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): October 18, 2021
THERMO FISHER SCIENTIFIC INC.
(Exact name of Registrant as specified in its Charter)
Delaware | 1-8002 | 04-2209186 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
168 Third Avenue
Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (781) 622-1000
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 (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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Common Stock, $1.00 par value | TMO | New York Stock Exchange | ||
0.750% Notes due 2024 | TMO 24A | New York Stock Exchange | ||
0.125% Notes due 2025 | TMO 25B | New York Stock Exchange | ||
2.000% Notes due 2025 | TMO 25 | New York Stock Exchange | ||
1.400% Notes due 2026 | TMO 26A | New York Stock Exchange | ||
1.450% Notes due 2027 | TMO 27 | New York Stock Exchange | ||
1.750% Notes due 2027 | TMO 27B | New York Stock Exchange | ||
0.500% Notes due 2028 | TMO 28A | New York Stock Exchange | ||
1.375% Notes due 2028 | TMO 28 | New York Stock Exchange | ||
1.950% Notes due 2029 | TMO 29 | New York Stock Exchange | ||
0.875% Notes due 2031 | TMO 31 | New York Stock Exchange | ||
2.375% Notes due 2032 | TMO 32 | New York Stock Exchange | ||
2.875% Notes due 2037 | TMO 37 | New York Stock Exchange | ||
1.500% Notes due 2039 | TMO 39 | New York Stock Exchange | ||
1.875% Notes due 2049 | TMO 49 | New York Stock Exchange |
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 October 18, 2021, Thermo Fisher Scientific (Finance I) B.V. (“Thermo Fisher International”), an indirect, wholly-owned finance subsidiary of Thermo Fisher Scientific Inc. (the “Company”), issued €1,750,000,000 aggregate principal amount of 0.800% Senior Notes due 2030 (the “2030 Notes”), €1,500,000,000 aggregate principal amount of 1.125% Senior Notes due 2033 (the “2033 Notes”), €1,250,000,000 aggregate principal amount of 1.625% Senior Notes due 2041 (the “2041 Notes”) and €750,000,000 aggregate principal amount of 2.000% Senior Notes due 2051 (the “2051 Notes”, and, together with the 2030 Notes, the 2033 Notes and the 2041 Notes, the “Notes”) in a public offering (the “Offering”) pursuant to a registration statement on Form S-3 (File No. 333-229951) and a preliminary prospectus supplement and prospectus supplement related to the offering of the Notes, each as previously filed with the Securities and Exchange Commission (the “SEC”). The Company has fully and unconditionally guaranteed the Notes on a senior unsecured basis (the “Guarantee” and, together with the Notes, the “Securities”).
The Securities were issued under an indenture, dated as of August 9, 2016 (the “Base Indenture”), and the Third Supplemental Indenture, dated as of October 18, 2021 (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”), among Thermo Fisher International, as issuer, the Company, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee.
Prior to July 18, 2030, in the case of the 2030 Notes, July 18, 2033, in the case of the 2033 Notes, April 18, 2041, in the case of the 2041 Notes and April 18, 2051, in the case of the 2051 Notes (each such date, a “Par Call Date”), Thermo Fisher International may redeem the Notes of any such series, in whole at any time or in part from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes to be redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest in respect of the Notes being redeemed (not including any portion of the payments of interest accrued but unpaid as of the date of redemption and assuming that such Notes to be redeemed matured on their applicable Par Call Date), discounted to the date of redemption on an annual basis (ACTUAL/ACTUAL (ICMA)), using a discount rate equal to the Comparable Bond Rate (as defined in the Indenture) plus 20 basis points, in the case of the 2030 Notes, 20 basis points, in the case of the 2033 Notes, 25 basis points, in the case of the 2041 Notes and 30 basis points, in the case of the 2051 Notes, plus in each case, accrued and unpaid interest on the Notes being redeemed, if any, to, but excluding, the date of redemption.
In addition, on and after the applicable Par Call Date, the Company may redeem the Notes of any series, in whole at any time or in part from time to time, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption.
Upon the occurrence of a change of control (as defined in the Indenture) of the Company and a contemporaneous downgrade of the Notes below an investment grade rating by at least two of Moody’s Investors Service, Inc., S&P Global Ratings, a division of S&P Global, Inc., and Fitch Ratings Limited, Thermo Fisher International will, in certain circumstances, be required to make an offer to purchase the Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase.
The Notes are general unsecured obligations of Thermo Fisher International. The Notes rank equally in right of payment with existing and any future unsecured and unsubordinated indebtedness of Thermo Fisher International and rank senior in right of payment to any existing and future indebtedness of Thermo Fisher International that is subordinated to the Notes. The Notes are also effectively subordinated to any existing and future secured indebtedness of Thermo Fisher International to the extent of the assets securing such indebtedness, and are structurally subordinated to all existing and any future indebtedness and any other liabilities of its subsidiaries.
The Guarantee is a general unsecured obligation of the Company. The Guarantee ranks equally in right of payment with existing and any future unsecured and unsubordinated indebtedness of the Company and will rank senior in right of payment to any existing and future indebtedness of the Company that is subordinated to the Guarantee. The Guarantee is also effectively subordinated to any existing and future secured indebtedness of the Company to the extent of the assets securing such indebtedness, and is structurally subordinated to all existing and any future indebtedness and any other liabilities of its subsidiaries (other than, with respect to Thermo Fisher International, the Notes).
The Indenture contains limited affirmative and negative covenants of the Company and Thermo Fisher International. The negative covenants restrict the ability of the Company and its subsidiaries to incur debt secured by liens on Principal Properties (as defined in the Indenture) or on shares of stock of the Company’s Principal Subsidiaries (as defined in the Indenture) and engage in sale and lease-back transactions with respect to any Principal Property. The Indenture also limits the ability of each of the Company and Thermo Fisher International to merge or consolidate or sell all or substantially all of their respective assets.
Upon the occurrence of an event of default under the Indenture, which includes payment defaults, defaults in the performance of affirmative and negative covenants, bankruptcy and insolvency related defaults and failure to pay certain indebtedness, the obligations of Thermo Fisher International under the Notes may be accelerated, in which case the entire principal amount of the Notes would be immediately due and payable.
Wilmer Cutler Pickering Hale and Dorr LLP, U.S. counsel to the Company and Thermo Fisher International, has issued an opinion to the Company and Thermo Fisher International, dated October 18, 2021, regarding the legality of the Securities, and Linklaters LLP, Dutch counsel to Thermo Fisher International, has issued an opinion to Thermo Fisher International, dated October 18, 2021, regarding the Notes. Copies of these opinions are filed as Exhibits 5.1 and 5.2 hereto, respectively.
The foregoing description of certain of the terms of the Indenture does not purport to be complete and is qualified in its entirety by reference to the full text of each of the Base Indenture and the Supplemental Indenture, which are filed with this report as Exhibits 4.1 and 4.2 hereto, respectively. Each of the foregoing documents is incorporated herein by reference.
Item 8.01. |
Other Events. |
The sale of the Securities was made pursuant to the terms of an Underwriting Agreement, dated October 6, 2021 (the “Underwriting Agreement”), among Thermo Fisher International, as issuer, the Company, as parent guarantor, and Barclays Bank PLC, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH as lead managers of the several underwriters named in Schedule A to the Underwriting Agreement.
The Company expects that the net proceeds from the sale of the Notes will be approximately €5.18 billion, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds of the Offering to pay a portion of the cash consideration payable for the previously announced acquisition of PPD, Inc (the “PPD Acquisition”). The PPD Acquisition is subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals. Pending completion of the PPD Acquisition, the Company may also determine to use a portion of the net proceeds of the Offering for general corporate purposes, which may include the acquisition of companies or businesses, repayment and refinancing of debt, working capital and capital expenditures or the repurchase of its outstanding equity securities or the Company may temporarily invest the net proceeds in short-term, liquid investments until they are used for their ultimate purpose.
The foregoing description is qualified in its entirety by reference to the full text of the Underwriting Agreement, which is filed with this report as Exhibit 1.1 hereto and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about the Company’s intended use of proceeds and the PPD Acquisition. Additional important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the quarters ended April 3, 2021 and July 3, 2021, each of which is on file with the U.S. Securities and Exchange Commission (“SEC”) and available in the “Investors” section of the Company’s website, ir.thermofisher.com, under the heading “SEC Filings,” and in any subsequent Quarterly Reports on Form 10-Q and other documents the Company files with the SEC. While the Company may elect to update forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, even if estimates change and, therefore, you should not rely on these forward-looking statements as representing the Company’s views as of any date subsequent to the date of this communication.
SIGNATURES
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.
THERMO FISHER SCIENTIFIC INC. | ||||||
Date: October 18, 2021 | By: |
/s/ Michael A. Boxer |
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Michael A. Boxer | ||||||
Senior Vice President and General Counsel |
Exhibit 1.1
Execution Copy
THERMO FISHER SCIENTIFIC (FINANCE I) B.V.,
as Issuer
THERMO FISHER SCIENTIFIC INC.,
as Parent Guarantor
1,750,000,000
0.800% Senior Notes due 2030
1,500,000,000
1.125% Senior Notes due 2033
1,250,000,000
1.625% Senior Notes due 2041
750,000,000
2.000% Senior Notes due 2051
UNDERWRITING AGREEMENT
October 6, 2021
Barclays Bank PLC
Morgan Stanley Europe SE
BofA Securities Europe SA
Citigroup Global Markets Europe AG
Mizuho Securities Europe GmbH
Underwriting Agreement
BARCLAYS BANK PLC
MORGAN STANLEY EUROPE SE
BOFA SECURITIES EUROPE SA
CITIGROUP GLOBAL MARKETS EUROPE AG
MIZUHO SECURITIES EUROPE GMBH
As Lead Managers of the several Underwriters named in Schedule A hereto
c/o BARCLAYS BANK PLC
5 The North Colonnade
Canary Wharf
London E14 4BB
United Kingdom
c/o MORGAN STANLEY EUROPE SE
Grosse Gallusstrasse 18
60312 Frankfurt am Main
Germany
c/o BOFA SECURITIES EUROPE SA
51 rue la Boétie
75008 Paris
France
c/o CITIGROUP GLOBAL MARKETS EUROPE AG
Reuterweg 16
60323 Frankfurt am Main
Germany
c/o MIZUHO SECURITIES EUROPE GMBH
Taunustor 1
60310 Frankfurt am Main
Germany
Ladies and Gentlemen:
Introductory. Thermo Fisher Scientific (Finance I) B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated and existing under the laws of The Netherlands, with its corporate seat (statutaire zetel) at Breda, The Netherlands (the Issuer) and an indirect, wholly-owned subsidiary of Thermo Fisher Scientific Inc., a Delaware corporation (the Parent Guarantor), proposes to issue and sell to the several underwriters named in Schedule A hereto (the Underwriters), acting severally and not jointly, the respective amounts set forth in Schedule A of 1,750,000,000 aggregate principal amount of the Issuers 0.800% Senior Notes due 2030 (the 2030 Notes), 1,500,000,000 aggregate principal amount of the Issuers 1.125% Senior Notes due 2033 (the 2033 Notes), 1,250,000,000 aggregate principal amount of the Issuers 1.625% Senior Notes due 2041 (the 2041 Notes), and 750,000,000 aggregate principal amount of the Issuers 2.000% Senior Notes
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due 2051 (the 2051 Notes and, collectively with the 2030 Notes, the 2033 Notes and the 2041 Notes, the Notes). Barclays Bank PLC, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH have agreed to act as lead managers of the several Underwriters (in such capacity, the Lead Managers) in connection with the offering and sale of the Securities (as defined below).
The 2030 Notes, the 2033 Notes, the 2041 Notes and the 2051 Notes, will be issued as separate series of senior debt securities pursuant to an indenture, dated as of August 9, 2016 (the Base Indenture), among the Issuer, the Parent Guarantor and The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee). Certain terms of the Securities will be established pursuant to a third supplemental indenture (the Supplemental Indenture), to be dated as of October 18, 2021, among the Issuer, the Parent Guarantor and the Trustee, to the Base Indenture (together with the Base Indenture, the Indenture). Pursuant to the Indenture, the Parent Guarantor has agreed to irrevocably and unconditionally guarantee on a senior basis (the Guarantees and, together with the Notes, the Securities), to each holder of Notes, (i) the full and prompt payment of the principal of and any premium, if any, on any Notes when and as the same shall become due, whether at the maturity thereof, by acceleration, redemption or otherwise and (ii) the full and prompt payment of any interest on any Notes when and as the same shall become due and payable.
The Parent Guarantor has prepared and filed with the Securities and Exchange Commission (the Commission) an automatic shelf registration statement on Form S-3 (File No. 333-229951), which contains a base prospectus, dated February 28, 2019 (the Base Prospectus), to be used in connection with the public offering and sale of debt securities of the Issuer, including the Notes, guarantees of the Parent Guarantor, including the Guarantees, and other securities of the Parent Guarantor, under the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder (collectively, the Securities Act), and the offering thereof from time to time in accordance with Rule 415 under the Securities Act. Such registration statement, as amended, including the financial statements, exhibits and schedules thereto, the documents incorporated by reference therein and any required information deemed to be a part thereof at the time of effectiveness pursuant to Rule 430B under the Securities Act, is called the Registration Statement. The term Prospectus shall mean the final prospectus supplement relating to the Securities, together with the Base Prospectus, that is first filed pursuant to Rule 424(b) after the date and time that this Agreement is executed (the Execution Time) by the parties hereto. The term Preliminary Prospectus shall mean any preliminary prospectus supplement relating to the Securities, together with the Base Prospectus, that is first filed with the Commission pursuant to Rule 424(b). Any reference herein to the Registration Statement, the Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents that are or are deemed to be incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act prior to 12:45 p.m. (New York City time) on October 6, 2021 (the Initial Sale Time). All references in this Agreement to the Registration Statement, the Preliminary Prospectus, the Prospectus, or any amendments or supplements to any of the foregoing, shall include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval System (EDGAR).
All references in this Agreement to financial statements and schedules and other information which is disclosed, contained, included or stated (or other references of like
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import) in the Registration Statement, the Prospectus or the Preliminary Prospectus shall be deemed to mean and include all such financial statements and schedules and other information which is or is deemed to be incorporated by reference in the Registration Statement, the Prospectus or the Preliminary Prospectus, as the case may be, prior to the Initial Sale Time; and all references in this Agreement to amendments or supplements to the Registration Statement, the Prospectus or the Preliminary Prospectus shall be deemed to include the filing of any document under the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (collectively, the Exchange Act), which is or is deemed to be incorporated by reference in the Registration Statement, the Prospectus or the Preliminary Prospectus, as the case may be, after the Initial Sale Time.
Each series of the Notes will be issued in the form of a global note in registered form (the Global Note) registered in the name of a nominee of a common safekeeper (CSK) located outside the United States for Clearstream Banking, S.A. (Clearstream), or Euroclear Bank SA/NV, as operator of the Euroclear System (Euroclear). Each Global Note will be issued under the New Safekeeping Structure and is intended to be held in a manner that would allow eligibility as collateral for Eurosystem intra-day credit and monetary policy operations. In connection with the issuance of each series of the Notes, the Issuer will enter into an international central securities depositaries agreement, to be dated as of the Closing Date (the ICSD Agreement), with Euroclear and Clearstream. The Notes will be issued in denominations of 100,000 and integral multiples of 1,000 in excess thereof.
Each of the Parent Guarantor and the Issuer hereby confirms its agreements with the several Underwriters as follows:
Section 1. Representations and Warranties
Each of the Parent Guarantor and the Issuer, jointly and severally, hereby represents, warrants and covenants to each of the Underwriters as of the date hereof, as of the Initial Sale Time and as of the Closing Date (in each case, a Representation Date), as follows:
a) Compliance with Registration Requirements. Each of the Parent Guarantor and the Issuer meets the requirements for use of Form S-3 under the Securities Act. The Registration Statement has become effective under the Securities Act and no stop order suspending the effectiveness of the Registration Statement has been issued under the Securities Act and no proceedings for that purpose have been instituted or are pending or, to the knowledge of the Parent Guarantor or the Issuer, are contemplated or threatened by the Commission, and any request on the part of the Commission for additional information has been complied with. In addition, the Indenture has been duly qualified under the Trust Indenture Act of 1939, as amended, and the rules and regulations promulgated thereunder (the Trust Indenture Act).
At the respective times the Registration Statement and any post-effective amendments thereto became effective and at each Representation Date, the Registration Statement and any amendments thereto (i) complied and will comply in all material respects with the requirements of the Securities Act and the Trust Indenture Act, and (ii) did not and will not contain any 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. At the date of the Prospectus and at the Closing
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Date, neither the Prospectus nor any amendments or supplements thereto included or will include an untrue statement of a material fact or omitted or will omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Notwithstanding the foregoing, the representations and warranties in this subsection shall not apply to statements in or omissions from the Registration Statement or any post-effective amendment or the Prospectus or any amendments or supplements thereto made in reliance upon and in conformity with any Underwriter Information (as defined in Section 8(b)).
Each Preliminary Prospectus and the Prospectus, at the time each was filed with the Commission, complied in all material respects with the Securities Act, and the Preliminary Prospectus and the Prospectus delivered to the Underwriters for use in connection with the offering of the Securities will, at the time of such delivery, be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.
b) Disclosure Package. The term Disclosure Package shall mean (i) the Preliminary Prospectus, dated October 4, 2021, filed with the Commission on October 4, 2021 (ii) the issuer free writing prospectuses, as defined in Rule 433 of the Securities Act (each, an Issuer Free Writing Prospectus), if any, identified in Annex I(a) hereto and (iii) any other free writing prospectus that the parties hereto shall hereafter expressly agree in writing to treat as part of the Disclosure Package. As of the Initial Sale Time, the Disclosure Package did not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from the Disclosure Package based upon and in conformity with any Underwriter Information.
c) Incorporated Documents. The documents incorporated or deemed to be incorporated by reference in the Registration Statement, the Preliminary Prospectus or the Prospectus (i) at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange Act and (ii) when read together with the other information in the Disclosure Package, at the Initial Sale Time, and when read together with the other information in the Prospectus, at the date of the Prospectus and at the Closing Date, did not and will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
d) Well-Known Seasoned Issuer. (i) At the time of filing the Registration Statement, (ii) at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether such amendment was by post-effective amendment, incorporated report filed pursuant to Sections 13 or 15(d) of the Exchange Act or form of prospectus), (iii) at the time the Parent Guarantor or Issuer or any person acting on either the Parent Guarantors or the Issuers behalf (within the meaning, for this clause only, of Rule 163(c) of the Securities Act) made any offer relating to the Securities in reliance on the exemption of Rule 163 of the Securities Act, and (iv) as of the Execution Time, the Parent Guarantor was and is a well known seasoned issuer as defined in Rule 405 of the Securities Act. The Registration Statement is an automatic shelf registration statement, as defined in Rule 405 of the Securities Act, that automatically became effective not more than three years prior to the Execution Time;
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neither the Parent Guarantor nor the Issuer has received from the Commission any notice pursuant to Rule 401(g)(2) of the Securities Act objecting to use of the automatic shelf registration statement form and neither the Parent Guarantor nor the Issuer has otherwise ceased to be eligible to use the automatic shelf registration statement form.
e) Ineligible Issuer. (i) At the time of filing the Registration Statement and (ii) as of the Execution Time (with such date being used as the determination date for purposes of this clause (ii)), neither the Parent Guarantor nor the Issuer was or is an Ineligible Issuer (as defined in Rule 405 of the Securities Act), without taking account of any determination by the Commission pursuant to Rule 405 of the Securities Act that it is not necessary that either the Parent Guarantor or the Issuer be considered an Ineligible Issuer.
f) Issuer Free Writing Prospectuses. Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the offering of Securities under this Agreement or until any earlier date that the Parent Guarantor or the Issuer notified or notifies the Lead Managers as described in the next sentence, did not, does not and will not include any information that conflicted, conflicts or will conflict with the information contained in the Registration Statement, the Preliminary Prospectus or the Prospectus. If at any time following issuance of an Issuer Free Writing Prospectus there occurred or occurs an event or development as a result of which such Issuer Free Writing Prospectus conflicted or would conflict with the information contained in the Registration Statement, the Preliminary Prospectus or the Prospectus, the Parent Guarantor or the Issuer has promptly notified or will promptly notify the Lead Managers and has promptly amended or supplemented or will promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict. The foregoing two sentences do not apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with any Underwriter Information.
g) Distribution of Offering Material By the Parent Guarantor and the Issuer. Neither the Parent Guarantor nor the Issuer has distributed, or will distribute, prior to the later of the Closing Date and the completion of the Underwriters distribution of the Securities, any offering material in connection with the offering and sale of the Securities other than the Registration Statement, the Preliminary Prospectus, the Prospectus, any Issuer Free Writing Prospectus reviewed and consented to by the Lead Managers and included in Annex I hereto or any electronic road show or other written communications reviewed and consented to by the Lead Managers and listed on Annex II hereto (collectively, Additional Written Communication). Each such Additional Written Communication and each such Issuer Free Writing Prospectus, when taken together with the Disclosure Package, did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The preceding sentence does not apply to statements in or omissions from each such Additional Written Communication and each such Issuer Free Writing Prospectus based upon and in conformity with any Underwriter Information.
h) No Applicable Registration or Other Similar Rights. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been duly waived.
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i) ICSD Agreement. Each ICSD Agreement has been duly authorized by the Issuer and, when duly executed and delivered by the parties thereto, will constitute a valid and legally binding agreement of the Issuer enforceable against the Issuer in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.
j) The Underwriting Agreement. This Agreement has been duly authorized, executed and delivered by the Parent Guarantor and the Issuer.
k) Authorization of the Indenture. The Indenture has been duly qualified under the Trust Indenture Act; the Base Indenture has been duly authorized, executed and delivered by the Parent Guarantor and the Issuer and constitutes a valid and binding agreement of the Parent Guarantor and the Issuer, enforceable against the Parent Guarantor and the Issuer in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles; and the Supplemental Indenture has been duly authorized by each of the Parent Guarantor and the Issuer and, when executed and delivered by the Parent Guarantor, the Issuer and the Trustee, will constitute a valid and binding agreement of the Parent Guarantor and the Issuer, enforceable against each of the Parent Guarantor and the Issuer in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.
l) Authorization of the Notes. The Notes to be purchased by the Underwriters from the Issuer have been duly authorized for issuance and sale pursuant to this Agreement and the Indenture, and, at the Closing Date, will be in the forms contemplated by the Indenture and will have been duly executed by the Issuer and, when issued and authenticated and duly effectuated by the relevant CSK in the manner provided for in the Indenture and delivered against payment of the purchase price therefor, will constitute valid and binding obligations of the Issuer, enforceable against the Issuer in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles, and will be entitled to the benefits of the Indenture. The form of the Notes shall comply with applicable requirements of the European Central Bank in relation to instruments intended to be eligible collateral for Eurosystem intra-day credit and monetary policy operations.
m) Authorization of Guarantees. The Guarantees are in the forms contemplated by the Indenture and has been duly authorized for issuance by the Parent Guarantor pursuant to this Agreement and the Indenture and, when the Notes are executed and authenticated in accordance with the provisions of the Indenture and the Guarantees are executed and delivered in accordance with the provisions of the Indenture, the Guarantees will constitute the valid and binding obligations of the Parent Guarantor, enforceable against the Parent Guarantor in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.
