UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):

May 18, 2017

 

 

C. R. Bard, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

New Jersey   001-6926   22-1454160

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

730 Central Avenue

Murray Hill, New Jersey

  07974
(Address of principal executive offices)   (Zip code)

(908) 277-8000

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 1.01 Entry into a Material Definitive Agreement.

On May 18, 2017, C. R. Bard, Inc. (the “Company”) entered into that certain (i) Fourth Supplemental Indenture (the “Fourth Supplemental Indenture”) with Wells Fargo Bank, National Association, a Delaware banking corporation, as trustee (the “2021 Note Trustee”) in respect of the Indenture, dated as of December 20, 2010 (the “2021 Base Indenture”), between the Company and the 2021 Note Trustee, as supplemented by that certain First Supplemental Indenture, dated as of December 20, 2010 (the 2021 Base Indenture as so supplemented, the “2021 Indenture”), pursuant to which the Company issued its 4.400% Notes due January 15, 2021 (the “2021 Notes”), and (ii) First Supplemental Indenture (the “First Supplemental Indenture” and together with the Fourth Supplemental Indenture, the “Supplemental Indentures”) with The Bank of New York Mellon Trust Company, N.A., a national banking association, as trustee (the “2026 Note Trustee” and together with the 2021 Note Trustee, the “Trustees”) in respect of the Indenture, dated as of December 1, 1996, (together with the 2021 Indenture, the “Indentures”) between the Company and the 2026 Note Trustee pursuant to which the Company issued its 6.700% Notes due 2026 (the “2026 Notes” and together with the 2021 Notes, the “Notes”).

The Supplemental Indentures were executed by the Company and the Trustees respectively, in connection with the previously announced offers by Becton, Dickinson and Company, a New Jersey corporation (“BD”), to exchange (i) the 2021 Notes for cash and new 4.400% Notes due January 15, 2021 of BD and (ii) the 2026 Notes for cash and new 6.700% Notes due December 1, 2026 of BD (the “BD Exchange Offers”). Each Supplemental Indenture became valid and binding upon execution; however, the Amendments (as defined below) contained therein to the terms of the Indentures will become effective only upon the date of the settlement of the BD Exchange Offer (the “Settlement Date”) with respect to such Notes.

The Settlement Date is conditioned upon, among other things, the closing of a merger between the Company and Lambda Corp., a New Jersey corporation and wholly-owned subsidiary of BD, pursuant to an Agreement and Plan of Merger that was entered into between the Company, BD and Lambda Corp. on April 23, 2017 (the “Bard Acquisition”), which condition cannot be waived by BD. The Settlement Date for each series of the Notes is currently expected to occur on the closing date of the Bard Acquisition.

Subject to the occurrence of the Settlement Date with respect to the applicable series of Notes, the Supplemental Indentures will, solely with respect to such Notes, (i) eliminate substantially all of the restrictive covenants in the applicable Indenture and (ii) limit the reporting covenant in the applicable indenture so that Bard is only required to comply with the reporting requirements under the Trust Indenture Act (collectively, the “Amendments”).

The summaries of the Supplemental Indentures do not purport to be complete and are qualified in their entirety by reference to the full text of the Supplemental Indentures, which are attached to this Current Report on Form 8-K as Exhibits 4.1 and 4.2, respectively, and are incorporated by reference into this Item 1.01.

 

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Item 9.01 Financial Statements and Exhibits.

 

  (d) Exhibits . See Exhibit Index.

 

3


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    C. R. Bard, Inc.
    (Registrant)
Date: May 23, 2017    

/s/ Richard C. Rosenzweig

    Richard C. Rosenzweig
    Vice President, Law and Assistant Secretary


EXHIBIT INDEX

 

Exhibit

Number

  

Exhibit Description

4.1    Fourth Supplemental Indenture, dated May 18, 2017, between C. R. Bard, Inc. and Wells Fargo Bank, National Association, as trustee
4.2    First Supplemental Indenture, dated May 18, 2017, between C. R. Bard, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee

Exhibit 4.1

C. R. BARD, INC.

and

WELLS FARGO BANK, NATIONAL ASSOCIATION,

AS TRUSTEE

FOURTH SUPPLEMENTAL INDENTURE

Dated as of May 18, 2017

To the Indenture dated as of December 20, 2010

4.400% Notes due 2021


TABLE OF CONTENTS

 

