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Document Preview Registration Rights Agreement |
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Title: |
Registration Rights Agreement |
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Date: |
2003 |
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Size: |
Preview shows 14KB of 110KB total |
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Price: |
$53 |
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ID: |
#1093839 |
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by and among
LIME ROCK PARTNERS II, LP
and
NATCO GROUP INC.
Dated as of March 25, 2003
================================================================================
Table of Contents
Page
----
1. Registration on Request.............................................................................. 1
1.1. Requests....................................................................................... 1
1.2. Obligation to Effect Registration.............................................................. 1
1.3. Exceptions to Registration Requirements........................................................ 2
1.4. Suspending Registration........................................................................ 2
1.5. Registration Statement Form.................................................................... 3
1.6. Expenses....................................................................................... 3
1.7. Effective Registration Statement............................................................... 4
1.8. Pro Rata Allocation............................................................................ 4
1.9. Selecting Underwriters......................................................................... 4
1.10. Securities in Registration Must be Distributed by Underwriters................................. 5
1.11. Underwriting Agreement......................................................................... 5
1.12. Failure of Condition under Underwriting Agreement.............................................. 6
1.13. Underwriting Agreement......................................................................... 6
2. Piggyback Registration............................................................................... 6
2.1. NATCO's Notice of Registration................................................................. 6
2.2. Holder's Piggyback Registration Request........................................................ 6
2.3. NATCO Decides Not to Effect Registration....................................................... 6
2.4. Registration Priority in a Registration Initiated by NATCO..................................... 7
2.5. Registration Priority in a Registration Requested by Holders of Existing
Registrable Securities....................................................................... 8
2.6. Registration Priority in a Registration Requested by Other Holders............................. 9
2.7. Registration Expenses.......................................................................... 10
2.8. Underwriting Agreement......................................................................... 10
3. Registration Procedures.............................................................................. 10
3.1. Best Efforts................................................................................... 10
3.2. Holders to Give NATCO Information.............................................................. 15
3.3. Documents Identifying the Seller............................................................... 15
3.4. Misleading Registration Statement or Prospectus................................................ 15
4. Hold Back Agreements................................................................................. 16
4.1. When Restrictions Apply........................................................................ 16
4.2. Restrictions................................................................................... 16
4.3. Others to Enter into Similar Agreements........................................................ 17
5. Preparation; Reasonable Investigation................................................................ 17
6. Other Registrations.................................................................................. 17
7. Indemnification...................................................................................... 17
7.1. Indemnification by NATCO....................................................................... 17
i
Table of Contents
(continued)
7.2. Exceptions to NATCO's Liability................................................................ 18
7.3. Indemnification by the Sellers................................................................. 19
7.4. Exceptions to Holder's Liability............................................................... 20
7.5. Limitations on Holder's Liability.............................................................. 20
7.6. Notices of Claims, etc......................................................................... 20
7.7. Other Indemnification.......................................................................... 21
7.8. Contribution................................................................................... 21
7.9. Survival of Indemnities........................................................................ 23
7.10. Officers and Directors......................................................................... 23
8. Other Provisions Relating to Registrable Securities.................................................. 23
8.1. Registration Requests for Convertible Preferred Shares or Warrant.............................. 23
8.2. Best Registration Rights....................................................................... 23
8.3. Rule 144; Legended Securities; etc............................................................. 23
8.4. Nominees for Beneficial Owners................................................................. 24
9. Miscellaneous........................................................................................ 24
9.1. Notices........................................................................................ 24
9.2. Amendments and Waivers......................................................................... 26
9.3. Specific Performance........................................................................... 26
9.4. Severability................................................................................... 27
9.5. Governing Law.................................................................................. 27
9.6. Jurisdiction................................................................................... 27
9.7. Waiver of Jury Trial........................................................................... 27
9.8. Successors, Assigns and Transferees............................................................ 28
9.9. No Third Party Beneficiaries................................................................... 28
9.10. Term........................................................................................... 28
9.11. Further Assurances............................................................................. 28
9.12. No Inconsistent Agreements..................................................................... 28
9.13. Counterparts................................................................................... 28
10. Definitions and Interpretation....................................................................... 29
10.1. Definitions.................................................................................... 29
10.2. Interpretation................................................................................. 34
ii
REGISTRATION RIGHTS AGREEMENT
REGISTRATION RIGHTS AGREEMENT ("Agreement"), dated as of March 25, 2003,
entered into by and between Lime Rock Partners II, LP, a Cayman Islands exempted
limited partnership ("Purchaser"), and NATCO Group Inc., a Delaware corporation
("NATCO").
