as Issuer
as Co-Issuer
as Trustee
Dated as of June 30, 2008
of 1939 and Indenture
Trust Indenture Act Section | Indenture Section | |||||
§ 310 | (a)(1) (a)(2) (a)(3) (a)(4) | 608 608 N.A. N.A. | ||||
(b) (c) | 608, 609 N.A. | |||||
§ 311 | (a) | 605 | ||||
(b) | 605 | |||||
(c) | N.A. | |||||
§ 312 | (a) | 701 | ||||
(b) | 702 | |||||
(c) | 702 | |||||
§ 313 | (a) (a)(4) (b)(1) (b)(2) (c)(1) (c)(2) | 703 1008 N.A. 703 102 102 | ||||
(d) | 703 | |||||
(e) | 102 | |||||
§ 314 | (a) | 1009 | ||||
(b) | N.A. | |||||
(c)(1) (c)(2) (c)(3) | 102 102 N.A. | |||||
(d) | N.A. | |||||
(e) | 102 | |||||
(f) | 1017 | |||||
§ 315 | (a) | 601 | ||||
(b) | 602 | |||||
(c) | 601 | |||||
(d) | 601 | |||||
(e) | 514 | |||||
§ 316 | (a)(last sentence) (a)(1)(A) (a)(1)(B) (a)(2) | 101 (“Outstanding”) 502, 512 513 N.A. | ||||
(b) | 508 | |||||
(c) | 104(d) | |||||
§ 317 | (a)(1) | 503 | ||||
(a)(2) | 504 | |||||
(b) | 1003 | |||||
§ 318 | (a) | 111 |
a | This reconciliation and tie shall not, for any purpose, be deemed to be a part of this Indenture. |
Page | ||||||
ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION | ||||||
SECTION 101. | Rules of Construction and Incorporation by Reference of Trust Indenture Act | 1 | ||||
SECTION 102. | Definitions | 3 | ||||
SECTION 103. | Compliance Certificates and Opinions | 42 | ||||
SECTION 104. | Form of Documents Delivered to Trustee | 43 | ||||
SECTION 105. | Acts of Holders | 43 | ||||
SECTION 106. | Notices, Etc., to Trustee, Company, Any Guarantor and Agent | 44 | ||||
SECTION 107. | Notice to Holders; Waiver | 45 | ||||
SECTION 108. | Effect of Headings and Table of Contents | 45 | ||||
SECTION 109. | Successors and Assigns | 45 | ||||
SECTION 110. | Separability Clause | 45 | ||||
SECTION 111. | Benefits of Indenture | 45 | ||||
SECTION 112. | Governing Law | 45 | ||||
SECTION 113. | Legal Holidays | 45 | ||||
SECTION 114. | No Personal Liability of Directors, Officers, Employees and Stockholders | 46 | ||||
SECTION 115. | Trust Indenture Act Controls | 46 | ||||
SECTION 116. | Counterparts | 46 | ||||
SECTION 117. | Regulatory Matters | 46 | ||||
SECTION 118. | Agent for Service; Submission to Jurisdictions; Waiver of Immunities; Waiver of Jury Trial | 47 | ||||
SECTION 119. | Conversion of Currency | 47 | ||||
ARTICLE TWO NOTE FORMS | ||||||
SECTION 201. | Form and Dating | 49 | ||||
SECTION 202. | Execution, Authentication, Delivery and Dating | 49 | ||||
ARTICLE THREE THE NOTES | ||||||
SECTION 301. | Title and Terms | 50 | ||||
SECTION 302. | Denominations | 51 | ||||
SECTION 303. | Temporary Notes | 51 | ||||
SECTION 304. | Registration, Registration of Transfer and Exchange | 51 | ||||
SECTION 305. | Mutilated, Destroyed, Lost and Stolen Notes | 52 | ||||
SECTION 306. | Payment of Interest; Interest Rights Preserved | 53 | ||||
SECTION 307. | Persons Deemed Owners | 55 |
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SECTION 308. | Cancellation | 55 | ||||
SECTION 309. | Computation of Interest | 55 | ||||
SECTION 310. | Transfer and Exchange | 55 | ||||
SECTION 311. | CUSIP Numbers | 55 | ||||
SECTION 312. | Issuance of Additional Notes | 56 | ||||
ARTICLE FOUR SATISFACTION AND DISCHARGE | ||||||
SECTION 401. | Satisfaction and Discharge of Indenture | 56 | ||||
SECTION 402. | Application of Trust Money | 57 | ||||
ARTICLE FIVE REMEDIES | ||||||
SECTION 501. | Events of Default | 58 | ||||