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n) Description of the Securities and the Indenture. The Securities and the Indenture conform or will conform, as the case may be, in all material respects to the descriptions thereof contained in the Disclosure Package and the Prospectus.
o) No Material Adverse Change. Except as otherwise disclosed in the Disclosure Package, subsequent to the respective dates as of which information is given in the Disclosure Package, (i) neither the Parent Guarantor nor any of its subsidiaries has sustained any loss or interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, other than any such loss or interference that would not reasonably be expected to result in a Material Adverse Change (as defined below); and (ii) there has been no material adverse change, or any development that could reasonably be expected to result in a material adverse change, in the business, properties, management, financial position, stockholders equity, results of operations or prospects of the Parent Guarantor and its subsidiaries, considered as one entity (any such change is called a Material Adverse Change).
p) Independent Accountants. PricewaterhouseCoopers LLP, who have expressed their opinion with respect to the Parent Guarantors audited financial statements for the fiscal years ended December 31, 2018, 2019 and 2020 incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus, are independent public accountants with respect to the Parent Guarantor as required by the Exchange Act and are an independent public accounting firm registered with the Public Company Accounting Oversight Board.
q) Preparation of the Financial Statements. The financial statements together with the related notes thereto incorporated by reference in the Registration Statement, the Disclosure Package and the Prospectus comply in all material respects with the applicable requirements of the Securities Act and the Exchange Act, as applicable, and present fairly in all material respects the consolidated financial position of the Parent Guarantor and its consolidated subsidiaries as of and at the dates indicated and the consolidated results of their operations and consolidated cash flows for the periods specified. Such financial statements have been prepared in conformity with generally accepted accounting principles (GAAP) as applied in the United States applied on a consistent basis throughout the periods involved, except as described in the related notes thereto. The other historical financial information included in the Disclosure Package and the Prospectus has been derived from the accounting records of the Parent Guarantor and its consolidated subsidiaries or from other records of the Parent Guarantor or from third parties that the Parent Guarantor believes are reliable and presents fairly the information shown thereby.
r) Incorporation and Good Standing of Issuer. The Issuer has been duly incorporated and exists as a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) under the laws of The Netherlands, with corporate power to own or lease, as the case may be, and operate its properties and conduct its business as described in the Disclosure Package and the Prospectus and to enter into and perform its obligations under this Agreement. The Issuer is duly qualified as a foreign corporation to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions where the failure to so qualify or to be in good standing would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
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s) Incorporation and Good Standing of the Parent Guarantor and its Subsidiaries. Each of the Parent Guarantor and its significant subsidiaries (as defined in Rule 1-02(w) of Regulation S-X, the Significant Subsidiaries) has been duly incorporated or formed and is validly existing as a corporation, limited liability company, partnership or other legal entity in good standing under the laws of the jurisdiction of its incorporation or formation and each has corporate, limited liability company, partnership or other power and authority to own or lease, as the case may be, and operate its properties and to conduct its business as described in the Disclosure Package and the Prospectus and, in the case of the Parent Guarantor, to enter into and perform its obligations under this Agreement. Each of the Parent Guarantor and each Significant Subsidiary is duly qualified as a foreign corporation, limited liability company, partnership or other legal entity to transact business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions where the failure to so qualify or to be in good standing would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. All of the issued and outstanding shares of capital stock or other equity interests of the Issuer and each Significant Subsidiary have been duly authorized and validly issued, are fully paid and non-assessable and are owned directly or indirectly by the Parent Guarantor, free and clear of any security interest, mortgage, pledge, lien, encumbrance, restriction on voting or transfer or any other claim of any third party (except, in the case of any foreign subsidiary, for directors qualifying shares and except as otherwise disclosed in or contemplated by the Disclosure Package and the Prospectus). The Parent Guarantor does not have any material subsidiary not listed on Exhibit 21 to the Annual Report on Form 10-K for the year ended December 31, 2020 that would be required to be so listed if such Annual Report on Form 10-K were filed on the date of this Agreement.
t) Capitalization and Other Capital Stock Matters. The authorized, issued and outstanding capital stock of the Parent Guarantor is as set forth in the Parent Guarantors Quarterly Report on Form 10-Q filed on August 6, 2021, which is incorporated by reference into the Disclosure Package and the Prospectus (other than, with respect to issued and outstanding capital stock, share repurchases by the Parent Guarantor and subsequent issuances of capital stock, if any, pursuant to equity incentive plans described in the Disclosure Package and the Prospectus or upon exercise of outstanding options or other equity awards or conversion of convertible debentures described in the Disclosure Package and the Prospectus, as the case may be, and except for other immaterial variances).
u) Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required. (i) None of the Parent Guarantor, the Issuer or any of the Significant Subsidiaries is in violation of its charter, by-laws or similar organizational documents, (ii) neither the Parent Guarantor nor any of its subsidiaries is in default, and no event has occurred that, with notice or lapse of time or both, would constitute a default (Default) under any indenture, mortgage, loan or credit agreement, deed of trust, note, contract, franchise, lease or other agreement, obligation, condition, covenant or instrument to which the Parent Guarantor or any of its subsidiaries is a party or by which it or any of them may be bound or to which any of the property or assets of the Parent Guarantor or any of its subsidiaries is subject (each, an Existing Instrument) and (iii) neither the Parent Guarantor nor any of its subsidiaries is in violation of any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over
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the Parent Guarantor or any of its subsidiaries or any of its or their properties, as applicable, except, with respect to clauses (ii) and (iii) only, for such Defaults or violations as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. The Parent Guarantors and the Issuers execution, delivery and performance of this Agreement and the transactions contemplated hereby, by the Disclosure Package and by the Prospectus (i) have been duly authorized by all necessary corporate or limited liability company action and will not result in any violation of the articles of incorporation, charter or by-laws or other organizational documents of the Parent Guarantor or any of its subsidiaries, (ii) will not conflict with or constitute a breach of, or Default or a Debt Repayment Triggering Event (as defined below) under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Parent Guarantor or any of its subsidiaries pursuant to, or require the consent of any other party to, any Existing Instrument, and (iii) will not result in any violation of any statute, law, rule, regulation, judgment, order or decree applicable to the Parent Guarantor or any of its subsidiaries of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Parent Guarantor or any of its subsidiaries or any of its or their properties, except, with respect to clauses (ii) and (iii) only, as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change and would not prevent the Parent Guarantor or the Issuer from performing its obligations under this Agreement and the transactions contemplated hereby. No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency is required for the Parent Guarantors or the Issuers execution, delivery and performance of this Agreement and the transactions contemplated hereby, by the Disclosure Package or by the Prospectus, except such as may be required by the securities laws of foreign jurisdictions or have been obtained or made by the Parent Guarantor or the Issuer and are in full force and effect under the Securities Act, applicable state securities or blue sky laws and from the Financial Industry Regulatory Authority (the FINRA). As used herein, a Debt Repayment Triggering Event means any event or condition which gives, or with the giving of notice or lapse of time or both would give, the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holders behalf) issued by the Parent Guarantor or the Issuer, the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Parent Guarantor or any of its subsidiaries.
v) No Material Actions or Proceedings. Except as disclosed in the Disclosure Package and the Prospectus, there are no legal or governmental actions, suits or proceedings pending or, to the Parent Guarantors or the Issuers knowledge, threatened (i) against or affecting the Parent Guarantor or any of its subsidiaries, (ii) which has as the subject thereof any property owned or leased by, the Parent Guarantor or any of its subsidiaries or (iii) relating to environmental or discrimination matters related to the Parent Guarantor or its subsidiaries, in each case, where any such action, suit or proceeding, if determined adversely, would reasonably be expected to, individually or in the aggregate, result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement.
w) Labor Matters. No labor disturbance by or imminent dispute with employees of the Parent Guarantor or any of its subsidiaries exists or, to the knowledge of the Parent Guarantor or the Issuer, is contemplated or threatened, except any such disturbances or disputes that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
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x) Intellectual Property Rights. Except as set forth in the Disclosure Package and the Prospectus, to the Parent Guarantors or the Issuers knowledge, (i) the Parent Guarantor and its subsidiaries own, possess or can acquire on reasonable terms adequate rights to use all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures) (collectively, Intellectual Property Rights) necessary for the conduct of their respective businesses as described in the Disclosure Package and the Prospectus, except any such failures to own or possess the right to use such Intellectual Property Rights that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; (ii) the conduct of their respective businesses does not conflict in any material respect with any Intellectual Property Rights of others, except any such conflicts that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; and (iii) the Parent Guarantor and its subsidiaries have not received any actual notice of any claim of infringement of or conflict with the asserted Intellectual Property Rights of others, except any such claims that would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
y) All Necessary Permits, etc. The Parent Guarantor, the Issuer and each Significant Subsidiary possess such valid and current certificates, authorizations, permits, licenses, approvals, consents and other authorizations issued by the appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct their respective businesses, except where the failure to possess the same would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change, and none of the Parent Guarantor, the Issuer or any Significant Subsidiary has received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization, permit, license, approval, consent or other authorization which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to result in a Material Adverse Change.
z) Title to Properties. Except as otherwise disclosed in the Disclosure Package and the Prospectus, the Parent Guarantor and its subsidiaries have good and marketable title in fee simple to, or have valid rights to lease or otherwise use, all items of real and personal property that are material to the Parent Guarantor and its subsidiaries taken as a whole, in each case free and clear of all liens, encumbrances, claims and defects and imperfections of title, except those that do not materially interfere with the use made and proposed to be made of such property by the Parent Guarantor and its subsidiaries or would not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Change.
aa) Tax Law Compliance. The Parent Guarantor and its subsidiaries have filed all tax returns material to the Parent Guarantor and its subsidiaries, taken as a whole, required to be filed through the date hereof and paid all taxes shown as due thereon, except for taxes being contested in good faith and for which adequate reserves have been established in accordance with generally accepted accounting principles; and, except as otherwise disclosed in the Disclosure Package and the Prospectus, there is no tax deficiency material to the Parent Guarantor and its subsidiaries, taken as a whole, that has been, or would reasonably be expected to be, asserted against the Parent Guarantor or any of its subsidiaries or any of their respective properties or assets.
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bb) Neither the Parent Guarantor nor the Issuer is an Investment Company. Neither the Parent Guarantor nor the Issuer is and, after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as contemplated under the caption Use of Proceeds in the Disclosure Package and the Prospectus, will not be, required to register as an investment company within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder.
cc) Insurance. The Parent Guarantor and its subsidiaries, taken as a whole, carry, or are entitled to the benefits of, insurance covering their respective properties, operations, personnel and businesses, including business interruption insurance, which insurance is in such amounts and insures against such losses and risks as are customary for companies engaged in similar businesses in similar industries as the Parent Guarantor and its subsidiaries.
dd) No Price Stabilization or Manipulation. Neither the Parent Guarantor nor the Issuer has taken and will not take, directly or indirectly, any action designed to or that would be reasonably expected to cause or result in stabilization or manipulation of the price of the Securities.
ee) Local Qualification. It is not necessary under the laws of The Netherlands (i) to enable any holder of Notes to enforce their respective rights under the Indenture, the Notes or the Guarantee, provided that they are not otherwise engaged in business in The Netherlands, or (ii) solely by reason of the execution, delivery or consummation of this Agreement, the Indenture or the offering or sale of the Securities, for any holder of Notes or the Parent Guarantor or the Issuer to be licensed, qualified or entitled to carry out business in The Netherlands.
ff) Form of Transaction Documents. This Agreement, the Indenture, the Notes, the ICSD Agreements and any other documents or instruments to be furnished hereunder or thereunder are in proper form under the laws of The Netherlands for the enforcement thereof against the Parent Guarantor or the Issuer (as applicable), and to ensure the legality, validity, enforceability or admissibility into evidence in The Netherlands of each such document or instrument, it is not necessary that any such document or instrument to be furnished hereunder or thereunder be filed or recorded with any court or other authority in The Netherlands.
gg) Residency of Issuer. The Issuer is a resident solely of The Netherlands for tax purposes.
hh) Submission to Jurisdiction; Agent for Service of Process. The Issuer has the power to submit, and pursuant to Section 19 of this Agreement has, to the extent permitted by law, legally, validly, effectively and irrevocably submitted, to the jurisdiction of the Specified Courts (as defined in Section 19 of this Agreement), and has the power to designate, appoint and empower, and pursuant to Section 19 of this Agreement, has legally, validly and effectively designated, appointed and empowered an agent for service of process in any suit or proceeding based on or arising under this Agreement in any of the Specified Courts.
ii) Immunity from Jurisdiction. Neither the Issuer nor any of its subsidiaries nor any of its or their properties or assets has any immunity from the jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution or otherwise) under the laws of The Netherlands.
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jj) No Unlawful Contributions or Other Payments. (i) Each of the Parent Guarantor and its subsidiaries and, to the knowledge of the Parent Guarantor and the Issuer, all directors, officers, agents, employees or other persons associated with or acting on behalf of the Parent Guarantor or any of its subsidiaries, comply and have complied with the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the FCPA) and the Bribery Act 2010 of the United Kingdom (the UK Bribery Act), including without limitation, by not making use of the mails or any means or instrumentality of interstate commerce corruptly in the furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value, including, without limitation, any bribe, rebate, payoff, influence payment, kickback or other unlawful payment, to any foreign or domestic government official or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA or the UK Bribery Act, except where any failure to comply would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change and (ii) the Parent Guarantor and its subsidiaries have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to ensure, compliance with the FCPA and the UK Bribery Act.
kk) No Conflict with Money Laundering Laws. The operations of the Parent Guarantor and its subsidiaries are and have been conducted at all times in compliance in all material respects with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all applicable jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines issued, administered or enforced by any governmental agency (collectively, the Money Laundering Laws) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Parent Guarantor or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the best of the Parent Guarantors or the Issuers knowledge, threatened.
ll) No Conflict with OFAC Laws. Neither the Parent Guarantor, nor any of its subsidiaries nor, to the Parent Guarantors or the Issuers knowledge, any director, officer, agent, employee or affiliate of the Parent Guarantor or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (OFAC) or any equivalent sanctions or measures imposed by the United Nations Security Council, the European Union or Her Majestys Treasury (collectively, the Sanctions), nor, to either the Parent Guarantors or the Issuers knowledge after due inquiry, is the Parent Guarantor or any of its subsidiaries operating in a country or territory that is the subject of Sanctions where such operations are in violation of such Sanctions; and neither the Parent Guarantor nor the Issuer will directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds, to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person, who, to the Parent Guarantors or the Issuers knowledge after due inquiry, is currently subject to any U.S. sanctions administered by OFAC. The Parent Guarantor and its subsidiaries have instituted and maintain policies and procedures that are designed and administered to provide reasonable assurance that the Parent Guarantor and its subsidiaries are in compliance with rules, regulations and procedures promulgated by OFAC and U.S. sanctions administered by OFAC. It is acknowledged and agreed that the agreement in this Section 1(ll) is only sought and given to the extent that to do so would not be unenforceable by or in respect of that person by reason of breach of (i) any provision of
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Council Regulation (EC) No 2271/96 of 22 November 1996 (or any law or regulation implementing such Regulation in any member state of the European Union), (ii) Council Regulation (EC) No 2271/96 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (or any law or regulation implementing such Regulation in the United Kingdom) or (iii) with regard to Deutsche Bank Aktiengesellschaft, Section 7 of the German Foreign Trade Ordinance (Verordnung zur Durchführung des Außenwirtschaftsgesetzes (Außenwirtschaftsverordnung AWV)), and Sections 5 and 13, shall be construed accordingly.
mm) Compliance with Environmental Laws. Except as otherwise disclosed in the Disclosure Package and the Prospectus, the Parent Guarantor and its subsidiaries (i) are and have been in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, Environmental Laws); (ii) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) have not received actual notice of, and are not aware of any reasonable basis for, any actual or potential liability or obligations concerning the presence, investigation, remediation, disposal or release of, or exposure to, hazardous or toxic substances or wastes, pollutants or contaminants, except, in the case of each of clauses (i), (ii) and (iii), as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
nn) Sarbanes-Oxley Compliance. There is, and has been, no failure on the part of either the Parent Guarantor or the Issuer or, to the Parent Guarantors or the Issuers knowledge, any of the Parent Guarantors or the Issuers directors or officers, in their capacities as such, to comply in all material respects with any provision of the Sarbanes-Oxley Act of 2002, as amended, and the rules and regulations promulgated in connection therewith (the Sarbanes-Oxley Act), including Section 402 related to loans and Sections 302 and 906 related to certifications.
oo) Internal Controls and Procedures. The Parent Guarantor maintains a system of internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with managements general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with managements general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
pp) No Material Weakness in Internal Controls. Except as disclosed in the Disclosure Package and the Prospectus, since the end of the Parent Guarantors most recent audited fiscal year, there has been (i) no material weakness in the Parent Guarantors internal control over financial reporting (whether or not remediated) and (ii) no change in the Parent Guarantors internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Parent Guarantors internal control over financial reporting.
qq) Accuracy of Exhibits. There are no franchises, contracts or documents which are required to be described in the Registration Statement, the Disclosure Package, the Prospectus or the documents incorporated by reference therein or to be filed as exhibits to the Registration Statement which have not been so described and filed as required.
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rr) Cybersecurity. (A) To the Parent Guarantors or the Issuers knowledge, there has been no security breach, unauthorized access or disclosure, or other compromise relating to the Parent Guarantors and its subsidiaries information technology and computer systems, networks, hardware, software, data and databases (including, as applicable, the data and information of their respective customers, employees, suppliers, vendors and any third party data maintained, processed or stored by the Parent Guarantor and its subsidiaries, and any such data processed or stored by third parties on behalf of the Parent Guarantor and its subsidiaries), equipment or technology (collectively, IT Systems and Data) that would, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; (B) neither the Parent Guarantor nor any of its subsidiaries has been notified of, and none of them has any knowledge of any event or condition that could result in, any security breach or incident, unauthorized access or disclosure or other compromise to their IT Systems and Data that would, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change; and (C) the Parent Guarantor and its subsidiaries have implemented appropriate controls, policies, procedures, and technological safeguards to maintain and protect the integrity, continuous operation, redundancy and security of their IT Systems and Data reasonably consistent with industry standards and practices, or as required by applicable regulatory standards. The Parent Guarantor and its subsidiaries are presently in material compliance with (i) all applicable laws or statutes and any judgments, orders, rules and regulations of any court or arbitrator or governmental or regulatory authority applicable to the Parent Guarantor or its subsidiaries (ii) all of the Parent Guarantors and its subsidiaries internal policies and contractual obligations relating to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access, misappropriation or modification.
ss) No Announcements Without Consent. The Issuer has not issued and will not issue, without the prior consent of the Stabilizing Manager, any press or public announcement referring specifically to the proposed issue of, or the terms of, the Notes unless the announcement adequately discloses that stabilising action may take place in relation to the Notes (but only to the extent required by laws, regulators or guidelines (including the EU Market Abuse Regulation (Regulation (EU) No 596/2014), the UK Market Abuse Regulation (being Regulation (EU) No 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019, SI 2019/310)) and any related regulatory technical standards, including those set out in the Buy-Back and Stabilisation Regulation applicable to the Issuer, the Underwriters, or any other entity undertaking stabilisation in connection with the issue of the Notes) and the Issuer authorizes the Stabilizing Manager to make all appropriate disclosure in relation to stabilisation instead of the Issuer.
Any certificate signed by a member of the Board of Directors or an officer of the Parent Guarantor or the Issuer and delivered to the Lead Managers or to counsel for the Underwriters in connection with the consummation of the transactions contemplated by this Agreement shall be deemed to be a representation and warranty by the Parent Guarantor or the Issuer, as the case may be, to the Underwriters as to the matters set forth therein.
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Section 2. Purchase, Sale and Delivery of the Securities.
a) The Securities. The Issuer agrees to issue and sell to the several Underwriters, severally and not jointly, all of the Securities upon the terms herein set forth. On the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Underwriters agree, severally and not jointly, to purchase from the Issuer the aggregate principal amount of Securities set forth opposite their names on Schedule A at a purchase price of 99.435% of the principal amount of the 2030 Notes, 99.282% of the principal amount of the 2033 Notes, 97.641% of the principal amount of the 2041 Notes and 98.681% of the principal amount of the 2051 Notes, payable on the Closing Date.
b) The Closing Date. Delivery of certificates for the Notes in global form to be purchased by the Underwriters and payment therefor shall be made at the New York offices of Sidley Austin LLP, counsel for the Underwriters (or such other place as may be mutually agreed to by the Parent Guarantor, the Issuer and the Lead Managers) at 9:00 a.m., London time, on October 18, 2021, or such other time and date as may be mutually agreed to by the Parent Guarantor, the Issuer and the Underwriters (the time and date of such closing are called the Closing Date).
c) Public Offering of the Securities. The Lead Managers hereby advise the Parent Guarantor and the Issuer that the Underwriters intend to offer for sale to the public, as described in the Disclosure Package and the Prospectus, their respective portions of the Securities as soon after the Execution Time as the Lead Managers, in their sole judgment, have determined is advisable and practicable.
It is understood that the Lead Managers have been authorized, for their own accounts and for the accounts of the several Underwriters, to accept delivery of and receipt for, and make payment of the purchase price for, the Securities that the Underwriters have agreed to purchase. The Lead Managers may (but shall not be obligated to) make payment for any Securities to be purchased by any Underwriter whose funds shall not have been received by the Lead Managers by the Closing Date for the account of such Underwriter, but any such payment shall not relieve such Underwriter from any of its obligations under this Agreement.
d) Payment for the Securities. Payment for the Securities shall be made on the Closing Date by wire transfer in immediately available funds to or to the order of the Issuer by a common service provider (the Common Service Provider) for Euroclear and Clearstream, against delivery to the Common Service Provider for the respective accounts of the Underwriters of the Global Notes representing the Notes, with any transfer taxes payable in connection with the sale of the Securities duly paid, without duplication, by the Issuer and the Guarantor.
e) Delivery of the Securities. The Parent Guarantor and the Issuer shall deliver, or cause to be delivered, to the Lead Managers for the accounts of the several Underwriters certificates for the Notes on the Closing Date, against the irrevocable release of a wire transfer of immediately available funds for the amount of the purchase price therefor. The certificates for the Notes shall be in such denominations and registered in such names and denominations as the Lead Managers shall have requested at least two full business days prior to the Closing Date and shall be made available for inspection on the business day preceding the Closing Date at a location in
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New York City or London, as the Lead Managers may designate. Delivery of the Securities shall be made through a common service provider using the facilities of Euroclear and Clearstream unless the Lead Managers shall otherwise instruct. Time shall be of the essence, and delivery at the time and place specified in this Agreement is a further condition to the obligations of the Lead Managers. As used herein, the term business day shall mean any day, other than (i) a Saturday or Sunday, (ii) a day on which banking institutions in New York, New York or London, England are authorized by law, regulation or executive order to close or (iii) a day on which the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET2) System, or any successor thereto, is not operating credit or transfer instructions in respect of payments in euro.
Section 3. Covenants.