          Page  

ARTICLE 1 DEFINITIONS

     2  

Section 1.1

  

Definitions

     2  

ARTICLE 2 AMENDMENTS

     2  

Section 2.1

  

Certain Amendments to the Indenture

     2  

ARTICLE 3 EFFECTIVENESS

     3  

Section 3.1

  

Effectiveness of this Fourth Supplemental Indenture

     3  

ARTICLE 4 MISCELLANEOUS

     4  

Section 4.1

  

Relation to Original Indenture

     4  

Section 4.2

  

Governing Law

     4  

Section 4.3

  

Trustee Not Responsible for Recitals

     4  

Section 4.4

  

Successors

     4  

Section 4.5

  

Separability

     4  

Section 4.6

  

Counterparts

     5  

Section 4.7

  

Effect of Headings

     5  

Section 4.8

  

Entire Agreement

     5  

Section 4.9

  

Benefits of Fourth Supplemental Indenture

     5  

 

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FOURTH SUPPLEMENTAL INDENTURE

THIS FOURTH SUPPLEMENTAL INDENTURE (this “ Fourth Supplemental Indenture ”) is entered into as of May 18, 2017 between C. R. BARD, INC., a New Jersey corporation (the “ Company ”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a Delaware banking corporation, as Trustee (herein called the “ Trustee ”).

WHEREAS, the Company and the Trustee entered into that certain Indenture, dated as of December 20, 2010 (the “ Base Indenture ”), by and between the Company and the Trustee, relating to the Company’s senior unsecured debt securities;

WHEREAS, pursuant to Section 201 of the Base Indenture, the Company and the Trustee established the terms of certain series of unsecured debt securities entitled the “4.400% Notes due 2021” (the “ Notes ”) pursuant to the First Supplemental Indenture to the Base Indenture (the “ First Supplemental Indenture ” and the Base Indenture, as supplemented by the First Supplemental Indenture with respect to the Notes, the “ Indenture ”), dated as of December 20, 2010, between the Company and the Trustee;

WHEREAS, Section 902 of the Base Indenture provides that the Company and the

Trustee may amend certain provisions of the Indenture with respect to the Notes with the consent of the holders of not less than a majority in outstanding aggregate principal amount of the Notes;

WHEREAS, Becton, Dickinson and Company, a New Jersey corporation (“ BD ”), has offered to exchange (the “ BD Exchange Offers ”) any and all of the outstanding Notes for cash and new 4.400% Notes due January 15, 2021 of BD, upon the terms and subject to the conditions set forth in the offering memorandum and consent solicitation statement, dated May 5, 2017 (the “ Offering Memorandum and Consent Solicitation Statement ”);

WHEREAS, in connection with the BD Exchange Offers, BD has also solicited, on behalf of the Company, consents from the holders of the Notes to certain proposed amendments (the “ Proposed Amendments ”) to the Indenture with respect to the Notes as described in the Offering Memorandum and Consent Solicitation Statement and set forth in Section 2.1 of this Fourth Supplemental Indenture, with the effectiveness of such Proposed Amendments with respect to the Notes occurring upon the Settlement Date (as defined in the Offering Memorandum and Consent Solicitation Statement) of the BD Exchange Offer with respect to the Notes;

WHEREAS, BD has received and caused to be delivered to the Trustee evidence of the consents from holders of at least a majority of the outstanding aggregate principal amount of the Notes to effect the Proposed Amendments under the Indenture with respect to the Notes;

WHEREAS, the Company is undertaking to execute and deliver this Fourth Supplemental Indenture to delete or amend, as applicable, certain provisions and covenants in the Indenture with respect to the Notes in connection with the BD Exchange Offers and the related consent solicitation, which deletions and amendments will, with respect to the Notes, become effective upon the Settlement Date (as defined in the Offering Memorandum and Consent Solicitation Statement) of the BD Exchange Offer with respect to the Notes;


WHEREAS, the parties hereto intend that the execution of this Fourth Supplemental Indenture will not result in a “material modification” of the Notes, as defined in Section 1.1471-2(b)(2)(iv) of the Treasury Regulations promulgated under the Internal Revenue Code of 1986, as amended; and

WHEREAS, the board of directors of the Company has authorized and approved the execution and delivery of this Fourth Supplemental Indenture.

