EXHIBIT 4.15
[FORM OF UNIVERSAL WARRANT AGREEMENT]
CREDIT SUISSE FIRST BOSTON (USA), INC.
as the Company
and
-------------------------
as the Warrant Agent
UNIVERSAL WARRANT AGREEMENT
dated as of ____________
Warrants to Purchase ____________
TABLE OF CONTENTS
PAGE
ARTICLE 1
UNIVERSAL WARRANTS
Section 1.01. Ranking.........................................................1
Section 1.02. Form, Execution and Delivery of Warrant Certificates............1
Section 1.03. Number Unlimited; Issuable in Series............................3
Section 1.04. Countersignature and Delivery of Warrant Certificates...........4
Section 1.05. Place of Exercise; Registration of Transfers and Exchanges......7
Section 1.06. Mutilated or Missing Warrant Certificates......................10
Section 1.07. Registered Holders.............................................11
Section 1.08. Cancellation...................................................12
Section 1.09. Additional Warrant Agents......................................12
Section 1.10. Appointment of Calculation Agents..............................12
ARTICLE 2
DURATION AND EXERCISE OF UNIVERSAL WARRANTS
Section 2.01. Duration and Exercise of Universal Warrants....................13
Section 2.02. Return of Money Held Unclaimed for Two Years...................13
ARTICLE 3
OTHER PROVISIONS RELATING TO
RIGHTS OF WARRANTHOLDERS
Section 3.01. Warrantholder May Enforce Rights...............................13
Section 3.02. No Rights as Holder of Warrant Property Conferred by
Universal Warrants or Warrant Certificates.....................13
Section 3.03. Merger, Consolidation, Conveyance or Transfer..................14
ARTICLE 4
UNIVERSAL WARRANTS ACQUIRED BY THE COMPANY; PAYMENT OF TAXES
Section 4.01. Universal Warrants Acquired by the Company.....................14
Section 4.02. Payment of Taxes...............................................15
ARTICLE 5
CONCERNING THE WARRANT AGENT
Section 5.01. Warrant Agent..................................................15
Section 5.02. Condition of Warrant Agent's Obligations.......................15
Section 5.03. Resignation and Appointment of Successor.......................16
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TABLE OF CONTENTS
(continued)
PAGE
ARTICLE 6
MISCELLANEOUS
Section 6.01. Amendment......................................................18
Section 6.02. Notices and Demands to the Company and the Warrant Agent.......19
Section 6.03. Addresses for Notices..........................................20
Section 6.04. Notices to Warrantholders......................................20
Section 6.05. Obtaining of Approvals.........................................20
Section 6.06. Persons Having Rights under this Agreement.....................20
Section 6.07. Inspection of Agreement........................................20
Section 6.08. Officer's Certificates and Opinions of Counsel;
Statements to be Contained Therein.............................21
Section 6.09. Payments Due on Saturdays, Sundays and Holidays................21
Section 6.10. Judgment Currency..............................................22
Section 6.11. Headings.......................................................22
Section 6.12. Counterparts...................................................22
Section 6.13. Applicable Law.................................................22
Exhibit A: Form of Registered Call Warrant Certificate......................A-1
Exhibit B: Form of Registered Put Warrant Certificate.......................B-1
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WARRANT AGREEMENT
THIS AGREEMENT, dated as of ___________, ____, between Credit Suisse
First Boston (USA), Inc., a corporation organized and existing under the laws of
the State of Delaware (the "Company"), and _____________, a [bank] [trust
company] duly incorporated and existing under the laws of __________________, as
Warrant Agent (the "Warrant Agent"),
WHEREAS, the Company has duly authorized the issue from time to time
of warrants (the "Universal Warrants") to purchase or sell (i) securities of an
entity unaffiliated with the Company, a basket of such securities, an index or
indices of such securities or any combination of the above, (ii) currencies or
composite currencies, or (iii) commodities (the property described in clauses
(i), (ii) and (iii), in relation to a Universal Warrant, being hereinafter
referred to as the "Warrant Property" applicable to such Universal Warrant) to
be issued in one or more series and in such number and with such terms as may
from time to time be authorized in accordance with the terms of this Agreement;
WHEREAS, the Company has duly authorized the execution and delivery
of this Agreement to provide, among other things, for the delivery and
administration of the Universal Warrants; and
WHEREAS, all things necessary to make this Agreement a valid
agreement according to its terms have been done;
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE 1
UNIVERSAL WARRANTS
Section 1.01. RANKING. The Universal Warrants are unsecured
contractual obligations of the Company and will rank pari passu with the
Company's other unsecured contractual obligations and with the Company's
unsecured and unsubordinated debt.
Section 1.02. FORM, EXECUTION AND DELIVERY OF WARRANT CERTIFICATES.
(a) Certificates ("Warrant Certificates") evidencing the Universal Warrants of
each series shall be substantially in the form of Exhibits I and II hereto or in
such form (not inconsistent with this Agreement) as shall be established by or
pursuant to one or more Board Resolutions (as defined below) (as set forth in a
Board Resolution or, to the extent established pursuant to, rather than set
forth in, a Board Resolution, in an Officer's Certificate (as defined below)
detailing such establishment) or in one or more agreements supplemental hereto,
in each case with such appropriate insertions, omissions, substitutions and
other variations as are required or permitted by this Agreement. The Warrant
Certificates may have imprinted or otherwise reproduced thereon such letters,
numbers or other marks of identification or designation and such legends or
endorsements as the officers of the Company executing the same may approve
(execution thereof to be conclusive evidence of such approval) and that are not
inconsistent with the provisions of this Agreement, or as may be required to
comply with any law or with any rule or regulation made pursuant thereto, or
with any rule or regulation of any self-regulatory organization (an "SRO") on
which the Universal Warrants of such series may be listed, or of any securities
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depository, or to conform to usage. The chairman of the board of directors, the
chief executive officer, the president, the chief financial officer, the chief
administrative officer, the chief accounting officer or any Managing Director
and the treasurer or any assistant treasurer or the secretary or any assistant
secretary shall execute the Warrant Certificates for the Company by facsimile or
manual signature in the name and on behalf of the Company. The seal of the
Company, if any, shall be reproduced on the Warrant Certificates. If an officer
whose signature is on a Warrant Certificate no longer holds that office at the
time the Warrant Certificate is authenticated, the Warrant Certificate shall
nevertheless be valid.
"Board Resolution" means a copy of one or more resolutions,
certified by the secretary or an assistant secretary of the Company to have been
duly adopted or consented to by the Board of Directors and to be in full force
and effect, and delivered to the Warrant Agent.
"Board of Directors" means either the Board of Directors of the
Company or any committee of such Board duly authorized to act on its behalf for
the purposes of this Agreement.
"Officer's Certificate" means a certificate signed in the name of
the Company (i) by the chairman of the Board of Directors, the chief executive
officer, the president, the chief financial officer, the chief administrative
officer, the chief accounting officer or any Managing Director and (ii) by the
treasurer or any assistant treasurer, or the secretary or any assistant
secretary or such other person authorized by the Board of Directors to execute
any such certificate and deliver it to the Warrant Agent.
(b) In case any officer of the Company who shall have signed a Warrant
Certificate, either manually or by facsimile signature, shall cease to be such
officer before such Warrant Certificate shall have been countersigned and
delivered by the Warrant Agent to the Company or delivered by the Company, such
Warrant Certificate nevertheless may be countersigned and delivered as though
the person who signed such Warrant Certificate had not ceased to be such officer
of the Company; and a Warrant Certificate may be signed on behalf of the Company
by any person who, at the actual date of the execution of such Warrant
Certificate, shall be a proper officer of the Company to sign such Warrant
Certificate, although at the date of the execution of this Warrant Agreement any
such person was not such officer.
(c) Pending the preparation of final Warrant Certificates evidencing
Universal Warrants of any series, the Company may execute and the Warrant Agent
shall countersign and deliver temporary Warrant Certificates evidencing such
Universal Warrants (printed, lithographed, typewritten or otherwise produced, in
each case in form satisfactory to the Warrant Agent). Such temporary Warrant
Certificates shall be issuable substantially in the form of the final Warrant
Certificates but with such omissions, insertions and variations as may be
appropriate for temporary Warrant Certificates, all as may be determined by the
Company with the concurrence of the Warrant Agent. Such temporary Warrant
Certificates may contain such reference to any provisions of this Warrant
Agreement as may be appropriate. Every such temporary Warrant Certificate shall
be executed by the Company and shall be countersigned by the Warrant Agent upon
the same conditions and in substantially the same manner, and with like effect,
as the final Warrant Certificates. Without unreasonable delay, the Company shall
execute and shall furnish final Warrant Certificates and thereupon such
temporary Warrant Certificates may be surrendered in exchange therefor without
charge, and the Warrant Agent shall
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countersign and deliver in exchange for such temporary Warrant Certificates
final Warrant Certificates evidencing a like aggregate number of Universal
Warrants of the same series and of like tenor as those evidenced by such
temporary Warrant Certificates. Until so exchanged, such temporary Warrant
Certificates and the Universal Warrants evidenced thereby shall be entitled to
the same benefits under this Warrant Agreement as final Warrant Certificates and
the Universal Warrants evidenced thereby.
Section 1.03. NUMBER UNLIMITED; ISSUABLE IN SERIES. (a) The
aggregate number of Universal Warrants that may be delivered under this
Agreement is unlimited.