Each of the Parent Guarantor and the Issuer further covenants and agrees, jointly and severally, with each Underwriter as follows:
a) Compliance with Securities Regulations and Commission Requests. The Parent Guarantor and the Issuer, subject to Section 3(b), will comply with the requirements of Rule 430B of the Securities Act, and will promptly notify the Lead Managers, and confirm the notice in writing, of (i) the effectiveness during the Prospectus Delivery Period (as defined below) of any post-effective amendment to the Registration Statement or the filing of any supplement or amendment to the Preliminary Prospectus or the Prospectus, (ii) the receipt of any comments from the Commission during the Prospectus Delivery Period, (iii) any request by the Commission for any amendment to the Registration Statement or any amendment or supplement to the Preliminary Prospectus or the Prospectus or for additional information, and (iv) the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or of any order preventing or suspending the use of the Preliminary Prospectus or the Prospectus, or of the suspension of the qualification of the Securities for offering or sale in any jurisdiction, or of the initiation or threatening of any proceedings for any of such purposes. The Parent Guarantor and the Issuer will promptly effect the filings necessary pursuant to Rule 424 of the Securities Act and will take such steps as they deem necessary to ascertain promptly whether the Preliminary Prospectus and the Prospectus transmitted for filing under Rule 424 of the Securities Act was received for filing by the Commission and, in the event that it was not, it will promptly file such document. Each of the Parent Guarantor and the Issuer will use its reasonable best efforts to prevent the issuance of any stop order and, if any stop order is issued, to obtain the lifting thereof at the earliest possible moment.
b) Filing of Amendments. During such period beginning on the date of this Agreement and ending on the later of the Closing Date or such date as, in the opinion of counsel for the Underwriters, the Prospectus is no longer required by law to be delivered in connection with sales of the Securities by the Underwriters or dealer, including in circumstances where such requirement may be satisfied pursuant to Rule 172 of the Securities Act (the Prospectus Delivery Period), each of the Parent Guarantor and the Issuer will give the Lead Managers notice of its intention to file or prepare any amendment to the Registration Statement (including any filing under Rule 462(b) of the Securities Act), or any amendment, supplement or revision to the Disclosure Package or the Prospectus, whether pursuant to the Securities Act, the Exchange Act or otherwise, will furnish the Lead Managers with copies of any such documents a reasonable amount of time prior to such proposed filing or use, as the case may be, and will not file or use any such document to which the Lead Managers or counsel for the Underwriters shall reasonably object.
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c) Delivery of Registration Statement. The Parent Guarantor and the Issuer have furnished or will deliver, upon request, to the Lead Managers or counsel for the Underwriters, without charge, signed copies of the Registration Statement as originally filed and of each amendment thereto (including exhibits filed therewith or incorporated by reference therein and documents incorporated or deemed to be incorporated by reference therein) and signed copies of all consents and certificates of experts, and will also deliver to the Lead Managers, without charge, a conformed copy of the Registration Statement, as originally filed and of each amendment thereto (without exhibits) for each of the Underwriters. The Registration Statement and each amendment thereto furnished to the Underwriters will be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.
d) Delivery of Prospectuses. The Parent Guarantor and the Issuer will deliver to each Underwriter, without charge, as many copies of the Preliminary Prospectus as such Underwriter may reasonably request, and each of the Parent Guarantor and the Issuer hereby consents to the use of such copies for purposes permitted by the Securities Act. The Parent Guarantor and the Issuer will furnish to each Underwriter, without charge, during the Prospectus Delivery Period, such number of copies of the Prospectus as such Underwriter may reasonably request. The Preliminary Prospectus and the Prospectus and any amendments or supplements thereto furnished to the Underwriters will be identical to any electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.
e) Continued Compliance with Securities Laws. The Parent Guarantor and the Issuer will comply with the Securities Act and the Exchange Act so as to permit the completion of the distribution of the Securities as contemplated in this Agreement and in the Registration Statement, the Disclosure Package and the Prospectus. If at any time during the Prospectus Delivery Period, any event shall occur or condition shall exist as a result of which it is necessary, in the opinion of counsel for the Underwriters or for the Parent Guarantor and the Issuer, to amend the Registration Statement in order that the Registration Statement 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 or to amend or supplement the Disclosure Package or the Prospectus in order that the Disclosure Package or the Prospectus, as the case may be, will not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at the Initial Sale Time or at the time it is delivered or conveyed to a purchaser, not misleading, or if it shall be necessary, in the opinion of either such counsel, at any such time to amend the Registration Statement or amend or supplement the Disclosure Package or the Prospectus in order to comply with the requirements of any law, the Parent Guarantor and the Issuer each agrees to (i) notify the Lead Managers of any such event, development or condition and (ii) promptly prepare and file with the Commission, subject to Section 3(b) hereof, such amendment or supplement as may be necessary to correct such statement or omission or to make the Registration Statement, the Disclosure Package or the Prospectus comply with such law, and the Parent Guarantor and the Issuer will furnish to the Underwriters, without charge, such number of copies of such amendment or supplement as the Underwriters may reasonably request.
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f) Blue Sky Compliance. The Parent Guarantor and the Issuer shall each cooperate with the Lead Managers and counsel for the Underwriters to qualify or register the Securities for sale under (or obtain exemptions from the application of) the state securities or blue sky laws of those jurisdictions designated by the Lead Managers, shall comply with such laws and shall continue such qualifications, registrations and exemptions in effect so long as required for the distribution of the Securities. Neither the Parent Guarantor nor the Issuer shall be required to qualify to transact business or to take any action that would subject it to general service of process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as a foreign business. The Parent Guarantor and the Issuer will advise the Lead Managers promptly of the suspension of the qualification or registration of (or any such exemption relating to) the Securities for offering, sale or trading in any jurisdiction or any initiation or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification, registration or exemption, each of the Parent Guarantor and the Issuer shall use its best efforts to obtain the withdrawal thereof at the earliest possible moment.
g) Use of Proceeds. The Issuer will apply the net proceeds from the sale of the Securities sold by it in the manner described under the caption Use of Proceeds in the Disclosure Package and the Prospectus.
h) Clearance and Settlement. The Parent Guarantor and the Issuer will cooperate with the Underwriters and use their best efforts to permit the Securities to be eligible for clearance and settlement through the facilities of Euroclear and Clearstream.
i) Periodic Reporting Obligations. During the Prospectus Delivery Period, the Parent Guarantor and the Issuer shall file, on a timely basis, with the Commission and the New York Stock Exchange (NYSE) all reports and documents required to be filed under Section 13 or 15 of the Exchange Act.
j) Tax Indemnity. The Parent Guarantor and the Issuer will indemnify and hold harmless the Underwriters against any documentary, stamp, registration or similar tax, including any interest and penalties, on the creation, issue and sale of the Securities by the Issuer to the Underwriters and on the execution and delivery of this Agreement. All indemnity payments to be made by the Parent Guarantor or the Issuer hereunder in respect of this Section 3(j) shall be made without withholding or deduction for or on account of any present or future taxes, duties or charges. The Parent Guarantor or the Issuer shall pay such additional amounts as may be necessary in order to ensure that the net amounts received after such withholding or deduction shall equal the amounts that would have been received if no withholding or deduction had been made. The indemnity obligations set forth in this Section 3(j) shall be exclusive of, and in addition to, the obligations of indemnity and contribution set forth in Section 8 of this Agreement and any other obligation of the Parent Guarantor or the Issuer to pay any sum or amount set forth in this Agreement.
k) Agreement Not to Offer or Sell Additional Securities. During the period commencing on the date hereof and ending on the Closing Date, neither the Issuer nor the Parent Guarantor will, without the prior written consent of the Lead Managers (which consent may be withheld at the sole discretion of the Lead Managers), directly or indirectly, sell, offer, contract or grant any option to sell, pledge, transfer or establish an open put equivalent position within the meaning of Rule 16a-1(h) under the Exchange Act, or otherwise dispose of or transfer, or announce
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the offering of, or file any registration statement under the Securities Act in respect of, any debt securities of the Parent Guarantor or the Issuer similar to the Notes or securities exchangeable for or convertible into debt securities similar to the Notes (other than as contemplated by this Agreement with respect to the Notes).
l) Final Term Sheet. The Issuer will prepare a final term sheet containing only a description of the Securities, in the form approved by the Underwriters and attached as Exhibit B hereto, and will file such term sheet pursuant to Rule 433(d) under the Securities Act within the time required by such rule (the Final Term Sheet). The Final Term Sheet is an Issuer Free Writing Prospectus for purposes of this Agreement.
m) Permitted Free Writing Prospectuses. Each of the Parent Guarantor and the Issuer represent that it has not made, and agrees that, unless it obtains the prior written consent of the Lead Managers, it will not make, any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a free writing prospectus (as defined in Rule 405 of the Securities Act) required to be filed by either the Parent Guarantor or the Issuer with the Commission or retained by either the Parent Guarantor or the Issuer under Rule 433 of the Securities Act; provided that the prior written consent of the Lead Managers shall be deemed to have been given in respect of any Issuer Free Writing Prospectus included in Annex I to this Agreement. Any such free writing prospectus consented to or deemed to be consented to by the Lead Managers is hereinafter referred to as a Permitted Free Writing Prospectus. Each of the Parent Guarantor and the Issuer agrees that it (i) has treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus, and (ii) has complied and will comply, as the case may be, with the requirements of Rules 164 and 433 of the Securities Act applicable to any Permitted Free Writing Prospectus, including in respect of timely filing with the Commission, legending and record keeping. Each of the Parent Guarantor and the Issuer consents to the use by any Underwriter of a free writing prospectus that (a) is not an issuer free writing prospectus as defined in Rule 433, and (b) contains only (i) information describing the preliminary terms of the Securities or their offering, (ii) information permitted by Rule 134 under the Securities Act or (iii) information that describes the final terms of the Securities or their offering and that is included in the Final Term Sheet of the Issuer contemplated in Section 3(l).
n) Notice of Inability to Use Automatic Shelf Registration Statement Form. If at any time during the Prospectus Delivery Period, the Parent Guarantor or the Issuer receives from the Commission a notice pursuant to Rule 401(g)(2) of the Securities Act or otherwise ceases to be eligible to use the automatic shelf registration statement form, the Parent Guarantor and the Issuer will (i) promptly notify the Lead Managers, (ii) promptly file a new registration statement or post-effective amendment on the proper form relating to the Securities, in a form satisfactory to the Lead Managers, (iii) use its reasonable best efforts to cause such registration statement or post-effective amendment to be declared effective and (iv) promptly notify the Lead Managers of such effectiveness. The Parent Guarantor and the Issuer will take all other action reasonably necessary or appropriate to permit the public offering and sale of the Securities to continue as contemplated in the registration statement that was the subject of the Rule 401(g)(2) of the Securities Act notice or for which the Parent Guarantor or the Issuer has otherwise become ineligible. References herein to the Registration Statement shall include such new registration statement or post-effective amendment, as the case may be.
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o) Filing Fees. Each of the Parent Guarantor and the Issuer agrees to pay the required Commission filing fees relating to the Securities within the time required by and in accordance with Rule 456(b)(1) and 457(r) of the Securities Act.
p) No Manipulation of Price. Neither the Parent Guarantor nor the Issuer will take, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be expected to constitute, under the Exchange Act or otherwise, the stabilization or manipulation of the price of the Securities.
q) Listing. An application will be made by or on behalf of the Issuer to admit the Notes to the Official List of the Irish Stock Exchange plc, trading as Euronext Dublin (Euronext Dublin) and to trading on the Global Exchange Market (GEM) of Euronext Dublin upon issuance of the Securities or as promptly as practicable after the date thereafter and, upon such listing, will use commercially reasonable best efforts to maintain such listing and satisfy the requirements for such continued listing as long as the Securities are outstanding.
r) Stabilization. In connection with the issuance of the Securities, the Parent Guarantor and the Issuer hereby authorize Morgan Stanley Europe SE (in this capacity, the Stabilizing Manager) (or any person acting on behalf of the Stabilizing Manager) to (i) over-allot Securities or effect transactions with a view to supporting the market price of the Securities at a level higher than that which might otherwise prevail, but in doing so the Stabilizing Manager shall act as principal and not as agent of the Issuer and any loss resulting from over-allotment and stabilization will be borne, and any profit arising therefrom shall beneficially retained, by the Stabilizing Manager, and the Stabilizing Manager acknowledges that the Issuer has not authorized the issue of the 2030 Notes in principal amount exceeding 1,750,000,000, the 2033 Notes in principal amount exceeding 1,500,000,000, the 2041 Notes in principal amount exceeding 1,250,000,000 or the 2051 Notes in principal amount exceeding 750,000,000 and (ii) be appointed as the central point responsible for adequate public disclosure regarding stabilization of the information required in relation to such stabilization by any applicable law or regulation and handling any competent authority requests, in each case, in accordance with Article 6(5) of the Buy-Back and Stabilisation Regulation. For purposes of this Agreement, Buy-Back and Stabilisation Regulation means Commission Delegated Regulation EU 2016/1052 of 8 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the conditions applicable to buy-back programmes and stabilisation measures.
The Lead Managers, on behalf of the several Underwriters, may, in their sole discretion, waive in writing the performance by the Parent Guarantor or the Issuer of any one or more of the foregoing covenants or extend the time for their performance.
Section 4. Payment of Expenses. Each of the Parent Guarantor and the Issuer agrees, jointly and severally, to pay all costs, fees and expenses incurred in connection with the performance of its obligations hereunder and in connection with the transactions contemplated hereby, including without limitation (i) all expenses incident to the issuance and delivery of the Securities (including all printing and engraving costs), (ii) all necessary issue, transfer and other stamp taxes in connection with the issuance and sale of the Securities, (iii) all fees and expenses of the Parent Guarantors and the Issuers counsel, independent public or certified public
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accountants and other advisors to the Parent Guarantor and the Issuer, (iv) all costs and expenses incurred in connection with the preparation, printing, filing, shipping and distribution of the Registration Statement (including financial statements, exhibits, schedules, consents and certificates of experts), each Issuer Free Writing Prospectus, any Additional Written Communication, the Preliminary Prospectus and the Prospectus, and all amendments and supplements thereto, this Agreement, the Indenture and the listing of the Notes on the Euronext Dublin and the GEM, (v) all filing fees, attorneys fees and expenses incurred by the Parent Guarantor, the Issuer or the Underwriters in connection with qualifying or registering (or obtaining exemptions from the qualification or registration of) all or any part of the Securities for offer and sale under the state securities or blue sky laws, and, if reasonably requested by the Lead Managers, preparing a Blue Sky Survey or memorandum, and any supplements thereto, (vi) the filing fees incident to, and the reasonable fees and disbursements of counsel for the Underwriters in connection with, the review, if any, by the FINRA of the terms of the sale of the Securities, (vii) the fees and expenses of the Trustee and the paying agent for the Notes, including the reasonable fees and disbursements of counsel for the Trustee and the paying agent for the Notes in connection with the Indenture and the Securities, (viii) any fees payable in connection with the rating of the Securities with the ratings agencies, (ix) all fees and expenses (including reasonable fees and expenses of counsel) of the Parent Guarantor and the Issuer in connection with approval of the Securities by Euroclear and Clearstream for book-entry transfer, (x) all other fees, costs and expenses referred to in Item 14 of Part II of the Registration Statement, and (xi) all other fees, costs and expenses incurred in connection with the performance of its obligations hereunder for which provision is not otherwise made in this Section. Except as provided in this Section 4 and Sections 6, 8 and 9 hereof, the Underwriters shall pay their own expenses, including the fees and disbursements of their counsel. Each Underwriter agrees to pay the portion of such expenses represented by such Underwriters pro rata share (based on the proportion that the principal amount of Securities set forth opposite each Underwriters name in Schedule A bears to the aggregate principal amount of Securities set forth opposite the names of all Underwriters) of the Securities (with respect to each Underwriter, the Pro Rata Expenses). Notwithstanding anything contained in the International Capital Market Association Primary Market Handbook, each Underwriter hereby agrees that the Settlement Lead Manager may allocate the Pro Rata Expenses to the account of such Underwriter for settlement of accounts (including payment of such Underwriters fees by the Settlement Lead Manager) as soon as practicable but in any case no later than 90 days following the Closing Date.
Section 5. Conditions of the Obligations of the Underwriters. The obligations of the several Underwriters to purchase and pay for the Securities as provided herein on the Closing Date shall be subject to the accuracy of the representations and warranties on the part of the Parent Guarantor and the Issuer set forth in Section 1 hereof as of the date hereof, as of the Initial Sale Time, and as of the Closing Date as though then made and to the timely performance by each of the Parent Guarantor and the Issuer of its covenants and other obligations hereunder, and to each of the following additional conditions:
a) Effectiveness of Registration Statement. The Registration Statement shall remain effective under the Securities Act and no stop order suspending the effectiveness of the Registration Statement shall have been issued under the Securities Act and no proceedings for that purpose shall have been instituted or be pending or threatened by the Commission, any request on the part of the Commission for additional information shall have been complied with to the
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reasonable satisfaction of counsel for the Underwriters, and neither the Parent Guarantor nor the Issuer shall have received from the Commission any notice pursuant to Rule 401(g)(2) of the Securities Act objecting to use of the automatic shelf registration statement form. The Preliminary Prospectus and the Prospectus shall have been filed with the Commission in accordance with Rule 424(b) (or any required post-effective amendment providing such information shall have been filed and declared effective in accordance with the requirements of Rule 430B).
b) Accountants Comfort Letter. On the date hereof, the Lead Managers shall have received from PricewaterhouseCoopers LLP, independent registered public accountants for the Parent Guarantor, a letter dated the date hereof addressed to the Underwriters, in form and substance reasonably satisfactory to the Lead Managers with respect to the audited and unaudited financial statements and certain financial information contained in the Registration Statement, the Disclosure Package and the Prospectus.
c) Bring-down Comfort Letter. On the Closing Date, the Lead Managers shall have received from PricewaterhouseCoopers LLP, independent registered public accountants for the Parent Guarantor, a letter dated such date, in form and substance reasonably satisfactory to the Lead Managers, to the effect that they reaffirm the statements made in the letter furnished by them pursuant to Section 5(b), except that the specified date referred to therein for the carrying out of procedures shall be no more than three business days prior to the Closing Date.
d) No Material Adverse Change. For the period from and after the date of this Agreement and prior to the Closing Date (i) in the judgment of the Lead Managers there shall not have occurred any Material Adverse Change and (ii) there shall not have been any change or decrease specified in the letter or letters referred to in Section 5(c) which is, in the sole judgment of the Lead Managers, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated by the Disclosure Package and the Prospectus.
e) No Ratings Agency Change. As of the Closing Date, (i) the ratings and outlook accorded the Notes by Moodys Investors Service, Inc. (Moodys), S&P Global Ratings, a division of S&P Global, Inc. (S&P) and Fitch Ratings, Inc. (Fitch) shall not be lower than [ ] by Moodys, [ ] by S&P and [ ] by Fitch and (ii) none of Moodys, S&P or Fitch shall have given notice of or publicly announced (A) any intended or potential downgrading of any such rating or outlook or (B) any review for a possible change in any such rating or outlook that does not indicate the direction of the possible change.
f) Opinion of Counsel for the Parent Guarantor and the Issuer. On the Closing Date, the Lead Managers shall have received the favorable opinion, dated as of such Closing Date, of (i) Wilmer Cutler Pickering Hale and Dorr LLP, counsel for the Parent Guarantor and the Issuer, the form of which is attached as Exhibit A-1, (ii) Michael A. Boxer, Senior Vice President and General Counsel of the Parent Guarantor, the form of which is attached as Exhibit A-2 and (iii) Linklaters LLP, Dutch counsel for the Parent Guarantor and the Issuer, the form of which is attached as Exhibit A-3.
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g) Opinion of Counsel for the Underwriters. On the Closing Date, the Lead Managers shall have received the favorable opinion of Sidley Austin LLP, counsel for the Underwriters, dated as of such Closing Date, with respect to such matters as may be reasonably requested by the Lead Managers.
h) [Reserved.]
i) Officers Certificate. On the Closing Date, the Lead Managers shall have received (x) a written certificate executed by the Chairman of the Board or the Chief Executive Officer or a Senior Vice President of the Parent Guarantor and the Chief Financial Officer or Chief Accounting Officer of the Parent Guarantor and (y) a written certificate executed by a member of the Board of Directors or an executive officer of the Issuer, in each case, dated as of such Closing Date, to the effect that:
(i) neither the Parent Guarantor nor the Issuer, as applicable, has received from the Commission a stop order suspending the effectiveness of the Registration Statement, and no proceedings for such purpose have been instituted or threatened by the Commission;
(ii) neither the Parent Guarantor nor the Issuer, as applicable, has received from the Commission any notice pursuant to Rule 401(g)(2) of the Securities Act objecting to use of the automatic shelf registration statement form;
(iii) to their knowledge, after due inquiry, the representations, warranties and covenants of the Parent Guarantor and the Issuer, as applicable, set forth in Section 1 of this Agreement are true and correct with the same force and effect as though expressly made on and as of such Closing Date; and
(iv) each of the Parent Guarantor and the Issuer, as applicable, has complied with all the agreements hereunder and satisfied all the conditions on its part to be performed or satisfied hereunder at or prior to such Closing Date.
j) [Reserved.]
k) Additional Documents. On or before the Closing Date, the Lead Managers and counsel for the Underwriters shall have received such information, documents and opinions as they may reasonably require for the purposes of enabling them to pass upon the issuance and sale of the Securities as contemplated herein, or in order to evidence the accuracy of any of the representations and warranties, or the satisfaction of any of the conditions or agreements, herein contained.
l) Listing. On or before the Closing Date, an application for admission of the Notes to the Official List of the Euronext Dublin and to trading on the GEM shall have been submitted.
m) Clearance and Settlement. On or before the Closing Date, the Securities will be eligible for clearance and settlement through the facilities of Euroclear and Clearstream.
n) Effectuation of the Notes. On or before the Closing Date, the Issuer shall have delivered a duly executed Effectuation Authorisation to the CSK.
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If any condition specified in this Section 5 is not satisfied when and as required to be satisfied, this Agreement may be terminated by the Lead Managers by notice to either the Parent Guarantor or the Issuer at any time on or prior to the Closing Date, which termination shall be without liability on the part of any party to any other party, except that Sections 4, 6, 8, 9, 13, 17, 18, 19, 20, 22, 23 and 24 shall at all times be effective and shall survive such termination.
Section 6. Reimbursement of Underwriters Expenses. If this Agreement is terminated by the Lead Managers pursuant to Section 5 or 11, or if the sale to the Underwriters of the Securities on the Closing Date is not consummated because of any refusal, inability or failure on the part of either the Parent Guarantor or the Issuer to perform any agreement herein or to comply with any provision hereof other than by reason of a default by any of the Underwriters, the Parent Guarantor and the Issuer agree, jointly and severally, to reimburse the Lead Managers and the other Underwriters (or such Underwriters as have terminated this Agreement with respect to themselves), severally, upon demand for all out-of-pocket expenses that shall have been reasonably incurred by the Lead Managers and the Underwriters in connection with the proposed purchase and the offering and sale of the Securities, including but not limited to fees and disbursements of counsel, printing expenses, travel expenses, postage, facsimile and telephone charges.
Section 7. Effectiveness of this Agreement. This Agreement shall not become effective until the execution of this Agreement by the parties hereto.
Section 8. Indemnification.
(a) Indemnification of the Underwriters. Each of the Parent Guarantor and the Issuer agrees, jointly and severally, to indemnify and hold harmless each Underwriter, its directors, officers, employees, agents and affiliates and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which such Underwriter or such director, officer, employee, agent, affiliate or controlling person may become subject, under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, or at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of the Parent Guarantor or the Issuer), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based (i) upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, or any amendment thereto, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (ii) upon any untrue statement or alleged untrue statement of a material fact contained in each Additional Written Communication, each Issuer Free Writing Prospectus, the Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; and to reimburse each Underwriter and each such director, officer, employee, agent, affiliate and controlling person for any and all expenses (including the reasonable fees and disbursements of counsel chosen by the Lead Managers) as such expenses are reasonably incurred by such Underwriter or such director, officer, employee, agent, affiliate or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or
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action; provided, however, that the foregoing indemnity agreement shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Parent Guarantor and the Issuer by any Underwriter through the Lead Managers expressly for use in the Registration Statement, any Additional Written Communication, any Issuer Free Writing Prospectus, the Preliminary Prospectus, or the Prospectus (or any amendment or supplement thereto), it being understood and agreed that the only such information furnished by any Underwriter through the Lead Managers consists of the information described as such in Section 8(b) hereof. The indemnity agreement set forth in this Section 8(a) shall be in addition to any liabilities that the Parent Guarantor and the Issuer may otherwise have.