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, and for the equal and proportionate benefit of the holders of the Notes, the Company and the Trustee hereby agree as follows:

ARTICLE 1

DEFINITIONS

Section 1.1 Definitions .

Capitalized terms used in this Fourth Supplemental Indenture and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture.

ARTICLE 2

AMENDMENTS

Section 2.1 Certain Amendments to the Indenture .

Subject to Section 3.1, the Indenture, solely with respect to the Notes, is hereby amended as follows:

(a) Section 1003 of the Base Indenture (Reports) is hereby amended by deleting the text of Section 1003 its entirety and replacing it with the following text:

“The Company will file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act, at the times and in the manner provided pursuant to the Trust Indenture Act. To the extent any required filings are made with the Commission or the reports are posted on the Company’s website, the reports will be deemed to be furnished to the Trustee and Holders.”

(b) Section 4.1 (Limitation on Liens); Section 4.2 (Limitations on Sale and Leaseback Transactions); and Section 4.3 (Change of Control Triggering Event) of the First Supplemental Indenture shall be deleted in their entirety.

 

2


(c) Section 801 of the Base Indenture (Company May Merge or Transfer Assets Only on Certain Terms) is hereby amended by deleting the text of Section 801 in its entirety and replacing it with the following text:

“The Company shall not consolidate with or merge with or into, in one transaction or a series of related transactions, any other Person, unless:

(1) the Company shall be the continuing entity, or the resulting or surviving Person (the “Successor”) shall be a Person organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and the Successor (if not the Company) shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all the obligations of the Company under the Securities and this Indenture and, for each Security that by its terms provides for conversion, shall have provided for the right to convert such Security in accordance with its terms;

(2) immediately after giving effect to such transaction, no Default or Event of Default, and no circumstances which, after notice or lapse of time or both, would become an event of default, shall have occurred and be continuing; and

(3) if requested, the Company shall have delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation or merger and such supplemental indenture, if any, complies with this Indenture (except that such Opinion of Counsel need not opine as to clause (2) above).”

(d) The failure to comply (whether before or after the date of this Fourth Supplemental Indenture) with the terms of Section 1003 Base Indenture (except as amended hereby), Sections 4.1, 4.2 or 4.3 of the First Supplemental Indenture, or Section 8.1 of the Base Indenture (except as amended hereby) shall not constitute a Default or Event of Default under the Indenture with respect to the Notes and shall no longer have any consequence under the Indenture with respect to the Notes.

(e) All definitions set forth in Section 101 of the Base Indenture and Section 1.1 of the First Supplemental Indenture that relate to defined terms used solely in the Sections of the Indenture or the First Supplemental Indenture deleted pursuant to the terms of this Fourth Supplemental Indenture are no longer applicable to the Notes.

(f) All references to Sections of the Indenture amended by this Fourth Supplemental Indenture shall be to such Sections as amended by this Fourth Supplemental Indenture.

ARTICLE 3

EFFECTIVENESS

Section 3.1 Effectiveness of this Fourth Supplemental Indenture .

This Fourth Supplemental Indenture shall become valid and binding on the date hereof. The amendments in Article 2 hereof shall not become effective in respect of the Notes

 

3


until the Settlement Date (as defined in the Offering Memorandum and Consent Solicitation Statement) of the BD Exchange Offer with respect to the Notes, which is expected to occur on the closing date of the Bard Acquisition (as defined in the Offering Memorandum and Consent Solicitation Statement). On the date that the amendments set forth in Article 2 become effective, the Company shall provide written notice to the Trustee thereof.

ARTICLE 4

MISCELLANEOUS

Section 4.1 Relation to Original Indenture .

This Fourth Supplemental Indenture supplements the Indenture and shall be a part of and subject to all the terms thereof (and, for the avoidance of doubt, shall be subject to Section 107 of the Base Indenture). Except as supplemented hereby, all of the terms, provisions and conditions of the Indenture and the Notes issued thereunder shall continue in full force and effect. In the event of a conflict between the terms and conditions of the Indenture and the terms and conditions of this Fourth Supplemental Indenture, then the terms and conditions of this Fourth Supplemental Indenture shall prevail.

