| | | | |
| | | | Simpson Thacher & BartlettLLP |
Johnson Controls International plc | | | | |
Tyco Fire & Safety Finance S.C.A. | | -5- | | February 2, 2023 |
Based upon the foregoing, and subject to the qualifications, assumptions and limitations stated herein, we are of the opinion that:
1. With respect to the Depositary Shares, assuming (a) the Preferred Shares underlying the Depositary Shares will be validly issued, fully paid and non-assessable and (b) the due execution, issuance and delivery of Depositary Receipts evidencing the Depositary Shares against deposit of the Preferred Shares in accordance with the applicable definitive Deposit Agreement, upon payment therefor in accordance with the applicable definitive underwriting, purchase or similar agreement and otherwise in accordance with the provisions of such agreement and such Deposit Agreement, the Depositary Shares will represent legal and valid interests in such Preferred Shares and the Depositary Receipts will constitute valid evidence of such interests in such Preferred Shares.
2. With respect to the Debt Securities issued by the Company, assuming the due execution, authentication, issuance and delivery of such Debt Securities, upon payment therefor in accordance with the applicable definitive underwriting, purchase or similar agreement and otherwise in accordance with the provisions of such agreement and the applicable Indenture, such Debt Securities will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms.
3. With respect to the Debt Securities co-issued by TFSCA, assuming the due execution, authentication, issuance and delivery of such Debt Securities, upon payment therefor in accordance with the applicable definitive underwriting, purchase or similar agreement and otherwise in accordance with the provisions of such agreement and the applicable Indenture, such Debt Securities will constitute valid and legally binding obligations of TFSCA enforceable against TFSCA in accordance with their terms.
4. With respect to the Warrants, assuming (a) the Ordinary Shares and Preferred Shares issuable under any Warrants are or will be, as applicable, validly issued, fully paid and non-assessable and the Debt Securities that are issuable under any Warrants will be valid and legally binding obligations of the Company and TFSCA, as applicable, and (b) the due execution, countersignature, issuance and delivery of such Warrants, upon payment therefor in accordance with the applicable definitive underwriting, purchase or similar agreement and otherwise in accordance with the provisions of such agreement, such Warrants will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms.
5. With respect to the Purchase Contracts, assuming (a) the Ordinary Shares and Preferred Shares issuable under any Purchase Contracts are or will be, as applicable, validly issued, fully paid and non-assessable and the Debt Securities that are issuable under any Purchase Contracts will be valid and legally binding obligations of the Company and TFSCA, as applicable, and (b) the due execution, issuance and delivery of such Purchase Contracts, upon payment therefor in accordance with the applicable definitive