TRUST INDENTURE | INDENTURE SECTION | |||||
ACT SECTION | ||||||
310 | (a)(1) | 7.10 | ||||
(a)(2) | 7.10 | |||||
(a)(3) | N.A. | |||||
(a)(4) | N.A. | |||||
(a)(5) | 7.10 | |||||
(b) | 7.10 | |||||
(c) | N.A. | |||||
311 | (a) | 7.11 | ||||
(b) | 7.11 | |||||
(c) | N.A. | |||||
312 | (a) | 2.06 | ||||
(b) | 12.03 | |||||
(c) | 12.03 | |||||
313 | (a) | 7.06 (a) | ||||
(b)(1) | N.A. | |||||
(b)(2) | 7.06( a) | |||||
(c) | 7.06(a), 12.02 | |||||
(d) | 7.06 (b) | |||||
314 | (a) | 4.04 (b) | ||||
(a)(4) | 12.05 (a) | |||||
(b) | N.A. | |||||
(c)(1) | N.A. | |||||
(c)(2) | N.A. | |||||
(c)(3) | N.A. | |||||
(d) | N.A. | |||||
(e) | 12.05 (a) | |||||
(f) | N.A. | |||||
315 | (a) | N.A. | ||||
(b) | N.A. | |||||
(c) | N.A. | |||||
(d) | N.A. | |||||
(e) | N.A. | |||||
316 | (a)(last sentence) | N.A. | ||||
(a)(1)(A) | N.A. | |||||
(a)(1)(B) | 6.04 | |||||
(a)(2) | N.A. | |||||
(b) | N.A. | |||||
(c) | 12.14 (d) | |||||
317 | (a)(1) | N.A. | ||||
(a)(2) | N.A. | |||||
(b) | N.A. | |||||
318 | (a) | N.A. |
i
TRUST INDENTURE | INDENTURE SECTION | |||||
ACT SECTION | ||||||
(b) | N.A. | |||||
(c) | 12.10 |
N.A. means not applicable. | ||
* | This Cross-Reference Table is not part of the Indenture. |
ii
CROSS-REFERENCE TABLE | i | |||
ARTICLE ONE DEFINITIONS AND INCORPORATION BY REFERENCE | 1 | |||
Section 1.01. Definitions | 1 | |||
Section 1.02. Other Definitions | 32 | |||
Section 1.03. Incorporation by Reference of Trust Indenture Act | 33 | |||
Section 1.04. Rules of Construction | 33 | |||
ARTICLE TWO THE NOTES | 33 | |||
Section 2.01. Form and Dating | 33 | |||
Section 2.02. Execution and Authentication | 35 | |||
Section 2.03. Methods of Receiving Payments on the Notes | 36 | |||
Section 2.04. Registrar and Paying Agent | 36 | |||
Section 2.05. Paying Agent to Hold Money in Trust | 36 | |||
Section 2.06. Holder Lists | 37 | |||
Section 2.07. Transfer and Exchange | 37 | |||
Section 2.08. Replacement Notes | 52 | |||
Section 2.09. Outstanding Notes | 52 | |||
Section 2.10. Treasury Notes | 52 | |||
Section 2.11. Temporary Notes | 53 | |||
Section 2.12. Cancellation | 53 | |||
Section 2.13. Defaulted Interest | 53 | |||
Section 2.14. CUSIP Numbers | 53 | |||
Section 2.15. Additional Interest | 54 | |||
Section 2.16. Issuance of Additional Notes | 54 | |||
ARTICLE THREE REDEMPTION AND PREPAYMENT | 54 | |||
Section 3.01. Notices to Trustee | 54 | |||
Section 3.02. Selection of Notes to Be Redeemed | 55 | |||
Section 3.03. Notice of Redemption | 55 | |||
Section 3.04. Effect of Notice of Redemption | 56 | |||
Section 3.05. Deposit of Redemption Price | 56 | |||
Section 3.06. Notes Redeemed in Part | 57 | |||
Section 3.07. Optional Redemption | 57 | |||
Section 3.08. Mandatory Redemption | 57 | |||
Section 3.09. Application of Trust Money | 58 | |||
ARTICLE FOUR COVENANTS | 58 | |||
Section 4.01. Payment of Notes | 58 | |||
Section 4.02. Maintenance of Office or Agency | 58 |
iii
Section 4.03. Reports | 59 | |||
Section 4.04. Compliance Certificate | 59 | |||
Section 4.05. Taxes | 60 | |||
Section 4.06. Stay, Extension and Usury Laws | 60 | |||
Section 4.07. Incurrence of Indebtedness and Issuance of Disqualified Stock | 60 | |||
Section 4.08. Restricted Payments | 63 | |||
Section 4.09. Transactions with Affiliates | 67 | |||
Section 4.10. Liens | 68 | |||
Section 4.11. Asset Sales | 69 | |||
Section 4.12. Issuances of Guarantees by Restricted Subsidiaries | 72 | |||
