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Title: |
Purchase Agreement |
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Entities: |
Cede & Co.; Lehman Brothers Inc.; Nycas Administrative Services LLC; United Surgical Partners International Inc.; Akin, Gump, Strauss, Hauer & Feld LLP; Vinson & Elkins |
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Date: |
2002 |
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Size: |
Preview shows 11KB of 130KB total |
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Price: |
$64 |
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ID: |
#1878715 |
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UNITED SURGICAL PARTNERS HOLDINGS, INC.
10% Senior Subordinated Notes Due 2011
PURCHASE AGREEMENT
December 14, 2001
CREDIT SUISSE FIRST BOSTON CORPORATION
LEHMAN BROTHERS INC.
SG COWEN SECURITIES CORPORATION
As Representatives of the Several Purchasers,
c/o Credit Suisse First Boston Corporation,
Eleven Madison Avenue,
New York, N.Y. 10010-3629
Dear Sirs:
1. INTRODUCTORY. United Surgical Partners Holdings, Inc., a Delaware
corporation (the "COMPANY") and wholly-owned subsidiary of United Surgical
Partners International, Inc., a Delaware corporation (the "PARENT"), proposes to
issue and sell to the several initial purchasers named on SCHEDULE A hereto (the
"PURCHASERS") upon the terms and subject to the conditions set forth in this
agreement (the "PURCHASE AGREEMENT") U.S. $150,000,000 principal amount of its
10% Senior Subordinated Notes due 2011 (the "NOTES") to be issued under an
indenture, dated as of December 19, 2001 (the "INDENTURE"), among the Company,
the guarantors from time to time parties thereto (the "GUARANTORS") and U.S.
Trust Company of Texas, N.A. as trustee (the "TRUSTEE"). The Notes will be
guaranteed (the "GUARANTEE," and together with the Notes, the "OFFERED
SECURITIES") by the Guarantors. The United States Securities Act of 1933 is
herein referred to as the "SECURITIES ACT."
Holders (including subsequent transferees) of the Offered Securities
will have the registration rights set forth in the registration rights agreement
(the "REGISTRATION RIGHTS AGREEMENT"), to be dated the Closing Date (as
hereinafter defined), in substantially the form of EXHIBIT I hereto, for so long
as such Offered Securities constitute "TRANSFER RESTRICTED SECURITIES" (as
defined in the Registration Rights Agreement). Pursuant to the Registration
Rights Agreement, the Company and the Guarantors will agree to file with the
Securities and Exchange Commission (the "COMMISSION") under the circumstances
and upon the terms and subject to the conditions set forth therein, (i) a
registration statement under the Securities Act (the "EXCHANGE OFFER
REGISTRATION STATEMENT") relating to the Company's 10% Senior Subordinated Notes
in a like aggregate principal amount as the Company issued under the Indenture,
identical in all material respects to the Offered Securities and registered
under the Securities Act (the "EXCHANGE SECURITIES"), to be offered in exchange
for the Offered Securities (such offer to exchange being referred to as the
"EXCHANGE OFFER") and, if applicable, (ii) a shelf registration statement
pursuant to Rule 415 under the Securities Act (the "SHELF REGISTRATION
STATEMENT" and, together with the Exchange Offer Registration Statement, the
"REGISTRATION STATEMENTS") relating to the resale by certain holders of the
Offered Securities and to use their reasonable best efforts to cause such
Registration Statements to be declared and remain effective and usable for the
periods specified in the Registration Rights Agreement and to consummate the
Exchange Offer. The Offered Securities and the Exchange Securities are referred
to collectively as the "SECURITIES."
The Company and the Guarantors hereby agree with the several Purchasers
as follows:
{Page}
2. REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE GUARANTORS.
The Company and the Guarantors represent and warrant to, and agree with, the
several Purchasers that:
(a) A preliminary offering circular and an offering circular
relating to the Offered Securities to be offered by the Purchasers have
been prepared by the Company. Such preliminary offering circular (the
"PRELIMINARY OFFERING CIRCULAR") and offering circular (the "OFFERING
CIRCULAR"), as supplemented as of the date of this Agreement and any
other document approved by the Company for use in connection with the
contemplated resale of the Offered Securities are hereinafter
collectively referred to as the "OFFERING DOCUMENT." On the date of
this Agreement, the Offering Document does not include any untrue
statement of a material fact or omit to state any material fact
necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The preceding
sentence does not apply to statements in or omissions from the Offering
Document based upon written information furnished to the Company by any
Purchaser through Credit Suisse First Boston Corporation ("CSFBC")
specifically for use therein, it being understood and agreed that the
only such information is that described as such in Section 7(b) hereof.
