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Title: |
Succession Agreement |
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Entities: |
FMC Corp.; Wachovia Bank, NA; BNY Midwest Trust Company |
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Date: |
2002 |
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Size: |
Preview shows 5KB of 14KB total |
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Price: |
$40 |
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ID: |
#227904 |
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SUCCESSION AGREEMENT
DATED AS OF AUGUST 6, 2002
AMONG
FMC CORPORATION
AND
BNY MIDWEST TRUST COMPANY
as Trustee,
AND
WACHOVIA BANK, NATIONAL ASSOCIATION
as Successor Trustee
{PAGE}
THIS SUCCESSION AGREEMENT, dated as of August 6, 2002, but not effective until
the date of execution and delivery hereof by all parties hereto, among FMC
Corporation, a Delaware corporation ("Company"), BNY Midwest Trust Company, an
Illinois trust company ("Trustee"), and Wachovia Bank, National Association, a
national banking association ("Successor Trustee"),
WITNESSETH:
WHEREAS, the Company and Trustee are parties to an Indenture dated as of April
1, 1992 ("1992 "Indenture"), under which the Company has issued debt securities,
of which one series with an aggregate principal amount of $160,490,000 is
currently outstanding; and
WHEREAS, the Company and Trustee are parties to an Indenture dated as of July 1,
1996 ("1996 "Indenture"; together with the 1992 Indenture, "Indentures"), under
which the Company has issued debt securities, of which three series with an
aggregate outstanding principal amount of $342,500,000 are currently
outstanding; and
WHEREAS, Exhibit A hereto lists all the series of debt securities outstanding
under the 1992 Indenture or the 1996 Indenture; and
WHEREAS, the Company and Trustee are parties to an Exchange Rate Agent Agreement
dated as of January 24, 1997 ("1997 Exchange Rate Agreement"), pursuant to which
the Company has appointed the Trustee to serve as exchange rate agent for the
Company's Medium-Term Notes, Series A, issued under the 1996 Indenture; and
WHEREAS, the Company and Trustee are parties to an Exchange Rate Agent Agreement
dated as of November 12, 1998 ("1998 Exchange Rate Agreement"; together with the
1997 Exchange Rate Agreement, "Exchange Rate Agreements"), pursuant to which the
Company has appointed the Trustee to serve as exchange rate agent for the
Company's Medium-Term Notes, Series B, issued under the 1996 Indenture; and
WHEREAS, the Company and Trustee are parties to a Calculation Agent Agreement
dated as of January 24, 1997 ("1997 Calculation Agreement"), pursuant to which
the Company has appointed the Trustee to serve as calculation agent for the
Company's Medium-Term Notes, Series A, issued under the 1996 Indenture; and
WHEREAS, the Company and Trustee are parties to a Calculation Agent Agreement
dated as of November 12, 1998 ("1998 Calculation Agreement"; together with the
1997 Calculation Agreement, "Calculation Agreements"), pursuant to which the
Company has appointed the Trustee to serve as calculation agent for the
Company's Medium-Term Notes, Series B, issued under the 1996 Indenture; and
WHEREAS, each of the above-referenced indentures and agreements provides that in
certain circumstances the Trustee may resign or be removed from its position
thereunder; and
WHEREAS, the Trustee has given written notice to the Company of the Trustee's
resignation as trustee under the Indentures, as exchange rate agent under the
Exchange Rate Agreements, and as calculation agent under the Calculation
Agreements; such notice made pursuant to Section 6.8 of the Indentures, Section
7(a) of the Exchange Rate Agreements, and Section 6(a) of the Calculation
Agreements; and
{PAGE}
WHEREAS, the Company desires to appoint the Successor Trustee to serve as
successor trustee under the Indentures, to serve as successor exchange rate
agent under the Exchange Rate Agreements, and to serve as successor calculation
agent under the Calculation Agreements; such appointments to be made pursuant to
Section 6.8 of the Indenture, Section 7(b) of the Exchange Rate Agreements, and
Section 6(b) of the Calculation Agreements; and
WHEREAS, such appointments by the Company shall not be effective until their
acceptance hereunder by the Successor Trustee;
NOW THEREFORE, pursuant to Section 6.8 of the Indentures, Section 7 of the
Exchange Rate Agreements and Section 6 of the Calculation Agreements, and in
consideration of the covenants herein contained, and intending to be legally
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