Document:

Exhibit
4.6

 

EXECUTION COPY

 

 

REGISTRATION
RIGHTS AGREEMENT

 

 

by and among

 

 

Duane
Reade Acquisition Corp.

 

 

and

 

 

Banc of
America Securities LLC
Citigroup Global Markets Inc.

Credit
Suisse First Boston LLC

UBS
Securities LLC

 

 

 

Dated as of July
30, 2004

 

 

REGISTRATION
RIGHTS AGREEMENT

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into as of July 30, 2004, by
and among Duane Reade Acquisition Corp., a Delaware corporation (which will be
merged with and into Duane Reade Inc., a Delaware corporation (“Duane Reade”),
upon consummation of the Acquisition (as defined herein) with Duane Reade as
the survivor) (the “Company”), and Banc of America Securities LLC, Citigroup
Global Markets Inc., Credit Suisse First Boston LLC, and UBS Securities LLC
(collectively, the “Initial Purchasers”), each of whom has agreed to purchase
the Company’s 9.75% Senior Subordinated Notes due 2011 (the “Initial
Securities”).

 

This Agreement is
made pursuant to the (i) Purchase Agreement, dated July 23, 2004, by and
among the Initial Purchasers and the Company, and the (ii) Purchase
Agreement, dated July 23, 2004, by and between Banc of America Securities LLC
and the Company ((i)
and (ii) together, the “Purchase Agreement”) (a) for the benefit of the Initial
Purchasers and (b) for the benefit of the holders from time to time of the
Initial Securities, including the Initial Purchasers. In order to induce the
Initial Purchasers to purchase the Initial Securities, the Company has agreed
to provide the registration rights set forth in this Agreement. The execution
and delivery of this Agreement is a condition to the obligations of the Initial
Purchasers set forth in Section 5(h) of the Purchase Agreement.

 

The Initial
Securities are being issued as part of the financing to effect the Acquisition.

 

Upon consummation
of the Acquisition (the “Acquisition Closing Date”), the Company shall cause
(1) each of Duane Reade and Duane Reade GP, a New York general partnership
(“Duane Reade GP”) to execute supplemental indentures to the Indenture,
pursuant to which each of them will become a co-obligor of all the obligations
of the Company under the Initial Securities and the Indenture, (2) each of the
direct and indirect domestic subsidiaries of Duane Reade (other than Duane Reade
GP) (collectively, the “Guarantors”) to execute supplemental indentures to the
Indenture, pursuant to which each of the Guarantors will fully and
unconditionally guarantee (collectively, the “Guarantees”) all the obligations
of the Company and Duane Reade GP under the Initial Securities and the
Indenture, and (3) each of Duane Reade, Duane Reade GP and the Guarantors to
become parties hereto and to the Purchase Agreement pursuant to joinder
agreements substantially in the form attached to the Purchase Agreement as
Exhibit C (the “Joinder Agreements”).

 

The parties hereby
agree as follows:

 

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

 

Acquisition:
 The acquisition of Duane Reade by an investor
group led by Oak Hill Capital Partners, L.P. through the merger of the Company
into Duane Reade.

 

Acquisition
Closing Date:  As defined in the recitals hereto.

 

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

 

 

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

 

Commission:  The Securities and Exchange Commission.

 

Company:  As defined in the preamble hereto.

 

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

 

Duane
Reade:  As defined in the preamble hereto.

 

Duane
Reade GP:  As defined in the recitals hereto.

 

Effectiveness
Target Date:  As defined in Section 5 hereof.

 

Exchange
Act:  The Securities Exchange Act of 1934.

 

Exchange
Offer:  The registration by the Company under the Securities
Act of the Exchange Securities pursuant to a Registration Statement pursuant to
which the Company offers the Holders of all outstanding Transfer Restricted
Securities the opportunity to exchange all such outstanding Transfer Restricted
Securities held by such Holders for Exchange Securities in an aggregate
principal amount equal to the aggregate principal amount of the Transfer
Restricted Securities tendered in such exchange offer by such Holders.

 

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

 

Exchange
Securities:  The 9.75% Senior Subordinated Notes due
2011, of the same series under the Indenture as the Initial Securities, to be
issued to Holders in exchange for Transfer Restricted Securities pursuant to
this Agreement.

 

Guarantors:  As defined in the recitals hereto.

 

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

 

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

 

Indenture:  The Indenture, dated as of July 30, 2004, by and among
the Company, U.S. Bank National Association, as trustee (the “Trustee”), and,
upon consummation of the 

 

 

Acquisition, Duane
Reade, Duane Reade GP and the Guarantors, pursuant to which the Securities are
to be issued, as such Indenture is amended or supplemented from time to time in
accordance with the terms thereof.

 

Initial
Purchaser:  As defined in the preamble hereto.

 

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

 

Initial
Securities:  As defined in the preamble hereto.

 

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

 

NASD:  NASD Inc.

 

Participating Broker-Dealer: 
Any of the Initial Purchasers and any other Broker-Dealer which makes a
market in the Initial Securities and exchanges Transfer Restricted Securities
in the Exchange Offer for Exchange Securities.

 

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

 

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

 

Purchase
Agreement:  As defined in the recitals hereto.

 

Registration
Actions:  As defined in Section 4(c) hereof.

 

Registration
Default:  As defined in Section 5 hereof.

 

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

 

Securities:  The Initial Securities and the Exchange Securities.

 

Securities
Act:  The Securities Act of 1933.

 

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

 

Suspension
Notice:  As defined in Section 4(c) hereof.

 

Suspension
Period:  As defined in Section 4(c) hereof.

 

 

Trust
Indenture Act:  The Trust Indenture Act of 1939, as
amended.

 

Transfer
Restricted Securities:  Each Initial Security, until the earliest
to occur of (a) the date on which such Initial Security is exchanged in the
Exchange Offer for an Exchange Security entitled to be resold to the public by
the Holder thereof without complying with the prospectus delivery requirements
of the Securities Act, (b) the date on which such Initial Security has been
effectively registered under the Securities Act and disposed of in accordance
with a Shelf Registration Statement and (c) the date on which such Initial
Security is distributed to the public pursuant to Rule 144 under the Securities
Act or by a Broker-Dealer pursuant to the “Plan of Distribution” contemplated
by the Exchange Offer Registration Statement (including delivery of the
Prospectus contained therein).

 

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

 

Section 2.  Securities Subject to this
Agreement.

 

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

 

(b)  Holders of Transfer
Restricted Securities.  A
Person is deemed to be a holder of Transfer Restricted Securities (each, a
“Holder”) whenever such Person owns Transfer Restricted Securities.

 

Section 3.  Registered Exchange Offer.

