 
    	
 
    	
REGENCY HOSPITALS, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By: Regency Hospital   Company, L.L.C., its sole member
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:    Intensiva Healthcare Corporation, its sole member
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
By:
    	
/s/ Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Name:
    	
Michael E. Tarvin
    
	
 
    	
 
    	
 
    	
 
    	
Title:
    	
Vice President and   Secretary
    

 

 

	
Consented to by:
    	
 
    
	
 
    	
 
    
	
JPMORGAN CHASE BANK, N.A.,
    	
 
    
	
as Administrative Agent
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Vanessa Chiu
    	
 
    
	
 
    	
Name:
    	
Vanessa   Chiu
    	
 
    
	
 
    	
Title:
    	
Executive   Director
    	
 
    

 

 

SCHEDULE A
 TO ADDITIONAL CREDIT
 EXTENSION AMENDMENT

 

	
Name of Lender
    	
 
    	
Type of Commitment
    	
 
    	
Amount
    
	
J.P. Morgan Chase Bank, N.A.
    	
 
    	
Series A   Tranche B Term Loan Commitment
    	
 
    	
$275,000,000.00
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Total:   $275,000,000.00
    

 

Schedule A-1

 

SCHEDULE I
 TO ADDITIONAL CREDIT
 EXTENSION AMENDMENT

 

SUBSIDIARY LOAN PARTIES

 

Group 1

 

1.                                                               Advantage Rehabilitation Clinics, Inc.

 

2.                                                               American Transitional Hospitals, Inc.

 

3.                                                               Baseline Rehabilitation, Inc.

 

4.                                                               C.E.R. - West, Inc.

 

5.                                                               Community Rehab Centers of Massachusetts, Inc.

 

6.                                                               Crowley Physical Therapy Clinic, Inc.

 

7.                                                               Dade Prosthetics & Orthotics, Inc.

 

8.                                                               Douglas Avery & Associates, Ltd.

 

9.                                                               Eagle Rehab Corporation

 

10.                                                         Fine, Bryant & Wah, Inc.

 

11.                                                         Georgia Physical Therapy, Inc.

 

12.                                                         Gulf Breeze Physical Therapy, Inc.

 

13.                                                         Hospital Holdings Corporation

 

14.                                                         Indianapolis Physical Therapy and Sports Medicine, Inc.

 

15.                                                         Intensiva Healthcare Corporation

 

16.                                                         Intensiva Hospital of Greater St. Louis, Inc.

 

17.                                                         Johnson Physical Therapy, Inc.

 

18.                                                         Joyner Sportsmedicine Institute, Inc.

 

19.                                                         Kentucky Rehabilitation Services, Inc.

 

20.                                                         Kessler Institute for Rehabilitation, Inc.

 

 

21.                                                         Kessler Orthotic & Prosthetic Services, Inc.

 

22.                                                         Kessler Rehab Centers, Inc.

 

23.                                                         Kessler Rehabilitation Corporation

 

24.                                                         Kessler Rehabilitation Services, Inc.

 

25.                                                         Madison Rehabilitation Center, Inc.

 

26.                                                         Metro Rehabilitation Services, Inc.

 

27.                                                         Metro Therapy, Inc.

 

28.                                                         New England Rehabilitation Center of Southern New Hampshire, Inc.

 

29.                                                         NovaCare Occupational Health Services, Inc.

 

30.                                                         NovaCare Outpatient Rehabilitation East, Inc.

 

31.                                                         NovaCare Outpatient Rehabilitation, Inc.

 

32.                                                         NovaCare Rehabilitation of Ohio, Inc.

 

33.                                                         NovaCare Rehabilitation, Inc.

 

34.                                                         Pacific Rehabilitation & Sports Medicine, Inc.

 

35.                                                         PR Acquisition Corporation

 

36.                                                         Pro Active Therapy of North Carolina, Inc.

 

37.                                                         Pro Active Therapy of South Carolina, Inc.

 

38.                                                         Pro Active Therapy of Virginia, Inc.

 

39.                                                         Pro Active Therapy, Inc.

 

40.                                                         Professional Sports Care Management, Inc.

 

