Exhibit
4.2
Execution Copy
HUNTSMAN INTERNATIONAL LLC
$200,000,000 7 7/8% Senior Subordinated Notes due
2014
guaranteed on a senior subordinated basis as to
the
payment of principal, premium,
if any, and interest by
AIRSTAR CORPORATION
EUROFUELS LLC
EUROSTAR INDUSTRIES LLC
HUNTSMAN EA HOLDINGS LLC
HUNTSMAN ETHYLENEAMINES LTD.
HUNTSMAN INTERNATIONAL FINANCIAL LLC
HUNTSMAN INTERNATIONAL FUELS, L.P.
HUNTSMAN PROPYLENE OXIDE HOLDINGS LLC
HUNTSMAN PROPYLENE OXIDE LTD.
HUNTSMAN TEXAS HOLDINGS LLC
HUNTSMAN ADVANCED MATERIALS AMERICAS INC.
HUNTSMAN ADVANCED MATERIALS HOLDINGS LLC
HUNTSMAN ADVANCED MATERIALS LLC
HUNTSMAN AUSTRALIA INC.
HUNTSMAN CHEMICAL COMPANY LLC
HUNTSMAN CHEMICAL FINANCE CORPORATION
HUNTSMAN CHEMICAL PURCHASING CORPORATION
HUNTSMAN ENTERPRISES, INC.
HUNTSMAN EXPANDABLE POLYMERS COMPANY, LC
HUNTSMAN FAMILY CORPORATION
HUNTSMAN FUELS, L.P.
HUNTSMAN GROUP HOLDINGS FINANCE CORPORATION
HUNTSMAN GROUP INTELLECTUAL PROPERTY HOLDINGS
CORPORATION
HUNTSMAN HEADQUARTERS CORPORATION
HUNTSMAN INTERNATIONAL CHEMICALS CORPORATION
HUNTSMAN INTERNATIONAL SERVICES CORPORATION
HUNTSMAN INTERNATIONAL TRADING CORPORATION
HUNTSMAN MA INVESTMENT CORPORATION
HUNTSMAN MA SERVICES CORPORATION
HUNTSMAN PETROCHEMICAL CANADA HOLDINGS CORPORATION
HUNTSMAN PETROCHEMICAL CORPORATION
HUNTSMAN PETROCHEMICAL FINANCE CORPORATION
HUNTSMAN PETROCHEMICAL PURCHASING CORPORATION
HUNTSMAN POLYMERS CORPORATION
HUNTSMAN POLYMERS HOLDINGS CORPORATION
HUNTSMAN PROCUREMENT CORPORATION
HUNTSMAN PURCHASING, LTD.
JK HOLDINGS CORPORATION
PETROSTAR FUELS LLC
PETROSTAR INDUSTRIES LLC
POLYMER MATERIALS INC.
TIOXIDE AMERICAS
INC.
TIOXIDE GROUP
Exchange and Registration Rights Agreement
2
November 13, 2006
Deutsche Bank Securities
Inc.
Credit Suisse Securities (USA) LLC
Citigroup Global Markets Inc.
Wachovia Capital Markets, LLC
c/o Deutsche Bank
Securities Inc.
60 Wall Street
New York, New York 10005
Ladies and Gentlemen:
Huntsman International LLC, a Utah limited liability
company (the Company), proposes to issue and sell to the Purchasers
(as defined herein) upon the terms set forth in the Purchase Agreement (as
defined herein) $200,000,000 aggregate principal amount of the Companys 7 7/8%
Senior Subordinated Notes due 2014 (the Notes), which are guaranteed
on a senior subordinated basis by each of the guarantors listed on Schedule I
hereto.
Pursuant to the Purchase
Agreement and in satisfaction of a condition to the obligations of the
Purchasers thereunder, the Company and the Guarantors agree with the Purchasers
for the benefit of holders (as defined herein) from time to time of the
Registrable Securities (as defined herein) as follows:
1. Certain Definitions. For purposes of this Exchange and
Registration Rights Agreement, the following terms shall have the following
respective meanings:
Base Interest shall mean the interest that
would otherwise accrue on the Securities under the terms thereof and the
Indenture, without giving effect to the provisions of this Exchange and
Registration Rights Agreement.
broker-dealer shall mean any broker or dealer
registered with the Commission under the Exchange Act.
Closing Date shall mean the date on which the
Securities are initially issued.
Commission shall mean the United States
Securities and Exchange Commission, or any other federal agency at the time
administering the Exchange Act or the Securities Act, whichever is the relevant
statute for the particular purpose.
Effective Time in the case of (i) an Exchange
Registration, shall mean the time and date as of which the Commission declares
the Exchange Registration Statement effective or as of which the Exchange
Registration Statement otherwise becomes effective and (ii) a Shelf
Registration, shall mean the time and date as of which the
3
Commission
declares the Shelf Registration Statement effective or as of which the Shelf
Registration Statement otherwise becomes effective.
Electing Holder shall mean any holder of
Registrable Securities that has returned a completed and signed Notice and
Questionnaire to the Company in accordance with Section 3(d)(ii) or 3(d)(iii)
hereof.
Exchange Act shall mean the Securities
Exchange Act of 1934, or any successor thereto, as the same shall be amended
from time to time.
Exchange Offer shall have the meaning
assigned thereto in Section 2(a) hereof.
Exchange Registration shall have the meaning
assigned thereto in Section 3(c) hereof.
Exchange Registration Statement shall have
the meaning assigned thereto in Section 2(a) hereof.
Exchange Securities shall have the meaning
assigned thereto in Section 2(a) hereof.
Guarantee shall have the meaning assigned
thereto in the Indenture.
Guarantor shall have the meaning assigned
thereto in the Indenture.
holder shall mean each of the Purchasers and
other persons who acquire Registrable Securities from time to time (including
any successors or assigns), in each case for so long as such person owns any
Registrable Securities.
Indenture shall mean the Indenture, dated as
of November 13, 2006, between the Company, the Guarantors and Wells Fargo
Bank, National Association, as Trustee, as the same shall be amended from time
to time relating to the Securities.
Notes shall have the meaning assigned thereto
in the introductory paragraphs to this Exchange and Registration Rights
Agreement.
Notice and Questionnaire means a Notice of
Registration Statement and Selling Securityholder Questionnaire substantially
in the form of Exhibit A hereto.
person shall mean a corporation, association,
partnership, limited liability company, organization, business, individual,
government or political subdivision thereof or governmental agency.
Purchase Agreement shall mean the Purchase
Agreement, dated as of October 31, 2006, among the Purchasers, the Guarantors
and the Company relating to the Securities.
4
Purchasers shall mean the Purchasers named in
Schedule I to the Purchase Agreement.
Registrable Securities shall mean the
Securities; provided, however, that a Security shall
cease to be a Registrable Security when (i) in the circumstances contemplated
by Section 2(a) hereof, the Security has been exchanged for an Exchange Security
in an Exchange Offer as contemplated in Section 2(a) hereof (provided that any Exchange Security that, pursuant to the
last two sentences of Section 2(a), is included in a prospectus for use in
connection with resales by broker-dealers shall be deemed to be a Registrable
Security with respect to Sections 5, 6 and 9 until resale of such Security has
been effected within the 120-day period referred to in Section 2(a)); (ii) in
the circumstances contemplated by Section 2(b) hereof, a Shelf Registration
Statement registering such Security under the Securities Act has been declared
or becomes effective and such Security has been sold or otherwise transferred
by the holder thereof pursuant to and in a manner contemplated by such
effective Shelf Registration Statement; (iii) such Security is sold pursuant to
Rule 144 under circumstances in which any legend borne by such Security
relating to restrictions on transferability thereof, under the Securities Act
or otherwise, is removed by the Company or pursuant to the Indenture; (iv) such
Security is eligible to be sold pursuant to paragraph (k) of Rule 144; or
(v) such Security shall cease to be outstanding.
Registration Default shall have the meaning
assigned thereto in Section 2(c) hereof.
Registration Default Period shall have the
meaning assigned thereto in Section 2(c) hereof.
Registration Expenses shall have the meaning
assigned thereto in Section 4 hereof.
Resale Period shall have the meaning assigned
thereto in Section 2(a) hereof.
Restricted Holder shall mean (i) a holder
that is an affiliate of the Company within the meaning of Rule 405, (ii) a
holder who acquires Exchange Securities outside the ordinary course of such
holders business, (iii) a holder who has arrangements or understandings with
any person to participate in the Exchange Offer for the purpose of distributing
Exchange Securities and (iv) a holder that is a broker-dealer, but only with
respect to Exchange Securities received by such broker-dealer pursuant to an
Exchange Offer in exchange for Registrable Securities acquired by the
broker-dealer directly from the Company.
Rule 144, Rule 405 and Rule 415 shall
mean, in each case, such rule promulgated under the Securities Act (or any successor
provision), as the same shall be amended from time to time.
Securities shall mean the Notes of the
Company to be issued and sold to the Purchasers pursuant to the Purchase
Agreement, and securities issued in exchange therefor or in lieu thereof pursuant
to the Indenture (other than Exchange Securities).
5
Each
Security is entitled to the benefit of the Guarantee provided for in the
Indenture and, unless the context otherwise requires, any reference herein to a
Security, an Exchange Security or a Registrable Security shall include a
reference to the related Guarantee.
Securities Act shall mean the Securities Act
of 1933, or any successor thereto, as the same shall be amended from time to
time.
Shelf Registration shall have the meaning
assigned thereto in Section 2(b) hereof.
Shelf Registration Statement shall have the
meaning assigned thereto in Section 2(b) hereof.
Special Interest shall have the meaning
assigned thereto in Section 2(c) hereof.
Trustee shall have the meaning assigned
thereto in the Indenture.
Trust Indenture Act shall mean the Trust
Indenture Act of 1939, or any successor thereto, and the rules, regulations and
forms promulgated thereunder, all as the same shall be amended from time to
time.
Unless the context otherwise
requires, any reference herein to a Section or clause refers to a Section
or clause, as the case may be, of this Exchange and Registration Rights
Agreement, and the words herein, hereof and hereunder and other words of
similar import refer to this Exchange and Registration Rights Agreement as a
whole and not to any particular Section or other subdivision.