 

(a)  Unless the Exchange Offer shall not be
permissible under applicable law or Commission policy (after the procedures set
forth in Section 6(a) hereof have been complied with), the Company shall (i)
cause to be filed with the Commission on or prior to the 120th day
after the Acquisition Closing Date (or if such 120th day is not a Business Day,
the next succeeding Business Day), a Registration Statement under the
Securities Act relating to the Exchange Securities and the Exchange Offer, (ii)
use its reasonable best efforts to cause such Registration Statement to become
effective on or prior to the 180th day after the Acquisition Closing
Date (or if such 180th day is not a Business Day, the next succeeding Business
Day), (iii) in connection with the foregoing, (A) file all pre-effective
amendments to such Registration Statement as may be necessary in order to cause
such Registration Statement to become effective, (B) if applicable, file a
post-effective amendment to such Registration Statement pursuant to Rule 430A
under the Securities Act and (C) use its reasonable best efforts to cause all
necessary filings in connection with the registration and qualification of the
Exchange Securities to be made under the state securities or blue sky laws of such
jurisdictions as any Holder shall reasonably request in writing by the time the
Exchange Offer Registration Statement is declared effective by the Commission,
it being agreed that no such registration or qualification will be made unless
so requested, to permit Consummation of the Exchange Offer; provided, however, that the Company shall not be required to
(i) qualify as a foreign corporation or as a dealer in securities in any
jurisdiction where it would not otherwise be required to qualify but for this
Section 3(a), or (ii) take any action which would subject it to general service
of process or taxation in any such jurisdiction where it is not then so
subject, and (iii) as promptly 

 

 

as practicable
after the effectiveness of such Registration Statement, commence the Exchange
Offer. The Exchange Offer shall be on the appropriate form permitting
registration of the Exchange Securities to be offered in exchange for the
Transfer Restricted Securities and to permit resales of Initial Securities held
by Broker-Dealers as contemplated by Section 3(c) hereof.

 

(b)  The Company shall use its reasonable best
efforts to cause the Exchange Offer Registration Statement to be effective
continuously and shall keep the Exchange Offer open for a period of not less than
the minimum period required under applicable federal and state securities laws
to Consummate the Exchange Offer; provided, however,
that in no event shall such period be less than 30 days and not more than 45
days (or longer if required by applicable law) after the date notice of the
Exchange Offer is mailed to the Holders. The Company shall cause the Exchange
Offer to comply in all material respects with all applicable federal and state
securities laws.  No securities other
than the Exchange Securities shall be included in the Exchange Offer
Registration Statement. The Company shall use its reasonable best efforts to
cause the Exchange Offer to be Consummated on or prior to the 210th
day after the Acquisition Closing Date (or if such 210th day is not
a Business Day, the next succeeding Business Day).

 

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

 

The Company shall
use its reasonable best efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented and amended as required by the
provisions of Section 6(c) hereof to the extent necessary to ensure that it is
available for resales of Initial Securities acquired by Broker-Dealers for
their own accounts as a result of market-making activities or other trading
activities, and to ensure that it conforms in all material respects with the
requirements of this Agreement, the Securities Act and the policies, rules and
regulations of the Commission as announced from time to time, for a period
ending on the earlier of (i) 180 days from the date on which the Exchange Offer
Registration Statement is declared effective and (ii) the date on which a
Broker-Dealer is no longer required to deliver a prospectus in connection with
market-making or other trading activities.

 

 

The Company shall
furnish as soon as practicable as many copies of the latest version of such
Prospectus to Broker-Dealers as are reasonably requested at any time during
such 180-day (or shorter as provided in the foregoing sentence) period in order
to facilitate such resales.

 

Section 4.  Shelf Registration.

 

(a)  Shelf Registration.  If (i) the Exchange Offer is not
permitted by applicable law or Commission policy (after the procedures set
forth in Section 6(a) hereof have been complied with), (ii) for any reason the
Exchange Offer is not Consummated within 210 days after the Acquisition Closing
Date (or if such 210th day is not a Business Day, the next succeeding Business
Day), or (iii) with respect to any Holder of Transfer Restricted Securities (A)
such Holder is prohibited by applicable law or Commission policy from
participating in the Exchange Offer, or (B) such Holder may not resell the
Exchange Securities acquired by it in the Exchange Offer to the public without
delivering a prospectus and that the Prospectus contained in the Exchange Offer
Registration Statement is not appropriate or available for such resales by such
Holder, or (C) such Holder is a Broker-Dealer and holds Initial Securities
acquired directly from the Company or one of its affiliates then, upon such
Holder’s or Initial Purchaser’s request, the Company shall

 

(x)  as promptly as practicable cause to be filed
a shelf registration statement pursuant to Rule 415 under the Securities Act,
which may be an amendment to the Exchange Offer Registration Statement (in
either event, the “Shelf Registration Statement”) on or prior to the earliest
to occur of (1) the later of (x) the 45th day after the date on which the
Company determines that it is not required to file the Exchange Offer
Registration Statement and (y) the 120th day after the Acquisition Closing
Date, (2) the 210th day after the Acquisition Closing Date (in the case of
clause (ii) above) and (3) the 45th day after the date on which the Company
receives notice from a Holder of Transfer Restricted Securities or an Initial
Purchaser as contemplated by clause (iii) above (such earliest date being the
“Shelf Filing Deadline”), which Shelf Registration Statement shall provide for
resales of all Transfer Restricted Securities the Holders of which shall have
provided the information required pursuant to Section 4(b) hereof; and

 

(y)  use their reasonable best efforts to cause
such Shelf Registration Statement to be declared effective by the Commission on
or before the later of (x) the 90th day after the Shelf Filing Deadline (or if
such 90th day is not a Business Day, the next succeeding Business Day) and (y)
the 180th day after the Acquisition Closing Date.

 

The Company shall use its reasonable best efforts to
keep such Shelf Registration Statement continuously effective, supplemented and
amended as required by the provisions of Sections 6(b) and (c) hereof to the
extent necessary to ensure that it is available for resales of Initial
Securities by the Holders of Transfer Restricted Securities entitled to the
benefit of this Section 4(a), and to ensure that it conforms in all material
respects with the requirements of this Agreement, the Securities Act and the
rules and regulations of the Commission as announced from time to time, for a
period of two years following the effective date of such Shelf Registration
Statement (or shorter period that will terminate when all the Initial Securities
covered by such Shelf Registration Statement have been sold pursuant to such
Shelf Registration Statement).

 

 

(b)  Provision by Holders of
Certain Information in Connection with the Shelf Registration Statement.  No Holder of Transfer Restricted
Securities may include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless and until such Holder
furnishes to the Company in writing, within 20 Business Days after receipt of a
request therefor, such information as the Company may reasonably request for
use in connection with any Shelf Registration Statement or Prospectus or
preliminary Prospectus included therein. Each Holder as to which any Shelf
Registration Statement is being effected agrees to furnish promptly to the
Company all information required to be disclosed in order to make the
information previously furnished to the Company by such Holder not materially
misleading.