(b) The Universal Warrants may be issued in one or more series. There
shall be established in or pursuant to one or more Board Resolutions (and to the
extent established pursuant to, rather than set forth in, a Board Resolution, in
an Officer's Certificate detailing such establishment) or established in one or
more agreements supplemental hereto, prior to the initial issuance of Universal
Warrants of any series:
(i) the designation of the Universal Warrants of the series, which
shall distinguish the Universal Warrants of the series from the Universal
Warrants of all other series;
(ii) any limit upon the aggregate number of the Universal Warrants
of the series that may be countersigned and delivered under this Agreement
(except for Universal Warrants countersigned and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other
Universal Warrants of the series);
(iii) the specific Warrant Property purchasable or salable upon
exercise of the Universal Warrants of the series, and the amount thereof
(or the method for determining the same);
(iv) the price at which the Universal Warrants of the series will be
issued and, if other than U.S. dollars, the coin or currency or composite
currency in which such issue price will be payable;
(v) whether the Universal Warrants of the series are warrants to
purchase ("call warrants") or warrants to sell ("put warrants") the
Warrant Property;
(vi) the price at which and, if other than U.S. Dollars, the coin or
currency or composite currency with which the Warrant Property may be
purchased or sold upon exercise of the Universal Warrants of the series
(or the method for determining the same);
(vii) whether the exercise price for the Universal Warrants of the
series may be paid in cash or by the exchange of any other security of the
Company, or both, or otherwise, and the method of exercise of the
Universal Warrants of the series;
(viii) whether the exercise of the Universal Warrants of the series
is to be settled in cash or by delivery of the Warrant Property or both,
or otherwise;
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(ix) the date on which the right to exercise the Universal Warrants
of the series shall commence and the date (the "Expiration Date") on which
such right shall expire or, if the Universal Warrants of the series are
not continuously exercisable throughout such period, the specific date or
dates on which they will be exercisable;
(x) whether the Warrant Certificates representing the Universal
Warrants of the series will be in registered form ("Registered Warrants")
or bearer form ("Bearer Warrants") or both;
(xi) whether the Warrant Certificates evidencing any Registered
Warrants or Bearer Warrants of the series will be issued in global form
("Global Warrant Certificates") or definitive form ("Definitive Warrant
Certificates") or both, and whether and on what terms (if different from
those set forth herein) Warrant Certificates in one form may be converted
into or exchanged for Warrant Certificates in the other form;
(xii) any warrant agents, depositaries, authenticating or paying
agents, transfer agents or registrars or any determination or calculation
agents or other agents with respect to Universal Warrants of the series;
and
(xiii)any other terms of the Universal Warrants of the series (which
terms shall not be inconsistent with the provisions of this Agreement).
(c) All Universal Warrants of any one series shall be substantially
identical, except as may otherwise be provided by or pursuant to the Board
Resolution or Officer's Certificate referred to above or as set forth in any
such agreement supplemental hereto. All Universal Warrants of any one series
need not be issued at the same time and may be issued from time to time,
consistent with the terms of this Agreement, if so provided by or pursuant to
such Board Resolution, such Officer's Certificate or in any such agreement
supplemental hereto.
Section 1.04. COUNTERSIGNATURE AND DELIVERY OF WARRANT CERTIFICATES.
(a) The Company may deliver Warrant Certificates evidencing Universal Warrants
of any series executed by the Company to the Warrant Agent for countersignature
together with the applicable documents referred to below in this Section, and
the Warrant Agent shall thereupon countersign and deliver such Warrant
Certificates to or upon the order of the Company (contained in the Issuer Order
(as defined below) referred to below in this Section) or pursuant to such
procedures acceptable to the Warrant Agent as may be specified from time to time
by an Issuer Order. Any terms of the Universal Warrants evidenced by such
Warrant Certificates may be determined by or pursuant to such Issuer Order or
such other procedures. If provided for in such procedures, such Issuer Order may
authorize countersignature and delivery pursuant to oral instructions from the
Company or its duly authorized agent, which instructions shall be promptly
confirmed in writing. In countersigning such Warrant Certificates and accepting
the responsibilities under this Agreement in relation to the Universal Warrants
evidenced by such Warrant Certificates, the Warrant Agent shall be entitled to
receive (in the case of subparagraphs 1.04(a)(ii), 1.04(a)(iii) and 1.04(a)(iv)
below only at or before the time of the first request of the Company to the
Warrant Agent to countersign Warrant Certificates in a particular form
evidencing Universal Warrants) and shall be fully protected in relying upon,
unless and until such documents have been superseded or revoked:
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(i) an Issuer Order requesting such countersignature and setting forth
delivery instructions if the Warrant Certificates are not to be delivered to the
Company;
(ii) any Board Resolution, Officer's Certificate and/or executed
supplemental agreement pursuant to which the forms and terms of the Universal
Warrants evidenced by such Warrant Certificates were established;
(iii) an Officer's Certificate setting forth the forms and terms of the
Universal Warrants evidenced by such Warrant Certificates stating that the form
or forms and terms of the Universal Warrants evidenced by such Warrant
Certificates have been established pursuant to Sections 1.02 and 1.03 and comply
with this Agreement, and covering such other matters as the Warrant Agent may
reasonably request; and
(iv) At the option of the Company, either an Opinion of Counsel (as
defined below) or a letter addressed to the Warrant Agent permitting it to rely
on an Opinion of Counsel, substantially to the effect that:
(A) the forms of the Warrant Certificates have been duly authorized
and established in conformity with the provisions of this Agreement;
(B) in the case of an underwritten offering, the terms of the
Universal Warrants have been duly authorized and established in conformity
with the provisions of this Agreement and, in the case of an offering that
is not underwritten, certain terms of the Universal Warrants have been
established pursuant to a Board Resolution, an Officer's Certificate or a
supplemental agreement in accordance with this Agreement, and when such
other terms as are to be established pursuant to procedures set forth in
an Issuer Order shall have been established, all terms will have been duly
authorized by the Company and will have been established in conformity
with the provisions of this Agreement; and
(C) when the Warrant Certificates have been executed by the Company
and countersigned by the Warrant Agent in accordance with the provisions
of this Agreement and delivered to and duly paid for by the purchasers
thereof, subject to such other conditions as may be set forth in such
opinion of counsel, they will have been duly issued under this Agreement
and the Universal Warrants evidenced thereby will be valid and legally
binding obligations of the Company, enforceable in accordance with their
respective terms, and will be entitled to the benefits of this Agreement.
In rendering such opinions, such counsel may qualify any opinions as to
enforceability by stating that such enforceability may be limited by
bankruptcy, insolvency, reorganization, liquidation, moratorium and other
similar laws affecting the rights and remedies of creditors and is subject
to general principles of equity (regardless of whether such enforceability
is considered in a proceeding in equity or at law). Such counsel may rely,
as to all matters governed by the laws of jurisdictions other than the
State of New York and the federal law of the United
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States, upon opinions of other counsel (copies of which shall be delivered
to the Warrant Agent), who shall be counsel reasonably satisfactory to the
Warrant Agent, in which case the opinion shall state that such counsel
believes he and the Warrant Agent are entitled so to rely. Such counsel
may also state that, insofar as such opinion involves factual matters,
such counsel has relied, to the extent such counsel deems proper, upon
certificates of officers of the Company and its subsidiaries and
certificates of public officials.
"Issuer Order" means a written statement, request or order signed in
the name of the Company (i) by the chairman of the Board of Directors, the
president, the executive vice president or any senior vice president and (ii) by
the treasurer or any assistant treasurer, or the secretary or any assistant
secretary or such other person specifically designated by the Board of Directors
to execute any such written instrument, request or order.
"Opinion of Counsel" means an opinion in writing signed by Cleary,
Gottlieb, ▇▇▇▇▇ & ▇▇▇▇▇▇▇▇ or by such other legal counsel, who may be an
employee of or counsel to the Company, and who shall be satisfactory to the
Warrant Agent.
(b) The Warrant Agent shall have the right to decline to countersign and
deliver any Warrant Certificates under this Section if the Warrant Agent, being
advised by counsel, determines that such action may not lawfully be taken by the
Company or if the Warrant Agent in good faith determines that (i) such action
would expose the Warrant Agent to personal liability to existing registered or
beneficial holders of Universal Warrants (each, a "Warrantholder") or would
affect the Warrant Agent's own rights, duties or immunities under the Warrant
Certificates, the Universal Warrants, this Agreement or otherwise or (ii) the
terms of such Universal Warrants are administratively unacceptable to it.
(c) If the Company shall establish pursuant to Section 1.03 that the
Universal Warrants of a series are to be evidenced in whole or in part by one or
more Global Warrant Certificates, then the Company shall execute and the Warrant
Agent shall, in accordance with this Section and the Issuer Order with respect
to such series, countersign and deliver one or more Global Warrant Certificates
that (i) shall evidence all or part of the Universal Warrants of such series
issued in such form and not yet canceled, (ii) shall be registered in the name
of the Depositary (as defined below) for such Universal Warrants or the nominee
of such Depositary, (iii) shall be delivered by the Warrant Agent to such
Depositary or pursuant to such Depositary's instructions and (iv) shall bear a
legend substantially to the following effect: "Unless and until it is exchanged
in whole or in part for Universal Warrants in definitive registered form, this
Warrant Certificate and the Universal Warrants evidenced hereby may not be
transferred except as a whole by the Depositary to the nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary or by the Depositary or any such nominee to a successor Depositary or
a nominee of such successor Depositary".
"Depositary" means, with respect to the Universal Warrants of any
series that are or may be evidenced by one or more Global Warrant Certificates,
the person or persons designated as Depositary by the Company pursuant to
Section 1.03 hereof until a successor Depositary shall have become such pursuant
to the applicable provisions of this Agreement, and thereafter "Depositary"
shall mean or include each person who is then a Depositary hereunder,
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and if at any time there is more than one such person, "Depositary" as used with
respect to the Universal Warrants of any such series shall mean the Depositary
with respect to that series.
(d) If so required by applicable law, each Depositary for a series of
Universal Warrants must, at the time of its designation and at all times while
it serves as Depositary, be a clearing agency registered under the Securities
Exchange Act of 1934 and any other applicable statute or regulation.