2. Registration Under the Securities Act.
(a) Except
as set forth in Section 2(b) below, the Company agrees to use its reasonable
best efforts to file under the Securities Act a registration statement relating
to offers to exchange (such registration statement, the Exchange
Registration Statement, and such offers, collectively, the Exchange
Offer) any and all of the Registrable Securities for a like aggregate
principal amount of debt securities issued by the Company and guaranteed by the
Guarantors, which debt securities and guarantee are substantially identical to
the Securities and the related Guarantees, respectively (and are entitled to
the benefits of a trust indenture which is substantially identical to the
Indenture and which has been qualified under the Trust Indenture Act), except
that they have been registered pursuant to an effective registration statement
under the Securities Act and do not contain provisions for registration rights
or the Special Interest contemplated in Section 2(c) below (such new debt
securities and guarantee hereinafter called Exchange Securities). The Company agrees to use its reasonable best
efforts to cause the Exchange Registration Statement to become effective under
the Securities Act no later than July 13, 2008.
The Exchange Offer will be registered under the Securities Act on the
appropriate form and will comply with all applicable tender offer rules and
regulations under the Exchange Act. The
Company further agrees to use its reasonable best efforts to commence and
complete the Exchange Offer within 45 days after the date the Exchange
Registration Statement is declared effective by the Commission, hold the
Exchange Offer open for at least 20 days (or longer if required by applicable
law) and exchange Exchange
Securities for all Registrable
6
Securities that have been properly tendered
and not withdrawn on or prior to the expiration of the Exchange Offer. The Exchange Offer will be deemed to have
been completed only if the debt securities and
related guarantee received by holders other than Restricted Holders in the
Exchange Offer for Registrable Securities are, upon receipt, transferable by
each such holder without restriction under the Securities Act and without
material restrictions under the blue sky or securities laws of a substantial
majority of the States of the United States of America, it being understood
that broker-dealers receiving Exchange Notes will be subject to certain
prospectus delivery requirements with respect to resale of the Exchange
Notes. The Exchange Offer shall be
deemed to have been completed upon the earlier to occur of (i) the Company
having exchanged the Exchange Securities for all outstanding Registrable
Securities pursuant to the Exchange Offer and (ii) the Company having
exchanged, pursuant to the Exchange Offer, Exchange Securities for all
Registrable Securities that have been properly tendered and not withdrawn before
the expiration of the Exchange Offer, which shall be on a date that is at least
20 days following the commencement of the Exchange Offer. The Company agrees (x) to include in the
Exchange Registration Statement a prospectus for use in any resales by any
holder of Exchange Securities that is a broker-dealer and (y) to keep
such Exchange Registration Statement effective for a period (the Resale
Period) beginning when Exchange Securities are first issued in the
Exchange Offer and ending upon the earlier of the expiration of the 120th day
after the Exchange Offer has been completed or such time as such broker-dealers
no longer own any Registrable Securities.
With respect to such Exchange Registration Statement, such holders shall
have the benefit of the rights of indemnification and contribution set forth in
Sections 6(a), (c), (d) and (e) hereof.
Each holder that
participates in the Exchange Offer will be required, as a condition to its
participation in the Exchange Offer, to represent to the Company in writing
(which may be contained in the applicable letter of transmittal) (i) that any
Exchange Securities to be received by it will be acquired in the ordinary
course of its business, (ii) that at the time of the commencement of the
Exchange Offer, such holder has no arrangement or understanding with any Person
to participate in the distribution (within the meaning of the Securities Act)
of the Exchange Securities in violation of the Securities Act, (iii) that such
holder is not an affiliate of the Company as such term is defined in Rule 405
promulgated under the Securities Act, (iv) if such holder is a broker-dealer,
that it is not engaged in, and does not intend to engage in, the distribution
of Exchange Notes; and (v) if such holder is a broker-dealer that will receive
Exchange Securities for its own account in exchange for Securities that were
acquired as a result of market-making or other trading activities (an Exchanging
Dealer), that it will deliver a prospectus in connection with the resale
of such Exchange Securities. A
broker-dealer that is not able to make the representation in clause (v) above
will not be permitted to participate in the Exchange Offer.
(b) If
on or prior to the time the Exchange Offer is completed, any law or the
existing Commission interpretations are changed such that (i) the debt
securities or the related guarantee received by holders other than Restricted
Holders in the Exchange Offer for Registrable Securities are not or would not
be, upon receipt, transferable by each such holder without restriction under
the Securities Act, (ii) for any other reason the Exchange Offer has not been
completed within 45 days after July 13, 2008 or (iii) the Exchange Offer is not
available to any holder of the Securities by reason of U.S. law or Commission
policy (other than due solely to the status of such holder as an affiliate of
the Company within the meaning of the Securities
7
Act or as an Exchanging Dealer), the Company
shall, in lieu of (or, in the case of clause (iii), in addition to) conducting
the Exchange Offer contemplated by Section 2(a), file under the Securities Act
as soon as practicable, but no later than the later of 75 days after the time
such obligation to file arises, a shelf registration statement providing for
the registration of, and the sale on a continuous or delayed basis by the
holders of, all of the Registrable Securities, pursuant to Rule 415 or any
similar rule that may be adopted by the Commission (such filing, the Shelf
Registration and such registration statement, the Shelf Registration
Statement). The Company agrees to
use its reasonable best efforts (x) to cause the Shelf Registration Statement
to become or be declared effective and to keep such Shelf Registration
Statement continuously effective for a period ending on the earlier of the
second anniversary of the Effective Time or such time as there are no longer
any Registrable Securities outstanding; provided,
however, that (I) no holder shall
be entitled to be named as a selling securityholder in the Shelf Registration
Statement or to use the prospectus forming a part thereof for resales of
Registrable Securities unless such holder is an Electing Holder and (II) the
Company shall be permitted to take any action that would suspend the
effectiveness of a Shelf Registration Statement or result in holders covered by
a Shelf Registration Statement not being able to offer and sell such Securities
if (i) such action is required by law or (ii) such action is taken by the
Company in good faith and for valid business reasons involving a material
undisclosed event, and (y) after the Effective Time of the Shelf Registration
Statement, within 30 days following the request of any holder of Registrable
Securities that is not then an Electing Holder, to take any action reasonably
necessary to enable such holder to use the prospectus forming a part thereof
for resales of Registrable Securities, including, without limitation, any
action necessary to identify such holder as a selling securityholder in the
Shelf Registration Statement; provided,
however, that nothing in this clause (y) shall relieve any such
holder of the obligation to return a completed and signed Notice and
Questionnaire to the Company in accordance with Section 3(d)(iii) hereof. The Company further agrees to supplement or
make amendments to the Shelf Registration Statement, as and when required by
the rules, regulations or instructions applicable to the registration form used
by the Company for such Shelf Registration Statement or by the Securities Act or
rules and regulations thereunder for shelf registration, and the Company agrees
to furnish to each Electing Holder copies of any such supplement or amendment
prior to its being used or promptly following its filing with the Commission.
(c) In
the event that (i) the Exchange Registration Statement or Shelf Registration
Statement has not become effective or been declared effective by the Commission
on or before the date on which such registration statement is required to
become or be declared effective pursuant to Section 2(a) or 2(b), respectively,
or (ii) the Exchange Offer has not been completed within 45 business days after
the initial effective date of the Exchange Registration Statement relating to
the Exchange Offer (if the Exchange Offer is then required to be made) or (iii)
any Exchange Registration Statement or Shelf Registration Statement required by
Section 2(a) or 2(b) hereof is filed and declared effective but shall
thereafter either be withdrawn by the Company or shall become subject to an
effective stop order issued pursuant to Section 8(d) of the Securities Act
suspending the effectiveness of such registration statement (except as
specifically permitted herein) without being succeeded immediately by an
additional registration statement filed and declared effective (each such event
referred to in clauses (i) through (iv), a Registration Default and
each period during which a Registration Default has occurred and is continuing,
a Registration Default Period), then, as liquidated damages for such
Registration Default, subject to the provisions of Section 9(b), special interest
(Special Interest), in addition
8
to the Base Interest, shall accrue at a per
annum rate of 0.125% for the first 90 days of the Registration Default Period,
at a per annum rate of 0.25% for the second 90 days of the Registration Default
Period, at a per annum rate of 0.375% for the third 90 days of the Registration
Default Period and at a per annum rate of 0.5% thereafter for the remaining
portion of the Registration Default Period; provided,
however, that Special Interest shall not accrue if the failure of
the Company to comply with its obligations hereunder is a result of the failure
of any of the holders, underwriters, Purchasers or placement or sales agents to
fulfill their respective obligations hereunder; and provided, further,
Special Interest shall only accrue until, but excluding, the earlier of (1) the
date on which such Registration Default has been cured or (2) the date on which
the Securities accruing such Special Interest cease to be Registrable
Securities. Special Interest accrued for
any period shall be payable at the relevant interest payment date for such
period under the terms of the applicable series of Securities.
(d) Notwithstanding
the foregoing: (1) the amount of Special Interest that accrues will not
increase because more than one Registration Default has occurred and is
pending; (2) a holder of Registrable Securities or Exchange Securities who is
not entitled to the benefits of the Shelf Registration Statement (including,
but not limited to any such holder who has not returned a completed and signed
Notice and Questionnaire to the Company in accordance with Section 3(d)(iii)
hereof) will not be entitled to Special Interest with respect to a Registration
Default that pertains to the Shelf Registration Statement; and (3) a holder of
Registrable Securities constituting an unsold allotment from the original sale
of the notes or who otherwise is not entitled to participate in the Exchange
Offer will not be entitled to the accrual of Special Interest by reason of a
Registration Default that pertains to the Exchange Offer.
(e) The
Company shall take, and shall cause the Guarantors to take, all actions
necessary or advisable to be taken by it to ensure that the transactions
contemplated herein are effected as so contemplated, including all actions
necessary or desirable to register the Guarantees under the registration
statement contemplated in Section 2(a) or 2(b) hereof, as applicable.
(f) Any
reference herein to a registration statement as of any time shall be deemed to
include any document incorporated, or deemed to be incorporated, therein by
reference as of such time and any reference herein to any post-effective
amendment to a registration statement as of any time shall be deemed to include
any document incorporated, or deemed to be incorporated, therein by reference
as of such time.
3. Registration Procedures.
If the Company files a
registration statement pursuant to Section 2(a) or Section 2(b), the following
provisions shall apply:
(a) At or before the
Effective Time of the Exchange Offer or the Shelf Registration, as the case may
be, the Company shall qualify the Indenture under the Trust Indenture Act.
9
(b) In the event that such
qualification would require the appointment of a new trustee under the
Indenture, the Company shall appoint a new trustee thereunder pursuant to the
applicable provisions of the Indenture.