 

(c)  Suspension.  Notwithstanding anything to the contrary and
subject to the limitation set forth in the next succeeding paragraph, at any
time after the effectiveness of the Shelf Registration Statement, the Company
shall be entitled to suspend its obligation to file any amendment to the Shelf
Registration Statement, furnish any supplement or amendment to a Prospectus
included in the Shelf Registration Statement, make any other filing with the
Commission, cause the Shelf Registration Statement or other filing with the
Commission to remain effective or take any similar action (collectively,
“Registration Actions”) upon (A) the issuance by the Commission of a stop order
suspending the effectiveness of the Shelf Registration Statement or the
initiation of proceedings with respect to the Shelf Registration Statement
under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any
event or the existence of any fact as a result of which the Shelf Registration
Statement would or shall contain any untrue statement of a material fact or
omit to state any material fact required to be stated therein or necessary to
make the statements therein not misleading, or the related Prospectus would or
shall contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not
misleading, or (C) the occurrence or existence of any corporate development
that, in the discretion of the Company, makes it appropriate to postpone or
suspend the availability of the Shelf Registration Statement and the related
Prospectus.  Upon the occurrence of any
of the conditions described in clause (A), (B) or (C) above, the Company shall
give prompt notice (a “Suspension Notice”) thereof to the Holders.  Upon the termination of such condition, the
Company shall give prompt notice thereof to the Holders and shall promptly
proceed with all Registration Actions that were suspended pursuant to this
paragraph.

 

The Company may
only suspend Registration Actions pursuant to the preceding paragraph for one
or more periods (each, a “Suspension Period”) not to exceed, in the aggregate,
(x) sixty days in any three month period or (y) ninety days in any twelve month
period, during which no Liquidated Damages (as defined in Section 5) shall be
payable.  Each Suspension Period shall be
deemed to begin on the date the relevant Suspension Notice is given to the
Holders and shall be deemed to end on the earlier to occur of (1) the date on
which the Company gives the Holders a notice that the Suspension Period has
terminated and (2) the date on which the number of days during which a
Suspension Period has been in effect exceeds, in the aggregate, (x) sixty days
in any three month period or (y) ninety days in any twelve month period.

 

 

Section 5.  Liquidated Damages.  Subject to the Company’s ability to declare Suspension
Periods with respect to clause (iv) below, if (i) any of the Registration
Statements required by this Agreement is not filed with the Commission on or
prior to the date specified for such filing in this Agreement, (ii) any of such
Registration Statements has not been declared effective by the Commission on or
prior to the date specified for such effectiveness in this Agreement (the
“Effectiveness Target Date”), (iii) the Exchange Offer has not been Consummated
on or prior to the date specified for such consummation in this Agreement or
(iv) any Registration Statement required by this Agreement is filed and
declared effective but shall thereafter cease to be effective or fail to be
usable for its intended purpose for more than 30 days (each such event referred
to in clauses (i) through (iv), a “Registration Default”), the Company hereby
agrees to pay liquidated damages (“Liquidated Damages”) in the form of
additional interest in cash to each Holder in an amount equal to 0.25% per
annum of the aggregate principal amount of the Transfer Restricted Securities
for the period of occurrence of the Registration Default until such time as no
Registration Default is in effect, which rate shall increase by 0.25% per annum
for each subsequent 90-day period during which such Registration Default
continues, but in no event shall such increase exceed 1.00% per annum.
Following the cure of all Registration Defaults relating to any particular
Transfer Restricted Securities, the Liquidated Damages will cease to accrue
from the date of such cure and the interest rate on the Transfer Restricted
Securities will revert to the original interest rate borne by such Transfer
Restricted Securities; provided, however,
that, if after the date such Liquidated Damages cease to accrue, a different
Registration Default occurs, Liquidated Damages may again commence accruing
pursuant to the foregoing provisions.

 

Notwithstanding
the foregoing, (i) the amount of Liquidated Damages payable shall not increase
because more than one Registration Default has occurred and is continuing and
(ii) a Holder of Transfer Restricted Securities who is not entitled to the
benefits of the Shelf Registration Statement shall not be entitled to
Liquidated Damages with respect to a Registration Default that pertains to the
Shelf Registration Statement.

 

All references in
the Indenture to “interest” include the Liquidated Damages payable pursuant to
this Section 5, and all accrued Liquidated Damages shall be payable to the
Holders entitled thereto, in the manner provided for the payment of interest in
the Indenture, as more fully set forth in the Indenture and the Securities. All
obligations of the Company set forth in the preceding paragraph that are
outstanding with respect to any Transfer Restricted Security at the time such
security ceases to be a Transfer Restricted Security shall survive until such
time as all such obligations with respect to such security shall have been satisfied
in full.

 

Section 6.  Registration Procedures.

 

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

 

(i)  If in the reasonable opinion of counsel to
the Company there is a question as to whether the Exchange Offer is permitted
by applicable law, the Company hereby 

 

 

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

 

(ii)  As a condition to its participation in the
Exchange Offer pursuant to the terms of this Agreement, each Holder of Transfer
Restricted Securities shall furnish, upon the request of the Company, prior to
the Consummation thereof, a written representation to the Company (which may be
contained in the letter of transmittal contemplated by the Exchange Offer
Registration Statement) to the effect that (A) it is not an affiliate of the
Company, (B) it is not engaged in, and does not intend to engage in, and has no
arrangement or understanding with any Person to participate in, a distribution
of the Exchange Securities to be issued in the Exchange Offer and (C) it is
acquiring the Exchange Securities in its ordinary course of business.  In addition, all such Holders of Transfer
Restricted Securities shall otherwise cooperate in the Company’s preparations
for the Exchange Offer.  Each Holder
hereby acknowledges and agrees that any Broker-Dealer and any such Holder using
the Exchange Offer to participate in a distribution of the securities to be
acquired in the Exchange Offer (1) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the Commission
enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon
Capital Holdings Corporation (available May 13, 1988), as interpreted in the
Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar
no-action letters (which may include any no-action letter obtained pursuant to
clause (i) above), and (2) must comply with the registration and prospectus
delivery requirements of the Securities Act in connection with a secondary
resale transaction and that such a secondary resale transaction should be
covered by an effective registration statement containing the selling security
holder information required by Item 507 or 508, as applicable, of Regulation
S-K if the resales are of Exchange Securities obtained by such Holder in
exchange for Initial Securities acquired by such Holder directly from the
Company.

 

(b)  Shelf Registration
Statement.  In connection with
the Shelf Registration Statement, the Company shall comply with all the
provisions of Section 6(c) hereof and shall use its reasonable best efforts to
effect such registration to permit the sale of the Transfer Restricted
Securities being sold in accordance with the intended method or methods of
distribution thereof set forth in such Shelf Registration Statement, and
pursuant thereto the Company will as promptly as practicable prepare and file
with the Commission a Registration Statement relating to the registration on
any appropriate form under the Securities Act, which form shall be available
for the sale of the Transfer Restricted Securities in accordance with the
intended method or methods of distribution thereof set forth in such Shelf
Registration Statement.