The Notes include certain of the foregoing provisions from the Indenture. Upon the execution and delivery of this Fourth Supplemental Indenture, such provisions from the Notes shall be deemed deleted or amended, to conform to the terms of this Fourth Supplemental Indenture.

Section 4.2 Governing Law .

This Fourth Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

Section 4.3 Trustee Not Responsible for Recitals .

The recitals herein contained are made by the Company and not by the Trustee, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representation as to the validity or sufficiency of this Fourth Supplemental Indenture.

Section 4.4 Successors .

All agreements of the Company in this Fourth Supplemental Indenture shall bind the Company’s successors. All agreements of the Trustee in this Fourth Supplemental Indenture shall bind the Trustee’s successors.

Section 4.5 Separability .

In case any one or more of the provisions contained in the Indenture, this Fourth Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of the Indenture, this Fourth Supplemental Indenture or the Notes, but the Indenture, this Fourth Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.

 

4


Section 4.6 Counterparts .

This Fourth Supplemental Indenture may be executed in any number of counterparts each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.

Section 4.7 Effect of Headings .

The Article and Section headings herein are for convenience of reference only and shall not affect the construction hereof.

Section 4.8 Entire Agreement .

This Fourth Supplemental Indenture, together with the Indenture as amended hereby and the Notes, contains the entire agreement of the parties with respect to the Notes, and supersedes all other representations, warranties, agreements and understandings between the parties hereto and thereto, oral or otherwise, with respect to the matters contained herein and therein.

Section 4.9 Benefits of Fourth Supplemental Indenture .

Nothing in this Fourth Supplemental Indenture, the Indenture or the Notes, express or implied, shall give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder, any Paying Agent, any Security Registrar and the holders of the Notes, any benefit of any legal or equitable right, remedy or claim under the Indenture, this Fourth Supplemental Indenture or the Notes.

[ signature pages follows ]

 

5


IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed as of the day and year first above written.

 

C. R. BARD, INC.
By:   LOGO
 

 

Name:   Christopher S. Holland
Title:   Senior Vice President and Chief Financial Officer

[Signature Page to Fourth Supplemental Indenture]


WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
By:   Wells Fargo Bank, National Association
By:   LOGO
 

 

Name:   Yana Kislenko
Title:   Vice President

[Signature Page to Fourth Supplemental Indenture]

Exhibit 4.2

C. R. BARD, INC.

and

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

(as successor to The Chase Manhattan Bank, N.A.),

AS TRUSTEE

FIRST SUPPLEMENTAL INDENTURE

Dated as of May 18, 2017

To the Indenture dated as of December 1, 1996

6.700% Notes due 2026


TABLE OF CONTENTS

 

          Page  

ARTICLE 1 DEFINITIONS

     2  

Section 1.1

   Definitions      2  

ARTICLE 2 AMENDMENTS

     2  

Section 2.1

   Certain Amendments to the Indenture      2  

ARTICLE 3 EFFECTIVENESS

     3  

Section 3.1

   Effectiveness of this First Supplemental Indenture      3  

ARTICLE 4 MISCELLANEOUS

     3  

Section 4.1

   Relation to Original Indenture      3  

Section 4.2

   Governing Law      3  

Section 4.3

   Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof      4  

Section 4.4

   Successors and Assigns of Issuer Bound by Indenture      4  

Section 4.5

   Separability      4  

Section 4.6

   Counterparts      4  

Section 4.7

   Effect of Headings      4  

Section 4.8

   Entire Agreement      4  

Section 4.9

   Benefits of First Supplemental Indenture      4  

 

i


FIRST SUPPLEMENTAL INDENTURE

THIS FIRST SUPPLEMENTAL INDENTURE (this “ First Supplemental Indenture ”) is entered into as of May 18, 2017 between C. R. BARD, INC., a New Jersey corporation (the “ Issuer ”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association (as successor to The Chase Manhattan Bank, N.A.), as Trustee (herein called the “ Trustee ”).