41.                                                         Professional Therapeutic Services, Inc.

 

42.                                                         Professional Therapy Systems, Inc.

 

43.                                                         PTSMA, Inc.

 

44.                                                         RCI (Michigan), Inc.

 

45.                                                         RCI (WRS), Inc.

 

 

46.                                                         Regency Management Company, Inc.

 

47.                                                         Rehab Provider Network - East I, Inc.

 

48.                                                         Rehab Provider Network - East II, Inc.

 

49.                                                         Rehab Provider Network - Indiana, Inc.

 

50.                                                         Rehab Provider Network - New Jersey, Inc.

 

51.                                                         Rehab Provider Network - Pennsylvania, Inc.

 

52.                                                         Rehab Provider Network of Colorado, Inc.

 

53.                                                         Rehab Provider Network of Florida, Inc.

 

54.                                                         Rehab Provider Network of New Mexico, Inc.

 

55.                                                         Rehab Provider Network of North Carolina, Inc.

 

56.                                                         Rehab Provider Network of South Carolina, Inc.

 

57.                                                         Rehab Provider Network of Texas, Inc.

 

58.                                                         Rehab Provider Network of Virginia, Inc.

 

59.                                                         Rehab Provider Network-Michigan, Inc.

 

60.                                                         Rehab Provider Network-Ohio, Inc.

 

61.                                                         RehabClinics (GALAXY), Inc.

 

62.                                                         RehabClinics (PTA), Inc.

 

63.                                                         RehabClinics (SPT), Inc.

 

64.                                                         RehabClinics, Inc.

 

65.                                                         Rehabilitation Center of Washington, D.C., Inc.

 

66.                                                         RPN of NC, Inc.

 

67.                                                         S.T.A.R.T., Inc.

 

68.                                                         Select Employment Services, Inc.

 

69.                                                         Select Hospital Investors, Inc.

 

70.                                                         Select Medical of Kentucky, Inc.

 

 

71.                                                         Select Medical of Maryland, Inc.

 

72.                                                         Select Medical of New York, Inc.

 

73.                                                         Select Medical Rehabilitation Clinics, Inc.

 

74.                                                         Select Medical Rehabilitation Services, Inc.

 

75.                                                         Select NovaCare - KOP, Inc.

 

76.                                                         Select NovaCare - PBG, Inc.

 

77.                                                         Select NovaCare - PIT, Inc.

 

78.                                                         Select Physical Therapy Holdings, Inc.

 

79.                                                         Select Physical Therapy Network Services, Inc.

 

80.                                                         Select Physical Therapy of Chicago, Inc.

 

81.                                                         Select Physical Therapy Orthopedic Services, Inc.

 

82.                                                         Select Provider Networks, Inc.

 

83.                                                         Select Rehabilitation Hospital - Hershey, Inc.

 

84.                                                         Select Specialty Hospital - Ann Arbor, Inc.

 

85.                                                         Select Specialty Hospital - Arizona, Inc.

 

86.                                                         Select Specialty Hospital - Augusta, Inc.

 

87.                                                         Select Specialty Hospital - Beech Grove, Inc.

 

88.                                                         Select Specialty Hospital - Charleston, Inc.

 

89.                                                         Select Specialty Hospital - Cincinnati, Inc.

 

90.                                                         Select Specialty Hospital - Colorado Springs, Inc.

 

91.                                                         Select Specialty Hospital - Columbus, Inc.

 

92.                                                         Select Specialty Hospital - Conroe, Inc.

 

93.                                                         Select Specialty Hospital - Dallas, Inc.

 

94.                                                         Select Specialty Hospital - Danville, Inc.

 

95.                                                         Select Specialty Hospital - Denver, Inc.

 

 

96.                                                         Select Specialty Hospital - Durham, Inc.

 

97.                                                         Select Specialty Hospital - Erie, Inc.

 

98.                                                         Select Specialty Hospital - Evansville, Inc.

 

99.                                                         Select Specialty Hospital - Flint, Inc.

 

100.                                                   Select Specialty Hospital - Fort Smith, Inc.

 