 

(c)  General Provisions.  Except as otherwise provided, in
connection with any Registration Statement and any Prospectus required by this
Agreement to permit the sale or 

 

 

resale of Transfer
Restricted Securities (including, without limitation, any Registration Statement
and the related Prospectus required to permit resales of Initial Securities by
Broker-Dealers), the Company shall:

 

(i)  use its reasonable best efforts to keep such
Registration Statement continuously effective and provide all requisite
financial statements for the period specified in Section 3 or 4 hereof, as
applicable; upon the occurrence of any event that would cause any such
Registration Statement or the Prospectus contained therein (A) to contain a
material misstatement or omission or (B) not to be effective and usable for
resale of Transfer Restricted Securities during the period required by this
Agreement, the Company shall file as promptly as practicable an appropriate
amendment to such Registration Statement, in the case of clause (A), correcting
any such misstatement or omission, and, in the case of either clause (A) or
(B), use its reasonable best efforts to cause such amendment to be declared
effective and such Registration Statement and the related Prospectus to become
usable for their intended purpose(s) as soon as practicable thereafter;

 

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

 

(iii)  advise the underwriter(s), if any, and
selling Holders as promptly as practicable and, if requested by such Persons,
to confirm such advice in writing, (A) when the Prospectus or any Prospectus
supplement or post-effective amendment has been filed, and, with respect to any
Registration Statement or any post-effective amendment thereto, when the same
has become effective, (B) of any request by the Commission for amendments to
the Registration Statement or amendments or supplements to the Prospectus or
for additional information relating thereto, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the Registration
Statement under the Securities Act or of the suspension by any state securities
commission of the qualification of the Transfer Restricted Securities for
offering or sale in any jurisdiction, or the initiation of any proceeding for
any of the preceding purposes, (D) of the existence of any fact or the
happening of any event that makes any statement of a material fact made in the
Registration Statement, the Prospectus, any amendment or supplement thereto, or
any document incorporated by reference therein untrue, or that requires the
making of any additions to or changes in the Registration Statement or the
Prospectus in order to make the statements therein not misleading (provided, however, that no advice 

 

 

by the Company
shall be required pursuant to this clause (D) in the event that the Company
either promptly files a Prospectus supplement to update the Prospectus or a
Form 8-K or other appropriate Exchange Act report that is incorporated by
reference into such Registration Statement, which, in either case, contains the
requisite information with respect to such event or facts that results in such
Registration Statement no longer containing any untrue statement of material
fact or omitting to state a material fact necessary to make the statements
contained therein not misleading).  If at
any time the Commission shall issue any stop order suspending the effectiveness
of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or
exemption from qualification of the Transfer Restricted Securities under state
securities or blue sky laws, the Company shall use its reasonable best efforts
to obtain the withdrawal or lifting of such order at the earliest practicable
time;

 

(iv)  in the case of a Shelf Registration or if a
Prospectus is required to be delivered by any Participating Broker-Dealer in
the case of an Exchange Offer, furnish without charge to each of the Initial
Purchasers, each selling Holder named in any Registration Statement, and each
of the underwriter(s), if any, before filing with the Commission, copies of any
Registration Statement or any Prospectus included therein or any amendments or
supplements to any such Registration Statement or Prospectus (including all
documents incorporated by reference after the initial filing of such
Registration Statement), which documents will be subject to the review and
comment of such Holders and underwriter(s) in connection with such sale, if
any, for a period of at least five Business Days, and the Company will not file
any such Registration Statement or Prospectus or any amendment or supplement to
any such Registration Statement or Prospectus (including all such documents
incorporated by reference) to which an Initial Purchaser of Transfer Restricted
Securities covered by such Registration Statement or the underwriter(s), if
any, shall reasonably object in writing within five Business Days after the
receipt thereof (such objection to be deemed timely made upon confirmation of
telecopy transmission within such period). 
Notwithstanding the foregoing, the Company shall not be required to take
any actions under this Section 6(c)(iv) that are not, in the reasonable
opinion of counsel for the Company, in compliance with applicable law or to
include any disclosure which at the time would have an adverse effect on the
business or operations of the Company and/or its subsidiaries, as determined in
good faith by the Company;

 

(v)  in the case of a Shelf Registration, promptly
prior to the filing of any document that is to be incorporated by reference
into a Registration Statement or Prospectus, provide copies of such document,
to the extent requested, to the Initial Purchasers, each selling Holder named
in any Registration Statement, and to the underwriter(s), if any, make the
Company’s management, officers and other representatives available for
discussion of such document and other customary due diligence matters, and
include such information in such document prior to the filing thereof as such
selling Holders or underwriter(s), if any, reasonably may request;

 

(vi)  in the case of a Shelf Registration or if a
Prospectus is required to be delivered by any Participating Broker-Dealer in
the case of an Exchange Offer, make 

 

 

available at
reasonable times for inspection by the Initial Purchasers, the managing
underwriter(s), if any, participating in any disposition pursuant to such
Registration Statement and one firm of legal counsel or accountant retained by
any of the foregoing, all financial and other records, pertinent corporate
documents and properties of the Company reasonably requested by any such
Persons and cause the Company’s officers, directors and employees to supply all
information reasonably requested by any such Holder, underwriter, attorney or
accountant in connection with such Registration Statement or any post-effective
amendment thereto subsequent to the filing thereof and prior to its
effectiveness and to be available for discussion of such documents to the
extent reasonably requested by any Holder, Initial Purchaser or underwriter;

 

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

 

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

 

(ix)  in the case of a Shelf Registration, furnish
to each selling Holder and each of the underwriter(s), if any, without charge,
at least one copy of the Registration Statement, as first filed with the
Commission, and of each amendment thereto, including financial statements and
schedules, (without documents incorporated therein by reference or exhibits
thereto, unless requested);

 

(x)  deliver to (i) in the case of an Exchange
Offer, each Participating Broker-Dealer who submits a written request to the
Company and (ii) in the case of a Shelf Registration, each selling Holder and
each of the underwriter(s), if any, without charge, as many copies of the
Prospectus (including each preliminary prospectus) and any amendment or
supplement thereto as such Persons reasonably may request; subject to the final
paragraph of this Section 6(c), the Company hereby consents to the use of the
Prospectus and any amendment or supplement thereto by each of the selling
Holders and each of the underwriter(s), if any, in connection with the offering
and the sale of the Transfer Restricted Securities covered by the Prospectus or
any amendment or supplement thereto;

 

(xi)  in the case of a Shelf Registration, enter
into such agreements (including an underwriting agreement), and make such
customary representations and warranties, and 

 

 

take all such
other customary and appropriate actions in connection therewith in order to
expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any Shelf Registration Statement contemplated by this Agreement,
all to such extent as may be reasonably requested by any Holder of Transfer
Restricted Securities or underwriter in connection with any sale or resale
pursuant to any Shelf Registration Statement contemplated by this Agreement;
and whether or not an underwriting agreement is entered into and whether or not
the registration is an Underwritten Registration, the Company shall:

 

(A)  to the extent reasonably requested, furnish
to each Initial Purchaser, each selling Holder and each underwriter, if any, in
such substance and scope as they may reasonably request and as are customarily
made by issuers to underwriters in primary underwritten offerings, upon the
effectiveness of the Shelf Registration Statement:

 

(1)  a certificate, dated the date of
effectiveness of the Shelf Registration Statement, signed by (y) the President
or any Vice President and (z) a principal financial or accounting officer of
the Company, confirming, as of the date thereof, the matters set forth in
paragraphs (i), (ii) and (iii) of Section 5(e) of the Purchase Agreement and
such other matters as such parties may reasonably request;

 

(2)  an opinion, dated the date of effectiveness
of the Shelf Registration Statement, of counsel for the Company, covering the
matters set forth in Section 5(c) of the Purchase Agreement and such other
matter as such parties may reasonably request; and

 

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

 

(B)  set forth in full or incorporate by reference
in the underwriting agreement, if any, the indemnification provisions and
procedures of Section 8 hereof with respect to all parties to be indemnified
pursuant to said Section; and

 

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

 

If at any time the
representations and warranties of the Company contemplated in Section
6(c)(xi)(A)(1) hereof cease to be true and correct, the Company shall so advise

 

 

the Initial
Purchasers and the underwriter(s), if any, and each selling Holder promptly
and, if requested by such Persons, shall confirm such advice in writing;

 

(xii)  in the case of a Shelf Registration
Statement, prior to any public offering of Transfer Restricted Securities, use
its reasonable best efforts to cooperate with the selling Holders, the
underwriter(s), if any, and their respective counsel in connection with the
registration and qualification of the Transfer Restricted Securities under the
state securities or blue sky laws of such jurisdictions as the selling Holders
or underwriter(s), if any, may reasonably request in writing by the time the
Shelf Registration Statement is declared effective by the Commission, it being
agreed that no such registration or qualification will be made unless so
requested and use its reasonable best efforts to do any and all other acts or
things necessary or advisable to enable the disposition in such jurisdictions
of the Transfer Restricted Securities covered by the Shelf Registration
Statement; provided, however, that the Company
shall not be required to register or qualify as a foreign corporation where it
is not then so qualified or to take any action that would subject it to the
service of process in suits or to taxation in any jurisdiction where it is not
then so subject;

 

(xiii)  shall issue, upon the request of any Holder
of Initial Securities covered by the Shelf Registration Statement, Exchange
Securities having an aggregate principal amount equal to the aggregate
principal amount of Initial Securities surrendered to the Company by such
Holder in exchange therefor or being sold by such Holder; such Exchange
Securities to be registered in the name of such Holder or in the name of the
purchaser(s) of such Securities, as the case may be; in return, the Initial
Securities held by such Holder shall be surrendered to the Company for
cancellation;

 

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

 

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

 

(xvi)  if any fact or event contemplated by Section
6(c)(iii)(D) hereof shall exist or have occurred, use its reasonable best
efforts to prepare a supplement or post-effective amendment to the Registration
Statement or related Prospectus or any document incorporated therein by
reference or file any other required document so that, as thereafter delivered
to the purchasers of Transfer Restricted Securities, the Prospectus will not
contain at the time of such delivery any untrue statement of a material fact or

 

 

omit to state a
material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading, or will remain so
qualified and at such time as such public disclosure is otherwise made or the
Company determines that such disclosure is not necessary, in each case to
correct any misstatement of a material fact or to include any omitted material
fact, the Company agrees promptly to notify each Holder of such determination;

 

(xvii)  provide a CUSIP number for all Exchange
Securities or Transfer Restricted Securities, as the case may be, not later
than the effective date of the Registration Statement covering such Securities
and provide the Trustee under the Indenture with any necessary printed
certificates for such Securities which are in a form eligible for deposit with
the Depository Trust Company;

 

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

 

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

 

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

 

(xxi)  cause all Securities covered by the
Registration Statement to be listed on each securities exchange or automated
quotation system on which similar securities issued by the Company are then
listed if reasonably requested by the Holders of a majority in aggregate
principal amount of Initial Securities or the managing underwriter(s), if any.

 

Each Holder agrees
by acquisition of a Transfer Restricted Security that, upon (i) receipt of any
notice from the Company of the existence of any fact of the kind described in
Section 6(c)(iii)(D) hereof, or (ii) a Suspension Period, such Holder will
forthwith discontinue disposition of Transfer Restricted Securities pursuant to
the applicable Registration Statement 

 

 

until such Holder’s
receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 6(c)(xvi) hereof, or until it is advised in writing (the “Advice”) by
the Company that the use of the Prospectus may be resumed, and has received
copies of any additional or supplemental filings that are incorporated by
reference in the Prospectus.  If so
directed by the Company, each Holder will deliver to the Company (at such
Holder’s expense) all copies, other than permanent file copies then in such
Holder’s possession, of the Prospectus covering such Transfer Restricted
Securities that was current at the time of receipt of such notice.  In the event the Company shall give any such
notice, the time period regarding the effectiveness of such Registration
Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended
by the number of days during the period from and including the date of the
giving of such notice described in (i) or (ii) of this paragraph to and
including the date when each selling Holder covered by such Registration
Statement shall have received the copies of the supplemented or amended
Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received the
Advice.

 

Section 7.  Registration Expenses.

 

(a)  All expenses incident to the Company’s
performance of or compliance with this Agreement will be borne by the Company,
regardless of whether a Registration Statement becomes effective, including,
without limitation: (i) all registration and filing fees and expenses
(including filings made by any Initial Purchaser or Holder with the NASD (and,
if applicable, the fees and expenses of any “qualified independent underwriter”
and its counsel that may be required by the rules and regulations of the
NASD)); (ii) all fees and expenses of compliance with federal securities and
state securities or blue sky laws; (iii) all expenses of printing (including
printing certificates for the Exchange Securities to be issued in the Exchange
Offer and printing of Prospectuses), messenger and delivery services and
telephone; (iv) all fees and disbursements of counsel for the Company and,
subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities;
(v) all application and filing fees in connection with listing the Exchange
Securities on a securities exchange or automated quotation system pursuant to
the requirements thereof; and (vi) all fees and disbursements of independent
certified public accountants of the Company (including the expenses of any
special audit and comfort letters required by or incident to such performance).

 

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

 

(b)  In connection with the Shelf Registration
Statement required by this Agreement, the Company will reimburse the Initial
Purchasers and the Holders of Transfer Restricted Securities being registered
pursuant to the Shelf Registration Statement, for the reasonable fees and
disbursements of not more than one counsel, who shall be Fried, Frank, Harris,
Shriver & Jacobson LLP or such other counsel as may be chosen by the
Holders of a majority in principal amount of the Transfer Restricted Securities
for whose benefit such Registration Statement is being prepared.

