ANNEX A
Qualified Institutional Buyer
means:
(1)
Any of the following entities, acting for its own account or the accounts of other Qualified Institutional Buyers,
that in the aggregate owns and invests on a discretionary basis at least $100 million in securities of issuers that are not affiliated
with the entity:
(a) Any insurance company as defined in Section 2(a)(13) of the U.S.
Securities Act of 1933, as amended (the Securities Act);
(b) Any investment company registered under the Investment Company Act of
1940, as amended (the Investment Company Act) or any business
development company as defined in Section 2(a)(48) of the Investment Company
Act;
(c) Any small business investment company licensed by the U.S. Small
Business Administration under Section 301(c) or (d) of the Small Business
Investment Act of 1958;
(d) Any plan established and maintained by a state, its political
subdivisions, or any agency or instrumentality of a state or its political
subdivisions, for the benefit of its employees;
(e) Any employee benefit plan within the meaning of Title I of the
Employee Retirement Income Security Act of 1974;
(f) Any trust fund whose trustee is a bank or trust company and whose
participants are exclusively plans of the types identified in subparagraph
(1)(D) or (E) above, except trust funds that include as participants individual
retirement accounts or H.R. 10 plans;
(g) Any business development company as defined in Section 202(a)(22) of
the Investment Advisers Act of 1940 (the Investment Advisers Act);
(h) Any organization described in Section 501(c)(3) of the Internal Revenue
Code, corporation (other than a bank as defined in Section 3(a)(2) of the
Securities Act or a savings and loan association or other institution referenced
in Section 3(a)(5)(A) of the Securities Act or a foreign bank or savings and
loan association or equivalent institution), partnership, or Massachusetts or
similar business trust; and
(i) Any investment adviser registered under the Investment Advisers Act.
(2) Any dealer registered pursuant to Section 15 of the Securities
Exchange Act of 1934 (the Exchange Act), acting for its own
account or the accounts of other qualified institutional buyers, that in the
aggregate owns and invests on a discretionary basis at least $10 million of
securities of issuers that are not affiliated with the dealer, provided,
that securities constituting the whole or a part of an unsold allotment to or
subscription by a dealer as a participant in a public offering shall not be
deemed to be owned by such dealer;
(3) Any dealer registered pursuant to Section 15 of the Exchange Act
acting in a riskless principal transaction on behalf of a qualified
institutional buyer;
(4) Any investment company registered under the Investment Company Act,
acting for its own account or for the accounts of other qualified institutional
buyers, that is part of a family of investment companies which own in the
aggregate at least $100 million in securities of issuers, other than issuers
that are affiliated with the investment company or are part of such family of
investment companies. Family of investment companies means any two or
more investment companies registered under the Investment Company Act, except
for a unit investment trust whose assets consist solely of shares of one or more
registered investment companies, that have the same investment adviser (or, in
the case of unit investment trusts, the same depositor), provided that,
for purposes of this subparagraph:
(i) Each series of a series company (as defined in Rule 18f-2 under the
Investment Company Act) shall be deemed to be a separate investment company; and
(ii) Investment companies shall be deemed to have the same adviser (or
depositor) if their advisers (or depositors) are majority-owned subsidiaries of
the same parent, or if one investment company's adviser (or depositor) is a
majority-owned subsidiary of the other investment company's adviser (or
depositor);
(5) Any entity, all of the equity owners of which are qualified
institutional buyers, acting for its own account or the accounts of other
qualified institutional buyers; and
(6) Any bank as defined in Section 3(a)(2) of the Securities Act, any
savings and loan association or other institution as referenced in Section
3(a)(5)(A) of the Securities Act, or any foreign bank or savings and loan
association or equivalent institution, acting for its own account or the
accounts of other qualified institutional buyers, that in the aggregate owns and
invests on a discretionary basis at least $100 million in securities of issuers
that are not affiliated with it and that has an audited net worth of at least
$25 million as demonstrated in its latest annual financial statements, as of a
date not more than 16 months preceding the date of sale under the rule in the
case of a U.S. bank or savings and loan association, and not more than 18 months
preceding such date of sale for a foreign bank or savings and loan association
or equivalent institution.
For purposes of the foregoing definition:
(1) In determining the aggregate amount of securities owned and invested
on a discretionary basis by an entity, the following instruments and interests
shall be excluded: bank deposit notes and certificates of deposit; loan
participations; repurchase agreements; securities owned but subject to a
repurchase agreement; and currency, interest rate and commodity swaps.
(2) The aggregate value of securities owned and invested on a
discretionary basis by an entity shall be the cost of such securities, except
where the entity reports its securities holdings in its financial statements on
the basis of their market value, and no current information with respect to the
cost of those securities has been published. In the latter event, the
securities may be valued at market for purposes of this section.
