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Form S-3ASR B&G Foods, Inc.

August 8, 2016 4:18 PM EDT

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TABLE OF CONTENTS

Table of Contents

As filed with the Securities and Exchange Commission on August 8, 2016

Registration No. 333-            


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933

B&G FOODS, INC.
(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of
incorporation or organization)
  13-3918742
(I.R.S. Employer
Identification No.)



Four Gatehall Drive
Parsippany, NJ 07054
973.401.6500

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

Scott E. Lerner
Executive Vice President, General Counsel, Secretary and Chief Compliance Officer
Four Gatehall Drive
Parsippany, NJ 07054
973.401.6500

(Name, address including zip code, and telephone number, including area code, of agent for service)



Copy to:
Sarah B. Gelb, Esq.
Stephen M. Leitzell, Esq.
Dechert LLP
Cira Centre
2929 Arch Street
Philadelphia, PA 19104
215.994.4000

Approximate date of commencement of proposed sale to the public:
From time to time after the effective date of this registration statement as determined by the registrant.

            If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box:    o

            If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.    ý

            If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.    o             

            If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.    o             

            If this Form is a registration statement filed pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box.    ý

            If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.    o

            Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer ý   Accelerated filer o   Non-accelerated filer o
(Do not check if a
smaller reporting company)
  Smaller reporting company o



               
 
Title of Each Class of Securities to be Registered
  Amount to be
Registered(1)(2)

  Proposed Maximum
Offering Price Per
Unit(1)(2)

  Proposed Maximum
Aggregate Offering
Price(1)(2)

  Amount of
Registration
Fee(3)

 

Common Stock, par value $0.01 per share

               
 

Preferred Stock, par value $0.01 per share

               
 

Debt Securities

               
 

Subsidiary Guarantees of Debt Securities(4)

               
 

Warrants

               
 

Units

               
 

TOTAL

               

 

(1)
Omitted pursuant to Form S-3 General Instruction II.E.

(2)
An unspecified amount of the securities of each identified class of securities is being registered for possible issuance from time to time at indeterminate prices. Separate consideration may or may not be received for securities that are issuable on exercise, conversion or exchange of other securities or that are issued in units. In accordance with Rules 456(b) and 457(r) under the Securities Act, we are deferring payment of all applicable registration fees.

(3)
Deferred in reliance upon Rule 456(b) and Rule 457(r) under the Securities Act.

(4)
Includes an indeterminate amount of subsidiary guarantees of the debt securities by the additional registrants named herein. No additional consideration will be received for the subsidiary guarantees, if any, of the debt securities. Pursuant to Rule 457(n) under the Securities Act, no additional filing fee is required in connection with the subsidiary guarantees of the debt securities.

   


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B&G FOODS, INC.
Table of Additional Registrants

Exact Name of Registrant as Specified in its Charter
  Jurisdiction of
Incorporation or
Organization
  IRS
Employer
Identification
Number
 

B&G Foods North America, Inc. 

  Delaware     22-3640377  

B&G Foods Snacks, Inc. 

  Delaware     46-1040154  

Bear Creek Country Kitchens, LLC

  Delaware     52-2409215  

Pirate Brands, LLC

  Delaware     26-2600634  

Spartan Foods Holding Company

  Delaware     27-1442631  

Spartan Foods of America, Inc. 

  South Carolina     20-2424405  

William Underwood Company

  Massachusetts     04-1919830  

        The address, including zip code, and telephone, including area code, of the principal executive offices of each additional registrant listed above is: c/o B&G Foods, Inc., Four Gatehall Drive, Parsippany, NJ 07054; their telephone number at that address is 973.401.6500.

        The name, address, including zip code, and telephone number, including area code, of the agent for service of each additional registrant listed above is: Scott E. Lerner, Executive Vice President, General Counsel, Secretary and Chief Compliance Officer, B&G Foods, Inc., Four Gatehall Drive, Parsippany, NJ 07054; 973.401.6500.


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PROSPECTUS

LOGO

Common Stock
Preferred Stock
Debt Securities
Warrants
Units

        We may offer and sell, from time to time in one or more offerings, together or separately, common stock, preferred stock, debt securities, warrants or units. This prospectus also covers subsidiary guarantees, if any, of our payment obligations under any debt securities, which may be given by our subsidiaries, on terms to be determined at the time of the offering.

        We will provide the specific terms of these securities in supplements to this prospectus. The prospectus supplement may also add, update or change information in this prospectus. Before you invest, we urge you to read carefully this prospectus and any prospectus supplement, as well as the documents incorporated by reference or deemed to be incorporated by reference into this prospectus.

        We will sell these securities directly, or through agents, dealers or underwriters as designated from time to time, or through a combination of these methods. The prospectus supplement for each offering of securities will describe in detail the plan of distribution for that offering. For general information about the distribution of securities offered, please see "Plan of Distribution" in this prospectus. If our agents or any dealers or underwriters are involved in the sale of the securities, the applicable prospectus supplement will set forth any applicable commissions or discounts. Our net proceeds from the sale of securities also will be set forth in the applicable prospectus supplement.

        This prospectus may not be used to offer or sell our securities unless accompanied by a prospectus supplement.

        Shares of our common stock are traded on the New York Stock Exchange under the symbol "BGS." Each prospectus supplement will indicate if the securities offered thereby will be listed on the New York Stock Exchange or any other securities exchange.

        The mailing address of our principal executive offices is Four Gatehall Drive, Parsippany, NJ 07054, and our telephone number is 973.401.6500.



        Investing in our securities involves a high degree of risk which is described in the "Risk Factors" section beginning on page 1 of this prospectus. We urge you to carefully read the "Risk Factors" section before you make your investment decision.



        Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.



   

The date of this prospectus is August 8, 2016


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ABOUT THIS PROSPECTUS

        This prospectus is part of a registration statement that we filed with the Securities and Exchange Commission (SEC) using a "shelf" registration process. Under this shelf registration process, we may offer from time to time, in one or more offerings, together or separately, common stock, preferred stock, debt securities, warrants or units. Each time we offer securities, we will provide you with a prospectus supplement that describes the specific amounts, prices and terms of the securities we offer. The prospectus supplement also may add, update or change information contained in this prospectus. You should read carefully both this prospectus and any prospectus supplement together with additional information described below under the caption "Where You Can Find More Information."

        This prospectus does not contain all the information provided in the registration statement we filed with the SEC. For further information about us or our securities offered hereby, you should refer to that registration statement, which you can obtain from the SEC as described below under the heading "Where You Can Find More Information."

        We have not authorized anyone to provide information or to make any representations other than those contained in this prospectus or a prospectus supplement. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is not an offer to sell securities, and it is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information appearing in this prospectus or any prospectus supplement, as well as information we have previously filed with the SEC and incorporated by reference, is accurate as of the date on the front of those documents only. Our business, financial condition, results of operations and prospects may have changed since those dates.

        We may sell securities through underwriters or dealers, through agents, directly to purchasers or through a combination of these methods. We and our agents reserve the sole right to accept or reject, in whole or in part, any proposed purchase of securities. The prospectus supplement, which we will provide to you each time we offer securities, will set forth the names of any underwriters, dealers, agents or others involved in the sale of securities and any applicable fee, commission or discount arrangements with them. See the information described below under the heading "Plan of Distribution."

        The terms "B&G Foods," "our," "we" and "us," as used in this prospectus, refer to B&G Foods, Inc. and its wholly-owned subsidiaries, except where it is clear that the term refers only to the parent company.


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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

        This prospectus and the documents incorporated or deemed to be incorporated by reference in this prospectus, and each prospectus supplement relating to a particular offering of securities, contain forward-looking statements. The words "believes," "anticipates," "plans," "expects," "intends," "estimates," "projects" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance and achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by any forward-looking statements. We believe important factors that could cause actual results to differ materially from our expectations include the following:

    our substantial leverage;

    the effects of rising costs for our raw materials, packaging and ingredients;

    crude oil prices and their impact on distribution, packaging and energy costs;

    our ability to successfully implement sales price increases and cost saving measures to offset any cost increases;

    intense competition, changes in consumer preferences, demand for our products and local economic and market conditions;

    our continued ability to promote brand equity successfully, to anticipate and respond to new consumer trends, to develop new products and markets, to broaden brand portfolios in order to compete effectively with lower priced products and in markets that are consolidating at the retail and manufacturing levels, and to improve productivity;

    the risks associated with the expansion of our business;

    our possible inability to identify new acquisitions or to integrate recent or future acquisitions or our failure to realize anticipated revenue enhancements, cost savings or other synergies;

    our ability to access the credit markets and our borrowing costs and credit ratings, which may be influenced by credit markets generally and the credit ratings of our competitors;

    unanticipated expenses, including, without limitation, litigation or legal settlement expenses;

    the effects of currency movements of the Canadian dollar and the Mexican peso as compared to the U.S. dollar;

    future impairments of our goodwill and intangible assets;

    our sustainability initiatives and changes to environmental laws and regulations;

    other factors that affect the food industry generally, including:

    recalls if products become adulterated or misbranded, liability if product consumption causes injury, ingredient disclosure and labeling laws and regulations and the possibility that consumers could lose confidence in the safety and quality of certain food products;

    competitors' pricing practices and promotional spending levels;

    the risks associated with third-party suppliers and co-packers, including the risk that any failure by one or more of our third-party suppliers or co-packers to comply with food safety or other laws and regulations may disrupt our supply of raw materials or certain finished goods products or injure our reputation; and

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      fluctuations in the level of our customers' inventories and credit and other business risks related to our customers operating in a challenging economic and competitive environment; and

    other factors discussed under "Risk Factors" or elsewhere in this prospectus and the documents incorporated or deemed incorporated herein by reference.

        Developments in any of these areas, which are more fully described elsewhere in this prospectus and the documents incorporated or deemed to be incorporated by reference in this prospectus, and each applicable prospectus supplement, could cause our results to differ materially from results that have been or may be projected by or on our behalf.

        All forward-looking statements included in this prospectus are based on information available to us on the date of this prospectus. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained in this prospectus.

        We caution that the foregoing list of important factors is not exclusive. We urge you not to unduly rely on forward-looking statements contained or incorporated or deemed to be incorporated by reference in this prospectus or any applicable prospectus supplement.

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THE COMPANY

        We manufacture, sell and distribute a diverse portfolio of branded, high quality, shelf-stable and frozen food and household products across the United States, Canada and Puerto Rico. Many of our branded products have leading regional or national market shares. In general, we position our branded products to appeal to the consumer desiring a high quality and reasonably priced product. We complement our branded product retail sales with institutional and food service sales and limited private label sales.

        Our company has been built upon a successful track record of both organic and acquisition-driven growth. Our goal is to continue to increase sales, profitability and cash flows by enhancing our existing portfolio of shelf-stable and frozen branded products and by capitalizing on our competitive strengths. We intend to implement our growth strategy through the following initiatives: expanding our brand portfolio with acquisitions of complementary branded businesses, continuing to develop new products and delivering them to market quickly, leveraging our multiple-channel sales and distribution system and continuing to focus on higher growth customers and distribution channels. Since 1996, we have successfully acquired and integrated more than 40 brands into our company.

        Our products include frozen and canned vegetables, hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, puffed corn and rice snacks, nut clusters and other specialty products. We compete in the retail grocery, food service, specialty, private label, club and mass merchandiser channels of distribution. We sell and distribute our products directly via a network of independent brokers and distributors to supermarket chains, food service outlets, mass merchants, warehouse clubs, non-food outlets and specialty distributors. Our products are marketed under many recognized brands, including Ac'cent, B&G, B&M, Baker's Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary's, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril's, Grandma's Molasses,Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald's, Mama Mary's, Maple Grove Farms of Vermont, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate's Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spring Tree, Sugar Twin, Trappey's, TrueNorth, Underwood, Vermont Maid and Wright's. We also sell and distribute Static Guard, a household product brand.

        B&G Foods, including our subsidiaries and predecessors, has been in business for over 120 years. We were incorporated in Delaware on November 25, 1996 under the name B Companies Holdings Corp. On August 11, 1997, we changed our name to B&G Foods Holdings Corp. On October 14, 2004, simultaneously with the completion of our initial public offering, B&G Foods, Inc., then our wholly-owned subsidiary, was merged with and into us and we were renamed B&G Foods, Inc. Our executive offices are located at Four Gatehall Drive, Parsippany, NJ, 07054, and our telephone number is 973.401.6500. We maintain a website at www.bgfoods.com. The information on our website is not a part of this prospectus or incorporated by reference herein.


USE OF PROCEEDS

        Except as otherwise provided in a prospectus supplement, we will use the net proceeds from the sale of the securities for general corporate purposes, which may include reducing or refinancing our outstanding indebtedness, increasing our working capital or financing acquisitions and capital expenditures. When a particular series of securities is offered, the prospectus supplement relating to that offering will set forth our intended use of the net proceeds received from the sale of those securities. Pending the application of the net proceeds for these purposes, we expect to invest the proceeds in short-term, interest-bearing instruments or other investment-grade securities.


RISK FACTORS

        Before making an investment decision, you should carefully consider the risks described under "Risk Factors" in the applicable prospectus supplement and in our most recent Annual Report on


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Form 10-K, or any updates in our Quarterly Reports on Form 10-Q, together with all of the other information appearing in this prospectus or incorporated or deemed to be incorporated by reference into this prospectus and any applicable prospectus supplement, in light of your particular investment objectives and financial circumstances. Our business, financial condition or results of operations could be materially adversely affected by any of these risks. The trading price of our securities could decline due to any of these risks, and you may lose all or part of your investment.


GENERAL DESCRIPTION OF THE SECURITIES WE MAY OFFER

        We, directly or through agents, dealers or underwriters designated from time to time, may offer, issue and sell, together or separately:

    shares of our common stock;

    shares of our preferred stock;

    debt securities, in one or more series, and which may be guaranteed by certain of our subsidiaries;

    warrants to purchase our debt or equity securities; or

    any combination of the foregoing, either individually or as units consisting of one or more of the foregoing, each on terms to be determined at the time of sale.

        We may issue debt securities that are exchangeable for or convertible into shares of our common stock or our preferred stock. The preferred stock may also be exchangeable for and/or convertible into shares of our common stock or another series of our preferred stock.

        When a particular series of securities is offered, a supplement to this prospectus will be delivered with this prospectus, which will set forth the terms of the offering and sale of the offered securities, as well as complete descriptions of the security or securities to be offered pursuant to the prospectus supplement. The summary descriptions of securities included in this prospectus are not meant to be complete descriptions of each security.


DESCRIPTION OF CAPITAL STOCK

General

        The following description of common stock and preferred stock, together with the additional information we include in any applicable prospectus supplements, summarizes the material terms and provisions of the common stock and preferred stock that we may offer under this prospectus. For the complete terms of our common stock and preferred stock, please refer to our certificate of incorporation, as amended from time to time, any certificates of designation for our preferred stock, and our bylaws, as amended from time to time. The Delaware General Corporation Law may also affect the terms of these securities. While the terms we have summarized below will apply generally to any future common stock or preferred stock that we may offer, we will describe the particular terms of any series of these securities in more detail in the applicable prospectus supplement. If we so indicate in a prospectus supplement, the terms of any common stock or preferred stock we offer under that prospectus supplement may differ from the terms we describe below.

        Our authorized capital stock consists of:

    125,000,000 shares of common stock, par value $0.01 per share; and

    1,000,000 shares of preferred stock, par value $0.01 per share.

        As of August 8, 2016, there are 62,656,314 shares of our common stock outstanding. There are no shares of preferred stock outstanding.

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Common Stock

        Voting.    The holders of our common stock are entitled to one vote per share with respect to each matter on which the holders of our common stock are entitled to vote.

        No Cumulative Voting Rights.    The holders of our common stock are not entitled to cumulate their votes in the election of our directors.

        Rights to Dividends and on Liquidation, Dissolution or Winding Up.    The holders of our common stock are entitled to receive dividends as they may be lawfully declared from time to time by our board of directors, subject to any preferential rights of holders of any outstanding shares of preferred stock. In the event of any liquidation, dissolution or winding up of our company, common stockholders are entitled to share ratably in our assets available for distribution to the stockholders, subject to the prior rights of holders of any outstanding preferred stock.

        Our dividend policy reflects a basic judgment that our stockholders are better served when we distribute a substantial portion of our cash available to pay dividends to them instead of retaining it in our business. Under this policy, a substantial portion of the cash generated by our company in excess of operating needs, interest and principal payments on indebtedness, capital expenditures sufficient to maintain our properties and other assets is distributed as regular quarterly cash dividends to the holders of our common stock and not retained by us.

        We have paid dividends every quarter since our initial public offering in October 2004. Our current quarterly dividend rate is $0.42 per share. The following table sets forth the dividends per share we have declared in each of the quarterly periods of 2015 and 2014 and the first three quarterly periods of 2016:

 
  Fiscal 2016   Fiscal 2015   Fiscal 2014  

Fourth Quarter

    N/A   $ 0.35   $ 0.34  

Third Quarter

  $ 0.42   $ 0.35   $ 0.34  

Second Quarter

  $ 0.42   $ 0.34   $ 0.34  

First Quarter

  $ 0.42   $ 0.34   $ 0.34  

        However, notwithstanding the dividend policy, the amount of dividends, if any, for each dividend payment date will be determined by our board of directors on a quarterly basis after taking into account various factors, including our results of operations, cash requirements, financial condition, the dividend restrictions set forth in our debt agreements, provisions of applicable law and other factors that our board of directors may deem relevant. Our dividend policy is based upon our current assessment of our business and the environment in which we operate, and that assessment could change based on competitive or other developments (which could, for example, increase our need for capital expenditures or working capital), new acquisition opportunities or other factors. Our board of directors is free to depart from or change our dividend policy at any time and could do so, for example, if it was to determine that we have insufficient cash to take advantage of growth opportunities.

        We cannot assure you that we will continue to pay dividends at the historical level set forth above or at all. Dividend payments are not mandatory or guaranteed, and holders of our common stock do not have any legal right to receive, or require us to pay, dividends. Our board of directors may, in its sole discretion, amend or repeal this dividend policy at any time. Furthermore, our board of directors may decrease the level of dividends below the rate historically paid or discontinue entirely the payment of dividends.

        Preemptive and Other Subscription Rights.    Common stockholders do not have preemptive, subscription or redemption rights and are not subject to further calls or assessments.

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        Additional Issuance of Our Authorized Common Stock.    Additional shares of our authorized common stock may be issued, as determined by the board of directors of our company from time to time, without approval of holders of our common stock, except as may be required by applicable law or the rules of any stock exchange or automated quotation system on which our securities may be listed or traded.

Preferred Stock

        Our certificate of incorporation provides that we may issue up to 1,000,000 shares of our preferred stock in one or more series as may be determined by our board of directors.

        Our board of directors has broad discretionary authority with respect to the rights of issued series of our preferred stock and may take several actions without any vote or action of the holders of our common stock, including:

    determining the number of shares to be included in each series;

    fixing the designation, powers, preferences and relative rights of the shares of each series and any qualifications, limitations or restrictions with respect to each series, including provisions related to dividends, conversion, voting, redemption and liquidation, which may be superior to those of our common stock; and

    increasing or decreasing the number of shares of any series.

        The board of directors may authorize, without approval of holders of our common stock, the issuance of preferred stock with voting and conversion rights that could adversely affect the voting power and other rights of holders of our common stock. For example, our preferred stock may rank prior to our common stock as to dividend rights, liquidation preferences or both, may have full or limited voting rights and may be convertible into shares of our common stock. The number of authorized shares of our preferred stock may be increased or decreased (but not below the number of shares then outstanding) by the affirmative vote of the holders of at least a majority of our common stock, without a vote of the holders of any other class or series of our preferred stock unless required by the terms of such class or series of preferred stock.

        Our preferred stock could be issued quickly with terms designed to delay or prevent a change in the control of our company or to make the removal of our management more difficult. This could have the effect of discouraging third-party bids for our common stock or may otherwise adversely affect the market price of our common stock.

        We believe that the ability of our board of directors to issue one or more series of our preferred stock will provide us with flexibility in structuring possible future financings and acquisitions, and in meeting other corporate needs that might arise. The authorized shares of our preferred stock, as well as shares of our common stock, will be available for issuance without action by our common stockholders, unless such action is required by applicable law or the rules of any stock exchange or automated quotation system on which our securities may be listed or traded.

        Although our board of directors has no intention at the present time of doing so, it could issue a series of our preferred stock that could, depending on the terms of such series, be used to implement a stockholder rights plan or otherwise impede the completion of a merger, tender offer or other takeover attempt of our company. Our board of directors could issue preferred stock having terms that could discourage an acquisition attempt through which an acquiror may be able to change the composition of the board of directors, including a tender offer or other transaction that some, or a majority, of our stockholders might believe to be in their best interests or in which stockholders might receive a premium for their stock over the then current market price.

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Composition of Board of Directors; Election and Removal of Directors

        In accordance with our bylaws, the number of directors comprising our board of directors will be as determined from time to time by our board of directors. We currently have eight directors. Each director is to hold office until his or her successor is duly elected and qualified. Directors are elected for a term that will expire at the annual meeting of stockholders immediately succeeding their election.

        Directors may be removed from office with or without cause by the affirmative vote of the holders of at least a majority of the voting power of all then-outstanding shares of our capital stock that are entitled to vote generally in the election of our directors, voting together as a single class. Subject to the rights of the holders of any series of preferred stock, our certificate of incorporation provides that in the case of any vacancies among the directors such vacancy will be filled with a candidate approved by the vote of a majority of the remaining directors, even if less than a quorum (and not by stockholders).

        The filling of vacancies could have the effect of making it more difficult for a third party to acquire, or of discouraging a third party from attempting to acquire, control of us.

        At any meeting of our board of directors, a majority of the total number of directors then in office will constitute a quorum for all purposes.

Stockholder Action

        Stockholders may act by written consent, without a meeting and without notice or a vote. This provision enables stockholders to act on matters subject to a stockholder vote without waiting until the next annual or special meeting of stockholders.

Special Meetings of Stockholders

        Our certificate of incorporation provides that special meetings of the stockholders may be called at any time by the board of directors, the chairman of the board of directors or the holders of at least 20% of the outstanding shares of our common stock.

Section 203 of the Delaware General Corporation Law

        Our company is subject to Section 203 of the Delaware General Corporation Law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a "business combination" with an "interested stockholder" for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. A "business combination" includes a merger, asset sale or other transaction resulting in a financial benefit to the interested stockholder. An "interested stockholder" is a person who, together with affiliates and associates, owns (or, in some cases, within three years prior, did own) 15% or more of the corporation's voting stock. Under Section 203, a business combination between the corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

    the board of directors must have previously approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

    upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced (excluding, for purposes of determining the number of our shares outstanding, shares owned by (a) persons who are directors and also officers and (b) employee stock plans, in some instances); or

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    the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

        The existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance by our board of directors, including discouraging takeover attempts that might result in a premium over the market price for the shares of our common stock.

Other Anti-Takeover Provisions of Our Certificate of Incorporation and Bylaws

        Our certificate of incorporation and bylaws contain several provisions, in addition to those pertaining to the issuance of additional shares of our authorized common stock and preferred stock without the approval of the holders of our common stock that could delay or make more difficult the acquisition of our company through a hostile tender offer, open market purchases, proxy contest, merger or other takeover attempt that a stockholder might consider in his or her best interest, including those attempts that might result in a premium over the market price of our common stock. Such provisions, which are described below, include advance notice procedures regarding any proposal of stockholder business to be discussed at a stockholders meeting.

        Advance Notice Procedure for Director Nominations and Stockholder Proposals.    Our bylaws provide that, subject to the rights of holders of any outstanding shares of our preferred stock, a stockholder may nominate one or more persons for election as directors at a meeting only if written notice of the stockholder's nomination has been given, either by personal delivery or certified mail, to our corporate secretary not less than 120 days nor more than 150 days before the first anniversary of the date of our proxy statement in connection with our last annual meeting of stockholders. Each notice must contain:

    the name, age, business address and, if known, residential address of each nominee;

    the principal occupation or employment of each nominee;

    a statement of the particular experience, qualifications, attributes or skills of the proposed nominee;

    the class, series and number of our shares beneficially owned by each nominee;

    any other information relating to each nominee required by the SEC's proxy rules; and

    the written consent of each nominee to be named in our proxy statement and to serve as director if elected.

        Our corporate secretary will deliver all notices to the nominating committee of our board of directors for review. After review, the nominating committee will make its recommendation regarding nominees to our board of directors. Defective nominations will be disregarded.

        For business to be properly brought before an annual meeting by a stockholder, the stockholder must have given timely notice of the proposed business in writing to our corporate secretary. To be timely, a stockholder's notice must be given, either by personal delivery or by certified mail, to our corporate secretary not less than 120 days nor more than 150 days before the first anniversary of the date of our proxy statement in connection with our last annual meeting of stockholders. Each notice must contain:

    a brief description of the business desired to be brought before the annual meeting and the reasons for conducting the business at the annual meeting;

    the name and address of the stockholder proposing the business as they appear on our stock transfer books;

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    a representation that the stockholder is a stockholder of record and intends to appear in person or by proxy at the annual meeting to bring the business proposed in the notice before the meeting;

    the class, series and number of our shares beneficially owned by the stockholder; and

    any material interest of the stockholder in the business.

        Business brought before an annual meeting without complying with these provisions will not be transacted.

        Although our bylaws do not give the board the power to approve or disapprove stockholder nominations of candidates or proposals regarding other business to be conducted at a special or annual meeting, our bylaws may have the effect of precluding the consideration of some business at a meeting if the proper procedures are not followed or may discourage or defer a potential acquiror from conducting a solicitation of proxies to elect its own slate of directors or otherwise attempting to obtain control of us.

Amendment of Our Certificate of Incorporation

        The affirmative vote of the holders of at least a majority of the voting power of all then-outstanding shares of our capital stock that are entitled to vote generally in the election of our directors, voting together as a single class, is required to amend, alter, change or repeal the provisions of our certificate of incorporation.

Amendment of Our Bylaws

        Our certificate of incorporation provides that our bylaws can be amended only by either our board of directors or the affirmative vote of the holders of at least a majority of the voting power of all then-outstanding shares of our capital stock that are entitled to vote generally in the election of our directors, voting together as a single class.

Limitation of Liability and Indemnification

        Our certificate of incorporation provides that, to the full extent from time to time permitted by law, no director shall be personally liable for monetary damages for breach of any duty as a director. As required under current Delaware law, our certificate of incorporation currently provides that this waiver may not apply to liability:

    for any breach of the director's duty of loyalty to us or our stockholders;

    for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law;

    under Section 174 of the Delaware General Corporation Law (pertaining to certain prohibited act including unlawful payment of dividends or unlawful purchase or redemption of our capital stock); or

    for any transaction from which the director derived any improper personal benefit.

        However, in the event the Delaware General Corporation Law is amended to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of our directors will be eliminated or limited to the fullest extent permitted by the Delaware General Corporation Law, as so amended. Neither the amendment or repeal of this provision of our certificate of incorporation, nor the adoption of any provision of our certificate of incorporation which is inconsistent with this provision, shall eliminate or reduce the protection afforded by this provision with respect to any matter which occurred, or any suit or claim which, but for this provision would have accrued or arisen, prior to such amendment, repeal or adoption.

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        Our bylaws also provide that we shall, to the fullest extent from time to time permitted by law, indemnify our directors and officers against all liabilities and expenses in any suit or proceeding, arising out of their status as an officer or director or their activities in these capacities. Our bylaws also require us to indemnify any person who, at our request, is or was serving as a director, officer or trustee of another corporation, joint venture, employee benefit plan trust or other enterprise.

        The right to be indemnified includes the right of an officer or a director to be paid expenses in advance of the final disposition of any proceeding, if we receive an undertaking to repay such amount if it shall be determined that he or she is not entitled to be indemnified.

        Our board of directors may take such action as it deems necessary to carry out these indemnification provisions, including adopting procedures for determining and enforcing indemnification rights and purchasing insurance policies. Our board of directors may also adopt bylaws, resolutions or contracts implementing indemnification arrangements as may be permitted by law. Neither the amendment or repeal of these indemnification provisions, nor the adoption of any provision of our certificate of incorporation inconsistent with these indemnification provisions, shall eliminate or reduce any rights to indemnification relating to their status or any activities prior to such amendment, repeal or adoption.

        We believe these provisions will assist in attracting and retaining qualified individuals to serve as directors.

Listing

        Our shares of common stock are listed on the New York Stock Exchange under the trading symbol "BGS."

Transfer Agent and Registrar

        The transfer agent and registrar for our common stock is Computershare Trust Company, N.A.


DESCRIPTION OF DEBT SECURITIES

        As used in this prospectus, debt securities means the debentures, notes, bonds and other evidences of indebtedness that we may issue from time to time. The debt securities may be either secured or unsecured and will either be our senior debt securities or our subordinated debt securities. The debt securities may be issued under the indenture, dated as of June 4, 2013, between us and the Bank of New York Mellon, as trustee, or may be issued under an indenture to be entered into between us and one or more trustees named in the applicable prospectus supplement, a form of which is attached as an exhibit to the registration statement of which this prospectus forms a part. Any debt securities that we issue under this prospectus will be governed by the applicable indenture and a separate supplemental indenture setting out the particular terms of a series of debt securities.

        This section describes certain general terms and provisions that we expect would be applicable to our debt securities. When we offer to sell a particular series of debt securities, we will describe the specific terms of that series in a supplement to this prospectus. The following description of debt securities will apply to the debt securities offered by this prospectus unless we provide otherwise in the applicable prospectus supplement. The applicable prospectus supplement for a particular series of debt securities may specify different or additional terms.

        The statements and descriptions in this prospectus or in any prospectus supplement regarding provisions of the indentures and debt securities are summaries thereof, do not purport to be complete and are subject to, and are qualified in their entirety by reference to, all of the provisions of the indentures (and any amendments or supplements we may enter into from time to time which are

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permitted under each indenture) and the debt securities, including the definitions therein of certain terms.

General

        Unless otherwise specified in a prospectus supplement, the debt securities will be direct unsecured obligations of B&G Foods. The senior debt securities will rank equally with any of our other senior and unsubordinated debt. The subordinated debt securities will be subordinate and junior in right of payment to any senior indebtedness.

        Unless otherwise specified in a prospectus supplement, the indentures do not limit the aggregate principal amount of debt securities that we may issue and provide that we may issue debt securities from time to time at par or at a discount, and in the case of the new indentures, if any, in one or more series, with the same or various maturities. Unless indicated in a prospectus supplement, we may issue additional debt securities of a particular series without the consent of the holders of the debt securities of such series outstanding at the time of the issuance. Any such additional debt securities, together with all other outstanding debt securities of that series, will constitute a single series of debt securities under the applicable indenture.

        Each prospectus supplement will describe the terms relating to the specific series of debt securities being offered. These terms will include some or all of the following:

    the title of debt securities and whether they are subordinated debt securities or senior debt securities;

    any limit on the aggregate principal amount of the debt securities;

    the ability to issue additional debt securities of the same series;

    the price or prices at which we will sell the debt securities;

    whether the debt securities of the series will be guaranteed and the terms of any such guarantee;

    the maturity date or dates of the debt securities;

    the rate or rates of interest, if any, which may be fixed or variable, at which the debt securities will bear interest, or the method of determining such rate or rates, if any;

    the date or dates from which any interest will accrue or the method by which such date or dates will be determined;

    the right, if any, to extend the interest payment periods and the duration of any such deferral period, including the maximum consecutive period during which interest payment periods may be extended;

    whether the amount of payments of principal of (and premium, if any) or interest on the debt securities may be determined with reference to any index, formula or other method, such as one or more currencies, commodities, equity indices or other indices, and the manner of determining the amount of such payments;

    the dates on which we will pay interest on the debt securities and the regular record date for determining who is entitled to the interest payable on any interest payment date;

    the place or places where the principal of (and premium, if any) and interest on the debt securities will be payable, where any securities may be surrendered for registration of transfer, exchange or conversion, as applicable, and notices and demands may be delivered to or upon us pursuant to the indenture;

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    if we possess the option to do so, the periods within which and the prices at which we may redeem the debt securities, in whole or in part, pursuant to optional redemption provisions, and the other terms and conditions of any such provisions;

    our obligation, if any, to redeem, repay or purchase debt securities by making periodic payments to a sinking fund or through an analogous provision or at the option of holders of the debt securities, and the period or periods within which and the price or prices at which we will redeem, repay or purchase the debt securities, in whole or in part, pursuant to such obligation, and the other terms and conditions of such obligation;

    the denominations in which the debt securities will be issued, if other than denominations of $2,000 and integral multiples of $1,000 in excess thereof;

    the portion, or methods of determining the portion, of the principal amount of the debt securities which we must pay upon the acceleration of the maturity of the debt securities in connection with an event of default (as described below), if other than the full principal amount;

    the currency, currencies or currency unit in which we will pay the principal of (and premium, if any) or interest, if any, on the debt securities, if not U.S. dollars;

    provisions, if any, granting special rights to holders of the debt securities upon the occurrence of specified events;

    any deletions from, modifications of or additions to the events of default or our covenants with respect to the applicable series of debt securities, and whether or not such events of default or covenants are consistent with those contained in the applicable indenture;

    any limitation on our ability to incur debt, redeem shares, sell our assets or other restrictions;

    the application, if any, of the terms of the indenture relating to defeasance and covenant defeasance (which terms are described below) to the debt securities;

    whether the subordination provisions summarized below or different subordination provisions will apply to the debt securities;

    the terms, if any, upon which the holders may convert or exchange the debt securities into or for our common stock, preferred stock or other securities or property;

    whether any of the debt securities will be issued in global form and, if so, the terms and conditions upon which global debt securities may be exchanged for certificated debt securities;

    any change in the right of the trustee or the requisite holders of debt securities to declare the principal amount thereof due and payable because of an event of default;

    the depository for global or certificated debt securities;

    any special tax implications of the debt securities;

    any trustees, authenticating or paying agents, transfer agents or registrars, or other agents with respect to the debt securities; and

    any other terms of the debt securities not inconsistent with the provisions of the applicable indenture, as amended or supplemented.

        Unless otherwise specified in the applicable prospectus supplement, the debt securities will not be listed on any securities exchange.

        Unless otherwise specified in the applicable prospectus supplement, the debt securities will be issued in fully-registered form without coupons.

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        Debt securities may be sold at a substantial discount below their stated principal amount or bearing no interest or interest at a rate which at the time of issuance is below market rates. The applicable prospectus supplement will describe the federal income tax consequences and special considerations applicable to any such debt securities. The debt securities may also be issued as indexed securities or securities denominated in foreign currencies, currency units or composite currencies, as described in more detail in the prospectus supplement relating to any of the particular debt securities.

Guarantees

        Debt securities may be guaranteed by certain of our domestic subsidiaries if so provided in the applicable prospectus supplement. The prospectus supplement will describe the terms of any guarantees, including, among other things, the method for determining the identity of the guarantors and the conditions under which guarantees will be added or released. Any guarantees will be joint and several obligations of the guarantors. The obligations of each guarantor under its guarantee will be limited as necessary to prevent that guarantee from constituting a fraudulent conveyance or fraudulent transfer under applicable law.

Subordination

        The prospectus supplement relating to any offering of subordinated debt securities will describe the specific subordination provisions. However, unless otherwise noted in the prospectus supplement, subordinated debt securities will be subordinate and junior in right of payment to any existing senior indebtedness.

        Unless otherwise specified in the applicable prospectus supplement, under the applicable indenture, "senior indebtedness" means all amounts due on obligations in connection with any of the following, whether outstanding at the date of execution of the applicable indenture, or thereafter incurred or created:

    the principal of (and premium, if any) and interest due on our indebtedness for borrowed money and indebtedness evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

    all of our capital lease obligations or attributable debt (as will be defined in the applicable indenture) in respect of sale and leaseback transactions;

    all obligations representing the balance deferred and unpaid of the purchase price of any property or services, which purchase price is due more than six months after the date of placing such property in service or taking delivery and title thereto, except any such balance that constitutes an accrued expense or trade payable or any similar obligation to trade creditors;

    all of our obligations in respect of interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest rate collar agreements; other agreements or arrangements designed to manage interest rates or interest rate risk; and other agreements or arrangements designed to protect against fluctuations in currency exchange rates or commodity prices;

    all obligations of the types referred to above of other persons for the payment of which we are responsible or liable as obligor, guarantor or otherwise; and

    all obligations of the types referred to above of other persons secured by any lien on any property or asset of ours (whether or not such obligation is assumed by us).

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        However, senior indebtedness does not include:

    any indebtedness which expressly provides that such indebtedness shall not be senior in right of payment to the subordinated debt securities, or that such indebtedness shall be subordinated to any other of our indebtedness, unless such indebtedness expressly provides that such indebtedness shall be senior in right of payment to the subordinated debt securities;

    any of our obligations to our subsidiaries or of a subsidiary guarantor to us or any other of our other subsidiaries;

    any liability for federal, state, local or other taxes owed or owing by us or any subsidiary guarantor;

    any accounts payable or other liability to trade creditors arising in the ordinary course of business (including guarantees thereof or instruments evidencing such liabilities);

    any obligations with respect to any capital stock;

    any indebtedness incurred in violation of the applicable indenture, provided that indebtedness under our credit facilities will not cease to be senior indebtedness under this bullet point if the lenders of such indebtedness obtained an officer's certificate as of the date of incurrence of such indebtedness to the effect that such indebtedness was permitted to be incurred by the indenture; and

    any of our indebtedness in respect of the subordinated debt securities.

        Senior indebtedness shall continue to be senior indebtedness and be entitled to the benefits of the subordination provisions irrespective of any amendment, modification or waiver of any term of such senior indebtedness.

        Unless otherwise noted in an accompanying prospectus supplement, if we default in the payment of any principal of (or premium, if any) or interest on any senior indebtedness when it becomes due and payable, whether at maturity or at a date fixed for prepayment or by declaration or otherwise, then, unless and until such default is cured or waived or ceases to exist, we will make no direct or indirect payment (in cash, property, securities, by set-off or otherwise) in respect of the principal of or interest on the subordinated debt securities or in respect of any redemption, retirement, purchase or other requisition of any of the subordinated debt securities.

        In the event of the acceleration of the maturity of any subordinated debt securities, the holders of all senior debt securities outstanding at the time of such acceleration, subject to any security interest, will first be entitled to receive payment in full of all amounts due on the senior debt securities before the holders of the subordinated debt securities will be entitled to receive any payment of principal (and premium, if any) or interest on the subordinated debt securities.

        If any of the following events occurs, we will pay in full all senior indebtedness before we make any payment or distribution under the subordinated debt securities, whether in cash, securities or other property, to any holder of subordinated debt securities:

    any dissolution or winding-up or liquidation or reorganization of B&G Foods, whether voluntary or involuntary or in bankruptcy, insolvency or receivership;

    any general assignment by us for the benefit of creditors; or

    any other marshaling of our assets or liabilities.

        In such event, any payment or distribution under the subordinated debt securities, whether in cash, securities or other property, which would otherwise (but for the subordination provisions) be payable or deliverable in respect of the subordinated debt securities, will be paid or delivered directly to the

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holders of senior indebtedness in accordance with the priorities then existing among such holders until all senior indebtedness has been paid in full. If any payment or distribution under the subordinated debt securities is received by the trustee of any subordinated debt securities in contravention of any of the terms of the applicable indenture and before all the senior indebtedness has been paid in full, such payment or distribution will be received in trust for the benefit of, and paid over or delivered and transferred to, the holders of the senior indebtedness at the time outstanding in accordance with the priorities then existing among such holders for application to the payment of all senior indebtedness remaining unpaid to the extent necessary to pay all such senior indebtedness in full.

        Unless otherwise indicated in an applicable prospectus supplement, the applicable indenture will not limit the issuance of additional senior indebtedness.

        Unless otherwise indicated in an applicable prospectus supplement, if any series of subordinated debt securities is guaranteed by certain of our subsidiaries, then the guarantee will be subordinated to the senior indebtedness of such guarantor to the same extent as the subordinated debt securities are subordinated to the senior indebtedness.