101.                                                   Select Specialty Hospital - Fort Wayne, Inc.

 

102.                                                   Select Specialty Hospital - Gainesville, Inc.

 

103.                                                   Select Specialty Hospital - Greensboro, Inc.

 

104.                                                   Select Specialty Hospital - Grosse Pointe, Inc.

 

105.                                                   Select Specialty Hospital - Jackson, Inc.

 

106.                                                   Select Specialty Hospital - Johnstown, Inc.

 

107.                                                   Select Specialty Hospital - Kalamazoo, Inc.

 

108.                                                   Select Specialty Hospital - Kansas City, Inc.

 

109.                                                   Select Specialty Hospital - Knoxville, Inc.

 

110.                                                   Select Specialty Hospital - Laurel Highlands, Inc.

 

111.                                                   Select Specialty Hospital - Lexington, Inc.

 

112.                                                   Select Specialty Hospital - Little Rock, Inc.

 

113.                                                   Select Specialty Hospital - Longview, Inc.

 

114.                                                   Select Specialty Hospital - Macomb County, Inc.

 

115.                                                   Select Specialty Hospital - Madison, Inc.

 

116.                                                   Select Specialty Hospital - McKeesport, Inc.

 

117.                                                   Select Specialty Hospital - Memphis, Inc.

 

118.                                                   Select Specialty Hospital - Midland, Inc.

 

119.                                                   Select Specialty Hospital - Milwaukee, Inc.

 

120.                                                   Select Specialty Hospital - Nashville, Inc.

 

 

121.                                                   Select Specialty Hospital - North Knoxville, Inc.

 

122.                                                   Select Specialty Hospital - Northeast New Jersey, Inc.

 

123.                                                   Select Specialty Hospital - Northeast Ohio, Inc.

 

124.                                                   Select Specialty Hospital - Northwest Detroit, Inc.

 

125.                                                   Select Specialty Hospital - Oklahoma City, Inc.

 

126.                                                   Select Specialty Hospital - Omaha, Inc.

 

127.                                                   Select Specialty Hospital - Orlando, Inc.

 

128.                                                   Select Specialty Hospital - Palm Beach, Inc.

 

129.                                                   Select Specialty Hospital - Panama City, Inc.

 

130.                                                   Select Specialty Hospital - Pensacola, Inc.

 

131.                                                   Select Specialty Hospital - Phoenix, Inc.

 

132.                                                   Select Specialty Hospital - Pittsburgh/UPMC, Inc.

 

133.                                                   Select Specialty Hospital - Pontiac, Inc.

 

134.                                                   Select Specialty Hospital - Quad Cities, Inc.

 

135.                                                   Select Specialty Hospital - Saginaw, Inc.

 

136.                                                   Select Specialty Hospital - San Antonio, Inc.

 

137.                                                   Select Specialty Hospital - Savannah, Inc.

 

138.                                                   Select Specialty Hospital - Sioux Falls, Inc.

 

139.                                                   Select Specialty Hospital - South Dallas, Inc.

 

140.                                                   Select Specialty Hospital - Springfield, Inc.

 

141.                                                   Select Specialty Hospital - Tallahassee, Inc.

 

142.                                                   Select Specialty Hospital - Topeka, Inc.

 

143.                                                   Select Specialty Hospital - TriCities, Inc.

 

144.                                                   Select Specialty Hospital - Tulsa, Inc.

 

145.                                                   Select Specialty Hospital - Western Michigan, Inc.

 

 

146.                                                   Select Specialty Hospital - Western Missouri, Inc.

 

147.                                                   Select Specialty Hospital - Wichita, Inc.

 

148.                                                   Select Specialty Hospital - Wilmington, Inc.

 

149.                                                   Select Specialty Hospital - Winston-Salem, Inc.

 

150.                                                   Select Specialty Hospital - Youngstown, Inc.

 

151.                                                   Select Specialty Hospital - Zanesville, Inc.

 

152.                                                   Select Specialty Hospitals, Inc.

 

153.                                                   Select Subsidiaries, Inc.

 

154.                                                   Select Synergos, Inc.

 

155.                                                   Select Transport, Inc.

 