(e) Each Warrant Certificate shall be dated the date of its
countersignature. A Warrant Certificate shall not be valid for any purpose, and
no Universal Warrant evidenced thereby shall be exercisable, unless and until
such Warrant Certificate has been countersigned by the manual signature of an
authorized officer of the Warrant Agent. Such countersignature by an authorized
officer of the Warrant Agent upon any Warrant Certificate executed by the
Company in accordance with this Agreement shall be conclusive evidence that the
Warrant Certificate so countersigned and the Universal Warrants evidenced
thereby have been duly issued hereunder.
Section 1.05. PLACE OF EXERCISE; REGISTRATION OF TRANSFERS AND
EXCHANGES. (a) Except as otherwise established pursuant to Section 1.03 with
respect to Universal Warrants of a series, Universal Warrants may be presented
for exercise at the Warrant Agent's Window (as defined below) in accordance with
procedures to be established pursuant to Section 1.03.
(b) Except as otherwise provided herein or as established pursuant to
Section 1.03 with respect to the Universal Warrants of a series, the Warrant
Agent shall from time to time register the transfer of any outstanding
Registered Definitive Warrant Certificates upon the records to be maintained by
it for that purpose (the "Warrant Register") at the Warrant Agent's Office (as
defined below), subject to such reasonable regulations as the Company or the
Warrant Agent may prescribe with respect to the Universal Warrants of such
series, upon surrender thereof at the Warrant Agent's Window (as defined below),
Attention: Transfer Department, duly endorsed by, or accompanied by a written
instrument or instruments of transfer in form satisfactory to the Warrant Agent
and the Company duly executed by, the Registered Holder(s) (as defined below)
thereof or by the duly appointed legal representative thereof or by a duly
authorized attorney, such signature to be guaranteed by a bank or trust company
with a correspondent office in The City of New York or by a broker or dealer
that is a member of the National Association of Securities Dealers, Inc. or by a
member of a national securities exchange or in such other manner acceptable to
the Warrant Agent and the Company. Upon any such registration of transfer, one
or more new Warrant Certificates of the same series and like terms evidencing a
like number of unexercised Universal Warrants shall be issued to the
transferee(s) and the surrendered Warrant Certificate shall be cancelled by the
Warrant Agent.
(c) Except as otherwise established for a series of Universal Warrants
pursuant to Section 1.03, at the option of a Registered Holder, Definitive
Warrant Certificates may be exchanged for other Definitive Warrant Certificates
evidencing the same aggregate number of unexercised Universal Warrants of the
same series and of like tenor upon surrender to the Warrant Agent of the
Definitive Warrant Certificates to be exchanged at the Warrant Agent's Window,
Attention: ______________. The "Warrant Agent's Window" shall be the window of
the Warrant Agent maintained for purposes of transfer and tender in the Borough
of Manhattan, The City of New York (or at the address of any additional agency
established by the Company
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pursuant to Section 1.08 hereof, or at the address of any successor Warrant
Agent (as provided in Section 5.03)), which is, on the date of this Agreement,
[___________________________ _____________]. If the Universal Warrants of any
series are issued in both registered and unregistered form, except as otherwise
established for such series pursuant to Section 1.03, at the option of the
holder thereof, Warrant Certificates evidencing Bearer Warrants of any series
may be exchanged for Definitive Warrant Certificates evidencing an equal number
of unexercised Registered Warrants of the same series and of like tenor upon
surrender of such Warrant Certificates evidencing Bearer Warrants to be
exchanged at the Warrant Agent's Window, Attention: Transfer Department. Unless
otherwise established for such series pursuant to Section 1.03, Registered
Warrants of any series may not be exchanged for Bearer Warrants of such series.
Upon surrender of any unexercised Warrant Certificate for exchange, the Warrant
Agent shall cancel such Warrant Certificate, and the Company shall execute, and
the Warrant Agent shall countersign and deliver, one or more new Warrant
Certificates evidencing a like number of unexercised Universal Warrants of the
same series and of like tenor.
(d) Universal Warrants evidenced by the Warrant Certificates issued upon
transfer or exchange pursuant to paragraph (b) or (c) of this Section shall be
valid obligations of the Company, constituting the same obligations of the
Company as the Universal Warrants evidenced by the Warrant Certificates
surrendered for transfer or exchange, and entitled to the same benefits under
this Agreement as were such Universal Warrants evidenced by the Warrant
Certificates prior to such surrender.
(e) Except as provided in Section 1.06, no service charge shall be made
for any registration of transfer or exchange of Warrant Certificates, but the
Company may require payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection with any registration of
transfer or exchange of Warrant Certificates, other than exchanges pursuant to
this Section not involving any transfer.
(f) In the event that upon any exercise of Universal Warrants evidenced by
a Warrant Certificate the number of Universal Warrants exercised shall be less
than the total number of Universal Warrants evidenced by such Warrant
Certificate, there shall be issued to the Registered Holder thereof (or, in the
case of Bearer Warrants, the holder thereof) or his assignee a new Warrant
Certificate evidencing the number of Universal Warrants of the same series and
of like tenor not exercised.
(g) Warrant Certificates evidencing Bearer Warrants shall be transferable
by delivery.
(h) Notwithstanding any other provision of this Agreement, unless and
until it is exchanged in whole or in part for Definitive Warrant Certificates, a
Global Warrant Certificate evidencing all or a portion of the Universal Warrants
of a series may not be transferred except as a whole by the Depositary for such
series to a nominee of such Depositary or by a nominee of such Depositary to
such Depositary or another nominee of such Depositary or by such Depositary or
any such nominee to a successor Depositary for such series or a nominee of such
successor Depositary.
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(i) If at any time the Depositary for any series of Universal Warrants
notifies the Company that it is unwilling or unable to continue as Depositary
for such series or if at any time the Depositary for such series shall no longer
be eligible under this Agreement, the Company shall appoint a successor
Depositary with respect to such series. If a successor Depositary for such
series is not appointed by the Company within 90 days after the Company receives
such notice or becomes aware of such ineligibility, the Company's election
pursuant to Section 1.03 that such series be evidenced by one or more Global
Warrant Certificates shall no longer be effective and the Company will execute,
and the Warrant Agent, upon receipt of an Officer's Certificate for the
countersignature and delivery of Definitive Warrant Certificates evidencing
Universal Warrants of such series, will countersign and deliver Definitive
Warrant Certificates evidencing Universal Warrants of such series and of like
tenor in an aggregate number equal to the number of the unexercised Universal
Warrants represented by such Global Warrant Certificate or Certificates in
exchange for such Global Warrant Certificate or Certificates.
(j) If established pursuant to Section 1.03 with respect to a series of
Universal Warrants evidenced in whole or in part by one or more Global Warrant
Certificates, the Depositary for such series may surrender such Global Warrant
Certificate or Certificates in exchange in whole or in part for Definitive
Warrant Certificates evidencing Universal Warrants of the same series and of
like tenor on such terms as are acceptable to the Company and such Depositary.
Thereupon, the Company shall execute, and the Warrant Agent shall countersign
and deliver, without service charge,
(i) to the person specified by such Depositary a new Definitive
Warrant Certificate of the same series and of like tenor in an aggregate
number equal to and in exchange for such person's beneficial interest in
the Universal Warrants evidenced by such Global Warrant Certificate or
Certificates; and
(ii) to such Depositary a new Global Warrant Certificate or
Certificates evidencing Universal Warrants of the same series and of like
tenor in number equal to the difference, if any, between the number of
unexercised Universal Warrants evidenced by the surrendered Global Warrant
Certificates and the number of unexercised Universal Warrants evidenced by
such Definitive Warrant Certificate countersigned and delivered pursuant
to clause 1.05(j)(i) above.
Upon the exchange of a Global Warrant Certificate for Definitive Warrant
Certificates, such Global Warrant Certificate shall be canceled by the Warrant
Agent or an agent of the Company or the Warrant Agent. Registered Definitive
Warrant Certificates issued in exchange for a Registered Global Warrant
Certificate pursuant to this Section shall be registered in such names and in
such authorized denominations as the Depositary for such series, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Warrant Agent or an agent of the Company or the Warrant Agent. The
Warrant Agent or such agent shall deliver such Warrant Certificates to or as
directed by the persons in whose names such Warrant Certificates are so
registered. Definitive Bearer Warrant Certificates issued in exchange for a
Global Bearer Warrant Certificate pursuant to this Section shall be issued in
such authorized denominations as the Depositary for such series, pursuant to
instructions from its direct or indirect participants or otherwise, shall
instruct the Warrant Agent or an agent of the Company or the Warrant Agent.
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The Warrant Agent or such agent shall deliver such Warrant Certificates to or as
directed by the Depositary for such series.
(k) Notwithstanding anything herein or in the terms of any series of
Universal Warrants to the contrary, none of the Company, the Warrant Agent or
any agent of the Company or the Warrant Agent (any of which, other than the
Company, shall rely on an Officer's Certificate and an Opinion of Counsel) shall
be required to exchange any Bearer Warrant for a Registered Warrant if such
exchange would result in adverse Federal income tax consequences to the Company
under then applicable United States Federal income tax laws.
(l) The Company will maintain one or more offices or agencies in a city or
cities located outside the United States (including any city in which such an
agency is required to be maintained under the rules of any stock exchange on
which the Universal Warrants of such series are listed) where the Bearer
Warrants, if any, of each series may be presented for exercise and payment. No
payment on any Bearer Warrants will be made upon presentation of such Bearer
Warrant at an agency of the Company within the United States nor will any
payment be made by transfer to an account in, or by mail to an address in, the
United States unless pursuant to applicable United States laws and regulations
then in effect such payment can be made without adverse tax consequences to the
Company. Notwithstanding the foregoing, payments in United States dollars with
respect to Bearer Warrants of any series which are payable in United States
dollars may be made at an agency of the Company maintained in the Borough of
Manhattan, The City of New York if such payment in United States dollars at each
agency maintained by the Company outside the United States for payment on such
Bearer Warrants is illegal or effectively precluded by exchange controls or
other similar restrictions.