Consolidation, Merger, Sale of Assets and Other Transactions

        Unless an accompanying prospectus supplement states otherwise, we may not (1) merge with or into or consolidate with another corporation or sell, assign, transfer, lease or convey all or substantially all of our properties and assets to, any other corporation other than a direct or indirect wholly-owned subsidiary of ours, and (2) no corporation may merge with or into or consolidate with us or, except for any direct or indirect wholly-owned subsidiary of ours, sell, assign, transfer, lease or convey all or substantially all of its properties and assets to us, unless:

    we are the surviving corporation or the corporation formed by or surviving such merger or consolidation or to which such sale, assignment, transfer, lease or conveyance has been made, if other than us, has expressly assumed by supplemental indenture all of our obligations under the applicable indenture;

    immediately after giving effect to such transaction, no default or event of default has occurred and is continuing;

    we or the corporation formed by or surviving such merger or consolidation or to which such sale, assignment, transfer, lease or conveyance has been made (if other than us) would, on the date of such transaction after giving pro forma effect to the transaction and any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter period, either:

    be permitted to incur at least $1.00 of additional indebtedness pursuant to the fixed charge coverage ratio test set forth in the applicable indenture; or

    have a fixed charge coverage ratio that is equal to or greater than our fixed charge coverage ratio immediately prior to the consolidation, merger, sale, assignment, transfer, conveyance or other disposition; and

    we deliver to the trustee an officers' certificate and an opinion of counsel, each stating that the supplemental indenture complies with the applicable indenture.

Events of Default, Notice and Waiver

        Unless an accompanying prospectus supplement states otherwise, the following shall constitute "events of default" under the applicable indenture with respect to each series of debt securities:

    we default for 30 consecutive days in the payment when due of interest on the debt securities;

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    we default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if any, on the debt securities;

    our failure to observe or perform any other of our covenants or agreements with respect to such debt securities for 60 days after we receive notice of such failure;

    except as permitted by the applicable indenture, if debt securities are guaranteed, any guarantee shall be held in any judicial proceeding to be unenforceable or invalid or shall cease for any reason to be in full force and effect or any guarantor, or any person acting on behalf of any guarantor, shall deny, or disaffirm its obligations under its guarantee;

    certain events of bankruptcy, insolvency or reorganization of B&G Foods; or

    any other event of default provided with respect to securities of that series.

        Unless an accompanying prospectus supplement states otherwise, if an event of default with respect to any debt securities of any series outstanding under any indenture shall occur and be continuing, the trustee under such indenture or the holders of at least 25% (or at least 10%, in respect of a remedy (other than acceleration) for certain events of default relating to the payment of dividends) in aggregate principal amount of the debt securities of that series outstanding may declare, by notice as provided in the applicable indenture, the principal amount (or such lesser amount as may be provided for in the debt securities of that series) of all the debt securities of that series outstanding to be due and payable immediately; provided that, in the case of an event of default involving certain events in bankruptcy, insolvency or reorganization, acceleration is automatic; and, provided further, that after such acceleration, but before a judgment or decree based on acceleration, the holders of a majority in aggregate principal amount of the outstanding debt securities of that series may, under certain circumstances, rescind and annul such acceleration if all events of default, other than the nonpayment of accelerated principal, have been cured or waived. Upon the acceleration of the maturity of original issue discount securities, an amount less than the principal amount thereof will become due and payable. Reference is made to the prospectus supplement relating to any original issue discount securities for the particular provisions relating to acceleration of maturity thereof.

        Any past default under an indenture with respect to debt securities of any series, and any event of default arising therefrom, may be waived by the holders of a majority in principal amount of all debt securities of such series outstanding under such indenture, except in the case of (1) default in the payment of the principal of (or premium, if any) or interest on any debt securities of such series or (2) certain events of default relating to the payment of dividends.

        The trustee is required within 90 days after the occurrence of a default (which is known to the trustee and is continuing), with respect to the debt securities of any series (without regard to any grace period or notice requirements), to give to the holders of the debt securities of such series notice of such default.

        The trustee, subject to its duties during default to act with the required standard of care, may require indemnification satisfactory to it by the holders of the debt securities of any series with respect to which a default has occurred before proceeding to exercise any right or power under the applicable indenture at the request of the holders of the debt securities of such series. Subject to such right of indemnification and to certain other limitations, the holders of a majority in principal amount of the outstanding debt securities of any series under any indenture may direct the time, method and place of conducting any proceeding for any remedy available to the trustee, or exercising any trust or power conferred on the trustee with respect to the debt securities of such series, provided that such direction shall not be in conflict with any rule of law or with the applicable indenture and the trustee may take any other action deemed proper by the trustee which is not inconsistent with such direction.

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        No holder of a debt security of any series may institute any action against us under any indenture (except actions for payment of overdue principal of (and premium, if any) or interest on such debt security or for the conversion or exchange of such debt security in accordance with its terms) unless (1) the holder has given to the trustee written notice of an event of default and of the continuance thereof with respect to the debt securities of such series specifying an event of default, as required under the applicable indenture, (2) the holders of at least 25% in aggregate principal amount of the debt securities of that series then outstanding under such indenture shall have requested the trustee to institute such action and offered to the trustee indemnity reasonably satisfactory to it against the costs, expenses and liabilities to be incurred in compliance with such request; (3) the trustee shall not have instituted such action within 60 days of such request and (4) no direction inconsistent with such written request has been given to the trustee during such 60-day period by the holders of a majority in principal amount of the debt securities of that series.

        We will be required to furnish annually to the trustee statements as to our compliance with all conditions and covenants under each indenture.

Discharge, Defeasance and Covenant Defeasance

        We may discharge or defease our obligations under each indenture as set forth below, unless otherwise indicated in the applicable prospectus supplement.

        We or, if applicable, any guarantor may discharge certain obligations to holders of any series of debt securities issued under any indenture which have not already been delivered to the trustee for cancellation by irrevocably depositing with the trustee money in an amount sufficient to pay and discharge the entire indebtedness on such debt securities not previously delivered to the trustee for cancellation, for principal and any premium and interest to the date of such deposit (in the case of debt securities which have become due and payable) or to the stated maturity or redemption date, as the case may be, and we or, if applicable, any guarantor, have paid all other sums payable under the applicable indenture.

        If indicated in the applicable prospectus supplement, we, or, if applicable, the guarantors, may elect either (1) to defease and be discharged from any and all obligations with respect to the debt securities of or within any series and all obligations with respect to guarantees in the case of guarantors (except in all cases as otherwise provided in the relevant indenture) ("legal defeasance") or (2) to be released from our obligations with respect to certain covenants applicable to the debt securities of or within any series ("covenant defeasance"), upon the deposit with the relevant indenture trustee, in trust for such purpose, of money and/or government obligations which through the payment of principal and interest in accordance with their terms will provide money in an amount sufficient to pay the principal of (and premium, if any) or interest on such debt securities to maturity or redemption, as the case may be, and any mandatory sinking fund or analogous payments thereon. As a condition to legal defeasance or covenant defeasance, we must deliver to the trustee an opinion of counsel to the effect that the holders of such debt securities will not recognize income, gain or loss for federal income tax purposes as a result of such legal defeasance or covenant defeasance and will be subject to federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such legal defeasance or covenant defeasance had not occurred. Such opinion of counsel, in the case of legal defeasance under clause (i) above, must refer to and be based upon a ruling of the Internal Revenue Service or a change in applicable federal income tax law occurring after the date of the relevant indenture. In addition, in the case of either legal defeasance or covenant defeasance, we shall have delivered to the trustee (1) if applicable, an officer's certificate to the effect that the relevant debt securities exchange(s) have informed us that neither such debt securities nor any other debt securities of the same series, if then listed on any securities exchange, will be delisted as a result of such deposit and (2) an officer's certificate and an opinion of counsel, each stating that all conditions precedent with respect to such legal defeasance or covenant defeasance have been complied with.

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        We may exercise our legal defeasance option with respect to such debt securities notwithstanding our prior exercise of our covenant defeasance option.

Modification and Waiver

        Under the applicable indenture, unless an accompanying prospectus supplement states otherwise, we and the applicable trustee may supplement the indenture for certain purposes which would not materially adversely affect the interests or rights of the holders of debt securities of a series without the consent of those holders. We and the applicable trustee may also modify the indenture or any supplemental indenture in a manner that affects the interests or rights of the holders of debt securities with the consent of the holders of at least a majority in aggregate principal amount of the outstanding debt securities of each affected series issued under the indenture. However, the indenture will require the consent of each holder of debt securities that would be affected by any modification which would:

    reduce the principal amount of debt securities whose holders must consent to an amendment, supplement or waiver;

    reduce the principal of or change the fixed maturity of any debt security or, except as provided in any prospectus supplement, alter or waive any of the provisions with respect to the redemption of the debt securities;

    reduce the rate of or change the time for payment of interest, including default interest, on any debt security;

    waive a default or event of default in the payment of principal of or interest or premium, if any, on, the debt securities (except a rescission of acceleration of the debt securities by the holders of at least a majority in aggregate principal amount of the then outstanding debt securities and a waiver of the payment default that resulted from such acceleration);

    make any debt security payable in money other than that stated in the debt securities;

    make any change in the provisions of the applicable indenture relating to waivers of past defaults or the rights of holders of the debt securities to receive payments of principal of, or interest or premium, if any, on, the debt securities;

    waive a redemption payment with respect to any debt security (except as otherwise provided in the applicable prospectus supplement);

    except in connection with an offer by us to purchase all debt securities, (1) waive certain events of default relating to the payment of dividends or (2) amend certain covenants relating to the payment of dividends and the purchase or redemption of certain equity interests;

    release any applicable guarantor from any of its obligations under its guarantee or the indenture, except in accordance with the indenture;

    make any change to the subordination or ranking provisions of the indenture or the related definitions that adversely affect the rights of any holder; or

    make any change in the preceding amendment and waiver provisions.

        The indenture will permit the holders of at least a majority in aggregate principal amount of the outstanding debt securities of any series issued under the indenture which is affected by the modification or amendment to waive our compliance with certain covenants contained in the indenture.

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Payment and Paying Agents

        Unless otherwise indicated in the applicable prospectus supplement, payment of interest on a debt security on any interest payment date will be made to the person in whose name a debt security is registered at the close of business on the applicable record date.

        Unless otherwise indicated in the applicable prospectus supplement, principal, interest and premium on the debt securities of a particular series will be payable at the office of such paying agent or paying agents as we may designate for such purpose from time to time. Notwithstanding the foregoing, at our option, payment of any interest may be made by check mailed to the address of the person entitled thereto as such address appears in the security register.

        Unless otherwise indicated in the applicable prospectus supplement, a paying agent designated by us will act as paying agent for payments with respect to debt securities of each series. All paying agents initially designated by us for the debt securities of a particular series will be named in the applicable prospectus supplement. We may at any time designate additional paying agents or rescind the designation of any paying agent or approve a change in the office through which any paying agent acts, except that we will be required to maintain a paying agent in each place of payment for the debt securities of a particular series.

        All moneys paid by us to a paying agent for the payment of the principal, interest or premium on any debt security which remain unclaimed at the end of two years after such principal, interest or premium has become due and payable will be repaid to us upon request, and the holder of such debt security thereafter may look only to us for payment thereof.

Denominations, Registrations and Transfer

        Unless an accompanying prospectus supplement states otherwise, debt securities will be represented by one or more global certificates registered in the name of a nominee for The Depository Trust Company, or DTC. In such case, each holder's beneficial interest in the global securities will be shown on the records of DTC and transfers of beneficial interests will only be effected through DTC's records.

        A holder of debt securities may only exchange a beneficial interest in a global security for certificated securities registered in the holder's name if:

    we deliver to the trustee notice from DTC that it is unwilling or unable to continue to act as depository or that it is no longer a clearing agency registered under the Securities Exchange Act of 1934, as amended (the Exchange Act) and, in either case, a successor depositary is not appointed by us within 120 days after the date of such notice from DTC;

    we in our sole discretion determine that the debt securities (in whole but not in part) should be exchanged for definitive debt securities and deliver a written notice to such effect to the trustee; or

    there has occurred and is continuing a default or event of default with respect to the debt securities.

        If debt securities are issued in certificated form, they will only be issued in the minimum denomination specified in the accompanying prospectus supplement and integral multiples of such denomination. Transfers and exchanges of such debt securities will only be permitted in such minimum denomination. Transfers of debt securities in certificated form may be registered at the trustee's corporate office or at the offices of any paying agent or trustee appointed by us under the applicable indenture. Exchanges of debt securities for an equal aggregate principal amount of debt securities in different denominations may also be made at such locations.

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Governing Law

        Each indenture and applicable debt securities will be governed by, and construed in accordance with, the internal laws of the State of New York, without regard to its principles of conflicts of laws.

Trustee

        The trustee under each indenture will be set forth in any applicable prospectus supplement.

Conversion or Exchange Rights

        The prospectus supplement will describe the terms, if any, on which a series of debt securities may be convertible into or exchangeable for our common stock, preferred stock or other debt securities. These terms will include provisions as to whether conversion or exchange is mandatory, at the option of the holder or at our option. These provisions may allow or require the number of shares of our common stock or other securities to be received by the holders of such series of debt securities to be adjusted.


DESCRIPTION OF WARRANTS

        The following description, together with the additional information we may include in any applicable prospectus supplements, summarizes the material terms and provisions of the warrants that we may offer under this prospectus and the related warrant agreements and warrant certificates. While the terms summarized below will apply generally to any warrants that we may offer, we will describe the particular terms of any series of warrants in more detail in the applicable prospectus supplement. If we so indicate in the prospectus supplement, the terms of any warrants offered under that prospectus supplement may differ from the terms described below. Specific warrant agreements will contain additional important terms and provisions and will be incorporated by reference into the registration statement which includes this prospectus.

General

        We may issue warrants for the purchase of common stock, preferred stock and/or debt securities in one or more series. We may issue warrants independently or together with common stock, preferred stock and/or debt securities, and the warrants may be attached to or separate from these securities.

        We will evidence each series of warrants by warrant certificates that we may issue under a separate agreement. We may enter into the warrant agreement with a warrant agent. Each warrant agent may be a bank that we select which has its principal office in the United States and a combined capital and surplus of at least $50,000,000. We will indicate the name and address of any such warrant agent in the applicable prospectus supplement relating to a particular series of warrants.

        We will describe in the applicable prospectus supplement the terms of the series of warrants, including:

    the offering price and aggregate number of warrants offered;

    the currency for which the warrants may be purchased, if not U.S. dollars;

    if applicable, the designation and terms of the securities with which the warrants are issued and the number of warrants issued with each such security or each principal amount of such security;

    if applicable, the date on and after which the warrants and the related securities will be separately transferable;

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    in the case of warrants to purchase debt securities, the principal amount of debt securities purchasable upon exercise of one warrant and the price at, and currency, if not U.S. dollars, in which, this principal amount of debt securities may be purchased upon such exercise;

    in the case of warrants to purchase common stock or preferred stock, the number of shares of common stock or preferred stock, as the case may be, purchasable upon the exercise of one warrant and the price at which these shares may be purchased upon such exercise;

    the effect of any merger, consolidation, sale or other disposition of our business on the warrant agreement and the warrants;

    the terms of any rights to redeem or call the warrants;

    any provisions for changes to or adjustments in the exercise price or number of securities issuable upon exercise of the warrants;

    the dates on which the right to exercise the warrants will commence and expire;

    the manner in which the warrant agreement and warrants may be modified;

    federal income tax consequences of holding or exercising the warrants;

    the terms of the securities issuable upon exercise of the warrants; and

    any other specific terms, preferences, rights or limitations of or restrictions on the warrants.

        Before exercising their warrants, holders of warrants will not have any of the rights of holders of the securities purchasable upon such exercise, including:

    in the case of warrants to purchase debt securities, the right to receive payments of principal of, or premium, if any, or interest on, the debt securities purchasable upon exercise or to enforce covenants in the applicable indenture; or

    in the case of warrants to purchase common stock or preferred stock, the right to receive dividends, if any, or, payments upon our liquidation, dissolution or winding up or to exercise voting rights, if any.

Exercise of Warrants

        Each warrant will entitle the holder to purchase the securities that we specify in the applicable prospectus supplement at the exercise price that we describe in the applicable prospectus supplement. Unless we otherwise specify in the applicable prospectus supplement, holders of the warrants may exercise the warrants at any time up to 5:00 P.M. Eastern Time on the expiration date that we set forth in the applicable prospectus supplement. After the close of business on the expiration date, unexercised warrants will become void.

        Holders of the warrants may exercise the warrants by delivering the warrant certificate representing the warrants to be exercised together with specified information, and paying the required amount to the warrant agent in immediately available funds, as provided in the applicable prospectus supplement. We will set forth on the reverse side of the warrant certificate and in the applicable prospectus supplement the information that the holder of the warrant will be required to deliver to the warrant agent.

        Upon receipt of the required payment and the warrant certificate properly completed and duly executed at the corporate trust office of the warrant agent or any other office indicated in the applicable prospectus supplement, we will issue and deliver the securities purchasable upon such exercise. If fewer than all of the warrants represented by the warrant certificate are exercised, then we will issue a new warrant certificate for the remaining amount of warrants. If we so indicate in the

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applicable prospectus supplement, holders of the warrants may surrender securities as all or part of the exercise price for warrants.

Enforceability of Rights by Holders of Warrants

        Any warrant agent will act solely as our agent under the applicable warrant agreement and will not assume any obligation or relationship of agency or trust with any holder of any warrant. A single bank or trust company may act as warrant agent for more than one issue of warrants. A warrant agent will have no duty or responsibility in case of any default by us under the applicable warrant agreement or warrant, including any duty or responsibility to initiate any proceedings at law or otherwise, or to make any demand upon us. Any holder of a warrant may, without the consent of the related warrant agent or the holder of any other warrant, enforce by appropriate legal action its right to exercise, and receive the securities purchasable upon exercise of, its warrants.

        If a warrant holder exercises only part of the warrants represented by a single certificate, the warrant agent will issue a new warrant certificate for any warrants not exercised. Unless the prospectus supplement states otherwise, no fractional shares will be issued upon exercise of warrants, but we will pay the cash value of any fractional shares otherwise issuable.

        The exercise price and the number of shares of common stock for which each warrant can be exercised will be adjusted upon the occurrence of events described in the warrant agreement, including the issuance of a common stock dividend or a combination, subdivision or reclassification of common stock.

        Unless the prospectus supplement states otherwise, no adjustment will be required until cumulative adjustments require an adjustment of at least 1% in the exercise price. From time to time, we may reduce the exercise price as may be provided in the warrant agreement.

        Unless the prospectus supplement states otherwise, if we enter into any consolidation, merger, or sale or conveyance of our property as an entirety, the holder of each outstanding warrant will have the right to acquire the kind and amount of shares, other securities, property or cash receivable by a holder of the number of shares of common stock into which the warrants were exercisable immediately prior to the occurrence of the event.

Modification of the Warrant Agreement

        The warrant agreements may permit us and the warrant agent, if any, without the consent of the warrant holders, to supplement or amend the agreement in the following circumstances:

    to cure any ambiguity;

    to correct or supplement any provision which may be defective or inconsistent with any other provisions; or

    to add new provisions regarding matters or questions that we and the warrant agent may deem necessary or desirable and which do not adversely affect the interests of the warrant holders.


DESCRIPTION OF UNITS

        We may issue units comprised of one or more of the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date or occurrence.

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        The applicable prospectus supplement may describe:

    the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

    any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and

    whether the units will be issued in fully-registered or global form.

        The applicable prospectus supplement will describe the terms of any units. The preceding description and any description of units in the applicable prospectus supplement does not purport to be complete and is subject to and is qualified in its entirety by reference to the unit agreement and, if applicable, collateral arrangements and depository arrangements relating to such units.


PLAN OF DISTRIBUTION

        We may sell the securities described in this prospectus through underwriters or dealers, through agents, or directly to one or more purchasers or through a combination of these methods. The applicable prospectus supplement will describe the terms of the offering of the securities, including:

    the name or names of any underwriters and, if required, any dealers or agents;

    the purchase price of the securities and the proceeds we will receive from the sale;

    any underwriting discounts and other items constituting underwriters' compensation;

    any discounts or concessions allowed or reallowed or paid to dealers; and

    any securities exchange or market on which the securities may be listed.

        We may distribute the securities from time to time in one or more transactions at:

    a fixed price or prices, which may be changed;

    market prices prevailing at the time of sale;

    varying prices determined at the time of sale related to such prevailing market prices; or

    negotiated prices.

        Offerings of our equity securities pursuant to this prospectus may also be made into an existing trading market for such securities in transactions at other than a fixed price, either:

    on or through the facilities of any national securities exchange or quotation service on which such securities may be listed or quoted at the time of sale; or

    to or through a market maker otherwise than on such exchanges.

Such at-the-market offerings will be conducted by underwriters acting as our principal or agent, who may also be third-party sellers of securities as described above.

        Only underwriters named in the prospectus supplement will be underwriters of the securities offered by the prospectus supplement. If we use underwriters in the sale, they will acquire the securities for their own account and may resell the securities from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. We may offer the securities to the public through underwriting syndicates represented by managing underwriters or by underwriters without a syndicate. Any public offering price and any discounts or concessions allowed or reallowed or paid to dealers may change from time to time.

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        We may sell the securities directly. In this case, no underwriters or agents would be involved. We may also sell the securities through agents we designate from time to time. We will name any agent involved in the offering and sale of securities and we will describe any commissions we will pay the agent in the prospectus supplement.

        We may authorize agents or underwriters to solicit offers by institutional investors to purchase securities from us at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. We will describe the conditions to these contracts and the commissions we must pay for solicitation of these contracts in the prospectus supplement.

        In addition, we may sell some or all of the securities covered by this prospectus through:

    purchases by a dealer, as principal, who may then resell those securities to the public for its account at varying prices determined by the dealer at the time of resale;

    block trades in which a dealer will attempt to sell as agent, but may position or resell a portion of the block, as principal, in order to facilitate the transaction; or

    ordinary brokerage transactions and transactions in which a broker-dealer solicits purchasers.

We will include in the applicable prospectus supplement the names of any dealers and the terms of the transaction.

        In connection with the sale of the securities, underwriters, dealers or agents may receive compensation from us or from purchasers of the securities for whom they act as agents in the form of discounts, concessions or commissions. Underwriters may sell the securities to or through dealers, and those dealers may receive compensation in the form of discounts, concessions or commissions from the underwriters or commissions from the purchasers for whom they may act as agents. Underwriters, dealers and agents that participate in the distribution of the securities, and any institutional investors or others that purchase securities directly and then resell the securities, may be deemed to be underwriters, and any discounts or commissions received by them from us and any profit on the resale of the securities by them may be deemed to be underwriting discounts and commissions under the Securities Act of 1933, as amended (the Securities Act).

        We may provide agents and underwriters with indemnification against particular civil liabilities, including liabilities under the Securities Act, or contribution with respect to payments that the agents or underwriters may make with respect to such liabilities. Agents and underwriters may engage in transactions with, or perform services for, us in the ordinary course of business.

        In addition, we may enter into derivative transactions with third parties (including the writing of options), or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with such a transaction, the third parties may, pursuant to this prospectus and the applicable prospectus supplement, sell securities covered by this prospectus and the applicable prospectus supplement. If so, the third party may use securities borrowed from us or others to settle such sales and may use securities received from us to close out any related short positions. We may also loan or pledge securities covered by this prospectus and the applicable prospectus supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged securities pursuant to this prospectus and the applicable prospectus supplement. The third party in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement or in a post-effective amendment.

        Offered securities may also be offered and sold, if so indicated in the applicable prospectus supplement, in connection with a remarketing upon their purchase, in accordance with a redemption or repayment pursuant to their terms, or otherwise, by one or more remarketing firms, acting as principals

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for their own accounts or as agents for us. Any remarketing firm will be identified and the terms of its agreements, if any, with us and its compensation will be described in the applicable prospectus supplement.

        To facilitate an offering of a series of securities, persons participating in the offering may engage in transactions that stabilize, maintain, or otherwise affect the market price of the securities. This may include over-allotments or short sales of the securities, which involves the sale by persons participating in the offering of more securities than have been sold to them by us. In those circumstances, such persons would cover such over-allotments or short positions by purchasing in the open market or by exercising the over-allotment option granted to those persons. In addition, those persons may stabilize or maintain the price of the securities by bidding for or purchasing securities in the open market or by imposing penalty bids, whereby selling concessions allowed to underwriters or dealers participating in any such offering may be reclaimed if securities sold by them are repurchased in connection with stabilization transactions. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level above that which might otherwise prevail in the open market. Such transactions, if commenced, may be discontinued at any time. We make no representation or prediction as to the direction or magnitude of any effect that the transactions described above, if implemented, may have on the price of our securities.

        Some or all of the securities that we offer through this prospectus may be new issues of securities with no established trading market. Any underwriters to whom we sell our securities for public offering and sale may make a market in those securities, but they will not be obligated to do so and they may discontinue any market making at any time without notice. Accordingly, we cannot assure you of the liquidity of, or continued trading markets for, any securities that we offer.


RATIO OF EARNINGS TO FIXED CHARGES

        Our ratio of earnings to fixed charges for each of the five most recently completed fiscal years and any required interim periods will each be specified in a prospectus supplement or in a document we file with the SEC and incorporate by reference pertaining to the issuance, if any, by us of debt securities in the future.


LEGAL MATTERS

        In connection with particular offerings of our securities in the future, unless otherwise stated in the applicable prospectus supplement, the validity of those securities will be passed upon for us by Dechert LLP, Philadelphia, Pennsylvania. If the securities are being distributed in an underwritten offering, certain legal matters will be passed upon for the underwriters by counsel identified in the related prospectus supplement.


EXPERTS

        The consolidated financial statements and schedule of B&G Foods, Inc. and subsidiaries as of January 2, 2016 and January 3, 2015, and for the years ended January 2, 2016, January 3, 2015 and December 28, 2013, and management's assessment of the effectiveness of internal control over financial reporting as of January 2, 2016 have been incorporated by reference herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing. KPMG's report dated March 2, 2016, on the effectiveness of B&G Foods, Inc.'s internal control over financial reporting as of January 2, 2016, contains an explanatory paragraph that states that management excluded from its assessment of the effectiveness of B&G Foods, Inc.'s internal control over financial reporting as of January 2, 2016, Green Giant's internal control over financial reporting representing 33.0% of total assets and 11.0% of net sales included in the consolidated financial statements of B&G Foods, Inc. and

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subsidiaries as of and for the fiscal year ended January 2, 2016. KPMG's audit of internal control over financial reporting of B&G Foods, Inc. also excluded an evaluation of the internal control over financial reporting of the Green Giant business.

        The statements of net assets to be sold of the General Mills Green Giant business as May 1, 2015 and May 25, 2014 and the related statements of revenue and direct operating expenses for the fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013 have been incorporated by reference herein and in the registration statement in reliance upon the report of KPMG LLC, independent auditors, incorporated by reference herein, and upon the authority of said experts in accounting and auditing.


WHERE YOU CAN FIND MORE INFORMATION

        We are subject to the informational requirements of the Exchange Act. In accordance with the Exchange Act, we file periodic reports, proxy statements and information statements and other information with the Securities and Exchange Commission.

        We have filed with the SEC a registration statement on Form S-3 under the Securities Act with respect to the securities offered hereby. This prospectus does not contain all of the information set forth in the registration statement and the exhibits and schedules to the registration statement. For further information with respect to our company and the securities offered hereby, reference is made to the registration statement and the exhibits and schedules filed as a part of the registration statement. Statements contained in this prospectus concerning the contents of any contract or any other document are not necessarily complete; reference is made in each instance to the copy of such contract or any other document filed as an exhibit to the registration statement. Each such statement is qualified in all respects by such reference to such exhibit.

        You may read and copy the registration statement, the related exhibits and the reports, proxy statements and other information we file with the SEC at the SEC's public reference facilities maintained by the SEC at 100 F Street, NE, Washington, DC 20549. You can also request copies of those documents, upon payment of a duplicating fee, by writing to the SEC. Please call the SEC at 1.800.SEC.0330 for further information on the operation of the public reference rooms. The SEC also maintains a website at www.sec.gov that contains reports, proxy and information statements and other information regarding issuers that file with the SEC. B&G Foods' SEC filings are also available to the public, free of charge, from our website at www.bgfoods.com.

        We will furnish without charge to each person to whom a copy of this prospectus is delivered, upon written or oral request, a copy of any and all of these filings (except exhibits, unless they are specifically incorporated by reference into this prospectus). Please direct any requests for copies to:

B&G Foods, Inc.
Four Gatehall Drive
Parsippany, NJ 07054
Attention: Corporate Secretary
Telephone: 973.401.6500
Fax: 973.630.6550


INCORPORATION BY REFERENCE

        The SEC allows us to incorporate by reference in this prospectus the information we file with the SEC, which means that we can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be a part of this prospectus. We incorporate by reference in this prospectus the information contained in the following documents

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(other than any portions of the respective filings that were furnished under applicable SEC rules rather than filed):

    our annual report on Form 10-K for the fiscal year ended January 2, 2016 filed on March 2, 2016;

    our quarterly reports on Form 10-Q for the quarter ended April 2, 2016 filed on May 5, 2016 and the quarter ended July 2, 2016 filed on August 4, 2016;

    our current reports on Form 8-K filed on November 6, 2015 (as amended by Amendment No. 1 to such Form 8-K, filed on January 19, 2016), March 11, 2016, May 27, 2016 and each current report on Form 8-K filed on March 15, 2016; and

    the description of our common stock contained in our registration statement on Form 8-A (Registration No. 001-32316) filed on May 16, 2007, as amended by Item 5.03 of our Current Report on Form 8-K filed on August 13, 2010, and including any future amendment or report filed for the purpose of updating such description.

        We are also incorporating by reference all other reports that we will file with the SEC pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act (other than any portions of the respective filings that will be furnished under applicable SEC rules rather than filed) after the date of this prospectus and prior to the completion of the offering of any securities covered by this prospectus. The information that we file with the SEC after the date of this prospectus and prior to the completion of the offering of any securities covered by this prospectus will update and supersede the information contained in this prospectus and incorporated filings. You will be deemed to have notice of all information incorporated by reference in this prospectus as if that information was included in this prospectus.

        You may obtain copies of these documents from us, free of cost, by contacting us at the address or telephone number provided in "Where You Can Find More Information" immediately above.

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PART II

INFORMATION NOT REQUIRED IN PROSPECTUS

Item 14.    Other Expenses of Issuance and Distribution

        The following table sets forth the estimated fees and expenses of the sale and distribution of the securities being registered under this registration statement, other than any underwriting discounts and commissions, all of which shall be borne by B&G Foods.

 
  Amount  

SEC Registration Fee

  $              *

Accounting Fees and Expenses

      **

Legal Fees and Expenses

      **

Transfer Agent and Registrar Fees and Expenses

      **

Printing and Engraving Expenses

      **

Rating Agency Fees

      **

Trustees Fees and Expenses

      **

Miscellaneous Fees and Expenses

      **

Total

  $   **

*
Pursuant to SEC Rules 456(b) and 457(r) under the Securities Act, the SEC registration fee will be paid at the time of any particular offering of securities under the registration statement, and is therefore not currently determinable.

**
These fees and expenses depend on the types of securities offered and the number of offerings and, accordingly, cannot be estimated at this time.

Item 15.    Indemnification of Directors and Officers

    B&G Foods, Inc.

        Under Section 145 of the Delaware General Corporation Law, B&G Foods may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of B&G Foods) by reason of the fact that such person is or was a director, officer, employee, or agent of B&G Foods, or is or was serving at the request of B&G Foods as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of B&G Foods and, with respect to any criminal action or proceeding, had no reasonable cause to believe such person's conduct was unlawful.

        In addition, under Section 145, B&G Foods may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of B&G Foods to procure a judgment in its favor by reason of the fact that such person is or was a director, officer, employee or agent of B&G Foods, or is or was serving at the request of B&G Foods as a director, officer, employee or agent of B&G Foods, or is or was serving at the request of B&G Foods as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection with the defense or settlement of such action or suit if such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of B&G Foods and except that no indemnification shall be made in respect of any claim, issue or matter

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as to which such person shall have been adjudged to be liable to B&G Foods unless and only to the extent that the Delaware Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Delaware Court of Chancery or such other court shall deem proper.

        Section 145 also provides that to the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to above, or defense of any claim issue or matter therein, such person shall be indemnified against expenses (including attorney's fees) actually and reasonably incurred by such person in connection therewith.

        Furthermore, Section 145 provides that nothing in the above-described provisions shall be deemed exclusive of any other rights to indemnification or advancement of expenses to which any person may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise.

        Under Section 102(b)(7) of the Delaware General Corporation Law, B&G Foods may in its certificate of incorporation eliminate or limit the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director except for liability: (i) for any breach of the director's duty of loyalty to the corporation or its stockholders; (ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; (iii) under Section 174 of the Delaware General Corporation Law (pertaining to certain prohibited acts including unlawful payment of dividends or unlawful purchase or redemption of the corporation's capital stock); or (iv) for any transaction from which the director derived an improper personal benefit.

        Our certificate of incorporation provides that our directors shall be entitled to the benefits of all limitations on the liability of directors generally permissible under Delaware law.

        In addition, our bylaws provide for the indemnification of our directors and officers to the fullest extent permitted under Delaware law as in effect from time to time and by our certificate of incorporation.

        As permitted by our certificate of incorporation and bylaws, we have purchased and we maintain directors' and officers' liability insurance policies to insure our directors and officers against certain liabilities.

Subsidiary Guarantor Registrants

    B&G Foods North America, Inc., B&G Foods Snacks, Inc. and Spartan Foods Holding Company—Delaware Corporation Guarantor Registrants

        Each of B&G Foods North America, Inc., B&G Foods Snacks, Inc. and Spartan Foods Holding Company are authorized under their organizational documents to indemnify their directors and officers for expenses and liabilities arising out of any proceeding to the extent permitted by Section 145 of the Delaware General Corporation Law. For a description of Section 145 of the Delaware General Corporation Law, see above under "Item 15. Indemnification of Directors and Officers—B&G Foods, Inc." on page II-1.

    Bear Creek Country Kitchens, LLC and Pirate Brands, LLC—Delaware Limited Liability Company Guarantor Registrants

        The following description applies to each of Bear Creek Country Kitchens, LLC and Pirate Brands, LLC (which we refer to as the LLC guarantor registrants). Section 18-303(a) of the Delaware Limited Liability Company Act (DLLCA) provides that, except as otherwise provided by the DLLCA, the debts, obligations and liabilities of a limited liability company shall be solely the limited liability

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company's, and no member or manager of a limited liability company shall be obligated personally for any such debt, obligation or liability solely by reason of being a member or acting as a manager. Section 18-108 of the DLLCA states that subject to such standards and restrictions, if any, as set forth in its limited liability company agreement, a limited liability company has the power to indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever. The limited liability company agreements of each of the LLC guarantor registrants provide for the indemnification of B&G Foods North America, Inc., the sole member of each of the LLC guarantor registrants, and such other persons identified by the sole member in writing for all costs, losses, liabilities and damages paid or accrued in connection with the business of the applicable LLC guarantor registrant, to the fullest extent permitted by law.

    Spartan Foods of America, Inc.—South Carolina Corporation Guarantor Registrant

        The bylaws of Spartan Foods of America, Inc. provide that, to the extent permitted by law, any person who at any time serves or has served as a director, officer, employee or agent of Spartan Foods of America, Inc., at the request of Spartan Foods of America, Inc. as a director, officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust or other enterprise, or at the request of Spartan Foods of America, Inc. as the trustee or administrator under an employee benefit plan, shall have the right to be indemnified by Spartan Foods of America, Inc. for liabilities and expenses (i) incurred in any proceeding arising out of his or her status as such or activities in any of the foregoing capacities or (ii) that result from him or her being called as a witness at a time when he or she was not a named defendant or respondent to any proceeding.

    William Underwood Company—Massachusetts Business Trust Registrant

        The declaration of trust of the William Underwood Company provides that, to the extent permitted by law, the William Underwood Company shall indemnify and hold each of its trustees, officers, employees and agents (including any person who serves at its request as director, officer or trustee of another organization in which it has any interest as a shareholder, creditor or otherwise), against liabilities and expenses, including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees, reasonably incurred by him or her in connection with defense or disposition of any action, suit or other proceeding by the William Underwood Company or any other person or entity, whether civil or criminal, in which he or she may be involved with or with which he or she may be threatened, while in office or thereafter, by reason of his or her being or having been a trustee, officer, employee or agent. No indemnification shall be made, however, with respect to any matter as to which the trustee, officer, employee or agent shall have been adjudicated to have acted in bad faith or with willful misconduct or reckless disregard of his or her duties or gross negligence or not to have acted in good faith in the reasonable belief that his or her action was in the best interests of the William Underwood Company.

Item 16.    Exhibits

        The Exhibits to this registration statement are listed in the Exhibit Index beginning on page II-10, which is incorporated herein by reference.

Item 17.    Undertakings

        (a)   The undersigned registrant hereby undertakes:

    (1)
    To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

    (i)
    To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;

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      (ii)
      To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement; and

      (iii)
      To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

      provided, however, that paragraphs (1)(i), (1)(ii) and (1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

    (2)
    That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

    (3)
    To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

    (4)
    That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser:

    (i)
    Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

    (ii)
    Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the

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        registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date.

    (5)
    That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

    (i)
    Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

    (ii)
    Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

    (iii)
    The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

    (iv)
    Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

        (b)   The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

        (c)   Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than a payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

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SIGNATURES

        Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Parsippany, New Jersey, on the 8th day of August, 2016.

    B&G FOODS, INC.

 

 

By:

 

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins
Executive Vice President of Finance and Chief Financial Officer (Principal Financial and Accounting Officer)

 

 

B&G FOODS NORTH AMERICA, INC.
B&G FOODS SNACKS, INC.
BEAR CREEK COUNTRY KITCHENS, LLC
PIRATE BRANDS, LLC
SPARTAN FOODS HOLDING COMPANY
SPARTAN FOODS OF AMERICA, INC.
WILLIAM UNDERWOOD COMPANY

 

 

By:

 

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins
Executive Vice President of Finance and Chief Financial Officer (Principal Financial and Accounting Officer)

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SIGNATURES AND POWER OF ATTORNEY

        KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Robert C. Cantwell, Thomas P. Crimmins and Scott E. Lerner, and each of them, as his true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement and sign any registration statement (or amendment thereto) for the same offering covered by the Registration Statement that is to be effective upon filing pursuant to Rule 462 promulgated under the Securities Act of 1933, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

        Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.


B&G FOODS, INC.

Signature
 
Title
 
Date

 

 

 

 

 
/s/ ROBERT C. CANTWELL

Robert C. Cantwell
  President, Chief Executive Officer and Director (Principal Executive Officer)   August 8, 2016

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins

 

Executive Vice President of Finance and Chief Financial Officer (Principal Financial and Accounting Officer)

 

August 8, 2016

/s/ STEPHEN C. SHERRILL

Stephen C. Sherrill

 

Chairman of the Board of Directors

 

August 8, 2016

/s/ DEANN L. BRUNTS

DeAnn L. Brunts

 

Director

 

August 8, 2016

/s/ CHARLES F. MARCY

Charles F. Marcy

 

Director

 

August 8, 2016

/s/ DENNIS M. MULLEN

Dennis M. Mullen

 

Director

 

August 8, 2016

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Signature
 
Title
 
Date

 

 

 

 

 
/s/ CHERYL M. PALMER

Cheryl M. Palmer
  Director   August 8, 2016

/s/ ALFRED POE

Alfred Poe

 

Director

 

August 8, 2016

/s/ DAVID L. WENNER

David L. Wenner

 

Director

 

August 8, 2016


B&G FOODS NORTH AMERICA, INC.
B&G FOODS SNACKS, INC.
SPARTAN FOODS HOLDING COMPANY
SPARTAN FOODS OF AMERICA, INC.

Signature
 
Title
 
Date

 

 

 

 

 
/s/ ROBERT C. CANTWELL

Robert C. Cantwell
  President, Chief Executive Officer and Director (Principal Executive Officer)   August 8, 2016

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins

 

Executive Vice President of Finance, Chief Financial Officer, Treasurer and Director (Principal Financial and Accounting Officer)

 

August 8, 2016

/s/ SCOTT E. LERNER

Scott E. Lerner

 

Executive Vice President, General Counsel, Secretary, Chief Compliance Officer and Director

 

August 8, 2016

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BEAR CREEK COUNTRY KITCHENS, LLC
PIRATE BRANDS, LLC

Signature
 
Title
 
Date

 

 

 

 

 
/s/ ROBERT C. CANTWELL

Robert C. Cantwell
  President and Chief Executive Officer (Principal Executive Officer)   August 8, 2016

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins

 

Executive Vice President of Finance, Chief Financial Officer and Treasurer (Principal Financial and Accounting Officer)

 

August 8, 2016

/s/ SCOTT E. LERNER

Scott E. Lerner

 

Executive Vice President, General Counsel, Secretary and Chief Compliance Officer

 

August 8, 2016


WILLIAM UNDERWOOD COMPANY

Signature
 
Title
 
Date

 

 

 

 

 
/s/ ROBERT C. CANTWELL

Robert C. Cantwell
  President, Chief Executive Officer and Trustee (Principal Executive Officer)   August 8, 2016

/s/ THOMAS P. CRIMMINS

Thomas P. Crimmins

 

Executive Vice President of Finance, Chief Financial Officer, Treasurer and Trustee (Principal Financial and Accounting Officer)

 

August 8, 2016

/s/ SCOTT E. LERNER

Scott E. Lerner

 

Trustee

 

August 8, 2016

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EXHIBIT INDEX

Exhibit No.   Description
1.1 * Form of underwriting agreement with respect to common stock, preferred stock, debt securities, warrants and/or units.
      