SECTION 502. | Acceleration of Maturity; Rescission and Annulment | 60 | ||||
SECTION 503. | Collection of Indebtedness and Suits for Enforcement by Trustee | 60 | ||||
SECTION 504. | Trustee May File Proofs of Claim | 61 | ||||
SECTION 505. | Trustee May Enforce Claims Without Possession of Notes | 62 | ||||
SECTION 506. | Application of Money Collected | 62 | ||||
SECTION 507. | Limitation on Suits | 62 | ||||
SECTION 508. | Unconditional Right of Holders to Receive Principal, Premium and Interest | 63 | ||||
SECTION 509. | Restoration of Rights and Remedies | 63 | ||||
SECTION 510. | Rights and Remedies Cumulative | 63 | ||||
SECTION 511. | Delay or Omission Not Waiver | 63 | ||||
SECTION 512. | Control by Holders | 64 | ||||
SECTION 513. | Waiver of Past Defaults | 64 | ||||
SECTION 514. | Waiver of Stay or Extension Laws | 64 | ||||
ARTICLE SIX THE TRUSTEE | ||||||
SECTION 601. | Duties of the Trustee | 64 | ||||
SECTION 602. | Notice of Defaults | 65 | ||||
SECTION 603. | Certain Rights of Trustee | 66 | ||||
SECTION 604. | Trustee Not Responsible for Recitals or Issuance of Notes | 67 | ||||
SECTION 605. | May Hold Notes | 67 | ||||
SECTION 606. | Money Held in Trust | 67 | ||||
SECTION 607. | Compensation and Reimbursement | 68 | ||||
SECTION 608. | Corporate Trustee Required; Eligibility | 68 | ||||
SECTION 609. | Resignation and Removal; Appointment of Successor | 69 | ||||
SECTION 610. | Acceptance of Appointment by Successor | 70 | ||||
SECTION 611. | Merger, Conversion, Consolidation or Succession to Business | 70 | ||||
SECTION 612. | Appointment of Authenticating Agent | 70 | ||||
SECTION 613. | Force Majeure | 71 |
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Page | ||||||
ARTICLE SEVEN HOLDERS LISTS AND REPORTS BY TRUSTEE AND COMPANY | ||||||
SECTION 701. | Company to Furnish Trustee Names and Addresses | 72 | ||||
SECTION 702. | Disclosure of Names and Addresses of Holders | 72 | ||||
SECTION 703. | Reports by Trustee | 72 | ||||
ARTICLE EIGHT MERGER, CONSOLIDATION OR SALE OF ALL OR SUBSTANTIALLY ALL ASSETS | ||||||
SECTION 801. | Company May Consolidate, Etc., Only on Certain Terms | 73 | ||||
SECTION 802. | Guarantors and Co-Issuers May Consolidate, Etc., Only on Certain Terms | 74 | ||||
SECTION 803. | Successor Substituted | 75 | ||||
ARTICLE NINE SUPPLEMENTAL INDENTURES | ||||||
SECTION 901. | Amendments or Supplements Without Consent of Holders | 76 | ||||
SECTION 902. | Amendments, Supplements or Waivers with Consent of Holders | 77 | ||||
SECTION 903. | Execution of Amendments, Supplements or Waivers | 78 | ||||
SECTION 904. | Revocation and Effect of Consents | 78 | ||||
SECTION 905. | Compliance with Trust Indenture Act | 78 | ||||
SECTION 906. | Notation on or Exchange of Notes | 78 | ||||
SECTION 907. | Notice of Supplemental Indentures | 79 | ||||
ARTICLE TEN COVENANTS | ||||||
SECTION 1001. | Payment of Principal, Premium, if Any, and Interest | 79 | ||||
SECTION 1002. | Maintenance of Office or Agency | 79 | ||||
SECTION 1003. | Money for Notes Payments To Be Held in Trust | 79 | ||||
SECTION 1004. | Corporate Existence | 81 | ||||
SECTION 1005. | Payment of Taxes and Other Claims | 81 | ||||
SECTION 1006. | Maintenance of Properties | 81 | ||||
SECTION 1007. | Maintenance of Insurance | 81 | ||||
SECTION 1008. | Statement by Officers as to Default | 86 | ||||
SECTION 1009. | Reports and Other Information | 86 | ||||