(3) In determining the aggregate amount of securities owned by an entity
and invested on a discretionary basis, securities owned by subsidiaries of the
entity that are consolidated with the entity in its financial statements
prepared in accordance with generally accepted accounting principles may be
included if the investments of such subsidiaries are managed under the direction
of the entity, except that, unless the entity is a reporting company under
Section 13 or 15(d) of the Exchange Act, securities owned by such subsidiaries
may not be included if the entity itself is a majority-owned subsidiary that
would be included in the consolidated financial statements of another
enterprise.
(4) Riskless principal transaction means a transaction in which a
dealer buys a security from any person and makes a simultaneous offsetting sale
of such security to a qualified institutional buyer, including another dealer
acting as riskless principal for a qualified institutional buyer.
* * * * *
U.S. person means:
(1) Any natural person resident in the United States;
(2) Any partnership or corporation organized or incorporated under the
laws of the United States;
(3) Any estate of which any executor or administrator is a U.S. person;
(4) Any trust of which any trustee is a U.S. person;
(5) Any agency or branch of a foreign entity located in the United States;
(6) Any non-discretionary account or similar account (other than an estate
or trust) held by a dealer or other fiduciary for the benefit or account of a
U.S. person;
(7) Any discretionary account or similar account (other than an estate or
trust) held by a dealer or other fiduciary organized, incorporated, or (if an
individual) resident in the United States; and
(8) Any partnership or corporation if:
(a) Organized or incorporated under the laws of any foreign jurisdiction;
and
(b) Formed by a U.S. person principally for the purpose of investing in
securities not registered under the Securities Act, unless it is organized or
incorporated, and owned, by accredited investors (as defined in Rule 501(a)
under the Securities Act) who are not natural persons, estates or trusts.
The following are not U.S. persons:
(1) Any discretionary account or similar account (other than an estate or
trust) held for the benefit or account of a non-U.S. person by a dealer or other
professional fiduciary organized, incorporated, or (if an individual) resident
in the United States;
(2) Any estate of which any professional fiduciary acting as executor or
administrator is a U.S. person if:
(a) An executor or administrator of the estate who is not a U.S. person has sole
or shared investment discretion with respect to the assets of the estate; and
(b) The estate is governed by foreign law;
(3) Any trust of which any professional fiduciary acting as trustee is a
U.S. person, if a trustee who is not a U.S. person has sole or shared investment
discretion with respect to the trust assets, and no beneficiary of the trust
(and no settlor if the trust is revocable) is a U.S. person;
(4) An employee benefit plan established and administered in accordance
with the law of a country other than the United States and customary practices
and documentation of such country;
(5) Any agency or branch of a U.S. person located outside the United
States if:
(a) The agency or branch operates for valid business reasons; and
(b) The agency or branch is engaged in the business of insurance or
banking and is subject to substantive insurance or banking regulation,
respectively, in the jurisdiction where located; and
(6) The International Monetary Fund, the International Bank for
Reconstruction and Development, the Inter-American Development Bank, the Asian
Development Bank, the African Development Bank, the United Nations, and their
agencies, affiliates and pension plans, and any other similar international
organizations, their agencies, affiliates and pension plans.
* * * * * *
Non-U.S. qualified offeree means:
(1) in relation to each Member State of the European Economic Area and the
United Kingdom, a non-retail investor where a retail investor means a person who
is one (or more) of the following:
(a) a retail client as defined in point (11) of Article 4(1) of Directive
2014/65/EU (as amended, MiFID II); or
(b) a customer within the meaning of Directive (EU) 2016/97 (as amended,
the Insurance Distribution Directive), where that customer would not
qualify as a professional client as defined in point (10) of Article 4(1) of
MiFID II; or
(2) not a qualified investor as defined in Regulation (EU) 2017/1129 (as
amended, the Prospectus Regulation).in relation to an investor
in the U.K., a relevant person. For the purposes of this provision, the
expression relevant person means a person who is a qualified
investor (as defined in the Prospectus Regulation) who is one (or more) of
the following:
(a) persons who have professional experience in matters
relating to investments falling within Article 19(5) of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the Order);
or
(b) high net worth companies, and other persons falling
within Article 49(2)(a) to (d) of the Order; or
(c) any other persons to whom the Exchange Offer may
otherwise lawfully be made and to whom communications
relating to the Exchange Offer may otherwise lawfully be made under the Order.
(3) any entity outside the U.S. and the European Economic
Area to whom the offers related to the New Notes may be made in compliance with
all other applicable laws and regulations of any applicable jurisdiction.