3.1 ** Second Amended and Restated Certificate of Incorporation of B&G Foods, Inc. (Filed as Exhibit 3.1 to B&G Foods' Current Report on Form 8-K filed on August 13, 2010, and incorporated by reference herein).
      
3.2 ** Bylaws of B&G Foods, Inc., as amended and restated through February 27, 2013 (Filed as Exhibit 3.1 to B&G Foods' Current Report on Form 8-K filed on March 4, 2013, and incorporated by reference herein).
      
3.3 + Certificate of Incorporation of B&G Foods North America, Inc., as amended
      
3.4 + Amended and Restated Bylaws of B&G Foods North America, Inc.
      
3.5 + Certificate of Incorporation of B&G Foods Snacks, Inc.
      
3.6 + Bylaws of B&G Foods Snacks, Inc.
      
3.7 + Certificate of Formation of Bear Creek Country Kitchens, LLC
      
3.8 + Third Amended and Restated Limited Liability Company Agreement of Bear Creek Country Kitchens, LLC
      
3.9 + Certificate of Formation of Pirate Brands, LLC, as amended
      
3.10 + Fifth Amended and Restated Limited Liability Company Agreement of Pirate Brands, LLC
      
3.11 + Certificate of Incorporation of Spartan Foods Holding Company
      
3.12 + Amended and Restated Bylaws of Spartan Foods Holding Company
      
3.13 + Articles of Incorporation of Spartan Foods of America, Inc., as amended
      
3.14 + Amended and Restated Bylaws of Spartan Foods of America, Inc.
      
3.15 + Amended and Restated Declaration of Trust of the William Underwood Company
      
3.16 + Bylaws of the William Underwood Company
      
4.1 ** Indenture, dated as of June 4, 2013, between B&G Foods, Inc. and The Bank of New York Mellon Trust Company, N.A., as trustee (Filed as Exhibit 4.1 to B&G Foods' Current Report on Form 8-K filed on June 4, 2013, and incorporated by reference herein)
      
4.2 ** First Supplemental Indenture, dated as of June 4, 2013, among B&G Foods, Inc., B&G Foods North America, Inc., B&G Foods Snacks, Inc., William Underwood Company, and The Bank of New York Mellon Trust Company, N.A., as trustee, relating to the 4.625% senior notes due 2021 (Filed as Exhibit 4.2 to B&G Foods' Current Report on Form 8-K filed on June 4, 2013, and incorporated by reference herein)
      
4.3 ** Form of 4.625% Senior Note due 2021 (included in Exhibit 4.2)
      
4.4 ** Form of stock certificate for common stock (Filed as Exhibit 4.1 to B&G Foods' Current Report on Form 8-K filed on August 13, 2010, and incorporated by reference herein).
      
4.5 * Certificate of designations for preferred stock, if any.
      
4.6 + Form of new indenture, if any.

   

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Table of Contents

Exhibit No.   Description
4.7 * Form of new debt securities, if any.
      
4.8 * Form of warrant agreement and warrant certificate, if any.
      
4.9 * Form of unit agreement and unit certificate, if any.
      
5.1 + Opinion of Dechert LLP.
      
12.1 + Computation of Ratio of Earnings to Fixed Charges.
      
23.1 + Consent of Dechert LLP (included in Exhibit 5.1).
      
23.2 + Consent of KPMG LLP, independent registered public accounting firm.
      
23.3 + Consent of KPMG LLP, independent auditors
      
24.1 + Power of Attorney (included on signature page).
      
25.1 ++ Statement of Eligibility of the Trustee on Form T-1 under the Trust Indenture Act of 1939, as amended.

*
To the extent applicable, to be filed by an amendment or as an exhibit to a document filed under the Securities Exchange Act and incorporated by reference herein.

**
Incorporated herein by reference to the indicated filing.

+
Filed herewith.

++
To the extent applicable, to be incorporated by reference from a subsequent filing in accordance with Section 305(b)(2) of the Trust Indenture Act of 1939, as amended.

II-11




Exhibit 3.3

 

 

STATE OF DELAWARE

 

SECRETARY OF STATE

 

DIVISION OF CORPORATIONS

 

FILED 04:30 PM 01/27/1999

 

991035401 - 2994388

 

CERTIFICATE OF INCORPORATION

 

OF

 

HERITAGE ACQUISITION CORP.

 

1.  Name. The name of the corporation is Heritage Acquisition Corp. (the “Corporation”).

 

2.  Registered Office and Registered Agent. The registered office of the Corporation in the State of Delaware is located at Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle. The name and address of the Corporation’s registered agent is The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801.

 

3.  Corporate Purposes. The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the “Corporation Law”).

 

4.  Authorized Capital. The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 1,000 shares of common stock, par value $.01 per share (the “Stock”).

 

The powers, preferences and rights and the qualifications, limitations and restrictions of the Stock are as set forth below:

 

(a)                                 Dividends. When, as and if dividends are declared on the Stock, whether payable in cash, in property or in securities of the Corporation, the holders of shares of the Stock shall be entitled to share equally, share for share, in such dividends.

 

(b)                                 Voting Rights. Except as otherwise provided by law and this Certificate of Incorporation, the holders of shares of the Stock shall be entitled to one vote per share on all matters to be voted on by the Stockholders of the Corporation.

 

(c)                                  No Pre-Emptive Rights. No holder of the Stock shall, except as provided herein, be entitled as a matter of right to subscribe for or purchase, or have any preemptive right with respect to, any part of any new or additional issue of stock of any class whatsoever, or of securities convertible into any stock of any class whatsoever, whether now or hereafter authorized and whether issued for cash or other consideration or by way of dividend.

 

5.  Management of Business. The following provisions are inserted for the management of the business and for the conduct of the affairs of the Corporation, and for further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders:

 

5.1. Bylaws. The original Bylaws of the Corporation shall be adopted by the sole incorporator. In furtherance and not in limitation of the powers conferred by statute, the Board of Directors is expressly authorized to adopt, amend or repeal the Bylaws of the Corporation.

 



 

5.2.  Number and Election of Directors. The number of directors from time to time shall be fixed by, or in the manner provided in, the Bylaws of the Corporation. The election of directors need not be by written ballot unless the Bylaws of the Corporation so provide.

 

6.  Indemnification by the Corporation: Liability of Directors. The directors of the Corporation shall be entitled to the benefits of all limitations on the liability of directors generally that are now or hereafter become available under the Corporation Law, and the Corporation shall indemnify all persons whom it is permitted to indemnify to the full extent permitted by Section 145 of the Corporation Law, as amended from time to time. Without limiting the generality of the foregoing, no director of the Corporation shall be liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit. Any repeal or modification of this Section 6 shall be prospective only, and shall not affect, to the detriment of any director, any limitation on the personal liability of a director of the Corporation existing at the time of such repeal or modification.

 

7.  Incorporator. The name and mailing address of the sole incorporator is as follows:

 

Name

 

Mailing Address

David J. Hengen

 

Dechert Price & Rhoads
30 Rockefeller Plaza
New York, New York 10112

 

The undersigned, being the sole incorporator hereinbefore named, for the purpose of forming a corporation pursuant to the General Corporation Law of the State of Delaware, does make this Certificate, hereby declaring and certifying that the facts herein stated are true, and accordingly has hereunto set his hand this 27th day of January, 1999.

 

 

/s/ David J. Hengen

 

David J. Hengen

 


 

 

 

State of Delaware

 

 

Secretary of State

 

 

Division of Corporations

 

 

Delivered 09:50 AM 02/23/2007

 

 

FILED 09:40 AM 02/23/2007

 

 

SPY 070212848 - 2994388 FILE

 

CERTIFICATE OF MERGER

 

MERGING

 

COWC ACQUISITION CORP.

 

WITH AND INTO

 

HERITAGE ACQUISITION CORP.

 

The undersigned corporation, organized and existing under and by virtue of the General Corporation Law of the State of Delaware, DOES HEREBY CERTIFY AS FOLLOWS:

 

FIRST: The name and state of incorporation of each of the constituent corporations to the merger (the “Constituent Corporations”) are as follows:

 

Name

 

State of Incorporation

 

 

 

COWC Acquisition Corp.

 

Delaware

Heritage Acquisition Corp.

 

Delaware

 

SECOND: That an Agreement and Plan of Merger, dated as of February 23, 2007 (the “Merger Agreement”), by and between COWC Acquisition Corp., a Delaware corporation, and Heritage Acquisition Corp., a Delaware corporation, providing for the merger of COWC Acquisition Corp. with and into Heritage Acquisition Corp., has been approved, adopted, certified, executed and acknowledged by each of the Constituent Corporations in accordance with the requirements of Section 251 of the General Corporation Law of the State of Delaware.

 

THIRD: That the name of the surviving corporation is Heritage Acquisition Corp. (the “Surviving Corporation”).

 

FOURTH: That the Certificate of Incorporation of Heritage Acquisition Corp. shall be the Certificate of Incorporation of the Surviving Corporation.

 

FIFTH: That the Constituent Parties intend that, for U.S. income tax purposes, the transaction contemplated by the Merger Agreement constitutes a reorganization under section 368(a)(1)(A) of the Internal Revenue Code, and the Constituent Parties have adopted the Merger Agreement as a Plan of Reorganization.

 

SIXTH: That an executed copy of the Merger Agreement is on file at the principal place of business of the Surviving Corporation at the following address: Four Gatehall Drive, Suite 110, Parsippany, NJ 07054.

 



 

SEVENTH: That a copy of the Merger Agreement will be furnished by the Surviving Corporation, on request, and without cost, to any stockholder of the Constituent Corporations.

 

SEVENTH: That this Certificate of Merger shall be effective as of February 25, 2007 at 12:01 a.m. Eastern Time.

 

[Signature Page Follows]

 

2



 

IN WITNESS WHEREOF, Heritage Acquisition Corp. has caused this Certificate of Merger to be executed this 23rd day of February, 2007.

 

 

HERITAGE ACQUISITION CORP.

 

 

 

 

 

 

 

By:

/s/ Robert Cantwell

 

 

Name:

Robert Cantwell

 

 

Title:

Executive Vice President of Finance and Assistant Secretary

 

3


 

State of Delaware

 

 

Secretary of State

 

 

Division of Corporations

 

 

Delivered 12:46 PM 12/28/2007

 

 

FILED 12:21 PM 12/28/2007

 

 

SRV 071370718 - 2994388 FILE

 

 

 

CERTIFICATE OF MERGER

 

OF

 

MAPLE GROVE FARMS OF VERMONT, INC.,

a Vermont corporation

 

AND

 

ORTEGA HOLDINGS INC.,

a Delaware corporation

 

WITH AND INTO

 

HERITAGE ACQUISITION CORP.,

a Delaware corporation

 

*******************

 

The undersigned corporation, organized and existing under and by virtue of the General Corporation Law of the State of Delaware, DOES HEREBY CERTIFY AS FOLLOWS:

 

FIRST: The name and state of incorporation of each of the constituent corporations to the merger (the “Constituent Corporations”) are as follows:

 

Name

 

State of Incorporation

 

 

 

Maple Grove Farms of Vermont, Inc.

 

Vermont

 

 

 

Ortega Holdings Inc.

 

Delaware

 

 

 

Heritage Acquisition Corp.

 

Delaware

 

SECOND: That an Agreement and Plan of Merger, dated as of December 26, 2007 (the “Merger Agreement”), by and between Maple Grove Farms of Vermont, Inc., Vermont corporation (“Maple Grove”), Ortega Holdings Inc., a Delaware corporation (Ortega”) and Heritage Acquisition Corp., a Delaware corporation, providing for the merger of Maple Grove and Ortega with and into Heritage Acquisition Corp., has been approved, adopted, certified, executed and acknowledged by each of the Constituent Corporations in accordance with the requirements of Sections 251 and 252 of the General Corporation Law of the State of Delaware and Chapter of 11 of the Business Corporation Act of the State of Vermont, as applicable.

 

THIRD: That the surviving corporation is Heritage Acquisition Corp., which will continue its existence as the surviving corporation under the name Burnham & Morrill Company (the “Surviving Corporation”).

 



 

FOURTH:   That the Certificate of Incorporation of Heritage Acquisition Corp. shall be the Certificate of Incorporation of the Surviving Corporation, except that the Certificate of Incorporation shall be amended by changing Section 1 thereof so that as amended Section 1 shall be and read as follows:

 

“1.       Name. The name of the corporation is Burnham & Morrill Company (the “Corporation”).”

 

FIFTH:   That the Constituent Parties intend that, for U.S. income tax purposes, the transaction contemplated by the Merger Agreement constitutes a reorganization under section 368(a)(1)(A) of the Internal Revenue Code, and the Constituent Parties have adopted the Merger Agreement as a Plan of Reorganization.

 

SIXTH:   That an executed copy of the Merger Agreement is on file at an office of the Surviving Corporation at the following address: Four Gatehall Drive, Suite 110, Parsippany, NJ 07054.

 

SEVENTH:   That a copy of the Merger Agreement will be furnished by the Surviving Corporation, on request, and without cost, to any stockholder of the Constituent Corporations.

 

EIGHTH:   The authorized capital stock of each Constituent Corporation that is a foreign corporation is as follows:

 

Name

 

Authorized Capital Stock

 

 

 

Maple Grove Farms of Vermont, Inc.

 

5,000 shares of Common Stock

 

NINTH:   That this Certificate of Merger shall be effective as of December 29, 2007 at 11:59 p.m. Eastern Time.

 

[Signature Page Follows]

 

2



 

IN WITNESS WHEREOF, Heritage Acquisition Corp. has caused this Certificate of Merger to be executed this 26th day of December, 2007.

 

 

HERITAGE ACQUISITION CORP.

 

 

 

 

 

 

 

By:

/s/ Robert Cantwell

 

 

Name:

Robert Cantwell

 

 

Title:

Executive Vice President of Finance

 

 

 

and Assistant Secretary

 

3


 

State of Delaware

 

 

Secretary of State

 

 

Division of Corporations

 

 

Delivered 12:12 PM 12/28/2009

 

 

FILED 12:12 PM 12/28/2009

 

 

SRV 091139178 - 2994388 FILE

 

 

 

CERTIFICATE OF MERGER

 

OF

 

POLANER, INC.,

a Delaware corporation

 

WITH AND INTO

 

BURNHAM & MORRILL COMPANY,
a Delaware corporation

 

*******************

 

The undersigned corporation, organized and existing under and by virtue of the General Corporation Law of the State of Delaware, DOES HEREBY CERTIFY AS FOLLOWS:

 

FIRST:   The name and state of incorporation of each of the constituent corporations to the merger (the “Constituent Corporations”) are as follows:

 

Name

 

State of Incorporation

 

 

 

Polaner, Inc.

 

Delaware

 

 

 

Burnham & Morrill Company

 

Delaware

 

SECOND:   That an Agreement and Plan of Merger, dated as of December 22, 2009 (the “Merger Agreement”), by and between Polaner, Inc., a Delaware corporation and Burnham & Morrill Company, a Delaware corporation, providing for the merger of Polaner, Inc. with and into Burnham & Morrill Company, has been approved, adopted, certified, executed and acknowledged by each of the Constituent Corporations in accordance with the requirements of Section 251 of the General Corporation Law of the State of Delaware.

 

THIRD:   That the surviving corporation is Burnham & Morrill Company (the “Surviving Corporation”).

 

FOURTH:   That the Certificate of Incorporation of Burnham & Morrill Company shall be the Certificate of Incorporation of the Surviving Corporation.

 

FIFTH:   That the Constituent Parties intend that, for U.S. income tax purposes, the transaction contemplated by the Merger Agreement constitutes a reorganization under section 368(a)(1)(A) of the Internal Revenue Code, and the Constituent Parties have adopted the Merger Agreement as a Plan of Reorganization.

 



 

SIXTH:   That an executed copy of the Merger Agreement is on file at an office of the Surviving Corporation at the following address: Four Gatehall Drive, Suite 110, Parsippany, NJ 07054.

 

SEVENTH:   That a copy of the Merger Agreement will be furnished by the Surviving Corporation, on request, and without cost, to any stockholder of the Constituent Corporations.

 

NINTH:   That this Certificate of Merger shall be effective as of December 31, 2009 at 11:59 p.m. Eastern Time.

 

[Signature Page Follows]

 

2



 

IN WITNESS WHEREOF, Burnham & Morrill Company has caused this Certificate of Merger to be executed this 22nd day of December, 2009.

 

 

BURNHAM & MORRILL COMPANY

 

 

 

 

 

 

 

By:

/s/ Robert Cantwell

 

 

Name:

Robert Cantwell

 

 

Title:

Executive Vice President of Finance

 

 

 

and Assistant Secretary

 

3


 

State of Delaware

 

 

Secretary of State

 

 

Division of Corporations

 

 

Delivered 03:03 PM 12/28/2010

 

 

FILED 03:03 PM 12/28/2010

 

 

SRV 101238938 - 2994388 FILE

 

 

 

CERTIFICATE OF MERGER

 

OF

 

BGH HOLDINGS, INC.,
a Delaware corporation

 

AND

 

BLOCH & GUGGENHEIMER, INC.,
a Delaware corporation

 

WITH AND INTO

 

BURNHAM & MORRILL COMPANY,
a Delaware corporation

 

*******************

 

The undersigned corporation, organized and existing under and by virtue of the General Corporation Law of the State of Delaware, DOES HEREBY CERTIFY AS FOLLOWS:

 

FIRST:   The name and state of incorporation of each of the constituent corporations to the merger (the “Constituent Corporations”) are as follows:

 

Name

 

State of Incorporation

 

 

 

BGH Holdings, Inc.

 

Delaware

 

 

 

Bloch & Guggenheimer, Inc.

 

Delaware

 

 

 

Burnham & Morrill Company

 

Delaware

 

SECOND: That an Agreement and Plan of Merger, dated as of December 28, 2010 (the “Merger Agreement”), by and between BGH Holdings, Inc., a Delaware corporation (“BGH”), Bloch & Guggenheimer, Inc., a Delaware corporation (“B&G”) and Burnham & Morrill Company, a Delaware corporation, providing for the merger of BGH and B&G with and into Burnham & Morrill Company, has been approved, adopted, certified, executed and acknowledged by each of the Constituent Corporations in accordance with the requirements of Section 251 of the General Corporation Law of the State of Delaware.

 

THIRD: That the surviving corporation is Burnham & Morrill Company, which will continue its existence as the surviving corporation under the name B&G Foods North America, Inc. (the “Surviving Corporation”).

 



 

FOURTH: That the Certificate of Incorporation of Burnham & Morrill Company shall be the Certificate of Incorporation of the Surviving Corporation, except that the Certificate of Incorporation shall be amended by changing Section 1 thereof so that as amended Section 1 shall be and read as follows:

 

“1.         Name. The name of the corporation is B&G Foods North America, Inc. (the “Corporation”).”

 

FIFTH: That the Constituent Parties intend that, for U.S. income tax purposes, the transaction contemplated by the Merger Agreement constitutes a reorganization under section 368(a)(1)(A) of the Internal Revenue Code, and the Constituent Parties have adopted the Merger Agreement as a Plan of Reorganization.

 

SIXTH: That an executed copy of the Merger Agreement is on file at an office of the Surviving Corporation at the following address: Four Gatehall Drive, Suite 110, Parsippany, NJ 07054.

 

SEVENTH: That a copy of the Merger Agreement will be furnished by the Surviving Corporation, on request, and without cost, to any stockholder of the Constituent Corporations.

 

EIGHTH: That this Certificate of Merger shall be effective as of December 31, 2010 at 11:59 p.m. Eastern Time.

 

[Signature Page Follows]

 

2



 

IN WITNESS WHEREOF, Burnham & Morrill Company has caused this Certificate of Merger to be executed this 28th day of December, 2010.

 

 

BURNHAM & MORRILL COMPANY

 

 

 

 

 

By:

/s/ Scott E. Lerner

 

 

Name:

Scott E. Lerner

 

 

Title:

Executive Vice President,

 

 

 

General Counsel and Secretary

 

3


 



Exhibit 3.4

 

AMENDED AND RESTATED BYLAWS

 

OF

 

HERITAGE ACQUISITION CORP.(1)

 

ARTICLE I

 

STOCKHOLDERS

 

1.1.                            Meetings.

 

1.1.1.                  Place.  Meetings of the stockholders shall be held at such place as may be designated by the board of directors.

 

1.1.2.                  Annual Meeting.  An annual meeting of the stockholders for the election of directors and for other business shall be held on such date and at such time as may be fixed by the board of directors.

 

1.1.3.                  Special Meetings.  Special meetings of the stockholders of the Company may be called at any time by the chief executive officer, the board of directors, or by the holders of a majority of the outstanding shares of stock of the Company entitled to vote at the meeting.

 

1.1.4.                  Quorum.  The presence, in person or by proxy, of the holders of a majority of the outstanding shares of stock of the Company entitled to vote on a particular matter shall constitute a quorum for the purpose of considering such matter.

 

1.1.5.                  Voting Rights.  Except as otherwise provided herein, in the certificate of incorporation or by law, every stockholder shall have the right at every meeting of stockholders to one vote for every share standing in the name of such stockholder on the books of the Company which is entitled to vote at such meeting.  Every stockholder may vote either in person or by proxy.

 

1.1.6.                  Notice of Meetings; Waiver.

 

(a)                                 Written or printed notice of the place, date and hour of the meeting of the stockholders, and, in the case of a special meeting, the purpose or purposes for which such meeting is called, shall be delivered not less than ten nor more than sixty days prior to the meeting, either personally or by mail, by or at the direction of the board of directors or person calling the meeting, to each stockholder of record entitled to vote at such meeting.  If such notice is mailed, it shall be deemed to have been delivered to a stockholder on the third day after it is deposited in the United States mail, postage prepaid, addressed to the stockholder at his or her address as it appears on the record of stockholders of the Company, or, if he or she shall have filed with the secretary of the Company a written request that notices to him or her be mailed to some other address, then directed to him or her at such other address.  Such further notice shall be given as may be required by law or otherwise provided herein.

 

(b)                                 No notice of any meeting of stockholders need be given to any stockholder who submits a signed waiver of notice, whether before or after the meeting.  Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in a written waiver of notice.  The attendance of any stockholder at a meeting of stockholders shall constitute a waiver of notice of such meeting, except when the stockholder attends a meeting for the express purpose

 


(1)  Amended and restated as of May 24, 2006.

 



 

of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting is not lawfully called or convened.

 

1.2.                            Stockholder Business and Nominations.

 

1.2.1.                  Annual Meetings of Stockholders.  Nominations of persons for election to the board of directors of the Company and the proposal of business to be considered by the stockholders at an annual meeting of stockholders may be made (i) by or at the direction of the board of directors or the chairman of the board, or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

1.2.2.                  Special Meetings of Stockholders.  Only such business as shall have been brought before the special meeting of the stockholders pursuant to the Company’s notice of meeting pursuant to Section 1.1.6 of these bylaws shall be conducted at such meeting.  Nominations of persons for election to the board of directors may be made at a special meeting of stockholders at which directors are to be elected pursuant to the Company’s notice of meeting (i) by or at the direction of the board of directors or the chairman of the board or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

ARTICLE II

 

DIRECTORS

 

2.1.                            Number and Term.  The number of directors shall be such as the board of directors may by resolution direct from time to time.  Except as otherwise provided in the certificate of incorporation or by law, at each meeting of the stockholders for the election of directors, provided a quorum is present, the directors shall be elected by a plurality of the votes cast in such election.  Each director shall hold office for a term that will expire at the annual meeting of stockholders immediately succeeding their election, and until his successor shall have been elected and shall qualify, or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.  The chairman of the board, if one be elected, shall be chosen from among the directors.

 

2.2.                            Meetings.

 

2.2.1.                  Place.  Meetings of the board of directors shall be held at such place as may be designated by the board or in the notice of the meeting.

 

2.2.2.                  Regular Meetings.  Regular meetings of the board of directors shall be held at such times as the board may designate.  Notice of regular meetings need not be given.

 

2.2.3.                  Special Meetings.  Special meetings of the board may be called by direction of the chief executive officer or any two members of the board on three days’ notice to each director, either personally or by mail, telegram or facsimile transmission.

 

2.2.4.                  Quorum.  A majority of all the directors in office shall constitute a quorum for the transaction of business at any meeting.

 

2.2.5.                  Voting.  Except as otherwise provided herein, in the certificate of incorporation or by law, the vote of a majority of the directors present at any meeting at which a quorum is present shall constitute the act of the board of directors.

 

2.2.6.                  Committees.  The board of directors may, by resolution adopted by a majority of the whole board, designate one or more committees, each committee to consist of one or more directors and

 

2



 

such alternate members (also directors) as may be designated by the board.  Unless otherwise provided herein, in the absence or disqualification of any member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another director to act at the meeting in the place of any such absent or disqualified member.  Except as otherwise provided herein, in the certificate of incorporation or by law, any such committee shall have and may exercise the powers of the full board of directors to the extent provided in the resolution of the board directing the committee.

 

ARTICLE III

 

OFFICERS

 

3.1.                            Election.  At its first meeting after each annual meeting of the stockholders, the board of directors shall elect a chief executive officer or president, treasurer, secretary and such other officers as it deems advisable.

 

3.2.                            Authority, Duties and Compensation.  The officers shall have such authority, perform such duties and serve for such compensation as may be determined by resolution of the board of directors.  Except as otherwise provided by board resolution, (i) the chief executive officer shall be the president of the Company, shall have general supervision over the business and operations of the Company, may perform any act and execute any instrument for the conduct of such business and operations and shall preside at all meetings of the board and stockholders, (ii) the other officers shall have the duties customarily related to their respective offices, and (iii) any vice president, or vice presidents in the order determined by the board, shall in the absence of the chief executive officer, have the authority and perform the duties of the chief executive officer.

 

ARTICLE IV

 

INDEMNIFICATION

 

4.1.                            Right to Indemnification.  The Company shall indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative by reason of the fact that such person is or was a director, officer or trustee of the Company, or is or was serving at the request of the Company as a director, officer or trustee of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise (hereinafter an “indemnitee”), against expenses (including attorneys’ fees), judgments, fines, ERISA excise taxes, penalties and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, to the fullest extent authorized by the Delaware General Corporation Law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to provide prior to such amendment) (“Delaware General Corporation Law”); provided, that, the Company shall not be required to indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by or in the right of the Company to procure a judgment in its favor unless such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company.  The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person seeking indemnification did not act in good faith and in a manner which such

 

3



 

person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that such person’s conduct was unlawful.

 

4.2.                            Advance of Expenses.  In addition to the right to indemnification conferred in Section 4.1 of this Article IV, expenses (including attorneys’ fees) incurred by an indemnitee in defending any civil, criminal, administrative or investigative action, suit or proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such indemnitee to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the Company as authorized in this Article IV.

 

4.3.                            Indemnification Not Exclusive; Inuring of Benefit.  The indemnification and advancement of expenses provided by, or granted pursuant to, the other Sections of this Article IV shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any law, the certificate of incorporation, these bylaws, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office, and shall inure to the benefit of the heirs, executors and administrators of any such person.

 

4.4.                            Insurance and Other Indemnfication.  The Company may purchase and maintain insurance on behalf of any person who is or was a director, officer, trustee, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.  The board of directors shall have the power to give other indemnification to the extent permitted by statute.

 

4.5.                            Employee or Agent.  The Company may, to the extent authorized from time to time by the board of directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of the Company to the fullest extent of the provisions of this Article IV with respect to the indemnification and advancement of expenses of directors, officers and trustees of the Company.

 

4.6.                            Certain Defined Terms.  For purposes of this Article IV, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, trustees, employees or agents, so that any person who is or was a director, officer, trustee, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Article IV with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued.

 

For purposes of this Article IV, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, trustee, employee or agent of the Company which imposes duties on, or involves service by, such director, officer, trustee, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan

 

4



 

shall be deemed to have acted in a manner not opposed to the best interests of the Company for purposes of this Article IV.

 

4.7.                            Contractual Obligation.  The indemnification and advancement of expenses provided by, or granted pursuant to, this Article IV shall be contract rights and shall continue as to a person who has ceased to be a director, officer, trustee employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.  Any amendment, alteration or repeal of this Article IV that adversely affects any right of an indemnitee or its successors shall be prospective only and shall not limit or eliminate any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment, alteration or repeal.

 

ARTICLE V

 

TRANSFER OF SHARE CERTIFICATES

 

Transfers of share certificates and the shares represented thereby shall be made on the books of the Company only by the registered holder or by duly authorized attorney.  Transfers shall be made only on surrender of the share certificate or certificates.

 

ARTICLE VI

 

AMENDMENTS

 

These bylaws may be amended or repealed by (i) the affirmative vote of the holders of record of a majority of the outstanding shares of the stock of the Company entitled to vote in respect thereof, given at an annual meeting or at any special meeting, provided that notice of the proposed alteration or repeal or of the proposed new bylaws be included in the notice of such meeting, or (ii) the affirmative vote of a majority of the members of the board of directors, at any regular or special meeting of the board of directors.

 

5




Exhibit 3.5

 

CERTIFICATE OF INCORPORATION

 

OF

 

B&G FOODS SNACKS, INC.

 

1.                                      Name.  The name of the corporation is B&G Foods Snacks, Inc. (the “Corporation”).

 

2.                                      Registered Office and Registered Agent.  The registered office of the Corporation in the State of Delaware is to be located at 160 Greentree Drive, Suite 101, in the City of Dover, County of Kent,  19904.  The Registered Agent in charge thereof is National Registered Agents, Inc.

 

3.                                      Corporate Purposes.  The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of the State of Delaware (the “Corporation Law”).

 

4.                                      Authorized Capital.  The total number of shares of all classes of capital stock which the Corporation shall have authority to issue is 1,000 shares of common stock, par value $0.01 per share (the “Stock”).

 

The powers, preferences and rights and the qualifications, limitations and restrictions of the Stock are as set forth below:

 

(a)                                 Dividends.  When, as and if dividends are declared on the Stock, whether payable in cash, in property or in securities of the Corporation, the holders of shares of the Stock shall be entitled to share equally, share for share, in such dividends.

 

(b)                                 Voting Rights.  Except as otherwise provided by law and this Certificate of Incorporation, the holders of shares of the Stock shall be entitled to one vote per share on all matters to be voted on by the Stockholders of the Corporation.

 

(c)                                  No Pre-Emptive Rights.  No holder of the Stock shall, except as provided herein, be entitled as a matter of right to subscribe for or purchase, or have any preemptive right with respect to, any part of any new or additional issue of stock of any class whatsoever, or of securities convertible into any stock of any class whatsoever, whether now or hereafter authorized and whether issued for cash or other consideration or by way of dividend.

 

5.                                      Management of Business.  The following provisions are inserted for the management of the business and for the conduct of the affairs of the Corporation, and for further definition, limitation and regulation of the powers of the Corporation and of its directors and stockholders:

 

5.1.                            Bylaws.  The original Bylaws of the Corporation shall be adopted by the sole incorporator.  In furtherance and not in limitation of the powers conferred by statute,

 



 

the Board of Directors is expressly authorized to adopt, amend or repeal the Bylaws of the Corporation.

 

5.2.                            Number and Election of Directors.  The number of directors from time to time shall be fixed by, or in the manner provided in, the Bylaws of the Corporation.  The election of directors need not be by written ballot unless the Bylaws of the Corporation so provide.

 

6.                                      Indemnification by the Corporation; Liability of Directors.  The directors of the Corporation shall be entitled to the benefits of all limitations on the liability of directors generally that are now or hereafter become available under the Corporation Law, and the Corporation shall indemnify all persons whom it is permitted to indemnify to the full extent permitted by Section 145 of the Corporation Law, as amended from time to time.  Without limiting the generality of the foregoing, no director of the Corporation shall be liable to the Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the Corporation Law, or (iv) for any transaction from which the director derived an improper personal benefit.  Any repeal or modification of this Section 6 shall be prospective only, and shall not affect, to the detriment of any director, any limitation on the personal liability of a director of the Corporation existing at the time of such repeal or modification.

 

7.                                      Incorporator.  The name and mailing address of the sole incorporator is as follows:

 

Name

 

Mailing Address

 

 

 

Brian P. Spitser

 

c/o B&G Foods, Inc.

 

 

Four Gatehall Drive, Suite 110

 

 

Parsippany, NJ 07054

 

The undersigned, being the sole incorporator hereinbefore named, for the purpose of forming a corporation pursuant to the General Corporation Law of the State of Delaware, does make this Certificate, hereby declaring and certifying that the facts herein stated are true, and accordingly has hereunto set his hand this 20th day of September, 2012.

 

 

/s/ Brian P. Spitser

 

Brian P. Spitser

 

2




Exhibit 3.6

 

BYLAWS

 

OF

 

B&G FOODS SNACKS, INC.

 

ARTICLE I

 

STOCKHOLDERS

 

1.1.                            Meetings.

 

1.1.1.                  Place.  Meetings of the stockholders shall be held at such place as may be designated by the board of directors.

 

1.1.2.                  Annual Meeting.  An annual meeting of the stockholders for the election of directors and for other business shall be held on such date and at such time as may be fixed by the board of directors.

 

1.1.3.                  Special Meetings.  Special meetings of the stockholders of the Company may be called at any time by the chief executive officer, the board of directors, or by the holders of a majority of the outstanding shares of stock of the Company entitled to vote at the meeting.

 

1.1.4.                  Quorum.  The presence, in person or by proxy, of the holders of a majority of the outstanding shares of stock of the Company entitled to vote on a particular matter shall constitute a quorum for the purpose of considering such matter.

 

1.1.5.                  Voting Rights.  Except as otherwise provided herein, in the certificate of incorporation or by law, every stockholder shall have the right at every meeting of stockholders to one vote for every share standing in the name of such stockholder on the books of the Company which is entitled to vote at such meeting.  Every stockholder may vote either in person or by proxy.

 

1.1.6.                  Notice of Meetings; Waiver.

 

(a)                                 Written or printed notice of the place, date and hour of the meeting of the stockholders, and, in the case of a special meeting, the purpose or purposes for which such meeting is called, shall be delivered not less than ten nor more than sixty days prior to the meeting, either personally or by mail, by or at the direction of the board of directors or person calling the meeting, to each stockholder of record entitled to vote at such meeting.  If such notice is mailed, it shall be deemed to have been delivered to a stockholder on the third day after it is deposited in the United States mail, postage prepaid, addressed to the stockholder at his or her address as it appears on the record of stockholders of the Company, or, if he or she shall have filed with the secretary of the Company a written request that notices to him or her be mailed to some other address, then directed to him or her at such other address.  Such further notice shall be given as may be required by law or otherwise provided herein.

 

(b)                                 No notice of any meeting of stockholders need be given to any stockholder who submits a signed waiver of notice, whether before or after the meeting.  Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in a written waiver of notice.  The attendance of any stockholder at a meeting of stockholders shall constitute a waiver of notice of such meeting, except when the stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting is not lawfully called or convened.

 



 

1.2.                            Stockholder Business and Nominations.

 

1.2.1.                  Annual Meetings of Stockholders.  Nominations of persons for election to the board of directors of the Company and the proposal of business to be considered by the stockholders at an annual meeting of stockholders may be made (i) by or at the direction of the board of directors or the chairman of the board, or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

1.2.2.                  Special Meetings of Stockholders.  Only such business as shall have been brought before the special meeting of the stockholders pursuant to the Company’s notice of meeting pursuant to Section 1.1.6 of these bylaws shall be conducted at such meeting.  Nominations of persons for election to the board of directors may be made at a special meeting of stockholders at which directors are to be elected pursuant to the Company’s notice of meeting (i) by or at the direction of the board of directors or the chairman of the board or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

ARTICLE II

 

DIRECTORS

 

2.1.                            Number and Term.  The number of directors shall be such as the board of directors may by resolution direct from time to time.  Except as otherwise provided in the certificate of incorporation or by law, at each meeting of the stockholders for the election of directors, provided a quorum is present, the directors shall be elected by a plurality of the votes cast in such election.  Each director shall hold office for a term that will expire at the annual meeting of stockholders immediately succeeding their election, and until his successor shall have been elected and shall qualify, or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.  The chairman of the board, if one be elected, shall be chosen from among the directors.

 

2.2.                            Meetings.

 

2.2.1.                  Place.  Meetings of the board of directors shall be held at such place as may be designated by the board or in the notice of the meeting.

 

2.2.2.                  Regular Meetings.  Regular meetings of the board of directors shall be held at such times as the board may designate.  Notice of regular meetings need not be given.

 

2.2.3.                  Special Meetings.  Special meetings of the board may be called by direction of the chief executive officer or any two members of the board on three days’ notice to each director, either personally or by mail, telegram or facsimile transmission.

 

2.2.4.                  Quorum.  A majority of all the directors in office shall constitute a quorum for the transaction of business at any meeting.

 

2.2.5.                  Voting.  Except as otherwise provided herein, in the certificate of incorporation or by law, the vote of a majority of the directors present at any meeting at which a quorum is present shall constitute the act of the board of directors.

 

2.2.6.                  Committees.  The board of directors may, by resolution adopted by a majority of the whole board, designate one or more committees, each committee to consist of one or more directors and such alternate members (also directors) as may be designated by the board.  Unless otherwise provided herein, in the absence or disqualification of any member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such member or members

 

2



 

constitute a quorum, may unanimously appoint another director to act at the meeting in the place of any such absent or disqualified member.  Except as otherwise provided herein, in the certificate of incorporation or by law, any such committee shall have and may exercise the powers of the full board of directors to the extent provided in the resolution of the board directing the committee.

 

ARTICLE III

 

OFFICERS

 

3.1.                            Election.  At its first meeting after each annual meeting of the stockholders, the board of directors shall elect a chief executive officer or president, treasurer, secretary and such other officers as it deems advisable.

 

3.2.                            Authority, Duties and Compensation.  The officers shall have such authority, perform such duties and serve for such compensation as may be determined by resolution of the board of directors.  Except as otherwise provided by board resolution, (i) the chief executive officer shall be the president of the Company, shall have general supervision over the business and operations of the Company, may perform any act and execute any instrument for the conduct of such business and operations and shall preside at all meetings of the board and stockholders, (ii) the other officers shall have the duties customarily related to their respective offices, and (iii) any vice president, or vice presidents in the order determined by the board, shall in the absence of the chief executive officer, have the authority and perform the duties of the chief executive officer.

 

ARTICLE IV

 

INDEMNIFICATION

 

4.1.                            Right to Indemnification.  The Company shall indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative by reason of the fact that such person is or was a director, officer or trustee of the Company, or is or was serving at the request of the Company as a director, officer or trustee of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise (hereinafter an “indemnitee”), against expenses (including attorneys’ fees), judgments, fines, ERISA excise taxes, penalties and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, to the fullest extent authorized by the Delaware General Corporation Law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to provide prior to such amendment) (“Delaware General Corporation Law”); provided, that, the Company shall not be required to indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by or in the right of the Company to procure a judgment in its favor unless such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company.  The termination of any action, suit or proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person seeking indemnification did not act in good faith and in a manner which such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that such person’s conduct was unlawful.

 

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4.2.                            Advance of Expenses.  In addition to the right to indemnification conferred in Section 4.1 of this Article IV, expenses (including attorneys’ fees) incurred by an indemnitee in defending any civil, criminal, administrative or investigative action, suit or proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such indemnitee to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the Company as authorized in this Article IV.

 

4.3.                            Indemnification Not Exclusive; Inuring of Benefit.  The indemnification and advancement of expenses provided by, or granted pursuant to, the other Sections of this Article IV shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any law, the certificate of incorporation, these bylaws, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office, and shall inure to the benefit of the heirs, executors and administrators of any such person.

 

4.4.                            Insurance and Other Indemnfication.  The Company may purchase and maintain insurance on behalf of any person who is or was a director, officer, trustee, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.  The board of directors shall have the power to give other indemnification to the extent permitted by statute.

 

4.5.                            Employee or Agent.  The Company may, to the extent authorized from time to time by the board of directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of the Company to the fullest extent of the provisions of this Article IV with respect to the indemnification and advancement of expenses of directors, officers and trustees of the Company.

 

4.6.                            Certain Defined Terms.  For purposes of this Article IV, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, trustees, employees or agents, so that any person who is or was a director, officer, trustee, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Article IV with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued.