(b) Indemnification of the Parent Guarantor and the Issuer. Each Underwriter agrees, severally and not jointly, to indemnify and hold harmless each of the Parent Guarantor and the Issuer, each of its respective directors, each of its respective officers who signed the Registration Statement and each person, if any, who controls the Parent Guarantor or the Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any loss, claim, damage, liability or expense, as incurred, to which the Parent Guarantor, the Issuer or any such director, officer or controlling person may become subject, under the Securities Act, the Exchange Act, or other federal or state statutory law or regulation, or at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of such Underwriter), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below) arises out of or is based (i) upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, or any amendment thereto, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading; or (ii) upon any untrue statement or alleged untrue statement of a material fact contained in each Additional Written Communication, each Issuer Free Writing Prospectus, the Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto) or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, 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 the Registration Statement, any Additional Written Communication, any Issuer Free Writing Prospectus, the Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto), in reliance upon and in conformity with written information furnished to the Parent Guarantor and the Issuer by such Underwriter through the Lead Managers expressly for use therein; and to reimburse each of the Parent Guarantor, the Issuer, and any such director, officer or controlling person for any legal and other expense reasonably incurred by the Parent Guarantor, the Issuer, or any such director, officer or controlling person in connection with investigating, defending, settling, compromising or paying any such loss, claim, damage, liability, expense or action. The Parent Guarantor and the Issuer hereby acknowledge that the only information furnished to the Parent Guarantor and the Issuer by the Underwriters through the Lead Managers expressly for use in the Registration Statement, any Additional Written Communication, any Issuer Free Writing Prospectus, the Preliminary Prospectus or the Prospectus (or any amendment or supplement thereto) are the statements set forth in the sixth, ninth and tenth paragraphs under Underwriting in the Preliminary Prospectus and in the Prospectus (the Underwriter Information). The indemnity agreement set forth in this Section 8(b) shall be in addition to any liabilities that each Underwriter may otherwise have.
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(c) Notifications and Other Indemnification Procedures. Promptly after receipt by an indemnified party of notice of the commencement of any action under Section 8(a) or Section 8(b), such indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof, but the omission to so notify the indemnifying party will not relieve it from any liability which it may have to any indemnified party for contribution or otherwise under the indemnity agreement contained in this Section 8 or to the extent it is not materially prejudiced as a proximate result of such failure. In case any such action is brought against any indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the indemnifying party will be entitled to participate in, and, to the extent that it shall elect, jointly with all other indemnifying parties similarly notified, by written notice delivered to the indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, such indemnified party shall have the right to employ its own counsel in any such action and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such indemnified party, unless: (i) the employment of such counsel has been expressly authorized in writing by the indemnifying party; (ii) the indemnifying party has failed promptly to assume the defense and employ counsel reasonably satisfactory to the indemnified party; or (iii) the named parties to any such action (including any impleaded parties) include both such indemnified party and the indemnifying party or any affiliate of the indemnifying party, and such indemnified party shall have reasonably concluded that either (x) there may be one or more legal defenses available to it which are different from or additional to those available to the indemnifying party or such affiliate of the indemnifying party or (y) a conflict may exist between such indemnified party and the indemnifying party or such affiliate of the indemnifying party (it being understood, however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (in addition to a single firm of local counsel) for all such indemnified parties, which firm shall be designated in writing by the Lead Managers and that all such reasonable fees and expenses shall be reimbursed as they are incurred). Upon receipt of notice from the indemnifying party to such indemnified party of such indemnifying partys election to so assume the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof unless the indemnified party shall have employed separate counsel in accordance with the proviso to the next preceding sentence, in which case the reasonable fees and expenses of counsel shall be at the expense of the indemnifying party.
(d) Settlements. The indemnifying party under this Section 8 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel as contemplated by Section 8(c) hereof, the indemnifying party agrees that it shall be liable
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for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 60 days after receipt by such indemnifying party of the aforesaid request and (ii) such indemnifying party shall not have reimbursed the indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement, compromise or consent (i) includes an unconditional release of such indemnified party from all liability on claims that are the subject matter of such action, suit or proceeding 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.
Section 9. Contribution. If the indemnification provided for in Section 8 is for any reason held to be unavailable to or otherwise insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party, as incurred, as a result of any losses, claims, damages, liabilities or expenses referred to therein (i) in such proportion as is appropriate to reflect the relative benefits received by the Parent Guarantor and the Issuer, on the one hand, and the Underwriters, on the other hand, from the offering of the Securities pursuant to this Agreement or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Parent Guarantor and the Issuer, on the one hand, and the Underwriters, on the other hand, in connection with the statements or omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Parent Guarantor and the Issuer, on the one hand, and the Underwriters, on the other hand, in connection with the offering of the Securities pursuant to this Agreement shall be deemed to be in the same respective proportions as the total net proceeds from the offering of the Securities pursuant to this Agreement (before deducting expenses) received by the Parent Guarantor and the Issuer, and the total underwriting discount and commissions received by the Underwriters, in each case as set forth on the front cover page of the Prospectus bear to the aggregate initial public offering price of the Securities as set forth on such cover. The relative fault of the Parent Guarantor and the Issuer, on the one hand, and the Underwriters, on the other hand, shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by the Parent Guarantor or the Issuer, on the one hand, or the Underwriters, on the other hand, and the parties relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
The amount paid or payable by a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 8(c), any reasonable legal or other fees or expenses reasonably incurred by such party in connection with investigating or defending any action or claim.
The Parent Guarantor, the Issuer and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 9 were determined by pro rata allocation (even if the Underwriters were treated as one entity for such purposes) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 9.
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Notwithstanding the provisions of this Section 9, no Underwriter shall be required to contribute any amount in excess of the total underwriting discounts and commissions received by such Underwriter in connection with the Securities underwritten by it and distributed to the public. 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 Underwriters obligations to contribute pursuant to this Section 9 are several, and not joint, in proportion to their respective underwriting commitments as set forth opposite their names in Schedule A. For purposes of this Section 9, each director, officer, employee, agent and affiliate of an Underwriter and each person, if any, who controls an Underwriter within the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as such Underwriter, and each director of either the Parent Guarantor or the Issuer, each officer of either the Parent Guarantor or the Issuer who signed the Registration Statement, and each person, if any, who controls either the Parent Guarantor or the Issuer with the meaning of the Securities Act and the Exchange Act shall have the same rights to contribution as the Parent Guarantor or the Issuer.
Section 10. Default of One or More of the Several Underwriters. If, on the Closing Date, any one or more of the several Underwriters shall fail or refuse to purchase Securities that it or they have agreed to purchase hereunder on such date, and the aggregate principal amount of Securities, which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase does not exceed 10% of the aggregate principal amount of the Notes to be purchased on such date, the other Underwriters shall be obligated, severally, in the proportion to the aggregate principal amounts of such Notes set forth opposite their respective names on Schedule A bears to the aggregate principal amount of such Notes set forth opposite the names of all such non-defaulting Underwriters, or in such other proportions as may be specified by the Lead Managers with the consent of the non-defaulting Underwriters, to purchase such Securities which such defaulting Underwriter or Underwriters agreed but failed or refused to purchase on such date. If, on the Closing Date, any one or more of the Underwriters shall fail or refuse to purchase such Securities and the aggregate principal amount of such Notes with respect to which such default occurs exceeds 10% of the aggregate principal amount of the Securities to be purchased on such date, and arrangements satisfactory to the Lead Managers and the Issuer for the purchase of such Securities are not made within 48 hours after such default, this Agreement shall terminate without liability of any party to any other party except that the provisions of Sections 4, 6, 8, 9, 13, 17, 18, 19, 20, 22, 23 and 24 shall at all times be effective and shall survive such termination. In any such case, either the Lead Managers or the Issuer shall have the right to postpone the Closing Date, but in no event for longer than seven days in order that the required changes, if any, to the Registration Statement, any Issuer Free Writing Prospectus, the Preliminary Prospectus or the Prospectus or any other documents or arrangements may be effected.
As used in this Agreement, the term Underwriter shall be deemed to include any person substituted for a defaulting Underwriter under this Section 10. Any action taken under this Section 10 shall not relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement.
Section 11. Termination of this Agreement. Prior to the Closing Date, this Agreement may be terminated by the Lead Managers by notice given to the Parent Guarantor or the Issuer if at any time (i) trading or quotation in any of the Parent Guarantors or the Issuers securities shall have
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been suspended or limited by the Commission, the NYSE, the Euronext Dublin or the GEM, or trading in securities generally on either the Nasdaq Stock Market, the NYSE, the Euronext Dublin or the GEM shall have been suspended or limited, or minimum or maximum prices shall have been generally established on any of such stock exchanges by the Commission or the FINRA; (ii) a general banking moratorium shall have been declared by any of federal or New York or European authorities; (iii) there shall have occurred any outbreak or escalation of national or international hostilities or any crisis or calamity involving the United States or members of the European Union, or any change in the United States or international financial markets, or any substantial change or development involving a prospective substantial change in United States or international political, financial or economic conditions, as in the judgment of the Lead Managers is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale, or delivery of the Securities in the manner and on the terms described in the Disclosure Package or the Prospectus or to enforce contracts for the sale of securities; (iv) in the judgment of the Lead Managers there shall have occurred any Material Adverse Change; or (v) there shall have occurred a material disruption in commercial banking or securities settlement or clearance services in the United States or with respect to the Euroclear or Clearstream systems in Europe. Any termination pursuant to this Section 11 shall be without liability of any party to any other party, except as provided in Sections 4 and 6 hereof, and provided that Sections 4, 6, 8, 9, 13, 17, 18, 19, 20, 22, 23 and 24 shall survive such termination and remain in full force and effect.
Section 12. No Fiduciary Duty. Each of the Parent Guarantor and the Issuer acknowledges and agrees that: (i) the purchase and sale of the Securities pursuant to this Agreement, including the determination of the public offering price of the Securities and any related discounts and commissions, is an arms-length commercial transaction between the Parent Guarantor and the Issuer, on the one hand, and the several Underwriters, on the other hand, and each of the Parent Guarantor and the Issuer is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (ii) in connection with each transaction contemplated hereby and the process leading to such transaction each Underwriter is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary of either the Parent Guarantor, the Issuer or their respective affiliates, stockholders, creditors or employees or any other party; (iii) no Underwriter has assumed or will assume an advisory, agency or fiduciary responsibility in favor of either the Parent Guarantor or the Issuer with respect to any of the transactions contemplated hereby or the process leading thereto (irrespective of whether such Underwriter has advised or is currently advising either the Parent Guarantor or the Issuer on other matters) and no Underwriter has any obligation to either the Parent Guarantor or the Issuer with respect to the offering contemplated hereby except the obligations expressly set forth in this Agreement; (iv) the several Underwriters and their respective affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Parent Guarantor and the Issuer and that several Underwriters have no obligation to disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; (v) the Underwriters have not provided any legal, accounting, regulatory or tax advice with respect to the offering contemplated hereby and each of the Parent Guarantor and the Issuer has consulted its own legal, accounting, regulatory and tax advisors to the extent it deemed appropriate; and (vi) any review by the Underwriters of the Parent Guarantor and the Issuer, the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Underwriters and shall not be on behalf of either the Parent Guarantor or the Issuer.
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This Agreement supersedes all prior agreements and understandings (whether written or oral) among the Parent Guarantor, the Issuer and the several Underwriters, or any of them, with respect to the subject matter hereof. The Parent Guarantor and the Issuer each hereby waives and releases, jointly and severally, to the fullest extent permitted by law, any claims that either the Parent Guarantor or the Issuer may have against the several Underwriters with respect to any breach or alleged breach of agency or fiduciary duty.
Section 13. Representations and Indemnities to Survive Delivery. The respective indemnities, agreements, representations, warranties and other statements of the Parent Guarantor and the Issuer, of their respective officers and of the several Underwriters set forth in or made pursuant to this Agreement (i) will remain operative and in full force and effect, regardless of any investigation, or statement as to the results thereof, made by or on behalf of any Underwriter, the officers or employees of any Underwriter, any person controlling any Underwriter, the Parent Guarantor, the Issuer, the officers or employees of either the Parent Guarantor or the Issuer, or any person controlling either the Parent Guarantor or the Issuer, as the case may be and (ii) will survive delivery of and payment for the Securities sold hereunder and any termination of this Agreement.
Section 14. Notices. All communications hereunder shall be in writing and shall be mailed, hand delivered or telecopied and confirmed to the parties hereto as follows:
If to the Lead Managers:
Barclays Bank PLC
5 The North Colonnade
Canary Wharf
London E14 4BB, United Kingdom
Tel: +44 (0) 20 7773 9098
Attn: Debt Syndicate
Email: LeadManagedBondNotices@barclayscorp.com
Morgan Stanley Europe SE
Grosse Gallusstrasse 18
60312 Frankfurt am Main
Germany
Tel: 020 7677 4799
Fax: 020 7056 4984
Email: tmglondon@morganstanley.com
Attn: Head of Transaction Management Group, Global Capital Markets
BofA Securities Europe SA
51 rue la Boétie
75008 Paris
France
Tel: +33(0) 1 8770 0000
Email: dcm_eea@bofa.com
Attn: Syndicate Desk
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Citigroup Global Markets Europe AG
Reuterweg 16
60323 Frankfurt am Main
Germany
Tel: +49 69 1366 8362
Attn: Fixed Income Syndicate Desk
Mizuho Securities Europe GmbH
Taunustor 1
60310 Frankfurt am Main
Germany
Tel: +49 69 42729 3140
Email: PrimaryDebt@eu.mizuho-sc.com
Attn: Primary Debt
with a copy to:
Sidley Austin LLP
787 Seventh Avenue
New York, New York 10019
Facsimile: (212) 839 - 5399
Attention: Michael J. Schiavone
If to the Parent Guarantor or the Issuer:
Thermo Fisher Scientific Inc.
168 Third Avenue
Waltham, Massachusetts 02451
Facsimile: (781) 622 - 1283
Attention: Michael A. Boxer
with a copy to:
Wilmer Cutler Pickering Hale and Dorr LLP
60 State Street
Boston, Massachusetts 02109
Facsimile: (617) 526 - 6000
Attention: Hal J. Leibowitz
Any party hereto may change the address for receipt of communications by giving written notice to the others.
Section 15. Successors. This Agreement will inure to the benefit of and be binding upon the parties hereto, including any substitute Underwriters pursuant to Section 10 hereof and to the benefit of the directors, officers, employees, agents and controlling persons referred to in Sections 8 and 9, and in each case their respective successors, and no other person will have any right or obligation hereunder. The term successors shall not include any purchaser of the Securities as such from any of the Underwriters merely by reason of such purchase.
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Section 16. Partial Unenforceability. The invalidity or unenforceability of any Section, paragraph or provision of this Agreement shall not affect the validity or enforceability of any other Section, paragraph or provision hereof. If any Section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable.
Section 17. Governing Law Provisions. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN THAT STATE.
Section 18. Trial by Jury. The Parent Guarantor and the Issuer (on their respective behalves and, to the extent permitted by applicable law, on behalf of their respective stockholders and affiliates), and each of the Underwriters hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.
Section 19. Consent to Jurisdiction. Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby (Related Proceedings) may be instituted in the federal courts of the United States of America located in the City and County of New York, Borough of Manhattan, or the courts of the State of New York in each case located in the City and County of New York, Borough of Manhattan (collectively, the Specified Courts), and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any such court (a Related Judgment), as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to such partys address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum. The Issuer irrevocably appoints Capitol Services, Inc., 1675 S. State St., Suite B, Dover, Delaware 19901 as its agent to receive service of process or other legal summons for purposes of any such suit, action or proceeding that may be instituted in any state or federal court in the City and County of New York.
Section 20. Waiver of Immunity. With respect to any Related Proceeding, each party irrevocably waives, to the fullest extent permitted by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction, service of process, attachment (both before and after judgment) and execution to which it might otherwise be entitled in the Specified Courts, and with respect to any Related Judgment, each party waives any such immunity in the Specified Courts or any other court of competent jurisdiction, and will not raise or claim or cause to be pleaded any such immunity at or in respect of any such Related Proceeding or Related Judgment, including, without limitation, any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended.
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Section 21. General Provisions. This Agreement may be executed in two or more counterparts, each one of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Delivery of this Agreement by one party to the other may be made by facsimile, electronic mail for other transmission method as permitted by applicable law, and the parties hereto agree that any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. A partys electronic signature (complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) of this Agreement shall have the same validity and effect as a signature affixed by the partys hand. This Agreement may not be amended or modified unless in writing by all of the parties hereto, and no condition herein (express or implied) may be waived unless waived in writing by each party whom the condition is meant to benefit. The Section headings herein are for the convenience of the parties only and shall not affect the construction or interpretation of this Agreement.
Each of the parties hereto acknowledges that it is a sophisticated business person who was adequately represented by counsel during negotiations regarding the provisions hereof, including, without limitation, the indemnification provisions of Section 8 and the contribution provisions of Section 9, and is fully informed regarding said provisions. Each of the parties hereto further acknowledges that the provisions of Sections 8 and 9 hereto fairly allocate the risks in light of the ability of the parties to investigate the Parent Guarantor and the Issuer, their respective affairs and their respective business in order to assure that adequate disclosure has been made in the Registration Statement, the Disclosure Package and the Prospectus (and any amendments and supplements thereto), as required by the Securities Act and the Exchange Act.
Section 22. Agreement Among Managers. The Underwriters agree as between themselves that they will be bound by and will comply with the International Capital Markets Association Agreement Among Managers Version 1/New York Law Schedule (the Agreement Among Managers) as amended in the manner set out below: For purposes of the Agreement Among Managers, Managers means the Underwriters and the Underwriters shall be joint Lead Managers, Settlement Lead Manager and Stabilisation Coordinator mean Morgan Stanley Europe SE, and Subscription Agreement means the Underwriting Agreement. Clause 3 of the Agreement Among Managers shall be deleted in its entirety and replaced with Section 10 of this Underwriting Agreement.
Section 23. Judgment Currency. The Parent Guarantor and the Issuer, jointly and severally, agrees to indemnify each Underwriter, its directors, officers, affiliates and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any loss incurred by such Underwriter as a result of any judgment or order being given or made for any amount due hereunder and such judgment or order being expressed and paid in a currency (the judgment currency) other than U.S. dollars and as a result of any variation as between (i) the rate of exchange at which the U.S. dollar amount is converted into the judgment currency for the purpose of such judgment or order, and (ii) the rate of exchange at which such indemnified person is able to purchase U.S. dollars on the business day following receipt of the amount of the judgment currency actually received by the indemnified person. If the U.S. dollar amount so purchased is greater than the judgment or order originally due to the indemnified person in U.S. dollars, the indemnified person shall promptly return the amount of any excess to the Parent Guarantor or the Issuer, as applicable. The foregoing indemnity shall
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constitute a separate and independent obligation of the Parent Guarantor and the Issuer and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. The term rate of exchange shall include any premiums and costs of exchange payable in connection with the purchase of, or conversion into, the relevant currency.
Section 24. Contractual Recognition of Bail-In. Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between any of the parties hereto, each of the parties acknowledges, accepts, and agrees that any BRRD Liability of a BRRD Party hereto arising under this Agreement may be subject to the exercise of Statutory Loss Absorption Powers by the Relevant Resolution Authority and acknowledges, accepts, consents to and agrees to be bound by:
(a) |
the effect of the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority in relation to any BRRD Liability of a BRRD Party under this Agreement, which exercise (without limitation) may include and result in any of the following, or a combination thereof: |
(i) |
the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; |
(ii) |
the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of the relevant BRRD Party or another person (and the issue to or conferral on it of such shares, securities or obligations); |
(iii) |
the cancellation of the BRRD Liability; or |
(iv) |
the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are due, including by suspending payment for a temporary period; and |
(b) |
the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority. |
For the purposes of this section,
Bail-in Legislation means (a) in relation to a member state of the European Economic Area which has implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to time and (b) in relation to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law or regulation applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings);
BRRD means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms, as amended or replaced from time to time;
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BRRD Liability means a liability in respect of which the relevant Statutory Loss Absorption Powers in the applicable Bail-in Legislation may be exercised;
BRRD Party means any party hereto that is subject to Statutory Loss Absorption Powers;
EU Bail-in Legislation Schedule means the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time to time at http://www.lma.eu.com/pages.aspx?p=499;
Relevant Resolution Authority means, in relation to any BRRD Party, the resolution authority with the ability to exercise any Statutory Loss Absorption Powers as defined in this section; and
Statutory Loss Absorption Powers means (a) in relation to a member state of the European Economic Area which has implemented, or which at any time implements, the BRRD, any write-down, conversion, transfer, modification, suspension or similar or related power existing from time to time under, and exercised in compliance with, any applicable laws, regulations, rules or requirements pursuant to the applicable Bail-in Legislation and (b) in relation to the United Kingdom, any powers of the Relevant Resolution Authority under the Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or other financial institution or affiliate of a bank, investment firm or other financial institution, to cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
Section 25. Recognition of the U.S. Special Resolution Regimes. (i) In the event that any Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States. (ii) In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.
For purposes of this Section 25 a BHC Act Affiliate has the meaning assigned to the term affiliate in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k). Covered Entity means any of the following: (i) a covered entity as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a covered bank as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a covered FSI as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b). Default Right has the meaning
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assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable. U.S. Special Resolution Regime means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.
Section 26. MiFID II Product Governance; UK MiFIR Product Governance.
a) Solely for the purposes of the requirements of Article 9(8) of the MiFID Product Governance rules under EU Delegated Directive 2017/593, as amended (the Product Governance Rules) regarding the mutual responsibilities of manufacturers under the Product Governance Rules:
(i) each of Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH (each a Manufacturer and together the Manufacturers) acknowledges to each other Manufacturer that it understands the responsibilities conferred upon it under the Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Prospectus and any announcements in connection with the Securities; and
(ii) each Underwriter other than those who are (a) a Manufacturer or (b) not subject to the Product Governance Rules, the Parent Guarantor and the Issuer note the application of the Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Securities by the Manufacturers and the related information set out in the Prospectus and any announcements in connection with the Securities.
b) Solely for the purposes of the requirements of 3.2.7R of the FCA Handbook Product Intervention and Product Governance Sourcebook (the UK MiFIR Product Governance Rules) regarding the mutual responsibilities of manufacturers under the UK MiFIR Product Governance Rules:
(i) Barclays Bank PLC (the UK Manufacturer) acknowledges that it understands the responsibilities conferred upon it under the UK MiFIR Product Governance Rules relating to each of the product approval process, the target market and the proposed distribution channels as applying to the Securities and the related information set out in the Prospectus and any announcements in connection with the Securities; and
(ii) each Underwriter other than those who are (a) a UK Manufacturer or (b) not subject to the UK MiFIR Product Governance Rules, the Parent Guarantor and the Issuer note the application of the UK MiFIR Product Governance Rules and acknowledge the target market and distribution channels identified as applying to the Securities by the UK Manufacturer and the related information set out in the Prospectus and any announcements in connection with the Securities.
[Signature Pages Follow]
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If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the Issuer the enclosed copies hereof, whereupon this instrument, along with all counterparts hereof, shall become a binding agreement in accordance with its terms.