Section 4.13. Limitation on Issuances and Sales of Preferred Stock of Restricted Subsidiaries | 73 | |||
Section 4.14. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries | 73 | |||
Section 4.15. Sale Leaseback Transactions | 75 | |||
Section 4.16. Lines of Business | 76 | |||
Section 4.17. Restrictions on Limited Partners | 76 | |||
Section 4.18. Unrestricted Subsidiaries | 76 | |||
Section 4.19. Payments for Consent | 78 | |||
Section 4.20. Offer to Repurchase upon a Change of Control | 78 | |||
Section 4.21. Corporate Existence | 80 | |||
ARTICLE FIVE SUCCESSORS | 81 | |||
Section 5.01. Consolidation, Merger and Sale of Assets | 81 | |||
ARTICLE SIX DEFAULTS AND REMEDIES | 83 | |||
Section 6.01. Events of Default | 83 | |||
Section 6.02. Acceleration | 85 | |||
Section 6.03. Other Remedies | 86 | |||
Section 6.04. Waiver of Past Defaults | 86 | |||
Section 6.05. Control by Majority | 87 | |||
Section 6.06. Limitation on Suits | 87 | |||
Section 6.07. Rights of Holders of Notes to Receive Payment | 87 | |||
Section 6.08. Collection Suit by Trustee | 88 | |||
Section 6.09. Trustee May File Proofs of Claim | 88 | |||
Section 6.10. Priorities | 88 | |||
Section 6.11. Undertaking for Costs | 89 | |||
ARTICLE SEVEN TRUSTEE | 89 | |||
Section 7.01. Duties of Trustee | 89 | |||
Section 7.02. Certain Rights of Trustee | 90 | |||
Section 7.03. Individual Rights of Trustee | 91 | |||
Section 7.04. Trustee’s Disclaimer | 91 | |||
Section 7.05. Notice of Default | 92 | |||
Section 7.06. Reports by Trustee to Holders of the Notes | 92 |
iv
Section 7.07. Compensation and Indemnity | 92 | |||
Section 7.08. Replacement of Trustee | 93 | |||
Section 7.09. Successor Trustee by Merger, Etc. | 94 | |||
Section 7.10. Eligibility; Disqualification | 94 | |||
Section 7.11. Preferential Collection of Claims Against Company | 94 | |||
ARTICLE EIGHT DEFEASANCE AND COVENANT DEFEASANCE | 95 | |||
Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance | 95 | |||
Section 8.02. Legal Defeasance and Discharge | 95 | |||
Section 8.03. Covenant Defeasance | 95 | |||
Section 8.04. Conditions to Legal Defeasance or Covenant Defeasance | 96 | |||
Section 8.05. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions | 97 | |||
Section 8.06. Repayment to the Company | 98 | |||
Section 8.07. Reinstatement | 98 | |||
ARTICLE NINE AMENDMENT, SUPPLEMENT AND WAIVER | 99 | |||
Section 9.01. Without Consent of Holders of Notes | 99 | |||
Section 9.02. With Consent of Holders of Notes | 100 | |||
Section 9.03. Compliance with Trust Indenture Act | 102 | |||
Section 9.04. Revocation and Effect of Consents | 102 | |||
Section 9.05. Notation on or Exchange of Notes | 102 | |||
Section 9.06. Trustee to Sign Amendments, Etc | 102 | |||
ARTICLE TEN GUARANTEES | 102 | |||
Section 10.01. Guarantee | 102 | |||
Section 10.02. Limitation on Guarantor Liability | 104 | |||
Section 10.03. Execution and Delivery of Guarantee | 104 | |||
Section 10.04. Releases of Guarantors | 105 | |||
ARTICLE ELEVEN SATISFACTION AND DISCHARGE | 106 | |||
Section 11.01. Satisfaction and Discharge | 106 | |||
Section 11.02. Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions | 107 | |||
Section 11.03. Repayment to the Company | 107 | |||
ARTICLE TWELVE MISCELLANEOUS | 107 | |||
Section 12.01. No Adverse Interpretation of Other Agreements | 107 | |||
Section 12.02. Notices | 108 | |||
Section 12.03. Communication by Holders of Notes with Other Holders of Notes | 109 | |||