 

For purposes of this Article IV, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, trustee, employee or agent of the Company which imposes duties on, or involves service by, such director, officer, trustee, employee or agent with respect to an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner not opposed to the best interests of the Company for purposes of this Article IV.

 

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4.7.                            Contractual Obligation.  The indemnification and advancement of expenses provided by, or granted pursuant to, this Article IV shall be contract rights and shall continue as to a person who has ceased to be a director, officer, trustee employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.  Any amendment, alteration or repeal of this Article IV that adversely affects any right of an indemnitee or its successors shall be prospective only and shall not limit or eliminate any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment, alteration or repeal.

 

ARTICLE V

 

TRANSFER OF SHARE CERTIFICATES

 

Transfers of share certificates and the shares represented thereby shall be made on the books of the Company only by the registered holder or by duly authorized attorney.  Transfers shall be made only on surrender of the share certificate or certificates.

 

ARTICLE VI

 

AMENDMENTS

 

These bylaws may be amended or repealed by (i) the affirmative vote of the holders of record of a majority of the outstanding shares of the stock of the Company entitled to vote in respect thereof, given at an annual meeting or at any special meeting, provided that notice of the proposed alteration or repeal or of the proposed new bylaws be included in the notice of such meeting, or (ii) the affirmative vote of a majority of the members of the board of directors, at any regular or special meeting of the board of directors.

 

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Exhibit 3.7

 

 

STATE OF DELAWARE

 

SECRETARY OF STATE

 

DIVISION OF CORPORATIONS

 

FILED 04:00 PM 04/20/2001

 

010192973 - 3383203

 

CERTIFICATE OF FORMATION

 

OF

 

BEAR CREEK COUNTRY KITCHENS, LLC

 

In accordance with the provisions of §18-201 of the Delaware Limited Liability Company Act, the undersigned, sole organizer of a Delaware limited liability company, hereby certifies as follows:

 

(1)                                 The name of the limited liability company is Bear Creek Country Kitchens, LLC.

 

(2)                                 The address of the registered office of the limited liability company in the State of Delaware is The Corporation Trust Center, 1209 Orange Street, Wilmington, Delaware 19801, and the name of its registered agent at such address is The Corporation Trust Company.

 

IN WITNESS WHEREOF, the undersigned sole organizer has executed this Certificate of Formation this 19th day of April, 2001.

 

 

/s/ Kevin R. Schulz

 

Kevin R. Schulz

 

Sole Organizer

 

This instrument was drafted by, and after filing should be returned to, Kevin R. Schulz, Foley & Lardner, 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202.

 




Exhibit 3.8

 

BEAR CREEK COUNTRY KITCHENS, LLC

THIRD AMENDED AND RESTATED
LIMITED LIABILTY COMPANY AGREEMENT

 

This THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of BEAR CREEK COUNTRY KITCHENS, LLC (the “Company”) is made and entered into as of this 4th day of June, 2014, by BCCK Holdings, Inc., a Delaware corporation (the “Member”), the sole member of the Company.

 

R E C I T A L S:

 

A.                                    The Company was formed as a limited liability company under the Delaware Limited Liability Company Act, as amended from time to time (the “Act”) pursuant to the filing of the Certificate of Formation (the “Certificate”) with the Office of the Secretary of State of the State of Delaware.

 

B.                                    The Member desires amend and restate the Company’s Amended and Restated Operating Agreement, dated as of May 27, 2005, as amended (the “Old Agreement”) to set forth certain provisions as to the governance and management of the Company.

 

NOW, THEREFORE, the Member, by entering into this Agreement, desires to provide for the structure and operation of the Company as a limited liability company pursuant to and in accordance with the Act, and hereby agrees as follows:

 

1.                                      Purpose.  The object and purpose of, and the nature of the business to be conducted and promoted by, the Company is engaging in any lawful act or activity for which limited liability companies may be formed under the Act.

 

2.                                      Place of Business.  The main office of the Company is located at Four Gatehall Drive, Parsippany, NJ 07054.

 

3.                                      Member.  The name and address of the Member are:

 

BCCK Holdings, Inc.

Four Gatehall Drive

Parsippany, NJ 07054

 

4.                                      Management.

 

(a)                                 The business and affairs of the Company shall be managed by the Member. The Member shall have, to the fullest extent permitted by the Act, full and complete authority, power and discretion to direct, manage and control the business, affairs and properties of the Company, to make all decisions regarding such matters and to perform any and all acts and to engage in any and all activities necessary, customary or incident to the management of the business, affairs and properties of the Company.  The Member shall have authority to execute on

 



 

behalf of the Company all contracts, deeds, mortgages, bonds, contracts, leases and all other documents, agreements and instruments.

 

(b)                                 The Member may, by written instrument executed by the Member, appoint a board of directors, officers and agents of the Company to which the Member may delegate such duties, responsibilities and authority as shall be provided in such instrument. Any director or officer may be removed at any time by written instrument executed by the Member. Only the Member and directors, officers and agents of the Company authorized by the Member to bind the Company by written instrument executed by the Member shall have the authority to bind the Company.

 

5.                                      Units; Initial Capitalization.  Interests in the Company shall be represented by units of limited liability company interests (each, a “Unit”).  The Company, as of the date hereof, shall have one authorized class of Units, which shall be composed of 100 Units, all of which as of the date hereof, are owned by the Member. The ownership by a holder of Units shall entitle such holder to allocations of profits and losses and other items and distributions of cash and other property as set forth herein.  Units shall not be certificated.  For purposes of this Agreement, Units held by the Company or any of its subsidiaries shall be deemed not to be outstanding.

 

6.                                      Title to Company Property.  All real and personal property shall be acquired in the name of the Company and title to any property so acquired shall vest in the Company itself rather than in the holders of the Units.

 

7.                                      Compensation of Member.  The Member shall be reimbursed for all expenses incurred in managing the Company and shall, at the election of the Member, be entitled to compensation for its management services, in an amount to be determined from time to time by the Member.

 

8.                                      Distributions.  Distributions shall be made to the members (in cash or in kind) at the times and in the amounts determined by the Member and as permitted by applicable law.

 

9.                                      Tax Elections.  The Member may make any tax elections for the Company allowed under the Internal Revenue Code of 1986, as amended, or the tax laws of any state or other jurisdiction having taxing jurisdiction over the Company.

 

10.                               Transferability of Units.  The Units are transferable either voluntarily or by operation of law. All or any portion of the Units may be sold, assigned, transferred, exchanged, mortgaged, pledged, granted, hypothecated, encumbered or otherwise transferred (whether absolutely or as security). Upon the transfer of the Units, the transferee shall be admitted as a member at the time of the transfer and shall obtain all of the rights appurtenant to being a member of the Company.

 

11.                               Admission of Additional Members.  Additional members of the Company may be admitted to the Company at the direction of the Member. In the event that any additional members are added, this Agreement shall be construed to apply to all of the members, and the

 

2



 

additional members shall be required to either:  (i) enter into, ratify and approve this Agreement; or (ii) execute a new operating agreement after the Member has terminated this Agreement. Unless otherwise required by the Act (or any other valid law or regulation to which the Company is subject), if additional members have been added to the Company and this Agreement has not been terminated or modified, the decisions of the members owning at least a majority of the Units in the Company shall constitute the decisions of the Member for purposes of the interpretation of this Agreement.

 

12.                               Liability of Members.  No holder of Units shall have any liability for any debt, obligation or liability of the Company or for the acts or omissions of any other member, director, officer, agent or employee of the Company except to the extent expressly required by the Act. The failure of any holders of the Units to observe any formalities or requirements relating to the exercise of the powers of the Member or the management of the business and affairs of the Company under this Agreement or the Act shall not, by itself, be grounds for imposing personal liability on the members for liabilities of the Company.

 

13.                               Indemnification.

 

a.                                      The Company shall indemnify the Member and such other persons as are identified by the Member by written instrument executed by the Member as entitled to be indemnified under this section for all costs, losses, liabilities and damages paid or accrued by the Member or any such other person in connection with the business of the Company, to the fullest extent provided or allowed by the laws of the State of Delaware. In addition, the Company shall advance costs of defense of any proceeding to the Member or any such other person upon receipt by the Company of an undertaking by or on behalf of the Member or such other person to repay such amount if it shall ultimately be determined that the Member or such other person is not entitled to be indemnified by the Company.

 

b.                                      Nothing in this Agreement shall serve to amend, repeal or otherwise modify the indemnification provisions set forth in the Old Agreement in any manner that would adversely affect the rights under the Old Agreement of individuals that were, immediately prior to the Closing (as defined in that certain Amended and Restated Purchase Agreement, dated as of April 23, 2014, among American Capital Equity I, LLC, American Capital Equity II, LP, American Capital, Ltd., Walter McKenna, Donna Halk, Dominique Bastien, B&G Foods North America, Inc. the Member and American Capital, Ltd. (as the sellers’ representative)), managers, directors, members, officers or employees of the Company.

 

14.                               Dissolution.

 

(a)                                 The Company shall dissolve, and its affairs shall be wound up, upon the first to occur of the following: (i) the written direction of the Member, or (ii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. The death, dissolution, retirement, resignation, expulsion or bankruptcy of the Member or the occurrence of any other event that terminates the continued membership of the Member shall not cause a dissolution of the Company.

 

3



 

(b)                                 Upon dissolution, the Company shall cease carrying on any and all activities other than the winding up of its business, but the Company is not terminated and shall continue until the winding up of the affairs of the Company is completed and a certificate of cancellation has been filed pursuant to the Act. Upon the winding up of the Company, the assets of the Company shall be distributed:  (i) first to creditors, including any member if such member is a creditor, to the extent permitted by law, in satisfaction of the liabilities of the Company, whether by payment or the making of reasonable provision for payment thereof; and (ii) then to the members, pro rata based on their percentage ownership of the Company. Such distributions shall be in cash or property or partly in both, as determined by the Member.

 

15.                               Conflicts of Interest.  Nothing in this Agreement shall be construed to limit the right of the members to enter into any transaction that may be considered to be competitive with, or a business opportunity that may be beneficial to, the Company. No member violates a duty or obligation to the Company merely because the conduct of such member furthers the interests of such member. A member may lend money to and transact other business with the Company. The rights and obligations of the members upon lending money to or transacting business with the Company are the same as those of a person who is not a member, subject to other applicable law. No transaction with the Company shall be void or voidable solely because a member has a direct or indirect interest in the transaction.

 

16.                               Governing Law.  This Agreement shall be governed by, and interpreted and enforced in accordance with, the laws of the State of Delaware, without reference to the conflict of law rules of that or any other jurisdiction.

 

17.                               Entire Agreement.  This Agreement represents the entire agreement by the Member and the Company and supersedes all prior oral and written agreements by the Member and the Company pertaining to the subject matter hereof.

 

18.                               Amendment.  This Agreement may be amended or modified from time to time only by a written instrument executed by the Member.

 

19.                               Rights of Creditors and Third Parties.  This Agreement is entered into by the Member solely to govern the operation of the Company. This Agreement is expressly not intended for the benefit of any creditor of the Company or any other person. Except and only to the extent provided by applicable statute, no such creditor or third party shall have any rights under this Agreement or any other agreement between the Company and the Member, with respect to the subject matter hereof.

 

20.                               Successors and Assigns.  This Agreement shall be binding on and inure to the benefit of the heirs, personal representatives, successors and assigns of the Member.

 

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IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first written above.

 

 

MEMBER:

 

 

 

BCCK HOLDINGS, INC.

 

 

 

 

 

By:

/s/ Robert C. Cantwell

 

 

Name:

Robert C. Cantwell

 

 

Title:

Executive Vice President

 

Signature Page to Third Amended and Restated Operating Agreement

 




Exhibit 3.9

 

State of Delaware

 

Secretary of State

 

Division of Corporations

 

Delivered 04:02 PM 05/08/2008

 

FILED 04:02 PM 05/08/2008

 

SRV 080521860 - 4545165 FILE

 

 

CERTIFICATE OF FORMATION

 

OF

 

ROBERT’S AMERICAN GOURMET FOOD, LLC

 

This Certificate of Formation of Robert’s American Gourmet Food, LLC (the “Limited Liability Company”), dated May 8, 2008, is being duly executed and filed by Minji Kim, as an authorized person to form a limited liability company under the Delaware Limited Liability Company Act (6 Del. C. § 18-101 et seq.).

 

The undersigned, being duly authorized to execute and file this Certificate of Formation, hereby certifies that:

 

FIRST:                                          The name of the Limited Liability Company is Robert’s American Gourmet Food, LLC

 

SECOND:                           The address of the registered office of the Limited Liability Company is 160 Greentree Drive, Suite 101, City of Dover, County of Kent, Delaware 19904. The name of its registered agent at such address, required to be maintained by Section 18-104 of the Delaware Limited Liability Company Act, is National Registered Agents, Inc.

 

THIRD:                                     The Limited Liability Company shall have perpetual existence.

 

IN WITNESS WHEREOF, the undersigned has duly executed this Certificate of Formation as of the day and year first written above.

 

 

/s/ Minji Kim

 

Minji Kim

 

Authorized Person

 


 

State of Delaware

 

Secretary of State

 

Division of Corporations

 

Delivered 09:36 AM 07/08/2013

 

FILED 09:30 AM 07/08/2013

SRV 130851824 – 4545165 FILE

 

 

CERTIFICATE OF MERGER

 

OF

 

OT ACQUISITION, LLC

 

WITH AND INTO

 

ROBERT’S AMERICAN GOURMET FOOD, LLC

 

* * * * * * * *

 

The undersigned Limited Liability Company, organized and existing under and by virtue of the Limited Liability Company Act of the State of Delaware (the “DLLCA”),

 

DOES HEREBY CERTIFY:

 

FIRST: That the name and state of formation of each of the constituent companies of the merger (the “Constituent Companies”) are as follows:

 

NAME

 

STATE OF FORMATION

OT Acquisition, LLC

 

Delaware

Robert’s American Gourmet Food, LLC

 

Delaware

 

SECOND: That a Stock Purchase Agreement and Agreement and Plan of Merger (“Agreement of Merger”) by and among Robert’s American Gourmet Food, LLC, a Delaware limited liability company, VMG Pirate’s Booty Blocker, Inc., a Delaware corporation, VMG Equity Partners GP, L.P., a Delaware limited partnership, VMG Tax-Exempt, L.P., a Delaware limited partnership, VMG Partners, LLC, a Delaware limited liability company as Sellers’ Representative, B&G Foods North America, Inc., a Delaware corporation, OT Acquisition, LLC, a Delaware limited liability company, and B&G Foods, Inc., a Delaware corporation, has been approved, adopted, executed and acknowledged by each of the Constituent Companies in accordance with the requirements of Section 18-209 of the DLLCA.

 

THIRD: That the surviving company in the merger is Robert’s American Gourmet Food, LLC, which will continue its existence as the surviving company under the name Pirate Brands, LLC (the “Surviving Company”).

 

FOURTH: That the Certificate of Formation of Robert’s American Gourmet Food, LLC, a Delaware Limited Liability Company, immediately prior to the merger shall be the certificate of formation of the Surviving Company until thereafter amended in accordance with the terms thereof and the DLLCA, except that Paragraph First shall be amended to read in its entirety as follows:

 

“FIRST: The name of the Limited Liability Company is Pirate Brands, LLC.”

 



 

FIFTH: That the executed Agreement of Merger is on file at an office of the Surviving Company, the address of which is Four Gatehall Drive, Parsippany, New Jersey 07054.

 

SIXTH: That a copy of the Agreement of Merger will be furnished by the Surviving Company, on request and without cost, to any member of any domestic limited liability company or any person holding an interest in any other business entity which is to merge.

 

SEVENTH: That this Certificate of Merger shall be effective on filing with the Secretary of State of the State of Delaware.

 

[Signature Page Follows]

 



 

IN WITNESS WHEREOF, Robert’s American Gourmet Food, LLC has caused this Certificate of Merger to be executed on this 8th day of July, 2013.

 

 

ROBERT’S AMERICAN GOURMET FOOD, LLC

 

 

 

 

 

 

By

/s/ Michael Repole

 

 

Name: Michael Repole

 

 

Title:   President, Authorized Person

 


 



Exhibit 3.10

 

PIRATE BRANDS, LLC

FIFTH AMENDED AND RESTATED
LIMITED LIABILTY COMPANY AGREEMENT

 

This FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) of PIRATE BRANDS, LLC (the “Company”) is made and entered into as of this 4th day of June, 2014, by B&G Foods North America, Inc., a Delaware corporation (the “Member”), the sole member of the Company.

 

R E C I T A L S:

 

A.                                    The Company, originally named Robert’s American Gourmet Food, LLC, was formed as a limited liability company under the Delaware Limited Liability Company Act, as amended from time to time (the “Act”) pursuant to the filing of the Certificate of Formation (the “Certificate”) with the Office of the Secretary of State of the State of Delaware.

 

B.                                    The Member desires amend and restate the Company’s Third Amended and Restated Limited Liability Company Agreement, as amended (the “Old Agreement”) to set forth certain provisions as to the governance and management of the Company.

 

NOW, THEREFORE, the Member, by entering into this Agreement, desires to provide for the structure and operation of the Company as a limited liability company pursuant to and in accordance with the Act, and hereby agrees as follows:

 

1.                                      Purpose.  The object and purpose of, and the nature of the business to be conducted and promoted by, the Company is engaging in any lawful act or activity for which limited liability companies may be formed under the Act.

 

2.                                      Place of Business.  The main office of the Company is located at Four Gatehall Drive, Parsippany, NJ 07054.

 

3.                                      Member.  The name and address of the Member are:

 

B&G Foods North America, Inc.

Four Gatehall Drive

Parsippany, NJ 07054

 

4.                                      Management.

 

(a)                                 The business and affairs of the Company shall be managed by the Member. The Member shall have, to the fullest extent permitted by the Act, full and complete authority, power and discretion to direct, manage and control the business, affairs and properties of the Company, to make all decisions regarding such matters and to perform any and all acts and to engage in any and all activities necessary, customary or incident to the management of the business, affairs and properties of the Company.  The Member shall have authority to execute on

 



 

behalf of the Company all contracts, deeds, mortgages, bonds, contracts, leases and all other documents, agreements and instruments.

 

(b)                                 The Member may, by written instrument executed by the Member, appoint a board of directors, officers and agents of the Company to which the Member may delegate such duties, responsibilities and authority as shall be provided in such instrument. Any director or officer may be removed at any time by written instrument executed by the Member. Only the Member and directors, officers and agents of the Company authorized by the Member to bind the Company by written instrument executed by the Member shall have the authority to bind the Company.

 

5.                                      Units; Initial Capitalization.  Interests in the Company shall be represented by units of limited liability company interests (each, a “Unit”).  The Company, as of the date hereof, shall have one authorized class of Units, which shall be composed of 100 Units, all of which as of the date hereof, are owned by the Member. The ownership by a holder of Units shall entitle such holder to allocations of profits and losses and other items and distributions of cash and other property as set forth herein.  Units shall not be certificated.  For purposes of this Agreement, Units held by the Company or any of its subsidiaries shall be deemed not to be outstanding.

 

6.                                      Title to Company Property.  All real and personal property shall be acquired in the name of the Company and title to any property so acquired shall vest in the Company itself rather than in the holders of the Units.

 

7.                                      Compensation of Member.  The Member shall be reimbursed for all expenses incurred in managing the Company and shall, at the election of the Member, be entitled to compensation for its management services, in an amount to be determined from time to time by the Member.

 

8.                                      Distributions.  Distributions shall be made to the members (in cash or in kind) at the times and in the amounts determined by the Member and as permitted by applicable law.

 

9.                                      Tax Elections.  The Member may make any tax elections for the Company allowed under the Internal Revenue Code of 1986, as amended, or the tax laws of any state or other jurisdiction having taxing jurisdiction over the Company.

 

10.                               Transferability of Units.  The Units are transferable either voluntarily or by operation of law. All or any portion of the Units may be sold, assigned, transferred, exchanged, mortgaged, pledged, granted, hypothecated, encumbered or otherwise transferred (whether absolutely or as security). Upon the transfer of the Units, the transferee shall be admitted as a member at the time of the transfer and shall obtain all of the rights appurtenant to being a member of the Company.

 

11.                               Admission of Additional Members.  Additional members of the Company may be admitted to the Company at the direction of the Member. In the event that any additional members are added, this Agreement shall be construed to apply to all of the members, and the

 

2



 

additional members shall be required to either:  (i) enter into, ratify and approve this Agreement; or (ii) execute a new operating agreement after the Member has terminated this Agreement. Unless otherwise required by the Act (or any other valid law or regulation to which the Company is subject), if additional members have been added to the Company and this Agreement has not been terminated or modified, the decisions of the members owning at least a majority of the Units in the Company shall constitute the decisions of the Member for purposes of the interpretation of this Agreement.

 

12.                               Liability of Members.  No holder of Units shall have any liability for any debt, obligation or liability of the Company or for the acts or omissions of any other member, director, officer, agent or employee of the Company except to the extent expressly required by the Act. The failure of any holders of the Units to observe any formalities or requirements relating to the exercise of the powers of the Member or the management of the business and affairs of the Company under this Agreement or the Act shall not, by itself, be grounds for imposing personal liability on the members for liabilities of the Company.

 

13.                               Indemnification.

 

a.                                      The Company shall indemnify the Member and such other persons as are identified by the Member by written instrument executed by the Member as entitled to be indemnified under this section for all costs, losses, liabilities and damages paid or accrued by the Member or any such other person in connection with the business of the Company, to the fullest extent provided or allowed by the laws of the State of Delaware. In addition, the Company shall advance costs of defense of any proceeding to the Member or any such other person upon receipt by the Company of an undertaking by or on behalf of the Member or such other person to repay such amount if it shall ultimately be determined that the Member or such other person is not entitled to be indemnified by the Company.

 

b.                                      Nothing in this Agreement shall serve to amend, repeal or otherwise modify the indemnification provisions set forth in the Old Agreement in any manner that would adversely affect the rights under the Old Agreement of individuals that were, immediately prior to the Closing (as defined in that certain Stock Purchase Agreement and Agreement and Plan of Merger by and among the Company, VMG Pirate’s Booty Blocker, Inc., VMG Equity Partners GP, L.P., VMG Tax-Exempt, L.P., VMG Partners, LLC, B&G Foods North America, Inc., OT Acquisition, LLC, and B&G Foods, Inc.), managers, directors, members, officers or employees of the Company.

 

14.                               Dissolution.

 

(a)                                 The Company shall dissolve, and its affairs shall be wound up, upon the first to occur of the following: (i) the written direction of the Member, or (ii) the entry of a decree of judicial dissolution under Section 49 of the Act. The death, dissolution, retirement, resignation, expulsion or bankruptcy of the Member or the occurrence of any other event that terminates the continued membership of the Member shall not cause a dissolution of the Company.

 

3



 

(b)                                 Upon dissolution, the Company shall cease carrying on any and all activities other than the winding up of its business, but the Company is not terminated and shall continue until the winding up of the affairs of the Company is completed and a certificate of cancellation has been filed pursuant to the Act. Upon the winding up of the Company, the assets of the Company shall be distributed:  (i) first to creditors, including any member if such member is a creditor, to the extent permitted by law, in satisfaction of the liabilities of the Company, whether by payment or the making of reasonable provision for payment thereof; and (ii) then to the members, pro rata based on their percentage ownership of the Company. Such distributions shall be in cash or property or partly in both, as determined by the Member.

 

15.                               Conflicts of Interest.  Nothing in this Agreement shall be construed to limit the right of the members to enter into any transaction that may be considered to be competitive with, or a business opportunity that may be beneficial to, the Company. No member violates a duty or obligation to the Company merely because the conduct of such member furthers the interests of such member. A member may lend money to and transact other business with the Company. The rights and obligations of the members upon lending money to or transacting business with the Company are the same as those of a person who is not a member, subject to other applicable law. No transaction with the Company shall be void or voidable solely because a member has a direct or indirect interest in the transaction.

 

16.                               Governing Law.  This Agreement shall be governed by, and interpreted and enforced in accordance with, the laws of the State of Delaware, without reference to the conflict of law rules of that or any other jurisdiction.

 

17.                               Entire Agreement.  This Agreement represents the entire agreement by the Member and the Company and supersedes all prior oral and written agreements by the Member and the company pertaining to the subject matter hereof.

 

18.                               Amendment.  This Agreement may be amended or modified from time to time only by a written instrument executed by the Member.

 

19.                               Rights of Creditors and Third Parties.  This Agreement is entered into by the Member solely to govern the operation of the Company. This Agreement is expressly not intended for the benefit of any creditor of the Company or any other person. Except and only to the extent provided by applicable statute, no such creditor or third party shall have any rights under this Agreement or any other agreement between the Company and the Member, with respect to the subject matter hereof.

 

20.                               Successors and Assigns.  This Agreement shall be binding on and inure to the benefit of the heirs, personal representatives, successors and assigns of the Member.

 

4



 

IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first written above.

 

 

 

MEMBER:

 

 

 

B&G Foods North America, Inc.

 

 

 

 

 

By:

/s/ Robert C. Cantwell

 

 

Name:

Robert C. Cantwell

 

 

Title:

Executive Vice President

 

Signature Page to Fifth Amended and Restated Operating Agreement

 




Exhibit 3.11

 

State of Delaware

 

Secretary of State

 

Division of Corporations

 

Delivered 04:25 PM 11/10/2009

 

FILED 04:06 PM 11/10/2009

 

SRV 091006824 - 4751777 FILE

 

 

CERTIFICATE OF INCORPORATION

 

OF

 

SPARTAN FOODS HOLDING COMPANY

 

FIRST

 

The name of the corporation (hereinafter the “Corporation”) is: SPARTAN FOODS HOLDING COMPANY.

 

SECOND

 

The address of the Corporation’s registered office in the State of Delaware is 2711 Centerville Road, Suite 400, City of Wilmington, County of New Castle, 19808. The name of its registered agent at such address is Corporation Service Company.

 

THIRD

 

The nature of the business or purpose to be conducted or promoted by the Corporation is to engage in any lawful act or activity for which corporations may be organized under the Delaware General Corporation Law (the “DGCL”). In connection therewith, the Corporation shall possess and exercise all of the powers and privileges granted by the DGCL or by this Certificate of Incorporation together with any powers incidental thereto, so far as such powers and privileges are necessary or convenient to the conduct, promotion or attainment of the business or purposes of the Corporation.

 

FOURTH

 

The total number of shares of capital stock which the Corporation shall have authority to issue is Ninety Thousand (90,000) shares, of which (a) Sixty Thousand (60,000) shares shall be Class A Common Stock, par value $.01 per share (the “Class A Common Stock”), and Fifteen Thousand (15,000) shares shall be Class B Common Stock, par value $.01 per share (the “Class B Common Stock,” and together with the Class A Common Stock, the “Common Stock”), and (b) Fifteen Thousand (15,000) shares shall be Preferred Stock, par value $.01 per share (the “Preferred Stock”). A description of the respective classes of stock and a statement of the designations, preferences, voting powers (or no voting powers), relative, participating, optional or other special rights and privileges and the qualifications, limitations and restrictions of the Preferred Stock and Common Stock is set forth below.

 

A.                                    PREFERRED STOCK

 

Except as otherwise provided in this Certificate of Incorporation, any amendment or restatement thereof, or in any Certificate of Designation filed in accordance with the DGCL with respect to the designation of any series of Preferred Stock, the Preferred Stock may be issued in one or more series at such time or times and for such consideration or considerations as a

 



 

majority of the Board of Directors may determine. Each series shall be so designated as to distinguish the shares thereof from the shares of all other series and classes of capital stock. Except as otherwise provided in this Certificate of Incorporation, any amendment or restatement thereof, or in any Certificate of Designation filed in accordance with the DGCL with respect to the designation of any series of Preferred Stock, different series of Preferred Stock shall not be construed to constitute different classes of shares for the purpose of voting by classes.

 

The Board of Directors is expressly authorized, by a vote or written consent of at least a majority of the Board of Directors then in office, to provide for the issuance of all or any shares of the Preferred Stock in one or more series, each with such designations, preferences, voting powers (or no voting powers), relative, participating, optional or other special rights and privileges and such qualifications, limitations or restrictions thereof as shall be stated in the resolution or resolutions adopted by the Board of Directors to create such series, and a Certificate of Designation of said resolution or resolutions shall be filed in accordance with the DGCL. The authority of the Board of Directors with respect to each such series shall include, without limitation of the foregoing, the right to provide that the shares of each such series may:

 

(i)                                have such distinctive designation and consist of such number of shares;

 

(ii)                             be subject to redemption at such time or times and at such price or prices;

 

(iii)                          be entitled to the benefit of a retirement or sinking fund for the redemption of such series on such terms and in such amounts;

 

(iv)                         be entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such conditions, and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes or any other series;

 

(v)                            be entitled to such rights upon the dissolution of, or upon any distribution of the assets of, the Corporation;

 

(vi)                         be convertible into, or exchangeable for, shares of any other class or classes of capital stock, or of any other series of the same or any other class or classes of stock of the Corporation at such price or prices or at such rates of exchange and with such adjustments, if any;

 

(vii)                      be entitled to the benefit of such limitations, if any, on the issuance of additional shares of such series or shares of any other series of Preferred Stock; or

 

(viii)                   be entitled to such other preferences, powers, qualifications, rights and privileges, all as the Board of Directors may deem advisable and as are not inconsistent with law and the provisions of this Certificate of Incorporation.

 



 

B.          COMMON STOCK.

 

Section 1.           Rights and Privileges in General. All shares of Common Stock, regardless of class, shall be identical, shall entitle the holders thereof to the same powers, preferences, rights and privileges, and shall be subject to the same qualifications, limitations and restrictions, except as provided in Section B.2 and Section B.3 of this Article FOURTH.

 

Section 2.           Voting Rights; Certain Amendments.

 

(a)        Each outstanding share of Class A Common Stock shall entitle the holder thereof to exercise one (1) vote in elections of directors of the Corporation and with respect to all other matters upon which stockholders of the Corporation are entitled to vote.

 

(b)        No amendment of this Certificate of Incorporation shall be effective to amend, alter, repeal (whether in whole or in part) or change the effect of any of the provisions of Sections B.1, B.2, B.3, B.4, B.5, or B.6 of this Article FOURTH, unless such amendment shall have been approved by the affirmative vote of the holders of a majority of the voting power of the outstanding shares of Class A Common Stock voting separately as a class, and by the affirmative vote of the holders of a majority of the voting power of the outstanding shares of Class B Common Stock voting separately as a class, and for which purpose each outstanding share of Class B Common Stock shall entitle the holder thereof to exercise one (1) vote.

 

(c)        Shares of Class B Common Stock shall have no voting rights whatsoever in elections of directors of the Corporation or with respect to any other matter upon which stockholders of the Corporation are entitled to vote, except as otherwise provided in Section B.2(b) of this Article FOURTH and except when and as otherwise expressly required by applicable law notwithstanding this general denial of voting rights.

 

Section 3.           Conversion. Shares of Class B Common Stock shall be convertible into shares of Class A Common Stock in accordance with the provisions of this Section 3. All references in this Article FOURTH to a “holder” of shares of Common Stock shall refer to the holder of record of such shares of Common Stock as properly reflected on the books of the Corporation.

 

3.1       Definitions. For purposes of this Section B.3 of this Article FOURTH, the following terms shall have the following meanings:

 

Business Day” shall mean any day other than a Saturday, Sunday or other day which shall be in New York, New York, Boston, Massachusetts or Cleveland, Ohio, a legal holiday or a day on which banking institutions therein are authorized by law to close.

 

Person” shall mean an individual, a corporation, a limited liability company, an association, a joint-stock company, a business trust or other similar organization, a partnership, a joint venture, a trust, an unincorporated organization or a government or any agency, instrumentality or political subdivision thereof.

 



 

Public Sale” shall mean any sale of shares of Common Stock to the public pursuant to an effective registration statement or in accordance with Rule 144 (or any similar provision then in force) under the Securities Act.

 

Securities Act” shall mean the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations promulgated thereunder, all as amended, modified or supplemented from time to time.

 

3.2       Optional Conversion. Subject to Subsection 3.7(e) of Section B of this Article FOURTH, each outstanding share of Class B Common Stock may be converted into one (1) fully paid and nonassessable share of Class A Common Stock at any time by any holder thereof. To effect such a conversion, a holder of shares of Class B Common Stock shall send written notice to such effect to the Corporation, which notice shall specify:

 

(a)        the name of the holder of the shares of Class B Common Stock to be converted;

 

(b)        the number of shares of Class B Common Stock to be converted;

 

(c)        the certificate number of the certificate representing such shares of Class B Common Stock to be converted (or, if the certificate for such shares of Class B Common Stock has been lost or if no certificate has then been issued to such holder, a statement that such notice is accompanied by an affidavit and indemnity or a written statement, as applicable, pursuant to Subsection 3.4 of Section B of this Article FOURTH);

 

(d)        the date on which conversion is to take place (the “Conversion Date”), which shall be a Business Day at least two (2) Business Days and not more than twenty (20) Business Days after the date on which the Corporation receives such notice;

 

(e)        subject to Section 6 of Section B of this Article FOURTH, the name(s) and address(es) of the Person(s) in whose name(s) the shares of Class A Common Stock to be issued upon conversion are to be registered, if other than such holder; and

 

(f)         the denominations in which certificates for the shares of Class A Common Stock to be issued upon conversion are required to be issued.

 

An election by a holder of shares of Class B Common Stock to convert pursuant to this Subsection 3.2 of Section B of this Article FOURTH may be rescinded by written notice delivered by such holder to the Corporation at any time prior to the Conversion Date.

 

3.3       Automatic Conversion. Each share of Class B Common Stock shall, immediately prior to the sale of such shares of Class B Common Stock in a Public Sale, and without any further action by the holder thereof, be automatically converted into one (1) share of Class A Common Stock (an “Automatic Conversion”).

 

3.4       Surrendered Common Share Certificate. On or prior to the Conversion Date (or, in the case of an Automatic Conversion, the date of the Public Sale), the holder of the shares of Class B Common Stock to be converted hereunder shall surrender or deliver to the

 



 

Corporation at its office maintained for such purpose pursuant to Section 4 of Section B of this Article FOURTH (a) the certificate(s) representing such shares of Class B Common Stock (the “Surrendered Common Share Certificate”), (b) an affidavit of lost certificate and indemnity agreement reasonably satisfactory to the Corporation, or (c) if no certificate(s) for such shares has at the time been issued to such holder by the Corporation, a written statement of such holder to the effect that it has not yet received such certificate and instructing the Corporation to treat such certificate, when and if issued, as a Surrendered Common Share Certificate (the delivery of such affidavit and indemnity or such written statement to be deemed, for purposes of this Section 3 of Section B of this Article FOURTH, to constitute a surrender of the Surrendered Common Share Certificate).

 

3.5       Effectiveness of Conversion.; Retained Rights of Holder.

 

(a)         Effectiveness of Conversion. Subject to a rescission of the election to convert pursuant to Subsection 3.2 of Section B of this Article FOURTH, on the Conversion Date (or, in the case of an Automatic Conversion, the date of the Public Sale), each Person to whom any shares of Class A Common Stock are issuable upon conversion hereunder shall become the holder of record thereof and the holder of the shares of Class B Common Stock then converted shall cease to be the holder of record of such shares, regardless of whether certificates representing such shares of Class A Common Stock to be issued upon such conversion have then been issued and delivered pursuant to Subsection 3.6 of Section B of this Article FOURTH or the Surrendered Common Share Certificate has been delivered to the Corporation pursuant to Subsection 3.4 of Section B of this Article FOURTH.

 

(b)         Acknowledgment of Rights. The Corporation, on or after the Conversion Date (or, in the case of an Automatic Conversion, on or after the date of the Public Sale), upon the request of any holder of shares of Class B Common Stock to be so converted, will acknowledge in writing its continuing obligation to afford to such holder (and any transferee of such holder) any rights (including, without limitation, any registration rights pursuant to any agreements with the Corporation) with respect to the shares of Class A Common Stock issued upon such conversion to which such holder (or transferee) shall be entitled after such conversion; provided, however, that if any such holder shall fail to make any such request, such failure shall not affect the continuing obligation of the Corporation to afford to such holder (or transferee) all such rights.

 

3.6         Delivery of Stock Certificates. As promptly as practicable after the Conversion Date (or, in the case of an Automatic Conversion, the date of the Public Sale), the Corporation will, at its expense, issue and deliver to the holder of the shares of Class A Common Stock issued upon a conversion hereunder, or as such holder may direct, (a) a certificate or certificates for the number of shares of Class A Common Stock so issued upon such conversion and (b) in the case of the conversion of less than all of the shares of Class B Common Stock represented by a Surrendered Common Share Certificate, a new certificate for a number of shares of Class B Common Stock equal to the unconverted shares represented by the Surrendered Common Share Certificate (such new certificate to be dated so that there will be no loss of dividends, whether then declared or undeclared, on the unconverted shares of Class 13 Common Stock represented by such Surrendered Common Share Certificate); provided, however, that the Corporation shall not be obligated to issue any certificate for shares of Class A Common Stock or

 



 

for shares of Class B Common Stock pursuant to this Section B.3 of this Article FOURTH unless and until the holder of shares of Class B Common Stock to be converted shall have delivered the Surrendered Common Share Certificate to the Corporation (or an affidavit of lost certificate and indemnity agreement reasonably satisfactory to the Corporation).

 

3.7         Other Provisions.

 

(a)         Stock Reserved for Issuance.   The Corporation will at all times reserve and keep available out of its authorized but unissued shares of Class A Common Stock, for the purpose of issuance upon the conversion as provided in this Section B.3 of this Article FOURTH, such number of shares of Class A Common Stock as are then issuable pursuant to this Section B.3 of this Article FOURTH upon the conversion of all then-outstanding shares of Class B Common Stock hereunder. If, notwithstanding the foregoing, at any time there shall be an insufficient number of authorized shares of Class A Common Stock available for issuance upon conversion hereunder of all then-outstanding shares of Class B Common Stock, the Corporation will take all action necessary to propose and recommend to the stockholders of the Corporation that the Certificate of Incorporation be amended to authorize additional shares of Class A Common Stock in an amount sufficient to provide an adequate number of shares of Class A Common Stock for issuance upon such conversion, including the diligent solicitation of votes and proxies to vote in favor of such an amendment. All shares of Class A Common Stock which are issuable upon conversion hereunder will, when so issued, be duly and validly issued, fully paid and nonassessable.

 

(b)         Issuance Expenses.    The issuance of certificates for shares of Class A Common Stock upon conversion of shares of Class B Common Stock pursuant to this Section B.3 of this Article FOURTH will be made without charge to any holder of any shares of Class B Common Stock to be converted for any issuance tax in respect thereof or any other cost incurred by the Corporation in connection with such conversion and the related issuance of shares of Class A Common Stock.

 

(c)          Closing of Books.      The Corporation will at no time close its transfer books against the transfer of any shares issued or issuable upon the conversion of shares of Class B Common Stock into shares of Class A Common Stock pursuant to this Section B.3 of this Article FOURTH in any manner which interferes with the timely and otherwise rightful conversion of such shares of Class B Common Stock.

 

(d)         Stock Splits, Combinations, Dividends. Etc.        If the Corporation at any time or from time to time (i) subdivides or combines the outstanding shares of Class A Common Stock or declares a dividend or any other distribution (including any dividend payable in shares of Class A Common Stock (or payable in securities convertible into or exercisable or exchangeable for shares of Class A Common Stock)) on the outstanding shares of Class A Common Stock or effects any other similar transaction with respect to the shares of Class A Common Stock, then contemporaneously therewith the Corporation will proportionately subdivide or combine the outstanding shares of Class B Common Stock or declare an identical dividend or other distribution on the outstanding shares of Class B Common Stock or effect such other similar transaction with respect to the shares of Class B Common Stock; or (ii) subdivides or combines the outstanding shares of Class B Common Stock or declares a dividend or any

 



 

other distribution (including any dividend payable in shares of Class B Common Stock (or payable in securities convertible into or exercisable or exchangeable for shares of Class B Common Stock)) on the outstanding shares of Class B Common Stock or effects any other similar transaction with respect to the shares of Class B Common Stock, then contemporaneously therewith the Corporation will proportionately subdivide or combine the outstanding shares of Class A Common Stock or declare an identical dividend or other distribution on the outstanding shares of Class A Common Stock or effect such other similar transaction with respect to the shares of Class A Common Stock; provided, that in the case of any dividend payable in shares of Common Stock (or payable in securities convertible into or exercisable or exchangeable for shares of Common Stock), such dividend shall be payable on each class of shares of Common Stock in shares of the same class (or payable in securities convertible into or exercisable or exchangeable for shares of Common Stock of the same class).