Very truly yours, | ||||
THERMO FISHER SCIENTIFIC (FINANCE I) B.V., as Issuer | ||||
By: | /s/ Anthony H. Smith | |||
Name: | Anthony H. Smith | |||
Title: | Managing Director | |||
THERMO FISHER SCIENTIFIC INC., as Parent Guarantor | ||||
By: | /s/ Michael A. Boxer | |||
Name: | Michael A. Boxer | |||
Title: | Senior Vice President and General Counsel |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Barclays Bank PLC | ||
By: | /s/ Emily Wilson | |
Name: Emily Wilson | ||
Title: Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Morgan Stanley Europe SE |
||
By: | /s/ Martin Brodka | |
Name: Martin Brodka | ||
Title: Executive Director | ||
By: | /s/ Sebastian Mentzen | |
Name: Sebastian Mentzen | ||
Title: Vice President |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
BofA Securities Europe SA |
||
By: | /s/ Francois Planque | |
Name: Francois Planque | ||
Title: Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Citigroup Global Markets Europe AG | ||
By: | /s/ Annabel Ballance | |
Name: Annabel Ballance | ||
Title: Delegated Signatory | ||
By: | /s/ Tim Patzold | |
Name: Tim Patzold | ||
Title: Senior Counsel |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Mizuho Securities Europe GmbH | ||
By: | /s/ Wolfgang Koehler | |
Name: Wolfgang Koehler | ||
Title: Chief Risk Officer | ||
By: | /s/ Andreas Rieth | |
Name: Andreas Rieth | ||
Title: General Counsel & Company Secretary |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
BNP Paribas | ||
By: | /s/ Hugh Pryse-Davies | |
Name: Hugh Pryse-Davies | ||
Title: Authorised Signatory | ||
By: | /s/ Benedict Foster | |
Name: Benedict Foster | ||
Title: Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Credit Suisse Bank (Europe), S.A. | ||
By: | /s/ Felipe Portillo | |
Name: Felipe Portillo | ||
Title: Managing Director | ||
By: | /s/ Fabien Antignac | |
Name: Fabien Antignac | ||
Title: Managing Director |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Deutsche Bank Aktiengesellschaft | ||
By: | /s/ John C. McCabe | |
Name: John C. McCabe | ||
Title: Managing Director | ||
By: | /s/ Ritu Ketkar | |
Name: Ritu Ketkar | ||
Title: Managing Director |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
HSBC Bank plc | ||
By: | /s/ Samantha Riley | |
Name: Samantha Riley | ||
Title: Head of DCM Legal |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
ING Bank N.V., Belgian Branch | ||
By: | /s/ William De Vreede | |
Name: William De Vreede | ||
Title: Head Legal Capital Markets | ||
By: | /s/ Kris Devos | |
Name: Kris Devos | ||
Title: Global Head of Debt Syndicate |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
MUFG Securities (Europe) N.V. | ||
By: | /s/ Yashima Akanuma | |
Name: Yashima Akanuma | ||
Title: Chief Executive Officer |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
U.S. Bancorp Investments, Inc. | ||
By: | /s/ William J. Carney | |
Name: William J. Carney | ||
Title: Managing Director |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Wells Fargo Securities Europe S.A. | ||
By: | /s/ Olivier Gardella | |
Name: Olivier Gardella |
||
Title: Managing Director |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Academy Securities, Inc. |
||
By: |
/s/ Michael Boyd |
|
Name: Michael Boyd |
||
Title: Chief Compliance Officer |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
AmeriVet Securities, Inc. |
||
By: |
/s/ Florian Jaze |
|
Name: Florian Jaze |
||
Title: CFO |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Blaylock Van, LLC | ||
By: | /s/ Eric Standifer | |
Name: Eric Standifer | ||
Title: President & CEO |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
BNY Mellon Capital Markets, LLC | ||
By: | /s/ Dan Klinger | |
Name: Dan Klinger | ||
Title: Managing Director |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
KeyBanc Capital Markets Inc. | ||
By: | /s/ Erica Elsasser | |
Name: Erica Elsasser | ||
Title: Vice President |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Loop Capital Markets LLC | ||
By: | /s/ Sidney Dillard | |
Name: Sidney Dillard | ||
Title: Partner |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Nordea Bank Abp | ||
By: | /s/ Peter Brink Jensen | |
Name: Peter Brink Jensen | ||
Title: Director | ||
By: | /s/ Lise Kilsgaard | |
Name: Lise Kilsgaard | ||
Title: Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
R. Seelaus & Co., LLC | ||
By: | /s/ James Brucia | |
Name: James Brucia | ||
Title: Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
RBC Europe Limited | ||
By: | /s/ Elaine Murray | |
Name: Elaine Murray | ||
Title: Duly Authorised Signatory |
Signature Page to Underwriting Agreement
The foregoing Underwriting Agreement is hereby confirmed and accepted by the Underwriters as of the date first above written.
Scotiabank Europe plc | ||
By: | /s/ James Walter | |
Name: James Walter | ||
Title: Regional Director, Europe Legal | ||
By: | /s/ Cesare Roselli | |
Name: Cesare Roselli | ||
Title: Managing Director |
Signature Page to Underwriting Agreement
SCHEDULE A
2030 Notes | 2033 Notes | 2041 Notes | 2051 Notes | |||||||||||||
Barclays Bank PLC |
| 292,468,000 | | 250,687,000 | | 208,906,000 | | 125,344,000 | ||||||||
Morgan Stanley Europe SE |
292,468,000 | 250,687,000 | 208,906,000 | 125,344,000 | ||||||||||||
BofA Securities Europe SA |
133,700,000 | 114,600,000 | 95,500,000 | 57,300,000 | ||||||||||||
Citigroup Global Markets Europe AG |
178,119,000 | 152,674,000 | 127,228,000 | 76,337,000 | ||||||||||||
Mizuho Securities Europe GmbH |
178,119,000 | 152,674,000 | 127,228,000 | 76,337,000 | ||||||||||||
BNP Paribas |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
Credit Suisse Bank (Europe), S.A. |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
Deutsche Bank Aktiengesellschaft |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
HSBC Bank plc |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
ING Bank N.V., Belgian Branch |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
MUFG Securities (Europe) N.V. |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
SMBC Nikko Capital Markets Europe GmbH |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
U.S. Bancorp Investments, Inc. |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
Wells Fargo Securities Europe S.A. |
54,536,000 | 46,745,000 | 38,954,000 | 23,372,000 | ||||||||||||
Loop Capital Markets LLC |
26,342,000 | 22,578,000 | 18,816,000 | 11,290,000 | ||||||||||||
BNY Mellon Capital Markets, LLC |
17,592,000 | 15,079,000 | 12,566,000 | 7,540,000 | ||||||||||||
KeyBanc Capital Markets Inc. |
17,592,000 | 15,079,000 | 12,566,000 | 7,540,000 | ||||||||||||
Nordea Bank Abp |
17,592,000 | 15,079,000 | 12,566,000 | 7,540,000 | ||||||||||||
RBC Europe Limited |
17,592,000 | 15,079,000 | 12,566,000 | 7,540,000 | ||||||||||||
Scotiabank Europe plc |
17,592,000 | 15,079,000 | 12,566,000 | 7,540,000 | ||||||||||||
Academy Securities, Inc. |
17,500,000 | 15,000,000 | 12,500,000 | 7,500,000 | ||||||||||||
AmeriVet Securities, Inc. |
17,500,000 | 15,000,000 | 12,500,000 | 7,500,000 | ||||||||||||
Blaylock Van, LLC |
17,500,000 | 15,000,000 | 12,500,000 | 7,500,000 | ||||||||||||
R. Seelaus & Co., LLC |
17,500,000 | 15,000,000 | 12,500,000 | 7,500,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
| 1,750,000,000 | | 1,500,000,000 | | 1,250,000,000 | | 750,000,000 | ||||||||
|
|
|
|
|
|
|
|
Schedule A
ANNEX I
Issuer Free Writing Prospectuses
(a) |
Disclosure Package |
Final Term Sheet, dated October 6, 2021
(b) |
Other |
None.
Annex-I
ANNEX II
Additional Written Communication
Electronic (Netroadshow) road show of the Company, dated October 4, 2021
Annex-II
EXHIBIT A-1
Form of Opinion of Wilmer Cutler Pickering Hale and Dorr LLP
EXHIBIT A-2
Form of Opinion of the Parent Guarantors General Counsel
EXHIBIT A-3
Form of Opinion of Linklaters LLP
EXHIBIT B
Final Term Sheet
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-229951
Thermo Fisher Scientific (Finance I) B.V.
1,750,000,000 0.800% Senior Notes due 2030 (2030 Notes)
1,500,000,000 1.125% Senior Notes due 2033 (2033 Notes)
1,250,000,000 1.625% Senior Notes due 2041 (2041 Notes)
750,000,000 2.000% Senior Notes due 2051 (2051 Notes)
October 6, 2021
Pricing Term Sheet
Issuer: | Thermo Fisher Scientific (Finance I) B.V. | |
Guarantor: | Thermo Fisher Scientific Inc. | |
Legal Format: | SEC Registered | |
Securities: |
0.800% Senior Notes due 2030 1.125% Senior Notes due 2033 1.625% Senior Notes due 2041 2.000% Senior Notes due 2051 |
|
Aggregate Principal Amount: |
2030 Notes: 1,750,000,000 2033 Notes: 1,500,000,000 2041 Notes: 1,250,000,000 2051 Notes: 750,000,000 |
|
Stated Maturity Date: |
2030 Notes: October 18, 2030 2033 Notes: October 18, 2033 2041 Notes: October 18, 2041 2051 Notes: October 18, 2051 |
|
Issue Price: |
2030 Notes: 99.810% of the principal amount 2033 Notes: 99.732% of the principal amount 2041 Notes: 98.171% of the principal amount 2051 Notes: 99.331% of the principal amount |
|
Coupon (Interest Rate): |
2030 Notes: 0.800% per annum, paid annually 2033 Notes: 1.125% per annum, paid annually 2041 Notes: 1.625% per annum, paid annually 2051 Notes: 2.000% per annum, paid annually |
|
Mid-Swaps Yield: |
2030 Notes: 0.122% 2033 Notes: 0.299% 2041 Notes: 0.534% 2051 Notes: 0.530% |
|
Spread to Mid-Swap: |
2030 Notes: +70 basis points 2033 Notes: +85 basis points 2041 Notes: +120 basis points 2051 Notes: +150 basis points |
Yield to Maturity: |
2030 Notes: 0.822% 2033 Notes: 1.149% 2041 Notes: 1.734% 2051 Notes: 2.030% |
|
Benchmark Bund: |
2030 Notes: DBR 0.000% due August 2030 2033 Notes: DBR 0.000% due August 2031 2041 Notes: DBR 4.750% due July 2040 2051 Notes: DBR 0.000% due August 2050 |
|
Benchmark Bund Price / Yield: |
2030 Notes: 102.500 / -0.279% 2033 Notes: 101.875 / -0.188% 2041 Notes: 187.740 / 0.046% 2051 Notes: 91.885 / 0.294% |
|
Spread to Benchmark Bund: |
2030 Notes: +110.1 basis points 2033 Notes: +133.7 basis points 2041 Notes: +168.8 basis points 2051 Notes: +173.6 basis points |
|
Interest Payment Dates: | October 18 of each year, commencing on October 18, 2022 | |
Day Count Convention: | Actual/Actual (ICMA) | |
Business Days: | New York, London, TARGET2 | |
Payment Business Day Convention: | Following, unadjusted | |
Make-Whole Call: |
2030 Notes: +20 basis points (prior to July 18, 2030) 2033 Notes: +20 basis points (prior to July 18, 2033) 2041 Notes: +25 basis points (prior to April 18, 2041) 2051 Notes: +30 basis points (prior to April 18, 2051) |
|
Par Call: |
2030 Notes: On or after July 18, 2030 2033 Notes: On or after July 18, 2033 2041 Notes: On or after April 18, 2041 2051 Notes: On or after April 18, 2051 |
|
Settlement Date: | October 18, 2021 (T+7) | |
Trade Date: | October 6, 2021 | |
Currency of Payment: | All payments of principal of, and premium, if any, and interest on, the notes, including any payments made upon any redemption of the notes, will be made in euro. If the euro is unavailable to the issuer or, in the case of the guarantee, the guarantor, due to the imposition of exchange controls or other circumstances beyond the issuers or the guarantors control or if the euro is no longer being used by the then member states of the European Economic and Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the notes will be made in U.S. dollars until the euro is again available to the issuer, or, in the case of the guarantee, the guarantor or so used. |
Payment of Additional Amounts: | Subject to certain exceptions and limitations, the issuer and the guarantor may be required to pay as additional interest to certain holders of notes such amounts as may be necessary so that every net payment on such holders notes after deduction or withholding for or on account of any present or future tax, assessment or other governmental charge of whatever nature imposed upon, or as a result of, such payment by the Netherlands or the United States (or any political subdivision or taxing authority thereof or therein), will not be less than the amount provided for in such holders notes to be then due and payable. | |
Redemption for Tax Reasons: | The issuer may redeem all, but not less than all, of a series of notes in the event of certain changes in the tax law of the Netherlands or the United States (or any political subdivision or taxing authority thereof or therein) if, in the written opinion of independent counsel chosen by the issuer or the guarantor, there is a material probability that the issuer or the guarantor will become obligated to pay additional interest on such series of notes as described above under Payment of Additional Amounts. The redemption would be at a redemption price equal to 100% of the principal amount of the notes to be redeemed, together with accrued and unpaid interest to, but not including, the date fixed for redemption. | |
Purchase of Notes Upon a Change of Control Triggering Event: | Upon the occurrence of a Change of Control Triggering Event (as defined in the prospectus supplement related to the notes), with respect to any series of notes, the issuer may, in certain circumstances, be required to make an offer to purchase such series of notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase. | |
Denominations: | 100,000 x 1,000 | |
ISIN / Common Code: |
2030 Notes: XS2366407018 / 236640701 2033 Notes: XS2366415110 / 236641511 2041 Notes: XS2366415201 / 236641520 2051 Notes: XS2366415540 / 236641554 |
|
Listing: | Application has been made for the notes to be admitted to the Official List of Euronext Dublin and traded on the GEM of Euronext Dublin. If such a listing is obtained, the issuer has no obligation to maintain such listing and may delist the notes at any time. | |
Eurosystem Eligibility: | The notes are intended to be held in a manner that will allow for Eurosystem eligibility. This means that the notes are intended upon issue to be deposited with a Common Safekeeper for Euroclear Bank SA/NV and Clearstream Banking, S.A. and does not necessarily mean that the notes will be recognized as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the Eurosystem, either upon issue or at any or all times during their life. Such recognition will depend upon satisfaction of the Eurosystem eligibility criteria. |
Trustee: | The Bank of New York Mellon Trust Company, N.A. | |
Paying Agent: | The Bank of New York Mellon, London Branch | |
Joint Book-Running Managers: |
Barclays Bank PLC Morgan Stanley Europe SE BofA Securities Europe SA Citigroup Global Markets Europe AG Mizuho Securities Europe GmbH BNP Paribas Credit Suisse Bank (Europe), S.A. Deutsche Bank Aktiengesellschaft HSBC Bank plc ING Bank N.V., Belgian Branch MUFG Securities (Europe) N.V. SMBC Nikko Capital Markets Europe GmbH U.S. Bancorp Investments, Inc. Wells Fargo Securities Europe S.A. |
|
Co-Managers: |
Academy Securities, Inc. AmeriVet Securities, Inc. Blaylock Van, LLC BNY Mellon Capital Markets, LLC KeyBanc Capital Markets Inc. Loop Capital Markets LLC Nordea Bank Abp R. Seelaus & Co., LLC RBC Europe Limited Scotiabank Europe plc |
We expect to deliver the notes against payment for the notes on or about October 18, 2021, which is the seventh business day following the date of the pricing of the notes. Under the E.U. Central Securities Depositaries Regulation, trades in the secondary market generally are required to settle in two London business days unless the parties to a trade expressly agree otherwise. Also under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two New York business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes before the second business day prior to October 18, 2021 will be required to specify alternative settlement arrangements to prevent a failed settlement.
The guarantor has filed a registration statement with the U.S. Securities and Exchange Commission (the SEC) (including a prospectus), filed by the issuer and the guarantor, for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement thereto in that registration statement, as amended, and other documents the guarantor has filed with the SEC for more complete information about the guarantor, the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the joint book-running managers can arrange to send you the prospectus and prospectus supplement thereto if you request it by calling Barclays Bank PLC at +1 888 603 5847, Morgan Stanley Europe SE at +44 (0)20 7677 4799, BofA Securities Europe SA at +33(0) 1 8770 0000, Citigroup Global Markets Europe AG at +1 800 831 9146 or Mizuho Securities Europe GmbH at +49 69 42729 3000.
MiFID II and/or the UK MiFIR Product Governance Rules professionals/ECPs-only / No PRIIPs KID and/or UK PRIIPs KID Manufacturer target market (MIFID II product governance and/or the UK MiFIR Product Governance Rules) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs and/or UK PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA or the United Kingdom.
Exhibit 4.2
Execution Copy
THERMO FISHER SCIENTIFIC (FINANCE I) B.V.,
as Issuer
THERMO FISHER SCIENTIFIC INC.,
as Guarantor
AND
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee
THIRD SUPPLEMENTAL INDENTURE
Dated as of October 18, 2021
0.800% Senior Notes due 2030
1.125% Senior Notes due 2033
1.625% Senior Notes due 2041
2.000% Senior Notes due 2051
THIS THIRD SUPPLEMENTAL INDENTURE (this Supplemental Indenture) is dated as of October 18, 2021 among THERMO FISHER SCIENTIFIC (FINANCE I) B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with its corporate seat (statutaire zetel) in Breda, the Netherlands, and its registered office at Takkebijsters 1, 4817 BL Breda, the Netherlands, registered with the Dutch Trade Register of the Chamber of Commerce under number 66428319 (the Company), THERMO FISHER SCIENTIFIC INC., a Delaware corporation (the Guarantor), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee (the Trustee).
RECITALS
WHEREAS, the Company, the Guarantor and the Trustee executed and delivered an indenture, dated as of August 9, 2016 (the Base Indenture and, as supplemented by this Supplemental Indenture, the Indenture), to provide for the issuance by the Company from time to time of debt securities evidencing the Companys unsecured indebtedness fully and unconditionally guaranteed by the Guarantor.
WHEREAS, the Company has authorized the issuance of 1,750,000,000 aggregate principal amount of the Companys 0.800% Senior Notes due 2030 (the 2030 Notes), 1,500,000,000 aggregate principal amount of the Companys 1.125% Senior Notes due 2033 (the 2033 Notes), 1,250,000,000 aggregate principal amount of the Companys 1.625% Senior Notes due 2041 (the 2041 Notes) and 750,000,000 aggregate principal amount of the Companys 2.000% Senior Notes due 2051 (the 2051 Notes and, together with the 2030 Notes, the 2033 Notes and the 2041 Notes, the Notes).
WHEREAS, the Company and the Guarantor desire to enter into this Supplemental Indenture pursuant to Section 9.01 of the Base Indenture to establish the form and terms of the Notes in accordance with Sections 2.01 and 2.02 of the Base Indenture.
WHEREAS, the Guarantor desires to guarantee the Notes on the terms set forth in Article XIV of the Base Indenture.
WHEREAS, the entry into this Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the Base Indenture.
WHEREAS, all things necessary to make this Supplemental Indenture a valid and legally binding agreement according to its terms have been done.
NOW, THEREFORE, for and in consideration of the foregoing premises and for other good and valuable consideration, the Company, the Guarantor and the Trustee, mutually covenant and agree for the equal and proportionate benefit of the respective Holders from time to time of the Notes as follows:
2
ARTICLE I
Section 1.1 Defined Terms.
(1) Capitalized terms used but not defined in this Supplemental Indenture shall have the meanings ascribed thereto in the Base Indenture.
(2) A term defined anywhere in this Supplemental Indenture has the same meaning throughout.
(3) The singular includes the plural and vice versa.
(4) Headings are for convenience of reference only and do not affect the interpretation.
(5) As used herein, the following defined terms shall have the following meanings with respect to the Notes and this Supplemental Indenture only:
Below Investment Grade Rating Event means, with respect to a series of Notes, such Notes are downgraded below Investment Grade Rating by any two of the Rating Agencies on any date during the period (the Trigger Period) commencing 60 days prior to the first public announcement by the Company or the Guarantor of the occurrence of a Change of Control (or pending Change of Control) and ending 60 days following consummation of such Change of Control (which Trigger Period shall be extended so long as the rating of such Notes is under publicly announced consideration for possible downgrade by at least two of such Rating Agencies on such 60th day, such extension to last with respect to each such Rating Agency until the date on which such Rating Agency considering such possible downgrade either (x) rates such Notes below Investment Grade or (y) publicly announces that it is no longer considering such Notes for possible downgrade, provided that no such extension will occur if on such 60th day such Notes are rated Investment Grade by at least two of such Rating Agencies in question and are not subject to review for possible downgrade by such Rating Agencies). The Trustee shall not be responsible for monitoring, or charged with knowledge of, the ratings of the Notes.
Business Day means any day, other than a Saturday or Sunday, (1) which is not a day on which banking institutions in The City of New York or London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated Real-Time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, is open.
Change of Control means the occurrence of any of the following: (1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Guarantor and its subsidiaries taken as a whole to any person (as that term is used in Section 13(d)(3) of the Exchange Act) other than the Guarantor or one of its direct or indirect wholly-owned subsidiaries; (2) the consummation of any transaction (including, without limitation, any merger or consolidation) as a result of which any person (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the Guarantors outstanding Voting Stock or other Voting Stock into which the Guarantors Voting Stock is reclassified, consolidated, exchanged or changed, measured by voting power rather than number of shares; (3) the Guarantor consolidates with, or merges with or into, any person or
3
group (as that term is used in Section 13(d)(3) of the Exchange Act), or any person or group consolidates with, or merges with or into, the Guarantor, in any such event pursuant to a transaction in which any of the Guarantors Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any such transaction where the shares of the Guarantors Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or indirect parent company of the surviving person immediately after giving effect to such transaction; or (4) the adoption of a plan relating to the Guarantors liquidation or dissolution. Notwithstanding the foregoing, a transaction will not be deemed to involve a Change of Control if (a) the Guarantor becomes a direct or indirect wholly-owned subsidiary of a holding company (which shall include a parent company) and (b)(i) the holders of the Voting Stock of such holding company immediately following that transaction are substantially the same as the holders of the Guarantors Voting Stock immediately prior to that transaction or (ii) no person (as that term is used in Section 13(d)(3) of the Exchange Act) (other than a holding company satisfying the requirements of this sentence) becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the voting power of the Voting Stock of such holding company immediately following such transaction.
Change of Control Triggering Event means, with respect to any series of Notes, the occurrence of both a Change of Control and a Below Investment Grade Rating Event.
Clearing System Business Day means Monday to Friday, except December 25 and January 1.
Clearstream means Clearstream Banking S.A.
Common Safekeeper means, with respect to the Global Notes, Euroclear, or such successor as Euroclear shall designate.
Common Service Provider or CSP means, with respect to the Global Notes, The Bank of New York Mellon, London Branch, which is the entity appointed by the ICSDs to service the Notes, or such successor as the ICSDs shall designate.
Comparable Bond Rate means, for any Optional Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated yield to maturity (on a day count basis), computed as of the third Business Day immediately preceding that Optional Redemption Date, of the Comparable Government Issue, assuming a price for the Comparable Government Issue (expressed as a percentage of its principal amount) equal to the Comparable Price for that Optional Redemption Date.
