as Trustee and Collateral Agent
TIA | Indenture | |||
Section | Section | |||
310(a)(1) | 7.10 | |||
(a)(2) | 7.10 | |||
(a)(3) | N.A. | |||
(a)(4) | N.A. | |||
(a)(5) | 7.08; 7.10 | |||
(b) | 7.08; 7.10; 12.02 | |||
(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; 10.02 | |||
(b)(1) | 7.06; 10.02 | |||
(b)(2) | 7.06 | |||
(c) | 7.06; 12.02 | |||
(d) | 7.06 | |||
314(a) | 4.06; 4.17 | |||
(b) | 10.02 | |||
(c)(1) | 7.02; 12.04; 12.05 | |||
(c)(2) | 7.02; 12.04; 12.05 | |||
(c)(3) | N.A. | |||
(d) | 10.02; 10.03; 10.05 | |||
(e) | 12.05 | |||
(f) | N.A. | |||
315(a) | 7.01(b) | |||
(b) | 7.05; 12.02 | |||
(c) | 7.01(a) | |||
(d) | 6.05; 7.01(c) | |||
(e) | 6.11 | |||
316(a)(last sentence) | 2.10 | |||
(a)(1)(A) | 6.05 | |||
(a)(1)(B) | 6.04 | |||
(a)(2) | 9.02 | |||
(b) | 6.07 | |||
(c) | 9.04 | |||
317(a)(1) | 6.08 | |||
(a)(2) | 6.09 | |||
(b) | 2.05 | |||
318(a) | 12.01 |
N.A. | means Not Applicable | |
Note: | This Cross-Reference Table shall not, for any purpose, be deemed to be a part of this Indenture. |
Page | ||||||
ARTICLE I | ||||||
DEFINITIONS AND INCORPORATION BY REFERENCE | ||||||
SECTION 1.01. | Definitions. | 1 | ||||
SECTION 1.02. | Other Definitions. | 32 | ||||
SECTION 1.03. | Incorporation by Reference of TIA. | 33 | ||||
SECTION 1.04. | Rules of Construction. | 34 | ||||
ARTICLE II | ||||||
THE NOTES | ||||||
SECTION 2.01. | Amount of Notes. | 34 | ||||
SECTION 2.02. | Form and Dating. | 35 | ||||
SECTION 2.03. | Execution and Authentication. | 35 | ||||
SECTION 2.04. | Registrar and Paying Agent. | 36 | ||||
SECTION 2.05. | Paying Agent To Hold Assets in Trust. | 37 | ||||
SECTION 2.06. | Holder Lists. | 37 | ||||
SECTION 2.07. | Transfer and Exchange. | 37 | ||||
SECTION 2.08. | Replacement Notes. | 38 | ||||
SECTION 2.09. | Outstanding Notes. | 38 | ||||
SECTION 2.10. | Treasury Notes. | 39 | ||||
SECTION 2.11. | Temporary Notes. | 39 | ||||
SECTION 2.12. | Cancellation. | 39 | ||||
SECTION 2.13. | Defaulted Interest. | 40 | ||||
SECTION 2.14. | CUSIP Number. | 40 | ||||
SECTION 2.15. | Deposit of Moneys. | 40 | ||||
SECTION 2.16. | Book-Entry Provisions for Global Notes. | 41 | ||||
SECTION 2.17. | Special Transfer Provisions. | 43 | ||||
SECTION 2.18. | Computation of Interest. | 45 | ||||
ARTICLE III | ||||||
REDEMPTION | ||||||
SECTION 3.01. | Notices to Trustee. | 45 | ||||
SECTION 3.02. | Selection of Notes To Be Redeemed. | 46 | ||||
SECTION 3.03. | Notice of Redemption. | 46 |
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SECTION 3.04. | RESERVED. | 47 | ||||
SECTION 3.05. | Effect of Notice of Redemption. | 47 | ||||
SECTION 3.06. | Deposit of Redemption Price. | 47 | ||||
SECTION 3.07. | Notes Redeemed in Part. | 48 | ||||
ARTICLE IV | ||||||
COVENANTS | ||||||
SECTION 4.01. | Payment of Notes. | 48 | ||||
SECTION 4.02. | Maintenance of Office or Agency. | 48 | ||||