 

(e)          Restrictions on Conversion.    Any other provision in this Article FOURTH notwithstanding, no Person which is a bank holding company or a subsidiary of a bank holding company (a “Bank Affiliate) as defined in the Bank Holding Company Act of 1956, as amended, or other applicable banking laws of the United States of America and the rules and regulations promulgated thereunder, shall have the right to convert shares of Class B Common Stock into shares of Class A Common Stock, if, and to the extent that, under any law or under any regulation, rule or other requirement of any governmental authority at any time applicable to such Bank Affiliate, (a) after giving effect to such conversion, such Bank Affiliate would own, control or have power to vote a greater quantity of securities of any kind than the Bank Affiliate shall be permitted to own, control or have power to vote, or (b) such conversion would not be permitted. No notice delivered to the Corporation pursuant to Subsection 3.2 hereof by a Bank Affiliate electing to convert shares of Class B Common Stock into shares of Class A Common Stock shall be effective for purposes of this Article FOURTH or binding upon the Corporation unless such notice includes or is accompanied by a written representation to the Corporation (which representation shall state that it shall survive such conversion and continue to be binding upon such Bank Affiliate and its successors and assigns thereafter), to the effect that the Bank Affiliate is legally entitled to exercise its rights to convert such shares of Class B Common Stock and that such conversion will not violate the prohibitions set forth in the preceding sentence. The delivery to the Corporation of such notice pursuant to Subsection 3.2 of Section B of this Article FOURTH together with such representation shall, subject to such Bank Affiliate’s compliance with all other conditions to such conversion set forth in this Article FOURTH, obligate the Corporation to issue and deliver the shares of Class A Common Stock which are the subject of such notice in accordance with the provisions of this Article FOURTH.

 

Section 4.           Registration of Transfer.     The Corporation shall keep at its principal office (or at such other place as the Corporation reasonably designates) a register for the registration of the shares of Common Stock. Upon the surrender of any certificate representing shares of Common Stock at such place, the Corporation shall, at the request of the holder of such certificate, execute and deliver a new certificate or certificates in exchange therefor representing in the aggregate the number of shares of such class represented by the surrendered certificate, and the Corporation forthwith shall cancel such surrendered certificate. Each such new certificate will, subject to Section B.6 of this Article FOURTH, be registered in such name and will represent such number of the shares represented by the surrendered certificate as is requested by the holder of the surrendered certificate and will be substantially identical in form

 



 

to the surrendered certificate. The issuance of new certificates shall be made without charge to the holders of the surrendered certificates for any issuance tax in respect thereof or other cost incurred by the Corporation in connection with such issuance.

 

Section 5.                                               Replacement.       Upon receipt of evidence reasonably satisfactory to the Corporation of the ownership and the loss, theft, destruction or mutilation of any certificate evidencing one or more shares of Common Stock of either class, and in the case of any such loss, theft or destruction, upon receipt of indemnity reasonably satisfactory to the Corporation, or, in the case of any such mutilation upon surrender of such certificate, the Corporation shall (at its expense) execute and deliver in lieu of such certificate a new certificate of like kind representing the number of shares of such class represented by such lost, stolen, destroyed or mutilated certificate and dated the date of such lost, stolen, destroyed or mutilated certificate.

 

Section 6.                                               Restrictions On Transfers of Shares.            Any other provision in this Article FOURTH notwithstanding, (i) no shares of Class A Common Stock and no certificate representing shares of Class A Common Stock shall be issued or issuable upon any conversion of shares of Class B Common Stock pursuant to this Article FOURTH to a Person other than the holder of the shares of Class B Common Stock being converted hereunder, and (ii) no shares of Common Stock of either class and no certificate representing shares of Common Stock of either class shall in any other case be issued or issuable to a Person other than the holder of such shares of Common Stock, if in any such case the issuance of such shares of Common Stock or certificate to such other Person would result in a violation of any valid restriction upon or condition precedent to the transfer of such shares of Common Stock by the holder thereof to such other Person.

 

FIFTH

 

The name and mailing address of the sole incorporator of the Corporation is as follows:

 

NAME

 

MAILING ADDRESS

 

 

 

Gregory J. Dziak

 

1400 KeyBank Center

 

 

800 Superior Avenue

 

 

Cleveland, Ohio 44114

 

SIXTH

 

The Board of Directors of the Corporation shall have the power to adopt, amend or repeal the By-laws of the Corporation.

 

SEVENTH

 

Section 203 of the DGCL shall not apply to any business combination (as defined in Section 203(c)(3) of the DGCL, as amended from time to time, or in any successor thereto, however denominated), in which the Corporation shall engage.

 


 

EIGHTH

 

Section 1.                                               Elimination of Personal Liability.

 

(a)                                          The directors of the Corporation shall incur no personal liability to the Corporation or its stockholders for monetary damages for the breach of fiduciary duty as a director; provided, that such director liability shall not be limited or eliminated (i) for any breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for any acts or omissions by the director not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) under Section 174 of the DGCL, or (iv) for any transaction from which the director derived an improper personal benefit.

 

(b)                                          If the DGCL is amended in the future to authorize corporate action further eliminating or limiting the personal liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by the DGCL, as so amended from time to time.

 

(c)                                           Any repeal or modification of this Article SEVENTH shall not increase the personal liability of any director of this Corporation for any act or occurrence taking place prior to such repeal or modification, or otherwise adversely affect any right or protection of a director of the Corporation existing at the time of such repeal or modification.

 

Section 2.                                               Indemnification.

 

2.1                               Right to Indemnification.  Each Person who was or is made a party or is threatened to be made a party to or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (hereinafter a “proceeding”), by reason of the fact that he or she is or was a director or officer of the Corporation or is or was serving at the request of the Corporation as a director, officer or agent of another corporation or of a partnership, joint venture, trust or other enterprise, including service with respect to employee benefit plans (hereinafter an “indemnitee”), whether the basis of such proceeding is alleged action in an official capacity as a director, officer, employee or agent or in any other capacity while serving as a director, officer or agent, shall be indemnified and held harmless by the Corporation to the fullest extent authorized by the DGCL, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than such law permitted the Corporation to provide prior to such amendment), against all expense, liability and loss (including attorneys’ fees, judgments, fines, taxes or penalties and amounts paid in settlement) reasonably incurred or suffered by such indemnitee in connection therewith. Such indemnification shall continue as to an indemnitee who has ceased to be a director, officer or agent and shall inure to the benefit of the indemnitee’s heirs, executors and administrators; provided, however, that except as provided in Section 2.2 of this Article SEVENTH with respect to proceedings to enforce rights to indemnification, the Corporation shall indemnify any such indemnitee in connection with a proceeding (or part thereof) initiated by such indemnitee only if such proceeding (or part thereof) was authorized by the Board of Directors of the Corporation.

 



 

The right to indemnification conferred in this Certificate of Incorporation shall be a contract right and shall include the right to be paid by the Corporation the expenses incurred in defending any such proceeding in advance of its final disposition (hereinafter an “advancement of expenses”); provided, however, that, if the DGCL so requires, an advancement of expenses incurred by an indemnitee in his or her capacity as a director or officer (and not in any other capacity in which service was or is rendered by such indemnitee, including without limitation, service to an employee benefit plan) shall be made only upon delivery to the Corporation of an undertaking, by or on behalf of such indemnitee, to repay all amounts so advanced if it shall ultimately be determined by final judicial decision from which there is no further right to appeal that such indemnitee is not entitled to be indemnified for such expenses under this Section, the DGCL or otherwise (hereinafter an “undertaking”).

 

2.2                               Right of Indemnitee to Bring Suit.   If a claim under Section 2.1 of this Article SEVENTH is not paid in full by the Corporation within ninety days after a written claim has been received by the Corporation, the indemnitee may at any time thereafter bring suit against the Corporation to recover the unpaid amount of the claim. If successful in whole or in part in any such suit or in a suit brought by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the indemnitee shall be entitled to be paid also the expense of prosecuting or defending such suit. In (i) any suit brought by the indemnitee to enforce a right to indemnification hereunder (but not in a suit brought by the indemnitee to enforce a right to an advancement of expenses) it shall be a defense that the indemnitee has not met the applicable standard of conduct set forth in the DGCL, and (ii) any suit by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking the Corporation shall be entitled to recover such expenses upon a final adjudication that the indemnitee has not met the applicable standard of conduct set forth in the DGCL. Neither the failure of the Corporation (including its Board of Directors, independent legal counsel or its stockholders) to have made a determination prior to the commencement of such suit that indemnification of the indemnitee is proper in the circumstances because the indemnitee has met the applicable standard of conduct set forth in the DGCL, nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel or its stockholders) that the indemnitee has not met such applicable standard of conduct, shall create a presumption that the indemnitee has not met the applicable standard of conduct or, in the case of such a suit brought by the indemnitee, be a defense to such suit. In any suit brought by the indemnitee to enforce a right hereunder, or by the Corporation to recover an advancement of expenses pursuant to the terms of an undertaking, the burden of proving that the indemnitee is entitled to be indemnified or to such advancement of expenses under this Section or otherwise shall be on the indemnitee. No potential indemnitee shall be entitled to advancement of expenses under this Certificate of Incorporation or the By-laws of the Corporation in any action involving a proceeding by the Corporation against the indemnitee for any claim by the Corporation involving a breach of fiduciary duty of the indemnitee to the Corporation, gross negligence, bad faith, intentional misconduct or unlawful conduct.

 

2.3                               Non-Exclusivity of Rights. The rights to indemnification and to the advancement of expenses conferred in this Certificate of Incorporation shall not be exclusive of any other right which any Person may have or hereafter acquire under any statute, this Certificate of Incorporation, By-law, contract or agreement, vote of stockholders or disinterested directors or otherwise.

 



 

2.4                                         Insurance. The Corporation may maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of the Corporation or another corporation, partnership, joint venture, trust or other enterprise against any expense, liability or loss, whether or not the Corporation would have the power to indemnify such Person against such expense, liability or loss under the DGCL.

 

2.5                                         Indemnification of Employees or Agents of the Corporation.   The Corporation may, to the extent authorized from time to time by the Board of Directors, grant rights to indemnification and to the advancement of expenses, to any employee or agent of the Corporation to the fullest extent of the provisions of this Section with respect to the indemnification and advancement of expenses of directors and officers of the Corporation.

 

THE UNDERSIGNED, being the sole incorporator hereinbefore named, for the purpose of forming a corporation pursuant to the Delaware General Corporation Law, does make this Certificate, hereby declaring and certifying that this is my act and deed and the facts herein stated are true under penalties of perjury, and accordingly I have hereunto set my hand this 10th day of November, 2009.

 

 

/s/ Gregory J. Dziak

 

Gregory J. Dziak, Sole Incorporator

 




Exhibit 3.12

 

AMENDED AND RESTATED BYLAWS

OF

SPARTAN FOODS HOLDING COMPANY(1)

 

ARTICLE I

 

STOCKHOLDERS

 

1.1.                            Meetings.

 

1.1.1.                  Place.  Meetings of the stockholders shall be held at such place as may be designated by the board of directors.

 

1.1.2.                  Annual Meeting.  An annual meeting of the stockholders for the election of directors and for other business shall be held on such date and at such time as may be fixed by the board of directors.

 

1.1.3.                  Special Meetings.  Special meetings of the stockholders of the Company may be called at any time by the chief executive officer, the board of directors, or by the holders of a majority of the outstanding shares of stock of the Company entitled to vote at the meeting.

 

1.1.4.                  Quorum.  The presence, in person or by proxy, of the holders of a majority of the outstanding shares of stock of the Company entitled to vote on a particular matter shall constitute a quorum for the purpose of considering such matter.

 

1.1.5.                  Voting Rights.  Except as otherwise provided herein, in the certificate of incorporation or by law, every stockholder shall have the right at every meeting of stockholders to one vote for every share standing in the name of such stockholder on the books of the Company which is entitled to vote at such meeting.  Every stockholder may vote either in person or by proxy.

 

1.1.6.                  Notice of Meetings; Waiver.

 

(a)                                 Written or printed notice of the place, date and hour of the meeting of the stockholders, and, in the case of a special meeting, the purpose or purposes for which such meeting is called, shall be delivered not less than ten nor more than sixty days prior to the meeting, either personally or by mail, by or at the direction of the board of directors or person calling the meeting, to each stockholder of record entitled to vote at such meeting.  If such notice is mailed, it shall be deemed to have been delivered to a stockholder on the third day after it is deposited in the United States mail, postage prepaid, addressed to the stockholder at his or her address as it appears on the record of stockholders of the Company, or, if he or she shall have filed with the secretary of the Company a written request that notices to him or her be mailed to some other address, then directed to him or her at such other address.  Such further notice shall be given as may be required by law or otherwise provided herein.

 

(b)                                 No notice of any meeting of stockholders need be given to any stockholder who submits a signed waiver of notice, whether before or after the meeting.  Neither the business to be transacted at, nor the purpose of, any regular or special meeting of the stockholders need be specified in a

 


(1)  Amended and restated as of July 10, 2015.

 



 

written waiver of notice.  The attendance of any stockholder at a meeting of stockholders shall constitute a waiver of notice of such meeting, except when the stockholder attends a meeting for the express purpose of objecting, at the beginning of the meeting, to the transaction of any business on the ground that the meeting is not lawfully called or convened.

 

1.2.                            Stockholder Business and Nominations.

 

1.2.1.                  Annual Meetings of Stockholders.  Nominations of persons for election to the board of directors of the Company and the proposal of business to be considered by the stockholders at an annual meeting of stockholders may be made (i) by or at the direction of the board of directors or the chairman of the board, or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

1.2.2.                  Special Meetings of Stockholders.  Only such business as shall have been brought before the special meeting of the stockholders pursuant to the Company’s notice of meeting pursuant to Section 1.1.6 of these bylaws shall be conducted at such meeting.  Nominations of persons for election to the board of directors may be made at a special meeting of stockholders at which directors are to be elected pursuant to the Company’s notice of meeting (i) by or at the direction of the board of directors or the chairman of the board or (ii) by any stockholder of the Company who is entitled to vote at the meeting.

 

ARTICLE II

 

DIRECTORS

 

2.1.                            Number and Term.  The number of directors shall be such as the board of directors may by resolution direct from time to time.  Except as otherwise provided in the certificate of incorporation or by law, at each meeting of the stockholders for the election of directors, provided a quorum is present, the directors shall be elected by a plurality of the votes cast in such election.  Each director shall hold office for a term that will expire at the annual meeting of stockholders immediately succeeding their election, and until his successor shall have been elected and shall qualify, or until his death or until he shall resign or shall have been removed in the manner hereinafter provided.  The chairman of the board, if one be elected, shall be chosen from among the directors.

 

2.2.                            Meetings.

 

2.2.1.                  Place.  Meetings of the board of directors shall be held at such place as may be designated by the board or in the notice of the meeting.

 

2.2.2.                  Regular Meetings.  Regular meetings of the board of directors shall be held at such times as the board may designate.  Notice of regular meetings need not be given.

 

2.2.3.                  Special Meetings.  Special meetings of the board may be called by direction of the chief executive officer or any two members of the board on three days’ notice to each director, either personally or by mail, telegram, electronic mail or facsimile transmission.

 

2.2.4.                  Quorum.  A majority of all the directors in office shall constitute a quorum for the transaction of business at any meeting.

 

2.2.5.                  Voting.  Except as otherwise provided herein, in the certificate of incorporation or by law, the vote of a majority of the directors present at any meeting at which a quorum is present shall constitute the act of the board of directors.

 

2



 

2.2.6.                  Committees.  The board of directors may, by resolution adopted by a majority of the whole board, designate one or more committees, each committee to consist of one or more directors and such alternate members (also directors) as may be designated by the board.  Unless otherwise provided herein, in the absence or disqualification of any member of a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such member or members constitute a quorum, may unanimously appoint another director to act at the meeting in the place of any such absent or disqualified member.  Except as otherwise provided herein, in the certificate of incorporation or by law, any such committee shall have and may exercise the powers of the full board of directors to the extent provided in the resolution of the board directing the committee.

 

ARTICLE III

 

OFFICERS

 

3.1.                            Election.  At its first meeting after each annual meeting of the stockholders, the board of directors shall elect a chief executive officer or president, treasurer, secretary and such other officers as it deems advisable.

 

3.2.                            Authority, Duties and Compensation.  The officers shall have such authority, perform such duties and serve for such compensation as may be determined by resolution of the board of directors.  Except as otherwise provided by board resolution, (i) the chief executive officer shall be the president of the Company, shall have general supervision over the business and operations of the Company, may perform any act and execute any instrument for the conduct of such business and operations and shall preside at all meetings of the board and stockholders, (ii) the other officers shall have the duties customarily related to their respective offices, and (iii) any vice president, or vice presidents in the order determined by the board, shall in the absence of the chief executive officer, have the authority and perform the duties of the chief executive officer.

 

ARTICLE IV

 

INDEMNIFICATION

 

4.1.                            Right to Indemnification.  The Company shall indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative by reason of the fact that such person is or was a director, officer or trustee of the Company, or is or was serving at the request of the Company as a director, officer or trustee of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise (hereinafter an “indemnitee”), against expenses (including attorneys’ fees), judgments, fines, ERISA excise taxes, penalties and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, whether the basis of such proceeding is alleged action in an official capacity as a director, officer or trustee or in any other capacity while serving as a director, officer or trustee, to the fullest extent authorized by the Delaware General Corporation Law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to provide prior to such amendment) (“Delaware General Corporation Law”); provided, that, the Company shall not be required to indemnify any person who was or is a party or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, by or in the right of the Company to procure a judgment in its favor unless such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the Company.  The termination of any action, suit or proceeding by judgment, order,

 

3



 

settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person seeking indemnification did not act in good faith and in a manner which such person reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that such person’s conduct was unlawful.

 

4.2.                            Advance of Expenses.  In addition to the right to indemnification conferred in Section 4.1 of this Article IV, expenses (including attorneys’ fees) incurred by an indemnitee in defending any civil, criminal, administrative or investigative action, suit or proceeding shall be paid by the Company in advance of the final disposition of such action, suit or proceeding upon receipt of an undertaking by or on behalf of such indemnitee to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified by the Company as authorized in this Article IV.

 

4.3.                            Indemnification Not Exclusive; Inuring of Benefit.  The indemnification and advancement of expenses provided by, or granted pursuant to, the other Sections of this Article IV shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any law, the certificate of incorporation, these bylaws, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office, and shall inure to the benefit of the heirs, executors and administrators of any such person.

 

4.4.                            Insurance and Other Indemnfication.  The Company may purchase and maintain insurance on behalf of any person who is or was a director, officer, trustee, employee or agent of the Company, or is or was serving at the request of the Company as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against any liability asserted against such person and incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Company would have the power to indemnify such person against such liability under the provisions of the Delaware General Corporation Law.  The board of directors shall have the power to give other indemnification to the extent permitted by statute.

 

4.5.                            Employee or Agent.  The Company may, to the extent authorized from time to time by the board of directors, grant rights to indemnification and to the advancement of expenses to any employee or agent of the Company to the fullest extent of the provisions of this Article IV with respect to the indemnification and advancement of expenses of directors, officers and trustees of the Company.

 

4.6.                            Certain Defined Terms.  For purposes of this Article IV, references to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, trustees, employees or agents, so that any person who is or was a director, officer, trustee, employee or agent of such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, shall stand in the same position under the provisions of this Article IV with respect to the resulting or surviving corporation as such person would have with respect to such constituent corporation if its separate existence had continued.

 

For purposes of this Article IV, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, trustee, employee or agent of the Company which imposes duties on, or involves service by, such director, officer, trustee, employee or agent with respect to an employee benefit

 

4



 

plan, its participants or beneficiaries; and a person who acted in good faith and in a manner such person reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan shall be deemed to have acted in a manner not opposed to the best interests of the Company for purposes of this Article IV.

 

4.7.                            Contractual Obligation.  The indemnification and advancement of expenses provided by, or granted pursuant to, this Article IV shall be contract rights and shall continue as to a person who has ceased to be a director, officer, trustee employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.  Any amendment, alteration or repeal of this Article IV that adversely affects any right of an indemnitee or its successors shall be prospective only and shall not limit or eliminate any such right with respect to any proceeding involving any occurrence or alleged occurrence of any action or omission to act that took place prior to such amendment, alteration or repeal.

 

ARTICLE V

 

TRANSFER OF SHARE CERTIFICATES

 

Transfers of share certificates and the shares represented thereby shall be made on the books of the Company only by the registered holder or by duly authorized attorney.  Transfers shall be made only on surrender of the share certificate or certificates.

 

ARTICLE VI

 

AMENDMENTS

 

These bylaws may be amended or repealed by (i) the affirmative vote of the holders of record of a majority of the outstanding shares of the stock of the Company entitled to vote in respect thereof, given at an annual meeting or at any special meeting, provided that notice of the proposed alteration or repeal or of the proposed new bylaws be included in the notice of such meeting, or (ii) the affirmative vote of a majority of the members of the board of directors, at any regular or special meeting of the board of directors.

 

5




Exhibit 3.13

 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

STATE OF SOUTH CAROLINA

SECRETARY OF STATE

 

ARTICLES OF INCORPORATION

 

1.             The name of the proposed corporation is SFA Acquisition, Inc.

 

2.                                      The initial registered office of the corporation is 300 E. McBee Avenue, Suite 500, Greenville, South Carolina 29601, and the initial registered agent at such address is Frank C. Williams Ill.

 

 

I hereby consent to the appointment as registered agent of the corporation:

 

 

 

 

 

/s/ Frank C. Williams III

 

 

Frank C. Williams III, Registered Agent

 

 

3.                                      The corporation is authorized to issue shares of stock as follows. Complete “a” or “b”, whichever is applicable;

 

a.                                      x           The corporation is authorized to issue a single class of shares. The total number of shares authorized is 1,000,000.

 

b.                                      o            The corporation is authorized to issue more that one class of shares:

 

Class of Shares

 

Authorized No. of Each Class

 

 

 

 

 

 

 

 

 

 

The relative right, preference, and limitations of the shares of each class, and of each series within a class, are as follows:

 

(i) Shareholders of the corporation shall not have statutory preemptive rights to purchase shares of the corporation.

 

(ii) Shareholders shall not be entitled to cumulate votes for directors.

 

(ii) A director of the corporation shall not be personally liable to the corporation or any of its shareholders for Monetary damages for breach of fiduciary duty as a director, provided that this provision shall not be deemed to eliminate or limit the liability of a director (a) for any breach of the director’s duty of loyalty to the corporation or its shareholders; (b) for acts or omissions not in good faith or which involve gross negligence, intentional misconduct, or a knowing violation of law; (c) imposed under Section 33-8-330 of the Act (improper distribution to shareholder); or (d) for any transaction from which the director derived an improper personal benefit.

 

4.                                      The existence of the corporation shall begin as of the filing date with the Secretary of State unless a delayed date is indicated (See Section 33-1-230(b) of the 1976 South Carolina Code of Laws, as amended). N/A

 

050302-0041     FILED: 03/02/2006
SFA ACQUISITION, INC.

Mark Hammond

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

 

SFA Acquisition, Inc.

 

 

Name of Corporation

 

5.                                      The optional provisions, which the corporation elects to include in the articles of  incorporation, are as follows (See the applicable provisions of Sections 33-2-102, 35-2-105, and 35-2-221 of the 1976 South Carolina Code of Laws, as amended). N/A

 

6.                                      The name, address, and signature of each incorporator is as follows (only one is required).

 

Frank C. Williams III

300 E. McBee Avenue

Suite 500

Greenville, South Carolina 29601

 

 

/s/ Frank C. Williams III

 

 

Frank C. Williams III, Incorporator

 

 

7.                                      I, Peter B. Byford, an attorney licensed to practice in the state of South Carolina, certify that the corporation, to whose articles of incorporation this certificate is attached, has complied with the requirements of Chapter 2, Title 33 of the 1976 South Carolina Code of Laws, as amended, relating to the articles of incorporation.

 

Date

1 March 2005

 

/s/ Peter B. Byford

 

 

 

Peter B. Byford

 

 

 

Leatherwood Walker Todd & Mann, P.C.

 

 

 

PO Box 87

 

 

 

300 East McBee Avenue, Suite 500

 

 

 

Greenville, South Carolina 29601

 

 

 

(864) 242-6440

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

State of South Carolina

Department of Revenue

301 Gervais Street, P O Box 125 Columbia, South Carolina 29214

 

February 13, 2009

 

Office of Secretary of State

Capital Complex

1205 Pendleton St Suite 525

Columbia, SC 29201

 

SC File #                   20335510 9

 

SUBJECT              SPARTAN FOODS OF AMERICA INC

 

Dear Mr Hammond

 

Upon review, it has been determined that the charter of the above referenced corporation was erroneously cancelled on September 10, 2008 and it is, therefore, respectfully requested that you reinstate the charter of said corporation

 

Yours Truly,

 

Tax Resolution And Services

Corporate Section

(803) 896-1730

 

CC                                                                              SPARTAN FOODS OF AMERICA INC
4250 ORCHARD PARK BLVD
SPARTANBURG SC,29303 4400

 

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

 

 

ORIGINAL ON FILE IN THIS OFFICE

 

080910-0595

Filed: 9/10/2009

Mar 08 2016

 

SPARTAN FOODS OF AMERICA INC

REFERENCE ID: 1603081501187

 

Filing Fee: $0.00

 

 

 

 

Mark Hammond  South Carolina Secretary of State

 

STATE OF SOUTH CAROLINA

SECRETARY OF STATE

COLUMBIA, SOUTH CAROLINA

 

CERTIFICATE OF DISSOLUTION

BY ADMINISTRATIVE DISSOLUTION

 

SPARTAN FOODS OF AMERICA INC

 

Date of Dissolution:

4250 ORCHARD PARK BLVD

 

SEP 10, 2008

SPARTANBURG, SC 29303

 

20335510

 

South Carolina Code of Laws §33-14-200 provides that the South Carolina Secretary of State’s Office shall administratively dissolve a corporation for the following reasons:

 

(1)         The corporation does not pay any franchise taxes, taxes payable under Chapter 7, of Title 12, or penalties imposed by the law;

 

(2)         The corporation does not deliver its annual report to the Department of Revenue when it is due;

 

(3)         The corporation is without a registered agent or registered office in this state;

 

(4)         The corporation does not notify the Secretary of State that its registered agent or registered office has been changed, that its registered agent has resigned, or that its registered office has been discontinued; or

 

(5)         The corporation’s period of duration stated in its articles of incorporation expires

 

Based on the records provided by the South Carolina Department of Revenue, it appears that after proper statutory notice, the above named corporation has failed to meet the requirements of (1) and/or (2) as set forth above

 

Now therefore, under the authority of South Carolina Code of Laws §33-14-200, the above named corporation is administratively dissolved as of the date of this Certificate of Dissolution.

 

 

/s/ Mark Hammond

 

Mark Hammond

 

South Carolina Secretary of State

 

Inquiries concerning this administrative dissolution should be directed to the South Carolina Department of Revenue, Corporate Section, Columbia, SC 28214-0100 or (803) 896-1730.

 

ADM. DISSOLUTION (SS-02)

Form Revised by South Caroline

 

Secretary of State, April 2008

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

STATE OF SOUTH CAROLINA
SECRETARY OF STATE

 

ARTICLES OF AMENDMENT

 

TYPE OR PRINT CLEARLY IN BLACK INK

 

Pursuant Section 33-10-106 of the 1976 South Carolina Code of Laws, as amended, the undersigned corporation adopts the following Articles of Amendment to its Articles of Incorporation:

 

1.              The name of the corporation is SFA Acquisition, Inc.

 

2.              Date of Incorporation is March 2, 2005.

 

3.              Agent’s Name and Address: Frank C. Williams III, 300 E. McBee Avenue, Suite 500, Greenville, South Carolina 29601.

 

4.              On March 31, 2005, the corporation adopted the following Amendment(s) of its Articles of Incorporation (Type or attach the complete text of each Amendment)

 

THEREFORE, BE IT RESOLVED, that the name of the Corporation is hereby changed to:

 

Spartan Foods of America, Inc.

 

5.              The manner, if not set forth in the Amendment, in which any exchange, reclassification, or cancellation of issued shares provided for in the Amendment shall be effected, is as follows: (if not applicable insert “not applicable” or “NA”).

 

NA

 

6.              Complete either “a” or “b” whichever is applicable.

 

a.              o Amendment(s) adopted by shareholder action.

At he date of adoption of the Amendment, the number of outstanding shares of each voting group entitled to vote separately on the Amendment, and the vote of such shares was:

 

 

 

Number of

 

Number of

 

Number of Votes

 

Number of Undisputed*

Voting

 

Outstanding

 

Votes Entitled

 

Represented at

 

Shares

Group:

 

Shares

 

to be Cast

 

the meeting

 

For

 

or

 

Against

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*NOTE: Pursuant to Section 33-10-106(6)(i) of the 1976 South Carolina Code of Laws, as amended, the

 

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

 

SFA Acquisition, Inc.

 

 

Name of Corporation

 

corporation can alternatively state the total number of disputed shares cast for the amendment by each voting group together with a statement that the number of cast for the amendment by each voting group was sufficient for approval by that voting group.

 

b.    x The Amendment(s) was duly adopted by the incorporators or board of directors without shareholder approval pursuant to Section 33-6-102(d), 33-10-102 and 33-10-105 of the 1976 South Carolina Code of Laws, as amended, and shareholder action was not required.

 

7.              Unless a delayed dated is specified, the effective date of these Articles of Amendment shall be the date of acceptance for filing by the Secretary of State (See Section 33-1-230(b) of 1976 South Carolina Code of Laws, as amended)

 

 

Date:

3-31-05

 

SFA ACQUISITION, INC.

 

 

 

 

 

By:

/s/ Patrick A. Duncan

 

 

 

Patrick A. Duncan, President

 


 

CERTIFIED TO BE A TRUE AND CORRECT COPY

AS TAKEN FROM AND COMPARED WITH THE

ORIGINAL ON FILE IN THIS OFFICE

Mar 08 2016

REFERENCE ID: 1603081501187

 

 

 

 

 

STATE OF SOUTH CAROLINA

SECRETARY OF STATE

 

NOTICE OF CHANGE OF REGISTERED OFFICE OR REGISTERED AGENT OR BOTH OF A SOUTH CAROLINA DOMESTIC OR FOREIGN CORPORATION

 

Pursuant to Sections 33-5-102 and 33-15-108 of the South Carolina Code of Laws, the undersigned corporation submits the following information.

 

1.              Name of Corporation: Spartan Foods of America, Inc.

 

2.              State of Incorporation: South Carolina

 

3.              Date of Incorporation or issue of Certificate of Authority: 3/2/2005

 

4.              Frank C. Williams III’s present street address is:

 

300 E. McBee Ave, Suite 500, Greenville, SC 29601

 

5.              Frank C. Williams III ’s street address is to be changed to:

 

2 West Washington Street, Suite 1100, Greenville, South Carolina 29601

 

6.              The address of the registered office and the address of the business office of the registered agent, as changed, will be identical.

 

7.              Frank C. Williams III has informed the above named corporation that Frank C. Williams III is changing his/her address and that the change of address will be filed with the Secretary of State’s Office.

 

 

/s/ Frank C. Williams III

 

Signature

 

 

 

Frank C. Williams III

 

Print Name

 

 

 

Registered Agent

 

Title

 

 




Exhibit 3.14

 

AMENDED AND RESTATED BYLAWS

OF

SPARTAN FOODS OF AMERICA, INC.

 

ARTICLE I
OFFICES

 

1.             Principal Office. The principal office of the Corporation shall be located in Spartanburg County, South Carolina or such other place as is designated by the Board of Directors.

 

2.             Registered Office. The registered office of the Corporation required by law to be maintained in the State of South Carolina may be, but need not be, identical with the principal office.

 

3.             Other Offices. The Corporation may have offices at such other places, either within or without the State of South Carolina, as the Board of Directors may from time to time determine or as the affairs of the Corporation may require.

 

ARTICLE II

MEETINGS OF SHAREHOLDERS

 

1.             Place of Meetings. All meetings of shareholders shall be held at the principal office of the Corporation or at such other place, either within or outside of the State of South Carolina, as shall be designated in the notice of the meeting or agreed upon by the Board of Directors.

 

2.             Annual Meeting. The annual meeting of the shareholders shall be held at the principal office of the Corporation or at such other place, either within or without the State of South Carolina, on such day and at such time as the Board of Directors shall from time to time determine, for the purpose of electing Directors of the Corporation and for the transaction of such other business as may be properly brought before the meeting.

 

3.             Special Meetings. Special meetings of the shareholders may be called at any time by the Chairman, President, any Vice President, the Secretary, or the Board of Directors of the Corporation.

 

4.             Notice of Meetings.

 

(a)           Electronic, written or printed notice stating the time and place of the meeting shall be delivered not less then ten nor more than sixty days before the date

 



 

thereof, either personally or by telephone, telegraph, teletype, or other form of wire or wireless communication, or by facsimile transmission, mail, or by private carrier, or by any other means permitted by law, by or at the direction of the Board of Directors, Chairman, President, Vice President, Secretary, or other person calling the meeting, to each shareholder of record entitled to vote at such meeting, provided that such notice must be given to all shareholders, including nonvoting shareholders, with respect to any meeting at which a merger, share exchange, sale of assets other than in the regular course of business, or voluntary dissolution is to be considered and in such other instances as required by law. If a new record date for the adjourned meeting is fixed pursuant to Paragraph 4 of Article VI, notice of the adjourned meeting shall be given to persons who are shareholders as of the new record date. Electronic notice shall be effective when sent to the shareholder entitled to such notice. If mailed, such notice shall be deemed to be delivered when deposited in the United States mail addressed to the shareholder at his, her, or its address as it appears on the record of shareholders of the Corporation, with postage thereon prepaid.

 

(b)           In the case of an annual or substitute annual meeting, the notice of meeting need not specifically state the business to be transacted thereat unless it is a matter, other than election of Directors, on which the vote of the shareholders is expressly required by the provisions of the South Carolina Code of Laws or notice of such purpose is otherwise required by law to be provided. In the case of a special meeting, the notice of meeting shall specifically state the purpose or purposes for which the meeting is called.

 

(c)           When a meeting is adjourned for more than one hundred twenty days or a new record date is or must be fixed as required by law, notice of the adjourned meeting shall be given as in the case of an original meeting. When a meeting is adjourned for one hundred twenty days or less in any one adjournment, it shall not be necessary to give any notice of the new date, time, and place of the adjourned meeting or of the business to be transacted thereat other than by announcement at the meeting at which the adjournment is taken.

 

(d)           A shareholder in a signed writing may waive notice of any meeting before or after the date and time stated in the notice by delivering such waiver to the Corporation for inclusion in the minutes. Attendance by a shareholder at a meeting constitutes a waiver of notice of such meeting, unless at the beginning of the meeting the shareholder objects to holding the meeting or transacting business at the meeting, or objects to considering a matter not within the purpose or purposes described in the meeting notice before it is voted on.

 

5.             Shareholders List. After fixing the record date for a meeting, the Secretary of the Corporation shall prepare an alphabetical list of the shareholders entitled to notice of such meeting or any adjournment thereof, arranged by voting group, class, and series, with the address of and number of shares held by each. Such list shall be kept on file at the principal office of the Corporation, or at a place identified in the meeting

 

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notice in the city where the meeting will be held, beginning two business days after notice of such meeting is given and continuing through the meeting, and on written demand shall be subject to inspection or copying by any shareholder, or his agent or attorney at any time during regular business hours. This list shall also be produced and kept open at the time and place of the meeting and shall be subject to inspection by any shareholder, or his agent or attorney during the entire time of the meeting or any adjournment.

 

6.             Quorum.

 

(a)           Unless otherwise provided by law, a majority of the votes entitled to be cast on a matter by a separate voting group shall constitute a quorum of such voting group on that matter at a meeting of shareholders. A separate voting group may only take action on a matter at a meeting if a quorum of those shares is present with respect to that matter. In the absence of a quorum at the opening of any meeting of shareholders, such meeting may be adjourned from time to time by the vote of a majority of the shares voting on the motion to adjourn, but no other business may be transacted until and unless a quorum is present. When a quorum is present at any adjourned meeting, any business may be transacted that might have been transacted at the original meeting. If a quorum is present at the original meeting, a quorum need not be present at an adjourned meeting to transact business.

 

(b)           At a meeting at which a quorum is present, a separate voting group may continue to do business until adjournment, notwithstanding the withdrawal of sufficient shareholders to leave less than a quorum of the separate voting group.

 

7.             Voting of Shares and Voting Groups.

 

(a)           Except as otherwise provided by the Articles of Incorporation or by law, each outstanding share having voting rights shall be entitled to one vote on each matter submitted to a vote at a meeting of shareholders. All shares entitled to vote and be counted together collectively on a matter as provided by the Articles of Incorporation or by the South Carolina Code of Laws shall constitute a single voting group. Additional required voting groups shall be determined in accordance with the Articles of Incorporation, the Bylaws, and the South Carolina Code of Laws.

 

(b)           Except in the election of Directors, at a shareholder meeting duly held and at which a quorum is present, action on a matter by a voting group shall be approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless the vote by a greater number is required by law or by the Articles of Incorporation or Bylaws of the Corporation. For such actions, abstentions shall not be treated as negative votes. Corporate action on such matters shall be taken only when approved by each and every voting group entitled to vote as a separate voting group on such matter as provided by the Articles of Incorporation or Bylaws or by the South Carolina Code of Laws.

 

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(c)           Voting on all matters except the election of Directors shall be by voice vote or by a show of hands, unless prior to the voting on any matter, the Chair of the meeting directs that voting on such matter shall be by ballot.

 

(d)           Absent special circumstances, shares of the Corporation shall not be entitled to vote if they are owned, directly or indirectly, by another corporation in which the Corporation owns, directly or indirectly, a majority of the shares entitled to vote for directors of the second corporation; provided that this provision does not limit the power of the Corporation to vote its own shares held by it in a fiduciary capacity.

 

8.             Proxies. Shares may be voted either in person or by one or more agents authorized by a written proxy executed by the shareholder or by his, her, or its duly authorized attorney-in-fact. A proxy shall not be valid after the expiration of eleven months from the date of its execution, unless the person executing it specifies therein the length of time for which it is to continue in force, or limits its use to a particular meeting. Any proxy shall be revocable by the shareholder unless the written appointment expressly and conspicuously provides that it is irrevocable and the appointment is coupled with an interest as required by law. The shareholder may revoke the proxy by filing with the Secretary of the Corporation either a written instrument of revocation or a duly executed proxy bearing a later date or by attending the meeting and voting his, her, or its shares in person.

 

9.             Inspectors of Election.

 

(a)           Appointment of Inspectors of Election. In advance of any meeting of shareholders, the Board of Directors may appoint any persons, other than nominees for office, as inspectors of election to act at such meeting or any adjournment thereof. If inspectors of election are not so appointed, the Chair of any such meeting may appoint inspectors of election at the meeting. The number of inspectors shall be either one or three. In case any person appointed as inspector fails to appear or fails or refuses to act, the vacancy may be filled by appointment by the Board of Directors in advance of the meeting or at the meeting by the person acting as chairman.

 

(b)           Duties of Inspectors. The inspectors of election shall determine the number of shares outstanding and the voting power of each, the shares represented at the meeting, the existence of a quorum, the authenticity, validity, and effect of proxies, receive votes, ballots, or consents, hear and determine all challenges and questions in any way arising in connection with the right to vote, count and tabulate all votes or consents, determine the result, and do such acts as may be proper to conduct the election or vote with fairness to all shareholders. The inspectors of election shall perform their duties impartially, in good faith, to the best of their ability and as expeditiously as is practical.

 

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(c)           Vote of Inspectors. If there are three inspectors of election, the decision, act, or certificate of a majority shall be effective in all respects as the decision, act, or certificate of all.

 

(d)           Report of Inspectors. On request of the Chair of the meeting, the inspectors shall make a report in writing of any challenge or question or matter determined by them and shall execute a certificate of any fact found by them. Any report or certificate made by them shall be prima facie evidence of the facts stated therein.

 

10.          Informal Action by Shareholders. Any action that is required or permitted to be taken at a meeting of the shareholders may be taken without a meeting if a consent in writing, setting forth the action so taken, shall be signed by all shareholders.

 

ARTICLE III
DIRECTORS

 

1.             General Powers. All corporate powers shall be exercised by or under the authority of, and the business and affairs of the Corporation shall be managed by, the Board of Directors or by such committees as the Board of Directors may establish pursuant to these Bylaws.