Section 12.04. Certificate and Opinion as to Conditions Precedent | 109 | |||
Section 12.05. Statements Required in Certificate or Opinion | 109 |
v
Section 12.06. Rules by Trustee and Agents | 110 | |||
Section 12.07. No Personal Liability of Directors, Officers, Employees and Stockholders | 110 | |||
Section 12.08. Governing Law | 110 | |||
Section 12.09. Consent to Jurisdiction | 110 | |||
Section 12.10. Trust Indenture Act Controls | 110 | |||
Section 12.11. Successors | 111 | |||
Section 12.12. Severability | 111 | |||
Section 12.13. Counterpart Originals | 111 | |||
Section 12.14. Acts of Holders | 111 | |||
Section 12.15. Benefit of Indenture | 112 | |||
Section 12.16. Table of Contents, Headings, Etc. | 112 |
Exhibits: | ||
Exhibit A1 | FORM OF NOTE | |
Exhibit A2 | FORM OF REGULATION S TEMPORARY GLOBAL NOTE | |
Exhibit B | FORM OF CERTIFICATE OF TRANSFER | |
Exhibit C | FORM OF CERTIFICATE OF EXCHANGE | |
Exhibit D | FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR | |
Exhibit E | FORM OF NOTATION OF GUARANTEE | |
Exhibit F | FORM OF GUARANTOR SUPPLEMENTAL INDENTURE TO BE DELIVERED BY GUARANTORS | |
Exhibit G | FORM OF INTERCOMPANY NOTE |
vi
Definitions and Incorporation
by Reference
- 2 -
- 3 -
- 4 -
- 5 -
- 6 -
- 7 -
- 8 -
- 9 -
- 10 -
- 11 -
- 12 -
- 13 -
- 14 -
- 15 -
- 16 -
- 17 -
- 18 -
- 19 -
- 20 -
- 21 -
- 22 -
- 23 -
- 24 -
- 25 -
- 26 -
- 27 -
- 28 -
- 29 -
- 30 -
- 31 -
DEFINED | ||||
IN | ||||
TERM | SECTION | |||
“Act” | 12.14 | |||
“Asset Sale Purchase Date” | 4.11 | |||
“Authentication Order” | 2.02 | |||
“Change of Control Offer” | 4.21 | |||
“Change of Control Purchase Date” | 4.20 | |||
“Change of Control Purchase Notice” | 4.20 | |||
“Change of Control Purchase Price” | 4.20 | |||
“Covenant Defeasance” | 8.03 | |||
“Defeasance Redemption Date” | 8.04 | |||
“Designation” | 4.18 | |||
“Designation Amount” | 4.18 | |||
“DTC” | 2.01 | |||
“Event of Default” | 6.01 | |||
“Excess Proceeds” | 4.11 | |||
“Funds in Trust” | 8.04 | |||
“incur” | 4.07 | |||
“Legal Defeasance” | 8.02 | |||
“Paying Agent” | 2.04 | |||
“Permitted Consideration” | 4.11 | |||
“Permitted Debt” | 4.07 | |||
“Permitted Payment” | 4.08 | |||
“Prepayment Offer” | 4.11 | |||
“Prepayment Offer Notice” | 4.11 | |||
“Prepayment Offer Price” | 4.11 | |||
“Purchase Money Security Agreement” | 1.01 | |||
“Registrar” | 2.04 | |||
“Related Proceedings” | 12.09 |
- 32 -
DEFINED | ||||
IN | ||||
TERM | SECTION | |||
“Restricted Payments” | 4.08 | |||
“Revocation” | 4.18 | |||
“Specified Courts” | 12.09 | |||
“Surviving Entity” | 5.01 | |||
“Surviving Guarantor Entity” | 5.01 | |||
“Trustee” | 8.05 |
The Notes
- 33 -
- 34 -
- 35 -
- 36 -
- 37 -
- 38 -
- 39 -
- 40 -
- 41 -
- 42 -
- 43 -
- 44 -
- 45 -
- 46 -
- 47 -
- 48 -
- 49 -
- 50 -
- 51 -
- 52 -
- 53 -
Redemption and Prepayment
- 54 -
- 55 -
- 56 -
Year | Redemption Price | |||
2010 | 104.813 | % | ||
2011 | 102.406 | % | ||
2012 and thereafter | 100.00 | % |
- 57 -
Covenants
- 58 -
- 59 -
- 60 -
- 61 -
- 62 -
- 63 -
- 64 -
- 65 -
- 66 -
- 67 -
- 68 -
- 69 -
- 70 -
- 71 -
- 72 -
- 73 -
- 74 -
- 75 -
- 76 -
- 77 -
- 78 -
- 79 -
- 80 -
Successors
- 81 -
- 82 -
Defaults and Remedies
- 83 -
- 84 -
- 85 -
- 86 -
- 87 -
- 88 -
Trustee
- 89 -
- 90 -
- 91 -
- 92 -
- 93 -
- 94 -
Defeasance and Covenant Defeasance
- 95 -
- 96 -
- 97 -
- 98 -
Amendment, Supplement and Waiver
- 99 -
- 100 -
- 101 -
Guarantees