SECTION 1010. | Limitation on Restricted Payments | 88 | ||||
SECTION 1011. | Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock | 93 | ||||
SECTION 1012. | Limitation on Liens | 98 | ||||
SECTION 1013. | Limitations on Transactions with Affiliates | 98 | ||||
SECTION 1014. | Limitations on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries | 101 | ||||
SECTION 1015. | Limitation on Guarantees of Indebtedness by Restricted Subsidiaries | 102 |
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Page | ||||||
SECTION 1016. | Limitation on Sale and Lease-Back Transactions | 103 | ||||
SECTION 1017. | Change of Control | 103 | ||||
SECTION 1018. | Asset Sales | 105 | ||||
SECTION 1019. | Suspension of Covenants | 108 | ||||
SECTION 1020. | Payments for Consent | 109 | ||||
SECTION 1021. | Conduct of Business | 109 | ||||
SECTION 1022. | Limitation on Activities of the Co-Issuer. | 109 | ||||
SECTION 1023. | Additional Amounts | 110 | ||||
ARTICLE ELEVEN REDEMPTION OF NOTES | ||||||
SECTION 1101. | Right of Redemption | 111 | ||||
SECTION 1102. | Applicability of Article | 112 | ||||
SECTION 1103. | Election To Redeem; Notice To Trustee | 112 | ||||
SECTION 1104. | Selection by Trustee of Notes To Be Redeemed | 112 | ||||
SECTION 1105. | Notice of Redemption | 113 | ||||
SECTION 1106. | Deposit of Redemption Price | 113 | ||||
SECTION 1107. | Notes Payable on Redemption Date | 114 | ||||
SECTION 1108. | Notes Redeemed in Part | 114 | ||||
SECTION 1109. | Redemption for Changes in Withholding Taxes | 114 | ||||
SECTION 1110. | Offers to Repurchase by Application of Proceeds | 115 | ||||
ARTICLE TWELVE GUARANTEES | ||||||
SECTION 1201. | Guarantees | 117 | ||||
SECTION 1202. | Severability | 118 | ||||
SECTION 1203. | Restricted Subsidiaries | 118 | ||||
SECTION 1204. | Limitation of Guarantors’ Liability | 118 | ||||
SECTION 1205. | Contribution | 119 | ||||
SECTION 1206. | Subrogation | 119 | ||||
SECTION 1207. | Reinstatement | 119 | ||||
SECTION 1208. | Release of a Guarantor | 119 | ||||
SECTION 1209. | Benefits Acknowledged | 120 | ||||
ARTICLE THIRTEEN LEGAL DEFEASANCE AND COVENANT DEFEASANCE | ||||||
SECTION 1301. | Issuer’s Option To Effect Legal Defeasance or Covenant Defeasance | 120 | ||||
SECTION 1302. | Legal Defeasance and Discharge | 120 | ||||
SECTION 1303. | Covenant Defeasance | 121 | ||||
SECTION 1304. | Conditions to Legal Defeasance or Covenant Defeasance | 121 | ||||
SECTION 1305. | Deposited Money and Government Securities To Be Held in Trust; Other Miscellaneous Provisions | 123 | ||||
SECTION 1306. | Reinstatement | 123 |
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EXHIBIT 1 to Rule 144A / Regulation S / IAI Appendix — Form of Initial Note
EXHIBIT 2 to Rule 144A / Regulation S / IAI Appendix — Form of Transferee Letter of Representation
EXHIBIT A — Form of Exchange Security or Private Exchange Security
EXHIBIT B — Form of Notation of Guarantee
EXHIBIT C — Form of Supplemental Indenture
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OF GENERAL APPLICATION
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THE BANK OF NEW YORK as Trustee | ||||
By: | ||||
as Authenticating Agent | ||||
By: | ||||
as Authorized Officer | ||||
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SUBSTANTIALLY ALL ASSETS
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• | on its Capital Stock or | ||