 

2.             Number, Term, and Qualification. The number of Directors of the Corporation shall be not less than one (1) or more than ten (10), as may be fixed or changed from time to time, within the minimum or maximum, by the Board of Directors. Each Director shall hold office until his or her death, resignation, retirement, removal, disqualification, or his or her successor is elected and qualifies. Directors need not be residents of the State of South Carolina or shareholders of the Corporation.

 

3.             Election of Directors. Except as provided in Paragraph 5 of this Article III, Directors shall be elected at the annual meeting of shareholders and those persons who receive the highest number of votes at a meeting at which a quorum is present shall be deemed to have been elected. If any shareholder so demands, election of Directors shall be by ballot.

 

4.             Removal. A Director may be removed from office with or without cause by a vote of shareholders at a meeting duly held at which a quorum of shares entitled to vote on his or her election is present, provided the notice of the meeting at which such action is to be taken states that a purpose of the meeting is removal of the Director and the number of votes cast to remove the Director exceeds the number of votes cast not to remove him or her. If a Director is elected by a voting group of shareholders, only the shareholders of that voting group may participate in the vote to remove him or her. If any Directors are so removed, new Directors may be elected at the same meeting.

 

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5.             Vacancies. A vacancy occurring in the Board of Directors, including, without limitation, a vacancy created by an increase in the authorized number of Directors or resulting from the shareholders’ failure to elect the full authorized number of Directors, may be filled by the Board of Directors or, if the Directors remaining in office constitute less than a quorum of the Directors, by the affirmative vote of a majority of all remaining Directors or by the sole remaining Director. If the vacant office was held by a Director elected by a voting group, only the remaining Director or Directors elected by that voting group or the holders of shares of that voting group are entitled to fill the vacancy. A Director elected to fill a vacancy shall be elected for the unexpired term of his or her predecessor in office. The shareholders may elect a Director at any time to fill any vacancy not filled by the Directors.

 

6.             Chair. There may be a Chair of the Board of Directors elected by the Directors from their number at any meeting of the Board of Directors. The Chair of the Board shall preside at all meetings of the Board of Directors and of shareholders and perform such other duties as may be directed by the Board of Directors.

 

7.             Compensation. The Board of Directors may provide for the compensation of Directors for their services as such and may provide for the payment of any and all expenses incurred by the Directors in connection with such services.

 

8.             Executive and Other Committees.

 

(a)           The Board of Directors, by resolution adopted by a majority of the number of Directors then in office, may designate from among its members an Executive Committee and one or more other committees, each consisting of two or more Directors and each of which, to the extent authorized by law or provided in the resolution, shall have and may exercise all of the authority of the Board of Directors, except no such committee may: (1) authorize distributions; (2) approve or propose to shareholders action that is required to be approved by shareholders under the South Carolina Code of Laws or any successor to such statutes; (3) fill vacancies on the Board of Directors or on any of its committees; (4) amend the Articles of Incorporation; (5) adopt, amend, or repeal these Bylaws; (6) approve a plan of merger not requiring shareholder approval; (7) authorize or approve reacquisition of shares, except according to a formula or method prescribed by the Board of Directors; or (8) authorize or approve the issuance or sale or contract for sale of shares, or determine the designation and relative rights, preferences, and limitations of a class or series of shares, except that the Board of Directors may authorize a committee (or a senior executive officer of the Corporation) to do so within limits specifically prescribed by the Board of Directors.

 

(b)           Any resolutions adopted or other action taken by any such committee within the scope of the authority delegated to it by the Board of Directors shall be deemed for all purposes to be adopted or taken by the Board of Directors. The designation of any committee and the delegation thereto of authority shall not operate to

 

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relieve the Board of Directors, or any member thereof, of any responsibility or liability imposed upon it or him or her by law.

 

(c)           Regular meetings of any such committee may be held without notice at such time and place as such committee may fix from time to time by resolution. Special meetings of any such committee may be called by any member thereof upon not less than one day’s notice stating the place, date and hour of such meeting, which notice must be written and, if mailed, shall be deemed to be delivered when deposited in the United States mail addressed to any member of the committee at his or her business address. Any member of any committee may in a signed writing waive notice of any meeting, and no notice of any meeting need be given to any member thereof who attends in person. The notice of a meeting of any committee need not state the business proposed to be transacted at the meeting.

 

(d)           A majority of the members of any such committee shall constitute a quorum for the transaction of business at any meeting thereof, and actions of such committee must be authorized by the affirmative vote of a majority of the members of such committee.

 

(e)           Any member of any such committee may be removed at any time with or without cause by resolution adopted by a majority of the Board of Directors, and vacancies in the membership of a committee resulting from death, resignation, disqualification, or removal shall be filled by a majority of the Board of Directors.

 

(f)            Any such committee shall elect a presiding officer from among its members and may fix its own rules of procedure which shall not be inconsistent with these Bylaws. It shall keep regular minutes of its proceedings and report the same to the Board of Directors for its information at the meeting thereof held next after the proceedings shall have been taken.

 

ARTICLE IV

MEETINGS OF DIRECTORS

 

1.             Regular Meetings. A regular meeting of the Board of Directors shall be held immediately after, and at the same place as, the annual meeting of shareholders. In addition, the Board of Directors may provide, by resolution, the time and place, either within or outside of the State of South Carolina, for the holding of additional regular meetings.

 

2.             Special Meetings. Special meetings of the Board of Directors may be called by or at the request of the Chair of the Board (if one has been duly elected), the Chairman, President, or any Director. Such meetings may be held either within or without the State of South Carolina.

 

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3.             Notice of Meetings.

 

(a)           Regular meetings of the Board of Directors may be held without notice.

 

(b)           The person or persons calling a special meeting of the Board of Directors shall, at least one day before the meeting, give notice thereof either by telegraph, teletype, facsimile transmission, mail, electronic mail, or private carrier or by any other means permitted by law. Such notice need not specify the business to be transacted at, or the purpose of, the meeting that is called. Notice of an adjourned meeting need not be given if the time and place are fixed at the meeting adjourning and if the period of adjournment does not exceed ten days in any one adjournment.

 

(c)           A Director, in a signed writing, may waive notice of any meeting before or after the date and time stated in the notice. Attendance by a Director at a meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened and does not vote for or assent to action taken at the meeting.

 

4.             Quorum. A majority of the Directors in office immediately before the meeting shall constitute a quorum for the transaction of business at any meeting of the Board of Directors.

 

5.             Manner of Acting.

 

(a)           Except as otherwise provided in this paragraph, the act of a majority of the Directors then in office shall be the act of the Board of Directors, unless a greater number is required by law, the Articles of Incorporation, or a Bylaw adopted by the shareholders.

 

(b)           A Director who is present at a meeting of the Board of Directors at which action on any corporate matter is taken shall be presumed to have assented to the action taken unless his or her contrary vote is recorded or his or her dissent is otherwise entered in the minutes of the meeting or unless he or she shall file his or her written dissent to such action with the person acting as the secretary of the meeting before the adjournment thereof or shall forward such dissent by registered mail to the Secretary of the Corporation immediately after the adjournment of the meeting. Such right of dissent shall not apply to a Director who voted in favor of such action.

 

(c)           The vote of a majority of the number of Directors then in office shall be required to adopt a resolution constituting an Executive Committee or other committee of the Board of Directors. The vote of a majority of the Directors then holding office shall be required to adopt a resolution dissolving the Corporation without action by the shareholders in circumstances authorized by law. Vacancies in the Board of Directors may be filled as provided in Paragraph 5 of Article III of these Bylaws.

 

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6.             Informal Action by Directors. Action taken by the Directors or members of a committee of the Board of Directors without a meeting is nevertheless Board or committee action if written consent to the action in question is signed by all of the Directors or members of the committee, as the case may be, and filed with the minutes of the proceedings of the Board of Directors or committee, whether done before or after the action so taken. Such action will become effective when the last Director or committee member signs the consent, unless the consent specifies a different date. Such consent will have the same force and effect as a unanimous vote of the Board of Directors or the committee, as the case may be.

 

7.             Attendance by Telephone. Any one or more Directors or members of a committee may participate in a meeting of the Board of Directors or committee by means of a conference telephone or similar communications device that allows all persons participating in the meeting to hear each other simultaneously, and such participation in the meeting shall be deemed presence in person at such meeting.

 

ARTICLE V

OFFICERS

 

1.             Number. The officers of the Corporation shall consist of a Chairman, President, a Secretary, and such Vice Presidents, Assistant Secretaries, Treasurers, Assistant Treasurers, and other officers as the Board of Directors may from time to time appoint. Any two or more offices, other than that of President and Secretary, may be held by the same person. In no event, however, may an officer act in more than one capacity where action of two or more officers is required.

 

2.             Appointment and Term. The officers of the Corporation shall be appointed by the Board of Directors. Such appointment may be made at any regular or special meeting of the Board of Directors. Each officer shall hold office until his or her death, resignation, retirement, removal, disqualification, or his or her successor is appointed and qualifies. If so authorized by the Board of Directors, the President may appoint one or more officers or assistant officers as he or she deems necessary.

 

3.             Removal. Any officer or agent appointed by the Board of Directors may be removed by the Board with or without cause, but such removal shall be without prejudice to the contract rights, if any, of the person so removed.

 

4.             Compensation. The compensation of all officers of the Corporation shall be fixed by the Board of Directors.

 

5.             Powers and Duties. All officers, as between themselves and the Corporation, shall have such authority and perform such duties as are customarily incident to their respective offices, and as may be specified from time to time by the Board of Directors, regardless of whether such authority and duties are customarily incident to such office. In the absence of any officer of the Corporation, or for any other

 

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reason the Board of Directors may deem sufficient, the Board of Directors may delegate for the time being the powers or duties of such officer, or any of them, to any other officer or to any Director. The Board of Directors may, from time to time, delegate to any officer the authority to appoint and remove subordinate officers and to prescribe their authority and duties.

 

6.             Bonds. The Board of Directors, by resolution, may require any or all officers, agents, and employees of the Corporation to give bond to the Corporation, with sufficient sureties, conditioned on the faithful performance of the duties of their respective offices or positions, and to comply with such other conditions as may from time to time be required by the Board of Directors.

 

7.             Voting Upon Stocks. Unless otherwise ordered by the Board of Directors, the Chairman and the President shall have full power and authority on behalf of the Corporation to attend, act, and vote at meetings on the shareholders of any corporation in which this Corporation may hold stock, and at such meetings shall possess and may exercise any and all rights and powers incident to the ownership of such stock and which, as the owner, the Corporation might have possessed and exercised if present. The Board of Directors may by resolution from time to time confer such power and authority upon any other person or persons.

 

ARTICLE VI

CERTIFICATES FOR AND TRANSFER OF SHARES

 

1.             Certificates for Shares. Shares of the Corporation shall be represented by certificates. Such certificates shall be in such form as required by law and as determined by the Board of Directors. Such certificates shall be issued to every shareholder for the fully paid shares owned by him, her, or it. Each certificate shall be signed by the President or any Vice President or a person who has been designated as the president of the Corporation and by the Secretary, Assistant Secretary, Treasurer, or Assistant Treasurer and may be sealed with the seal of the Corporation or a facsimile thereof. The signatures of any such officers upon a certificate may be facsimiles or may be engraved or printed. In case any officer who has signed or whose facsimile or other signature has been placed upon such certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the Corporation with the same effect as if he or she were such officer at the date of its issue. The certificates shall be consecutively numbered or otherwise identified and the name and address of the persons to whom they are issued, with the number of shares and date of issue, shall be entered on the stock transfer books of the Corporation.

 

2.             Transfer of Shares. Transfer of shares shall be made on the stock transfer books of the Corporation only upon surrender of the certificates, if any, or otherwise upon the furnishing of proper evidence of authority to transfer, for the shares sought to be transferred by the record holder thereof or by his or her duly authorized

 

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agent, transferee, or legal representative. All certificates surrendered for transfer shall be canceled before new certificates for the transferred shares shall be issued.

 

3.             Transfer Agent and Registrar. The Board of Directors may appoint one or more transfer agents and one or more registrars of transfer and may require all stock certificates to be signed or countersigned by the transfer agent and registered by the registrar of transfers.

 

4.             Record Date.

 

(a)           For the purpose of determining shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof or entitled to receive payment of any dividend or in order to make a determination of shareholders for any other proper purpose, the Board of Directors may fix in advance a date as the record date for any such determination of shareholders, such date in any case not to be more than seventy days before the meeting or action requiring a determination of shareholders.

 

(b)           If no record date is fixed by the Board of Directors for the determination of shareholders entitled to notice of or to vote at a meeting of shareholders or of shareholders entitled to receive payment of a dividend, the date on which notice of the meeting is mailed or the date on which the resolution of the Board of Directors declaring such dividend is adopted, as the case may be, shall be the record date for such determination of shareholders.

 

(c)           When a determination of shareholders entitled to vote at any meeting of shareholders has been made as provided in this paragraph, such determination shall apply to any adjournment thereof unless the Board of Directors fixes a new record date, which it shall do if the meeting is adjourned to a date more than one hundred twenty days after the date fixed for the original meeting.

 

5.             Lost Certificates. The Board of Directors may authorize the issuance of a new share certificate in place of a certificate claimed to have been lost or destroyed, upon receipt of an affidavit of such fact from the person claiming the loss or destruction. When authorizing such issuance of a new certificate, the Board of Directors may require the claimant to give the Corporation a bond in such sum as it may direct to indemnify the Corporation against loss from any claim with respect to the certificate claimed to have been lost or destroyed or the Board of Directors may, authorize the issuance of the new certificate without requiring such a bond.

 

6.             Holder of Record. Except as otherwise required by law, the Corporation may treat the person in whose name the shares stand of record on its books as the absolute owner of the shares and the person exclusively entitled to receive notification and distributions, to vote, and otherwise to exercise the rights, powers, and privileges of ownership of such shares.

 

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7.             Shares held by Nominees.

 

(a)           The Corporation shall recognize the beneficial owner of shares registered in the name of a nominee as the owner and shareholder of such shares for certain purposes if the nominee in whose name such shares are registered files with the Secretary of the Corporation a written certificate in a form prescribed by the Corporation, signed by the nominee, and indicating the following: (1) the name, address, and taxpayer identification number of the nominee; (2) the name, address, and taxpayer identification number of the beneficial owner; (3) the number and class or series of shares registered in the name of the nominee as to which the beneficial owner shall be recognized as the shareholder; and (4) the purposes for which the beneficial owner shall be recognized as the shareholder.

 

(b)           The purposes for which the Corporation shall recognize a beneficial owner as the shareholder may include the following: (1) receiving notice of, voting at, and otherwise participating in shareholders’ meetings; (2) executing consents with respect to the shares; (3) exercising dissenters’ rights under the South Carolina Code of Laws; (4) receiving distributions and share dividends with respect to the shares; (5) exercising inspection rights; (6) receiving reports, financial statements, proxy statements, and other communications from the Corporation; (7) making any demand upon the Corporation required or permitted by law; and (8) exercising any other rights or receiving any other benefits of a shareholder with respect to the shares.

 

(c)           The certificate shall be effective ten business days after its receipt by the Corporation and until it is changed by the nominee, unless the certificate specifies a later effective time or an earlier termination date.

 

(d)           If the certificate affects less than all of the shares registered in the name of the nominee, the Corporation may require the shares affected by the certificate to be registered separately on the books of the Corporation and be represented by a share certificate that bears a conspicuous legend stating that there is a nominee certificate in effect with respect to the shares represented by that share certificate.

 

8.             Acquisition by Corporation of its Own Shares. The Corporation may acquire its own shares and shares so acquired shall constitute authorized but unissued shares. Unless otherwise prohibited by the Articles of Incorporation, the Corporation may reissue such shares. If reissue is prohibited, the Articles of Incorporation shall be amended to reduce the number of authorized shares by the number of shares so acquired. Such required amendment may be adopted by the Board of Directors without shareholder action.

 

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ARTICLE VII

INDEMNIFICATION AND REIMBURSEMENT

 

1.             Indemnification for Expenses and Liabilities.

 

(a)           Any person who at any time serves or has served: (1) as a director, officer, employee, or agent of the Corporation, (2) at the request of the Corporation as a director, officer, partner, trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, or other enterprise, or (3) at the request of the Corporation as a trustee or administrator under an employee benefit plan, shall have a right to be indemnified by the Corporation to the fullest extent from time to time permitted by law against Liability and Expenses in any Proceeding (including, without limitation, a Proceeding brought by or on behalf of the Corporation itself) arising out of his or her status as such or activities in any of the foregoing capacities or results from him or her being called as a witness at a time when he or she was not a named defendant or respondent to any Proceeding.

 

(b)           The Board of Directors of the Corporation shall take all such action as may be necessary and appropriate to authorize the Corporation to pay the indemnification required by this provision, including, without limitation, to the extent needed, making a good faith evaluation of the manner in which the claimant for indemnity acted and of the reasonable amount of indemnity due him or her.

 

(c)           Any person who at any time serves or has served in any of the aforesaid capacities for or on behalf of the Corporation shall be deemed to be doing or to have done so in reliance upon, and as consideration for, the rights provided for herein. Any repeal or modification of these indemnification provisions shall not affect any rights or obligations existing at the time of such repeal or modification. The rights provided for herein shall inure to the benefit of the legal representatives of any such person and shall not be exclusive of any other rights to which such person may be entitled apart from this provision.

 

2.             Advance Payment of Expenses. The Corporation shall (upon receipt of an undertaking by or on behalf of the Director, officer, employee, or agent involved to repay the Expenses described herein unless it shall ultimately be determined that he or she is entitled to be indemnified by the Corporation against such Expenses) pay Expenses incurred by such Director, officer, employee, or agent in defending a Proceeding or appearing as a witness at a time when he or she has not been named as a defendant or a respondent with respect thereto in advance of the final disposition of such Proceeding.

 

3.             Insurance. The Corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a Director, officer, employee, or agent of the Corporation, or is or was serving at the request of the Corporation as a director, officer, partner, trustee, employee, or agent of another domestic or foreign corporation, partnership, joint venture, trust, or other enterprise or as a trustee or administrator under an employee benefit plan against any liability asserted against him or her and incurred by him or her in any such capacity, or arising out of his or her status as such, whether or not the Corporation would have the power to indemnify him or her against such liability.

 

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4.             Definitions. The following terms as used in this Article shall have the following meanings. “Proceeding” means any threatened, pending, or completed action, suit, or proceeding and any appeal therein (and any inquiry or investigation that could lead to such action, suit, or proceeding), whether civil, criminal, administrative, investigative, or arbitrative and whether formal or informal. “Expenses” means expenses of every kind, including counsel fees. “Liability” means the obligation to pay a judgment, settlement, penalty, fine (including an excise tax assessed with respect to an employee benefit plan), reasonable expenses incurred with respect to a Proceeding, and all reasonable expenses incurred in enforcing the indemnification rights provided herein. “Director,” “officer,” “employee,” and “agent” include the estate or personal representative of a Director, officer, employee, or agent. “Corporation” shall include any domestic or foreign predecessor of this Corporation in a merger or other transaction in which the predecessor’s existence ceased upon consummation of the transaction.

 

ARTICLE VIII

GENERAL PROVISIONS

 

1.             Distributions. The Board of Directors may from time to time declare, and the Corporation may pay, distributions and share dividends on its outstanding shares in the manner and upon the terms and conditions provided by law and by its Articles of Incorporation.

 

2.             Seal. The corporate seal shall have the name of the Corporation inscribed thereon and shall be in such form as may be approved from time to time by the Board of Directors. Such seal may be an impression or stamp and may be used by the officers of the Corporation by causing it, or a facsimile thereof, to be impressed or affixed or in any other manner reproduced. In addition to any form of seal adopted by the Board of Directors, the officers of the Corporation may use as the corporate seal a seal in the form of a circle containing the name of the Corporation and the state of its incorporation (or an abbreviation thereof) on the circumference and the word “Seal” in the center.

 

3.             Fiscal Year. The Corporation’s fiscal year shall end on the Saturday nearest September 30, resulting in fiscal years of either 52 or 53 weeks, or such other date as may be fixed from time to time by the Board of Directors.

 

4.             Effective Date of Notice. Except as provided in Paragraph 5 of Article II, written notice shall be effective at the earliest of the following: (1) when received; (2) five days after its deposit in the United States mail, as evidenced by the postmark, if mailed with postage thereon prepaid and correctly addressed; (3) upon confirmation of receipt by answerback code, if sent by facsimile transmission; (4) upon transmission, if sent by telegraph, teletype, or electronic delivery; or (5) on the date shown on the return receipt, if sent by registered or certified mail, return receipt requested, and the receipt is signed by or on behalf of the addressee.

 

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5.             Corporate Records. Any records maintained by the Corporation in the regular course of its business, including its stock ledger, books of account, and minute books, may be kept on or be in the form of punch cards, magnetic tape, photographs, microphotographs, or any other information storage device; provided that the records so kept can be converted into clearly legible form within a reasonable time. The Corporation shall so convert any records so kept upon the request of any person entitled to inspect the same. The Corporation shall maintain at its principal office the following records: (1) Articles of Incorporation and all amendments thereto; (2) Bylaws and all amendments thereto; (3) resolutions by the Board of Directors creating classes or series of shares and affixing rights, preferences, or limitations to shares; (4) minutes of all shareholder meetings or action taken without a meeting for the past three years; (5) all written communications to shareholders for the past three years, including financial statements; and (6) the Corporation’s most recent annual report filed with the South Carolina Secretary of State.

 

6.             Bylaw Amendments.

 

(a)           Except as otherwise provided herein, these Bylaws may be amended or repealed and new Bylaws may be adopted by the affirmative vote of a majority of the Directors then holding office at any regular or special meeting of the Board of Directors at which a quorum is present or by the shareholders at any regular or special meeting of shareholders at which a quorum is present if the votes cast favoring such action exceed the votes cast opposing such action.

 

(b)           The Board of Directors shall have no power to adopt a Bylaw: (1) changing the statutory requirement for a quorum of Directors or action by Directors or changing the statutory requirement for a quorum of shareholders or action by shareholders; (2) providing for the management of the Corporation otherwise than by the Board of Directors or the committees thereof; or (3) increasing or decreasing the fixed number for the size of the Board of Directors or range of Directors, or changing from a fixed number to a range, or vice versa.

 

(c)           No Bylaw adopted, amended, or repealed by the shareholders may be readopted, amended, or repealed by the Board of Directors, except to the extent that the Articles of Incorporation or a Bylaw adopted by the shareholders authorizes the Board of Directors to adopt, amend, or repeal that particular Bylaw or the Bylaws generally.

 

7.             Amendments to Articles of Incorporation. To the extent permitted by law, the Board of Directors may amend the Articles of Incorporation without shareholder approval to make any change expressly permitted by the South Carolina Code of Laws to be made without shareholder action. All other amendments to the Articles of Incorporation must be approved by the appropriate voting group or groups as required by law.

 

15




Exhibit 3.15

 

WILLIAM UNDERWOOD COMPANY

 

AMENDED AND RESTATED DECLARATION OF TRUST

 

DATED DECEMBER 8, 2006

 



 

TABLE OF CONTENTS

 

 

Page

ARTICLE I Business Name of Trust

1

ARTICLE II Purpose of Trust

1

ARTICLE III General Powers of Trustees

2

ARTICLE IV Specific Powers of Trustees

2

ARTICLE V Exemption from Personal Liability

4

ARTICLE VI Organization and Meetings of Trustees

6

ARTICLE VII Shareholders’ Rights and Limitations Thereof

7

ARTICLE VIII Declaration of Dividends

8

ARTICLE IX Number of Shares

9

ARTICLE X Certification of Shares

9

ARTICLE XI Fiscal Year

10

ARTICLE XII Meetings of Shareholders

11

ARTICLE XIII Notice of Shareholders’ Meetings

11

ARTICLE XIV Change or Vacancy in Office of All Trustees

11

ARTICLE XV Provision for Exemption of Trustees for Errors of Judgment

12

ARTICLE XVI Duration of Trust

12

ARTICLE XVII Filing of Declaration

12

ARTICLE XVIII Amendments of Trust

13

ARTICLE XIX Registered Office and Agent

13

ARTICLE XX Merger or Consolidation

14

 

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AMENDED AND RESTATED AGREEMENT AND DECLARATION OF TRUST, dated December 8, 2006, by and between all of the Trustees of the Trust, all having a usual place of business at Four Gatehall Drive, Suite 110, Parsippany, New Jersey 07054, and filed in the office of the Secretary of the Commonwealth of Massachusetts and in the office of the Clerk of the City of Boston, has been restated in its entirety by the Trustees upon the vote of the sole shareholder of the Trust pursuant to Article XVIII of the Declaration of Trust, as amended, as follows:

 

WHEREAS, the Trust was organized as a Massachusetts voluntary association or business trust under the name “William Underwood Company” with the filing of its Declaration of Trust, dated January 1, 1915, with the Old Colony Trust Company of Boston;

 

WHEREAS, the Declaration of Trust was amended by Supplementary Declarations of Trust, dated April 24, 1963, June 9, 1966, June 12, 1975, April 26, 1978 and May 11, 1982, each filed with the Secretary of the Commonwealth of Massachusetts; and

 

WHEREAS, the Trustees desire to amend and restate the Declaration of Trust, as amended, in its entirety;

 

NOW, THEREFORE, the Declaration of Trust, as amended, is hereby amended and restated in its entirety, effective as of the date hereof, as follows:

 

ARTICLE I

 

BUSINESS NAME OF TRUST.

 

The name of the trust created by this Declaration of Trust is William Underwood Company (hereinafter called the “Trust”) and so far as may be practicable the Trustees shall conduct the Trust’s activities, execute all documents and be sued under that name, which name (and the word “Trust” wherever used in this Declaration of Trust, except where the context otherwise requires) shall refer to the Trustees in their capacity as Trustees, and not individually or personally, and shall not refer to the officers, agents, employees, or shareholders of the Trust or of such Trustees.

 

ARTICLE II

 

PURPOSE OF TRUST.

 

The Trustees may use and employ the trust property and assets:

 

1.                                      In collecting, raising, preparing, manufacturing, packing, carrying, buying, selling and dealing in food products, and in any other business that may be desirable or advantageous in connection therewith, including the manufacture of cans, packages and containers of all sorts, the catching of fish and shell-fish, the raising of animals and carrying on agriculture.

 

2.                                      In establishing and carrying on manufacturing establishments and stores to carry out any of the foregoing programs, and in acquiring, managing and operating fish weirs, fish traps, boats and vessels of any and all kinds for any purpose.

 



 

3.                                      In the purchase, sale, renting or leasing of real estate or any interest therein, and in the construction, management, maintenance and leasing of buildings of any kind.

 

4.                                      In carrying on a general manufacturing business, and in any and all things desirable or advantageous in connection therewith.

 

5.                                      In carrying on the general business of merchants, and manufacturing, buying, selling and dealing in commodities and merchandise of any and all kinds, and in any and all things desirable or advantageous in connection therewith.

 

6.                                      In acquiring, buying, selling and dealing in patents, processes, trade-marks, trade-names and other intellectual property desirable or advantageous in connection with any of the foregoing purposes.

 

7.                                      In acquiring, buying, selling and dealing in stocks, shares and securities of corporations or other organizations and interests in partnerships or associations or other forms of business, which may be desirable or advantageous in connection with any of the foregoing purposes.

 

8.                                      In engaging in any other lawful act or activity for which voluntary associations or business trusts may now or hereafter be organized under Chapter 182 of the General Laws of Massachusetts, as amended, and the Trustees shall possess and exercise all of the powers and privileges granted by such laws and any other laws of the Commonwealth of Massachusetts.

 

ARTICLE III

 

GENERAL POWERS OF TRUSTEES.

 

The Trustees shall hold the legal title to all property at any time belonging to this Trust or acquired by them as trustees hereunder, and, subject to the provisions of this Declaration of Trust, shall have the absolute control, management and disposition thereof and of all the business of the Trust with all the rights and powers of absolute owners of said property and business, subject, however, to the rights of the beneficiaries hereunder.  The naming of any specific duties and powers hereinafter contained shall not be construed as limiting the general powers hereinbefore or hereinafter conferred upon the trustees.

 

ARTICLE IV

 

SPECIFIC POWERS OF TRUSTEES.

 

To enable the Trustees fully to execute this Trust, they are hereby empowered, without limitation, however, of the general powers hereinbefore granted.—

 

1.                                      To carry on any business above described, according to their discretion, and to employ therein such officers, agents or agencies as they may deem expedient.

 

2.                                      To pay all taxes, assessments and expenses of any business carried on or acquired by them or in connection with any of the trust property.

 

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3.                                      To buy any property, real or personal, including shares or obligations based hereunder or in any corporation or association, and any rights, franchises, privileges or securities which the conduct of any business above described may in their judgment require, or which may in their judgment tend to promote its successful promotion or the interest of the shareholders, and to hold, administer and use the trust property or any part thereof at their discretion.

 

4.                                      To borrow money for any business above described or for the purchase of any property and to give notes, make contracts of guaranty or suretyship, or enter into other obligations therefor, and to pledge or mortgage the property of the Trust or any part thereof (except as hereinafter provided) to secure such notes or obligations or any contract entered into in the course of the execution of this Trust.

 

5.                                      To invest and loan any moneys which may come into their hands, and which, in their judgment, are not needed in the immediate conduct of any business in which they are engaged, in any manner which may seem to them prudent and expedient.

 

6.                                      To exercise exclusive control and management of the trust property; to vote in person or by proxy upon all shares of stock belonging to the Trust and to collect and receipt for any dividends thereon, provided, however, that shares issued hereunder and purchased by the Trustees for the account of the Trust shall not, so long as they belong to the Trust, either receive dividends or be voted at any meeting of shareholders; to contract with any corporation or association, or firm or individual, whether or not controlled by them, to begin and defend legal proceedings, employ counsel, and compromise, settle or arbitrate claims; and generally to do all acts and things necessary and proper for the complete execution of the Trust and the protection of the interests of shareholders therein, including the power to form a corporation or corporations, or association or associations, under the laws of Massachusetts, or any other state or country, for the purpose of transferring the trust property or any part thereof thereto or for any purposes which the Trustees may deem to be of benefit to the shareholders; to convey the trust property, or any part thereof, to such corporation or corporations, or association or associations, and to lease, pledge, mortgage or sell the trust property, or any portion thereof, free from any Trust, for such consideration as the Trustees may deem best.

 

7.                                      To make any and all sales or transfers of any interest in the property of the Trust, so that no purchaser shall be bound to see to the application of the purchase money or other consideration.

 

8.                                      As far as strangers to the Trust are concerned, to bind the Trustees, shareholders and all persons interested in the Trust by a resolution of the Trustees, certified as such by their Treasurer or Secretary, to the extent that such resolution so certified, and authorizing a particular act to be done, shall be conclusive evidence that such act is within the powers of the Trustees and duly authorized by them.

 

9.                                      All of the foregoing powers and any hereinafter stated may be exercised in any part of the United States, be dependencies or territories, or in any foreign country.

 

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ARTICLE V

 

EXEMPTION FROM PERSONAL LIABILITY.

 

1.                                      No shareholder, nor any officer, director or shareholder thereof, shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any person or entity in connection with trust property or the affairs of the Trust; and no Trustee, officer, employee or agent of the Trust shall be subject to any personal liability whatsoever, in tort, contract or otherwise, to any other person or entity in connection with trust property or the affairs, actions or inactions of the Trust, save only that arising from his bad faith, willful misconduct, gross negligence or reckless disregard of his duties or for his failure to act in good faith in the reasonable belief that his action was in the best interest of the Trust; and all such other Persons shall look solely to the trust property for satisfaction of claims of any nature arising in connection with the affairs of the Trust.  If any shareholder, Trustee, officer, employee or agent, as such, of the Trust is made a party to any suit or proceedings to enforce any such liability, he shall not on account thereof be held to any personal liability.

 

2.                                      No Trustee, officer, employee or agent of the Trust shall be liable to the Trust or to any shareholder, Trustee, officer, employee or agent of the Trust for any action or failure to act (including without limitation the failure to compel in any way any former or acting Trustee to redress any breach of trust) except for his own bad faith, willful misconduct, gross negligence or reckless disregard of his duties or for his failure to act in good faith in the reasonable belief that his action was in the best interests of the Trust.

 

3.                                      The Trust shall indemnify and hold each shareholder, and each officer, director and shareholder thereof, harmless from and against all claims and liabilities, whether they proceed to judgment or are settled or otherwise brought to a conclusion, to which such shareholder may become subject by reason of his being or having been a shareholder, and shall reimburse such shareholder for all legal and other expenses reasonably incurred by him in connection with any such claim or liability; provided, however, that the Trust shall have no liability to reimburse shareholders for taxes assessed against them by reason of their ownership of shares (unless such tax is of a character which in the Commonwealth of Massachusetts would be assessed against the trust property or the Trustees, but is assessed in the jurisdiction assessing such tax against all shareholders ratably rather than against the trust property or the Trustees).  Subject to the proviso thereto and except for expenses not reasonably incurred, the foregoing sentence is intended to provide for indemnification of each shareholder to the fullest extent permitted by law.  The rights accruing to a shareholder under this paragraph 3 shall not exclude any other right to which such shareholder may be lawfully entitled, nor shall anything herein contained restrict the right of the Trust to reimburse or indemnify a shareholder in any appropriate situation even though not specifically provided herein.

 

4.                                      The Trust shall indemnify each of its Trustees, officers, employees and agents (including any person who serves at its request as director, officer or trustee of another organization in which it has any interest as a shareholder, creditor or otherwise), against all liabilities and expenses, including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and counsel fees, reasonably incurred by him in connection with the defense or disposition of any action, suit or other proceeding by the Trust or any other person or

 

4



 

entity, whether civil or criminal, in which he may be involved or with which he may be threatened, while in office or thereafter, by reason of his being or having been such a Trustee, officer, employee or agent; provided, however, that no indemnification shall be made with respect to any matter as to which he shall have been adjudicated to have acted in bad faith or with willful misconduct or reckless disregard of his duties or gross negligence or not to have acted in good faith in the reasonable belief that his action was in the best interests of the Trust and further provided, that as to any matter disposed of by a compromise payment by such Trustee, officer, employee or agent, pursuant to a consent decree or otherwise, no indemnification either for said payment or for any other expense shall be provided unless such a compromise shall be approved as in the best interests of the Trust by a majority of the disinterested Trustees or unless the Trust shall have received a written opinion from independent legal counsel to the effect that such Trustee, officer, employee or agent appears to have acted in good faith in the reasonable belief that his action was in the best interests of the Trust.  Subject to the proviso clauses, and except for expenses not reasonably incurred, the foregoing sentence is intended to provide for indemnification of Trustees, officers, employees and agents to the fullest extent provided by law.  The rights accruing to any Trustee, officer, employee or agent under these provisions shall not exclude any other right to which he may be lawfully entitled; provided, however, that no Trustee, officer, employee or agent may satisfy any right of indemnity or reimbursement granted herein or to which he may be otherwise entitled except out of the trust property, and no shareholder shall be personally liable to any person or entity with respect to any claim for indemnity or reimbursement or otherwise.  The Trustees may make advance payments in connection with indemnification under this paragraph 4, provided that the indemnified Trustee, officer, employee or agent shall have given a written undertaking to reimburse the Trust in the event it is subsequently determined that he is not entitled to such indemnification.

 

5.                                      Any action taken in good faith by or conduct engaged in good faith on the part of a Trustee, officer, employee or agent of the Trust in conformity with or in reliance upon any of the provisions of this Declaration of Trust shall not, for the purposes of this Declaration of Trust, constitute bad faith, willful misconduct, gross negligence or reckless disregard of his duties or failure to act in good faith or in the reasonable belief that his action was in the best interests of the Trust.

 

6.                                      No Trustee shall, as such, be obligated to give any bond or surety or other security for the performance of any of his duties.

 

7.                                      Every note, debenture, bond, obligation, contract, instrument, certificate, share or undertaking and every other act or thing whatsoever executed in connection with the Trust shall be conclusively presumed to have been executed or done by a Trustee or Trustees or an officer, employee or agent of the Trust only in his or their capacity as Trustee or Trustees under this Declaration of Trust or in the capacity of officer, employee or agent of the Trust.  The Trustees shall, to the extent practicable as determined by the Trustees, cause every note, debenture, bond, obligation, contract, instrument, certificate, share or undertaking made or issued by or on behalf of the Trust to refer to this Declaration of Trust and contain a recital to the effect that the obligations thereunder are not binding on, nor shall resort be had to the private property of, any of the Trustees, their employees or the shareholders of the Trust individually, but only upon the Trustees as trustees and upon the trust property, and may contain any further recital which they may deem appropriate, but the omission of such recital or further recital shall not be construed to

 

5


 

evidence an intention to impose personal liability on any of the Trustees, shareholders, officers, employees or agents of the Trust.

 

8.                                      Each Trustee and each officer of the Trust shall, in the performance of his duties, be fully and completely justified and protected with regard to any act or any failure to act resulting from reliance in good faith upon the books of account or other records of the Trust, upon an opinion of counsel or upon reports made to the Trust by any of its officers or employees or by accountants, appraisers or other experts or consultants selected with reasonable care by the Trustees or officers of the Trust, regardless of whether such counsel or expert may also be a Trustee.

 

ARTICLE VI

 

ORGANIZATION AND MEETINGS OF TRUSTEES.

 

1.                                      The number of Trustees shall be not less than three nor more than fifteen persons.  The exact number of Trustees from time to time shall be fixed in the manner provided by the Trustees’ Bylaws.  Whenever a vacancy in the number of Trustees shall occur, until such vacancy is filled, the Trustees or Trustee continuing in office, regardless of their number, shall have all the powers granted to the Trustees and shall discharge all the duties imposed upon the Trustees by this Declaration of Trust.

 

2.                                      Any Trustee may resign by written notice delivered or mailed to the Secretary or President of the Trustees, and such resignation shall take effect immediately, or if specified therein, at a later date.

 

3.                                      Any Trustee may be removed, as hereinafter provided in Article VII.

 

4.                                      A majority of the Trustees shall constitute a quorum, and any action taken at a meeting at which a quorum is present, which meeting has been duly called in such manner as may have been previously prescribed by the Trustees, shall be operative and effective as the act of all the Trustees. The consent in writing of any Trustee to any vote or action shall have the same effect as if he were personally present at a meeting at which such act was authorized or such vote passed.  In addition, the Trustees or any committee thereof may act on all matters without meeting by resolution signed by all the Trustees or committee members entitled to vote at a meeting and such resolution when so signed shall have the same force and effect as a vote duly passed at a meeting of the Trustees or the applicable committee.

 

5.                                      The Trustees may adopt and use a common seal.

 

6.                                      The Trustees annually shall elect from among their number a President, and from among their number, or otherwise, a Treasurer, Secretary, and in their discretion, Vice Presidents, Assistant Treasurers and Assistant Secretaries, and such other officers or agents as they may deem advisable, and may act in any manner by and through any such officers and agents.  One or more offices may be held by the same person.

 

7.                                      Any officer or agent elected or appointed by the Trustees may be removed by vote of the majority of the Trustees or by a resolution signed by a majority thereof.

 

6



 

8.                                      The Trustees may appoint from their own number an Executive Committee and such other Committees as they may determine, to whom they may delegate such of their powers as they think proper.

 

9.                                      The Trustees may fill any vacancies which occur for any reason in any office, including that of Trustee.  If any vacancy occurs in the office of Trustee, the Trustees shall forthwith fill the same.  A certificate of the Treasurer or Secretary of the removal, resignation or appointment of any officer or Trustee shall be conclusive evidence thereof.

 

10.                               Instruments transferring or conveying real or personal property of the Trust may be executed in the name of William Underwood Company by such officers or agents as the Trustees may designate or appoint by their Bylaws, or by specific vote, and such instruments shall have the same effect as if signed by all the Trustees.  Each of the Trustees hereby grants to such persons as may from time to time be the President or Vice President and Treasurer or Assistant Treasurer, power of attorney, for them and each of them, and in their name to sign, seal and deliver any and all such instruments relating to the business of the Trust or the trust property, or the transfer and conveyance thereof, as have been duly authorized by a majority of the Trustees.

 

11.                               The Trustees may adopt and from time to time amend or repeal Bylaws not inconsistent with this Declaration of Trust for the conduct of their business, and any such Bylaws may define the duties of their officers, agents, servants or representatives.

 

12.                               A certificate of the Treasurer or Secretary of the Trustees as to any bylaw, vote, resolution, act or appointment of the Trustees shall, as far as strangers to the Trust are concerned, be conclusive evidence of the facts stated in such certificate.

 

13.                               The Trustees shall not be partners with each other or with the shareholders, nor shall they have the rights or liabilities of such partners.

 

ARTICLE VII

 

SHAREHOLDERS’ RIGHTS AND LIMITATIONS THEREOF.