- 102 -
- 103 -
- 104 -
- 105 -
Satisfaction and Discharge
- 106 -
Miscellaneous
- 107 -
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
1700 Pacific Avenue, Suite 3300
Dallas, Texas 75201
Facsimile: (214) 969-1751
Attention: Joe Dannenmaier
Corporate Trust Services
Sixth & Marquette; N9303-120
Minneapolis, MN 55479
Facsimile: (612) 667-9825
Attention: Brigham Exploration Administrator
- 108 -
- 109 -
- 110 -
- 111 -
- 112 -
- 113 -
BRIGHAM EXPLORATION COMPANY, a Delaware corporation | ||||||
By: | /s/ Eugene B. Shepherd, Jr. | |||||
Name: Eugene B. Shepherd, Jr. | ||||||
Title: Executive Vice President and Chief | ||||||
Financial Officer | ||||||
BRIGHAM, INC., a Nevada corporation | ||||||
By: | /s/ Eugene B. Shepherd, Jr. | |||||
Name: Eugene B. Shepherd, Jr. | ||||||
Title: Chief Financial Officer | ||||||
BRIGHAM OIL & GAS, L.P., a Delaware limited partnership | ||||||
By: | BRIGHAM, INC., | |||||
Its managing general partner | ||||||
By: | /s/ Eugene B. Shepherd, Jr. | |||||
Name: Eugene B. Shepherd, Jr. | ||||||
Title: Chief Financial Officer |
- 114 -
WELLS FARGO BANK, N.A., as Trustee | ||||||
By: | /s/ Timothy P. Mowdy | |||||
Name: Timothy P. Mowdy | ||||||
Title: Vice President |
- 115 -
A1-1
A1-2
No. ___ | $ |
A1-3
BRIGHAM EXPLORATION COMPANY, a Delaware corporation | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
By: | ||||||
Name: | ||||||
Title: |
A1-4
WELLS FARGO BANK, N.A., as Trustee | ||||||
By: | ||||||
Authorized Signatory |
A1-5
† | For Additional Notes, insert the date of the Registration Rights Agreement for those Additional Notes. | |
* | Not to be included for Exchange Notes. | |
‡ | For Additional Notes, insert the appropriate interest payment date for those Additional Notes. | |
** | For Exchange Notes |
A1-6
Year | Redemption Price | |
2010 | 104.813% | |
2011 | 102.406% | |
2012 and thereafter | 100.000% |
* | Not to be included for Exchange Notes. |
A1-7
A1-8
* | Not to be included for Exchange Notes. |
A1-9
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
† | For Additional Notes, insert the date of the Registration Rights Agreement for those Additional Notes. | |
* | Not to be included for Exchange Notes. |
A1-10
(I) or (we) assign and transfer this Note to: | ||||
(Insert | ||
and irrevocably appoint | ||||
Your Signature: | ||||||
(Sign exactly as your name appears on the face of this Note) |
A1-11
Your Signature: | ||||||||
(Sign exactly as your name appears on the face of this Note) | ||||||||
Tax Identification No.: | ||||||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A1-12
Principal Amount | ||||||
Amount of Decrease | Amount of Increase | Maturity of this | ||||
in Principal Amount | in Principal Amount | Global Following | ||||
at Maturity of this | at Maturity of this | such Decrease (or | ||||
Date of Exchange | Global Note | Global Note | Increase) | |||
A1-13
A2-1
A2-2
No. ___ | $ |
A2-3
BRIGHAM EXPLORATION COMPANY, a Delaware corporation | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: |
A2-4
WELLS FARGO BANK, N.A., as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
A2-5
BRIGHAM EXPLORATION COMPANY
† | For Additional Notes, insert the date of the Registration Rights Agreement for those Additional Notes. | |
* | Not to be included for Exchange Notes. | |
‡ | For Additional Notes, insert the appropriate interest payment date for those Additional Notes. | |
** | For Exchange Notes |
A2-6