• | with respect to any other interest or participation in, or measured by, its profits or |
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(A) | Section 1010; | ||
(B) | Section 1011; | ||
(C) | Section 1013; | ||
(D) | Section 1015; |
(E) | Section 1014; | ||
(F) | clauses (b),(c) and (d) of the first paragraph of Section 1016; | ||
(G) | Section 1018 | ||
(H) | clause (4) of the first paragraph of Section 801; | ||
(I) | Section 1007; and | ||
(J) | Section 1021. |
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Year | Percentage | |||
2012 | 105.50 | % | ||
2013 | 102.75 | % | ||
2014 and thereafter | 100.00 | % |
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TELESAT CANADA | ||||
By: | /s/ Ted H. Ignacy | |||
Name: | Ted H. Ignacy | |||
Title: | Chief Financial Officer | |||
TELESAT LLC | ||||
By: | /s/ Ted H. Ignacy | |||
Name: | Ted H. Ignacy | |||
Title: | Chief Financial Officer and Treasurer | |||
TELESAT HOLDINGS INC. | ||||
By: | /s/ Ted H. Ignacy | |||
Name: | Ted H. Ignacy | |||
Title: | Chief Financial Officer | |||
INFOSAT COMMUNICATIONS, INC. ABLE INFOSAT COMMUNICATIONS, INC. | ||||
By: | /s/ Graeme A. Watson | |||
Name: | Graeme A. Watson | |||
Title: | President and Chief Executive Officer | |||
TELESAT INTERCO INC. INFOSAT ABLE HOLDINGS, INC. TELESAT SATELLITE HOLDINGS CORPORATION SKYNET SATELLITE CORPORATION TELESAT INTERNATIONAL, L.L.C. TELESAT BRAZIL HOLDINGS LLC TELESAT NETWORK SERVICES, INC. TELESAT NETWORK SERVICES INTERNATIONAL, INC. TELESAT NS, INC. TELESAT NS HOLDINGS, L.L.C. TELESAT NETWORK SERVICES HOLDINGS L.L.C. TELESAT NS, L.L.C. TELESAT NETWORK SERVICES, L.L.C. TELESAT SATELLITE GP, LLC TELESAT SATELLITE LP TELESAT COMMUNICATIONS SERVICES, INC. | ||||
By: | /s/ Daniel S. Goldberg | |||
Name: | Daniel S. Goldberg | |||
Title: | President and Chief Executive Officer | |||
TELESAT SPACE PARTICIPAÇÕES LTDA. TELESAT BRASIL CAPACIDADE DE SATÉLITES LTDA. as Guarantors | ||||
By: | /s/ Philip Joseph Rabito | |||
Name: | Philip Joseph Rabito | |||
Title: | Officer | |||
By: | /s/ Flávio Bartolomeu da Silva | |||
Name: | Flávio Bartolomeu da Silva | |||
Title: | Officer | |||
TELESAT SERVIÇOS DE TELECOMUNICAÇÃO LTDA. TELESAT BRASIL LTDA. as Guarantors | ||||
By: | /s/ Antonio Lage Filho | |||
Name: | Antonio Lage Filho | |||
Title: | Officer | |||
TELESAT (IOM) LIMITED as Guarantor | ||||
By: | /s/ Brian G. Hatton | |||
Name: | Brian G. Hatton | |||
Title: | Director | |||
THE BANK OF NEW YORK, as Trustee | ||||
By: | /s/ Carlos R. Luciano | |||
Name: | CARLOS R. LUCIANO | |||
Title: | VICE PRESIDENT | |||
Senior Notes Indenture
PRIVATE EXCHANGE NOTES
AND EXCHANGE NOTES
Term | Defined in Section: | |||
“Agent Members” | 2.1 | (b) | ||
“Global Notes” | 2.1 | (a) | ||
“IAI Global Note” | 2.1 | (a) | ||
“Permanent Regulation S Global Note” | 2.1 | (a) | ||
“Regulation S” | 2.1 | (a) | ||
“Regulation S Global Note” | 2.1 | (a) | ||
“Rule 144A” | 2.1 | (a) |
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Term | Defined in Section: | |||
“Rule 144A Global Note” | 2.1 | (a) | ||
“Temporary Regulation S Global Note” | 2.1 | (a) |
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to Rule 144A / Regulation S / IAI Appendix
than in Reliance on Regulation S]
Ex. 1-1
Ex. 1-2
Ex. 1-3
No. | US$ |
TELESAT CANADA | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: | ||||
as Trustee, certifies that this is one of the
Notes referred to in the Indenture.
