(Successor by merger to ABI Escrow Corporation)
Trustee
and
Collateral Agent
Page | ||||
ARTICLE 1 | ||||
DEFINITIONS AND INCORPORATION BY REFERENCE | ||||
Section 1.01. Definitions | 1 | |||
Section 1.02. Other Definitions | 32 | |||
Section 1.03. Incorporation by Reference of Trust Indenture Act | 32 | |||
Section 1.04. Rules of Construction | 33 | |||
Section 1.05. Applicability of Terms Indenture | 33 | |||
ARTICLE 2 | ||||
THE NOTES | ||||
Section 2.01. Form and Dating | 33 | |||
Section 2.02. Execution and Authentication | 34 | |||
Section 2.03. Registrar and Paying Agent | 34 | |||
Section 2.04. Paying Agent to Hold Money in Trust | 35 | |||
Section 2.05. Holder Lists | 35 | |||
Section 2.06. Transfer and Exchange | 35 | |||
Section 2.07. Replacement Notes | 47 | |||
Section 2.08. Outstanding Notes | 48 | |||
Section 2.09. Treasury Notes | 48 | |||
Section 2.10. Temporary Notes | 48 | |||
Section 2.11. Cancellation | 48 | |||
Section 2.12. Defaulted Interest | 49 | |||
ARTICLE 3 | ||||
REDEMPTION | ||||
Section 3.01. Optional Redemption | 49 | |||
Section 3.02. Mandatory Redemption | 49 | |||
Section 3.03. Notices to Trustee | 49 | |||
Section 3.04. Selection of Notes to Be Redeemed | 49 | |||
Section 3.05. Notice of Redemption | 50 | |||
Section 3.06. Effect of Notice of Redemption | 51 | |||
Section 3.07. Deposit of Redemption Price | 51 | |||
Section 3.08. Notes Redeemed in Part | 51 | |||
ARTICLE 4 | ||||
COVENANTS | ||||
Section 4.01. Payment of Notes | 51 | |||
Section 4.02. Maintenance of Office or Agency | 52 | |||
Section 4.03. Reports | 52 | |||
Section 4.04. Compliance Certificate | 53 |
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Section 4.05. Taxes | 53 | |||
Section 4.06. Stay, Extension and Usury Laws | 53 | |||
Section 4.07. Restricted Payments | 54 | |||
Section 4.08. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries | 58 | |||
Section 4.09. Incurrence of Indebtedness and Issuance of Preferred Stock | 60 | |||
Section 4.10. Asset Sales | 65 | |||
Section 4.11. Transactions with Affiliates | 69 | |||
Section 4.12. Liens | 71 | |||
Section 4.13. Business Activities | 71 | |||
Section 4.14. Corporate Existence | 72 | |||
Section 4.15. Offer to Repurchase upon Change of Control | 72 | |||
Section 4.16. [Reserved] | 73 | |||
Section 4.17. Payments for Consent | 73 | |||
Section 4.18. Additional Note Guarantees | 74 | |||
Section 4.19. Designation of Restricted and Unrestricted Subsidiaries | 74 | |||
Section 4.20. Activities of Escrow Issuer | 75 | |||
ARTICLE 5 | ||||
SUCCESSORS | ||||
Section 5.01. Merger, Consolidation, or Sale of Assets | 75 | |||
Section 5.02. Successor Corporation Substituted | 76 | |||
ARTICLE 6 | ||||
DEFAULTS AND REMEDIES | ||||
Section 6.01. Events of Default | 76 | |||
Section 6.02. Acceleration | 79 | |||
Section 6.03. Other Remedies | 79 | |||
Section 6.04. Waiver of Past Defaults | 79 | |||
Section 6.05. Control by Majority | 79 | |||
Section 6.06. Limitation on Suits | 80 | |||
Section 6.07. Rights of Holders of Notes to Receive Payment | 80 | |||
Section 6.08. Collection Suit by Trustee | 80 | |||
Section 6.09. Trustee May File Proofs of Claim | 80 | |||
Section 6.10. Priorities | 81 | |||
Section 6.11. Undertaking for Costs | 81 | |||
ARTICLE 7 | ||||
TRUSTEE | ||||
Section 7.01. Duties of Trustee | 82 | |||
Section 7.02. Rights of Trustee | 83 | |||
Section 7.03. Individual Rights of Trustee | 84 | |||
Section 7.04. Trustee’s Disclaimer | 85 | |||
Section 7.05. Notice of Defaults | 85 | |||
Section 7.06. Reports by Trustee to Holders of the Notes | 85 | |||
Section 7.07. Compensation and Indemnity | 85 |
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Section 7.08. Replacement of Trustee | 86 | |||
Section 7.09. Successor Trustee by Merger, etc. | 87 | |||
Section 7.10. Eligibility; Disqualification | 87 | |||
Section 7.11. Preferential Collection of Claims Against the Issuer | 87 | |||
Section 7.12. Escrow Authorization | 87 | |||
ARTICLE 8 | ||||
LEGAL DEFEASANCE AND COVENANT DEFEASANCE | ||||