Comparable Government Issue means, with respect to any series of Notes to be redeemed, the euro-denominated security issued by the German government selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of such series of Notes to be redeemed (assuming that such series of Notes to be redeemed matured on its applicable Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such series of Notes to be redeemed.
4
Comparable Price means, with respect to any Optional Redemption Date, (a) the average of the Reference Dealer Quotations for such Optional Redemption Date, after excluding the highest and lowest of the Reference Dealer Quotations, (b) if the Company obtains fewer than four Reference Dealer Quotations, the arithmetic average of those quotations or (c) if the Company obtains only one Reference Dealer Quotation, such Reference Dealer Quotation.
Electronic Means shall mean the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the Trustee as available for use in connection with its services hereunder.
Euroclear means Euroclear Bank S.A./N.V.
euro or means the single currency introduced at the third stage of the European Economic and Monetary Union pursuant to the Treaty establishing the European Community, as amended.
Fitch means Fitch Ratings, Limited, and any successor to its rating agency business.
Global Note means with respect to each series of Notes, the permanent, registered security in global form which will represent the relevant series of Notes on issue and includes any Global Note intended to be held under the new Safekeeping Structure and registered in the name of a nominee for the Common Safekeeper.
ICMA means the International Capital Markets Association.
ICSD(s) means Clearstream and/or Euroclear, as the case may be and/or any additional or alternative clearing system approved by Parent, the Company, the Trustee and the Paying Agent (provided that such additional or alternative clearing system must also be authorized to hold a Global Note as eligible collateral for Eurosystem monetary policy and intra-day credit operations) collectively.
Independent Investment Banker means one of the Reference Dealers appointed by the Company to act as the Independent Investment Banker.
Internal Revenue Code means the U.S. Internal Revenue Code of 1986, as amended.
Investment Grade Rating means a rating by Moodys equal to or higher than Baa3 (or the equivalent under a successor rating category of Moodys) or a rating by S&P equal to or higher than BBB- (or the equivalent under any successor rating category of S&P) or a rating by Fitch equal to or higher than BBB- (or the equivalent under any successor rating category of Fitch).
5
Moodys means Moodys Investors Service, Inc., and any successor to its rating agency business.
New Safekeeping Structure or NSS means a structure where a Global Note is registered in the name of a Common Safekeeper (or its nominee) and will be deposited on or about the issue date with the Common Safekeeper.
Optional Redemption Date when used with respect to any Note to be redeemed at the Companys option, means the date fixed for such redemption by or pursuant to Section 1.4A of this Supplemental Indenture.
Optional Redemption Price when used with respect to any Note to be redeemed at the Companys option, means the price at which it is to be redeemed pursuant to Section 1.4A of this Supplemental Indenture.
Par Call Date means July 18, 2030 in the case of the 2030 Notes; July 18, 2033 in the case of the 2033 Notes; April 18, 2041 in the case of the 2041 Notes; and April 18, 2051 in the case of the 2051 Notes.
Paying Agency Agreement means the Paying Agency Agreement, dated as of October 18, 2021 between the Company and the Paying Agent.
Paying Agent means The Bank of New York Mellon, London Branch, or any successor.
Primary Bond Dealer means a broker or dealer of, and/or a market maker in German government bonds.
Rating Agencies means (1) Moodys, S&P and Fitch; and (2) if any of Moodys, S&P or Fitch ceases to rate the applicable series of Notes or fails to make a rating of such Notes publicly available for any reason, a nationally recognized statistical rating organization within the meaning of Section 3(a)(62) under the Exchange Act, selected by the Company (as certified by a resolution of its Board of Directors) as a replacement agency for any of Moodys, S&P or Fitch, or all of them, as the case may be.
Reference Dealer means each of (i) Barclays Bank PLC, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH and their respective affiliates or successors and (ii) one other nationally recognized investment banking firm (or its affiliate) that is a Primary Bond Dealer that the Company selects in connection with the particular redemption, and each of their respective successors, provided that if at any time any of the above is not a Primary Bond Dealer, the Company will substitute that entity with another nationally recognized investment banking firm that the Company selects that is a Primary Bond Dealer.
Reference Dealer Quotations means, with respect to each Reference Dealer and any Optional Redemption Date, the arithmetic average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Government Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker by such Reference Dealer at 11:00 a.m., London time, on the third Business Day preceding such Optional Redemption Date.
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Remaining Scheduled Payments means, with respect to any series of Notes to be redeemed, the remaining scheduled payments of the principal thereof and interest thereon that would be due after the related Optional Redemption Date but for such redemption (assuming that such series of Notes to be redeemed matured on its applicable Par Call Date); provided, however, that, if such Optional Redemption Date is not an interest payment date with respect to such series of Notes, the amount of the next succeeding scheduled interest payment thereon will be reduced by the amount of interest accrued thereon to such Optional Redemption Date.
S&P means S&P Global Ratings, a division of S&P Global, Inc., and any successor to its rating agency business.
Specified Office of the Paying Agent means, initially, the London Branch of The Bank of New York Mellon, located at One Canada Square, London E14 5AL, England.
TARGET2 Business Day means any day on which the Trans-European Automated Real-Time Gross Settlement Express Transfer System(TARGET2), or any successor system, is open for business.
Treasury Regulations means the U.S. Treasury Regulations promulgated under the Internal Revenue Code.
United States means the United States of America, the states of the United States, and the District of Columbia.
Voting Stock means with respect to any specified person (as that term is used in Section 13(d)(3) of the Exchange Act) Capital Stock of any class or kind the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such person, even if the right to vote has been suspended by the happening of such a contingency.
Section 1.2 Terms of the Notes.
The following terms relate to the Notes:
(1) The 2030 Notes shall constitute a separate series of Notes having the title 0.800% Senior Notes due 2030, the 2033 Notes shall constitute a separate series of Notes having the title 1.125% Senior Notes due 2033, the 2041 Notes shall constitute a separate series of Notes having the title 1.625% Senior Notes due 2041 and the 2051 Notes shall constitute a separate series of Notes having the title 2.000% Senior Notes due 2051.
(2) The aggregate principal amount of the 2030 Notes (the Initial 2030 Notes), the 2033 Notes (the Initial 2033 Notes), the 2041 Notes (the Initial 2041 Notes) and the 2051 Notes (the Initial 2051 Notes, and, together with the Initial 2030 Notes, the Initial 2033 Notes and the Initial 2041 Notes, the Initial Notes) that may be initially authenticated, delivered and effectuated under the Indenture shall be 1,750,000,000, 1,500,000,000,
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1,250,000,000 and 750,000,000, respectively. The Company may from time to time, without the consent of the Holders of any series of Notes, issue additional 2030 Notes (the Additional 2030 Notes), additional 2033 Notes (the Additional 2033 Notes), additional 2041 Notes (the Additional 2041 Notes) and additional 2051 Notes (the Additional 2051 Notes, and, together with the Additional 2030 Notes, the Additional 2033 Notes and the Additional 2041 Notes, the Additional Notes) having the same terms (except for the issue date, offering price and, if applicable, the first interest payment date) as the Initial 2030 Notes, Initial 2033 Notes, Initial 2041 Notes and the Initial 2051 Notes, as the case may be. Any Additional Notes of a series and the Initial Notes of such series shall constitute a single series under the Indenture; provided that if any Additional Notes of a series are not fungible with the Initial Notes of such series for U.S. federal income tax purposes, such Additional Notes of such series shall not have the same ISIN or Common Code as the Initial Notes of such series. All references to a series of Notes shall include both the Initial Notes and any Additional Notes of such series, unless the context otherwise requires. The aggregate principal amount of each of the 2030 Notes, 2033 Notes, 2041 Notes and the 2051 Notes shall be unlimited. The entire respective outstanding principal amount of the 2030 Notes, 2033 Notes, 2041 Notes and the 2051 Notes shall be payable on October 18, 2030, October 18, 2033, October 18, 2041 and October 18, 2051, respectively. The principal of each Note payable at maturity or upon earlier redemption shall be paid against presentation and surrender of such Note at the office or agency maintained for such purposes in London, initially, the Specified Office of the Paying Agent. In the case of a Global Note in respect of the Notes intended to be held under the New Safekeeping Structure (the NSS), save for the purposes of determining the Notes that are outstanding for consent or voting purposes under the Base Indenture, the Trustee shall rely on the records of the ICSDs in relation to any determination of the principal amount outstanding of such Global Note. For this purpose records means the records that each of the ICSDs holds for its customers which reflects the amount of such customers interest in the Notes.
(3) [Reserved].
(4) The rate at which the 2030 Notes shall bear interest shall be 0.800% per annum, the rate at which the 2033 Notes shall bear interest shall be 1.125% per annum, the rate at which the 2041 Notes shall bear interest shall be 1.625% per annum and the rate at which the 2051 Notes shall bear interest shall be 2.000% per annum. The date from which interest shall accrue on each series of Notes shall be the most recent Interest Payment Date to which interest has been paid or provided for or, if no interest has been paid, from October 18, 2021. The Interest Payment Dates for the Notes shall be October 18 of each year, beginning on October 18, 2022; provided that if any Interest Payment Date for any series of Notes falls on a day that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date the payment to Holders was due and no interest shall accrue on the amount so payable for the period from and after that Interest Payment Date. The regular record date for the Notes shall be the Clearing System Business Day immediately preceding each Interest Payment Date. Interest on the Notes shall be computed on the basis of an ACTUAL/ACTUAL (ICMA) (as defined in the rulebook of ICMA) day count convention.
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(5) The Notes shall be issuable in whole in the form of Global Notes, registered in the name of the nominee of Euroclear as Common Safekeeper and deposited with, or on behalf of, the Common Safekeeper for credit by the Common Safekeeper to the respective accounts of beneficial owners represented thereby (or such other accounts as they may direct). Each Note shall be substantially in the form attached hereto as Exhibit A, the terms of which are herein incorporated by reference. The Notes shall be issuable in denominations of 100,000 or any integral multiple of 1,000 in excess thereof.
(6) The Notes may be redeemed at the option of the Company prior to the maturity date, as provided in Section 1.4A and 1.4B hereof.
(7) The Notes shall not have the benefit of any sinking fund.
(8) Except as provided herein, the Holders shall have no special rights in addition to those provided in the Base Indenture upon the occurrence of any particular events.
(9) The Notes shall be general unsecured and unsubordinated obligations of the Company and shall be ranked equally among themselves.
(10) The Notes are not convertible into shares of common stock or other securities of the Company.
(11) The covenants set forth in Section 1.5 hereof shall be applicable to the Notes.
(12) The transfer and exchange provisions set forth in Section 2.05 of the Base Indenture shall be applicable to the Notes.
(13) All payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Notes shall be payable in euro; provided, however, that if, on or after October 6, 2021, euro is unavailable to the Company or, in the case of the Guarantee, the Guarantor due to the imposition of exchange controls or other circumstances beyond the Companys or the Guarantors control or if the euro is no longer being used by the then member states of the European Economic and Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes shall be made in U.S. dollars until the euro is again available to the Company or, in the case of the Guarantee, the Guarantor or so used. In such circumstances, the amount payable on any date in euro shall be converted by the Company into U.S. dollars at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second Business Day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recent U.S. dollar/euro exchange rate published in The Wall Street Journal on or prior to the second Business Day prior to the relevant payment date. Any payment in respect of the Notes so made in U.S. dollars shall not constitute an Event of Default under the Notes or the Indenture. Neither the Trustee nor the Paying Agent shall have any responsibility for any calculation or conversion in connection with the foregoing. Any references elsewhere in the Indenture or the Notes to payments being made in euro notwithstanding, payments shall be made in U.S. dollars to the extent set forth in this Section 1.2(13).
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(14) The Bank of New York Mellon, London Branch, shall initially act as the Paying Agent in accordance with the terms of the Paying Agency Agreement. The Company hereby initially designates the Specified Office of the Paying Agent as the office to be maintained by it where Notes may be presented for payment, registration of transfer or exchange, and where notices to or demands upon the Company in respect of the Notes or the Indenture may be served. The Security Registrar for the Notes shall initially be the Trustee. Upon notice to the Trustee, the Company may at any time vary or terminate the appointment of any Paying Agent or Security Registrar, appoint additional or other Paying Agents or Security Registrars and approve any change in the office through which any Paying Agent or Security Registrar acts. The Company, the Guarantor or any of the Guarantors Subsidiaries may act in any such capacity.
(15) In order to provide for all payments due on the Notes as the same shall become due, the Company shall cause to be paid to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior to the payment date of each Note, at such bank as the Paying Agent shall previously have notified the Company, in immediately available funds sufficient to meet all payments due on such Notes.
(16) Notwithstanding any other provision of this Supplemental Indenture, the Trustee and Paying Agent shall be entitled to make a deduction or withholding from any payment which it makes under this Supplemental Indenture for or on account of any present or future taxes, duties or charges if and to the extent so required by any applicable law and any current or future regulations or agreements thereunder or official interpretations thereof or any law implementing an intergovernmental approach thereto or by virtue of the relevant Holder failing to satisfy any certification or other requirements in respect of the Notes, in which event the Trustee or Paying Agent shall make such payment after such withholding or deduction has been made and shall account to the relevant authorities for the amount so withheld or deducted and shall have no obligation to gross up any payment hereunder or pay any additional amount as a result of such withholding tax.
(17) The Notes shall have the benefit of a Guarantee from the Guarantor on the terms set forth in Article XIV of the Base Indenture.
Section 1.3 Payment of Additional Amounts.
The provisions of Section 15.02 of the Base Indenture shall apply to the Notes. Whenever in the Notes there is mentioned, in any context, the payment of the principal of or interest or any other amounts on, or in respect of, such Notes, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms hereof and the Base Indenture, and express mention of the payment of Additional Amounts in any provision of the Notes shall not be construed as excluding the payment of Additional Amounts in those provisions thereof where such express mention is not made. Additional Amounts will not be payable by the Company with respect to a payment made to a Holder of Securities where such Holder is subject to taxation on such payment by a relevant taxing jurisdiction for or on account of any withholding or deduction required to be made from payments in respect of debt securities pursuant to the Dutch Withholding Tax Act 2021 (Wet bronbelasting 2021).
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Section 1.4A Optional Redemption.
(1) The provisions of Article III of the Base Indenture, as supplemented and amended by the provisions of this Supplemental Indenture, shall apply to the Notes with respect to this Section 1.4A.
(2) Prior to their applicable Par Call Date, the Notes of any series shall be redeemable, in whole at any time or in part from time to time, at the Companys option. Upon redemption of the Notes of any series, the Company shall pay an Optional Redemption Price equal to the greater of:
(i) |
100% of the principal amount of the Notes to be redeemed, and |
(ii) |
the sum of the present values of the Remaining Scheduled Payments of the Notes to be redeemed, discounted to the Optional Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) using a discount rate equal to the Comparable Bond Rate, plus 20 basis points, in the case of the 2030 Notes, 20 basis points, in the case of the 2033 Notes, 25 basis points, in the case of the 2041 Notes, and 30 basis points, in the case of the 2051 Notes; |
plus, in addition to such Optional Redemption Price, accrued and unpaid interest on the Notes being redeemed, if any, to, but excluding, the Optional Redemption Date.
In addition, on and after the applicable Par Call Date, the Notes of each series shall be redeemable, in whole at any time or in part from time to time, at the Companys option, at an Optional Redemption Price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Optional Redemption Date.
(3) Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Optional Redemption Date shall be payable on the applicable Interest Payment Date to the Holders of such Notes registered as such at the close of business on the applicable regular record date pursuant to the Notes and the Indenture.
(4) On and after the applicable Optional Redemption Date for any series of Notes, interest shall cease to accrue on the Notes to be redeemed or any portion thereof called for redemption, unless the Company defaults in the payment of the Optional Redemption Price and accrued and unpaid interest and Additional Amounts, if any. No later than 10:00 a.m. London time on the Business Day prior to the Optional Redemption Date for any Notes to be redeemed, the Company shall deposit with the Trustee or Paying Agent, funds sufficient to pay the Optional Redemption Price of such Notes on the Optional Redemption Date, and (except if the date fixed for redemption shall be an Interest Payment Date) accrued and unpaid interest and Additional Amounts, if any. If less than all of the Notes of any series are to be redeemed, the Notes to be redeemed shall be selected, in the case of global securities, in accordance with applicable Common Safekeeper procedures and, in the case of definitive securities, in a manner the trustee deems fair and appropriate, unless otherwise required by law or applicable stock exchange requirements; provided that if the Notes are represented by a Global Note intended to be held under the New Safekeeping Structure, beneficial interests in the Notes will be selected
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for redemption by the ICSDs in accordance with their respective standard procedures therefor; provided, however, that no Notes of a principal amount of 100,000 or less shall be redeemed in part. The Security Registrar shall record such redemption in the Security Register and shall provide the details of such redemption to the Common Safekeeper. The Trustee shall cause the Common Service Provider to instruct the Common Safekeeper to make such appropriate entries in their records in respect of all Notes redeemed by the Company to reflect such redemption.
(5) Notice of any optional redemption shall be transmitted at least 10 days but not more than 60 days before the applicable Optional Redemption Date to each Holder of the Notes to be redeemed; provided, however, that the Company shall notify the Trustee of the Optional Redemption Date at least 15 days prior to the date of the giving of such notice (unless a shorter notice shall be satisfactory to the Trustee). Such notice shall be provided in accordance with Section 3.02 of the Base Indenture. If the Optional Redemption Price cannot be determined at the time such notice is to be given, the actual Optional Redemption Price applicable to the Notes that are being redeemed, calculated as described above in clause (2), shall be set forth in an Officers Certificate of the Company delivered to the Trustee no later than two (2) Business Days prior to the Optional Redemption Date. Notice of redemption having been given as provided in the Indenture, the Notes called for redemption shall, on the Optional Redemption Date, become due and payable at the Optional Redemption Price, plus accrued and unpaid interest and Additional Amounts, if any, to, but excluding, the Optional Redemption Date.
Section 1.4B Redemption Upon Changes in Withholding Tax.
The provisions of Section 15.01 of the Base Indenture shall apply to the Notes. The redemption price for any redemption pursuant to this Section 1.4B shall be paid prior to 12:00 noon, London time, on the applicable redemption date or at such later time as is then permitted by the rules of the Common Safekeeper applicable to the Notes (if then registered as Global Notes); provided, that the Company shall deposit or have deposited with the Trustee or the Paying Agent an amount sufficient to pay such redemption price by 10:00 a.m., London time, on the Business Day prior to the date such redemption price is to be paid. If money sufficient to pay the redemption price of the Notes on the applicable redemption date is deposited with the Trustee or Paying Agent on or before such redemption date as provided herein, then on and after such redemption date, interest will cease to accrue on the Notes.
Section 1.5 Change of Control Triggering Event.
The following additional covenants shall apply with respect to the Notes so long as any of the Notes remain Outstanding:
(a) If a Change of Control Triggering Event occurs with respect to any series of the Notes, unless the Company shall have redeemed such series of the Notes in full, as set forth in Section 1.4A or 1.4B of this Supplemental Indenture, the Company shall have defeased such series of the Notes or have satisfied and discharged such series of the Notes, as set forth in Article XI of the Base Indenture, the Company shall make an offer (a Change of Control Offer) to each Holder of the applicable series of the Notes to repurchase any and all of such Holders Notes of such series at a repurchase price in cash equal to 101% of the aggregate principal amount of the Notes to be repurchased (such principal amount to be equal to 100,000
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or any integral multiple of 1,000 in excess thereof), plus accrued and unpaid interest, if any, on the Notes to be repurchased up to, but excluding, the date of repurchase (the Change of Control Payment). Within 30 days following any Change of Control Triggering Event, notice shall be delivered to the Holders of Notes of such series describing the transaction or transactions that constitute the Change of Control Triggering Event and offering to repurchase such Notes on the date specified in the notice, which date will be no earlier than 15 days and no later than 60 days from the date such notice is delivered (the Change of Control Payment Date). Notwithstanding the foregoing, installments of interest whose Stated Maturity is on or prior to the Change of Control Payment Date shall be payable on the applicable Interest Payment Date to the Holders of such Notes registered as such at the close of business on the applicable regular record date pursuant to the Notes and the Indenture.
(b) On the Change of Control Payment Date, the Company shall, to the extent lawful:
(i) |
accept for payment all Notes or portions of Notes of the applicable series properly tendered pursuant to the Change of Control Offer; |
(ii) |
deposit with the Trustee or a paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes of the applicable series properly tendered; and |
(iii) |
deliver or cause to be delivered to the Trustee the Notes properly accepted, together with an Officers Certificate stating (1) the aggregate principal amount of such series of Notes or portions of such series of Notes being repurchased, (2) that all conditions precedent contained herein to make a Change of Control Offer have been complied with and (3) that the Change of Control Offer has been made in compliance with the Indenture. |
The Company shall comply in all material respects with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent such laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Triggering Event. To the extent that the provisions of any such securities laws or regulations conflict with this Section 1.5, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 1.5 by virtue of any such conflict.
Section 1.6 Events of Default.
The provisions of Article VI of the Base Indenture shall be applicable to each series of the Notes, except that clauses (1) through (7) of Section 6.01(a) thereof shall be modified with respect to Notes of a series as follows:
(1) default in the payment of the principal or any premium on such series of Notes when due (whether at maturity, upon acceleration, redemption or otherwise);
(2) default for 30 days in the payment of interest on the Notes of such series when due;
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(3) (i) failure by the Company to comply with Section 1.5 of this Supplemental Indenture with respect to such series or (ii) failure by the Company or the Guarantor to observe or perform any term of the Indenture applicable to such series of Notes (other than those referred to in (1) or (2) above or (3)(i) above) for a period of 90 days after the Company receives a notice of default stating that the Company or the Guarantor is in breach. The notice required under (3)(ii) above must be sent by either the Trustee or Holders of 25% of the principal amount of the applicable series of Notes;
(4) (A) failure by the Company or the Guarantor to pay indebtedness for money borrowed by the Company or the Guarantor or for which the Company or the Guarantor has guaranteed the payment, in an aggregate principal amount of at least $500,000,000, at the later of final maturity and the expiration of any related applicable grace period and such defaulted payment shall not have been made, waived or extended within 30 days or (B) acceleration of the maturity of any indebtedness for money borrowed by the Company or the Guarantor or for which the Company or the Guarantor has guaranteed the payment, in an aggregate principal amount of at least $500,000,000, if such indebtedness has not been discharged in full or such acceleration has not been rescinded or annulled within 30 days; provided, however, that, if the default under the instrument is cured by the Company or the Guarantor, as applicable, or waived by the holders of the indebtedness, in each case as permitted by the governing instrument, then the Event of Default under the Indenture caused by such default will be deemed likewise to be cured or waived;
(5) the entry by a court having competent jurisdiction of:
(A) an order for relief in respect of the Company or the Guarantor as debtor in an involuntary proceeding under any applicable Bankruptcy Law and such order shall remain unstayed and in effect for a period of 60 consecutive days; or
(B) a final and non-appealable order appointing a Custodian of the Company or the Guarantor, or ordering the winding up or liquidation of the affairs of the Company or the Guarantor, and such order shall remain unstayed and in effect for a period of 60 consecutive days;
(6) the commencement by the Company or the Guarantor of a voluntary proceeding under any applicable Bankruptcy Law or the consent by the Company or the Guarantor as debtor to the entry of a decree or order for relief in an involuntary proceeding under any applicable Bankruptcy Law, or the filing by the Company or the Guarantor as debtor of a consent to an order for relief in any involuntary proceeding under any Bankruptcy Law, or to the appointment of a Custodian or the making by the Company or the Guarantor of an assignment for the benefit of creditors; or
(7) the Guarantee of the Notes of such series is determined in a final, non-appealable judgment to be unenforceable or invalid or such Guarantee is asserted in writing by the Company or the Guarantor to no longer be in full force and effect and enforceable in accordance with its terms.