(m) The Company may from time to time designate one or more additional
offices or agencies where the Universal Warrants of a series may be presented
for exercise and payment, where the Universal Warrants of that series may be
presented for exchange as provided in this Agreement and where the Registered
Universal Warrants of that series may be presented for registration of transfer
as in this Agreement provided, and the Company may from time to time rescind any
such designation, as the Company may deem desirable or expedient; provided,
however, that no such designation or rescission shall in any manner relieve the
Company of its obligation to maintain the agencies provided for in this Section.
The Company will give to the Warrant Agent prompt written notice of any such
designation or rescission thereof.
Section 1.06. MUTILATED OR MISSING WARRANT CERTIFICATES. (a) If any
Warrant Certificate evidencing Universal Warrants of any series is mutilated,
lost, stolen or destroyed, the Company may in its discretion execute, and the
Warrant Agent may countersign and deliver, in exchange and substitution for the
mutilated Warrant Certificate, or in replacement for the Warrant Certificate
lost, stolen or destroyed, a new Warrant Certificate representing an equivalent
number of unexercised Universal Warrants of the same series and of like tenor,
bearing an identification number, if applicable, not contemporaneously
outstanding, but only (in case of loss, theft or destruction) upon receipt of
evidence satisfactory to the Company and the Warrant Agent of such loss, theft
or destruction of such Warrant Certificate and security or indemnity, if
requested, also satisfactory to them. Applicants for such substitute Warrant
Certificates shall also comply with such other reasonable regulations and pay
such other reasonable charges as the Company or the Warrant Agent may prescribe.
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(b) In case the Universal Warrants evidenced by any such mutilated, lost,
stolen or destroyed Warrant Certificate have been or are about to be exercised,
or deemed to be exercised, the Company in its absolute discretion may, instead
of issuing a new Warrant Certificate, and subject to the conditions set forth in
clause 1.06(a) above, direct the Warrant Agent to treat the same as if it had
received the Warrant Certificate together with an irrevocable exercise notice in
proper form in respect thereof, as established with respect to the Universal
Warrants of such series.
(c) The Universal Warrants evidenced by each new Warrant Certificate
issued pursuant to this Section in lieu of any lost, stolen or destroyed Warrant
Certificate shall be original, additional contractual obligations of the
Company, and shall be entitled to the same benefits under this Agreement as the
Universal Warrants evidenced by the Warrant Certificate that was lost, stolen or
destroyed.
(d) Upon the issuance of any new Warrant Certificate in accordance with
this Section, the Company may require the payment of a sum sufficient to cover
any tax or other governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the Warrant Agent)
connected therewith.
(e) The provisions of this Section are exclusive and shall preclude (to
the extent lawful) any other rights and remedies with respect to the replacement
or payment of mutilated, lost, stolen or destroyed Warrant Certificates.
Section 1.07. REGISTERED HOLDERS. (a) Prior to due presentment for
registration of transfer, the Company, the Warrant Agent, and any agent of the
Company or the Warrant Agent may deem and treat the person in whose name a
Warrant Certificate shall be registered in the Warrant Register (a "Registered
Holder") as the absolute owner of the Registered Warrants evidenced thereby
(notwithstanding any notation of ownership or other writing on the Warrant
Certificate) for any purpose whatsoever, and as the person entitled to exercise
the rights represented by the Registered Warrants evidenced thereby, and neither
the Company nor the Warrant Agent, nor any agent of the Company or the Warrant
Agent, shall be affected by any notice to the contrary. All payments on account
of any Registered Warrant to the Registered Holder, or upon his order, shall be
valid, and to the extent of the sum or sums so paid, effectual to satisfy and
discharge the liability of the Company for moneys paid upon such Registered
Warrant. This Section shall be without prejudice to the rights of Warrantholders
as described elsewhere herein.
(b) The Company, the Warrant Agent and any agent of the Company or the
Warrant Agent may treat the holder of any Bearer Warrant as the absolute owner
of such Bearer Warrant for the purpose of exercising the rights represented
thereby and for all other purposes and neither the Company, the Warrant Agent,
nor any agent of the Company or the Warrant Agent shall be affected by any
notice to the contrary. All payments on account of such Bearer Warrant made to
any such person, or upon his order, shall be valid, and, to the extent of the
sum or sums so paid, effectual to satisfy and discharge the liability for moneys
payable upon such Bearer Warrant. This Section shall be without prejudice to the
rights of Warrantholders as described elsewhere herein.
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Section 1.08. CANCELLATION. All Universal Warrant Certificates
surrendered to the Warrant Agent for redemption or registration of transfer or
exchange shall be promptly cancelled by the Warrant Agent. The Company may at
any time deliver to the Warrant Agent for cancellation any Universal Warrant
Certificates previously countersigned and delivered hereunder which the Company
may have acquired in any manner whatsoever, and all Universal Warrant
Certificates so delivered shall, upon receipt by the Warrant Agent of an Issuer
Order, be promptly cancelled by the Warrant Agent. No Universal Warrant
Certificates shall be countersigned in lieu of or in exchange for any Universal
Warrant Certificates cancelled as provided in this Section, except as permitted
by this Agreement. All cancelled Universal Warrant Certificates held by the
Warrant Agent shall be disposed of in accordance with its customary procedures
and a certificate of their disposition shall be delivered by the Warrant Agent
to the Company, unless by Issuer Order the Company shall direct that cancelled
Universal Warrant Certificates be returned to it.
If the Company or any affiliate of the Company shall acquire any
Universal Warrant Certificate, such acquisition shall not operate as a
cancellation of such Universal Warrant Certificate unless and until such
Universal Warrant Certificate is delivered to the Warrant Agent for the purpose
of cancellation.
Section 1.09. ADDITIONAL WARRANT AGENTS. Whenever the Company shall
appoint a warrant agent other than the Warrant Agent with respect to the
Universal Warrants of any series, it will cause such warrant agent to execute
and deliver to the Warrant Agent an instrument in which such agent shall agree
with the Warrant Agent, subject to the provisions of this Section,
(a) that it will hold all Warrant Property received by it as such agent
for any payment with respect to the Universal Warrants of such series in trust
for the benefit of the Warrantholders of such series if any, or of the Warrant
Agent, and
(b) that it will give the Warrant Agent notice of any failure by the
Company to make any payment with respect to the Universal Warrants of such
series when the same shall be due and payable.
The Company will, on or prior to each date of any payment of
Universal Warrants of any such series, deposit with the Warrant Agent or any
such additional warrant agent a sum sufficient to make such payment, and the
Company will promptly notify the Warrant Agent of any failure to take such
action with respect to any such additional warrant agent.
Section 1.10. APPOINTMENT OF CALCULATION AGENTS. Pursuant to Section
1.03 hereof, the Company may, in connection with any series of Universal
Warrants appoint Credit Suisse First Boston Corporation or any other person or
entity as Calculation Agent to make any calculations as may be required pursuant
to the terms of any such series of Universal Warrants. Any such Calculation
Agent shall act as an independent expert and, unless otherwise provided by this
Agreement, its calculations and determinations under this Agreement shall,
absent manifest error, be final and binding on the Company, the Warrant Agent
and the Warrantholders. Any such calculations will be made available to a
Warrantholder for inspection at the Warrant Agent's Office.
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ARTICLE 2
DURATION AND EXERCISE OF UNIVERSAL WARRANTS
Section 2.01. DURATION AND EXERCISE OF UNIVERSAL WARRANTS. All terms
with respect to duration and exercise of Universal Warrants will be established
pursuant to Section 1.03 for each series of Universal Warrants.
Section 2.02. RETURN OF MONEY HELD UNCLAIMED FOR TWO YEARS. Except
as otherwise provided herein, any money or other assets deposited with or paid
to the Warrant Agent for the payment of any Universal Warrants and not paid but
remaining unclaimed for two years after the date upon which such money or other
assets shall have become due and payable shall be repaid by the Warrant Agent to
the Company, at the Company's request pursuant to an Officer's Certificate, and
the holders of such Universal Warrants shall thereafter look only to the Company
for any payment which such holders may be entitled to collect and all liability
of the Warrant Agent with respect to such money shall thereupon cease; provided
that the Warrant Agent, before making any such repayment, may (but shall not be
obligated to) at the expense of the Company notify (i) in the case of Registered
Warrants evidenced by Definitive Warrant Certificates, the Registered Holders,
(ii) in the case of Warrants evidenced by one or more Global Warrant
Certificates, the participants of the Depositary, and (iii) in the case of
Bearer Warrants evidenced by Definitive Warrant Certificates, the holders
thereof, in each case as provided in Section 6.04, that said money has not been
so applied and remains unclaimed and that after a date named in the notification
any unclaimed balance of said money then remaining will be returned to the
Company.
ARTICLE 3
OTHER PROVISIONS RELATING TO RIGHTS OF WARRANTHOLDERS
Section 3.01. WARRANTHOLDER MAY ENFORCE RIGHTS. Notwithstanding any
of the provisions of this Agreement, any Warrantholder may, without the consent
of the Warrant Agent, the Depositary, any participant of the Depositary, any
other Warrantholder, the holder of any Warrant Property or, if applicable, the
common depositary for ▇▇▇▇▇▇ Guaranty Trust Company of New York, Brussels
Office, or its successor, as operator of the Euroclear System and Clearstream
Banking SA, or its successor, in and for its own behalf, enforce, and may
institute and maintain, any suit, action or proceeding against the Company
suitable to enforce, or otherwise in respect of, its right to exercise its
Universal Warrants as provided in this Agreement and established with respect to
such Universal Warrants pursuant to Section 1.03.