(c) In connection with
the Companys obligations with respect to the registration of Exchange
Securities as contemplated by Section 2(a) (the Exchange Registration),
if applicable, the Company shall, as soon as reasonably practicable (or as
otherwise specified):
(i)
use its reasonable best efforts to prepare and file with the Commission
an Exchange Registration Statement on any form which may be utilized by the
Company and which shall permit the Exchange Offer and resales of Exchange
Securities by broker-dealers during the Resale Period to be effected as
contemplated by Section 2(a), and use its best reasonable efforts to cause such
Exchange Registration Statement to become effective no later than July 13,
2008;
(ii)
after the Effective Time of the Exchange Registration Statement, except
as permitted hereunder, prepare and file with the Commission such amendments
and supplements to such Exchange Registration Statement and the prospectus
included therein as may be necessary to effect and maintain the effectiveness
of such Exchange Registration Statement for the periods and purposes contemplated
in Section 2(a) hereof and as may be required by the applicable rules and
regulations of the Commission and the instructions applicable to the form of
such Exchange Registration Statement, and promptly provide each broker-dealer
holding Exchange Securities with such number of copies of the prospectus
included therein (as then amended or supplemented), in conformity in all
material respects with the requirements of the Securities Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder, as
such broker-dealer may reasonably request prior to the expiration of the Resale
Period, for use in connection with resales of Exchange Securities;
(iii)
after the Effective Time of the Exchange Registration Statement and
during the Resale Period promptly notify each broker-dealer that has requested
copies of the prospectus included in such registration statement, and confirm
such advice in writing, (A) with respect to such Exchange Registration
Statement or any post-effective amendment, when the same has become effective,
(B) of the issuance by the Commission of any stop order suspending the
effectiveness of such Exchange Registration Statement or the initiation or
threatening of any proceedings for that purpose, (C) of the receipt by the
Company of any notification with respect to the suspension of the qualification
of the Exchange Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose, or (D) at any time during the
Resale Period when a prospectus is required to be delivered under the
Securities Act, that such Exchange Registration Statement, prospectus,
prospectus amendment or supplement or post-effective amendment does not
conform in all material respects to the applicable requirements of the
Securities Act and the Trust Indenture Act and the rules and regulations of the
Commission thereunder or contains an untrue
10
statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing, which such notice, in
the case of clauses (B), (C) and (D) shall require any broker-dealer to suspend
the use of such prospectus until further notice;
(iv)
in the event that the Company would be required, pursuant to Section
3(c)(iii)(D) above, to notify any broker-dealers holding Exchange Securities,
prepare and furnish to each such holder a reasonable number of copies of a
prospectus supplemented or amended so that, as thereafter delivered to
purchasers of such Exchange Securities during the Resale Period, such prospectus
shall conform in all material respects to the applicable requirements of the
Securities Act and the Trust Indenture Act and the rules and regulations of the
Commission thereunder and shall not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the
circumstances then existing; provided, however,
the Company shall not be required to amend or supplement such prospectus if (i)
not permitted by law or (ii) the Company in good faith and for valid business
reasons determines that to do so would involve disclosing a material undisclosed
event;
(v)
use its reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of such Exchange Registration Statement or any
post-effective amendment thereto at the earliest practicable date unless
the Company in good faith and for valid business reasons determines that to do
so would involve disclosing a material undisclosed event;
(vi)
use its reasonable best efforts to (A) register or qualify the Exchange
Securities under the securities laws or blue sky laws of such jurisdictions as
are contemplated by Section 2(a) no later than the commencement of the Exchange
Offer, (B) keep such registrations or qualifications in effect and comply with
such laws so as to permit the continuance of offers, sales and dealings therein
in such jurisdictions until the expiration of the Resale Period and (C) take
any and all other actions as may be reasonably necessary or advisable to enable
each broker-dealer holding Exchange Securities to consummate the disposition
thereof in such jurisdictions; provided, however,
that neither the Company nor the Guarantors shall be required for any such
purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it
would not otherwise be required to qualify but for the requirements of this
Section 3(c)(vi), (2) consent to general service of process or taxation in any
such jurisdiction or (3) make any changes to its incorporating documents or
limited liability agreement or any other agreement between it and its
stockholders or members;
(vii)
provide an ISIN and a CUSIP number for all Exchange Securities, not
later than the applicable Effective Time; and
11
(viii)
comply with all applicable rules and regulations of the Commission, and
make generally available to its securityholders as soon as practicable but no
later than 18 months after the effective date of such Exchange Registration
Statement, an earning statement of the Company and its subsidiaries complying
with Section 11(a) of the Securities Act (including, at the option of the
Company, Rule 158 thereunder).
(d) In connection with the
Companys obligations with respect to the Shelf Registration, if applicable,
the Company shall, as soon as reasonably practicable (or as otherwise specified):
(i)
prepare and file with the Commission, as soon as reasonably practicable
but in any case within the time periods specified in Section 2(b), a Shelf
Registration Statement on any form which may be utilized by the Company and
which shall register all of the Registrable Securities for resale by the holders
thereof in accordance with such method or methods of disposition as may be
specified by such of the holders as, from time to time, may be Electing Holders
and use its reasonable best efforts to cause such Shelf Registration Statement
to become effective as soon as reasonably practicable but in any case within
the time periods specified in Section 2(b);
(ii)
prior to the Effective Time of the Shelf Registration Statement, mail
the Notice and Questionnaire to the holders of Registrable Securities; no
holder shall be entitled to be named as a selling securityholder in the Shelf
Registration Statement as of the Effective Time, and no holder shall be
entitled to use the prospectus forming a part thereof for resales of
Registrable Securities at any time, unless such holder has returned a completed
and signed Notice and Questionnaire to the Company by the deadline for response
set forth therein; provided, however,
holders of Registrable Securities shall have at least 28 calendar days from the
date on which the Notice and Questionnaire is first mailed to such holders to
return a completed and signed Notice and Questionnaire to the Company;
(iii)
after the Effective Time of the Shelf Registration Statement, upon the
request of any holder of Registrable Securities that is not then an Electing
Holder, promptly send a Notice and Questionnaire to such holder; provided that the Company shall not be required to take any
action to name such holder as a selling securityholder in the Shelf
Registration Statement or to enable such holder to use the prospectus forming a
part thereof for resales of Registrable Securities until such holder has
returned a completed and signed Notice and Questionnaire to the Company;
(iv)
after the Effective Time of the Shelf Registration Statement, except as
permitted hereunder, as soon as reasonably practicable prepare and file with
the Commission such amendments and supplements to such Shelf Registration
Statement and the prospectus included therein as may be necessary to effect and
maintain the effectiveness of such Shelf Registration Statement for the
12
period specified in Section 2(b) hereof and as may be required by the
applicable rules and regulations of the Commission and the instructions
applicable to the form of such Shelf Registration Statement, and furnish to the
Electing Holders copies of any such supplement or amendment simultaneously with
or prior to its being used or filed with the Commission;
(v)
comply with the provisions of the Securities Act with respect to the
disposition of all of the Registrable Securities covered by such Shelf
Registration Statement in accordance with the intended methods of disposition
by the Electing Holders provided for in such Shelf Registration Statement;
(vi)
provide (A) the Electing Holders, (B) the underwriters (which term, for
purposes of this Exchange and Registration Rights Agreement, shall include a
person deemed to be an underwriter within the meaning of Section 2(a)(11) of
the Securities Act), if any, thereof, (C) any sales or placement agent, if any,
therefor, (D) counsel for any such underwriter or agent and (E) not more than
one counsel for all the Electing Holders a copy of such Shelf Registration
Statement, each prospectus included therein or filed with the Commission and
each amendment or supplement thereto;
(vii)
for a reasonable period prior to the filing of such Shelf Registration
Statement, and throughout the period specified in Section 2(b), make available
at reasonable times at the Companys principal place of business or such other
reasonable place for inspection by the persons referred to in Section 3(d)(vi)
above who shall certify to the Company that they have a current intention to
sell the Registrable Securities pursuant to the Shelf Registration such
financial and other information and books and records of the Company, and cause
the officers, employees, counsel and independent certified public accountants
of the Company to respond to such inquiries, as shall be reasonably necessary,
in the reasonable judgment of the respective counsel referred to in such
Section, to conduct a reasonable investigation within the meaning of Section 11
of the Securities Act; provided, however,
that each such party shall be required to maintain in confidence and not to
disclose to any other person any information or records reasonably designated
by the Company as being confidential, until such time as (A) such information
becomes a matter of public record (whether by virtue of its inclusion in such
registration statement or otherwise), or (B) such person shall be required so
to disclose such information pursuant to a subpoena or order of any court or
other governmental agency or body having jurisdiction over the matter (subject
to the requirements of such order, and only after such person shall have given
the Company prompt prior written notice of such requirement), or (C) such
information is set forth in such Shelf Registration Statement or the prospectus
included therein or in an amendment to such Shelf Registration Statement or an
amendment or supplement to such prospectus in order that such Shelf
Registration Statement, prospectus, amendment or supplement, as the case may
be, complies with applicable requirements of the federal securities laws and
the rules and regulations of the Commission and does not contain an untrue
statement of a material fact or omit to state therein a material fact required
to be stated therein or
13
necessary to make the statements therein not misleading in light of the
circumstances then existing;
(viii)
promptly notify each of the Electing Holders, any sales or placement
agent therefor and any underwriter thereof (which notification may be made
through any managing underwriter that is a representative of such underwriter
for such purpose) and confirm such advice in writing, (A) with respect to such
Shelf Registration Statement or any post-effective amendment, when the
same has become effective, (B) of the issuance by the Commission of any stop
order suspending the effectiveness of such Shelf Registration Statement or the
initiation or threatening of any proceedings for that purpose, (C) of the
receipt by the Company of any notification with respect to the suspension of
the qualification of the Registrable Securities for sale in any jurisdiction or
the initiation or threatening of any proceeding for such purpose, or (D) if at
any time when a prospectus is required to be delivered under the Securities
Act, that such Shelf Registration Statement, prospectus, prospectus amendment
or supplement or post-effective amendment does not conform in all
material respects to the applicable requirements of the Securities Act and the
Trust Indenture Act and the rules and regulations of the Commission thereunder
or contains an untrue statement of a material fact or omits to state any
material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing, which such
notice, in the case of clauses (B), (C) and (D) shall require the suspension of
the use of such prospectus until further notice;
(ix)
use its reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of such registration statement or any post-effective
amendment thereto at the earliest practicable date unless the Company in good faith
and for valid business reasons determines that to do so would involve
disclosing a material undisclosed event;
(x) if
reasonably requested by any managing underwriter or underwriters, any placement
or sales agent or any Electing Holder, promptly incorporate in a prospectus
supplement or post-effective amendment such information as is required by
the applicable rules and regulations of the Commission and as such managing
