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Title: |
Standby Purchase Agreement |
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Entities: |
Banco Bilbao Vizcaya Argentaria SA; Petrobras International Finance Co; Petroleo Brasileiro SA Petrobras; UBS Warburg LLC; Bank of New York |
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Date: |
2002 |
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Size: |
Preview shows 6KB of 178KB total |
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Price: |
$71 |
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ID: |
#1457029 |
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<SEQUENCE>6
<FILENAME>dex4.txt
<DESCRIPTION>STANDBY PURCHASE AGREEMENT
<TEXT>
<PAGE>
STANDBY PURCHASE AGREEMENT
Dated as of February 4, 2002
Between
PETROLEO BRASILEIRO S.A.--PETROBRAS,
as Standby Purchaser,
and
THE BANK OF NEW YORK, as
Trustee for the Noteholders
Referred to Herein
<PAGE>
Table of Contents
<TABLE>
<CAPTION>
Page
<S> <C>
SECTION 1. Definitions................................................................................2
SECTION 2. Partial Purchase Obligation...............................................................11
SECTION 3. Total Purchase Obligation.................................................................12
SECTION 4. Obligations Absolute......................................................................14
SECTION 5. Independent Obligation....................................................................16
SECTION 6. Waivers and Acknowledgments...............................................................16
SECTION 7. Claims Against the Issuer.................................................................17
SECTION 8. Payments Free and Clear of Taxes, Etc.....................................................17
SECTION 9. Representations and Warranties............................................................19
SECTION 10. Covenants................................................................................29
SECTION 11. Amendments, etc..........................................................................35
SECTION 12. Notices, Etc.............................................................................36
SECTION 13. No Waiver; Remedies......................................................................36
SECTION 14. Indemnification..........................................................................36
SECTION 15. Subordination............................................................................37
SECTION 16. Continuing Agreement; Assignment of Rights Under the Indenture and the Notes.............38
SECTION 17. Currency Rate Indemnity..................................................................38
SECTION 18. Governing Law; Jurisdiction; Waiver of Immunity, Etc.....................................39
SECTION 19. Execution in Counterparts................................................................40
SECTION 20. Pledge of Interest in Accounts...........................................................41
SECTION 21. Entire Agreement.........................................................................41
</TABLE>
i
<PAGE>
EXECUTION COPY
STANDBY PURCHASE AGREEMENT
STANDBY PURCHASE AGREEMENT (this "Agreement"), dated as of February 4,
---------
2002, between PETROLEO BRASILEIRO S.A.--PETROBRAS (the "Standby Purchaser"), a
-----------------
sociedade do economia mista organized and existing under the laws of the
Federative Republic of Brazil ("Brazil"), and THE BANK OF NEW YORK, as trustee
------
for the holders of the Notes issued pursuant to the Indenture (as defined below)
(the "Trustee").
-------
WITNESSETH:
WHEREAS, Petrobras International Finance Company, a Cayman Islands
limited company and a wholly-owned Subsidiary of the Standby Purchaser (the
"Issuer"), has entered into an Indenture dated February 4, 2002 (the
------
"Indenture") with the Trustee;
---------
WHEREAS, the Issuer has duly authorized the issuance of its notes in
such principal amount or amounts as may from time to time be authorized in
accordance with the Indenture and is, on the date hereof, issuing
U.S.$400,000,000 of its 9 1/8% Senior Notes due 2007 under the Indenture (the
"Initial Notes");
-------------
WHEREAS, pursuant to the Registration Rights Agreement (the
"Registration Rights Agreement"), dated February 4, 2002 among the Issuer, the
-----------------------------
Standby Purchaser and the Initial Purchasers, the Issuer and the Standby
Purchaser have agreed to register the Initial Notes under the Securities Act and
to effect an exchange offer pursuant to which the Issuer will issue securities
registered with the SEC under the Securities Act, with identical terms as the
Initial Notes (except restrictions on transfer) (the "Exchange Notes") in
--------------
exchange for the Initial Notes;
WHEREAS, the Standby Purchaser is willing to enter into this Agreement
in order to provide the holders of the Initial Notes and the Exchange Notes
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