By: | ||||
Authorized Signatory | ||||
Ex. 1-4
* | With respect to Additional Notes, this form of Note shall be adjusted to either accrue interest from the date of issuance of such Additional Note (“settle flat”) or for interest thereunder to be deemed to have accrued since last interest payment date. |
Ex. 1-5
Year | Percentage | |||
2012 | 105.50 | % | ||
2013 | 102.75 | % | ||
2014 and thereafter | 100.00 | % |
Ex. 1-6
Ex. 1-7
Ex. 1-8
Ex. 1-9
Date: | Your Signature: | |||||||
(Sign exactly as your name appears on the other side of this Note.) |
o | to the Issuer; or | |
o | pursuant to an effective registration statement under the Securities Act of 1933; or | |
o | inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or | |
o | outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933; or | |
o | pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933; or | |
o | to an institutional “accredited investor” (as defined in Rule 501(a)(1),(2),(3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements relating to the transfer of this Note (the form of which can be obtained from the Trustee) and, if such transfer is in respect of an aggregate principal amount of notes less than $250,000, an opinion of counsel acceptable to the Issuer that such transfer is in compliance with the Securities Act. |
Ex. 1-10
Signature | ||
Signature Guarantee: | ||
Signature must be guaranteed | Signature |
Notice: To be executed by an executive officer |
Ex. 1-11
Principal amount | Signature of | |||||||||||||||||
Amount of decrease | Amount of increase | of this Global Note | authorized | |||||||||||||||
in | in | following such | officer of Trustee | |||||||||||||||
Date of | Principal amount of | Principal amount of | decrease or in- | or Notes | ||||||||||||||
Exchange | this Global Note | this Global Note | crease | Custodian |
Ex. 1-12
Date: | Your Signature: | |||||||
(Sign exactly as your name appears on the other side of this Note.) |
Signature Guarantee: | ||
(Signature must be guaranteed) |
Ex. 1-13
to Rule 144A / Regulation S / IAI Appendix
Transferee Letter of Representation
1601 Telesat Court
Gloucester, Ontario K1B 5P4
[ ]
[ ]
[ ]
Ex. 2-1
TRANSFEREE: | ||||||
By: | ||||||
Ex. 2-2
OR PRIVATE EXCHANGE NOTE] */**/
*/ | [If the Note is to be issued in global form add the Global Notes Legend from Exhibit 1 to Appendix A and the attachment from such Exhibit 1 captioned “[TO BE ATTACHED TO GLOBAL NOTES] SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE.” | |
**/ | [If the Note is a Private Exchange Note issued in a Private Exchange to an Initial Purchaser holding an unsold portion of its initial allotment, add the Restricted Notes Legend from Exhibit 1 to Appendix A and replace the Assignment Form included in this Exhibit A with the Assignment Form included in such Exhibit 1.] |
Ex. A-1
No. | US$ |
TELESAT CANADA | ||||
By: | ||||
Name: | ||||
Title: | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT CANADA LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
TRUSTEE’S CERTIFICATE OF AUTHENTICATION | ||
THE BANK OF NEW YORK | ||
as Trustee, certifies that this is one of the Notes referred to in the Indenture. | ||
Authorized Signatory |
Ex. A-2
* | With respect to Additional Notes, this form of Note shall be adjusted to either accrue interest from the date of issuance of such Additional Note (“settle flat”) or for interest thereunder to be deemed to have accrued since last interest payment date. |
Ex. A-3
Year | Percentage | |||
2012 | 105.50 | % | ||
2013 | 102.75 | % | ||
2014 and thereafter | 100.00 | % |
Ex. A-4
Ex. A-5
Ex. A-6
Ex. A-7
Date: | Your Signature: | |||||||
(Sign exactly as your name appears on the other side of this Note.) |
Ex. A-8
Date: | Your Signature: | |||||||
(Sign exactly as your name appears on the other side of this Note.) |
Signature Guarantee: | ||
(Signature must be guaranteed) |
Ex. A-9
[NAME OF GUARANTOR(S)] | ||||
By: | ||||
Name: | ||||
Title: |
Ex. B-1
TO BE DELIVERED BY SUBSEQUENT GUARANTORS
Ex. C-1
Ex. C-2
[GUARANTEEING SUBSIDIARY] | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT CANADA | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT LLC | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT HOLDINGS INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
TELESAT INTERCO INC. | ||||
By: | ||||
Name: | ||||
Title: | ||||
[EXISTING GUARANTORS] | ||||
By: | ||||
Name: | ||||
Title: |
S-1
THE BANK OF NEW YORK, as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
S-2
Name | Title | Signature | ||
Name: | ||||
Title: | ||||