 

 

Each Holder shall
pay all underwriting discounts and commissions and transfer taxes, if any, relating
to the sale or disposition of such Holder’s Transfer Restricted Securities
pursuant to a Shelf Registration Statement.

 

Section 8.  Indemnification.

 

(a)  The Company agrees to indemnify and hold
harmless (i) each Holder and (ii) each Person, if any, who controls (within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act)
any Holder (any of the Persons referred to in this clause (ii) being
hereinafter referred to as a “controlling person”) and (iii) the respective officers,
directors, partners, employees, representatives and agents of any Holder or any
controlling person (any Person referred to in clause (i), (ii) or (iii) may
hereinafter be referred to as an “Indemnified Holder”), to the fullest extent
lawful, from and against any and all losses, claims, damages, liabilities,
judgments, actions and expenses (including, without limitation, and as
incurred, reimbursement of all reasonable costs of investigating, preparing,
pursuing, settling, compromising, paying or defending any claim or action, or
any investigation or proceeding by any governmental agency or body, commenced
or threatened, including the reasonable fees and expenses of any one firm of
legal counsel to any Indemnified Holder), arising out of or based upon any
untrue statement or alleged untrue statement of a material fact contained in
any Registration Statement or Prospectus (or any amendment or supplement
thereto), or any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, except insofar as such losses, claims, damages, liabilities or
expenses arise out of an untrue statement or omission or alleged untrue
statement or omission that is made in reliance upon and in conformity with
information relating to any of the Holders furnished in writing to the Company
by any of the Holders expressly for use therein; and provided,
further, that this indemnity agreement
shall not apply to any loss, claim, damage, liability or expense arising from
an offer or sale of Transfer Restricted Securities occurring during a
Suspension Period, if a notice of such Suspension Period was given to and
received by such Person.  This indemnity
agreement shall be in addition to any liability which the Company may otherwise
have.

 

In case any action
or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders
with respect to which indemnity may be sought against the Company, such
Indemnified Holder (or the Indemnified Holder controlled by such controlling
person) shall promptly notify the Company in writing; provided,
however, that the failure to give such notice shall not relieve the
Company of its obligations pursuant to this Agreement to the extent it is not
materially prejudiced as a proximate result of such failure.  The Company may participate at its own
expense in the defense of such action. 
Such Indemnified Holder shall have the right to employ its own counsel
in any such action and the fees and expenses of such counsel shall be paid, as
incurred, by the Company (regardless of whether it is ultimately determined
that an Indemnified Holder is not entitled to indemnification hereunder).  The Company shall not, in connection with any
one such action or proceeding or separate but substantially similar or related
actions or proceedings in the same jurisdiction arising out of the same general
allegations or circumstances, be liable for the reasonable fees and expenses of
more than one separate firm of attorneys at any time for such Indemnified
Holders, which firm shall be designated by the Holders.  The Company shall be liable for any
settlement of any such action or proceeding effected with the Company’s prior 

 

 

written consent,
which consent shall not be withheld unreasonably, and the Company agrees to
indemnify and hold harmless any Indemnified Holder from and against any loss,
claim, damage, liability or expense by reason of any settlement of any action
effected with the written consent of the Company.  The Company shall not, without the prior
written consent of each Indemnified Holder, settle or compromise or consent to
the entry of judgment in or otherwise seek to terminate any pending or threatened
action, claim, litigation or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not any Indemnified Holder is
a party thereto), unless such settlement, compromise, consent or termination
includes an unconditional release of each Indemnified Holder from all liability
arising out of such action, claim, litigation or proceeding.

 

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

 

(c)  If the indemnification provided for in this
Section 8 is unavailable to an indemnified party under Section 8(a) or (b)
hereof (other than by reason of exceptions provided in those Sections) in
respect of any losses, claims, damages, liabilities, judgments, actions or
expenses referred to therein, then each applicable indemnifying party, in lieu
of indemnifying such indemnified party, shall contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages,
liabilities or expenses in such proportion as is appropriate to reflect the
relative benefits received by the Company, on the one hand, and the Holders, on
the other hand, from the Initial Placement (which in the case of the Company
shall be deemed to be equal to the total gross proceeds to the Company from the
Initial Placement), the amount of Liquidated Damages which did not become
payable as a result of the filing of the Registration Statement resulting in
such losses, claims, damages, liabilities, judgments actions or expenses, and
such Registration Statement, or if such allocation is not permitted by
applicable law, the relative fault of the Company, on the one hand, and the
Holders, on the other hand, in connection with the statements or omissions
which resulted in such losses, claims, damages, liabilities or expenses, as
well as any other relevant equitable considerations.  The relative fault of the Company on the one
hand and of the Indemnified Holder on the other shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company, on the one hand,
or the Indemnified Holders, on the other hand, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. The amount paid or payable by a party as a result
of the losses, claims,

 

 

damages,
liabilities and expenses referred to above shall be deemed to include, subject
to the limitations set forth in the second paragraph of Section 8(a) hereof,
any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim.

 

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

 

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

 

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

 

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

 

 

Section 12.  Miscellaneous.

 

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

 

(b)  No Inconsistent
Agreements.  The Company will not on or after the
date of this Agreement enter into any agreement with respect to its securities
that is inconsistent with the rights granted to the Holders in this Agreement
or otherwise conflicts with the provisions hereof.  The rights granted to the Holders hereunder
do not in any way conflict with and are not inconsistent with the rights
granted to the holders of the Company’s securities under any agreement in
effect on the date hereof.

 

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

 

(d)  Amendments and
Waivers.  The provisions of
this Agreement may not be amended, modified or supplemented, and waivers or
consents to or departures from the provisions hereof may not be given unless
the Company has (i) in the case of Section 5 hereof and this Section 12(d)(i),
obtained the written consent of Holders of all outstanding Transfer Restricted
Securities and (ii) in the case of all other provisions hereof, obtained the
written consent of Holders of a majority of the outstanding principal amount of
Transfer Restricted Securities affected by such amendment, modification,
supplement, waiver or departure.

 

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

 

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

 

(ii)  if to the Company:

c/o Oak Hill Capital
Partners

65 East 55th Street

36th Floor

New York, New York  10022

Facsimile:  (212) 754-5685

Attention:  Tyler Wolfram

 

 

With a copy to:

Paul, Weiss,
Rifkind, Wharton & Garrison LLP

1285 Avenue of the
Americas

New York, New
York  10019

Facsimile:  212-757-3990

Attention:  John C. Kennedy, Esq.

 

 

All such notices
and communications shall be deemed to have been duly given:  at the time delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage
prepaid, if mailed; when answered back, if telexed; when receipt acknowledged,
if telecopied; and on the next Business Day, if timely delivered to an air
courier guaranteeing overnight delivery.

 

Copies of all such
notices, demands or other communications shall be concurrently delivered by the
Person giving the same to the Trustee at the address specified in the
Indenture.