underwriter or underwriters, such agent or such Electing Holder specifies
should be included therein relating to the terms of the sale of such
Registrable Securities, including information with respect to the principal
amount of Registrable Securities being sold by such Electing Holder or agent or
to any underwriters, the name and description of such Electing Holder, agent or
underwriter, the offering price of such Registrable Securities and any
discount, commission or other compensation payable in respect thereof, the
purchase price being paid therefor by such underwriters and with respect to any
other terms of the offering of the Registrable Securities to be sold by such
Electing Holder or agent or to such underwriters; and make all required filings
of such prospectus supplement or post-effective amendment promptly after
notification of the matters to be incorporated in such prospectus supplement or
post-effective amendment;
14
(xi)
furnish to each Electing Holder, each placement or sales agent, if any,
therefor, each underwriter, if any, thereof and the respective counsel referred
to in Section 3(d)(vi) above a conformed copy of such Shelf Registration
Statement, each such amendment and supplement thereto (in each case including,
upon request, all exhibits thereto and documents incorporated by reference
therein) and such number of copies of the prospectus included in such Shelf
Registration Statement (including each preliminary prospectus and any summary
prospectus), in conformity in all material respects with the applicable
requirements of the Securities Act and the Trust Indenture Act and the rules
and regulations of the Commission thereunder, and such other documents, as such
Electing Holder, agent, if any, and underwriter, if any, may reasonably request
that may be required in connection with the offering and disposition of the
Registrable Securities owned by such Electing Holder, offered or sold by such
agent or underwritten by such underwriter and to permit such Electing Holder,
agent and underwriter to satisfy the prospectus delivery requirements of the
Securities Act; and the Company hereby consents to the use of the prospectus
contained in the Shelf Registration Statement at the Effective Time thereof and
any amendment or supplement thereto by each such Electing Holder and by any
such agent and underwriter, in each case in the form most recently provided to
such person by the Company, in connection with the offering and sale of the
Registrable Securities covered by such prospectus or any such supplement or
amendment thereto;
(xii)
use reasonable best efforts to (A) register or qualify the Registrable
Securities to be included in such Shelf Registration Statement under such securities
laws or blue sky laws of such jurisdictions as any Electing Holder and each
placement or sales agent, if any, therefor and underwriter, if any, thereof
shall reasonably request, (B) keep such registrations or qualifications in
effect and comply with such laws so as to permit the continuance of offers,
sales and dealings therein in such jurisdictions during the period the Shelf
Registration is required to remain effective under Section 2(b) above and for
so long as may be necessary to enable any such Electing Holder, agent or underwriter
to complete its distribution of Securities pursuant to such Shelf Registration
Statement and (C) take any and all other actions as may be reasonably necessary
or advisable to enable each such Electing Holder, agent, if any, and
underwriter, if any, to consummate the disposition in such jurisdictions of
such Registrable Securities; provided, however,
that neither the Company nor the Guarantors shall be required for any such
purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it
would not otherwise be required to qualify but for the requirements of this
Section 3(d)(xii), (2) consent to general service of process or taxation in any
such jurisdiction or (3) make any changes to its incorporating documents or
limited liability agreement or any other agreement between it and its
stockholders or members;
(xiii)
unless any Registrable Securities shall be in book-entry only form,
cooperate with the Electing Holders and the managing underwriters, if any, to
facilitate the timely preparation and delivery of certificates representing
15
Registrable Securities to be sold, which certificates, if so required
by any securities exchange upon which any Registrable Securities are listed,
shall be penned, lithographed or engraved, or produced by any combination of
such methods, on steel engraved borders, and which certificates shall not bear
any restrictive legends; and, in the case of an underwritten offering, enable
such Registrable Securities to be in such denominations and registered in such
names as the managing underwriters may request at least two business days prior
to any sale of the Registrable Securities;
(xiv)
enter into one or more underwriting agreements, engagement letters,
agency agreements, best efforts underwriting agreements or similar
agreements, as appropriate, including customary provisions relating to
indemnification and contribution (such indemnification and contribution
obligations of the Company to be no more extensive than those contained in the
Purchase Agreement), and take such other actions in connection therewith as any
Electing Holders aggregating at least 20% in aggregate principal amount of the
Registrable Securities at the time outstanding shall reasonably request in
order to expedite or facilitate the disposition of such Registrable Securities;
(xv)
whether or not an agreement of the type referred to in Section 3(d)(xiv)
hereof is entered into and whether or not any portion of the offering
contemplated by the Shelf Registration is an underwritten offering or is made
through a placement or sales agent or any other entity, (A) make such
representations and warranties to the Electing Holders and the placement or
sales agent, if any, therefor and the underwriters, if any, thereof in form,
substance and scope as are customarily made in connection with an offering of
debt securities pursuant to any appropriate agreement or to a registration
statement filed on the form applicable to the Shelf Registration; (B) obtain an
opinion of counsel to the Company in customary form and covering such matters,
of the type customarily covered by such an opinion, as the managing
underwriters, if any, or as any Electing Holders of at least 20% in aggregate
principal amount of the Registrable Securities at the time outstanding may
reasonably request, addressed to such Electing Holder or Electing Holders and
the placement or sales agent, if any, therefor and the underwriters, if any,
thereof and dated the effective date of such Shelf Registration Statement (or
if such Shelf Registration Statement contemplates an underwritten offering of a
part or all of the Registrable Securities, dated the date of the closing under
the underwriting agreement relating thereto) (it being agreed that the matters
to be covered by such opinion shall include the due incorporation, organization
or formation and good standing of the Company and the Guarantors; the
qualification of the Company and the Guarantors to transact business as foreign
corporations; the due authorization, execution and delivery of the relevant
agreement, if any, of the type referred to in Section 3(d)(xiv) hereof; the due
authorization, execution, authentication and issuance, and the validity and
enforceability, of the Securities; the absence of governmental approvals
required to be obtained in connection with the Shelf Registration, the offering
and sale of the Registrable Securities, this Exchange and Registration Rights
Agreement or any agreement of the type referred to in Section
16
3(d)(xiv) hereof, except such approvals as may have been obtained or
may be required under state securities or blue sky laws; the material
compliance as to form of such Shelf Registration Statement and any documents
incorporated by reference therein and of the Indenture with the requirements of
the Securities Act and the Trust Indenture Act and the rules and regulations of
the Commission thereunder, respectively; and, if addressed to any underwriters,
as of the date of the opinion and of the Shelf Registration Statement or most
recent post-effective amendment thereto, as the case may be, the absence
from such Shelf Registration Statement and the prospectus included therein, as
then amended or supplemented, and from the documents incorporated by reference
therein (in each case other than the financial statements and other financial
or accounting information contained therein) of an untrue statement of a
material fact or the omission to state therein a material fact necessary to
make the statements therein not misleading (in the case of such documents, in
the light of the circumstances existing at the time that such documents were
filed with the Commission under the Exchange Act)); (C) obtain a cold comfort
letter or letters from the independent certified public accountants of the
Company addressed to the selling Electing Holders, the placement or sales
agent, if any, therefor or the underwriters, if any, thereof, dated (i) the
effective date of such Shelf Registration Statement and (ii) the effective date
of any prospectus supplement to the prospectus included in such Shelf
Registration Statement or post-effective amendment to such Shelf
Registration Statement which includes unaudited or audited financial statements
as of a date or for a period subsequent to that of the latest such statements included
in such prospectus (and, if such Shelf Registration Statement contemplates an
underwritten offering pursuant to any prospectus supplement to the prospectus
included in such Shelf Registration Statement or post-effective amendment
to such Shelf Registration Statement which includes unaudited or audited
financial statements as of a date or for a period subsequent to that of the
latest such statements included in such prospectus, dated the date of the
closing under the underwriting agreement relating thereto), such letter or
letters to be in customary form and covering such matters of the type
customarily covered by letters of such type; and (D) deliver such documents and
certificates, including officers certificates, as may be reasonably requested
by any Electing Holders of at least 20% in aggregate principal amount of the
Registrable Securities at the time outstanding or the placement or sales agent,
if any, therefor and the managing underwriters, if any, thereof to evidence the
accuracy of the representations and warranties made pursuant to clause (A)
above or those contained in Section 5(a) hereof and the compliance with or
satisfaction of any agreements or conditions contained in the underwriting
agreement or other agreement entered into by the Company or the Guarantors;
(xvi)
notify in writing each holder of Registrable Securities of any proposal
by the Company to amend or waive any provision of this Exchange and
Registration Rights Agreement in any material respect pursuant to Section 9(h) hereof
and of any such amendment or waiver effected pursuant thereto, each of which
notices shall contain the text of the amendment or waiver proposed or effected,
as the case may be;
17
(xvii)
in the event that any broker-dealer registered under the Exchange
Act shall underwrite any Registrable Securities or participate as a member of
an underwriting syndicate or selling group or assist in the distribution
(within the meaning of the Conduct Rules (the Conduct Rules) of the
National Association of Securities Dealers, Inc. (NASD) or any
successor thereto, as amended from time to time) thereof, whether as a holder
of such Registrable Securities or as an underwriter, a placement or sales agent
or a broker or dealer in respect thereof, or otherwise, cooperate with such
broker-dealer in connection with any filings required to be made by the
NASD;
(xviii) comply with all applicable rules and
regulations of the Commission, and make generally available to its
securityholders as soon as practicable but in any event not later than 18
months after the effective date of such Shelf Registration Statement, an
earning statement of the Company and its subsidiaries complying with Section
11(a) of the Securities Act (including, at the option of the Company, Rule 158
thereunder).
(e) In the event that the
Company would be required, pursuant to Section 3(d)(viii)(D) above, to notify
the Electing Holders, the placement or sales agent, if any, therefor and the
managing underwriters, if any, thereof, the Company shall as soon as reasonably
practicable prepare and furnish to each of the Electing Holders, to each
placement or sales agent, if any, and to each such underwriter, if any, a
reasonable number of copies of a prospectus supplemented or amended so that, as
thereafter delivered to purchasers of Registrable Securities, such prospectus
shall conform in all material respects to the applicable requirements of the
Securities Act and the Trust Indenture Act and the rules and regulations of the
Commission thereunder and shall not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in light of the
circumstances then existing; provided,
however, the Company shall not be
required to amend or supplement such prospectus if (i) not permitted by law or
(ii) the Company in good faith and for valid business reasons determines that
to do so would involve disclosing a material undisclosed event. Each Electing Holder agrees that upon receipt
of any notice from the Company pursuant to Section 3(d)(viii)(D) hereof, such
Electing Holder shall forthwith discontinue the disposition of Registrable
Securities pursuant to the Shelf Registration Statement applicable to such
Registrable Securities until such Electing Holder shall have received copies of
such amended or supplemented prospectus, and if so directed by the Company,
such Electing Holder shall deliver to the Company (at the Companys expense)
all copies, other than permanent file copies, then in such Electing Holders
possession of the prospectus covering such Registrable Securities at the time
of receipt of such notice.