Section 3.02. NO RIGHTS AS HOLDER OF WARRANT PROPERTY CONFERRED BY
UNIVERSAL WARRANTS OR WARRANT CERTIFICATES. No Warrant Certificate or Universal
Warrant evidenced thereby shall entitle the holder or any beneficial owner
thereof to any of the rights of a holder or beneficial owner of Warrant
Property, including, without limitation, the right to receive the payment of
principal of (premium, if any) or interest, if any, on Warrant Property or to
vote or to enforce any rights under any documents governing Warrant Property.
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Section 3.03. MERGER, CONSOLIDATION, CONVEYANCE OR TRANSFER. (a) If
at any time there shall be a merger or consolidation of the Company or a
conveyance or transfer of its property and assets substantially as an entirety,
then in any such event the successor, if other than the Company, shall by an
instrument of assumption delivered to the Warrant Agent succeed to and be
substituted for the Company, with the same effect as if it had been named herein
and in the Warrant Certificates as the Company. The Company shall thereupon,
except in the case of a transfer by way of lease, be relieved of any further
obligation hereunder and under the Universal Warrants and the Warrant
Certificates, and the Company, as the predecessor corporation, except in the
case of a transfer by way of lease, may thereupon or at any time thereafter be
dissolved, wound up or liquidated. Such successor and assuming corporation may
thereupon cause to be signed, and may issue either in its own name or in the
name of the Company, Warrant Certificates evidencing any or all of the Universal
Warrants issuable hereunder that theretofore shall not have been signed by the
Company. All the Universal Warrants so issued shall in all respects have the
same legal rank and benefit under this Agreement as the Universal Warrants
theretofore or thereafter issued in accordance with the terms of this Agreement
as though all of such Universal Warrants had been issued at the date of the
execution hereof. In any case of any such merger, consolidation, conveyance or
transfer, such changes in phraseology and form (but not in substance) may be
made in the Warrant Certificates representing the Universal Warrants thereafter
to be issued as may be appropriate. (b) The Warrant Agent may receive an Opinion
of Counsel as conclusive evidence that any such merger, consolidation,
conveyance, transfer or assumption complies with the provisions of this Section.
ARTICLE 4
UNIVERSAL WARRANTS ACQUIRED BY THE COMPANY; PAYMENT OF TAXES
Section 4.01. UNIVERSAL WARRANTS ACQUIRED BY THE COMPANY. (a) In the
event the Company shall purchase or otherwise acquire Universal Warrants, such
Universal Warrants may, at the option of the Company, be (i) in the case of
Bearer Warrants or Registered Warrants evidenced by Definitive Warrant
Certificates, delivered to the Warrant Agent, and if so delivered, the Warrant
Agent shall promptly cancel such Universal Warrants on the records of the
Warrant Agent or (ii) in the case of Warrants evidenced by one or more Global
Warrant Certificates, surrendered free through a participant of the Depositary
to the Depositary for credit to the account of the Warrant Agent maintained at
the Depositary, and if so credited, the Warrant Agent shall promptly note the
cancellation of such Universal Warrants by notation on the records of the
Warrant Agent and the Warrant Agent shall cause its records to be marked to
reflect the reduction in the number of Universal Warrants evidenced by the
Global Warrant Certificate or Certificates by the number of Universal Warrants
so canceled promptly after such account is credited. Universal Warrants acquired
by the Company may also, at the option of the Company, be resold by the Company
directly or to or through any of its affiliates in lieu of being surrendered to
the Warrant Agent or credited to its account. No Warrant Certificate shall be
countersigned in lieu of or in exchange for any Universal Warrant that is
canceled as provided herein, except as otherwise expressly permitted by this
Agreement. (b) Any canceled Warrant Certificate held by the Warrant Agent under
this Agreement shall be disposed of by the Warrant Agent in accordance with its
customary procedures unless otherwise directed by the Company, and the Warrant
Agent shall deliver a certificate of disposition to the Company evidencing the
same.
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Section 4.02. PAYMENT OF TAXES. The Company will pay all stamp,
withholding and other duties, if any, attributable to the initial issuance of
each series or tranche of Universal Warrants; provided, however, that, anything
in this Agreement to the contrary notwithstanding, the Company shall not be
required to pay any tax or other governmental charge that may be payable in
respect of any transfer involving any beneficial or record interest in, or
ownership interest of, any Universal Warrants or Warrant Certificates.
ARTICLE 5
CONCERNING THE WARRANT AGENT
Section 5.01. WARRANT AGENT. The Company hereby appoints
___________________ as Warrant Agent of the Company in respect of the Universal
Warrants upon the terms and subject to the conditions set forth herein; and
______________________ hereby accepts such appointment. The Warrant Agent shall
have the powers and authority granted to and conferred upon it in this Agreement
and such further powers and authority to act on behalf of the Company as the
Company may hereafter grant to or confer upon it with its consent. All of the
terms and provisions with respect to such powers and authority contained in any
Warrant Certificate are subject to and governed by the terms and provisions
hereof.
Section 5.02. CONDITION OF WARRANT AGENT'S OBLIGATIONS. The Warrant
Agent accepts its obligations herein set forth upon the terms and conditions
hereof, including the following, to all of which the Company agrees and to all
of which the rights hereunder of the holders from time to time of the Universal
Warrants shall be subject:
(a) The Company agrees promptly to pay the Warrant Agent the compensation
to be agreed upon with the Company for all services rendered by the Warrant
Agent and to reimburse the Warrant Agent for its reasonable out-of-pocket
expenses (including attorneys' fees and expenses) incurred by the Warrant Agent
without negligence or bad faith on its part in connection with the services
rendered by it hereunder. The Company also agrees to indemnify the Warrant Agent
for, and to hold it harmless against, any loss, liability or expense (including
reasonable attorneys' fees and expenses) incurred without negligence or bad
faith on the part of the Warrant Agent, arising out of or in connection with its
acting as such Warrant Agent hereunder, as well as the reasonable costs and
expenses of defending against any claim of liability in the premises. The
obligations of the Company under this Section shall survive the expiration of
all Universal Warrants issued under this Agreement.
(b) In acting under this Agreement, the Warrant Agent is acting solely as
agent of the Company and does not assume any obligation or relationship of
agency or trust for or with any Warrantholders.
(c) The Warrant Agent may consult with counsel satisfactory to it
(including counsel to the Company), and the opinion of such counsel shall be
full and complete authorization and protection in respect of any action taken,
suffered or omitted by it hereunder in good faith and in accordance with the
opinion of such counsel.
15
(d) The Warrant Agent shall be protected and shall incur no liability for
or in respect of any action taken or thing suffered by it in reliance upon any
notice, direction, consent, certificate, affidavit, opinion, statement or other
paper or document reasonably believed by it to be genuine and to have been
presented or signed by the proper parties.
(e) The Warrant Agent and its officers, directors and employees may become
the owner of, or acquire any interest in, any Universal Warrants or other
obligations of the Company, with the same rights that it or they would have if
it were not the Warrant Agent hereunder and, to the extent permitted by
applicable law, it or they may engage or be interested in any financial or other
transaction with the Company and may act on behalf of, or as depositary, trustee
or agent for, any committee or body of owners or holders of Universal Warrants
or other obligations of the Company as freely as if it were not the Warrant
Agent hereunder.
(f) The Warrant Agent shall not be under any liability for interest on any
monies at any time received by it pursuant to any of the provisions of this
Agreement nor shall it be obligated to segregate such monies from other monies
held by it, except as required by law. The Warrant Agent shall not be
responsible for advancing funds on behalf of the Company.
(g) The Warrant Agent shall not be under any responsibility with respect
to the validity or sufficiency of this Agreement or the execution and delivery
hereof (except the due authorization, execution and delivery hereof by the
Warrant Agent) or with respect to the validity or execution of the Warrant
Certificates (except its countersignature thereof).
(h) The recitals contained herein and in the Warrant Certificates (except
as to the Warrant Agent's countersignature thereon) shall be taken as the
statements of the Company, and the Warrant Agent assumes no responsibility for
the correctness of the same.
(i) The Warrant Agent shall be obligated to perform such duties as are
specifically set forth in this Agreement and no implied duties or obligations
shall be read into this Agreement against the Warrant Agent. The Warrant Agent
shall not be under any obligation to take any action hereunder likely to involve
it in any expense or liability, the payment of which is not, in its reasonable
opinion, assured to it. The Warrant Agent shall not be accountable or under any
duty or responsibility for the application by the Company of any proceeds of the
issuance of any Warrants. The Warrant Agent shall have no duty or responsibility
in case of any default by the Company in the performance of its covenants or
agreements contained in this Agreement or in any Warrant Certificate or in the
case of the receipt of any written demand from a holder of a Universal Warrant
with respect to such default, including, without limiting the generality of the
foregoing, any duty or responsibility to initiate or attempt to initiate any
proceedings at law or otherwise or, except as provided in Section 6.02, to make
any demand upon the Company.
Section 5.03. RESIGNATION AND APPOINTMENT OF SUCCESSOR. (a) The
Company agrees, for the benefit of the holders from time to time of the
Universal Warrants, that there shall at all times be a Warrant Agent hereunder
with respect to each series of Universal Warrants until all the Universal
Warrants of such series are no longer outstanding or until monies for the
payment of all outstanding Universal Warrants of such series, if any, shall have
been paid
16
to the Warrant Agent and shall have been returned to the Company as provided in
Section 2.02, whichever occurs earlier.