SECTION 4.03. | Corporate Existence. | 49 | ||||
SECTION 4.04. | Payment of Taxes and Other Claims. | 49 | ||||
SECTION 4.05. | Maintenance of Properties and Insurance. | 49 | ||||
SECTION 4.06. | Compliance Certificate; Notice of Default. | 50 | ||||
SECTION 4.07. | RESERVED | 50 | ||||
SECTION 4.08. | Waiver of Stay, Extension or Usury Laws. | 50 | ||||
SECTION 4.09. | Change of Control. | 50 | ||||
SECTION 4.10. | Incurrence of Indebtedness and Issuance of Preferred Stock. | 52 | ||||
SECTION 4.11. | Limitation on Restricted Payments. | 57 | ||||
SECTION 4.12. | Limitation on Liens. | 62 | ||||
SECTION 4.13. | Asset Sales. | 63 | ||||
SECTION 4.14. | Limitation on Transactions with Affiliates. | 69 | ||||
SECTION 4.15. | Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. | 71 | ||||
SECTION 4.16. | Limitations on Issuances of Guarantees of Indebtedness. | 73 | ||||
SECTION 4.17. | Reports. | 73 | ||||
SECTION 4.18. | Payments for Consent. | 75 | ||||
SECTION 4.19. | RESERVED. | 75 | ||||
SECTION 4.20. | Additional Note Guarantees and Security for the Notes. | 75 | ||||
SECTION 4.21. | Designation of Restricted and Unrestricted Subsidiaries. | 75 | ||||
SECTION 4.22. | Business Activities. | 76 | ||||
SECTION 4.23. | Impairment of Security Interest. | 76 | ||||
SECTION 4.24. | After-Acquired Property. | 76 | ||||
SECTION 4.25. | Information Regarding Collateral. | 76 | ||||
SECTION 4.26. | Further Assurances. | 77 | ||||
ARTICLE V | ||||||
SUCCESSOR CORPORATION | ||||||
SECTION 5.01. | Merger, Consolidation, or Sale of Assets. | 77 |
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ARTICLE VI | ||||||
DEFAULT AND REMEDIES | ||||||
SECTION 6.01. | Events of Default. | 79 | ||||
SECTION 6.02. | Acceleration. | 82 | ||||
SECTION 6.03. | Other Remedies. | 82 | ||||
SECTION 6.04. | Waiver of Defaults. | 83 | ||||
SECTION 6.05. | Control by Majority | 83 | ||||
SECTION 6.06. | Limitation on Suits | 83 | ||||
SECTION 6.07. | Rights of Holders To Receive Payment. | 84 | ||||
SECTION 6.08. | Collection Suit by Trustee. | 84 | ||||
SECTION 6.09. | Trustee May File Proofs of Claim. | 84 | ||||
SECTION 6.10. | Priorities. | 85 | ||||
SECTION 6.11. | Undertaking for Costs. | 85 | ||||
ARTICLE VII | ||||||
TRUSTEE | ||||||
SECTION 7.01. | Duties of Trustee. | 85 | ||||
SECTION 7.02. | Rights of Trustee. | 87 | ||||
SECTION 7.03. | Individual Rights of Trustee. | 88 | ||||
SECTION 7.04. | Trustee’s Disclaimer. | 88 | ||||
SECTION 7.05. | Notice of Default. | 88 | ||||
SECTION 7.06. | Reports by Trustee to Holders. | 89 | ||||
SECTION 7.07. | Compensation and Indemnity. | 89 | ||||
SECTION 7.08. | Replacement of Trustee. | 90 | ||||
SECTION 7.09. | Successor Trustee by Merger, Etc. | 91 | ||||
SECTION 7.10. | Eligibility; Disqualification. | 91 | ||||
SECTION 7.11. | Preferential Collection of Claims Against the Issuer. | 92 | ||||