156.                                                   Select Unit Management, Inc.

 

157.                                                   SemperCare, Inc.

 

158.                                                   Sports & Orthopedic Rehabilitation Services, Inc.

 

159.                                                   The Rehab Group, Inc.

 

160.                                                   Theraworks, Inc.

 

161.                                                   Victoria Healthcare, Inc.

 

Group 2

 

162.                                                   SelectMark, Inc.

 

163.                                                   SLMC Finance Corporation

 

Group 3

 

164.                                                   Select Physical Therapy of Albuquerque, Ltd.

 

165.                                                   Select Physical Therapy of Birmingham, Ltd.

 

166.                                                   Select Physical Therapy of Blue Springs Limited Partnership

 

167.                                                   Select Physical Therapy of Cave Springs Limited Partnership

 

168.                                                   Select Physical Therapy of Colorado Springs Limited Partnership

 

 

169.                                                   Select Physical Therapy of Connecticut Limited Partnership

 

170.                                                   Select Physical Therapy of Denver, Ltd.

 

171.                                                   Select Physical Therapy of Green Bay Limited Partnership

 

172.                                                   Select Physical Therapy of Illinois Limited Partnership

 

173.                                                   Select Physical Therapy of Kendall, Ltd.

 

174.                                                   Select Physical Therapy of Knoxville Limited Partnership

 

175.                                                   Select Physical Therapy of Lorain Limited Partnership

 

176.                                                   Select Physical Therapy of Louisville, Ltd.

 

177.                                                   Select Physical Therapy of Portola Valley Limited Partnership

 

178.                                                   Select Physical Therapy of Scottsdale Limited Partnership

 

179.                                                   Select Physical Therapy of St. Louis Limited Partnership

 

180.                                                   Select Physical Therapy of West Denver Limited Partnership

 

181.                                                   Select Physical Therapy Texas Limited Partnership

 

Group 4

 

182.                                                   Select Physical Therapy of Ohio Limited Partnership

 

183.                                                   Select Physical Therapy Limited Partnership for Better Living

 

Group 5

 

184.                                                   Regency Hospital of Odessa, LLLP

 

Group 6

 

185.                                                   Regency Hospital Company of Macon, L.L.C.

 

186.                                                   Regency Hospital Company of Meridian, L.L.C.

 

187.                                                   Regency Hospital Company of South Atlanta, L.L.C.

 

188.                                                   Regency Hospital Company of South Carolina, L.L.C.

 

189.                                                   Regency Hospital of Cincinnati, LLC

 

190.                                                   Regency Hospital of Columbus, LLC

 

 

191.                                                   Regency Hospital of Covington, LLC

 

192.                                                   Regency Hospital of Greenville, LLC

 

193.                                                   Regency Hospital of Jackson, LLC

 

194.                                                   Regency Hospital of Minneapolis, LLC

 

195.                                                   Regency Hospital of North Central Ohio, LLC

 

196.                                                   Regency Hospital of North Dallas Holdings, LLC

 

197.                                                   Regency Hospital of Northwest Arkansas, LLC

 

198.                                                   Regency Hospital of Northwest Indiana, LLC

 

199.                                                   Regency Hospital of Southern Mississippi, LLC

 

200.                                                   Regency Hospital of Toledo, LLC

 

201.                                                   Regency Hospital of Odessa Limited Partner, LLC

 

202.                                                   Regency Hospital of Fort Worth Holdings, LLC

 

Group 7

 

203.                                                   Kessler Professional Services, LLC

 

204.                                                   Argosy Health, LLC

 

205.                                                   Select Medical Property Ventures, LLC

 

206.                                                   Select Specialty Hospital — Northern Kentucky, LLC

 

207.                                                   Select Specialty Hospital — Tulsa/Midtown, LLC

 

208.                                                   West Gables Rehabilitation Hospital, LLC

 

209.                                                   GP Therapy, L.L.C.

 

210.                                                   The Rehab Group — Murfreesboro, LLC

 

211.                                                   Regency Hospital Company, L.L.C.

 

212.                                                   Regency Hospitals, LLC

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