(b) The Warrant Agent may at any time resign as such agent with respect to
any series of Universal Warrants by giving written notice to the Company of such
intention on its part, specifying the date on which its desired resignation
shall become effective, subject to the appointment of a successor Warrant Agent
with respect to such series and acceptance of such appointment by such successor
Warrant Agent as hereinafter provided. The Warrant Agent hereunder may be
removed with respect to any series of Universal Warrants at any time by the
filing with it of an instrument in writing signed by or on behalf of the Company
and specifying such removal and the date when it shall become effective. Such
resignation or removal shall take effect upon the appointment by the Company, as
hereinafter provided, of a successor Warrant Agent with respect to such series
(which shall be a banking institution organized under the laws of the United
States of America or one of the states thereof, have a combined capital and
surplus of at least $50,000,000 (as set forth in its most recent reports of
condition published pursuant to law or to the requirements of any United States
federal or state regulatory or supervisory authority) and having an office in
the Borough of Manhattan, The City of New York) and the acceptance of such
appointment by such successor Warrant Agent. In the event a successor Warrant
Agent has not been appointed and accepted its duties within 90 days of the
Warrant Agent's notice of resignation, the Warrant Agent may apply to any court
of competent jurisdiction for the designation of a successor Warrant Agent with
respect to such series. The obligation of the Company under Section 5.02(a)shall
continue to the extent set forth therein notwithstanding the resignation or
removal of the Warrant Agent with respect to any series of Universal Warrants.
(c) In case at any time the Warrant Agent with respect to any series of
Universal Warrants shall give notice of its intent to resign, or shall be
removed, or shall become incapable of acting, or shall be adjudged a bankrupt or
insolvent, or make an assignment for the benefit of its creditors, or consent to
the appointment of a receiver or custodian of all or any substantial part of its
property, or shall admit in writing its inability to pay or meet its debts as
they mature, or if a receiver or custodian of it or of all or any substantial
part of its property shall be appointed, or if any public officer shall have
taken charge or control of the Warrant Agent or of its property or affairs, for
the purpose of rehabilitation, conservation or liquidation, a successor Warrant
Agent, qualified as aforesaid, shall be promptly appointed by the Company by an
instrument in writing, filed with the successor Warrant Agent. Upon the
appointment as aforesaid of a successor Warrant Agent and acceptance by the
latter of such appointment, the Warrant Agent so superseded shall cease to be
Warrant Agent hereunder with respect to such series.
(d) Any successor Warrant Agent appointed hereunder with respect to any
series of Universal Warrants shall execute, acknowledge and deliver to its
predecessor and to the Company an instrument accepting such appointment
hereunder, and thereupon such successor Warrant Agent, without any further act,
deed or conveyance, shall become vested with all the authority, rights, powers,
trusts, immunities, duties and obligations of such predecessor with like effect
as if originally named as Warrant Agent with respect to such series hereunder,
and such predecessor, upon payment of its charges and disbursements then unpaid,
shall thereupon become obligated to transfer, deliver and pay over, and such
successor Warrant Agent shall be
17
entitled to receive, all monies, securities and other property on deposit with
or held by such predecessor (including, without limitation, the Warrant
Register), as Warrant Agent with respect to such series hereunder.
(e) If a successor Warrant Agent is appointed with respect to the
Universal Warrants of one or more (but not all) series, the Company, the
predecessor Warrant Agent and each successor Warrant Agent with respect to the
Universal Warrants of any applicable series shall execute and deliver an
agreement supplemental hereto that shall contain such provisions as shall be
deemed necessary or desirable to confirm that all the rights, powers and duties
of the predecessor Warrant Agent with respect to the Universal Warrants of any
series as to which the predecessor Warrant Agent is not retiring shall continue
to be vested in the predecessor Warrant Agent, and shall add to or change any of
the provisions of this Agreement as shall be necessary to provide for or
facilitate the administration of the Universal Warrants hereunder by more than
one Warrant Agent, it being understood that nothing herein or in such
supplemental agreement shall constitute such Warrant Agents Co-Warrant Agents of
the same Universal Warrants and that each such Warrant Agent shall be a Warrant
Agent with respect to separate series of Universal Warrants.
(f) Any corporation into which the Warrant Agent hereunder may be merged
or converted or any corporation with which the Warrant Agent may be
consolidated, or any corporation resulting from any merger, conversion or
consolidation to which the Warrant Agent shall be a party or any corporation to
which the Warrant Agent shall sell or otherwise transfer all or substantially
all the corporate agency assets and business of the Warrant Agent, provided that
it shall be qualified as aforesaid, shall be the successor Warrant Agent under
this Agreement without the execution or filing of any paper or any further act
on the part of any of the parties hereto.
ARTICLE 6
MISCELLANEOUS
Section 6.01. AMENDMENT. (a) This Agreement and the terms of the
Universal Warrants of any series may be amended (by means of an agreement
supplemental hereto or otherwise) by the Company and the Warrant Agent, without
the consent of the Warrantholders of any series of Universal Warrants, (i) for
the purpose of curing any ambiguity, or of curing, correcting or supplementing
any defective or inconsistent provision contained herein or therein, (ii) to
establish the form or terms of Warrant Certificates or Universal Warrants of any
series as permitted by Sections 1.02 and 1.03, (iii) to evidence and provide for
the acceptance of appointment hereunder by a successor Warrant Agent with
respect to the Universal Warrants of any series and to add to or change any of
the provisions of this Agreement as shall be necessary to provide for or
facilitate the administration of the Universal Warrants hereunder by more than
one Warrant Agent pursuant to Section 5.03, or (iv) in any other manner which
the Company may deem necessary or desirable and which will not materially and
adversely affect the interests of the Warrantholders of such series.
(b) The Company and the Warrant Agent may modify or amend this Agreement
(by means of an agreement supplemental hereto or otherwise) with the consent of
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Warrantholders holding not less than a majority in number of the then
outstanding Universal Warrants of all series affected by such modification or
amendment, for any purpose; provided, however, that no such modification or
amendment that changes the exercise price of the Universal Warrants of any
series, shortens the period of time during which the Universal Warrants of such
series may be exercised, or otherwise materially and adversely affects the
exercise rights of the affected Warrantholders or reduces the percentage of the
number of outstanding Universal Warrants of such series, the consent of whose
holders is required for modification or amendment of this Agreement, may be made
without the consent of each Warrantholder affected thereby. In the case of
Universal Warrants evidenced by one or more Global Warrant Certificates, the
Company and the Warrant Agent shall be entitled to rely upon certification in
form satisfactory to each of them that any requisite consent has been obtained
from holders of beneficial ownership interests in the relevant Global Warrant
Certificate. Such certification may be provided by participants of the
Depositary acting on behalf of such beneficial owners of Universal Warrants,
provided that any such certification is accompanied by a certification from the
Depositary as to the Universal Warrant holdings of such participants.
(c) An amendment that changes or eliminates any provision of this
Agreement that has expressly been included solely for the benefit of one or more
particular series of Universal Warrants, or that modifies the rights of
Warrantholders of such series with respect to such provision, shall be deemed
not to affect the rights under this Agreement of the Warrantholders of any other
series.
(d) Upon the request of the Company, accompanied by a copy of a Board
Resolution (which Board Resolution may provide general terms or parameters for
such action and may provide that the specific terms of such action may be
determined in accordance with or pursuant to an Issuer Order) authorizing the
execution of any such amendment, and upon the filing with the Warrant Agent of
evidence of the consent of Warrantholders as aforesaid, the Warrant Agent shall
join with the Company in the execution of such amendment unless such amendment
affects the Warrant Agent's own rights, duties or immunities under this
Agreement or otherwise, in which case the Warrant Agent may in its discretion,
but shall not be obligated to, enter into such amendment. In executing, or
accepting the additional duties created by, any amendment permitted by this
Article, the Warrant Agent shall be entitled to receive, and shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
such amendment is authorized or permitted by this Agreement. The fact and date
of the execution of any consent of Warrantholders, or the authority of the
Person executing the same, may be proved in any manner which the Warrant Agent
(with the approval of the Company) deems sufficient.
(e) It shall not be necessary for the consent of the Warrantholders under
this Section to approve the particular form of any proposed amendment, but it
shall be sufficient if such consent shall approve the substance thereof.
Section 6.02. NOTICES AND DEMANDS TO THE COMPANY AND THE WARRANT
AGENT. If the Warrant Agent shall receive any notice or demand addressed to the
Company by any Warrantholder pursuant to the provisions of this Agreement or the
terms of the Universal Warrants of any series, the Warrant Agent shall promptly
forward such notice or demand to the Company.
19
Section 6.03. ADDRESSES FOR NOTICES. Any communications to the
Warrant Agent with respect to this Agreement shall be in writing addressed to
[____________________________, Attention: _______________________] (the "Warrant
Agent's Office") and any communications to the Company with respect to this
Agreement shall be addressed to Credit Suisse First Boston (USA), Inc., Eleven
▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, Attention: Corporate Treasury
Department (or in each case to such other address as shall be given in writing
to the other party hereto).
Section 6.04. NOTICES TO WARRANTHOLDERS. The Company may cause to
have notice given to the Warrantholders of any series by providing the Warrant
Agent with a form of notice to be distributed by (i) in the case of Registered
Warrants evidenced by Definitive Warrant Certificates, the Warrant Agent to
Registered Holders by first class mail, (ii) in the case of Warrants evidenced
by one or more Global Warrant Certificates, the Depositary to be distributed by
the Depositary to its participants in accordance with the custom and practices
of the Depositary or (iii) in the case of Bearer Warrants evidenced by
Definitive Warrant Certificates, publication at least once in an Authorized
Newspaper (as defined below) in The City of New York, and Western Europe.
"Authorized Newspaper" means a newspaper (which, in the case of The City of New
York, will, if practicable, be The Wall Street Journal (Eastern Edition) and, in
the case of Western Europe, will, if practicable, be the Financial Times (London
Edition)) published in an official language of the country of publication
customarily published at least once a day for at least five days in each
calendar week and of general circulation in The City of New York, and Western
Europe, as applicable. If it shall be impractical in the opinion of the Warrant
Agent to make any publication of any notice required hereby in an Authorized
Newspaper, any publication or other notice in lieu thereof that is made or given
with the approval of the Warrant Agent shall constitute a sufficient publication
of such notice.