 

1.                                      The rights of the shareholders hereunder shall be solely those of beneficiaries in the property held in trust hereunder by the Trustees, and they shall have only the rights conferred in accordance with the terms hereof and by the certificates of beneficial interest issued hereunder. The shareholders shall not be partners with each other or with the Trustees and shall have none of the rights or liabilities of partners and shall have no right to call for any partition of property rights or interest, nor shall they have any of the rights of partners as to the control or the administration of the trust property by the Trustees. In order that the administration of the trust property may be conducted by Trustees reasonably satisfactory to the beneficiaries, the holders of a majority in interest of the shares issued hereunder and entitled to vote may, at a meeting duly called and held so hereinafter provided, remove any Trustee, with or without cause.

 

2.                                      Shares shall be personal property giving only the rights in the certificates thereof and in this instrument specifically set forth.  The death of a shareholder during the continuance of this Trust shall not terminate the Trust or give his or her legal representatives a right to an

 

7



 

account or to take any action in the courts or otherwise against other shareholders or the Trustees, but shall simply entitle the legal representatives of the deceased to demand and receive a new certificate of shares in place of the certificate held by the deceased, upon the acceptance of which such legal representatives shall succeed to all the rights and be subject to all the restrictions of the deceased under this Trust.

 

3.                                      Any or all of the foregoing restrictions may be waived by the Trustees, and the certificate of the Treasurer or Secretary of such waiver, or of the compliance of a shareholder with the above requirements, shall be conclusive evidence thereof.

 

4.                                      The foregoing provisions as to the transfer of shares shall not apply to shares transferred by operation of law to the heirs, legatees, executors or administrators of any shareholder, but such heirs, legatees, executors or administrators shall hold such shares as may be issued to them subject to the terms and restrictions above set forth.

 

ARTICLE VIII

 

DECLARATION OF DIVIDENDS.

 

Subject to the rights of the holders of any preferred shares of the Trust, if any, the Trustees may from time to time declare and pay to the holders of shares of beneficial interest, in proportion to their respective ownership of shares of beneficial interest, out of the earnings, profits, surplus, capital or assets in the hands of the Trustees, such dividends or other distributions as they see fit.  The declaration and payment of such dividends or other distributions and the determination of earnings, profits, surplus and capital available for dividends and other purposes shall lie wholly in the discretion of the Trustees and no shareholder shall be paid any dividend or receive any distribution, except as determined by the Trustees in the exercise of said discretion.  Any or all such dividends or other distributions may be made, in whole or in part, in cash, property or other assets of the Trust, or in senior or subordinated secured or unsecured evidences of indebtedness of the Trust, as the Trustees may in their sole discretion from time to time determine.  In computing and determining the net profits of the Trust, all taxes, whether levied under laws as now existing or hereafter enacted, shall be treated as expenses of the Trust and be paid by the Trustees, and shall include all taxes, national, state or municipal, upon either the property or the income of the Trust and also all taxes, national, state or municipal, upon the interest of a shareholder in the Trust and the normal tax under the United States income tax law upon the income derived therefrom.  The Trustees, except as otherwise required by this Article VIII, may always retain from the net profits such amount as they may deem necessary or advisable to pay present or future debts or expenses of the Trust, to meet present or future obligations of the Trust, to establish reserves, or as they may deem desirable to use in the conduct of its affairs or to retain for future requirements or extensions of the business.

 

8



 

ARTICLE IX

 

NUMBER OF SHARES.

 

The Trustees shall have the authority to issue under this Declaration of Trust, 1,000,000 shares of beneficial interest.  The shares shall be without par value.  All shares duly issued hereunder shall be deemed fully-paid, and no assessment shall ever be made upon shareholders.

 

The Trustees may from time to time, with the consent of the holders of a majority in interest of the shares entitled to vote hereunder, evidenced by the consent in writing of the holders of such shares in person or by their attempts thereunto duly authorized, or by the vote of the holders of such shares in person or by proxy at a meeting duly called, the call for which contains specific notice of the proposition to be submitted, issue and dispose of additional shares or of preferred shares, for such purpose, on such terms and in such manner as the shareholders may determine or approve.

 

ARTICLE X

 

CERTIFICATION OF SHARES.

 

1.                                      Shares hereunder shall be evidenced by a certificate or certificates substantially in the form following:—

 

WILLIAM UNDERWOOD COMPANY.

 

No.                       

                           Shares.

 

THIS CERTIFIES that                                                   is the holder of                                                shares of the beneficial interest in the property held and administered in trust by Trustees acting under the name of “William Underwood Company,” and in accordance with and subject to an Amended and Restated Declaration of Trust, dated December 8, 2006, as amended, a copy of which is on file with the Secretary of the Commonwealth of Massachusetts, and which is hereby referred to and made a part of this certificate.  Except only as herein and as in said Declaration of Trust provided, this certificate confers no rights, powers, privileges or interest.  The shares evidenced hereby are transferable only subject to the restrictions set forth on the reverse side of this certificate, to which the holder hereof by the acceptance of this certificate agrees to conform.

 

IN WITNESS WHEREOF, the Trustees under said Declaration of Trust have caused their common seal to be hereto affixed and this certificate to be executed in their name and behalf by their President and Secretary this            day of           , 20  .

 

9



 

 

WILLIAM UNDERWOOD COMPANY,

 

By

 

 

 

President.

 

 

 

 

 

 

 

 

Secretary.

 

[REVERSE OF CERTIFICATE.]

 

Here will be printed the restrictions stated in Article VII.

 

I,                                                               , Secretary/Treasurer of William Underwood Company, certify that the holder of this certificate has conformed to the foregoing provisions as to                         of the shares represented thereby.

 

FOR VALUE RECEIVED,                        hereby sells, assigns, transfers and delivers to                  the within named shares of William Underwood Company, and requests that said transfer be recorded on the books of said Company.

 

WITNESS my hand this               day of            , 20  .

 

 

 

 

2.                                      The Trustees shall keep books of record of the certificates of share originally issued hereunder and of all transfers thereof.  Upon any transfer thereof, a new certificate or new certificates shall be issued, being first recorded and signed by the persons appointed by the Trustees, and only shareholders whose certificates are so recorded shall be entitled to vote, or to collect dividends, or to otherwise exercise and enjoy the rights of shareholders.

 

3.                                      Each shareholder shall in writing notify the Treasurer of the Trustees of his post-office address,—which may be changed by a like notice,—and in the absence of any such notice from a shareholder his post-office address shall be taken to be Boston.  In case of the loss, mutilation or destruction of a certificate, the Trustees may issue a new one upon such terms as they see fit.

 

ARTICLE XI

 

FISCAL YEAR.

 

The fiscal year of the Trustees shall end on the Saturday nearest December 31 of each year, or as otherwise hereafter fixed from time to time by resolution of the Trustees.

 

10



 

ARTICLE XII

 

MEETINGS OF SHAREHOLDERS.

 

1.                                      The Annual Meeting of Shareholders shall be held each year at such time and place as the Trustees shall determine.

 

2.                                      Special meetings of the shareholders shall be called by the Secretary or such person as the Trustees may designate at any time, upon the request of the President, the Treasurer, a majority of the Trustees, or the holders of twenty-five per cent in interest of the shares issued and outstanding hereunder.

 

3.                                      At all meetings of the shareholders, each holder of shares shall be entitled to one vote for each share held by him (except shares held for the account of the Trust).

 

4.                                      Any shareholder may vote by proxy.  A majority in interest of the shares issued and outstanding hereunder and entitled to vote shall constitute a quorum at any shareholders’ meeting, except that a lesser number may adjourn.

 

5.                                      Unless otherwise provided by the Trustees the Secretary of the Trustees shall be Secretary of the shareholders.  The certificate of the Secretary of the Trustees, or of any person appointed Secretary pro tempore by vote of a majority in interest of the holders of shares issued hereunder and entitled to vote, shall be conclusive evidence of any vote or action of the shareholders stated in such certificate.

 

ARTICLE XIII

 

NOTICE OF SHAREHOLDERS’ MEETINGS.

 

Notice of any meeting of the shareholder shall be given by the Treasurer or Secretary by mail to each shareholder at his registered address at least five days before said meeting, and such notice shall contain a statement of the business to be transacted at such meeting.

 

ARTICLE XIV

 

CHANGE OR VACANCY IN OFFICE OF ALL TRUSTEES.

 

1.                                      The trust estate, upon the acceptance of the Trust by any new Trustee or Trustees, shall vest in them or him and the continuing Trustees without any further act or conveyance. Any outgoing Trustee shall, however, execute any conveyance or instrument necessary or advisable to divest himself of any interest in the trust estate, and the Trustees shall execute any deeds or instruments necessary or advisable to fully vest the trust estate in any new Trustee or Trustees or in the continuing Trustees.

 

2.                                      The Trustees in office at any time hereunder shall have all the powers and be subject to all the restrictions herein stated.

 

11



 

3.                                      In case for any cause there is a vacancy in the office of all the Trustees, a majority in interest of the shares issued hereunder and entitled to vote may, by an instrument in writing signed by them in person or by proxy, fill all such vacancies.  Such instrument when filed with the Secretary of the Commonwealth of Massachusetts shall be conclusive evidence of the due appointment of such Trustees.

 

ARTICLE XV

 

PROVISION FOR EXEMPTION OF TRUSTEES FOR ERRORS OF JUDGMENT.

 

The Trustees shall not be liable for errors of judgment either in holding property originally conveyed to them or in acquiring and afterwards holding additional property, or for any loss resulting from any investment, or from any act or omission to act performed or omitted by them in the execution of this Trust in good faith. They shall not be liable for the acts or omissions of any office, agent or servant appointed by or acting for them, nor be obliged to give any bond to secure the due discharge of their trust, nor shall any Trustee be liable for any act of default of any other Trustee.

 

ARTICLE XVI

 

DURATION OF TRUST.

 

This Trust shall continue in existence until terminated by the shareholders in the manner provided in Article XVIII of the Declaration of Trust. At the termination of the Trust, the Trustees shall wind up the affairs and business of the Trust, and after paying and satisfying all obligations and liabilities thereof, shall divide the property then in their hands or its net proceeds ratably among the shareholders.

 

ARTICLE XVII

 

FILING OF DECLARATION.

 

This Declaration of Trust is executed by the Trustees and is delivered in the Commonwealth of Massachusetts and with reference to the laws thereof, and the rights of all parties and the construction and effect of every provision hereof shall be subject to and construed according to the laws of said Commonwealth.  As soon as reasonably practicable after its execution, this Declaration of Trust and any amendment hereto shall be filed with the Secretary of the Commonwealth of Massachusetts and shall be recorded with the Clerk of the City of Boston, Massachusetts, and in all other offices in which such recording may be required from time to time by the laws of the Commonwealth of Massachusetts under the provisions of Chapter 182 of the Massachusetts General Laws, and in the office of the county recorder of any county where land and/or improvements thereon owned by the Trust are located.  The Trustees shall also cause to be filed with the Secretary of the Commonwealth not less than annually or as otherwise required by Section 12 of Chapter 182 of the Massachusetts General Laws appropriate instruments disclosing changes in the persons who are Trustees of the Trust or such other information as may be required to be filed in accordance with such Section 12, but any such filing shall not be deemed a condition to the effectiveness of, and the failure to so file shall not

 

12



 

be deemed to invalidate, any election or appointment of any person as a Trustee or the resignation or removal of a Trustee.

 

ARTICLE XVIII

 

AMENDMENTS OF TRUST.

 

This Declaration of Trust shall be altered or amended or this Trust terminated by the Trustees upon the vote of the majority in interest of the shares entitled to vote hereunder and voted by the holders thereof in person or by proxy at any meeting of the shareholders duly notified pursuant to Article XIII by a call for such meeting in which it is specifically stated that such termination or such alteration or amendment is to be acted upon.  In case of a vote in favor of such termination or of such alteration or amendment, as the case may be, the Secretary of such meeting shall certify such vote and any alterations or amendments so adopted in writing to the said Trustees, and the Trustees shall, if the vote is in favor of termination, proceed to wind up this Trust, and in case such vote is in favor of alterations and amendments, shall embody the same in a an amendment to this Declaration of Trust which they shall sign and deliver to the Secretary of the Commonwealth of Massachusetts, and which, being so entrusted and delivered, shall be conclusive evidence of the due adoption by the shareholders of the alterations and amendments therein contained and thereafter shall have the same operation and effect as if originally embodied in this instrument.

 

Each amendment filed to this Declaration of Trust shall be accompanied by a certificate signed and acknowledged by a Trustee, Treasurer or Secretary stating that such action was duly taken in a manner provided herein; and unless such amendment or such certificate filed with the Secretary of the Commonwealth of Massachusetts sets forth some earlier or later time for the effectiveness of such amendment, such amendment shall be effective upon its filing with the Secretary of said Commonwealth.  A restated Declaration of Trust, containing the original Declaration of Trust and all amendments theretofore made, may be executed any time or from time to time by a majority of the Trustees and shall, upon filing with the Secretary of the Commonwealth of Massachusetts, be conclusive- evidence of all amendments contained therein and may thereafter be referred to in lieu of the original Declaration and the various amendments thereto.

 

ARTICLE XIX

 

REGISTERED OFFICE AND AGENT.

 

The address of the Trust’s registered office in the State of Massachusetts is 18 Tremont Street, Suite 146, Boston, MA 02108.  The name of the Trust’s registered agent at such address is National Corporate Research, Ltd.

 

13



 

ARTICLE XX

 

MERGER OR CONSOLIDATION.

 

Notwithstanding any contrary provisions of this Declaration, the Trustees may merge or consolidate the Trust with or into one or more corporations, if and to the extent permitted by, and with the same legal consequences as provided in, the laws of the jurisdictions of such other corporations governing mergers and consolidations.  Upon the effectiveness of any such merger or consolidation, the assets and liabilities of each party to the transaction other than the surviving party in the merger or the resulting entity in the consolidation shall be transferred to, vested in and devolved upon such surviving party in the merger or resulting entity in the consolidation without further act or deed pursuant to the laws governing mergers and consolidations of the jurisdictions of such other corporations.  Any such merger or consolidation shall be undertaken pursuant to Articles of Merger or Consolidation, as the case may be, between the Trust and such other corporation or corporations which shall have been approved by at least two-thirds of the Trustees and shall have been consented to at a meeting of shareholders called for that purpose by the holders of at least two-thirds of the shares outstanding and entitled to vote at such meeting.

 

The Articles of Merger or Consolidation shall set forth the terms and conditions of the merger or consolidation and other information which may be necessary or desirable in the judgment of the Trustees. Such Articles of Merger or Consolidation may provide that shareholders shall receive cash or other property in exchange for their shares of beneficial interest in such amount, per share, as shall be set forth in such Articles of Merger or Consolidation.

 

IN WITNESS WHEREOF, each of the undersigned, being a Trustee of William Underwood Company, has executed this Amended and Restated Declaration of Trust as of December 8, 2006.

 

 

DAVID L. WENNER

 

 

 

 

 

/s/ David L. Wenner

 

 

 

 

 

ROBERT C. CANTWELL

SEAL

 

 

 

 

/s/ Robert C. Cantwell

 

 

 

 

 

SCOTT E. LERNER

 

 

 

 

 

/s/ Scott E. Lerner

 

 

14




Exhibit 3.16

 

BYLAWS

 

OF

 

WILLIAM UNDERWOOD COMPANY

 

(a voluntary association or trust operating under

Amended and Restated Declaration of Trust

dated December 8, 2006

referred to here as the “Association”)

 

ARTICLE I

 

OFFICERS.

 

1.                                      The officers of the Association shall be a Chairman of the Trustees, a President, a Treasurer, a Secretary, and such other officers, including one or more Vice Presidents, one or more Assistant Treasurers, and one or more Assistant Secretaries as the Trustees may from time to time authorize and appoint. All of said officers shall have such powers and duties as are hereinafter set forth or as may be prescribed by the Declaration of Trust or by Law.

 

Chairman

 

2.                                      The Chairman, if one is chosen, shall when present preside at all meetings of the Trustees and at all meetings of the Shareholders. He shall have such other powers and perform such other duties as may be prescribed by the Trustees.

 

President

 

3.                                      The President shall preside at meetings of the Trustees and of the Shareholders when the Chairman is not present or if one has not been chosen.  He shall be the chief executive officer of the Association and subject always to the general supervision and control of the Trustees and except as they may otherwise order shall have the general supervision of its other officers and personnel and of its property and the active management of its business affairs other than financial, with authority to do all acts necessary or proper in the conduct of such business,  including the power and authority to direct its operations, to employ and discharge such agents and employees other than officers of the Association as in his judgment the interests of the Association may require, and to fix their compensation, to purchase upon such terms as he shall deem desirable machinery, supplies, materials, or other property necessary or desirable for the prosecution of the business of the Association, to sell or otherwise dispose of in the usual course of business the merchandise or products of the Association upon such terms and in such manner as he may deem desirable and to execute in the name and on behalf of the Association bonds, contracts, agreements and other documents relating to the Association or its business. He shall have custody of the bond of the Treasurer if one is required. He shall have such other powers and perform other duties as may be prescribed from time to time by the Trustees or elsewhere in these Bylaws, or by the Declaration of Trust, or as may be required by law.

 



 

Vice Presidents

 

4.                                      The Trustees may in their discretion elect one or more Vice Presidents who shall perform such duties as the President may from time to time assign to them or as may be delegated to them by the Trustees. The Trustees at their election may designate a Vice President as Executive Vice President and in that event such Vice President shall have such additional duties as may be assigned to him from time to time by the Trustees.

 

Treasurer

 

5.                                      The Treasurer shall have general charge of the financial affairs of the Association and custody, except as may be otherwise provided herein, of all moneys, securities, valuable papers, books and accounts of the Association, of the Association’s seal, and of the bonds of any other officers or agents from whom a bond is required. He shall have authority in the name and on behalf of the Association and in the usual course of business, subject always to the general supervision and control of the Trustees and of the President, and except as they or he may otherwise order, to receive and hold all moneys and make disbursements thereof, to borrow money for the current needs of the Association and in the name of the Association to sign checks, notes, drafts, contracts, assignments and transfers of stock certificates or other securities, and other documents and instruments relating to its business, provided, however, that all notes or obligations given for money borrowed in excess of $50,000 that are signed by the Treasurer shall require the written approval of a Trustee other than the Treasurer.  He shall keep full and accurate accounts of the financial transactions of the Association and shall make such statements or reports thereof to the Trustees as they may from time to time require. Subject to the approval of the President he shall have authority to employ and discharge such agents and employees in connection with the financial affairs of the Association as in his judgment the interests of the Association may require, and to fix their compensation. He shall, upon request of the Trustees or the Chairman, attend meetings of the Trustees. He shall have such other powers and shall perform such other duties as may be prescribed by the Trustees or elsewhere in these Bylaws, or by the Declaration of Trust, or as may be required by law.

 

Assistant Treasurers

 

6.                                      The Trustees may in their discretion elect one or more Assistant Treasurers who shall perform such duties as the Treasurer may from time to time assign to them or as may be delegated to them by the Trustees.

 

Secretary

 

7.                                      The Secretary shall be sworn to the faithful performance of his duties. He shall attend all meetings of the Shareholders and except as the Trustees may otherwise order, all meetings of the Trustees, and shall keep accurate records thereof, and shall generally perform duties in the nature of those performed by the Clerk of a Massachusetts corporation. He shall have such other powers and perform such other duties as may be prescribed by the Declaration of Trust, by the Trustees, or elsewhere in these Bylaws, or by law.

 

2



 

Assistant Secretary

 

8.                                      The Assistant Secretaries, if one or more are chosen, shall be sworn to the faithful performance of their duties. Such Assistant Secretaries shall have such powers and duties as may be delegated to them, or either of them, by the Secretary or by the President. In the absence of the Secretary or in the event of his death, resignation, or incapacity, except as the Trustees shall otherwise order, such Assistant Secretaries, or either of them, shall have the powers and perform the duties of the Secretary.

 

ARTICLE II

 

SELECTION, TENURE AND ADDITIONAL QUALIFICATIONS OF OFFICERS.

 

1.                                      The Officers of the Association shall be elected annually at the Annual Meeting of the Trustees, and by ballot.

 

2.                                      The Chairman and the President shall be elected from among the Trustees. Other officers need not be Trustees. No officer need be a Shareholder.

 

3.                                      All officers shall hold their respective offices for one year and until the selection and qualification of their respective successors, except that any officer may be removed at any time by vote of, or resolution signed by, a majority of the Trustees, and except that an officer chosen to fill a vacancy shall hold office only until the next Annual Meeting of the Trustees and the qualification of his successor.

 

ARTICLE III

 

VACANCIES AND SUBSTITUTE OFFICERS AND AGENTS.

 

1.                                      The Trustees may at any time fill a vacancy which may occur for any reason in any office.

 

2.                                      In the event that any officer or agent of the Association is absent or temporarily unable to perform his duties, then, except as otherwise provided in these Bylaws, the Trustees may designate any person to exercise the powers and perform the duties of such officer during the period of such absence or disability. A statement that such absence or disability exists contained in any vote of the Trustee conferring such authority shall be binding and conclusive in favor of all persons not acting in bad faith.

 

ARTICLE IV

 

AUTHORITY TO SIGN CHECKS AND NOTES.

 

Authority elsewhere conferred in these Bylaws relative to the signing of checks or orders for the withdrawal of funds of the Association by certain officers shall not preclude the Trustees from providing from time to time that such checks or orders may be signed on behalf of the Association by other persons; and any check or order for withdrawal of funds which is signed as authorized by vote of the Trustees may be honored and paid in the usual course of business.

 

3



 

Authority elsewhere conferred in these Bylaws relative to the signing of notes or other obligations of the Association by certain officers shall not preclude the Trustees from providing from time to time that such notes or other obligations for money borrowed may be signed on behalf of the Association by other officers, provided, however, that all notes or other obligations for money borrowed in excess of $50,000 that are signed by any such other officer or officers shall require the written approval of a Trustee other than the signer.

 

ARTICLE V

 

SELECTION AND MEETINGS OF TRUSTEES.

 

1.                                      Except as otherwise provided in the Declaration of Trust or by law, at each Annual Meeting of the Shareholders, provided a quorum is present, the Trustees shall be elected by a plurality of the votes cast in such election.  Each Trustee shall hold office for a term that will expire at the annual meeting of Shareholders immediately succeeding their election, and until his successor shall have been elected and shall qualify, or until his death or until he shall resign or shall have been removed in the manner provided in the Declaration of Trust.  The number of Trustees elected by the Shareholders at each Annual Meeting of the Shareholders shall be not less than three.

 

2.                                      Regular meetings of the Trustees shall be held at such times and at such places as the Trustees may by vote from time to time determine.

 

3.                                      The regular meeting of the Trustees which is held on the day of or next following the day of the Annual Meeting of the Shareholders, or of any meeting held in lieu thereof, shall be considered the Annual Meeting of the Trustees; and at such meeting the annual elections of officers shall be held, appointment of committees shall be made, and other general annual business shall be transacted.

 

4.                                      The Chairman, the President or the Treasurer or any two Trustees shall have authority to convene any special meeting of the Trustees, and such meetings may be held at such time and place as shall be designated in the notice or waiver of notice of the meeting.

 

5.                                      The procedure at meetings of the Trustees shall be such as shall from time to time be determined by them.

 

6.                                      A majority of the Trustees shall constitute a quorum at any meeting, but a majority of those present, even though less than a quorum is present, may vote to adjourn.

 

7.                                      The consent in writing of any Trustee to any vote or action shall have the same effect as if he were personally present at a legal meeting at which such action was authorized or such vote passed.

 

8.                                      In addition, the Trustees or any committee thereof may act on all matters without meeting by resolution signed by all Trustees or committee members entitled to vote at a meeting and such resolution when so signed shall have the same force and effect as a vote duly passed at a meeting of the Trustees or the applicable committee.

 

4



 

ARTICLE VI

 

NOTICE OF MEETINGS.

 

1.                                      Any Shareholder or Trustee present at any meeting shall be presumed to have received due notice thereof.

 

2.                                      Any Shareholder or Trustee may waive notice of any meeting either before or after the meeting by a writing filed with the records of the meeting.

 

3.                                      Any regular or special meeting of the Trustees shall be a legal meeting without notice if all the Trustees are present or if all the Trustees who are not present waive notice.

 

4.                                      Any regular meeting, including the Annual Meeting, of the Trustees shall be presumed to have been duly called, and no further notice thereof shall be required, if such meeting is held on the day and at such hour and place as shall have been fixed by a vote taken at a previous meeting of the Trustees.

 

5.                                      Notices of meetings of the Trustees need not state the purposes of the meeting.

 

6.                                      Any notice required by the Declaration of Trust or by these Bylaws may be given by mailing the same, postage prepaid, addressed to the person entitled thereto at his usual or last known place of business or residence as shown on the books of the Association, and such notice shall be deemed given at the time of such mailing.

 

7.                                      When notice of a meeting of the Trustees is required, such notice may be given orally, in writing, or by telephone or fax, and a notice of a meeting mailed, postage prepaid, addressed to a Trustee at his usual or last known place of business or residence at least three days before the date of the meeting shall be sufficient notice to such Trustee in any event.

 

8.                                      If by reason of war or otherwise communication with a Shareholder or Trustee would be unlawful, notice to such Shareholder or Trustee of any meeting held during the period when such communication is unlawful shall not be requisite to the validity of such meeting.

 

9.                                      It shall be the duty of the Secretary to give such notices of meetings as are required by these Bylaws, but in case of his absence, death, resignation, incapacity, or refusal to act, notice may be given by either the Assistant Secretary or the person or persons ordering the meeting.

 

ARTICLE VII

 

COMMITTEES.

 

1.                                      The Trustees may appoint from among their own number an Executive Committee, consisting of such number of Trustees as they shall determine, and such other committees as they shall determine.

 

5



 

Executive Committee

 

2.                                      Between meetings of the Trustees the Executive Committee shall have the same power to direct or limit action by any of the officers as the entire Board of Trustees would have, except in so far as the Trustee may by vote expressly prescribe otherwise. Without limiting the foregoing general powers, the Executive Committee may at any time, except as these Bylaws otherwise provide, designate a person to succeed temporarily to the powers and perform the duties of any officer or agent who is absent or disabled or where a vacancy exists for any reason; may determine whether the Trustees desire to consider the purchase of shares offered for transfer; and may waive or authorize waivers of restrictions on the transfer of shares.

 

The Executive Committee may choose their own presiding and recording officers and the manner of their proceedings and may act in meeting or otherwise, but shall cause a written record to be kept of their proceedings and decisions, which shall be available to all the Trustees at any time. Any member of the Committee present at any meeting shall be presumed to have received due notice thereof, and any member may waive notice; but whenever notice is required a notice given in the manner prescribed for meetings of Trustees shall be sufficient.

 

Other Committees

 

3.                                      Other committees shall consist of such number of Trustees and other members and have such powers as the Trustees may determine.

 

ARTICLE VIII

 

SHARES AND TRANSFERS THEREOF.

 

The beneficial interest in the trust property shall be divided into 1,000,000 shares. Such shares shall be evidenced by certificates substantially in the form prescribed by Article IX of the Declaration of Trust.

 

Records of all certificates of shares outstanding shall be maintained by the Trustees, and for this purpose the Trustees may employ the services of a transfer agent or agents and delegate to it or them the customary powers exercised by transfer agents of corporations. The address of a Shareholder as appearing by said records may be presumed to be his registered address or last known address for purposes of all notices, dividends, and otherwise.

 

Certificates of shares shall be signed by the President and Secretary, and shall be countersigned by the Transfer Agent if one has been appointed at the time of issue.

 

The Association may for all purposes presume that the registered holder of record of a certificate of shares is the absolute owner of the shares represented thereby; and the Association shall not be obliged to see the execution of any trust, actual or constructive, to which any of the shares is subject.

 

As of December 7, 2006, 774,629 shares of beneficial interest are currently issued and outstanding.  The record holder of all such shares is Heritage Acquisition Corp.  All of such shares have been duly issued and are fully-paid and non-assessable.

 

6



 

ARTICLE IX

 

AMENDMENTS.

 

These Bylaws may be amended or repealed by (i) the affirmative vote of the holders of record of a majority of the outstanding shares of the beneficial interest of the Association entitled to vote in respect thereof, given at an Annual Meeting or at any special meeting, provided that notice of the proposed alteration or repeal or of the proposed new bylaws be included in the notice of such meeting, or (ii) the affirmative vote of a majority of the Trustees, at any regular or special meeting of the Trustees, provided, in each case, that the Bylaws of the Association as existing after such amendment or repeal shall not be inconsistent with any provision of the Declaration of Trust.

 

7




Exhibit 4.6

 


 

B&G Foods, Inc.

 


 

INDENTURE

 

Dated as of         , 20

 


 

as Trustee

 


 



 

TABLE OF CONTENTS

 

 

Page

 

 

ARTICLE I. DEFINITIONS AND INCORPORATION BY REFERENCE

1

Section 1.1.

Definitions

1

Section 1.2.

Other Definitions

7

Section 1.3.

Incorporation by Reference of Trust Indenture Act

7

Section 1.4.

Rules of Construction

8

ARTICLE II. THE SECURITIES

9

Section 2.1.

Issuable in Series

9

Section 2.2.

Establishment of Terms of Series of Securities

9

Section 2.3.

Execution and Authentication

11

Section 2.4.

Registrar and Paying Agent

12

Section 2.5.

Paying Agent to Hold Money in Trust

13

Section 2.6.

Securityholder Lists

13

Section 2.7.

Transfer and Exchange

13

Section 2.8.

Mutilated, Destroyed, Lost and Stolen Securities

14

Section 2.9.

Outstanding Securities

15

Section 2.10.

Treasury Securities

15

Section 2.11.

Temporary Securities

15

Section 2.12.

Cancellation

16

Section 2.13.

Defaulted Interest

16

Section 2.14.

Global Securities

16

Section 2.15.

CUSIP Numbers

17

ARTICLE III. REDEMPTION

17

Section 3.1.

Notice to Trustee

17

Section 3.2.

Selection of Securities to be Redeemed or Repurchased

18

Section 3.3.

Notice of Redemption

18

Section 3.4.

Effect of Notice of Redemption

19

Section 3.5.

Deposit of Redemption Price

19

Section 3.6.

Securities Redeemed in Part

19

ARTICLE IV. COVENANTS

20

Section 4.1.

Payment of Principal and Interest

20

Section 4.2.

Maintenance of Office or Agency

20

Section 4.3.

SEC Reports

20

Section 4.4.

Compliance Certificate

21

Section 4.5.

Taxes

22

Section 4.6.

Stay, Extension and Usury Laws

22

Section 4.7.

Corporate Existence

22

ARTICLE V. SUCCESSORS

23

Section 5.1.

Merger, Consolidation, or Sale of Assets

23

Section 5.2.

Successor Corporation Substituted

24

ARTICLE VI. DEFAULTS AND REMEDIES

24

Section 6.1.

Events of Default

24

Section 6.2.

Acceleration

26

Section 6.3.

Other Remedies

26

 

i



 

Section 6.4.

Waiver of Past Defaults

26

Section 6.5.

Control by Majority

27

Section 6.6.

Limitation on Suits

27

Section 6.7.

Rights of Holders of Securities to Receive Payment

28

Section 6.8.

Collection Suit by Trustee

28

Section 6.9.

Trustee May File Proofs of Claim

28

Section 6.10.

Priorities

29

Section 6.11.

Undertaking for Costs

29

ARTICLE VII. TRUSTEE

29

Section 7.1.

Duties of Trustee

29

Section 7.2.

Rights of Trustee

31

Section 7.3.

Individual Rights of Trustee

32

Section 7.4.

Trustee’s Disclaimer

32

Section 7.5.

Notice of Defaults

32

Section 7.6.

Reports by Trustee to Holders

33

Section 7.7.

Compensation and Indemnity

33

Section 7.8.

Replacement of Trustee

34

Section 7.9.

Successor Trustee by Merger, etc.

35

Section 7.10.

Eligibility; Disqualification

35

Section 7.11.

Preferential Collection of Claims Against Company

35

ARTICLE VIII. LEGAL DEFEASANCE AND COVENANT DEFEASANCE

35

Section 8.1.

Option to Effect Legal Defeasance or Covenant Defeasance

35

Section 8.2.

Legal Defeasance and Discharge

35

Section 8.3.

Covenant Defeasance

36

Section 8.4.

Conditions to Legal or Covenant Defeasance

36

Section 8.5.

Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions

38

Section 8.6.

Repayment to Company

38

Section 8.7.

Reinstatement

38

ARTICLE IX. AMENDMENTS AND WAIVERS

39

Section 9.1.

Without Consent of Holders

39

Section 9.2.

With Consent of Holders

40

Section 9.3.

Limitations

40

Section 9.4.

Compliance with Trust Indenture Act

41

Section 9.5.

Revocation and Effect of Consents

41

Section 9.6.

Notation on or Exchange of Securities

41

Section 9.7.

Trustee Protected

42

ARTICLE X. SATISFACTION AND DISCHARGE

42

Section 10.1.

Satisfaction and Discharge

42

Section 10.2.

Application of Trust Money

43

ARTICLE XI. MISCELLANEOUS

44

Section 11.1.

Trust Indenture Act Controls

44

Section 11.2.

Notices

44

Section 11.3.

Communication by Holders with Other Holders

45

Section 11.4.

Certificate and Opinion as to Conditions Precedent

45

Section 11.5.

Statements Required in Certificate or Opinion

45

 

ii



 

Section 11.6.

Rules by Trustee and Agents

46

Section 11.7.

Legal Holidays

46

Section 11.8.

No Recourse Against Others

46

Section 11.9.

Counterparts

46

Section 11.10.

Governing Laws

46

Section 11.11.

No Adverse Interpretation of Other Agreements

46

Section 11.12.

Successors

46

Section 11.13.

Severability

47

Section 11.14.

Table of Contents, Headings, Etc.

47

Section 11.15.

Securities in a Foreign Currency or in ECU

47

Section 11.16.

Judgment Currency

48

Section 11.17.

Waiver of Jury Trial

48

Section 11.18.

Force Majeure

48

ARTICLE XII. SINKING FUNDS

49

Section 12.1.

Applicability of Article

49

Section 12.2.

Satisfaction of Sinking Fund Payments with Securities

49

Section 12.3.

Redemption of Securities for Sinking Fund

50

 

iii



 

B&G FOODS, INC.

 

Reconciliation and tie between Trust Indenture Act of 1939 and
Indenture, dated as of        , 20

 

§ 310(a)(1)

 

 

 

 

7.10

(a)(2)

 

 

 

 

7.10

(a)(3)

 

 

 

 

Not Applicable

(a)(4)

 

 

 

 

Not Applicable

(a)(5)

 

 

 

 

7.10

(b)

 

 

 

 

7.10

(c)

 

 

 

 

Not Applicable

§ 311(a)

 

 

 

 

7.11

(b)

 

 

 

 

7.11

(c)

 

 

 

 

Not Applicable

§ 312(a)

 

 

 

 

2.6

(b)

 

 

 

 

11.3

(c)

 

 

 

 

11.3

§ 313(a)

 

 

 

 

7.6

(b)(1)

 

 

 

 

7.6

(b)(2)

 

 

 

 

7.6

(c)(1)

 

 

 

 

7.6

(d)

 

 

 

 

7.6

§ 314(a)

 

 

 

 

4.3, 11.5

(b)

 

 

 

 

Not Applicable

(c)(1)

 

 

 

 

11.4

(c)(2)

 

 

 

 

11.4

(c)(3)

 

 

 

 

Not Applicable

(d)

 

 

 

 

Not Applicable

(e)

 

 

 

 

11.5

(f)

 

 

 

 

Not Applicable

§ 315(a)

 

 

 

 

7.1

(b)

 

 

 

 

7.5

(c)

 

 

 

 

7.1

(d)

 

 

 

 

7.1

(e)

 

 

 

 

6.11

§ 316(a)

 

 

 

 

2.10

(a)(1)(A)

 

 

 

 

6.5

(a)(1)(B)

 

 

 

 

6.4

(b)

 

 

 

 

6.7

§ 317(a)(1)

 

 

 

 

6.8

(a)(2)

 

 

 

 

6.9

(b)

 

 

 

 

2.5

§ 318(a)

 

 

 

 

11.1

 


Note:  This reconciliation and tie shall not, for any purpose, be deemed to be part of the Indenture.

 

iv



 

Indenture dated as of         , 20    between B&G Foods, Inc., a Delaware corporation (“Company”), and                           as trustee (“Trustee”).

 

Each party agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders of the Securities issued under this Indenture.

 

ARTICLE I.
DEFINITIONS AND INCORPORATION BY REFERENCE

 

Section 1.1.                                 Definitions.

 

“Additional Amounts” means any additional amounts which are required hereby or by any Security, under circumstances specified herein or therein, to be paid by the Company in respect of certain taxes imposed on Holders specified herein or therein and which are owing to such Holders.

 

“Affiliate” of any specified person means any other person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person.  For purposes of this definition, “control”, as used with respect to any person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such person, whether through the ownership of voting securities, by agreement or otherwise; provided that beneficial ownership of 10% or more of the Voting Stock of a Person will be deemed to be control.  For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings.

 

“Agent” means any Registrar, Paying Agent or Service Agent.

 

“Attributable Debt” in respect of a sale and leaseback transaction means, at the time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended or may, at the option of the lessor, be extended.  Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP; provided, however, that if such sale and leaseback transaction results in a Capital Lease Obligation, the amount of Indebtedness represented thereby will be determined in accordance with the definition of “Capital Lease Obligation.”

 

“Authorized Newspaper” means a newspaper in an official language of the country of publication customarily published at least once a day for at least five days in each calendar week and of general circulation in the place in connection with which the term is used.  If it shall be impractical in the opinion of the Trustee to make any publication of any notice required hereby in an Authorized Newspaper, any publication or other notice in lieu thereof that is made or given by the Trustee shall constitute a sufficient publication of such notice.

 

“Bearer” means anyone in possession from time to time of a Bearer Security.

 

“Bearer Security” means any Security, including any interest coupon appertaining thereto, that does not provide for the identification of the Holder thereof.

 



 

“Board of Directors” means:

 

(1)                                 with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board;

 

(2)                                 with respect to a partnership, the Board of Directors of the general partner of the partnership;

 

(3)                                 with respect to a limited liability company, the managing member or members or any controlling committee of managing members thereof; and

 

(4)                                 with respect to any other person, the board or committee of such person serving a similar function.

 

“Board Resolution” means a copy of a resolution certified by the Secretary or an Assistant Secretary of the Company to have been adopted by the Board of Directors or pursuant to authorization by the Board of Directors and to be in full force and effect on the date of the certificate and delivered to the Trustee.

 

“Business Day” means, unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 

“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty.

 

“Capital Stock” means:

 

(1)                                 in the case of a corporation, corporate stock;

 

(2)                                 in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock;

 

(3)                                 in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and

 

(4)                                 any other interest or participation that confers on a person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, whether or not such debt securities include any right of participation with Capital Stock.

 

“Company” means the party named as such above until a successor replaces it and thereafter means the successor.

 

2



 

“Company Order” means a written order signed in the name of the Company by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer.

 

“Company Request” means a written request signed in the name of the Company by its Chief Executive Officer, the President or a Vice President, and by its Treasurer, an Assistant Treasurer, its Secretary or an Assistant Secretary, and delivered to the Trustee.

 

“Corporate Trust Office” means the office of the Trustee at which at any particular time its corporate trust business shall be principally administered.

 

“Default” means any event that is, or with the passage of time or the giving of notice or both would be, an Event of Default.

 

“Depository” means, with respect to the Securities of any Series issuable or issued in whole or in part in the form of one or more Global Securities, the person designated as Depository for such Series by the Company, which Depository shall be a clearing agency registered under the Exchange Act; and if at any time there is more than one such person, “Depository” as used with respect to the Securities of any Series shall mean the Depository with respect to the Securities of such Series.

 

“Discount Security” means any Security that provides for an amount less than the stated principal amount thereof to be due and payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2.

 

“Dollars” and “$”means the currency of The United States of America.

 

“ECU” means the European Currency Unit as determined by the Commission of the European Union.

 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock).

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

“Foreign Currency” means any currency or currency unit issued by a government other than the government of The United States of America.

 

“Foreign Government Obligations” means, with respect to Securities of any Series that are denominated in a Foreign Currency, (i) direct obligations of the government that issued or caused to be issued such currency for the payment of which obligations its full faith and credit is pledged or (ii) obligations of a person controlled or supervised by or acting as an agency or instrumentality of such government the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by such government, which, in either case under clauses (i) or (ii), are not callable or redeemable at the option of the issuer thereof.

 

3



 

“GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time.