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Section 1.7 Form of Effectuation Instruction for the Notes:
The Common Service Providers form of Effectuation Instruction shall be in substantially the following form:
Issuer: Thermo Fisher Scientific (Finance I) B.V.
Currency and nominal Amount:
ISIN:
Dear Sir/Madam,
We hereby instruct you to effectuate the global note.
Dated: | ||
The Bank of New York Mellon, London Branch | ||
As Common Service Provider | ||
By: | ||
Authorized Signatory |
Section 1.8 Effectuation of the Notes
No Global Note in respect of the Notes shall be valid or obligatory for any purposes until it has been effectuated for or on behalf of the Common Safekeeper.
Section 1.9 Destroy Option
In the case of a Global Note, the Common Safekeeper may destroy such Global Note in accordance with the normal procedures of the Common Safekeeper upon maturity and final redemption of such Global Note.
ARTICLE II
MISCELLANEOUS
Section 2.1 Business Day.
If any maturity date or earlier date of redemption for any series of Notes falls on a day that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date the payment to Holders was due and no interest shall accrue on the amount so payable for the period from and after that maturity date or that date of redemption, as the case may be.
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Section 2.2 [Reserved].
Section 2.3 Confirmation of Indenture.
The Base Indenture, as supplemented and amended by this Supplemental Indenture, is in all respects ratified and confirmed, and the Base Indenture, this Supplemental Indenture and all indentures supplemental thereto shall be read, taken and construed as one and the same instrument.
Section 2.4 Concerning the Trustee.
In carrying out its responsibilities hereunder, the Trustee shall have all of the rights, protections and immunities which it possesses under the Indenture. The recitals contained herein and in the Notes, except the Trustees certificate of authentication, shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or the proceeds thereof.
Section 2.5 Governing Law.
This Supplemental Indenture and the Notes shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State.
Section 2.6 Separability.
In case any provision in this Supplemental Indenture shall for any reason be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
Section 2.7 Counterparts.
This 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. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (e.g., .pdf or .tif) transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes.
The words execution, signed, signature, and words of like import in this Supplemental Indenture, the Indenture or any agreement entered into in connection herewith shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act (e.g. DocuSign).
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Without limitation to the foregoing, and anything in the Indenture to the contrary notwithstanding, (a) any Officers Certificate, Authentication Order, Opinion of Counsel, Security, certificate of authentication appearing on or attached to any Security, or other certificate, opinion of counsel, instrument, agreement or other document delivered pursuant to the Indenture may be executed, attested and transmitted by any of the foregoing electronic means and formats and (b) all references in Section 2.04 or elsewhere in the Base Indenture to the execution, attestation or authentication of any Security or any certificate of authentication appearing on or attached to any Security by means of a manual or facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing electronic means or formats.
Section 2.8 No Benefit.
Nothing in this Supplemental Indenture, express or implied, shall give to any Person other than the parties hereto and their successors or assigns, and the Holders, any benefit or legal or equitable rights, remedy or claim under this Supplemental Indenture or the Base Indenture.
Section 2.9 Power of Attorney.
If any party to this Supplemental Indenture is represented by an attorney or attorneys in connection with the signing and/or execution and/or delivery of this Supplemental Indenture or any agreement or document referred to herein or made pursuant hereto, including any Note, and the relevant power or powers of attorney is or are expressed to be governed by the laws of a particular jurisdiction, it is hereby expressly acknowledged and accepted by the other parties hereto that such laws shall govern the existence and extent of such attorneys or attorneys authority and the effects of the exercise thereof.
Section 2.10 Electronic Means.
The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (Instructions) given pursuant to the Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (Authorized Officers) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee Instructions using Electronic Means and the Trustee in its discretion elects to act upon such Instructions, the Trustees understanding of such Instructions shall be deemed controlling. The Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustees reliance upon and compliance with such Instructions
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notwithstanding such directions conflict or are inconsistent with a subsequent written instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting Instructions than the method(s) selected by the Issuer; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures.
Section 2.11 OFAC Certification and Covenants.
(a) The Company covenants and represents that neither it nor any of its subsidiaries, directors or officers are the target or subject of any sanctions enforced by the US Government, (including, the Office of Foreign Assets Control of the US Department of the Treasury (OFAC)), the United Nations Security Council, the European Union, or Her Majestys Treasury (collectively Sanctions).
(b) The Company covenants and represents that neither it nor any of its subsidiaries, directors or officers will use any part of the proceeds received in connection with the Indenture and the Notes to be issued thereunder or any other of the transaction documents to fund or facilitate any activities of or business with any person who, at the time of such funding or facilitation, to the Companys knowledge after due inquiry, is the subject or target of Sanctions. It is acknowledged and agreed that the covenants and representations in this Section 2.11 are only sought and given to the extent that to do so would not be unenforceable by or in respect of that person by reason of breach of (i) any provision of Council Regulation (EC) No 2271/96 of 22 November 1996 (or any law or regulation implementing such Regulation in any member state of the European Union) or (ii) Council Regulation (EC) No 2271/96 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (or any law or regulation implementing such Regulation in the United Kingdom).
[Signatures on Following Page]
18
IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed all as of the day and year first above written.
THERMO FISHER SCIENTIFIC (FINANCE I) B.V. | ||
By: |
/s/ Anthony H. Smith |
|
Name: Anthony H. Smith | ||
Title: Managing Director | ||
THERMO FISHER SCIENTIFIC INC. | ||
By: |
/s/ Anthony H. Smith |
|
Name: Anthony H. Smith | ||
Title: Vice President, Tax and Treasury and Treasurer |
[Signature Page to Third Supplemental Indenture]
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee | ||
By: |
/s/ Shannon Matthews |
|
Name: Shannon Matthews | ||
Title: Vice President |
[Signature Page to Third Supplemental Indenture]
EXHIBIT A
THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE NOMINEE OF THE ENTITY APPOINTED AS COMMON SAFEKEEPER FOR EUROCLEAR BANK S.A./N.V. (EUROCLEAR) AND CLEARSTREAM BANKING S.A. (CLEARSTREAM).
[ ]%1 SENIOR NOTES DUE [ ]2
No. [ ] |
[ ] | |
ISIN No. [ ]3 |
THERMO FISHER SCIENTIFIC (FINANCE I) B.V.
(a private company with limited liability (besloten vennootschap met beperkte
aansprakelijkheid) incorporated under the laws of the Netherlands having its corporate seat
(statutaire zetel) in Breda, The Netherlands)
promises to pay to [ ] or registered assigns, the principal sum of [ ] Euro on [ ]4.
Interest Payment Date: [ ]
Record Date: The Clearing System Business Day immediately preceding the applicable Interest Payment Date.
Each holder of this Security (as defined below), by accepting the same, agrees to and shall be bound by the provisions hereof and of the Indenture described herein, and authorizes and directs the Trustee described herein on such holders behalf to be bound by such provisions. Each holder of this Security hereby waives all notice of the acceptance of the provisions contained herein and in the Indenture and waives reliance by such holder upon said provisions.
This Security shall not be entitled to any benefit under the Indenture, or be valid or become obligatory for any purpose, until the Certificate of Authentication hereon shall have been signed by or on behalf of the Trustee and until it has been effectuated for and on behalf of the Common Safekeeper. The provisions of this Security are continued on the reverse side hereof, and such continued provisions shall for all purposes have the same effect as though fully set forth at this place.
This is to certify that the person whose name is entered in the register is the holder of the aggregate nominal amount of [ ].
1 |
2030 Notes: 0.800%; 2033 Notes: 1.125%; 2041 Notes: 1.625%; and 2051 Notes: 2.000% |
2 |
2030 Notes: 2030; 2033 Notes: 2033; 2041 Notes: 2041; and 2051 Notes: 2051 |
3 |
2030 Notes: XS2366407018; 2033 Notes: XS2366415110; 2041 Notes: XS2366415201; and 2051 Notes: XS2366415540 |
4 |
2030 Notes: October 18, 2030; 2033 Notes: October 18, 2033; 2041 Notes: October 18, 2041; and 2051 Notes: October 18, 2051 |
A-1
IN WITNESS WHEREOF, the Company has caused this instrument to be signed in accordance with Section 2.04 of the Base Indenture.
Date: [ ]
THERMO FISHER SCIENTIFIC (FINANCE I) B.V. | ||
By: |
|
|
Name: | ||
Title: |
A-2
CERTIFICATE OF AUTHENTICATION
This is one of the [ ]5 issued by Thermo Fisher Scientific (Finance I) B.V. of the series designated therein, referred to in the within-mentioned Indenture.
Date: [ ]
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Trustee |
By: |
Authorized Signatory |
5 |
2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 |
A-3
EFFECTUATED for and on behalf of EUROCLEAR BANK S.A./N.V., as Common Safekeeper, without recourse, warranty or liability.
EUROCLEAR BANK S.A./N.V., as Common Safekeeper | ||
By: |
|
|
Authorized Signatory: | ||
Dated: |
A-4
Thermo Fisher Scientific (Finance I) B.V.
[ ]6
This security is one of a duly authorized series of debt securities of Thermo Fisher Scientific (Finance I) B.V., a private limited liability company (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, with its corporate seat (statutaire zetel) at Breda, the Netherlands, and its registered office at Takkebijsters 1, 4817 BL Breda, the Netherlands, registered with the Dutch Trade Register of the Chamber of Commerce under number 66428319 (the Company), issued or to be issued in one or more series under and pursuant to an Indenture for the Companys unsecured debt securities, dated as of August 9, 2016 (the Base Indenture), duly executed and delivered by and among the Company, Thermo Fisher Scientific Inc., a Delaware corporation (the Guarantor) and The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee), as supplemented by the Third Supplemental Indenture, dated as of October 18, 2021 (the Supplemental Indenture), among the Company, the Guarantor and the Trustee. The Notes are subject to a Paying Agency Agreement, dated as of October 18, 2021 (the Paying Agency Agreement), between the Company and The Bank of New York Mellon, London Branch, as paying agent (the Paying Agent). The Base Indenture as supplemented and amended by the Supplemental Indenture is referred to herein as the Indenture. By the terms of the Base Indenture, the debt securities issuable thereunder are issuable in series that may vary as to amount, date of maturity, rate of interest and in other respects as provided in the Base Indenture. This security is one of the series designated on the face hereof (individually, a Security, and collectively, the Securities), and reference is hereby made to the Indenture for a description of the rights, limitations of rights, obligations, duties and immunities of the Trustee, the Company, the Guarantor and the holders of the Securities (the Securityholders). Capitalized terms used herein and not otherwise defined shall have the meanings given them in the Base Indenture or the Supplemental Indenture, as applicable.
1. Interest. The Company promises to pay interest on the principal amount of this Security at an annual rate of [ ]%7. The Company will pay interest annually in arrears on [ ] of each year (each such day, an Interest Payment Date) until the principal is paid or made available for payment. If any Interest Payment Date, redemption date or maturity date of this Security is not a Business Day, then payment of interest or principal (and premium, if any) shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue for the period after such date to the date of such payment on the next succeeding Business Day. Interest on the Securities will accrue from the most recent date to which interest has been paid or duly made available for payment or, if no interest has been paid, from the date of issuance; provided that, if there is no existing Default in the payment of interest, and if this Security is authenticated between a regular record
6 |
2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 |
7 |
2030 Notes: 0.800%; 2033 Notes: 1.125%; 2041 Notes: 1.625%; and 2051 Notes: 2.000% |
A-5
date referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; and provided, further, that the first Interest Payment Date shall be [ ]. Interest on the Securities shall be computed on the basis of an ACTUAL/ACTUAL (ICMA) (as defined in the rulebook of ICMA) day count convention. In order to provide for all payments due on the Securities as the same shall become due, the Company shall cause to be paid to the Paying Agent, no later than 10:00 a.m. London time on the Business Day prior the payment date of each Security, at such bank as the Paying Agent shall previously have notified to the Company, in immediately available funds sufficient to meet all payments due on such Securities.
2. Method of Payment. The Company will pay interest on the Securities (except defaulted interest), if any, to the persons in whose name such Securities are registered at the close of business on the regular record date referred to on the facing page of this Security for such interest installment. In the event that the Securities or a portion thereof are called for redemption pursuant to Section 1.4A or 1.4B or there is a Change of Control Offer, and the Optional Redemption Date or Change of Control Payment Date, as applicable, is subsequent to a regular record date with respect to any Interest Payment Date and prior to such Interest Payment Date, interest on such Securities shall instead be paid upon presentation and surrender of such Securities as provided in the Indenture. Subject to Section 1.2(13) of the Supplemental Indenture, all payments of principal of, and interest (including Additional Amounts, if any) and premium (if any) on, the Securities shall be payable in euro.
3. Paying Agent and Registrar. Initially, The Bank of New York Mellon, London Branch, shall act as the Paying Agent in accordance with the terms of the Paying Agency Agreement and the Trustee shall act as Security Registrar. Upon prior notice to the Trustee, the Company may change or appoint any Paying Agent or Security Registrar without notice to any Securityholder. The Company, the Guarantor or any of the Guarantors Subsidiaries may act in any such capacity.
4. Indenture. The terms of the Securities include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (TIA), as in effect on the date the Indenture is qualified. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and TIA for a statement of such terms. In the event of a conflict between the terms of the Securities and the terms of the Indenture, the terms of the Indenture shall prevail. The Securities are unsecured general obligations of the Company and constitute the series designated on the face hereof as the [ ]8, initially limited to [ ]9 in aggregate principal amount. The Company shall furnish to any Securityholder upon written request and without charge a copy of the Base Indenture and the Supplemental Indenture. Requests may be made to: Thermo Fisher Scientific Inc., 168 Third Avenue, Waltham, Massachusetts 02451, Attention: Michael A. Boxer.
8 |
2030 Notes: 0.800% Senior Notes due 2030; 2033 Notes: 1.125% Senior Notes due 2033; 2041 Notes: 1.625% Senior Notes due 2041; and 2051 Notes: 2.000% Senior Notes due 2051 |
9 |
2030 Notes: 1,750,000,000; 2033 Notes: 1,500,000,000; 2041 Notes: 1,250,000,000; and 2051 Notes: 750,000,000 |
A-6
5. Redemption. The Securities may be redeemed at the option of the Company prior to the maturity date, as provided in Section 1.4A and 1.4B of the Supplemental Indenture. The Company shall not be required to make sinking fund payments with respect to the Securities.
6. Redemption Upon Changes in Withholding Taxes; Payment of Additional Amounts. The provisions of Sections 15.01 and 15.02 of the Base Indenture and Sections 1.3 and 1.4B of the Supplemental Indenture shall apply to the Securities.
Whenever the payment of the principal of or interest or any other amounts on, or in respect of, the Securities is mentioned, in any context, such mention shall be deemed to include mention of the payment of Additional Amounts to the extent that, in such context, Additional Amounts are, were or would be payable in respect thereof pursuant to the terms of the Indenture, and express mention of the payment of Additional Amounts in any provision of the Securities shall not be construed as excluding the payment of Additional Amounts in those provisions where such express mention is not made.
7. Change of Control Triggering Event. Upon the occurrence of a Change of Control Triggering Event, unless the Company has redeemed this Security or the Company has defeased this Security or satisfied and discharged this Security, the holder of this Security shall have the right to require that the Company purchase all or a portion (such principal amount to be equal to 100,000 or any integral multiple of 1,000 in excess thereof) of this Security at a purchase price equal to 101% of the aggregate principal amount repurchased plus accrued and unpaid interest, if any, on the amount to be repurchased up to but excluding the date of purchase. Within 30 days following any Change of Control Triggering Event, the Company shall send, by first class mail, a notice to each Holder, in accordance with Section 1.5 of the Supplemental Indenture, with a copy to the Trustee, which notice shall govern the terms of the Change of Control Offer.
8. Denominations, Transfer, Exchange. The Securities are in registered form without coupons in the denominations of 100,000 or any integral multiple of 1,000 in excess thereof. The transfer of Securities may be registered and Securities may be exchanged as provided in the Indenture. The Securities may be presented for exchange or for registration of transfer (duly endorsed or with the form of transfer endorsed thereon duly executed if so required by the Company or the Security Registrar) at the office of the Paying Agent or at the office of any transfer agent designated by the Company for such purpose (or otherwise in accordance with the applicable procedures of Euroclear and Clearstream). No service charge shall be made for any registration of transfer or exchange, but a Securityholder may be required to pay any applicable taxes or other governmental charges.
9. Persons Deemed Owners. The registered Securityholder may be treated as its owner for all purposes.
10. Repayment to the Company. Any funds or Governmental Obligations deposited with any paying agent or the Trustee, or then held by the Company, in trust for payment of principal of, premium, if any, or interest on the Securities that are not applied but remain unclaimed by the holders of such Securities for at least one year after the date upon which the principal of, premium, if any, or interest on such Securities shall have respectively become due and payable, shall be repaid to the Company, as applicable, or (if then held by the Company) shall be discharged from such trust. After return to the Company, Holders entitled to the money or securities must look to the Company, as applicable, for payment as unsecured general creditors.
A-7
11. Amendments, Supplements and Waivers. The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the Guarantor and the rights of the Holders of the Securities to be affected under the Indenture at any time by the Company, the Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding to be affected. The Indenture also contains provisions permitting the Holders of a majority in principal amount of the Securities at the time Outstanding, on behalf of the Holders of all Securities, to waive compliance by the Company or the Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.
12. Defaults and Remedies. If an Event of Default with respect to the Securities occurs and is continuing, the Trustee or the holders of at least 25% in aggregate principal amount of the Securities then Outstanding, by notice in writing to the Company (and to the Trustee if notice is given by such holders), may declare the entire principal of, premium, if any, and accrued interest, if any, of such Securities due and payable immediately. Subject to the terms of the Indenture, if an Event of Default under the Indenture shall occur and be continuing, the Trustee shall be under no obligation to exercise any of its rights or powers under the Indenture at the request or direction of any of the holders, unless such holders have offered the Trustee indemnity satisfactory to it. Upon satisfaction of certain conditions set forth in the Indenture, the holders of a majority in principal amount of the Outstanding Securities shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Securities.
13. Trustee, Paying Agent and Security Registrar May Hold Securities. The Trustee, subject to certain limitations imposed by the TIA, or any paying agent or Security Registrar, in its individual or any other capacity, may become the owner or pledgee of Securities with the same rights it would have if it were not Trustee, paying agent or Security Registrar.
14. No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement of the Indenture, or of any Security, or for any claim based thereon or otherwise in respect hereof or thereof, shall be had against any incorporator, stockholder, officer or director, past, present or future as such, of the Company or the Guarantor or of any predecessor or successor corporation, either directly or through the Company or the Guarantor or any such predecessor or successor corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that the Indenture and the obligations issued hereunder and thereunder are solely corporate obligations, and that no such personal liability whatever shall attach to, or is or shall be incurred by, the incorporators, stockholders, officers or directors as such, of the Company or the
A-8
Guarantor or of any predecessor or successor corporation, or any of them, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or in the Securities or implied therefrom; and that any and all such personal liability of every name and nature, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer or director as such, because of the creation of the indebtedness authorized by the Indenture, or under or by reason of the obligations, covenants or agreements contained in the Indenture or in the Securities or implied therefrom, are hereby expressly waived and released as a condition of, and as a consideration for, the acceptance of the Securities.
15. Discharge of Indenture. The Indenture contains certain provisions pertaining to discharge and defeasance, which provisions shall for all purposes have the same effect as if set forth herein.
16. Authentication. This Security shall not be valid until the Trustee signs the certificate of authentication attached to the other side of this Security.
17. Guarantee. This Security is fully and unconditionally guaranteed by the Guarantor, as provided in Article XIV of the Base Indenture.
18. Abbreviations. Customary abbreviations may be used in the name of a Securityholder or an assignee, such as: TEN COM(= tenants in common), TEN ENT (=tenants by the entireties), JT TEN(= joint tenants with right of survivorship and not as tenants in common), CUST (=Custodian), and U/G/M/A(= Uniform Gifts to Minors Act).
19. Governing Law. The Base Indenture, the Supplemental Indenture and this Security shall be deemed to be a contract made under the internal laws of the State of New York, and for all purposes shall be construed in accordance with the laws of said State.
A-9
ASSIGNMENT FORM
To assign this Security, fill in the form below: (I) or (we) assign and transfer this Security to
(Insert assignees soc. sec. or tax I.D. no.)
(Print or type assignees name, address and zip code) |
and irrevocably appoint
agent to transfer this Security on the books of the Company. The agent may substitute another to act for him.
Date:
Your Signature (Sign exactly as your name appears on the face of this Security) |
Signature Guarantee:
A-10
OPTION OF HOLDER TO ELECT PURCHASE
If you want to elect to have this Security purchased by the Company pursuant to Section 1.5 of the Supplemental Indenture, check the box:
☐ 1.5 Change of Control Triggering Event
If you want to elect to have only part of this Security purchased by the Company pursuant to Section 1.5 of the Supplemental Indenture, state the amount:
Date: |
Your Signature (Sign exactly as your name appears on the face of this Security) |
Tax I.D. Number: __________________
Signature Guarantee:
(Signature must be guaranteed by a
participant in a recognized signature
guarantee medallion program)
A-11
NOTATION OF GUARANTEE
For value received, Thermo Fisher Scientific Inc. hereby absolutely, unconditionally and irrevocably guarantees to the holder of this Security the payment of principal of, premium, if any, and interest on, the Security upon which this Guarantee is set forth in the amounts and at the time when due and payable whether by declaration thereof, or otherwise, and interest on the overdue principal and interest, if any, of such Security, if lawful, to the holder of such Security and the Trustee on behalf of the Holders, all in accordance with and subject to the terms and limitations of such Security and Article XIV of the Indenture. This Guarantee will not become effective until the Trustee or Authenticating Agent duly executes the certificate of authentication on this Security and until this Security has been effectuated for and on behalf of the Common Safekeeper. This Guarantee shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of law principles thereof.
Dated: [ ]
THERMO FISHER SCIENTIFIC INC. | ||
By: |
|
|
Name: | ||
Title: |
A-12
Exhibit 5.1
+1 202 663 6060 (t)
+1 202 663 6363 (f)
www.wilmerhale.com
October 18, 2021
Thermo Fisher Scientific Inc.
168 Third Avenue
Waltham, Massachusetts 02451
Re: 0.800% Senior Notes due 2030, 1.125% Senior Notes due 2033, 1.625% Senior Notes due 2041 and 2.000% Senior Notes due 2051
Ladies and Gentlemen:
We have acted as U.S. counsel for Thermo Fisher Scientific (Finance I) B.V. (Thermo Fisher International), a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands and an indirect, wholly-owned finance subsidiary of Thermo Fisher Scientific Inc. (the Company), in connection with the offer and sale by Thermo Fisher International of 1,750,000,000 aggregate principal amount of 0.800% Senior Notes due 2030, 1,500,000,000 aggregate principal amount of 1.125% Senior Notes due 2033, 1,250,000,000 aggregate principal amount of 1.625% Senior Notes due 2041 and 750,000,000 aggregate principal amount of 2.000% Senior Notes due 2051 (collectively, the Notes) pursuant to an underwriting agreement dated October 6, 2021 (the Underwriting Agreement) among Thermo Fisher International, the Company, Barclays Bank PLC, Morgan Stanley Europe SE, BofA Securities Europe SA, Citigroup Global Markets Europe AG and Mizuho Securities Europe GmbH and the several other underwriters named in Schedule A to the Underwriting Agreement. The Notes will be fully and unconditionally guaranteed as to payment of principal, premium, if any, and interest on a senior unsecured basis by the Company (the Guarantee and together with the Notes, the Securities). The Securities will be issued pursuant to an indenture dated as of August 9, 2016 (the Base Indenture) among Thermo Fisher International, the Company, as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee (the Trustee), as supplemented by the Third Supplemental Indenture of even date herewith (the Supplemental Indenture and together with the Base Indenture, the Indenture) among Thermo Fisher International, the Company, as guarantor, and the Trustee, and will be subject to the Paying Agency Agreement (the Paying Agency Agreement), dated as of October 18, 2021, between Thermo Fisher International and The Bank of New York Mellon, London Branch, as paying agent.