Section 6.05. OBTAINING OF APPROVALS. The Company will from time to
time take all action that may be necessary to obtain and keep effective any and
all filings or notices under applicable law, which may be or become required in
connection with the issuance, sale, trading, transfer or delivery of the Warrant
Certificates or the exercise of the Universal Warrants.
Section 6.06. PERSONS HAVING RIGHTS UNDER THIS AGREEMENT. Nothing in
this Agreement expressed or implied and nothing that may be inferred from any of
the provisions hereof is intended, or shall be construed, to confer upon, or
give to, any person or corporation other than the Company, the Warrant Agent and
the Warrantholders any right, remedy or claim under or by reason of this
Agreement or of any covenant, condition, stipulation, promise or agreement
hereof, and all covenants, conditions, stipulations, promises and agreements
contained in this Agreement shall be for the sole and exclusive benefit of the
Company, the Warrant Agent, their respective successors and the Warrantholders.
Section 6.07. INSPECTION OF AGREEMENT. A copy of this Agreement
shall be available at all reasonable times at the Warrant Agent's Office for
inspection by the Warrantholders, participants of the Depositary certified as
such by the Depositary or any person certified by any such participant to be an
indirect participant of the Depositary or any person certified by any such
participant to be a beneficial owner of a Universal Warrant, in each case, on
behalf of whom such participant holds Universal Warrants.
20
Section 6.08. OFFICER'S CERTIFICATES AND OPINIONS OF COUNSEL;
STATEMENTS TO BE CONTAINED THEREIN. (a) Each certificate or opinion provided for
in this Agreement and delivered to the Warrant Agent with respect to compliance
with a condition or covenant provided for in this Agreement shall include (i) a
statement that the person making such certificate or opinion has read such
covenant or condition, (ii) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in
such certificate or opinion are based, (iii) a statement that, in the opinion of
such person, such person has made such examination or investigation as is
necessary to enable such person to express an informed opinion as to whether or
not such covenant or condition has been complied with and (iv) a statement as to
whether or not, in the opinion of such person, such condition or covenant has
been complied with.
(b) Any certificate, statement or opinion of an officer of the Company may
be based, insofar as it relates to legal matters, upon a certificate or opinion
of or representations by counsel, unless such officer knows that the certificate
or opinion or representations with respect to the matters upon which such
officer's certificate, statement or opinion may be based as aforesaid are
erroneous, or in the exercise of reasonable care should know that the same are
erroneous. Any certificate, statement or opinion of counsel may be based,
insofar as it relates to factual matters, information with respect to which is
in the possession of the Company, upon the certificate, statement or opinion of
or representations by an officer or officers of the Company, unless such counsel
knows that the certificate, statement or opinion or representations with respect
to the matters upon which such officer's certificate, statement or opinion may
be based as aforesaid are erroneous, or in the exercise of reasonable care
should know that the same are erroneous.
(c) Any certificate, statement or opinion of an officer of the Company or
of counsel may be based, insofar as it relates to accounting matters, upon a
certificate or opinion of or representations by an accountant or firm of
accountants in the employ of the Company, unless such officer or counsel, as the
case may be, knows that the certificate or opinion or representations with
respect to the accounting matters upon which such officer's or counsel's, as the
case may be, certificate, statement or opinion may be based as aforesaid are
erroneous, or in the exercise of reasonable care should know that the same are
erroneous. Any certificate or opinion of any independent firm of public
accountants filed with and directed to the Warrant Agent shall contain a
statement that such firm is independent.
Section 6.09. PAYMENTS DUE ON SATURDAYS, SUNDAYS AND HOLIDAYS. If
the date fixed for any payment with respect to the Universal Warrants of any
series appertaining thereto shall not be a Business Day (as defined below), then
such payment need not be made on such date, but may be made on the next
succeeding Business Day with same force and effect as if made on the date fixed,
and no interest shall accrue for the period after such date. "Business Day"
means, with respect to any Universal Warrant, a Business Day as established
pursuant to Section 1.03 hereof or if the term Business Day is not so specified,
Business Day means any day that is not a Saturday or Sunday or a legal holiday
in The City of New York or a day on which banking institutions in The City of
New York are authorized or required by law, regulation or executive order to be
closed.
21
Section 6.10. JUDGMENT CURRENCY. The Company agrees, to the fullest
extent that it may effectively do so under applicable law, that (a) if for the
purpose of obtaining judgment in any court it is necessary to convert the sum
due in respect of the Universal Warrants of any series (the "Required Currency")
into a currency in which a judgment will be rendered (the "Judgment Currency"),
the rate of exchange used shall be the rate at which in accordance with normal
banking procedures the Warrant Agent could purchase in The City of New York the
Required Currency with the Judgment Currency on the day on which final
unappealable judgment is entered, unless such day is not a New York Banking Day
(as defined below), in which event, to the extent permitted by applicable law,
the rate of exchange used shall be the rate at which in accordance with normal
banking procedures the Warrant Agent could purchase in The City of New York the
Required Currency with the Judgment Currency on the last New York Banking Day
preceding the day on which final unappealable judgment is entered and (b) its
obligations under this Agreement and the terms of the Universal Warrants of such
series to make payments in the Required Currency (i) shall not be discharged or
satisfied by any tender, or any recovery pursuant to any judgment (whether or
not entered in accordance with clause 6.10(a)), in any currency other than the
Required Currency, except to the extent that such tender or recovery shall
result in the actual receipt, by the payee, of the full amount of the Required
Currency expressed to be payable in respect of such payments, (ii) shall be
enforceable as an alternative or additional cause of action for the purpose of
recovering in the Required Currency so expressed to be payable and (iii) shall
not be affected by judgment being obtained for any other sum due under this
Agreement. For purposes of the foregoing, "New York Banking Day" means any day
except a Saturday, Sunday or a legal holiday in The City of New York or a day on
which banking institutions in The City of New York are authorized or required by
law or executive order to close.
Section 6.11. HEADINGS. The descriptive headings of the several
Articles and Sections of this Agreement are inserted for convenience only and
shall not control or affect the meaning or construction of any of the provisions
hereof.
Section 6.12. COUNTERPARTS. This Agreement may be executed in any
number of counterparts, each of which so executed shall be deemed to be an
original; but such counterparts shall together constitute but one and the same
instrument.
Section 6.13. APPLICABLE LAW. This Agreement and each Universal
Warrant shall be deemed to be a contract under the laws of the State of New
York, and for all purposes shall be construed in accordance with the laws of
said State, excluding choice of law provisions.
22
IN WITNESS WHEREOF, this Agreement has been duly executed by the
parties hereto as of the day and year first above written.
CREDIT SUISSE FIRST BOSTON (USA), INC.
[SEAL] By:
---------------------------------------
Name:
Title:
Attest:
By:
-------------------------------
Name:
Title:
[WARRANT AGENT]
[SEAL] By:
---------------------------------------
Name:
Title:
Attest:
By:
-------------------------------
Name:
Title:
23
EXHIBIT A
FORM OF REGISTERED CALL WARRANT CERTIFICATE
[FACE OF REGISTERED CALL WARRANT CERTIFICATE]
No. _____ CUSIP No. __________
[Unless and until it is exchanged in whole or in part for Universal
Warrants in definitive registered form, this Warrant Certificate and the
Universal Warrants evidenced hereby may not be transferred except as a whole by
the Depositary to the nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary.]
CREDIT SUISSE FIRST BOSTON (USA), INC.
[Designation of Universal Warrants]
NUMBER OF WARRANTS EVIDENCED BY THIS CERTIFICATE: [UP TO _____]
WARRANT PROPERTY:
AMOUNT OF WARRANT PROPERTY PURCHASABLE PER WARRANT:
CALL PRICE PER WARRANT:
FORM OF PAYMENT OF CALL PRICE:
FORM OF SETTLEMENT:
DATES OF EXERCISE:
OTHER TERMS:
This Warrant Certificate certifies that __________, or registered
assigns, is the Registered Holder of the number of [Designation of Universal
Warrants] (the "Warrants") [specified above] [specified on Schedule A hereto].
Upon receipt by the Warrant Agent of this Warrant Certificate, the exercise
notice on the reverse hereof (or an exercise notice in substantially identical
form delivered herewith) (the "Exercise Notice"), duly completed and executed,
and the Call Price per Warrant set forth above, in the form set forth above, for
each Warrant to be exercised (the "Exercise Property") at the Warrant Agent's
Window, Attention: Tender Department, in the Borough of Manhattan, The City of
New York, each Warrant evidenced hereby entitles the Registered Holder hereof to
receive, subject to the terms and conditions set forth herein and in the Warrant
Agreement (as defined below), from Credit Suisse First Boston (USA), Inc. (the
"Company") the amount and form of property (the "Warrant Property") specified
above. Warrants will not entitle the Warrantholder to any of the rights of the
holders of any of the Warrant Property.
A-1
Reference is hereby made to the further provisions of this Warrant
Certificate set forth on the reverse hereof, and such further provisions shall
for all purposes have the same effect as though fully set forth in this place.
This Warrant Certificate shall not be valid unless countersigned by
the Warrant Agent.
A-2
IN WITNESS WHEREOF, Credit Suisse First Boston (USA), Inc. has
caused this instrument to be duly executed.
Dated as of ______________
CREDIT SUISSE FIRST BOSTON (USA), INC.
By:
---------------------------------------
Name:
Title:
Attest:
By:
-------------------------------
Name:
Title:
Countersigned:
----------------------------------,
as Warrant Agent
By:
-------------------------------
Authorized Signatory
A-3
[REVERSE OF REGISTERED CALL WARRANT CERTIFICATE]
CREDIT SUISSE FIRST BOSTON (USA), INC.