(f) In the event of a
Shelf Registration, in addition to the information required to be provided by
each Electing Holder in its Notice and Questionnaire, the Company may require
such Electing Holder to furnish to the Company such additional information
regarding such Electing Holder and such Electing Holders intended method of
distribution of Registrable Securities as may be required in order to comply
with the Securities Act. Each such Electing
Holder agrees to (i) notify the Company as promptly
18
as practicable of (A) any inaccuracy or
change in information previously furnished by such Electing Holder to the Company
or (B) of the occurrence of any event in either case as a result of which any
prospectus relating to such Shelf Registration contains or would contain an
untrue statement of a material fact regarding such Electing Holder or such
Electing Holders intended method of disposition of such Registrable Securities
or omits to state any material fact regarding such Electing Holder or such
Electing Holders intended method of disposition of such Registrable Securities
required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing, and (ii) promptly to
furnish to the Company any additional information required to correct and
update any previously furnished required information or so that such prospectus
shall not contain, with respect to such Electing Holder or the disposition of
such Registrable Securities, an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading in light of the circumstances then existing.
(g) Until the expiration
of two years after the Closing Date, the Company will not, and will not permit
any of its affiliates (as defined in Rule 144) to, resell any of the
Securities that have been reacquired by any of them except pursuant to an
effective registration statement under the Securities Act.
4. Registration Expenses.
The Company agrees to
bear and to pay or cause to be paid promptly all expenses incident to the
Companys performance of or compliance with this Exchange and Registration
Rights Agreement, including (a) all Commission and any NASD registration,
filing and review fees and expenses, (b) all fees and expenses in connection
with the qualification of the Securities for offering and sale under the State
securities and blue sky laws referred to in Section 3(d)(xii) hereof under the
laws of such jurisdictions as any managing underwriters or the Electing Holders
may designate, including any fees and disbursements of one counsel for the
Electing Holders or underwriters in connection with such qualification, (c) all
expenses relating to the preparation, printing, production, distribution and
reproduction of each registration statement required to be filed hereunder,
each prospectus included therein or prepared for distribution pursuant hereto,
each amendment or supplement to the foregoing, and the expenses of preparing
the Securities for delivery, (d) messenger, telephone and delivery expenses
relating to the preparation of documents referred in clause (c) above, (e) fees
and expenses of the Trustee under the Indenture, (f) internal expenses
(including all salaries and expenses of the Companys officers and employees
performing legal or accounting duties), (g) fees, disbursements and expenses of
counsel and independent certified public accountants of the Company (including
the expenses of any opinions or cold comfort letters required by or incident
to such performance and compliance), (h) reasonable fees, disbursements and
expenses of one counsel for the Electing Holders retained in connection with a
Shelf Registration, as selected by the Electing Holders of at least a majority
in aggregate principal amount of the Registrable Securities held by Electing
Holders (which counsel shall be reasonably satisfactory to the Company), (j)
any fees charged by securities rating services for rating the Securities, and
(k) fees, expenses and disbursements of any other persons, including special
experts, retained by the Company in connection with such registration
(collectively, the Registration Expenses). To the extent that any Registration Expenses
are incurred, assumed or paid by any holder of Registrable Securities or any
placement
19
or sales agent therefor
or underwriter thereof, the Company shall reimburse such person for the full
amount of the reasonable Registration Expenses so incurred, assumed or paid
promptly after receipt of a request therefor.
Notwithstanding the foregoing, the holders of the Registrable Securities
being registered shall pay all agency fees and commissions and underwriting
discounts and commissions attributable to the sale of such Registrable
Securities and the fees and disbursements of any counsel or other advisors or
experts retained by such holders (severally or jointly), other than the counsel
and experts specifically referred to above.
5. Representations and Warranties.
The Company and the
Guarantors represent and warrant to, and agree with, each Purchaser and each of
the holders from time to time of Registrable Securities that:
(a) Each registration
statement covering Registrable Securities and each prospectus (including any
preliminary or summary prospectus) contained therein or furnished pursuant to
Section 3(d) or Section 3(c) hereof and any further amendments or supplements
to any such registration statement or prospectus, when it becomes effective or
is filed with the Commission, as the case may be, will conform in all material
respects to the requirements of the Securities Act and the Trust Indenture Act
and the rules and regulations of the Commission thereunder and will not contain
an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading; and at all times subsequent to the Effective Time when a prospectus
would be required to be delivered under the Securities Act, other than from (i)
such time as a notice has been given to holders of Registrable Securities
pursuant to Section 3(d)(viii)(D) or Section 3(c)(iii)(D) hereof until (ii)
such time as the Company furnishes an amended or supplemented prospectus
pursuant to Section 3(e) or Section 3(c)(iv) hereof, each such registration
statement, and each prospectus (including any summary prospectus) contained
therein or furnished pursuant to Section 3(d) or Section 3(c) hereof, as then
amended or supplemented, will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the
circumstances then existing; provided,
however, that this representation
and warranty shall not apply to any statements or omissions made in reliance
upon and in conformity with information furnished in writing to the Company by
a holder of Registrable Securities, a placement or sales agent or an
underwriter expressly for use therein.
(b) Any documents
incorporated by reference in any prospectus referred to in Section 5(a) hereof,
when they become or became effective or are or were filed with the Commission,
as the case may be, will conform or conformed in all material respects to the
requirements of the Securities Act or the Exchange Act, as applicable, and, as
of such effective or filing date, none of such documents will contain or
contained an untrue statement of a material fact or will omit or omitted to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading; provided,
however, that this representation and warranty shall not apply to
any statements or omissions made in reliance upon and in conformity with
information furnished in writing to the Company by a holder of Registrable
Securities, a placement or sales agent or an underwriter expressly for use
therein.
20
(c) The compliance by the
Company with all of the provisions of this Exchange and Registration Rights
Agreement and the consummation of the transactions herein contemplated will not
conflict with or result in a breach of any of the terms or provisions of, or
constitute a default under, any indenture, mortgage, deed of trust, loan
agreement or other agreement or instrument to which the Company or any
subsidiary of the Company is a party or by which the Company or any subsidiary
of the Company is bound or to which any of the property or assets of the
Company or any subsidiary of the Company is subject, except for such conflict,
breach or default which (x) would not have a material adverse effect on the
business, condition (financial or otherwise) or results of operations of the
Company and its subsidiaries, taken as a whole (any such event, a Material
Adverse Effect) or (y) have been waived nor will such action result in any
violation of the provisions of the organizational documents of the Company or the Guarantors or violate any statute
or any order, rule or regulation of any court or governmental agency or body
having jurisdiction over the Company or any subsidiary of the Company or any of
their properties except for such violation which would not have a Material
Adverse Effect; and no consent, approval, authorization, order, registration or
qualification of or with any such court or governmental agency or body is
required for the consummation by the Company and the Guarantors of the
transactions contemplated by this Exchange and Registration Rights Agreement,
except the registration under the Securities Act of the Securities,
qualification of the Indenture under the Trust Indenture Act and such consents,
approvals, authorizations, registrations or qualifications as may be required
under state securities or blue sky laws in connection with the offering and
distribution of the Securities.
(d) This Exchange and
Registration Rights Agreement has been duly authorized, executed and delivered
by the Company and the Guarantors.
6. Indemnification.
(a) Indemnification by the Company and the
Guarantors. The Company and
the Guarantors, jointly and severally, will indemnify and hold harmless each
broker dealer selling Exchange Securities during the Resale Period, and each of
the Electing Holders of Registrable Securities included in a Shelf Registration
Statement against any losses, claims, damages or liabilities, joint or several,
to which such holder may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in any Exchange Registration Statement
or Shelf Registration Statement, as the case may be, under which such
Registrable Securities were registered under the Securities Act, or any
preliminary, final or summary prospectus contained therein or furnished by the
Company to any such holder, or any amendment or supplement thereto, or arise
out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements
therein not misleading, and will reimburse such holder for any out-of-pocket
legal or other expenses reasonably incurred by them in connection with
investigating or defending any such action or claim as such expenses are
incurred; provided, however, that
(i) neither the Company nor any Guarantor shall be liable to any such person in
any such case to the extent that any such loss, claim, damage or liability
arises out of or is based upon an untrue statement or alleged untrue statement
or omission or
21
alleged omission made in such registration
statement, or preliminary, final or summary prospectus, or amendment or supplement
thereto, in reliance upon and in conformity with written information furnished
to the Company by any holder, placement or sales agent or underwriter expressly
for use therein and (ii) such indemnity
with respect to any preliminary prospectus shall not inure to the benefit of
any holder, placement agent or underwriter (or any person controlling such
person) to the extent that any loss, claim, damage or liability of such person
results from the fact that such person sold Securities to a person as to whom
it shall be established that there was not sent or given, a copy of the final
prospectus (or the final prospectus as amended or supplemented) at or prior to
the confirmation of the sale of such Securities to such person if (x) the Company
has previously furnished copies thereof in sufficient quantity to such
indemnified person and the loss, claim, damage or liability of such indemnified
person results from an untrue statement or omission of a material fact
contained in such preliminary prospectus which was corrected in the final
prospectus (or the final prospectus as amended or supplemented) and (y) such
loss, liability, claim, damage or expense would have been eliminated by the
delivery of such corrected final prospectus or the final prospectus as then
amended or supplemented.