Section 8.01. Option to Effect Legal Defeasance or Covenant Defeasance | 88 | |||
Section 8.02. Legal Defeasance and Discharge | 88 | |||
Section 8.03. Covenant Defeasance | 88 | |||
Section 8.04. Conditions to Legal or Covenant Defeasance | 89 | |||
Section 8.05. Deposited Money and Government Securities to Be Held in Trust; Other Miscellaneous Provisions | 90 | |||
Section 8.06. Repayment to Issuer | 90 | |||
Section 8.07. Reinstatement | 91 | |||
ARTICLE 9 | ||||
AMENDMENT, SUPPLEMENT AND WAIVER | ||||
Section 9.01. Without Consent of Holders of Notes | 91 | |||
Section 9.02. With Consent of Holders of Notes | 92 | |||
Section 9.03. [Reserved] | 94 | |||
Section 9.04. Revocation and Effect of Consents | 94 | |||
Section 9.05. Notation on or Exchange of Notes | 94 | |||
Section 9.06. Trustee to Sign Amendments, etc. | 94 | |||
ARTICLE 10 | ||||
NOTE GUARANTEES | ||||
Section 10.01. Guarantee | 94 | |||
Section 10.02. Limitation on Guarantor Liability | 96 | |||
Section 10.03. Execution and Delivery of Note Guarantee | 96 | |||
Section 10.04. Guarantors May Consolidate, etc., on Certain Terms | 97 | |||
Section 10.05. Releases | 98 | |||
ARTICLE 11 | ||||
SATISFACTION AND DISCHARGE | ||||
Section 11.01. Satisfaction and Discharge | 98 | |||
Section 11.02. Application of Trust Money | 99 |
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ARTICLE 12 | ||||
INTERCREDITOR AGREEMENT | ||||
Section 12.01. Intercreditor Agreement | 99 | |||
ARTICLE 13 | ||||
COLLATERAL | ||||
Section 13.01. Security Documents | 100 | |||
Section 13.02. Collateral Agent | 100 | |||
Section 13.03. Authorization of Actions to Be Taken | 100 | |||
Section 13.04. Release of Collateral | 101 | |||
Section 13.05. [Reserved] | 102 | |||
Section 13.06. Powers Exercisable by Receiver or Trustee | 102 | |||
Section 13.07. Voting | 102 | |||
Section 13.08. Collateral Proceeds Account | 102 | |||
Section 13.09. Appointment and Authorization of Wells Fargo Bank as Collateral Agent | 104 | |||
ARTICLE 14 | ||||
MISCELLANEOUS | ||||
Section 14.01. [Reserved] | 104 | |||
Section 14.02. Notices | 104 | |||
Section 14.03. Communication by Holders of Notes with Other Holders of Notes | 105 | |||
Section 14.04. Certificate and Opinion as to Conditions Precedent | 106 | |||
Section 14.05. Statements Required in Certificate or Opinion | 106 | |||
Section 14.06. Rules by Trustee and Agents | 106 | |||
Section 14.07. No Personal Liability of Directors, Officers, Employees and Stockholders | 106 | |||
Section 14.08. Governing Law | 106 | |||
Section 14.09. No Adverse Interpretation of Other Agreements | 107 | |||
Section 14.10. Successors | 107 | |||
Section 14.11. Severability | 107 | |||
Section 14.12. Counterpart Originals | 107 | |||
Section 14.13. Table of Contents, Headings, etc. | 107 | |||
Section 14.14. Jurisdiction; Consent to Service of Process | 107 | |||
Section 14.15. Amendment and Restatement | 108 |
EXHIBITS | ||
Exhibit A | FORM OF 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 |
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Defined in | ||
Term | Section | |
“Affiliate Transaction” | 4.11 | |
“Authentication Order” | 2.02 | |
“Change of Control Offer” | 4.15 | |
“Change of Control Payment” | 4.15 | |
“Change of Control Payment Date” | 4.15 | |
“Covenant Defeasance” | 8.03 | |
“DTC” | 2.03 | |
“Escrow Issuer” | Recitals | |
“Event of Default” | 6.01 | |
“Excess Proceeds” | 4.10 | |
“incur” | 4.09 | |
“Legal Defeasance” | 8.02 | |
“Net Proceeds Offer” | 4.10 | |
“Offer Amount” | 4.10 | |
“Offer Period” | 4.10 | |
“Paying Agent” | 2.03 | |
“Payment Default” | 6.01 | |
“Permitted Debt” | 4.09 | |
“Purchase Date” | 4.10 | |
“Registrar” | 2.03 | |
“Restricted Payments” | 4.07 | |
“Trust Monies” | 13.08 |
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1155 Metcalfe Street, Suite 800
Montreal, Québec Canada H3B 5H2
Facsimile No.: (514) 394-3644
Attention: Chief Financial Officer
600 Peachtree Street, NE Suite 5200
Atlanta, Georgia 30308
Facsimile No.: (404) 962-6740
Attention: Marlon F. Starr, Esq.