 

(f)  Successors and
Assigns.  This Agreement shall
inure to the benefit of and be binding upon the successors and assigns of each
of the parties, including, without limitation, and without the need for an express
assignment, Duane Reade, as successor to the Company, and Duane Reade GP as
co-obligor, upon consummation of the Acquisition, and subsequent Holders of
Transfer Restricted Securities; provided, however,
that this Agreement shall not inure to the benefit of or be binding upon a
successor or assign of a Holder unless and to the extent such successor or
assign acquired Transfer Restricted Securities from such Holder.  Nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Transfer Restricted Securities in
violation of the terms of the Purchase Agreement or the Indenture.

 

(g)  Joinder
Agreements.  On the
Acquisition Closing Date, the Company shall cause Duane Reade, Duane Reade GP
and each of the Guarantors to execute a Joinder Agreement. Pursuant to the
Joinder Agreement, Duane Reade, Duane Reade GP and each Guarantor shall agree
to (i) be bound by all covenants, agreements, representations, warranties, and
acknowledgements attributable to the Company (including the Company’s
obligations as an indemnifying party) in this Agreement as if made by, and with
respect to, each party signatory to the Joinder Agreement and (ii) jointly and
severally, perform all obligations and duties required of the Company pursuant
to this Agreement.

 

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

 

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

 

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

 

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

 

(l)  Entire Agreement.  This Agreement together with the
Purchase Agreement, the Indenture, the Securities, the Joinder Agreements and
any related documents is intended by the 

 

 

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

 

 

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

 

DUANE READE ACQUISITION
CORP.

 

 

	
   

  	
  By:

  	
  /s/ Tyler J. Wolfram

  	
   

  
	
   

  	
  Name: 

  	
  Tyler J. Wolfram

  	
   

  
	
   

  	
  Title:

  	
  Vice
  President and Secretary

  	
   

  
					

 

 

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

 

BANC OF AMERICA SECURITIES LLC

CITIGROUP GLOBAL MARKETS INC.

CREDIT SUISSE FIRST
BOSTON LLC

UBS SECURITIES LLC

 

 

	
  By:

  	
  Banc of America
  Securities LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ James D.
  Jeffries

  	
   

  
	
   

  	
  Name:

  	
  James D.
  Jeffries

  
	
   

  	
  Title:

  	
  Managing Director

  
				

 

 

JOINDER
AGREEMENT

 

                                WHEREAS,
Duane Reade Acquisition Corp. (the “Company”), executed and delivered (i) the
Purchase Agreement, dated as of July 23, 2004 (the “Syndicate Purchase
Agreement”), by and among the Initial Purchasers named on Schedule A thereof
(the “Syndicate Initial Purchasers”) and the Company relating to the issuance
and sale of $190,000,000 aggregate principal amount of its 9.75% Senior
Subordinated Notes due 2011 (“Syndicate Notes”) and (ii) the Purchase
Agreement, dated as of July 23, 2004 (the “Investor Purchase Agreement and
together with the Syndicate Purchase Agreement, the “Purchase Agreements”), by
and between Banc of America Securities LLC (the “Investor” and, together with
the Syndicate Initial Purchasers, the “Initial Purchasers”) and the Company,
relating to the issuance and sale of $5,000,000 aggregate principal amount of
Notes (the “Investor Notes” and, together with the Syndicate Notes, the
“Notes”).  All capitalized terms used
herein, but not defined, shall have the meanings assigned thereto in the
Purchase Agreements;

 

                                WHEREAS,
the Company and the Initial Purchasers executed and delivered a Registration
Rights Agreement, providing for the registration of the Notes under the
Securities Act of 1933, as amended;

 

                                WHEREAS,
pursuant to the Purchase Agreements, Duane Reade, Duane Reade GP and each of
the Guarantors, not originally party to the Purchase Agreements, are obligated
to join in the Purchase Agreements and the Registration Rights Agreement upon
consummation of the Merger on terms described below;

 

                                WHEREAS, on the
date hereof, (i) Duane Reade shall execute the Successor Supplemental
Indenture, pursuant to which it will assume all the obligations of the Company
under the Notes and the Indenture as successor in the Merger, (ii) Duane Reade
GP shall execute the Co-Obligor Supplemental Indenture, pursuant to which it
will agree to become a co-obligor with Duane Reade of all the obligations under
the Notes and the Indenture and (iii) each of the Guarantors shall execute a
Guarantor Supplemental Indenture, pursuant to which each of the Guarantors will
guarantee all the obligations of the Duane Reade and Duane Reade GP under the
Notes and the Indenture;

 

                                NOW,
THEREFORE, each of Duane Reade, Duane Reade GP and the Guarantors hereby agrees
for the benefit of the Initial Purchasers, as follows:

 

(a)           Each of the undersigned hereby
acknowledges that it has received and reviewed a copy of each of the Purchase
Agreements, the Registration Rights Agreement and all other documents it deems
fit to enter into these Agreements, and acknowledges and agrees to (i) join and
become a party to each of the Purchase Agreements and the Registration Rights
Agreement as indicated by its signature below; (ii) be bound by all covenants,
agreements, representations,

 

 

warranties and
acknowledgments attributable to an indemnifying party in each of the Purchase
Agreements and the Registration Rights Agreement as if made by, and with
respect to, each signatory hereto; and (iii) jointly and severally, perform all
obligations and duties required of the Company pursuant to the Purchase
Agreements and the Registration Rights Agreement.

 

(b)           Each of the undersigned hereby
represents and warrants to and agrees with the Initial Purchasers that it has
all the requisite corporate or partnership power and authority and the legal
right to execute, deliver and perform its obligations under this Joinder
Agreement, that performance of this Joinder Agreement does not and will not
violate (i) any provisions of its charter, by-laws or other similar document,
or (ii) any contractual obligations binding on it, except, in the case of this
clause (ii), for such violations as would not, individually or in the
aggregate, result in a Material Adverse Change; and that when this Joinder
Agreement is executed and delivered, it will constitute a valid and legally
binding agreement enforceable against each of the undersigned in accordance
with its terms, except as the enforcement thereof may be subject to bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting creditors’ rights generally and subject to general
principles of equity (regardless of whether enforceability is considered in a
proceeding in equity or at law) and except as rights to indemnification under
the Purchase Agreements or the Registration Rights Agreement may be limited by
applicable law.

 

                                THE
VALIDITY AND INTERPRETATION OF THIS JOINDER AGREEMENT, AND THE TERMS AND
CONDITIONS SET FORTH HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE
PERFORMED ENTIRELY WITHIN SUCH STATE.

 

2

 

                                IN
WITNESS WHEREOF, the undersigned have executed this agreement this 30th
day of July, 2004.