WHEREAS, the Issuer and the Trustee entered into that certain Indenture, dated as of December 1, 1996 (the “ Indenture ”), by and between the Issuer and the Trustee, relating to the Issuer’s senior unsecured debt securities;

WHEREAS, pursuant to Section 2.1 of the Indenture, the Issuer and the Trustee established the terms of a series of unsecured debt securities entitled the “6.700% Notes due 2026” (the “ Notes ”);

WHEREAS, Section 8.2 of the Indenture provides that the Issuer and the Trustee may amend certain provisions of the Notes or the Indenture with respect to such series of Notes with the consent of the holders of not less than 66 2/3% in outstanding aggregate principal amount of the Notes;

WHEREAS, Becton, Dickinson and Company, a New Jersey corporation (“ BD ”), has offered to exchange (the “ BD Exchange Offer ”) any and all of the outstanding Notes for cash and new 6.700% Notes due December 1, 2026 of BD, upon the terms and subject to the conditions set forth in the offering memorandum and consent solicitation statement, dated May 5, 2017 (the “ Offering Memorandum and Consent Solicitation Statement ”);

WHEREAS, in connection with the BD Exchange Offer, BD has also solicited, on behalf of the Issuer, consents from the holders of the Notes to certain proposed amendments (the “ Proposed Amendments ”) to the Indenture with respect to the Notes as described in the Offering Memorandum and Consent Solicitation Statement and set forth in Section 2.1 of this First Supplemental Indenture, with the effectiveness of such Proposed Amendments occurring upon the Settlement Date (as defined in the Offering Memorandum and Consent Solicitation Statement) of the BD Exchange Offer with respect to such series of Notes;

WHEREAS, BD has received and caused to be delivered to the Trustee evidence of the consents from holders of at least 66 2/3% of the outstanding aggregate principal amount of the Notes to effect the Proposed Amendments under the Indenture with respect to the Notes;

WHEREAS, the Issuer is undertaking to execute and deliver this First Supplemental Indenture to delete or amend, as applicable, certain provisions and covenants in the Indenture with respect to the Notes in connection with the BD Exchange Offer and the related consent solicitation which deletions and amendments will become effective upon the Settlement Date (as defined in the Offering Memorandum and Consent Solicitation Statement) of the BD Exchange Offer with respect to the Notes; and

WHEREAS, the board of directors of the Issuer has authorized and approved the execution and delivery of this First Supplemental Indenture.


NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, and for the equal and proportionate benefit of the holders of the Notes, the Issuer and the Trustee hereby agree as follows:

ARTICLE 1

DEFINITIONS

Section 1.1 Definitions .

Capitalized terms used in this First Supplemental Indenture and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture.

ARTICLE 2

AMENDMENTS

Section 2.1 Certain Amendments to the Indenture .

Subject to Section 3.1, the Indenture, solely with respect to the Notes, is hereby amended as follows:

(a) Section 4.3 of the Indenture (Reports by the Issuer) is hereby amended by deleting the text of Section 4.3 its entirety and replacing it with the following text:

“The Company will file with the Trustee and the Commission, and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the Trust Indenture Act, at the times and in the manner provided pursuant to the Trust Indenture Act.”

(b) Section 3.6 (Limitation on Liens) and Section 3.7 (Limitation on Sales and Leasebacks) of the Indenture shall be deleted in their entirety.

(c) Section 9.1 of the Indenture (Issuer May Consolidate, etc., on Certain Terms) is hereby amended by deleting the text of Section 9.1 in its entirety and replacing it with the following text:

“The Issuer covenants that it will not merge or consolidate with any other corporation unless (i) either the Issuer shall be the continuing corporation, or the successor corporation shall be a corporation or entity organized under the laws of the United States of America or any state thereof and shall expressly assume the due and punctual payment of the principal of and interest, if any, on all the Securities, according to their tenor, and the due and punctual performance and observance of all of the covenants and conditions of this Indenture to be performed or observed by the Issuer, by supplemental indenture satisfactory to the Trustee, executed and delivered to the Trustee by such corporation or entity, and (ii) the Issuer or such successor corporation or entity, as the case may be, shall not, immediately after such merger or consolidation, be in default in the performance of any such covenant or condition.”

 

2


(d) The failure to comply (whether before or after the date of this First Supplemental Indenture) with the terms of Section 4.3 (except as amended hereby), Sections 3.6 or 3.7, or Section 9.1 (except as amended hereby) of the Indenture shall not constitute a Default or Event of Default under the Indenture with respect to the Notes and shall no longer have any consequence under the Indenture with respect to the Notes.