Corporate Trust Services
7000 Central Parkway Suite 550
Atlanta, GA 30328
Facsimile No.: (770) 551-5118
Attention: Stefan Victory
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ABITIBIBOWATER INC., as the Issuer | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Senior Vice President, Chief Financial Officer, and Treasurer | |||
ABIBOW US INC., as a Guarantor | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Senior Vice President and Treasurer | |||
BOWATER NEWSPRINT SOUTH LLC, as a Guarantor | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Manager | |||
BOWATER NUWAY MID-STATES INC., as a Guarantor | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | President | |||
LAKE SUPERIOR FOREST PRODUCTS INC., as a Guarantor | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Vice President and Chief Financial Officer | |||
S-1
DONOHUE CORP., as a Guarantor | ||||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Vice President and Chief Financial Officer | |||
ABIBOW RECYCLING LLC, as a Guarantor | ||||
By: | AbitibiBowater Inc., its Sole Member | |||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Senior Vice President, Chief Financial Officer, and Treasurer | |||
ABITIBI CONSOLIDATED SALES LLC, as a Guarantor | ||||
By: | AbitibiBowater Inc., its Sole Member | |||
By: | /s/ William G. Harvey | |||
Name: | William G. Harvey | |||
Title: | Senior Vice President, Chief Financial Officer, and Treasurer | |||
S-2
WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee and Collateral Agent | ||||
By: | /s/ Stefan Victory | |||
Name: | Stefan Victory | |||
Title: | Vice President | |||
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A-1
ISIN: [ ]
10.25% Senior Secured Note due 2018
No. ___ | [$______________] |
A-2
ABI ESCROW CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
A-3
Wells Fargo Bank, National Association, as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
A-4
A-5
Redemption | ||||
Year | Price | |||
2014 | 105.125 | % | ||
2015 | 102.563 | % | ||
2016 and thereafter | 100.000 | % |
A-6
A-7
1155 Metcalfe Street, Suite 800
Montreal, Québec Canada H3B 5H2
Facsimile No.: (514) 394-3644
Attention: Chief Financial Officer
A-8
\
Your Signature: | ||||
(Sign exactly as your name appears on | ||||
the face of this Note) | ||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A-9
Your Signature: | ||||
(Sign exactly as your name appears on | ||||
the face of this Note) | ||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A-10
Amount of decrease | Amount of increase | Principal Amount of | Signature of | |||||
in Principal | in Principal | this Global Note | authorized officer | |||||
Date of | Amount of | Amount of this | following such | of Trustee or | ||||
Exchange | this Global Note | Global Note | decrease or increase | Custodian | ||||
* | This schedule should be included only if the Note is issued in global form. |
A-11
1155 Metcalfe Street, Suite 800
Montreal, Québec Canada H3B 5H2
Attention: Investor Relations
Corporate Trust Services
7000 Central Parkway, Suite 550
Atlanta, GA 30328
B-1
B-2
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: | ||||
B-3
1. | The Transferor owns and proposes to transfer the following: |
(a) | o a beneficial interest in the: |
(i) | o 144A Global Note (CUSIP ________), or | ||
(ii) | o Regulation S Global Note (CUSIP ______), or | ||
(iii) | o IAI Global Note (CUSIP _________); or |
(b) | o a Restricted Definitive Note. |
2. | o After the Transfer the Transferee will hold: |
(a) | o a beneficial interest in the: |
(i) | o 144A Global Note (CUSIP ________), or | ||
(ii) | o Regulation S Global Note (CUSIP ______), or | ||
(iii) | o IAI Global Note (CUSIP _________); or | ||
(iv) | o Unrestricted Global Note (CUSIP ________); or |
(b) | o a Restricted Definitive Note; or | ||
(c) | o an Unrestricted Definitive Note, |
in accordance with the terms of the Indenture. |
B-4
1155 Metcalfe Street, Suite 800
Montreal, Québec Canada H3B 5H2
Attention: Investor Relations.
Corporate Trust Services
7000 Central Parkway, Suite 550
Atlanta, GA 30328
(CUSIP _____)
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C-2
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: | ||||
C-3
ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR
1155 Metcalfe Street, Suite 800
Montreal, Québec Canada H3B 5H2
Facsimile No.: [(___) __-____]
Attention: Investor Relations.
Corporate Trust Services
7000 Central Parkway, Suite 550
Atlanta, GA 30328
D-1
[Insert Name of Accredited Investor] | ||||
By: | ||||
Name: | ||||
Title: | ||||
D-2
[NAME OF GUARANTOR(S)] | ||||
By: | ||||
Name: | ||||
Title: |
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