Except as disclosed in the Offering Document, on the date of this
Purchase Agreement, the Company's Quarterly Report on Form 10-Q filed
with the Commission on August 14, 2001 and all subsequent reports
(collectively, the "EXCHANGE ACT REPORTS") which have been filed by the
Company with the Commission or sent to stockholders pursuant to the
Securities Exchange Act of 1934, as amended (the "EXCHANGE ACT"), do
not include any untrue statement of a material fact or omit to state
any material fact necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading.
Such documents, when they were filed with the Commission, conformed in
all material respects to the requirements of the Exchange Act and the
rules and regulations of the Commission thereunder.
(b) The Company and the Parent have each been duly
incorporated and each is an existing corporation in good standing under
the laws of the State of Delaware, with power and authority (corporate
and other) to own their respective properties and conduct their
respective business as described in the Offering Document; and the
Company and the Parent each are duly qualified to do business as a
foreign corporation in good standing in all other jurisdictions in
which their respective ownership or lease of property or the conduct of
their respective business requires such qualification, except where the
failure to be so qualified or to be in good standing would not,
individually or in the aggregate, have a material adverse effect on the
business, condition (financial or otherwise), properties or results of
operations of the Company, the Parent and the Company's subsidiaries
taken as a whole ("MATERIAL ADVERSE EFFECT"). SCHEDULE B attached
hereto is a true, complete and correct list of all of the direct and
indirect subsidiaries of the Parent and indicating their respective
jurisdictions of formation or organization, the Parent's direct or
indirect ownership therein, and whether such entity is a Guarantor
(each such subsidiary, including the Company, a "PARENT SUBSIDIARY,"
and collectively, the "PARENT SUBSIDIARIES").
(c) Each Parent Subsidiary has been duly incorporated or
organized and is an existing corporation, limited partnership or
limited liability company in good standing under the laws of the
jurisdiction of its incorporation or organization, with power and
authority (corporate and other) to own its properties and conduct its
business as described in the Offering Document; and each Parent
Subsidiary is duly qualified to do business as a foreign corporation,
limited partnership or limited liability company in good standing in
all other jurisdictions in which its ownership or lease of property or
the conduct of its business requires such qualification, except where
the failure to be so qualified or to be in good standing would not,
individually or in the aggregate, have a Material Adverse Effect; all
of the issued and outstanding capital stock or similar ownership
interest of each Parent Subsidiary has been duly authorized and validly
issued and is fully paid and nonassessable; and the capital stock or
similar ownership interest of each Parent Subsidiary owned by the
Parent, directly or through subsidiaries, is owned free from liens,
encumbrances and defects other than
2
{Page}
those liens permitted pursuant to the existing domestic credit
facility as defined in the Offering Circular ("PERMITTED LIENS"),
except where such lien, encumbrance and/or defect would not have a
Material Adverse Effect.
(d) The Indenture has been duly authorized; the Offered
Securities have been duly authorized; and when the Offered Securities
are delivered and paid for pursuant to this Purchase Agreement on the
Closing Date (as defined below), the Indenture will have been duly
executed and delivered by the Company and the Guarantors, such Offered
Securities will have been duly executed, authenticated, issued and
delivered and will conform to the description thereof contained in the
Offering Document and the Indenture and such Offered Securities will
constitute valid and legally binding obligations of the Company and the
Guarantors, enforceable against the Company and the Guarantors in
accordance with their terms, subject to bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar laws of
general applicability relating to or affecting creditors' rights and to
general equitable principles (regardless of whether considered in a
proceeding in equity or law).
(e) Except as disclosed in the Offering Document, there are no
contracts, agreements or understandings between the Company or any
Guarantor on the one hand, and any person on the other hand that would
give rise to a valid claim against the Company, any Guarantor or any
Purchaser for a brokerage commission, finder's fee or other like
payment in connection with this offering.
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