ARTICLE VIII | ||||||
DISCHARGE OF INDENTURE; DEFEASANCE | ||||||
SECTION 8.01. | Termination of the Issuer’s Obligations. | 92 | ||||
SECTION 8.02. | Legal Defeasance and Covenant Defeasance. | 93 | ||||
SECTION 8.03. | Conditions to Legal Defeasance or Covenant Defeasance. | 95 | ||||
SECTION 8.04. | Application of Trust Money. | 96 | ||||
SECTION 8.05. | Repayment to the Issuer. | 96 | ||||
SECTION 8.06. | Reinstatement. | 97 |
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ARTICLE IX | ||||||
AMENDMENTS, SUPPLEMENTS AND WAIVERS | ||||||
SECTION 9.01. | Without Consent of Holders. | 97 | ||||
SECTION 9.02. | With Consent of Holders. | 98 | ||||
SECTION 9.03. | Compliance with TIA. | 100 | ||||
SECTION 9.04. | Revocation and Effect of Consents. | 100 | ||||
SECTION 9.05. | Notation on or Exchange of Notes. | 101 | ||||
SECTION 9.06. | Trustee To Sign Amendments, Etc. | 101 | ||||
ARTICLE X | ||||||
SECURITY DOCUMENTS | ||||||
SECTION 10.01. | Collateral and Security Documents. | 101 | ||||
SECTION 10.02. | Recordings and Opinions. | 103 | ||||
SECTION 10.03. | Release of Collateral. | 104 | ||||
SECTION 10.04. | Permitted Releases Not To Impair Lien; Trust Indenture Act Requirements. | 105 | ||||
SECTION 10.05. | Certificates of the Trustee. | 105 | ||||
SECTION 10.06. | Suits To Protect the Collateral. | 105 | ||||
SECTION 10.07. | Authorization of Receipt of Funds by the Trustee Under the Security Documents. | 106 | ||||
SECTION 10.08. | Purchaser Protected. | 106 | ||||
SECTION 10.09. | Powers Exercisable by Receiver or Trustee. | 106 | ||||
SECTION 10.10. | Release Upon Termination of the Issuer’s Obligations. | 106 | ||||
SECTION 10.11. | Collateral Agent. | 107 | ||||
SECTION 10.12. | Designations. | 112 | ||||
ARTICLE XI | ||||||
GUARANTY OF NOTES | ||||||
SECTION 11.01. | Guaranty. | 112 | ||||
SECTION 11.02. | Execution Delivery of Note Guarantee. | 114 | ||||
SECTION 11.03. | Additional Guarantors. | 114 | ||||
SECTION 11.04. | Release of Guarantor. | 115 | ||||
SECTION 11.05. | Guarantors May Consolidate, etc., on Certain Terms. | 116 |
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ARTICLE XII | ||||||
MISCELLANEOUS | ||||||
SECTION 12.01. | TIA Controls. | 117 | ||||
SECTION 12.02. | Notices. | 117 | ||||
SECTION 12.03. | Communications by Holders with Other Holders. | 118 | ||||
SECTION 12.04. | Certificate and Opinion as to Conditions Precedent. | 119 | ||||
SECTION 12.05. | Statements Required in Certificate or Opinion. | 119 | ||||
SECTION 12.06. | Rules by Trustee, Paying Agent and Registrar. | 119 | ||||
SECTION 12.07. | Legal Holidays. | 120 | ||||
SECTION 12.08. | Governing Law. | 120 | ||||
SECTION 12.09. | No Adverse Interpretation of Other Agreements. | 120 | ||||
SECTION 12.10. | No Personal Liability of Directors, Officers, Employees and Stockholders. | 120 | ||||