(b) Indemnification by the Holders and Any Agents and
Underwriters. As a condition
to including any Registrable Securities in any registration statement filed
pursuant to Section 2(b) hereof or to entering into any underwriting agreement
with respect thereto, each Electing Holder of such Registrable Securities and
each underwriter named in any such underwriting agreement, severally and not
jointly, will (i) indemnify and hold harmless the Company, the Guarantors, and all other holders of
Registrable Securities, against any losses, claims, damages or liabilities to
which the Company, the Guarantors
or such other holders of Registrable Securities may become subject, under the
Securities Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon an untrue
statement or alleged untrue statement of a material fact contained in such
registration statement, or any preliminary, final or summary prospectus
contained therein or furnished by the Company to any such Electing Holder,
agent or underwriter, or any amendment or supplement thereto, or arise out of
or are based upon the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein
not misleading, in each case to the extent, but only to the extent, that such
untrue statement or alleged untrue statement or omission or alleged omission
was made in reliance upon and in conformity with written information furnished
to the Company by such Electing Holder or underwriter expressly for use
therein, and (ii) reimburse the Company and the Guarantors for any legal or
other expenses reasonably incurred by the Company and the Guarantors in
connection with investigating or defending any such action or claim as such
expenses are incurred; provided, however,
that no such Electing Holder shall be required to undertake liability to any
person under this Section 6(b) for any amounts in excess of the proceeds to be
received by such Electing Holder from the sale of such Electing Holders
Registrable Securities pursuant to such registration.
(c) Notices of Claims, Etc. Promptly after receipt by an
indemnified party under Section 6(a) or Section 6(b) above of written notice of
the commencement of any action, such indemnified party shall, if a claim in
respect thereof is to be made against an indemnifying party pursuant to the indemnification
provisions of or contemplated by this Section 6, notify such indemnifying party
in writing of the commencement of such action; but the omission so to notify
the indemnifying party shall not relieve it from any liability which it may
have to any
22
indemnified party otherwise than under the
indemnification provisions of or contemplated by Section 6(a) or 6(b)
above. In case any such action shall be
brought against any indemnified party and it shall notify an indemnifying party
of the commencement thereof, such indemnifying party shall be entitled to
participate therein and, to the extent that it shall wish, jointly with any
other indemnifying party similarly notified, to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party (who shall not,
except with the consent of the indemnified party, be counsel to the
indemnifying party), and, after notice from the indemnifying party to such
indemnified party of its election so to assume the defense thereof, such
indemnifying party shall not be liable to such indemnified party for any legal
expenses of other counsel or any other expenses, in each case subsequently
incurred by such indemnified party, in connection with the defense thereof
other than reasonable costs of investigation.
In no event shall the indemnifying parties be liable for fees and
expenses of more than one counsel (in addition to any local counsel) separate
from their own counsel for all indemnified parties in connection with any one
action or separate but similar or related actions in the same jurisdiction
arising out of the same general allegations or circumstances. No indemnifying party shall, without the
written consent of the indemnified party, effect the settlement or compromise
of, or consent to the entry of any judgment with respect to, any pending or
threatened action or claim in respect of which indemnification or contribution
may be sought hereunder (whether or not the indemnified party is an actual or
potential party to such action or claim) unless such settlement, compromise or
judgment (i) includes an unconditional release of the indemnified party from
all liability arising out of such action or claim and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or
on behalf of any indemnified party. No
indemnifying party shall be liable under this Section 6(c) for any settlement
of any claim or action effected without its consent, which consent shall not be
unreasonably withheld.
(d) Contribution. If
for any reason the indemnification provisions contemplated by Section 6(a) or
Section 6(b) above are unavailable to or insufficient to hold harmless an
indemnified party in respect of any losses, claims, damages or liabilities (or
actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a
result of such losses, claims, damages or liabilities (or actions in respect
thereof) in such proportion as is appropriate to reflect the relative fault of
the indemnifying party and the indemnified party in connection with the
statements or omissions which resulted in such losses, claims, damages or
liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative
fault of such indemnifying party and indemnified party shall be determined by
reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by such indemnifying party or by
such indemnified party, and the parties relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or
omission. The parties hereto agree that
it would not be just and equitable if contributions pursuant to this Section
6(d) were determined by pro rata allocation (even if the holders or any agents
or underwriters or all of them 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 this Section 6(d). The amount paid or payable by an indemnified
party as a result of the losses, claims, damages, or liabilities (or actions in
respect thereof) referred to above shall be deemed to include any legal or other
fees or expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim. Notwithstanding the provisions of this
Section 6(d), no holder shall be
23
required to contribute any amount in excess of
the amount by which the proceeds received by such holder from the sale of any
Registrable Securities (after deducting any fees, discounts and commissions
applicable thereto) 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, and no underwriter shall be required
to contribute any amount in excess of the amount by which the total price at
which the Registrable Securities underwritten by it and distributed to the
public were offered to the public exceeds the amount of any damages which such
underwriter 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 and any underwriters obligations in this Section 6(d) to contribute
shall be several in proportion to the principal amount of Registrable
Securities registered or underwritten, as the case may be, by them and not
joint.
(e) The
obligations of the Company and the Guarantors under this Section 6 shall be in
addition to any liability which the Company or the Guarantors may otherwise
have and shall extend, upon the same terms and conditions, to each officer,
director and partner of each holder, agent and underwriter and each person, if
any, who controls any holder, agent or underwriter within the meaning of the
Securities Act; and the obligations of the holders and any agents or
underwriters contemplated by this Section 6 shall be in addition to any
liability which the respective holder, agent or underwriter may otherwise have
and shall extend, upon the same terms and conditions, to each officer and
director of the Company or the Guarantors and to each person, if any, who
controls the Company or a Guarantor within the meaning of the Securities Act.
7. Underwritten Offerings.
(a) Selection of Underwriters. If any of the Registrable
Securities covered by the Shelf Registration are to be sold pursuant to an
underwritten offering, the managing underwriter or underwriters thereof shall
be designated by Electing Holders holding at least a majority in aggregate
principal amount of the Registrable Securities to be included in such offering,
provided that such designated managing underwriter or underwriters is or are
reasonably acceptable to the Company.
(b) Participation by Holders. Each holder of Registrable
Securities hereby agrees with each other such holder that no such holder may
participate in any underwritten offering hereunder unless such holder (i)
agrees to sell such holders Registrable Securities on the basis provided in
any underwriting arrangements approved by the persons entitled hereunder to
approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents
reasonably required under the terms of such underwriting arrangements.
8. Rule 144.
The Company covenants to
the holders of Registrable Securities that to the extent it shall be required
to do so under the Exchange Act, the Company shall timely file the reports
24
required to be filed by
it under the Exchange Act or the Securities Act (including the reports under
Section 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of
Rule 144 adopted by the Commission under the Securities Act) and the rules and
regulations adopted by the Commission thereunder, and shall take such further
action as any holder of Registrable Securities may reasonably request, all to
the extent required from time to time to enable such holder to sell Registrable
Securities without registration under the Securities Act within the limitations
of the exemption provided by Rule 144 under the Securities Act, as such Rule
may be amended from time to time, or any similar or successor rule or
regulation hereafter adopted by the Commission.
Upon the request of any holder of Registrable Securities in connection
with that holders sale pursuant to Rule 144, the Company shall deliver to such
holder a written statement as to whether it has complied with such
requirements.
9. Miscellaneous.
(a) No Inconsistent Agreements. The Company represents, warrants, covenants
and agrees that it has not granted, and shall not grant, registration rights
with respect to Registrable Securities or any other securities which would be
inconsistent with the terms contained in this Exchange and Registration Rights
Agreement.
(b) Remedy.
Special Interest pursuant to Section 2(c) hereof is the sole remedy
available to holders of Registrable Securities in the event the Company does
not comply with any of its registration and other obligations set forth in
Section 2 herein. In addition, the
parties hereto acknowledge that there would be no adequate remedy at law if the
Company fails to perform any of its other obligations under Sections 4, 6, or 8
hereunder and that the Purchasers and the holders from time to time of the
Registrable Securities may be irreparably harmed by any such failure, and
accordingly agree that the Purchasers and such holders, in addition to any
other remedy to which they may be entitled at law or in equity, shall be
entitled to compel specific performance of such obligations in accordance with
the terms and conditions of this Exchange and Registration Rights Agreement, in
any court of the United States or any State thereof having jurisdiction.
(c) Notices. All notices, requests, claims, demands,
waivers and other communications hereunder shall be in writing and shall be
deemed to have been duly given when delivered by hand, if delivered personally
or by courier, or three days after being deposited in the mail (registered or
certified mail, postage prepaid, return receipt requested) as follows: If to the Company, to it at 500 Huntsman Way,
Salt Lake City, Utah 84108, Attention: General Counsel, and if to a holder, to
the address of such holder set forth in the security register or other records
of the Company, or to such other address as the Company or any such holder may
have furnished to the other in writing in accordance herewith, except that
notices of change of address shall be effective only upon receipt.
(d) Parties in Interest. All the terms and provisions of this Exchange
and Registration Rights Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto and the holders from
time to time of the Registrable Securities and the respective successors and
assigns of the parties hereto and such holders.
In the event that any transferee of any holder of Registrable Securities
shall acquire Registrable Securities, in any manner, whether by gift, bequest,
purchase, operation of law or otherwise, such transferee shall,
25
without any further writing or action of any
kind, be deemed a beneficiary hereof for all purposes and such Registrable
Securities shall be held subject to all of the terms of this Exchange and
Registration Rights Agreement, and by taking and holding such Registrable
Securities such transferee shall be entitled to receive the benefits of, and be
conclusively deemed to have agreed to be bound by all of the applicable terms
and provisions of this Exchange and Registration Rights Agreement. If the Company shall so request, any such
successor, assign or transferee shall agree in writing to acquire and hold the
Registrable Securities subject to all of the applicable terms hereof.
(e) Survival.
The respective indemnities, agreements, representations, warranties and
each other provision set forth in this Exchange and Registration Rights
Agreement or made pursuant hereto shall remain in full force and effect
regardless of any investigation (or statement as to the results thereof) made
by or on behalf of any holder of Registrable Securities, any director, officer
or partner of such holder, any agent or underwriter or any director, officer or
partner thereof, or any controlling person of any of the foregoing, and shall
survive delivery of and payment for the Registrable Securities pursuant to the
Purchase Agreement and the transfer and registration of Registrable Securities
by such holder and the consummation of an Exchange Offer.
(f) Governing Law. This Exchange and Registration Rights
Agreement shall be governed by and construed in accordance with the laws of the
State of New York, without reference to the conflict of law rules thereof.
(g) Headings.
The descriptive headings of the several Sections and paragraphs of this
Exchange and Registration Rights Agreement are inserted for convenience only,
do not constitute a part of this Exchange and Registration Rights Agreement and
shall not affect in any way the meaning or interpretation of this Exchange and
Registration Rights Agreement.