R E C I T A L S
WHEREAS, under a Securities Purchase Agreement, dated as of March 13,
2003, by and between NATCO and Purchaser ("Securities Purchase Agreement"),
Purchaser agreed to buy from NATCO, and NATCO agreed to sell to Purchaser, at
the Closing (as defined in the Securities Purchase Agreement): (i) shares of
NATCO's Series B convertible preferred stock, par value $0.01 ("Convertible
Preferred Shares"), which are convertible into shares of NATCO's common stock,
par value $0.01 ("Common Stock"), under the Certificate of Designations with
respect to the Convertible Preferred Shares filed with the Secretary of State of
the State of Delaware ("Certificate of Designations"); and (ii) a warrant to buy
shares of Common Stock ("Warrant").
WHEREAS, Purchaser, or entities wholly owned by Purchaser, may in the
future buy or otherwise obtain other shares of Common Stock ("Additional
Shares") from NATCO or from other shareholders of NATCO.
NOW, THEREFORE, the Parties agree as follows:
1. Registration on Request.
1.1. Requests. The Holder or Holders of Registrable Securities
constituting at least 50% of the Registrable Securities outstanding at any date
(exclusive of Additional Securities) have the right to make requests to NATCO to
effect registrations under the Securities Act relating to a Public Offering of
some or all of the Registrable Securities of the Holder or Holders making the
request. Requests shall specify the jurisdictions in which the registration is
to be effected. However, NATCO is not obligated to effect registrations under
Section 1.2 in respect of more than three registration requests under this
Section 1.1.
1.2. Obligation to Effect Registration. Subject to Section 1.3 and Section
1.4, on receiving a registration request under Section 1.1, NATCO will promptly
give notice of the requested registration to all Holders of Registrable
Securities, and use its best efforts to effect the registration under the
Securities Act in a Public Offering of:
(i) the Registrable Securities which NATCO has been requested to
register under Section 1.1; and
(ii) the other Registrable Securities which Holders of Registrable
Securities request NATCO to register, by request given to
NATCO within 15 Business Days after NATCO gives its notice
under Section 1.2.
1.3. Exceptions to Registration Requirements. NATCO does not have to
effect a registration under Section 1.2 if the number of Registrable Securities
to be included in the registration is less than 750,000 shares (subject to
appropriate adjustments for stock dividends, stock subdivisions, stock splits,
stock combinations, stock reclassifications changing the number of stock, and
similar events). If NATCO decides not to effect a registration on this ground,
it shall promptly give the Holders of Registrable Securities notice of this
fact. The Holders of Registrable Securities who requested registration will then
be deemed to have withdrawn their request and not to have made their request
when determining whether NATCO is obligated to effect a registration under
Section 1.2.
1.4. Suspending Registration.
(a) NATCO may suspend its obligation to effect the registration of
Registrable Securities under Section 1.2:
(i) Other Registration Statement: if, promptly after receipt of
the request referred to in Section 1.1, it gives the Holders
who made the request notice that it has filed or was at the
time of receipt of that request preparing to file a
registration statement ("Other Registration Statement") with
respect to shares of Common Stock, until 90 days after the
effective date of the Other Registration Statement under the
Securities Act (or until 45 days after NATCO gives that
notice, if NATCO has not filed the Other Registration
Statement within that 45 day period) provided that NATCO uses
its best efforts to cause the Other Registration Statement to
be declared effective as promptly as practicable and, during
the suspension period, does not file, or take any steps to
prepare to file, any registration statement except the Other
Registration Statement or a Special Registration;
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