SECTION 12.11. | Successors. | 120 | ||||
SECTION 12.12. | Duplicate Originals. | 120 | ||||
SECTION 12.13. | Severability. | 120 | ||||
SECTION 12.14. | Intercreditor Agreement Governs. | 121 | ||||
Signatures | S-1 |
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EXHIBITS | ||||||
Exhibit A | - | Form of Note | A-1 | |||
Exhibit B | - | Form of Legend for 144A Notes and Other Notes That Are Restricted Notes | B-1 | |||
Exhibit C | - | Form of Legend for Regulation S Note | C-1 | |||
Exhibit D | - | Form of Legend for Global Note | D-1 | |||
Exhibit E | - | Form of Certificate To Be Delivered in Connection with Transfers to Non-QIB Accredited Investors | E-1 | |||
Exhibit F | - | Form of Certificate To Be Delivered in Connection with Transfers Pursuant to Regulation S | F-1 | |||
Exhibit G | - | Form of Notation of Guarantee | G-1 | |||
Exhibit H | - | Form of Supplemental Indenture to be Delivered by Subsequent Guarantors | H-1 | |||
Note: This Table of Contents shall not, for any purpose, be deemed to be part of this Indenture. | ||||||
SCHEDULES | ||||||
Schedule I | - | Assets Under Contract | ||||
Schedule II | - | Existing Liens | ||||
Schedule III | - | Mortgaged Property |
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Term | Defined in Section | |||
“Additional Notes” | 2.01 | |||
“Affiliate Transaction” | 4.14 | |||
“Agent Members” | 2.16 | |||
“Asset Sale Offer” | 4.13 | |||
“Change of Control Offer” | 4.09 | |||
“Change of Control Payment” | 4.09 | |||
“Change of Control Payment Date” | 4.09 | |||
“Covenant Defeasance” | 8.02 | |||
“Event of Default” | 6.01 | |||
“Excess” | 4.13 |
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Term | Defined in Section | |||
“Excess Proceeds” | 4.13 | |||
“Excess Proceeds Payment” | 4.13 | |||
“Global Note” | 2.16 | |||
“incur” | 4.10 | |||
“Independent Financial Advisor” | 4.11 | |||
“Legal Defeasance” | 8.02 | |||
“Offer Payment Date” | 4.13 | |||
“Other Notes” | 2.02 | |||
“Payment Default” | 6.01 | |||
“Paying Agent” | 2.04 | |||
“Permitted Debt” | 4.10 | |||
“Physical Notes” | 2.02 | |||
“Registrar” | 2.04 | |||
“Regulation S Global Note” | 2.16 | |||
“Regulation S Notes” | 2.02 | |||
“Restricted Global Notes” | 2.16 | |||
“Restricted Payments” | 4.11 | |||
“Restricted Period” | 2.16 | |||
“Rule 144A Notes” | 2.02 |
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SECTION 4.15. | Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. |
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SECTION 10.07. | Authorization of Receipt of Funds by the Trustee Under the Security Documents. |
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50 Kennedy Plaza
Providence, RI 02903-2603
Attention: Almon C. Hall
Facsimile: (401) 751-9844
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One International Place
Boston, MA 02110
Attention: John B. Ayer, Esq.