Thermo Fisher Scientific Inc.
October 18, 2021
Page 2
As such counsel, we have assisted in the preparation and filing with the Securities and Exchange Commission (the Commission) of the Registration Statement on Form S-3 (File No. 333-229951) under the Securities Act of 1933, as amended (the Securities Act), on February 28, 2019 (the Registration Statement), including the prospectus dated February 28, 2019 (the Base Prospectus), as supplemented by the preliminary prospectus supplement dated October 4, 2021 (the Preliminary Prospectus Supplement), and the prospectus supplement dated October 6, 2021 (the Prospectus Supplement).
We have examined and relied upon corporate or other proceedings of the Company regarding the authorization, execution and delivery of the Indenture, the Underwriting Agreement and the issuance of the Securities, the Paying Agency Agreement, the Registration Statement, the Base Prospectus, the Preliminary Prospectus Supplement and the Prospectus Supplement. We have also examined and relied upon originals or copies, certified or otherwise identified to our satisfaction, of such other corporate records of the Company, such other agreements and instruments, certificates of public officials, officers of the Company and other persons, and such other documents, instruments and certificates as we have deemed necessary as a basis for the opinions hereinafter expressed.
In our examination of the documents referred to above, we have assumed the genuineness of all signatures, the legal capacity of all signatories, the authenticity and completeness of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as copies, the authenticity of such original documents, and the completeness and accuracy of the corporate minute books of the Company.
We are expressing no opinion herein as to the application of any federal or state law or regulation to the power, authority or competence of any party to any agreement with respect to any of the Securities other than the Company. We have assumed that such agreements are the valid and binding obligations of each party thereto other than the Company, and enforceable against each such other party in accordance with their respective terms.
In rendering the opinions set forth below, we have relied as to certain matters on information obtained from public officials and officers of the Company, and we have assumed (i) the due execution and delivery, pursuant to due authorization, of the Indenture by the Trustee; (ii) that the Trustee has the power, corporate or other, to enter into and perform its obligations under the Indenture; (iii) that the Indenture will be a valid and binding obligation of the Trustee; (iv) that the Trustee shall have been qualified under the Trust Indenture Act of 1939, as amended and (v) the accuracy of the opinion letter of Linklaters LLP, dated as of the date hereof and addressed to Thermo Fisher International. We have also assumed the due authentication of the Notes by the Trustee.
We have assumed for purposes of our opinions below that no authorization, approval or other action by, and no notice to or filing with, any governmental authority or regulatory body or any other third party is required for the due execution, delivery or performance by Thermo Fisher International of the Indenture or the Securities or, if any such authorization, approval, consent, action, notice or filing is required, it will have been duly obtained, taken, given or made and will be in full force and effect.
Thermo Fisher Scientific Inc.
October 18, 2021
Page 3
Our opinions below are qualified to the extent that they may be subject to or affected by (i) applicable bankruptcy, insolvency, reorganization, moratorium, usury, fraudulent conveyance or similar laws relating to or affecting the rights or remedies of creditors generally, (ii) duties and standards imposed on creditors and parties to contracts, including, without limitation, requirements of materiality, good faith, reasonableness and fair dealing, (iii) general equitable principles, and (iv) acceleration of the Securities which may affect the collectability of that portion of the stated principal amount thereof that might be determined to constitute unearned interest thereon. Furthermore, we express no opinion as to the availability of any equitable or specific remedy upon any breach of the Indenture or the Securities, or to the successful assertion of any equitable defenses, inasmuch as the availability of such remedies or the success of any equitable defenses may be subject to the discretion of a court. We also express no opinion herein as to the laws of any state or jurisdiction other than the state laws of the State of New York and the General Corporation Law of the State of Delaware. We also express no opinion herein with respect to compliance by the Company or Thermo Fisher International with securities or blue sky laws of any state or other jurisdiction of the United States or of any foreign jurisdiction. We express no opinion and make no statement herein with respect to the antifraud laws of any jurisdiction. We have not acted as counsel for Thermo Fisher International with respect to matters of Dutch law or other applicable foreign law.
We also express no opinion herein as to any provision of any agreement (i) that may be deemed to or construed to waive any right of the Company or Thermo Fisher International; (ii) to the effect that rights and remedies are not exclusive, that every right or remedy is cumulative and may be exercised in addition to or with any other right or remedy and does not preclude recourse to one or more other rights or remedies; (iii) relating to the effect of invalidity or unenforceability of any provision of any agreement on the validity or enforceability of any other provision thereof; (iv) that is in violation of public policy; (v) relating to indemnification and contribution with respect to securities law matters; (vi) that provides that the terms of any agreement may not be waived or modified except in writing; (vii) purporting to indemnify any person against his, her or its own negligence or intentional misconduct; (viii) requiring the payment of penalties, consequential damages or liquidated damages or (ix) relating to choice of law or consent to jurisdiction.
On the basis of, and subject to, the foregoing, we are of the opinion that when the Securities have been duly executed by the Company and Thermo Fisher International, and the Notes have been duly authenticated by the Trustee in accordance with the terms of the Indenture and delivered to the purchasers thereof against payment of the consideration therefor duly approved by the Company, the Notes will constitute valid and binding obligations of Thermo Fisher International, enforceable against Thermo Fisher International in accordance with their terms, and the Guarantee will constitute a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms. Please note that we are opining
Thermo Fisher Scientific Inc.
October 18, 2021
Page 4
only as to the matters expressly set forth herein, and no opinion should be inferred as to any other matters. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of law or subsequent legal or factual developments that might affect any matters or opinions set forth herein.
Please note that we are opining only as to the matters expressly set forth herein, and no opinion should be inferred as to any other matters. This opinion is based upon currently existing statutes, rules, regulations and judicial decisions, and we disclaim any obligation to advise you of any change in any of these sources of law or subsequent legal or factual developments that might affect any matters or opinions set forth herein.
We hereby consent to the filing of this opinion with the Commission as an exhibit to the Companys Current Report on Form 8-K to be filed on the date hereof, which Form 8-K will be incorporated by reference into the Registration Statement in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act and to the use of our name therein and in the related Prospectus and in any prospectus supplement under the caption Legal Matters. In giving such consent, we do not hereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission.
Thermo Fisher Scientific Inc.
October 18, 2021
Page 5
Very truly yours, |
/s/ WILMER CUTLER PICKERING HALE AND DORR LLP |
Exhibit 5.2
Linklaters LLP World Trade Centre Amsterdam Zuidplein 180 1077 XV Amsterdam Telephone (31 20) 799 6200 Facsimile (31 20) 799 6300 |
Thermo Fisher Scientific (Finance I) B.V. Takkebijsters 1 4817 BL Breda The Netherlands |
18 October 2021 |
Dear Sirs
Thermo Fisher Scientific (Finance I) B.V. (the Company) 1,750,000,000 0.800% Senior Notes due 2030, 1,500,000,000 1.125% Senior Notes due 2033, 1,250,000,000 1.625% Senior Notes due 2041 and 750,000,000 2.000% Senior Notes due 2051 (collectively, the Securities) guaranteed by Thermo Fisher Scientific Inc.
1 |
We have acted as your Dutch legal advisers in connection with the Form S-3 registration statement filed with the United States Securities and Exchange Commission on 28 February 2019 (the Registration Statement) relating to the registration (the Registration) under the United States Securities Act of 1933 (as amended) (the Securities Act) of, inter alia, debt securities of the Company, and the issuance by the Company of the Securities, which are stated to be irrevocably and unconditionally guaranteed as to payment of principal, premium, if any, and interest by Thermo Fisher Scientific Inc. (the Guarantor), a Delaware corporation. The Securities are being issued pursuant to the Indenture (as defined in the Schedule to this letter). We have taken instructions solely from the Company. |
2 |
This opinion is limited to Dutch law as applied by the Dutch courts and published in print and in effect on the date of this opinion, excluding tax law, the laws of the European Union (insofar as not implemented or incorporated in Dutch law) and market abuse, competition and procurement laws. This opinion is given on the basis that we undertake no responsibility to notify any addressee of this opinion of any change in Dutch law after the date of this opinion. It is given in accordance with customary Dutch legal practice and on the basis that it and all matters relating to it will be governed by and construed in accordance with Dutch law. In this opinion, Dutch legal concepts are expressed in English terms and not in their original Dutch terms. The Dutch concepts concerned may not be identical to the concepts described by the English terms as they may exist or be interpreted under the laws of jurisdictions other than the Netherlands. |
3 |
For the purpose of this opinion we have examined the documents listed and, where appropriate, defined (together with certain other terms used herein) in the Schedule to this letter. Our examination has been limited to the text of the documents. In addition we have obtained the following confirmations given by telephone or otherwise on the date of this opinion: |
3.1 |
Confirmation from the Chamber of Commerce that the Trade Register Extract is up to date in all respects material for this opinion. |
3.2 |
Confirmation from the insolvency office (afdeling insolventie) of the competent court in Breda (Rechtbank Zeeland-West-Brabant) and the central insolvency register (centraal insolventieregister) that the Company is not registered as having been declared bankrupt (failliet verklaard) or granted suspension of payments (surseance verleend) or preparing a public pre-insolvency scheme (openbare akkoordprocedure). |
4 |
We have assumed the following: |
4.1 |
All copy documents conform to the originals and all originals are genuine and complete. |
4.2 |
Each signature is the genuine signature of the individual concerned and, if an electronic signature (elektronische handtekening), it was placed by the person whose electronic signature it purports to be or upon such persons instruction. |
4.3 |
All documents were at their date, and have through the date hereof remained, accurate, complete and in full force and effect without modification, and have been or will have been executed in the same form as examined by us for the purposes of this opinion and, in the case of the Securities, authenticated, effectuated (where required), issued, accepted and paid for in compliance with the Indenture. All confirmations referred to in paragraph 3 are true. |
4.4 |
The Company has not (i) had its assets placed under administration (onder bewind gesteld), (ii) been dissolved (ontbonden), merged (gefuseerd) or split up (gesplitst), (iii) been subjected to any prevention, intervention and resolution measure or any recovery or resolution tool, power, action or other measure or proceeding however described under or pursuant to the Dutch Financial Supervision Act (Wet op het financieel toezicht) or applicable European regulation (including without limitation Directive 2014/59/EU of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions (the Bank Recovery and Resolution Directive) or Regulation (EU) No. 806/2014 (the Single Resolution Mechanism Regulation)) (collectively, Measures) or (iv) registered itself as preparing for a pre-insolvency scheme (akkoord) or been subjected to any one of the insolvency and winding-up proceedings listed in Annex A to Regulation (EU) 2015/848 on insolvency proceedings (recast) or to the appointment of a restructuring expert (herstructureringsdeskundige) (Insolvency Proceedings, including, inter alia, bankruptcy (faillissement)). |
4.5 |
The entry into and performance of the Indenture and the transactions contemplated thereby, including the issuance of the Securities, are conducive to the corporate objects and in the interest of the Company. |
4.6 |
The written resolutions referred to in the Schedule have been validly passed, and any conditions and limitations contained therein have been or will have been complied with. |
4.7 |
No advice is required from any works council under the Works Councils Act (Wet op de ondernemingsraden) in connection with the Registration, the Companys entry into and performance of the Indenture and issue and performance of the Securities. |
4.8 |
Any powers of attorney, the Securities and the Indenture have been or will have been signed on behalf of the Company by a member of its management board in office at the time of signing or, in the case of the Indenture, by a person or persons duly authorised to do so under a valid power of attorney, if in facsimile with the approval of the signatory. |
4.9 |
No member of the Companys management board has a conflict of interest (tegenstrijdig belang) with respect to the Registration, the Securities or the Indenture (or the transactions contemplated thereby). |
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4.10 |
All documents and their entry into and performance are within the capacity and powers (corporate and otherwise) of, and have been or will have been validly authorised, entered into, accepted and duly performed by, each party thereto other than the Company. |
4.11 |
All documents (including the Securities), including any governing law and submission to jurisdiction provisions contained therein, are valid, binding and enforceable on each party (including the Company) under the law to which they are expressed to be subject where that is not Dutch law, and under any applicable law other than Dutch law. Words and phrases used in those documents have the same meaning and effect as they would if those documents were governed by Dutch law. The Securities are not in bearer form but in registered form. |
4.12 |
Insofar as any obligation of the Company under the Indenture or the Securities falls to be performed in, or is otherwise affected by the laws of, any jurisdiction other than the Netherlands, its performance would not be illegal or ineffective under the laws of that jurisdiction. |
4.13 |
There are no provisions of any law, other than Dutch law, which may apply to the Securities or the Indenture (or the transactions contemplated thereby) or to any power of attorney issued by the Company, which would affect this opinion. |
4.14 |
The Securities will not be admitted to trading on a regulated market in the Netherlands and, if offered in the Netherlands, will be offered solely to qualified investors (gekwalificeerde beleggers) within the meaning of Section 1:1 of the Financial Supervision Act (Wet op het financieel toezicht). The Securities have individual denominations of at least 100,000 (or its foreign currency equivalent). |
4.15 |
No Securities will be issued beyond the maximum amount as may be authorised by the management board of the Company and approved by its general meeting if required. |
4.16 |
The Company does not and will not come to qualify as a bank within the meaning of the Financial Supervision Act, or if it does, it complies and will continue to comply with the conditions for one of the exemptions contained in the Financial Supervision Act from the requirement to be authorised or licensed. |
5 |
In our opinion: |
5.1 |
The Company has been incorporated and is existing as a limited liability company (besloten vennootschap met beperkte aansprakelijkheid) under Dutch law. |
5.2 |
The Company has the corporate power to enter into and perform the Indenture and to issue and perform the Securities. |
5.3 |
The Company has taken all necessary corporate action to authorise its entry into and performance of the Indenture and issuance and performance of the Securities. |
5.4 |
When signed on behalf of the Company as set out in paragraph 4.8, the Indenture and the Securities will have been validly signed by the Company. |
5.5 |
The entry into and performance of the Indenture and the issue and performance of the Securities by the Company does not violate Dutch law or its articles of association. |
5.6 |
Under Dutch law and in accordance with and subject to Regulation (EC) No 593/2008 on the law applicable to contractual obligations (the Rome I Regulation), the choice of New York law as the governing law of the Indenture and the Securities is recognised as a valid choice of law and accordingly New York law governs the validity, binding effect and enforceability of the Indenture and the Securities against the Company. |
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6 |
This opinion is subject to any matters not disclosed to us and to the following qualifications: |
6.1 |
The terms enforceability or enforced as used above (including the term binding effect in relation to proceedings in a Dutch court to enforce a judgment rendered by a New York court or otherwise), or any other reference by whatever term to enforcement, mean that the obligations assumed by the relevant party under the relevant document are of a type which the Dutch courts enforce. It does not mean that those obligations (or such judgment) will necessarily be enforced in all circumstances in accordance with their (or its) terms. We do not express any opinion as to whether specific performance or injunctive relief would be available. |
6.2 |
This opinion is limited by, and therefore we do not express any opinion or statement as to the consequences of, any Insolvency Proceeding, Measure, resolution insolvency, liquidation (ontbinding en vereffening), reorganisation, fraudulent conveyance (Actio Pauliana) and other laws relating to or affecting the rights of creditors (including, for the time being, measures to protect debtors affected by COVID-19), and any sanctions and measures implemented or effective in the Netherlands under the Sanctions Act 1977 (Sanctiewet 1977) or European Union regulations or otherwise by international sanctions. |
6.3 |
Under Dutch law, a power of attorney does not preclude the principal from performing the legal acts covered by the power of attorney and can be made irrevocable only insofar as it is granted for the purpose of performing a legal act in the interest of the attorney or a third party and subject to any amendments made or limitations imposed by the court on serious grounds (gewichtige redenen). Each power of attorney (volmacht) or mandate (lastgeving), whether or not irrevocable, granted by a company, will terminate by force of law and without notice, upon bankruptcy of the company or the death of or termination by the attorney or the attorney being placed under guardianship or the attorney being disqualified as a director of the company, and will cease to have effect upon the company having been granted a suspension of payments or subjected to Measures. This qualification would also apply to the extent that the appointment of a process agent or other agent were to be deemed to constitute a power of attorney or a mandate. |
6.4 |
If a facsimile signature is used for the Securities, each signatory should consent to such use of his signature and evidence of such consent may be required for the enforcement of the Securities in the Netherlands. If a Security is signed on behalf of the Company (manually, electronically or in facsimile) by a person who is a duly authorised representative of the Company on signing but no longer on the actual issue date of the Security, enforcement of the Security in the Netherlands may require that the holder thereof presents both the Security and evidence of the agreement of the Company to also be bound in such circumstances and evidence of the consent of the signatory. |
6.5 |
A provision in an agreement requiring, forbidding or restricting a company to take any action that falls within the powers of its general meeting, or similar corporate body, may not be enforceable. |
6.6 |
We do not express any opinion as to any deemed action or absence thereof. |
6.7 |
To the extent Dutch law applies, an indemnity will not be enforceable if the damage, loss, cost, liability or expense against which a person or legal entity is indemnified is a result of wilful misconduct or gross negligence of such person or entity or if such person or entity did not act in good faith. |
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6.8 |
Dutch law does not know the concept of trust as this is known under common law, nor the concept of suspense account, and we do not express any opinion in respect thereof. Any provision pursuant to which moneys or goods are to be held in trust by one party for another party or are to be segregated from the other assets of the party concerned (or provisions having a similar intended effect) may not be enforceable in the Netherlands. |
6.9 |
To the extent Dutch law applies, any provision to the effect that no holder of a Security or any Coupon (as defined therein) shall have any right to institute any action or proceeding, judicial or otherwise, with respect to the Securities or the Indenture, or for the appointment of a receiver or trustee, or for any remedy thereunder, may not be enforceable in all circumstances. |
6.10 |
To the extent Dutch law applies, any provision to the effect that in any proceedings initiated by the Trustee, the Trustee shall be held to represent all holders of the Securities to which such proceedings relate, and that it shall not be necessary to make any holders of Securities party to such proceedings, may not be enforceable in all circumstances |
6.11 |
The enforcement in the Netherlands of the Indenture, the Securities and foreign judgments will be subject to Dutch rules of civil procedure. A Dutch court may mitigate amounts due in respect of litigation and collection costs. |
6.12 |
A Dutch court may decline jurisdiction if concurrent proceedings are being brought elsewhere. We express no opinion on competing judgments resulting from any concurrent proceedings. |
6.13 |
Claims may become barred by limitation periods or may be or become subject to set-off or counterclaim. |
6.14 |
The admissibility of a choice of jurisdiction (such as for courts in the United States) and the procedural consequences of such choice are determined by the laws of the chosen jurisdiction. |
6.15 |
In proceedings before a court of the Netherlands the service of process against the Company other than by personal delivery by a bailiff of the courts of the Netherlands (gerechtsdeurwaarder) and in accordance with the applicable treaties will not be considered by the court to constitute valid service of process, notwithstanding any provision to the contrary in the Indenture or the Securities. |
6.16 |
To the extent that Dutch law applies to the transfer of title to a Security, this requires delivery (levering) pursuant to a valid agreement (geldige titel) by a transferor who has power to pass on title to that Security (beschikkingsbevoegdheid). |
6.17 |
To the extent that Dutch law is applicable to the Securities or any transfer thereof, any provision to the effect that the (registered) holder of a Security may be treated as the absolute owner thereof or solely entitled thereto may not be enforceable in all circumstances. |
6.18 |
We do not express any opinion as to any co-ownership interest in, or transfer of, any Security. |
6.19 |
To the extent that any provisions of the Securities or the Indenture are general conditions (algemene voorwaarden) within the meaning of Section 6:231 of the Dutch Civil Code, a holder of Securities may nullify (vernietigen) a provision therein if (i) the Company has not offered the holder of Securities a reasonable opportunity to examine the terms and conditions of the Security or the Indenture or (ii) the provision, having regard to all relevant circumstances, is unreasonably onerous (onredelijk bezwarend) to the holder of Securities. |
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6.20 |
To the extent Dutch law applies: |
6.20.1 |
a Security will only be validly issued, and will only be valid, binding and enforceable against the Company, after that Security has been issued to and accepted and paid for by a person other than the Company; |
6.20.2 |
as to the acquisition of Securities by their issuer, Securities will be cancelled by operation of law. |
6.21 |
We do not express any opinion as to the authority of any of the parties other than the Company to perform the provisions of the Indenture applicable to it. |
6.22 |
It should be understood that we have not been responsible for investigating or verifying the accuracy of the facts or the reasonableness of any statements of belief or opinion contained in the Prospectus Supplement or the Registration Statement (including the prospectus contained therein), or that no material facts have been omitted from it. |
6.23 |
The Trade Register Extract and the confirmations referred to in paragraph 3 do not provide conclusive evidence that the information set out in the Trade Register Extract is correct or that the Company has not become the subject of an Insolvency Proceeding or Measure. |
6.24 |
We do not express any opinion as to facts. |
7 |
This opinion is addressed to you solely for your benefit in connection with the filing of the Prospectus Supplement. It is not to be transmitted to anyone else or for any other purpose or quoted or referred to in any public document or filed with anyone without our prior written consent. We hereby consent to the filing of this opinion as an exhibit to the Prospectus Supplement and to the reference to us made in the Prospectus Supplement. In giving this consent we do not admit that we are within the category of persons whose consent is required within Section 7 of the Securities Act or the rules and regulations of the United States Securities and Exchange Commission thereunder. |
Yours faithfully
/s/ Linklaters LLP
Linklaters LLP
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Schedule
1 |
An electronic certified copy of an extract from the trade register (the Trade Register Extract) obtained from the chamber of commerce (the Chamber of Commerce) regarding the Company dated 15 October 2021. |
2 |
A faxed copy of a notarial copy of the Companys deed of incorporation dated 6 July 2016 including its articles of association, as obtained from and according to the Chamber of Commerce. |
3 |
A print-out of an electronic copy of a written resolution of the management board of the Company dated 4 October 2021 and of a written resolution of Quebec Court B.V. in its stated capacity as the Companys sole shareholder dated 4 October 2021, in each case confirming certain matters with respect to the Registration and the issuance by the Company of the Securities. |
4 |
A print-out of an electronic copy of the Registration Statement (excluding any documents incorporated by reference in it and any exhibits to it). |
5 |
A print-out of an electronic copy of the prospectus supplement dated 6 October 2021 (the Prospectus Supplement) in relation to the Securities (excluding the documents incorporated by reference therein or any exhibits thereto). |
6 |
A print-out of an electronic copy of an executed base indenture relating to the Securities dated 9 August 2016 between the Company as issuer, Thermo Fisher Scientific Inc. as guarantor and The Bank of New York Mellon Trust Company, N.A., as trustee, and of an executed third supplemental indenture dated 18 October 2021 between the same parties, providing for the specific terms of the Securities (together, the Indenture). |
References to documents are to any and all documents mentioned in this Schedule including the Securities, unless the context requires otherwise.
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