 

	
   

  	
  Duane Reade Inc. (as successor by merger to

  
	
   

  	
  Duane Reade Acquisition Corp.), a

  
	
   

  	
  Delaware corporation

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Michelle
  D. Bergman

  	
   

  
	
   

  	
  Name:

  	
  Michelle D. Bergman

  	
   

  
	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Duane Reade, a New York
  general

  partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Duane Reade Inc., as
  General Partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Michelle
  D. Bergman

  	
   

  
	
   

  	
  Name:

  	
  Michelle D. Bergman

  	
   

  
	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DRI I Inc., a Delaware
  corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Michelle
  D. Bergman

  	
   

  
	
   

  	
  Name:

  	
  Michelle D. Bergman

  	
   

  
	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Duane Reade
  International, Inc., a Delaware

  corporation

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Michelle
  D. Bergman

  	
   

  
	
   

  	
  Name:

  	
  Michelle D. Bergman

  	
   

  
	
   

  	
  Title:

  	
  Secretary

  	
   

  
					

 

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Duane Reade Realty,
  Inc., a Delaware

  corporation

   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/  Michelle
  D. Bergman

  	
   

  
	
   

  	
  Name:

  	
  Michelle D. Bergman

  	
   

  
	
   

  	
  Title:

  	
  Assistant Secretary

  	
   

  
					

 

2Exhibit 4.9

 

 

DUANE
READE INC.

 

Senior Convertible
Notes due 2022

 

 

 

FIRST
SUPPLEMENTAL INDENTURE

 

Dated as of July 30,
2004

 

Supplementing the
Indenture, dated as of April 16, 2002,
 among Duane Reade Inc., as Issuer, 

the Guarantors named therein

and

U.S. Bank National Association, successor trustee to 

State Street Bank and Trust Company, as Trustee

 

 

 

U.S. BANK
NATIONAL ASSOCIATION,

as
Trustee

 

 

 

FIRST SUPPLEMENTAL INDENTURE, dated as of July 30,
2004 (this “First Supplemental Indenture”), by and among Duane Reade
Inc., a Delaware Corporation, as Issuer, having its principal office at 440
Ninth Avenue, Sixth Floor, New York, NY, 10001 
(the “Company”), Duane Reade Shareholders, LLC (formerly known as
Rex Corner Holdings, LLC), a Delaware limited liability company (the “Parent”),
Duane Reade Acquisition Corp., a Delaware corporation (the “MergerSub”),
with Duane Reade, a New York general partnership, DRI I Inc., a Delaware
corporation, Duane Reade International, Inc., a Delaware corporation and Duane
Reade Realty, Inc., a Delaware corporation, as guarantors (together, the “Guarantors”),
and U.S. Bank National Association, a national banking association, successor
trustee to State Street Bank and Trust Company, as trustee under the Indenture
referred to below (the “Trustee”). Capitalized terms used but not
otherwise defined herein shall have the respective meanings ascribed to such
terms in the Indenture (as defined below).

 

W I T N E S S E T H

 

WHEREAS, the Company, the Guarantors and the Trustee executed
and delivered an Indenture, dated as of April 16, 2002 (the “Indenture”)
providing for the issuance of Senior Convertible Notes due 2022 (the “Securities”);

 

WHEREAS, the MergerSub, the Parent and the Company
entered into an Agreement and Plan of Merger, dated as of December 22, 2003, as
amended, pursuant to which the MergerSub has merged with and into the Company,
with the Company as the surviving corporation (the “Merger”);

 

WHEREAS, pursuant to Section 11.14 of the Indenture, if
the Company is party to a merger, the Person obligated to deliver securities,
cash or other assets upon conversion of Securities shall enter into a
supplemental indenture;

 

WHEREAS, pursuant to Section 11.14 of the Indenture,
the First Supplemental Indenture shall provide that the Holder of a Security
may convert such Security into the kind and amount of consideration such Holder
would have received immediately after the Merger if such Holder had converted
the Security immediately before the effective date of the Merger;

 

WHEREAS, pursuant to Section 9.01 of the Indenture,
the Company may amend the Indenture without the consent of any Securityholders
to evidence, among other things, the merger of the Company with or into another
corporation and compliance by the parties to such merger with Section 11.14 of
the Indenture;

 

WHEREAS, the consideration paid per share of the
Company’s Common Stock in connection with the Merger was $16.50 in cash,
without interest; and

 

WHEREAS, the entry into this First Supplemental
Indenture by the parties hereto is in all respects authorized by the provisions
of the Indenture, and all things necessary to make this First Supplemental
Indenture a valid agreement of the Company in accordance with its terms have
been done.

 

1

 

NOW THEREFORE, in consideration of the foregoing and
for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Company, the Parent and the Trustee mutually covenant and
agree as follows:

 

1.             Effect. This First Supplemental Indenture shall
become effective upon its execution and delivery by the parties hereto.

 

2.             Right to Receive $16.50 per Share.  Upon the conversion of a Security by the
Holder thereof pursuant to the Indenture, such Security shall convert into the
right to receive from the Company $16.50 per share of Common Stock, in cash and
without interest, issuable to such Holder in connection with such conversion
assuming (to the extent applicable) that such Holder (i) was not a constituent
Person or an Affiliate of a constituent Person to the merger; (ii) made no
election with respect thereto; and (iii) was treated alike with the plurality
of non-electing holders.  Pursuant to
Section 11.10 of the Indenture, no adjustments shall be made on any Holder’s
right to receive $16.50 in cash and interest will not accrue on the cash.

 

3.             Responsibility of Trustee.  The Trustee shall not be responsible for the
validity as to the Company or sufficiency of this First Supplemental Indenture
or as to the due execution thereof by the Company, the Parent, the MergerSub and
the Guarantors or as to recitals of fact contained herein, all of which are
made solely by the Company.

 

4.             Governing Law. 
The laws of the State of New York shall govern this First Supplemental
Indenture.

 

5.             Multiple Originals.  The parties may sign any number of copies of
this First Supplemental Indenture. Each signed copy shall be an original, but
all of them together shall represent the same agreement. One originally signed
copy is enough to prove this First Supplemental Indenture.

 

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

 

7.             Part of Indenture.  This First Supplemental Indenture shall form
a part of the Indenture for all purposes and every holder of Securities
heretofore or hereafter authenticated and delivered shall be bound hereby.

 

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

 

 

[Remainder of page
intentionally left blank.]

 

2

 

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

 

	
   

  	
  DUANE READE INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DUANE READE SHAREHOLDERS, LLC

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Andrew J. Nathanson

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Andrew J. Nathanson

  
	
   

  	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DUANE READE ACQUISITION CORP.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Andrew J. Nathanson

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Andrew J. Nathanson

  
	
   

  	
   

  	
   

  	
  Title: Vice President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DUANE READE

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:  DUANE
  READE INC., a general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:  DRI I
  INC., a general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
						

 

3

 

	
   

  	
  DRI I, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DUANE READE INTERNATIONAL, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  DUANE READE REALTY, INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Michelle D. Bergman

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Michelle D. Bergman

  
	
   

  	
   

  	
   

  	
  Title: Vice President and General

  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ Elizabeth C. Hammer

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Elizabeth C. Hammer

  
	
   

  	
   

  	
   

  	
  Title: Vice President

  
						

 

4

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