(h) Entire Agreement; Amendments. This Exchange and Registration Rights
Agreement and the other writings referred to herein (including the Indenture
and the form of Securities) or delivered pursuant hereto which form a part
hereof contain the entire understanding of the parties with respect to its
subject matter. This Exchange and
Registration Rights Agreement supersedes all prior agreements and
understandings between the parties with respect to its subject matter. This Exchange and Registration Rights
Agreement may be amended and the observance of any term of this Exchange and
Registration Rights Agreement may be waived (either generally or in a
particular instance and either retroactively or prospectively) only by a
written instrument duly executed by the Company and the holders of at least a
majority in aggregate principal amount of the Registrable Securities at the
time outstanding. Each holder of any of
the Registrable Securities at the time or thereafter outstanding shall be bound
by any amendment or waiver effected pursuant to this Section 9(h), whether or
not any notice, writing or marking indicating such amendment or waiver appears
on such Registrable Securities or is delivered to such holder.
(i) Inspection. For so long as this Exchange and Registration
Rights Agreement shall be in effect, this Exchange and Registration Rights
Agreement and a complete list of the names and addresses of all the holders of
Registrable Securities shall be made
26
available for inspection and copying on any
business day by any holder of Registrable Securities for proper purposes only
(which shall include any purpose related to the rights of the holders of
Registrable Securities under the Securities, the Indenture and this Exchange
and Registration Rights Agreement) at the offices of the Trustee under the Indenture.
(j) Counterparts. This Exchange and Registration Rights
Agreement may be executed by the parties in counterparts, each of which shall
be deemed to be an original, but all such respective counterparts shall
together constitute one and the same instrument.
27
If the foregoing
is in accordance with your understanding, please sign and return to us five
counterparts hereof, and upon the acceptance hereof by you, on behalf of each
of the Purchasers, this letter and such acceptance hereof shall constitute a
binding agreement between each of the Purchasers, the Guarantors and the
Company. It is understood that your
acceptance of this letter on behalf of each of the Purchasers is pursuant to
the authority set forth in a form of Agreement among Purchasers, the form of which
shall be submitted to the Company for examination upon request, but without warranty
on your part as to the authority of the signers thereof.
Very truly yours,
|
|
|
HUNTSMAN INTERNATIONAL LLC
|
|
|
By:
|
/s/ SEAN
DOUGLAS
|
|
|
Name: Sean Douglas
|
|
Title: Vice President and Treasurer
|
S-1
GUARANTORS
AIRSTAR CORPORATION
EUROFUELS LLC
EUROSTAR
INDUSTRIES LLC
HUNTSMAN EA
HOLDINGS LLC
HUNTSMAN
ETHYLENEAMINES LTD.
HUNTSMAN
INTERNATIONAL FINANCIAL LLC
HUNTSMAN
INTERNATIONAL FUELS, L.P.
HUNTSMAN PROPYLENE
OXIDE HOLDINGS LLC
HUNTSMAN PROPYLENE
OXIDE LTD.
HUNTSMAN TEXAS
HOLDINGS LLC
HUNTSMAN ADVANCED MATERIALS AMERICAS INC.
HUNTSMAN ADVANCED MATERIALS HOLDINGS LLC
HUNTSMAN ADVANCED MATERIALS LLC
HUNTSMAN AUSTRALIA INC.
HUNTSMAN CHEMICAL COMPANY LLC
HUNTSMAN CHEMICAL FINANCE CORPORATION
HUNTSMAN CHEMICAL PURCHASING CORPORATION
HUNTSMAN ENTERPRISES, INC.
HUNTSMAN EXPANDABLE POLYMERS COMPANY, LC
HUNTSMAN FAMILY CORPORATION
HUNTSMAN FUELS, L.P.
HUNTSMAN GROUP HOLDINGS FINANCE CORPORATION
HUNTSMAN GROUP INTELLECTUAL PROPERTY HOLDINGS CORPORATION
HUNTSMAN HEADQUARTERS CORPORATION
HUNTSMAN INTERNATIONAL CHEMICALS CORPORATION
HUNTSMAN INTERNATIONAL SERVICES CORPORATION
HUNTSMAN INTERNATIONAL TRADING CORPORATION
HUNTSMAN MA INVESTMENT CORPORATION
HUNTSMAN MA SERVICES CORPORATION
S-2
|
HUNTSMAN PETROCHEMICAL CANADA HOLDINGS
CORPORATION
|
|
|
HUNTSMAN PETROCHEMICAL CORPORATION
|
|
|
HUNTSMAN PETROCHEMICAL FINANCE CORPORATION
|
|
|
HUNTSMAN PETROCHEMICAL PURCHASING CORPORATION
|
|
|
HUNTSMAN POLYMERS CORPORATION
|
|
|
HUNTSMAN POLYMERS HOLDINGS CORPORATION
|
|
|
HUNTSMAN PROCUREMENT CORPORATION
|
|
|
HUNTSMAN PURCHASING, LTD.
|
|
|
JK HOLDINGS CORPORATION
|
|
|
PETROSTAR FUELS LLC
|
|
|
PETROSTAR INDUSTRIES LLC
|
|
|
POLYMER MATERIALS INC.
|
|
|
|
|
|
|
By:
|
/s/ TROY
KELLER
|
|
|
|
|
Name: Troy Keller
|
|
|
|
Title: Assistant Secretary
|
|
|
|
|
|
|
|
|
|
Executed as a Deed by
|
|
TIOXIDE AMERICAS INC.
|
L. Russell Healy
|
|
|
for and on behalf of
|
|
|
Tioxide Americas Inc
|
|
By:
|
/s/ L. RUSSELL
HEALY
|
|
in the presence of
|
|
|
Name: L. Russell Healy
|
|
|
|
Title: Vice President and Treasurer
|
|
|
|
|
/s/ MICHELLE
FUJINAMI
|
|
Executed and delivered as a deed on behalf
|
Witness
|
|
of TIOXIDE GROUP acting by:
|
|
|
|
|
|
|
|
|
TIOXIDE GROUP
|
|
|
|
|
|
|
/s/ J. KIMO ESPLIN
|
Director
|
|
|
|
J. Kimo Esplin
|
Name
|
|
|
|
|
|
|
|
/s/ L. RUSSELL
HEALY
|
Director
|
|
|
|
L. Russell Healy
|
Name
|
|
|
|
|
|
|
|
S-3
Accepted as of the date hereof:
|
|
|
|
|
|
|
|
|
DEUTSCHE BANK SECURITIES INC.
|
|
|
CREDIT SUISSE SECURITIES (USA) LLC
|
|
|
CITIGROUP GLOBAL MARKETS INC.
|
|
|
WACHOVA CAPITAL MARKETS, LLC
|
|
|
|
|
|
|
|
|
By:
|
DEUTSCHE BANK SECURITIES INC.
|
|
|
|
|
By:
|
/s/ THOMAS W.
COLE
|
|
|
Name: Thomas W. Cole
|
|
Title: Managing Director
|
|
|
|
|
By:
|
/s/ ELIZABETH
CHANG
|
|
|
Name: Elizabeth Chang
|
|
Title: Director
|
|
|
|
|
|
S-4
SCHEDULE I
GUARANTORS
|
|
JURISDICTION
OF
ORGANIZATION
|
Airstar Corporation
|
|
Utah
|
Eurofuels LLC
|
|
Delaware
|
Eurostar Industries LLC
|
|
Delaware
|
Huntsman Advanced Materials Americas Inc.
|
|
Delaware
|
Huntsman Advanced Materials Holdings LLC
|
|
Delaware
|
Huntsman Advanced Materials LLC
|
|
Delaware
|
Huntsman Australia Inc.
|
|
Utah
|
Huntsman Chemical Company LLC
|
|
Utah
|
Huntsman Chemical Finance Corporation
|
|
Utah
|
Huntsman Chemical Purchasing Corporation
|
|
Utah
|
Huntsman EA Holdings, LLC
|
|
Delaware
|
Huntsman Enterprises, Inc.
|
|
Utah
|
Huntsman Ethyleneamines Ltd.
|
|
Texas
|
Huntsman Expandable Polymers Company, LC
|
|
Utah
|
Huntsman Family Corporation
|
|
Utah
|
Huntsman Fuels, L.P.
|
|
Texas
|
Huntsman Group Holdings Finance Corporation
|
|
Utah
|
Huntsman Group Intellectual Property Holdings Corporation
|
|
Utah
|
Huntsman Headquarters Corporation
|
|
Utah
|
Huntsman International Chemicals Corporation
|
|
Utah
|
Huntsman International Financial LLC
|
|
Delaware
|
Huntsman International Fuels, L.P.
|
|
Texas
|
Huntsman International Services Corporation
|
|
Texas
|
Huntsman International Trading Corporation
|
|
Delaware
|
Huntsman MA Investment Corporation
|
|
Utah
|
Huntsman MA Services Corporation
|
|
Utah
|
Huntsman Petrochemical Canada Holdings Corporation
|
|
Utah
|
Huntsman Petrochemical Corporation
|
|
Delaware
|
Huntsman Petrochemical Finance Corporation
|
|
Utah
|
Huntsman Petrochemical Purchasing Corporation
|
|
Utah
|
Huntsman Polymers Corporation
|
|
Delaware
|
Huntsman Polymers Holdings Corporation
|
|
Utah
|
Huntsman Procurement Corporation
|
|
Utah
|
Huntsman Propylene Oxide Holdings LLC
|
|
Delaware
|
Huntsman Propylene Oxide Ltd.
|
|
Texas
|
Huntsman Purchasing, Ltd.
|
|
Utah
|
Huntsman Texas Holdings LLC
|
|
Delaware
|
GUARANTORS
|
|
JURISDICTION
OF
ORGANIZATION
|
JK Holdings Corporation
|
|
Delaware
|
Petrostar Fuels LLC
|
|
Delaware
|
Petrostar Industries LLC
|
|
Delaware
|
Polymer Materials Inc.
|
|
Utah
|
Tioxide Americas Inc.
|
|
Cayman Islands
|
Tioxide Group
|
|
United Kingdom
|
S-2
Exhibit A
Huntsman International
LLC
INSTRUCTION TO DTC PARTICIPANTS
(Date of Mailing)
URGENT - IMMEDIATE ATTENTION REQUESTED
DEADLINE FOR RESPONSE: [DATE]*
The Depository Trust
Company (DTC) has identified you as a DTC Participant through which
beneficial interests in the Huntsman International LLC (the Company) 7
7/8% Senior Subordinated Notes due 2014 (the Securities) are held.
The Company is in the
process of registering the Securities under the Securities Act of 1933 for
resale by the beneficial owners thereof.
In order to have their Securities included in the registration
statement, beneficial owners must complete and return the enclosed Notice of
Registration Statement and Selling Securityholder Questionnaire.