Facsimile: (617) 951-7050
One Federal Street, 3rd Floor
Boston, MA 02110
Attention: Corporate Trust Services
Facsimile: (617) 603-6668
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NORTEK, INC. | ||||
By: | /s/ Kevin W. Donnelly | |||
Name: | Kevin W. Donnelly | |||
Title: | Vice President, General Counsel and Secretary | |||
ADVANCED BRIDGING TECHNOLOGIES, INC. AIGIS MECHTRONICS, INC. ALLSTAR PRO, LLC AUBREY MANUFACTURING, INC. BROAN-NUTONE LLC CES GROUP, INC. CLEANPAK INTERNATIONAL, INC. ELAN HOME SYSTEMS, L.L.C. GEFEN, INC. GOVERNAIR CORPORATION GTO, INC. HC INSTALLATIONS, INC. HOMELOGIC LLC HUNTAIR, INC. INTERNATIONAL ELECTRONICS, INC. J.A.R. INDUSTRIES, INC. JENSEN INDUSTRIES, INC. LINEAR H.K. LLC LINEAR LLC LITETOUCH, INC. MAGENTA RESEARCH, LTD. MAMMOTH, INC. MAMMOTH CHINA LTD. NILES AUDIO CORPORATION NORDYNE CHINA, LLC NORDYNE, INC. NORDYNE INTERNATIONAL, INC. NORTEK INTERNATIONAL, INC. NUTONE INC. OMNIMOUNT SYSTEMS, INC. OPERATOR SPECIALTY COMPANY, INC. PACIFIC ZEPHYR RANGE HOOD, INC. PANAMAX INC. RANGAIRE GP, INC. RANGAIRE LP, INC. RANGAIRE LP SECURE WIRELESS, INC. SPEAKERCRAFT, INC. TEMTROL, INC. WDS LLC WEBCO, INC. XANTECH CORPORATION ZEPHYR CORPORATION | ||||
By: | /s/ Kevin W. Donnelly | |||
Name: | Kevin W. Donnelly | |||
Title: | Vice President and Secretary (of entity listed or as an officer of the managing member, sole member or general partner) | |||
U.S. BANK NATIONAL ASSOCIATION, as Trustee and Collateral Agent | ||||
By: | /s/ Todd R. DiNezza | |||
Name: | Todd R. DiNezza | |||
Title: | Assistant Vice President | |||
10% Senior Secured Notes due 2013
No. | Principal Amount: $ |
A-1
NORTEK, INC. | ||||
By: | ||||
Name: | ||||
Title: |
A-2
U.S. BANK NATIONAL ASSOCIATION, as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
A-3
Nortek, Inc.
A-4
Year | Percentage | |||
2011 | 105.000 | % | ||
2012 | 102.500 | % | ||
2013 | 100.000 | % |
A-5
A-6
A-7
a | This Section not to appear on Exchange Notes. |
A-8
Date: | Your Signature: | |||||||||
Signature Guarantee: | ||||
A-9
Dated: | Signed: | |||||||||
Signature Guarantee: | ||||
A-10
AND OTHER NOTES THAT ARE RESTRICTED NOTES]
B-1
RESTRICTED NOTES]
Date: | Your Signature: | |||||||||
Signature Guarantee: | ||||
B-2
B-3
Dated: | ||||||||
B-4
C-1
Date: | Your Signature: | |||||||||
Signature Guarantee: | ||||
C-2
Dated: | ||||||||
C-3
D-1
Delivered in Connection with
Transfers to Non-QIB Accredited Investors
Corporate Trust Services
One Federal Street, 3rd Floor
Boston, MA 02110
Ladies and Gentlemen:
E-1
E-2
Very truly yours, [Name of Transferee] | ||||
By: | ||||
Name: | ||||
Title: | ||||
E-3
in Connection with Transfers
Pursuant to Regulation S
Corporate Trust Services
One Federal Street, 3rd Floor
Boston, MA 02110
Re: | Nortek, INC. (“the Issuer”) | |
10% Senior Secured Notes due 2013 (the “Notes”) |
F-1
Very truly yours, [Name of Transferor] | ||||
By: | ||||
Authorized Signature | ||||
F-2
G-1
[Name of Guarantor] | ||||
By: | ||||
Name: | ||||
Title: | ||||
G-2
TO BE DELIVERED BY SUBSEQUENT GUARANTORS]
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[Guaranteeing Subsidiary] | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: | ||||
U.S. BANK NATIONAL ASSOCIATION, as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
2. 2501 Boonslick Dr., Boonville, MO (Boonslick)
3. 115 E. Oklahoma Ave., Okarche, OK
4. 4841 N. Sewell, Oklahoma City, OK
5. 501 S. Wilhite, Cleburne, TX
6. 448 Richard Blvd., Tipton, MO
7. 3121 Hartsfield Road, Tallahassee, FL
8. 6709 S. Main St., Union, IL