Year | Redemption Price | |
2010 | 104.813% | |
2011 | 102.406% | |
2012 and thereafter | 100.000% |
* | Not to be included for Exchange Notes. |
A2-7
A2-8
* | Not to be included for Exchange Notes. |
A2-9
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
† | For Additional Notes, insert the date of the Registration Rights Agreement for those Additional Notes. | |
* | Not to be included for Exchange Notes. |
A2-10
(I) or (we) assign and transfer this Note to: | ||||||
(Insert | ||||||
assignee’s soc. sec. or tax I.D. no.) | ||||||
or type assignee’s name, address and zip code) | ||||||
and irrevocably appoint | ||||||
Your Signature: | ||||||
(Sign exactly as your name appears on the face of this Note) |
A2-11
Your Signature: | ||||||
(Sign exactly as your name appears on the face of this Note) | ||||||
Tax Identification No.: | ||||||
A2-12
Principal Amount | ||||||
Amount of Decrease | Amount of Increase | Maturity of this | ||||
in Principal Amount | in Principal Amount | Global Following | ||||
at Maturity of this | at Maturity of this | such Decrease (or | ||||
Date of Exchange | Global Note | Global Note | Increase) | |||
A2-13
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
Corporate Trust Services
Sixth & Marquette; N9303-120
Minneapolis, MN 55479
Facsimile: (612) 667-9825
Attention: Brigham Exploration Administrator
B-1
B-2
B-3
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: |
B-4
1. | The Transferor owns and proposes to transfer the following: | |||||
[CHECK ONE OF (A) OR (B)] | ||||||
£ | (A) | a beneficial interest in the: | ||||
(i) 144A Global Note (CUSIP ); or | ||||||
(ii)Regulation S Global Note (CUSIP ); or | ||||||
(iii)IAI Global Note (CUSIP ); or | ||||||
£ | (B) | a Restricted Definitive Note. | ||||
2. | After the Transfer the Transferee will hold: | |||||
[CHECK ONE] | ||||||
£ | (A) | a beneficial interest in the: | ||||
(iv) 144A Global Note (CUSIP ); or | ||||||
(v) Regulation S Global Note (CUSIP ); or | ||||||
(vi)IAI Global Note (CUSIP ); or | ||||||
(vii)Unrestricted Global Note (CUSIP ); or | ||||||
£ | (B) | a Restricted Definitive Note; or | ||||
£ | (C) | an Unrestricted Definitive Note, |
B-5
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
Corporate Trust Services
Sixth & Marquette; N9303-120
Minneapolis, MN 55479
Facsimile: (612) 667-9825
Attention: Brigham Exploration Administrator
C-1
C-2
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: |
C-3
ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
6300 Bridge Point Parkway
Building Two, Suite 500
Austin, Texas 78730
Facsimile: (512) 427-3400
Attention: Warren J. Ludlow, General Counsel
Corporate Trust Services
Sixth & Marquette; N9303-120
Minneapolis, MN 55479
Facsimile: (612) 667-9825
Attention: Brigham Exploration Administrator
D-1
[Insert Name of Accredited Investor] | ||||
By: | ||||
Name: | ||||
Title: |
D-2
[Name of Guarantor] | ||||
By: | ||||
Name: | ||||
Title: |
E-1
TO BE DELIVERED BY GUARANTORS
F-1
F-2
BRIGHAM EXPLORATION COMPANY, a Delaware corporation | ||||||
By: | ||||||
Title: | ||||||
EACH GUARANTOR LISTED ON | ||||||
SCHEDULE A HERETO | ||||||
By: | ||||||
Title: | ||||||
EACH GUARANTOR LISTED ON | ||||||
SCHEDULE B HERETO | ||||||
By: | ||||||
Title: | ||||||
WELLS FARGO BANK, N.A., | ||||||
as Trustee | ||||||
By: | ||||||
F-3
TERMS OF INTERCOMPANY NOTE
EVENTS OF DEFAULT
G-1
MISCELLANEOUS
[NAME OF MAKER] | ||||||
By: | ||||||
G-2