(e) All definitions set forth in Section 1.1 of the Indenture that relate to defined terms used solely in the Sections of the Indenture deleted pursuant to the terms of this First Supplemental Indenture are no longer applicable to the Notes.

(f) All references to Sections of the Indenture amended by this First Supplemental Indenture shall be to such Sections as amended by this First Supplemental Indenture.

ARTICLE 3

EFFECTIVENESS

Section 3.1 Effectiveness of this First Supplemental Indenture .

This First Supplemental Indenture shall become valid and binding on the date hereof. The amendments in Article 2 hereof shall not become effective in respect of the Notes until the Settlement Date (as defined in the Offering Memorandum and Consent Solicitations Statement) of the BD Exchange Offer with respect to the Notes, which is expected to occur on the closing date of the Bard Acquisition (as defined in the Offering Memorandum and Consent Solicitation Statement). On the date that the amendments set forth in Article 2 become effective, the Issuer shall provide written notice to the Trustee thereof.

ARTICLE 4

MISCELLANEOUS

Section 4.1 Relation to Original Indenture .

This First Supplemental Indenture supplements the Indenture and shall be a part of and subject to all the terms thereof (and, for the avoidance of doubt, shall be subject to Section 11.7 of the Indenture). Except as supplemented hereby, all of the terms, provisions and conditions of the Indenture and the Notes issued thereunder shall continue in full force and effect. In the event of a conflict between the terms and conditions of the Indenture and the terms and conditions of this First Supplemental Indenture, then the terms and conditions of this First Supplemental Indenture shall prevail.

The Notes include certain of the foregoing provisions from the Indenture. Upon the execution and delivery of this First Supplemental Indenture, such provisions from the Notes shall be deemed deleted or amended, to conform to the terms of this First Supplemental Indenture.

Section 4.2 Governing Law .

The laws of the State of New York (without regard to conflicts of laws principles thereof) shall govern this First Supplemental Indenture.

 

3


Section 4.3 Trustee Not Responsible for Recitals, Disposition of Securities or Application of Proceeds Thereof .

The recitals contained herein shall be taken as the statements of the Issuer, and the Trustee assumes no responsibility for the correctness of the same. The Trustee makes no representation as to the validity or sufficiency of this First Supplemental Indenture.

Section 4.4 Successors and Assigns of Issuer Bound by Indenture .

All the covenants, stipulations promises and agreements in this First Supplemental Indenture contained by or on behalf of the Issuer shall bind its successor and assigns, whether so expressed or not.

Section 4.5 Separability .

In case any one or more of the provisions contained in the Indenture, this First Supplemental Indenture or the Notes shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of the Indenture, this First Supplemental Indenture or the Notes, but the Indenture, this First Supplemental Indenture and the Notes shall be construed as if such invalid or illegal or unenforceable provision had never been contained herein or therein.

Section 4.6 Counterparts .

This First Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute one and the same instrument.

Section 4.7 Effect of Headings .

The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof.

Section 4.8 Entire Agreement .

This First Supplemental Indenture, together with the Indenture as amended hereby and the Notes, contains the entire agreement of the parties with respect to the Notes, and supersedes all other representations, warranties, agreements and understandings between the parties hereto and thereto, oral or otherwise, with respect to the matters contained herein and therein.

Section 4.9 Benefits of First Supplemental Indenture .

Nothing in this First Supplemental Indenture, the Indenture or the Notes, express or implied, shall give to any Person, other than the parties hereto and thereto and their successors hereunder and thereunder, any Paying Agent, any Security registrar and the holders of the Notes, any benefit of any legal or equitable right, remedy or claim under the Indenture, this First Supplemental Indenture or the Notes.

[ signature pages follows ]

 

4


IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed as of the day and year first above written.

 

C. R. BARD, INC.
By:   LOGO
Name:   Christopher S. Holland
Title:   Senior Vice President and Chief Financial Officer

[Signature Page to First Supplemental Indenture]


THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
By:   LOGO
Name:   Valere Boyd
Title:   Vice President

[Signature Page to First Supplemental Indenture]