{"id":41007,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/equity-for-debt-exchange-agreement-exodus-communications-inc3.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"equity-for-debt-exchange-agreement-exodus-communications-inc3","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/finance\/equity-for-debt-exchange-agreement-exodus-communications-inc3.html","title":{"rendered":"Equity-For-Debt Exchange Agreement &#8211; Exodus Communications Inc. and Fir Tree"},"content":{"rendered":"<pre>\n                                                                    Confidential\n\n                       Equity-For-Debt Exchange Agreement\n\nThis Equity-For-Debt Exchange Agreement (\"Agreement\"), dated as of August 22,\n2001 (\"Effective Date\"), is entered into between Exodus Communications, Inc.\n(\"Company\") and Fir Tree (Fir Tree Value Fund, L.P., Fir Tree Institutional\nValue Fund, L.P., Fir Tree Value Partners LDC, and Fir Tree Recovery Master\nFund, L.P., collectively \"Fir Tree\").\n\n                                    Recitals\n                                    --------\n\n1. Fir Tree wishes to exchange a total of\n\n        $7,500,000 principal amount of Company's 11.625% senior notes due\n        7\/15\/10,\n        $6,000,000 principal amount of Company's 11.25% senior notes due 7\/1\/08,\n        $17,000,000 principal amount of Company's 10.75% senior notes due\n        12\/15\/09,\n        $56,000,000 principal amount of Company's 4.75% subordinated convertible\n        notes due 7\/15\/08, and\n        $15,500,000 principal amount of Company's 5.25% subordinated convertible\n        notes due 2\/15\/08 (collectively, the \"Bonds\").\n\n2. Fir Tree and the Company have agreed that it is in their mutual interest to\nexchange the Bonds for shares of the common stock of the Company.\n\n3. In consideration of the premises and the agreements and representations\ncontained herein, the parties hereto agree as follows:\n\n                                   Agreement\n\nA. Bond Exchange.\n   -------------\n\nOn the Effective Date, Fir Tree will transfer and deliver the Bonds to Company\nand Company will deliver 18,637,096 shares of its common stock (the \"Shares\")\nto Fir Tree in exchange for the Bonds plus all claims arising out of or relating\nto the Bonds, including but not limited to any accrued but unpaid interest\nthereon.\n\nB. Representations and Warranties.\n   ------------------------------\n\nCompany represents and warrants to Fir Tree that, assuming the accuracy of Fir\nTree's representations and warranties herein:\n\n        (1) the Shares when issued will be validly issued, fully paid and\n        nonassessable, and will be free of any restrictive legend or other\n        transfer restriction imposed by the Company;\n\n        (2) the Shares are not subject to any restrictions on transfer under the\n        Securities Act of 1933 (as amended), by virtue of the exemption\n        contained in Section 3 (a) (9) thereof, or to restrictions on transfer\n        under any other law of general applicability;\n\n\n\n\n                                                                    Confidential\n\n        (3) the issuance and delivery of the Shares to Fir Tree under this\n        Agreement does not violate: (a) the Company's charter documents;\n        (b) any agreement to which the Company is a party, including any\n        indenture; or (c) any applicable federal or state statute, rule or\n        regulation; and\n\n        (4) no filing by the Company under the Securities Exchange Act of 1934\n        (as amended) at the time of such filing contained a misstatement of\n        material fact or omitted to state a material fact necessary to make the\n        statements therein not misleading.\n\nFir Tree represents and warrants to Company that:\n\n        (1) Fir Tree conveys to Company hereunder good title to the Bonds, free\n        and clear of liens, claims and encumbrances; and\n\n        (2) Fir Tree is not an affiliate of Company, as the term \"affiliate\"\n        is defined under the Securities Act and the rules and regulations\n        thereunder.\n\nC. Governing Law. This Agreement shall be governed by the laws of the State of\n   -------------\nNew York without giving effect to the conflict of law rules contained therein.\n\nIN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed\nas of the Effective Date.\n\n                                        FIR TREE VALUE FUND, L.P.\n                                        FIR TREE INSTITUTIONAL VALUE FUND, L.P.\n                                        FIR TREE VALUE PARTNERS LDC\n                                        FIR TREE RECOVERY MASTER FUND, L.P.\n\n\n                                        By: \/s\/  Jeff Tannenbaum\n                                           ------------------------------------\n                                        Name:  Jeff Tannenbaum\n                                        Title: Authorized Person\n\n\n                                        EXODUS COMMUNICATIONS, INC.\n\n\n                                        By: \/s\/  William M. Austin\n                                           ------------------------------------\n                                        Name:  William M. Austin\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7490],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9563,9560],"class_list":["post-41007","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-exodus-communications-inc","corporate_contracts_industries-technology__software","corporate_contracts_types-finance__exchange","corporate_contracts_types-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=41007"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41007"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41007"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}