It is important that
beneficial owners of the Securities receive a copy of the enclosed materials as
soon as possible as their rights to have the Securities
included in the registration statement depend upon their returning the Notice
and Questionnaire by [Deadline For Response]. Please forward a copy of the enclosed
documents to each beneficial owner that holds interests in the Securities
through you. If you require more copies
of the enclosed materials or have any questions pertaining to this matter,
please contact Huntsman International LLC, 500 Huntsman Way, Salt Lake City,
Utah 84108, (801) 532-5200.
* Not less than 28
calendar days from date of mailing.
Huntsman International LLC
Notice of Registration Statement
and
Selling Securityholder Questionnaire
(Date)
Reference is hereby made
to the Exchange and Registration Rights Agreement (the Exchange and
Registration Rights Agreement) among Huntsman LLC (the Company),
the Guarantors named therein and the Purchasers named therein. Pursuant to the Exchange and Registration Rights
Agreement, the Company has filed with the United States Securities and Exchange
Commission (the Commission) a registration statement on Form [ ] (the Shelf Registration
Statement) for the registration and resale under Rule 415 of the
Securities Act of 1933, as amended (the Securities Act), of the
Companys 7 7/8% Senior Subordinated Notes due 2014 (the Securities). A copy of the Exchange and Registration
Rights Agreement has been filed as an exhibit to the Shelf Registration
Statement. All capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the
Exchange and Registration Rights Agreement.
Each beneficial owner of
Registrable Securities (as defined below) is entitled to have the Registrable
Securities beneficially owned by it included in the Shelf Registration
Statement. In order to have Registrable
Securities included in the Shelf Registration Statement, this Notice of
Registration Statement and Selling Securityholder Questionnaire (Notice and
Questionnaire) must be completed, executed and delivered to the Companys
counsel at the address set forth herein for receipt ON OR BEFORE [Deadline for Response].
Beneficial owners of Registrable Securities who do not complete, execute
and return this Notice and Questionnaire by such date (i) will not be named as
selling securityholders in the Shelf Registration Statement and (ii) may not
use the prospectus forming a part thereof for resales of Registrable Securities.
Certain legal
consequences arise from being named as a selling securityholder in the Shelf
Registration Statement and related Prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are
advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling securityholder in the Shelf
Registration Statement and related prospectus.
The term Registrable
Securities is defined in the Exchange and Registration Rights Agreement.
2
ELECTION
The undersigned holder
(the Selling Securityholder) of Registrable Securities hereby elects
to include in the Shelf Registration Statement the Registrable Securities
beneficially owned by it and listed below in Item (3). The undersigned, by signing and returning
this Notice and Questionnaire, agrees to be bound with respect to such
Registrable Securities by the terms and conditions of this Notice and
Questionnaire and the Exchange and Registration Rights Agreement, including,
without limitation, Section 6 of the Exchange and Registration Rights
Agreement, as if the undersigned Selling Securityholder were an original party
thereto.
Upon any sale of
Registrable Securities pursuant to the Shelf Registration Statement, the Selling
Securityholder will be required to deliver to the Company and the Trustee for
the Securities the Notice of Transfer set forth in Appendix A to the Prospectus
and as Exhibit B to the Exchange and Registration Rights Agreement.
The Selling
Securityholder hereby provides the following information to the Company and
represents and warrants that such information is accurate and complete:
3
QUESTIONNAIRE
(1)
|
(a)
|
Full Legal Name of Selling Securityholder:
|
|
|
|
|
|
|
|
(b)
|
Full Legal Name of Registered Holder (if not the
same as in (a) above) of Registrable Securities Listed in Item (3) below:
|
|
|
|
|
|
|
|
(c)
|
Full Legal Name of Euroclear Participant (if
applicable and if not the same as (b) above) Through Which Registrable
Securities Listed in Item (3) below are Held:
|
|
|
|
|
|
|
(2)
|
Address for Notices to Selling Securityholder:
|
|
|
|
|
|
|
|
Telephone:
|
|
|
|
Fax:
|
|
|
|
Contact Person:
|
|
|
|
|
|
|
(3)
|
Beneficial Ownership of Securities:
|
|
|
|
|
|
Except as set forth below in this Item (3), the
undersigned does not beneficially own any Securities.
|
|
|
|
(a)
|
Principal amount of Registrable Securities
beneficially owned:
|
|
|
|
|
|
CUSIP/ISIN No(s). of such Registrable Securities:
|
|
|
|
|
(b)
|
Principal amount of Securities other than
Registrable Securities beneficially owned:
|
|
|
|
|
CUSIP/ISIN No(s). of such other Securities:
|
|
|
|
(c)
|
Principal amount of Registrable Securities which the
undersigned wishes to be included in the Shelf Registration Statement:
|
|
|
|
|
|
CUSIP/ISIN No(s). of such Registrable Securities to
be included in the Shelf Registration Statement:
|
|
|
|
|
|
4
(4) Beneficial Ownership of Other
Securities of the Company:
Except as set forth below in this
Item (4), the undersigned Selling Securityholder is not the beneficial or
registered owner of any other securities of the Company, other than the Securities
listed above in Item (3).
State any exceptions
here:
(5) Relationships
with the Company:
Except as set forth below,
neither the Selling Securityholder nor any of its affiliates, officers,
directors or principal equity holders (5% or more) has held any position or
office or has had any other material relationship with the Company (or its
predecessors or affiliates) during the past three years.
State any exceptions
here:
(6) Plan of
Distribution:
Except as set forth below, the
undersigned Selling Securityholder intends to distribute the Registrable
Securities listed above in Item (3) only as follows (if at all): Such Registrable Securities may be sold from
time to time directly by the undersigned Selling Securityholder or,
alternatively, through underwriters, broker-dealers or agents. Such Registrable Securities may be sold in
one or more transactions at fixed prices, at prevailing market prices at the
time of sale, at varying prices determined at the time of sale, or at
negotiated prices. Such sales may be
effected in transactions (which may involve crosses or block transactions) (i)
on any national securities exchange or quotation service on which the
Registered Securities may be listed or quoted at the time of sale, (ii) in the
over-the-counter market, (iii) in transactions otherwise than on such exchanges
or services or in the over-the-counter market, or (iv) through the writing of
options. In connection with sales of the
Registrable Securities or otherwise, the Selling Securityholder may enter into
hedging transactions with broker-dealers, which may in turn engage in short
sales of the Registrable Securities in the course of hedging the positions they
assume. The Selling Securityholder may
also sell Registrable Securities short and deliver Registrable Securities to
close out such short positions, or loan or pledge Registrable Securities to
broker-dealers that in turn may sell such securities.
State any exceptions
here:
By signing below, the
Selling Securityholder acknowledges that it understands its obligation to comply,
and agrees that it will comply, with the provisions of the Exchange Act and the
rules and regulations thereunder, particularly Regulation M.
In the event that the
Selling Securityholder transfers all or any portion of the Registrable
Securities listed in Item (3) above after the date on which such information is
provided to the Company, the Selling Securityholder agrees to notify the
transferee(s) at the time of the transfer of its rights and obligations under
this Notice and Questionnaire and the Exchange and Registration Rights
Agreement.
5
By signing below, the
Selling Securityholder consents to the disclosure of the information contained
herein in its answers to Items (1) through (6) above and the inclusion of such
information in the Shelf Registration Statement and related Prospectus. The Selling Securityholder understands that
such information will be relied upon by the Company in connection with the
preparation of the Shelf Registration Statement and related Prospectus.
In accordance with the
Selling Securityholders obligation under Section 3(d) of the Exchange and
Registration Rights Agreement to provide such information as may be required by
law for inclusion in the Shelf Registration Statement, the Selling Securityholder
agrees to promptly notify the Company of any inaccuracies or changes in the
information provided herein which may occur subsequent to the date hereof at
any time while the Shelf Registration Statement remains in effect. All notices hereunder and pursuant to the
Exchange and Registration Rights Agreement shall be made in writing, by
hand-delivery, first-class mail, or air courier guaranteeing overnight delivery
as follows:
|
(i)
|
To the Company:
|
Huntsman
International LLC
|
|
|
500 Huntsman Way
|
|
|
Salt Lake City, Utah 84108
|
|
|
Attention: General Counsel
|
|
|
|
|
(ii)
|
With a copy to:
|
Vinson &
Elkins L.L.P.
|
|
|
2300 First City Tower
|
|
|
1001 Fannin
|
|
|
Houston, TX 77002
|
|
|
Attention: Jeffery B. Floyd
|
Once this Notice and
Questionnaire is executed by the Selling Securityholder and received by the
Companys counsel, the terms of this Notice and Questionnaire, and the
representations and warranties contained herein, shall be binding on, shall
inure to the benefit of and shall be enforceable by the respective successors,
heirs, personal representatives, and assigns of the Company and the Selling
Securityholder (with respect to the Registrable Securities beneficially owned
by such Selling Securityholder and listed in Item (3) above). This Agreement shall be governed in all
respects by the laws of the State of New York.
IN WITNESS WHEREOF, the
undersigned, by authority duly given, has caused this Notice and Questionnaire
to be executed and delivered either in person or by its duly authorized agent.
Dated:
|
|
|
|
|
|
|
|
|
Selling
Securityholder
|
|
(Print/type full
legal name of beneficial owner of Registrable Securities)
|
|
By:
|
|
|
|
|
|
Name:
|
|
Title:
|
|
|
|
|
|
|
|
6
PLEASE RETURN THE
COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANYS COUNSEL AT:
Huntsman International LLC
500 Huntsman Way
Salt Lake City, Utah 84108
7
Exhibit B
NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT
Wells Fargo Bank,
National Association
Huntsman International
LLC
c/o Wells Fargo Bank,
National Association
[ ]
[ ]
Attention: Huntsman Administrator
Re: Huntsman
International LLC (the Company)
7 7/8% Senior Subordinated Notes due 2014
Dear Sirs:
Please be advised
that has transferred $
aggregate principal amount of the above-referenced Notes pursuant to an effective
Registration Statement on Form [ ] (File No. 333- ) filed by the Company.
We hereby certify that
the prospectus delivery requirements, if any, of the Securities Act of 1933, as
amended, have been satisfied and that the above-named beneficial owner of the
Notes is named as a Selling Holder in the Prospectus dated [date] or in supplements thereto, and that the aggregate
principal amount of the Notes transferred are the Notes listed in such
Prospectus opposite such owners name.
Dated:
|
Very truly yours,
|
|
|
|
|
|
|
|
|
|
|
(Name)
|
|
|
|
|
|
By:
|
|
|
|
|
(Authorized Signature)
|