The Warrants evidenced by this Warrant Certificate are part of a
duly authorized issue of Universal Warrants issued by the Company pursuant to a
Universal Warrant Agreement, dated as of ___________, _____ (the "Warrant
Agreement"), between the Company and [____________________] (the "Warrant
Agent") and are subject to the terms and provisions contained in the Warrant
Agreement, to all of which terms and provisions each Warrantholder consents by
acceptance of this Warrant Certificate or a beneficial interest therein and
which Warrant Agreement is hereby incorporated by reference in and made a part
of this Warrant Certificate. Without limiting the foregoing, all capitalized
terms used herein and not otherwise defined shall have the meanings set forth in
the Warrant Agreement. A copy of the Warrant Agreement is on file at the Warrant
Agent's Office. The Warrants constitute a separate series of Universal Warrants
under the Warrant Agreement.
The Warrants are unsecured contractual obligations of the Company
and rank pari passu with the Company's other unsecured contractual obligations
and with the Company's unsecured and unsubordinated debt.
Subject to the provisions hereof and the Warrant Agreement, each
Warrant may be exercised during the dates of exercise set forth on the face
hereof by delivering or causing to be delivered this Warrant Certificate, the
Exercise Notice, duly completed and executed, and the Exercise Property for each
such Warrant to the Warrant Agent's Window, in the Borough of Manhattan, The
City of New York, which is, on the date hereof (unless otherwise specified
herein), [__________________________________________, Attention:
_________________,] or at such other address as the Warrant Agent may specify
from time to time.
Each Warrant entitles the Warrantholder to receive, upon exercise,
the Warrant Property set forth on the face hereof.
The Warrant Agreement and the terms of the Warrants are subject to
amendment as provided in the Warrant Agreement.
This Warrant Certificate shall be governed by, and interpreted in
accordance with, the laws of the State of New York.
A-4
[Designation of Universal Warrants]
Exercise Notice
[Warrant Agent
Name and Address]
Attention: [________________]
The undersigned (the "Registered Holder") hereby irrevocably
exercises _______ Warrants (the "Exercised Warrants") and delivers to you
herewith a Warrant Certificate or Certificates, registered in the Registered
Holder's name, representing a number of Warrants at least equal to the number of
Exercised Warrants, and the Exercise Property with respect thereto.
The Registered Holder hereby directs the Warrant Agent (a) to
deliver the Warrant Property as follows: and (b) if the number of Exercised
Warrants is less than the number of Warrants represented by the enclosed Warrant
Certificate, to deliver a Warrant Certificate representing the unexercised
Warrants to:
Dated:
--------------------------------------
(Registered Holder)
By:
---------------------------------
Authorized Signatory
Address:
Telephone:
A-5
[If Warrant is a Global Warrant, insert this Schedule A.]
SCHEDULE A
[Designation of Universal Warrants]
GLOBAL UNIVERSAL WARRANT
SCHEDULE OF EXCHANGES
The initial number of Universal Warrants represented by this Global
Universal Warrant is __________. In accordance with the Universal Warrant
Agreement dated as of ________, 20__ between the Issuer and
_______________________, as Warrant Agent, the following reductions as a result
of the exercise of the number of Universal Warrants indicated below have been
made:
Reduced Number
Number of Outstanding Notation Made
Date of Exchange Universal Following Such by or on Behalf
of Excise Warrants Exercised Exercise of Warrant Agent
A-6
EXHIBIT B
FORM OF REGISTERED PUT WARRANT CERTIFICATE
[FACE OF REGISTERED PUT WARRANT CERTIFICATE]
No. _____ CUSIP No. __________
[Unless and until it is exchanged in whole or in part for Universal
Warrants in definitive registered form, this Warrant Certificate and the
Universal Warrants evidenced hereby may not be transferred except as a whole by
the Depositary to the nominee of the Depositary or by a nominee of the
Depositary to the Depositary or another nominee of the Depositary or by the
Depositary or any such nominee to a successor Depositary or a nominee of such
successor Depositary.]
CREDIT SUISSE FIRST BOSTON (USA), INC.
[Designation of Universal Warrants]
NUMBER OF WARRANTS EVIDENCED BY THIS CERTIFICATE: [UP TO ____]
CASH SETTLEMENT VALUE PER WARRANT (OR METHOD OF DETERMINING SAME):
[WARRANT PROPERTY:]
[AMOUNT OF WARRANT PROPERTY SALABLE PER WARRANT:]
[PUT PRICE FOR SUCH SPECIFIED AMOUNT OF WARRANT PROPERTY PER WARRANT:]
[METHOD OF DELIVERY OF ANY WARRANT PROPERTY TO BE DELIVERED FOR SALE UPON
EXERCISE OF WARRANTS:]
DATES OF EXERCISE:
OTHER TERMS:
This Warrant Certificate certifies that __________, or registered
assigns, is the Registered Holder of the number of [Designation of Universal
Warrants] (the "Warrants") [specified above] [specified on Schedule A hereto].
Upon receipt by the Warrant Agent of this Warrant Certificate, the exercise
notice on the reverse hereof (or an exercise notice in substantially identical
form delivered herewith)(the "Exercise Notice"), duly completed and executed,
and the Amount of Warrant Property saleable per Warrant set forth above,
adjusted, if applicable, as set forth above, for each Warrant to be exercised,
delivered as set forth above at the Warrant Agent's Window, Attention:
_________________, in the Borough of Manhattan, The City of New York (which is,
on the date hereof, _________________________________,
B-1
Attention: ____________________), each Warrant evidenced hereby entitles the
Registered Holder hereof to receive, subject to the terms and conditions set
forth herein and in the Warrant Agreement (as defined below), from Credit Suisse
First Boston (USA), Inc. (the "Company") the [Cash Settlement Value][Put Price]
per Warrant specified above.
Unless otherwise indicated above, a Warrant will not require or
entitle a Warrantholder to sell or deliver to the Company, nor will the Company
be under any obligation to, nor will it, purchase or take delivery from any
Warrantholder of, any Warrant Property, and upon exercise of a Warrant, the
Company will make only a cash payment in the amount of the Cash Settlement Value
or Put Price per Warrant. Warrantholders will not receive any interest on any
Cash Settlement Value.
Reference is hereby made to the further provisions of this Warrant
Certificate set forth on the reverse hereof and such further provisions shall
for all purposes have the same effect as though fully set forth in this place.
This Warrant Certificate shall not be valid unless countersigned by
the Warrant Agent.
B-2
IN WITNESS WHEREOF, Credit Suisse First Boston (USA), Inc. has
caused this instrument to be duly executed.
Dated as of ______________
CREDIT SUISSE FIRST BOSTON (USA), INC.
By:
---------------------------------------
Name:
Title:
Attest:
By:
-------------------------------
Name:
Title:
Countersigned:
----------------------------------,
as Warrant Agent
By:
-------------------------------
Authorized Signatory
B-3
[REVERSE OF REGISTERED PUT WARRANT CERTIFICATE]
CREDIT SUISSE FIRST BOSTON (USA), INC.
The Warrants evidenced by this Warrant Certificate are part of a
duly authorized issue of Universal Warrants issued by the Company pursuant to a
Universal Warrant Agreement, dated as of ___________, ___ (the "Universal
Warrant Agreement"), between the Company and [_________________] (the "Warrant
Agent") and are subject to the terms and provisions contained in the Universal
Warrant Agreement, to all of which terms and provisions each Warrantholder
consents by acceptance of this Warrant Certificate or a beneficial interest
therein and which Universal Warrant Agreement is hereby incorporated by
reference in and made a part of this Warrant Certificate. Without limiting the
foregoing, all capitalized terms used herein and not otherwise defined shall
have the meanings set forth in the Universal Warrant Agreement. A copy of the
Universal Warrant Agreement is on file at the Warrant Agent's Office. The
Warrants constitute a separate series of Universal Warrants under the Universal
Warrant Agreement.
The Warrants are unsecured contractual obligations of the Company
and rank pari passu with the Company's other unsecured contractual obligations
and with the Company's unsecured and unsubordinated debt.
The Warrant Agreement and the terms of the Warrants are subject to
amendment as provided in the Universal Warrant Agreement.
This Warrant Certificate shall be governed by, and interpreted in
accordance with, the laws of the State of New York.
B-4
[Designation of Universal Warrants]
Exercise Notice
[Warrant Agent
Name & Address]
Attention: [__________________]
The undersigned (the "Registered Holder") hereby irrevocably
exercises __________ Warrants (the "Exercised Warrants") and delivers to you
herewith a Warrant Certificate or Certificates, registered in the Registered
Holder's name, representing a number of Warrants at least equal to the number of
Exercised Warrants[, and the Warrant Property with respect thereto].
The Registered Holder hereby directs the Warrant Agent (a) to
deliver the [Cash Settlement Value][Put Price]* per Warrant as follows:
and (b) if the number of Exercised Warrants is less than the number
of Warrants represented by the enclosed Warrant Certificate, to deliver a
Warrant Certificate representing the unexercised Warrants to:
Dated:
-------------------------------------------
(Registered Holder)
By:
--------------------------------------
Authorized Signatory
Address:
Telephone:
B-5
[If Warrant is a Global Warrant, insert this Schedule A.]
[Designation of Universal Warrants]
SCHEDULE A
GLOBAL UNIVERSAL WARRANT
SCHEDULE OF EXCHANGES
The initial number of Universal Warrants represented by this Global
Universal Warrant is __________. In accordance with the Universal Warrant
Agreement dated as of ________, 20__ between the Issuer and
_______________________, as Warrant Agent [as Collateral Agent], the following
reductions as a result of the exercise of the number of Universal Warrants
indicated below have been made:
Reduced Number
Number of Outstanding Notation Made
Date of Exchange Universal Following Such by or on Behalf
of Excise Warrants Exercised Exercise of Warrant Agent
B-6