 

“Global Security” or “Global Securities” means a Security or Securities, as the case may be, in the form established pursuant to Section 2.2 evidencing all or part of a Series of Securities, issued to the Depository for such Series or its nominee, and registered in the name of such Depository or nominee.

 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the payment for which the United States pledges its full faith and credit.

 

“Guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to maintain financial statement conditions or otherwise).

 

“Hedging Obligations” means, with respect to any specified person, the obligations of such person under:

 

(1)                                 interest rate swap agreements (whether from fixed to floating or from floating to fixed), interest rate cap agreements and interest rate collar agreements;

 

(2)                                 other agreements or arrangements designed to manage interest rates or interest rate risk; and

 

(3)                                 other agreements or arrangements designed to protect such Person against fluctuations in currency exchange rates or commodity prices.

 

“Holder” or “Securityholder” means a person in whose name a Security is registered or the holder of a Bearer Security.

 

“Indebtedness” means, with respect to any specified person, any indebtedness of such person (excluding accrued expenses and trade payables), whether or not contingent:

 

(1)                                 in respect of borrowed money;

 

(2)                                 evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof);

 

(3)                                 in respect of banker’s acceptances;

 

4



 

(4)                                 representing Capital Lease Obligations or Attributable Debt in respect of sale and leaseback transactions;

 

(5)                                 representing the balance deferred and unpaid of the purchase price of any property (including trade payables) or services due more than six months after such property is acquired or such services are completed; or

 

(6)                                 representing the net amount owing under any Hedging Obligations,

 

if and to the extent any of the preceding items (other than letters of credit, Attributable Debt and Hedging Obligations) would appear as a liability upon a balance sheet of the specified person prepared in accordance with GAAP.  In addition, the term “Indebtedness” includes all Indebtedness of others secured by a Lien on any asset of the specified person (whether or not such Indebtedness is assumed by the specified person) and, to the extent not otherwise included, the Guarantee by the specified person of any Indebtedness of any other person; provided, that the amount of such Indebtedness shall be deemed not to exceed the lesser of the amount secured by such Lien and the value of the person’s property securing such Lien.

 

“Indenture” means this Indenture as amended or supplemented from time to time and shall include the form and terms of particular Series of Securities established as contemplated hereunder.

 

“interest” with respect to any Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

 

“Lien” means, with respect to any asset:

 

(1)                                 any mortgage, deed of trust, deed to secure debt, lien (statutory or otherwise), pledge, hypothecation, encumbrance, restriction, collateral assignment, charge or security interest in, on or of such asset;

 

(2)                                 the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset; and

 

(3)                                 in the case of Equity Interests or debt securities, any purchase option, call or similar right of a third party with respect to such Equity Interests or debt securities.

 

“Maturity,” when used with respect to any Security or installment of principal thereof, means the date on which the principal of such Security or such installment of principal becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration, call for redemption, notice of option to elect repayment or otherwise.

 

“Officer” means the Chief Executive Officer, the President, any Executive Vice President, any Vice President, the Treasurer, the Secretary, any Assistant Treasurer or any Assistant Secretary of the Company.

 

5


 

“Officers’ Certificate” means a certificate signed by two Officers, one of whom must be the Company’s principal executive officer, principal financial officer or principal accounting officer.

 

“Opinion of Counsel” means a written opinion of legal counsel that meets the requirements of Section 11.5 hereof.  The counsel may be an employee of or counsel to the Company.

 

“person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity.

 

“principal” of a Security means the principal of the Security plus, when appropriate, the premium, if any, on, and any Additional Amounts in respect of, the Security.

 

“Responsible Officer” means any officer of the Trustee in its Corporate Trust Office (including any managing director, director, vice president, assistant vice president or trust officer) and also means, with respect to a particular corporate trust matter, any other officer customarily performing functions similar to those performed by the above designated officers and also means, any other officer to whom any corporate trust matter is referred because of his or her knowledge of and familiarity with a particular subject and who shall have direct responsibility for the administration of this Indenture.

 

“SEC” means the Securities and Exchange Commission.

 

“Securities” means the debentures, notes or other debt instruments of the Company of any Series authenticated and delivered under this Indenture.

 

“Series” or “Series of Securities” means each series of debentures, notes or other debt instruments of the Company created pursuant to Sections 2.1 and 2.2 hereof.

 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of the indenture, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof.

 

“Subsidiary” means, with respect to any specified person:

 

(1)                                 any corporation, association or other business entity of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of directors, managers or trustees of the corporation, association or other business entity is at the time owned or controlled, directly or indirectly, by that person or one or more of the other Subsidiaries of that person (or a combination thereof); and

 

6



 

(2)                                 any partnership (a) the sole general partner or the managing general partner of which is such person or a Subsidiary of such person or (b) the only general partners of which are that person or one or more Subsidiaries of that person (or any combination thereof).

 

“TIA” means the Trust Indenture Act of 1939 (15 U.S. Code §§ 77aaa-77bbbb) as in effect on the date of this Indenture; provided, however, that in the event the Trust Indenture Act of 1939 is amended after such date, “TIA” means, to the extent required by any such amendment, the Trust Indenture Act as so amended.

 

“Trustee” means the person named as the “Trustee” in the first paragraph of this instrument until a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Trustee” shall mean each person who is then a Trustee hereunder, and if at any time there is more than one such person, “Trustee” as used with respect to the Securities of any Series shall mean the Trustee with respect to Securities of that Series.

 

“Voting Stock” of any person as of any date means the Capital Stock of such person that is at the time entitled to vote in the election of the Board of Directors of such person.

 

Section 1.2.                                 Other Definitions.

 

 

 

DEFINED IN

TERM

 

SECTION

 

 

 

“Bankruptcy Law”

 

6.1

“Custodian”

 

6.1

“Event of Default”

 

6.1

“Journal”

 

11.15

“Judgment Currency”

 

11.16

“Legal Holiday”

 

11.7

“mandatory sinking fund payment”

 

12.1

“Market Exchange Rate”

 

11.15

“New York Banking Day”

 

11.16

“optional sinking fund payment”

 

12.1

“Paying Agent”

 

2.4

“Payment Default”

 

6.1

“Registrar”

 

2.4

“Required Currency”

 

11.16

“Service Agent”

 

2.4

 

Section 1.3.                                 Incorporation by Reference of Trust Indenture Act.

 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.  The following TIA terms used in this Indenture have the following meanings:

 

7



 

“Commission” means the SEC.

 

“indenture securities” means the Securities.

 

“indenture security holder” means a Securityholder.

 

“indenture to be qualified” means this Indenture.

 

“indenture trustee” or “institutional trustee” means the Trustee.

 

“obligor” on the indenture securities means the Company and any successor obligor upon the Securities.

 

All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA and not otherwise defined herein are used herein as so defined.

 

Section 1.4.                                 Rules of Construction.

 

Unless the context otherwise requires:

 

(a)                                 a term has the meaning assigned to it;

 

(b)                                 an accounting term not otherwise defined has the meaning assigned to it in accordance with generally accepted accounting principles;

 

(c)                                  references to “generally accepted accounting principles” and “GAAP” shall mean generally accepted accounting principles in effect as of the time when and for the period as to which such accounting principles are to be applied;

 

(d)                                 “or” is not exclusive;

 

(e)                                  words in the singular include the plural, and in the plural include the singular;

 

(f)                                   “will” shall be interpreted to express a command;

 

(g)                                  provisions apply to successive events and transactions;

 

(h)                                 references to sections of or rules under the Securities Act, the Exchange Act or the TIA will be deemed to include substitute, replacement of successor sections or rules adopted by the SEC from time to time;

 

(i)                                     any reference to an “Appendix,” “Article,” “Section,” “clause,” “Schedule” or “Exhibit” refers to an Appendix, Article, Section, clause, Schedule or Exhibit, as the case may be, of this Indenture;

 

8



 

(j)                                    the words “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not any particular Article, Section, clause or other subdivision; and

 

(k)                                 unless otherwise provided, references to agreements and other instruments shall be deemed to include all amendments and other modifications to such agreements or instruments, but only to the extent such amendments and other modifications are not prohibited by the terms of this Indenture.

 

ARTICLE II.
THE SECURITIES

 

Section 2.1.                                 Issuable in Series.

 

The aggregate principal amount of Securities that may be authenticated and delivered under this Indenture is unlimited.  The Securities may be issued in one or more Series. All Securities of a Series shall be identical except as may be set forth in a Board Resolution, a supplemental indenture or an Officers’ Certificate detailing the adoption of the terms thereof pursuant to the authority granted under a Board Resolution. In the case of Securities of a Series to be issued from time to time, the Board Resolution, Officers’ Certificate or supplemental indenture detailing the adoption of the terms thereof pursuant to authority granted under a Board Resolution may provide for the method by which specified terms (such as interest rate, maturity date, record date or date from which interest shall accrue) are to be determined.  Securities may differ between Series in respect of any matters, provided that all Series of Securities shall be equally and ratably entitled to the benefits of the Indenture.

 

Section 2.2.                                 Establishment of Terms of Series of Securities.

 

At or prior to the issuance of any Securities within a Series, the following shall be established (as to the Series generally, in the case of Subsection 2.2.1 and either as to such Securities within the Series or as to the Series generally in the case of Subsections 2.2.2 through 2.2.21) by or pursuant to a Board Resolution, and set forth or determined in the manner provided in a Board Resolution, supplemental indenture or an Officers’ Certificate pursuant to authority granted under a Board Resolution:

 

2.2.1.                                          the title of the Series (which shall distinguish the Securities of that particular Series from the Securities of any other Series);

 

2.2.2.                                          the price or prices (expressed as a percentage of the principal amount thereof) at which the Securities of the Series will be issued;

 

2.2.3.                                          any limit upon the aggregate principal amount of the Securities of the Series which may be authenticated and delivered under this Indenture (except for Securities authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Securities of the Series pursuant to Section 2.7, 2.8, 2.11, 3.6 or 9.6);

 

2.2.4.                                          the date or dates on which the principal of the Securities of the Series is payable;

 

9



 

2.2.5.                                          the rate or rates (which may be fixed or variable) per annum or, if applicable, the method used to determine such rate or rates (including, but not limited to, any commodity, commodity index, stock exchange index or financial index) at which the Securities of the Series shall bear interest, if any, the date or dates from which such interest, if any, shall accrue, the date or dates on which such interest, if any, shall commence and be payable and any regular record date for the interest payable on any interest payment date;

 

2.2.6.                                          the place or places where the principal of and interest, if any, on the Securities of the Series shall be payable, where the Securities of such Series may be surrendered for registration of transfer or exchange and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served, and the method of such payment, if by wire transfer, mail or other means;

 

2.2.7.                                          if applicable, the period or periods within which, the price or prices at which and the terms and conditions upon which the Securities of the Series may be redeemed, in whole or in part, at the option of the Company;

 

2.2.8.                                          the obligation, if any, of the Company to redeem or purchase the Securities of the Series pursuant to any sinking fund or analogous provisions or at the option of a Holder thereof and the period or periods within which, the price or prices at which and the terms and conditions upon which Securities of the Series shall be redeemed or purchased, in whole or in part, pursuant to such obligation;

 

2.2.9.                                          the dates, if any, on which and the price or prices at which the Securities of the Series will be repurchased by the Company at the option of the Holders thereof and other detailed terms and provisions of such repurchase obligations;

 

2.2.10.                                   if other than denominations of $1,000 and any integral multiple thereof, the denominations in which the Securities of the Series shall be issuable;

 

2.2.11.                                   the forms of the Securities of the Series in bearer or fully registered form (and, if in fully registered form, whether the Securities will be issuable as Global Securities);

 

2.2.12.                                   if other than the principal amount thereof, the portion of the principal amount of the Securities of the Series that shall be payable upon declaration of acceleration of the maturity thereof pursuant to Section 6.2;

 

2.2.13.                                   the currency of denomination of the Securities of the Series, which may be Dollars or any Foreign Currency, including, but not limited to, the ECU, and if such currency of denomination is a composite currency other than the ECU, the agency or organization, if any, responsible for overseeing such composite currency;

 

2.2.14.                                   the designation of the currency, currencies or currency units in which payment of the principal of and interest, if any, on the Securities of the Series will be made;

 

2.2.15.                                   if payments of principal of or interest, if any, on the Securities of the Series are to be made in one or more currencies or currency units other than that or those in

 

10



 

which such Securities are denominated, the manner in which the exchange rate with respect to such payments will be determined;

 

2.2.16.                                   the manner in which the amounts of payment of principal of or interest, if any, on the Securities of the Series will be determined, if such amounts may be determined by reference to an index based on a currency or currencies or by reference to a commodity, commodity index, stock exchange index or financial index;

 

2.2.17.                                   the provisions, if any, relating to any security or guarantee provided for the Securities of the Series, and any subordination in right of payment, if any, of the Securities of the Series;

 

2.2.18.                                   any addition to or change in the Events of Default which applies to any Securities of the Series and any change in the right of the Trustee or the requisite Holders of such Securities to declare the principal amount thereof due and payable pursuant to Section 6.2;

 

2.2.19.                                   any addition to or change in the covenants set forth in Articles IV or V which applies to Securities of the Series;

 

2.2.20.                                   any other terms of the Securities of the Series (which may modify or delete any provision of this Indenture insofar as it applies to such Series); and

 

2.2.21.                                   any depositories, interest rate calculation agents, exchange rate calculation agents or other agents with respect to Securities of such Series if other than those appointed herein.

 

All Securities of any one Series need not be issued at the same time and may be issued from time to time, consistent with the terms of this Indenture, if so provided by or pursuant to the Board Resolution, supplemental indenture hereto or Officers’ Certificate referred to above, and the authorized principal amount of any Series may not be increased to provide for issuances of additional Securities of such Series, unless otherwise provided in such Board Resolution, supplemental indenture or Officers’ Certificate.

 

Section 2.3.                                 Execution and Authentication.

 

At least one Officer must sign the Securities for the Company by manual, facsimile, .pdf attachment or other electronically transmitted signature.

 

If an Officer whose signature is on a Security no longer holds that office at the time the Security is authenticated, the Security shall nevertheless be valid.

 

A Security shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.  The signature shall be conclusive evidence that the Security has been authenticated under this Indenture.

 

The Trustee shall at any time, and from time to time, authenticate Securities for original issue in the principal amount provided in the Board Resolution, supplemental indenture hereto or Officers’ Certificate, upon receipt by the Trustee of a Company Order.  Such Company

 

11



 

Order may authorize authentication and delivery pursuant to oral or electronic instructions from the Company or its duly authorized agent or agents, which oral instructions shall be promptly confirmed in writing.  Each Security shall be dated the date of its authentication unless otherwise provided by a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate.

 

The aggregate principal amount of Securities of any Series outstanding at any time may not exceed any limit upon the maximum principal amount for such Series set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2, except as provided in Section 2.8.

 

Prior to the issuance of Securities of any Series, the Trustee shall have received and (subject to Section 7.2) shall be fully protected in relying on:  (a) the Board Resolution, supplemental indenture hereto or Officers’ Certificate establishing the form of the Securities of that Series or of Securities within that Series and the terms of the Securities of that Series or of Securities within that Series, (b) an Officers’ Certificate complying with Section 11.4, and (c) an Opinion of Counsel complying with Section 11.4.

 

The Trustee shall have the right to decline to authenticate and deliver any Securities of such Series: (a) if the Trustee, being advised by counsel, determines that such action may not be taken lawfully; or (b) if the Trustee in good faith by its board of directors or trustees, executive committee or a trust committee of directors and/or vice-presidents shall determine that such action would expose the Trustee to personal liability to Holders of any then outstanding Series of Securities.

 

The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Securities.  An authenticating agent may authenticate Securities whenever the Trustee may do so.  Each reference in this Indenture to authentication by the Trustee includes authentication by such agent.  An authenticating agent has the same rights as an Agent to deal with the Company or an Affiliate of the Company.

 

Section 2.4.                                 Registrar and Paying Agent.

 

The Company shall maintain, with respect to each Series of Securities, at the place or places specified with respect to such Series pursuant to Section 2.2, an office or agency where Securities of such Series may be presented or surrendered for payment (“Paying Agent”), where Securities of such Series may be surrendered for registration of transfer or exchange (“Registrar”) and where notices and demands to or upon the Company in respect of the Securities of such Series and this Indenture may be served (“Service Agent”).  The Registrar shall keep a register with respect to each Series of Securities and to their transfer and exchange.  The Company will give prompt written notice to the Trustee of the name and address, and any change in the name or address, of each Registrar, Paying Agent or Service Agent.  If at any time the Company shall fail to maintain any such required Registrar, Paying Agent or Service Agent or shall fail to furnish the Trustee with the name and address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee, and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.

 

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The Company may also from time to time designate one or more co-registrars, additional paying agents or additional service agents and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Company of its obligations to maintain a Registrar, Paying Agent and Service Agent in each place so specified pursuant to Section 2.2 for Securities of any Series for such purposes.  The Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the name or address of any such co-registrar, additional paying agent or additional service agent.  The term “Registrar” includes any co-registrar; the term “Paying Agent” includes any additional paying agent; and the term “Service Agent” includes any additional service agent.

 

The Company hereby appoints the Trustee the initial Registrar, Paying Agent and Service Agent for each Series unless another Registrar, Paying Agent or Service Agent, as the case may be, is appointed prior to the time Securities of that Series are first issued.

 

Section 2.5.                                 Paying Agent to Hold Money in Trust.

 

The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust, for the benefit of Securityholders of any Series of Securities, or the Trustee, all money held by the Paying Agent for the payment of principal of or interest on the Series of Securities, and will notify the Trustee of any default by the Company in making any such payment.  While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee.  The Company at any time may require a Paying Agent to pay all money held by it to the Trustee.  Upon payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary of the Company) shall have no further liability for the money.  If the Company or a Subsidiary of the Company acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of Securityholders of any Series of Securities all money held by it as Paying Agent.

 

Section 2.6.                                 Securityholder Lists.

 

The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders of each Series of Securities and shall otherwise comply with TIA  § 312(a).  If the Trustee is not the Registrar, the Company shall furnish to the Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request in writing a list, in such form and as of such date as the Trustee may reasonably require, of the names and addresses of Securityholders of each Series of Securities.

 

Section 2.7.                                 Transfer and Exchange.

 

Where Securities of a Series are presented to the Registrar or a co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Securities of the same Series, the Registrar shall register the transfer or make the exchange if its requirements for such transactions are met.  To permit registrations of transfers and exchanges, the Trustee shall authenticate Securities at the Registrar’s request.  No service charge shall be made for any registration of transfer or exchange (except as otherwise expressly permitted herein), but the

 

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Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer tax or similar governmental charge payable upon exchanges pursuant to Sections 2.11, 3.6 or 9.6).

 

Neither the Company nor the Registrar shall be required (a) to issue, register the transfer of, or exchange Securities of any Series for the period beginning at the opening of business fifteen days immediately preceding the mailing of a notice of redemption of Securities of that Series selected for redemption and ending at the close of business on the day of such mailing, or (b) to register the transfer of or exchange Securities of any Series selected, called or being called for redemption as a whole or the portion being redeemed of any such Securities selected, called or being called for redemption in part.

 

Section 2.8.                                 Mutilated, Destroyed, Lost and Stolen Securities.

 

If any mutilated Security is surrendered to the Trustee, the Company shall execute and the Trustee shall authenticate and make available for delivery in exchange therefor a new Security  of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

If there shall be delivered to the Company and the Trustee (i) evidence to their satisfaction of the destruction, loss or theft of any Security and (ii) such security or indemnity as may be required by them to save each of them and any agent of either of them harmless, then, in the absence of notice to the Company or the Trustee that such Security has been acquired by a bona fide purchaser, the Company shall execute and upon its request the Trustee shall authenticate and make available for delivery, in lieu of any such destroyed, lost or stolen Security, a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding.

 

In case any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Security, pay such Security.

 

Upon the issuance of any new Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

 

Every new Security of any Series issued pursuant to this Section in lieu of any destroyed, lost or stolen Security shall constitute an original additional contractual obligation of the Company, whether or not the destroyed, lost or stolen Security shall be at any time enforceable by anyone, and shall be entitled to all the benefits of this Indenture equally and proportionately with any and all other Securities of that Series duly issued hereunder.

 

The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to the replacement or payment of mutilated, destroyed, lost or stolen Securities.

 

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Section 2.9.                                 Outstanding Securities.

 

Subject to Section 2.10, the Securities outstanding at any time are all the Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest on a Global Security effected by the Trustee in accordance with the provisions hereof and those described in this Section as not outstanding.

 

If a Security is replaced pursuant to Section 2.8, it ceases to be outstanding until the Trustee receives proof satisfactory to it that the replaced Security is held by a bona fide purchaser.

 

If the Paying Agent (other than the Company, a Subsidiary of the Company or an Affiliate of the Company) holds on the Maturity of Securities of a Series money sufficient to pay such Securities payable on that date, then on and after that date such Securities of the Series cease to be outstanding and interest on them ceases to accrue.

 

Notwithstanding Section 2.10, a Security does not cease to be outstanding because the Company or an Affiliate of the Company holds the Security.

 

In determining whether the Holders of the requisite principal amount of outstanding Securities have given any request, demand, authorization, direction, notice, consent or waiver hereunder, the principal amount of a Discount Security that shall be deemed to be outstanding for such purposes shall be the amount of the principal thereof that would be due and payable as of the date of such determination upon a declaration of acceleration of the Maturity thereof pursuant to Section 6.2.

 

Section 2.10.                          Treasury Securities.

 

In determining whether the Holders of the required principal amount of Securities of a Series have concurred in any request, demand, authorization, direction, notice, consent or waiver Securities of a Series owned by the Company or an Affiliate of the Company shall be disregarded, except that for the purposes of determining whether the Trustee shall be protected in relying on any such request, demand, authorization, direction, notice, consent or waiver only Securities of a Series that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.

 

Section 2.11.                          Temporary Securities.

 

Until definitive Securities are ready for delivery, the Company may prepare and the Trustee shall authenticate temporary Securities upon a Company Order.  Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers appropriate for temporary Securities.  Without unreasonable delay, the Company shall prepare and the Trustee upon request shall authenticate definitive Securities of the same Series and date of maturity in exchange for temporary Securities.  Until so exchanged, temporary securities shall have the same rights under this Indenture as the definitive Securities.

 

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Section 2.12.                          Cancellation.

 

The Company at any time may deliver Securities to the Trustee for cancellation.  The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment.  The Trustee shall cancel all Securities surrendered for transfer, exchange, payment, replacement or cancellation and dispose of such canceled Securities in its customary manner, including delivery of a certificate describing such Securities disposed, unless the Company directs in writing that the canceled Securities be returned to it.  The Company may not issue new Securities to replace Securities that it has paid or delivered to the Trustee for cancellation.

 

Section 2.13.                          Defaulted Interest.

 

If the Company defaults in a payment of interest on a Series of Securities, it shall pay the defaulted interest, plus, to the extent permitted by law, any interest payable on the defaulted interest, to the persons who are Securityholders of the Series on a subsequent special record date.  The Company shall fix the record date and payment date.  At least 10 days before the record date, the Company shall mail to the Trustee and to each Securityholder of the Series a notice that states the record date, the payment date and the amount of interest to be paid.  The Company may pay defaulted interest in any other lawful manner.

 

Section 2.14.                          Global Securities.

 

2.14.1.                                   Terms of Securities.  A Board Resolution, a supplemental indenture hereto or an Officers’ Certificate shall establish whether the Securities of a Series shall be issued in whole or in part in the form of one or more Global Securities and the Depository for such Global Security or Securities.

 

2.14.2.                                   Transfer and Exchange.  Notwithstanding any provisions to the contrary contained in Section 2.7 of the Indenture and in addition thereto, any Global Security shall be exchangeable pursuant to Section 2.7 of the Indenture for Securities registered in the names of Holders other than the Depository for such Security or its nominee only if (i) such Depository notifies the Company that it is unwilling or unable to continue as Depository for such Global Security or if at any time such Depository ceases to be a clearing agency registered under the Exchange Act, and, in either case, the Company fails to appoint a successor Depository registered as a clearing agency under the Exchange Act within 90 days of such event, (ii) the Company executes and delivers to the Trustee an Officers’ Certificate to the effect that such Global Security shall be so exchangeable or (iii) an Event of Default with respect to the Securities represented by such Global Security shall have happened and be continuing.  Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Securities registered in such names as the Depository shall direct in writing in an aggregate principal amount equal to the principal amount of the Global Security with like tenor and terms.

 

Except as provided in this Section 2.14.2, a Global Security may not be transferred except as a whole by the Depository with respect to such Global Security to a nominee of such Depository, by a nominee of such Depository to such Depository or another

 

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nominee of such Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.

 

2.14.3.                                   Legend.  Any Global Security issued hereunder shall bear a legend in substantially the following form:

 

“This Security is a Global Security within the meaning of the Indenture hereinafter referred to and is registered in the name of the Depository or a nominee of the Depository.  This Security is exchangeable for Securities registered in the name of a person other than the Depository or its nominee only in the limited circumstances described in the Indenture, and may not be transferred except as a whole by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such a successor Depository.”

 

2.14.4.                                   Acts of Holders.  The Depository, as a Holder, may appoint agents and otherwise authorize participants to give or take any request, demand, authorization, direction, notice, consent, waiver or other action which a Holder is entitled to give or take under the Indenture.

 

2.14.5.                                   Payments.  Notwithstanding the other provisions of this Indenture, unless otherwise specified as contemplated by Section 2.2, payment of the principal of and interest, if any, on any Global Security shall be made to the Holder thereof.

 

2.14.6.                                   Consents, Declaration and Directions.  Except as provided in Section 2.14.5, the Company, the Trustee and any Agent shall treat a person as the Holder of such principal amount of outstanding Securities of such Series represented by a Global Security as shall be specified in a written statement of the Depository with respect to such Global Security, for purposes of obtaining any consents, declarations, waivers or directions required to be given by the Holders pursuant to this Indenture.

 

Section 2.15.                          CUSIP Numbers.

 

The Company in issuing the Securities may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other elements of identification printed on the Securities, and any such redemption shall not be affected by any defect in or omission of such numbers.

 

ARTICLE III.
REDEMPTION

 

Section 3.1.                                 Notice to Trustee.

 

The Company may, with respect to any Series of Securities, reserve the right to redeem and pay the Series of Securities or may covenant to redeem and pay the Series of

 

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Securities or any part thereof prior to the Stated Maturity thereof at such time and on such terms as provided for in such Securities.  If a Series of Securities is redeemable and the Company wants or is obligated to redeem prior to the Stated Maturity thereof all or part of the Series of Securities pursuant to the terms of such Securities, it shall notify the Trustee of the redemption date and the principal amount of Series of Securities to be redeemed.  The Company shall give the notice at least 3 Business Days before the date of giving of the notice of redemption (or such shorter notice as may be acceptable to the Trustee).

 

Section 3.2.                                 Selection of Securities to be Redeemed or Repurchased.

 

Unless otherwise indicated for a particular Series by a Board Resolution, a supplemental indenture or an Officers’ Certificate, if less than all the Securities of a Series are to be redeemed or repurchased, the Trustee shall select the Securities of the Series to be redeemed or repurchased on a pro rata basis unless otherwise required by law or applicable stock exchange requirements.

 

In the event of partial redemption or purchase by lot, the Trustee shall make the selection from Securities of the Series outstanding not previously called for redemption or repurchase.  The Trustee may select for redemption or repurchase portions of the principal of Securities of the Series that have denominations larger than $2,000.  Securities of the Series and portions of them it selects shall be in amounts of $2,000 or whole multiples of $1,000 or, with respect to Securities of any Series issuable in other denominations pursuant to Section 2.2.10, the minimum principal denomination for each Series and integral multiples thereof.  Provisions of this Indenture that apply to Securities of a Series called for redemption or repurchase also apply to portions of Securities of that Series called for redemption or repurchase.

 

Section 3.3.                                 Notice of Redemption.

 

Unless otherwise indicated for a particular Series by Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, at least 30 days but not more than 60 days before a redemption date, the Company shall mail a notice of redemption by first-class mail to each Holder whose Securities are to be redeemed and if any Bearer Securities are outstanding, publish on one occasion a notice in an Authorized Newspaper, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Securities or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 10 hereof.

 

The notice shall identify the Securities of the Series to be redeemed and shall state:

 

(a)                                 the redemption date;

 

(b)                                 the redemption price;

 

(c)                                  the name and address of the Paying Agent;

 

(d)                                 that Securities of the Series called for redemption must be surrendered to the Paying Agent to collect the redemption price;

 

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(e)                                  that interest on Securities of the Series called for redemption ceases to accrue on and after the redemption date;

 

(f)                                   the CUSIP number, if any; and

 

(g)                                  any other information as may be required by the terms of the particular Series or the Securities of a Series being redeemed.

 

At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at its expense; provided however, that the Trustee is given at least 3 Business Days prior notice of the date of the giving of such notice (unless a shorter period shall be acceptable to the Trustee).

 

Section 3.4.                                 Effect of Notice of Redemption.

 

Once notice of redemption is mailed or published as provided in Section 3.3, Securities of a Series called for redemption become due and payable on the redemption date and at the redemption price provided, however, that any redemption or notice of any redemption may, at the Company’s discretion, be subject to one or more conditions precedent.  Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price plus accrued interest to the redemption date; provided that installments of interest whose Stated Maturity is on or prior to the redemption date shall be payable to the Holders of such Securities (or one or more predecessor Securities) registered at the close of business on the relevant record date therefor according to their terms and the terms of this Indenture.

 

Section 3.5.                                 Deposit of Redemption Price.

 

On or before the redemption date, the Company shall deposit with the Paying Agent money sufficient to pay the redemption price of and accrued interest, if any, on all Securities to be redeemed on that date.

 

Section 3.6.                                 Securities Redeemed in Part.

 

Upon surrender of a Security that is redeemed in part, the Trustee shall authenticate for the Holder a new Security of the same Series and the same maturity equal in principal amount to the unredeemed portion of the Security surrendered.

 

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ARTICLE IV.
COVENANTS

 

Section 4.1.                                 Payment of Principal and Interest.

 

The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will pay or cause to be paid the principal of, premium, if any, and interest on, the Securities of that Series on the dates and in the manner provided in such Securities.  Principal, premium, if any, and interest on any Series of Securities will be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due.

 

Section 4.2.                                 Maintenance of Office or Agency.

 

The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it will maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of the Trustee for such Securities or an affiliate of such Trustee, Registrar for such Securities or co-registrar) where such Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of such Securities and this Indenture may be served.  The Company will give prompt written notice to the Trustee for such Securities of the location, and any change in the location, of such office or agency.  If at any time the Company fails to maintain any such required office or agency or fails to furnish such Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of such Trustee.

 

The Company may also from time to time designate one or more other offices or agencies where Holders of a Series of Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes.  The Company will give prompt written notice to the Trustee for such Series of Securities of any such designation or rescission and of any change in the location of any such other office or agency.

 

With respect to each Series of Securities, the Company hereby designates the Corporate Trust Office of the Trustee for such Securities as one such office or agency of the Company in accordance with Section 2.5 hereof.

 

Section 4.3.                                 SEC Reports.

 

(a)                                 Whether or not required by the Comission’s rules and regulations, so long as any Series of Securities are outstanding, the Company will furnish to the Holders of such Securities and the Trustee with respect to such Series of Securities, within the time periods (including any extensions thereof) specified in the Commission’s rules and regulations:

 

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(1)                                 all quarterly and annual reports that would be required to be filed with the Commission on Forms 10-Q and 10-K if the Company were required to file reports; and

 

(2)                                 all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports.

 

All such reports will be prepared in all material respects in accordance with all of the rules and regulations applicable to such reports.  Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the Company’s independent registered public accounting firm.  In addition, the Company will file a copy of each of the reports referred to in clauses (1) and (2) above with the Commission for public availability within the time periods specified in the rules and regulations applicable to such reports (unless the SEC will not accept such a filing); provided, however, that the availability of the foregoing materials on SEC’s EDGAR service or on the Company’s website shall be deemed to satisfy the Company’s delivery obligations under this Section 4.3(a).

 

If the Company is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the Company will nevertheless continue filing the reports specified in the preceding paragraph with the Commission within the time periods specified above unless the Commission will not accept such a filing.  The Company will not take any action for the purpose of causing the Commission not to accept any such filings.  If, notwithstanding the foregoing, the Commission will not accept the Company’s filings for any reason, the Company will post the reports referred to in the preceding paragraph on its website within the time periods that would apply if the Company were required to file those reports with the Commission.

 

(b)                                 For so long as any Series of Securities remain outstanding, if at any time they are not required to file with the Commission the reports required by paragraphs (a) and (b) of this Section 4.3, the Company and any guarantors of such Securities will furnish to the Holders of such Securities and to securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

 

(c)                                  Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates).

 

Section 4.4.                                 Compliance Certificate.

 

(a)                                 The Company shall deliver to the Trustee with respect to such Series, within 120 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in

 

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this Indenture and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture (or, if a Default or Event of Default has occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of or interest, if any, on the Securities is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto.

 

(b)                                 So long as any of Series of Securities are outstanding, the Company will deliver to the Trustee with respect to such Series, forthwith upon any Officer becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto.

 

Section 4.5.                                 Taxes.

 

The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of such Securities.

 

Section 4.6.                                 Stay, Extension and Usury Laws.

 

The Company covenants and agrees (to the extent that it may lawfully do so), that it will not, and each guarantor of such Securities will not, at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of such guarantors (to the extent that it may lawfully do so), as applicable, hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee for such Securities, but will suffer and permit the execution of every such power as though no such law has been enacted.

 

Section 4.7.                                 Corporate Existence.

 

Subject to Article V hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect:

 

(1)                                 its corporate existence, and the corporate, partnership or other existence of each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and

 

(2)                                 the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries

 

provided, however, that the Company shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of

 

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the business of the Company and its Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of such Securities.

 

ARTICLE V.
SUCCESSORS

 

Section 5.1.                                 Merger, Consolidation, or Sale of Assets.

 

The Company covenants and agrees for the benefit of the Holders of each Series of Securities that it shall not, directly or indirectly: (i) consolidate or merge with or into another person (whether or not the Company is the surviving corporation); or (2) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole, in one or more related transactions, to another person, unless:

 

(1)                                 either:

 

(A)                               the Company is the surviving corporation; or

 

(B)                               the person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation, partnership or limited liability company organized or existing under the laws of the United States, any state of the United States or the District of Columbia; provided that if the Person is a partnership or limited liability company, then a corporation wholly-owned by such Person organized or existing under the laws of the United States, any state of the United States or the District of Columbia that does not and will not have any material assets or operations shall become a co-issuer of the Securities pursuant to a supplemental indenture duly executed by the Trustee;

 

(2)                                 the person formed by or surviving any such consolidation or merger (if other than the Company) or the person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under such Securities and this Indenture pursuant to agreements reasonably satisfactory to the Trustee for such Securities; and

 

(3)                                 immediately after such transaction, no Default or Event of Default exists.

 

In addition, the Company will not, directly or indirectly, lease all or substantially all of its properties or assets, in one or more related transactions, to any other person.  This Section 5.1 will not apply to:

 

(1)                                 a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another jurisdiction or forming a direct holding company of the Company; or

 

(2)                                 any sale, transfer, assignment, conveyance, lease or other disposition of assets between or among the Company and its Subsidiaries, including by way of merger or consolidation.

 

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Section 5.2.                                 Successor Corporation Substituted.

 

Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section 5.1 hereof, the successor person formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor person and not to the Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on any Series of Securities except in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.1 hereof.

 

ARTICLE VI.
DEFAULTS AND REMEDIES

 

Section 6.1.                                 Events of Default.

 

“Event of Default,” wherever used herein with respect to Securities of any Series, means any one of the following events, unless in the establishing Board Resolution, supplemental indenture or Officers’ Certificate, it is provided that such Series shall not have the benefit of said Event of Default:

 

(a)                                 default in the payment of any interest on any Security of that Series when it becomes due and payable, and continuance of such default for a period of 30 days; or

 

(b)                                 default in payment when due of the principal of, or premium, if any, on any Security of that Series; or

 

(c)                                  default in the deposit of any sinking fund payment, when and as due in respect of any Security of that Series; or

 

(d)                                 default in the performance or breach of any covenant or warranty of the Company in this Indenture (other than a covenant or warranty that has been included in this Indenture solely for the benefit of Series of Securities other than that Series), which default continues uncured for a period of 30 days after written notice given by the Trustees for such Securities or Holders of such Securities; or

 

(e)                                  default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Subsidiaries (or the payment of which is guaranteed by the Company or any of its Subsidiaries) whether such Indebtedness or guarantee now exists, or is created after the date of the indenture, if that default:

 

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(i)                                     is caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of such default (a “Payment Default”); or

 

(ii)                                  results in the acceleration of such Indebtedness prior to its express maturity,

 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $20.0 million or more;

 

(f)                                   failure by the Company or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of competent jurisdiction aggregating in excess of $20.0 million (net of any amount covered by insurance from an insurer that has not denied liability therefor), which judgments are not paid, discharged or stayed for a period of 60 days after their entry;

 

(g)                                  the Company pursuant to or within the meaning of any Bankruptcy Law:

 

(i)                                     commences a voluntary case,

 

(ii)                                  consents to the entry of an order for relief against it in an involuntary case,

 

(iii)                               consents to the appointment of a Custodian of it or for all or substantially all of its property,

 

(iv)                              makes a general assignment for the benefit of its creditors, or

 

(v)                                 generally is unable to pay its debts as the same become due; or

 

(h)                                 a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

(i)                                     is for relief against the Company in an involuntary case,

 

(ii)                                  appoints a Custodian of the Company or for all or substantially all of its property, or

 

(iii)                               orders the liquidation of the Company, and the order or decree remains unstayed and in effect for 60 days; or

 

(i)                                     any other Event of Default provided with respect to Securities of that Series, which is specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.2.18.

 

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The term “Bankruptcy Law” means title 11, U.S. Code or any similar Federal or State law for the relief of debtors.  The term “Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

 

Section 6.2.                                 Acceleration.

 

If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing (other than an Event of Default referred to in Section 6.1(g) or (h)) then in every such case the Trustee or the Holders of not less than 25% in principal amount of the outstanding Securities of that Series may declare the principal amount (or, if any Securities of that Series are Discount Securities, such portion of the principal amount as may be specified in the terms of such Securities) of and accrued and unpaid interest, if any, on all of the Securities of that Series to be due and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) and accrued and unpaid interest, if any, shall become immediately due and payable.  If an Event of Default specified in Section 6.1(g) or (h) shall occur, the principal amount (or specified amount) of and accrued and unpaid interest, if any, on all outstanding Securities shall ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder.

 

At any time after such a declaration of acceleration with respect to any Series has been made, the Holders of a majority in principal amount of the outstanding Securities of that Series, by written notice to the Company and the Trustee, may rescind and annul such declaration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium that has become due solely because of the acceleration) have been cured or waived.

 

No such rescission shall affect any subsequent Default or impair any right consequent thereon.

 

Section 6.3.                                 Other Remedies.

 

If an Event of Default with respect to Securities of any Series at the time outstanding occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium, if any, and interest on such Securities or to enforce the performance of any provision of such Securities or this Indenture.

 

The Trustee for such Securities may maintain a proceeding even if it does not possess any of such Securities or does not produce any of them in the proceeding.  A delay or omission by the Trustee or any Holder of Securities in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default.  All remedies are cumulative to the extent permitted by law.

 

Section 6.4.                                 Waiver of Past Defaults.

 

Holders of not less than a majority in aggregate principal amount of the then outstanding Securities of any Series by notice to the Trustee for such Securities may on behalf of

 

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the Holders of all of such Securities waive an existing Default or Event of Default with respect to such Securities and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium, if any, or interest on, such Securities (including in connection with an offer to purchase); provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Securities of any Series may rescind an acceleration of such Securities and its consequences, including any related payment default that resulted from such acceleration.  Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent thereon.

 

Section 6.5.                                 Control by Majority.

 

Holders of a majority in aggregate principal amount of the then outstanding Securities of any Series may direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee for such Securities or exercising any trust or power conferred on it.  However, the Trustee for any Series of Securities may refuse to follow any direction that conflicts with law or this Indenture that such Trustee determines may be unduly prejudicial to the rights of other Holders of such Securities or that may involve the Trustee in personal liability.

 

Section 6.6.                                 Limitation on Suits.

 

A Holder of any Series of Securities may pursue a remedy with respect to this Indenture or such Securities only if:

 

(1)                                                                                 such Holder gives to the Trustee for such Securities written notice that an Event of Default is continuing;

 

(2)                                                                                 Holders of at least 25% in aggregate principal amount of the then outstanding Securities of such Series make a written request to the Trustee for such Securities to pursue the remedy;

 

(3)                                                                                 such Holder or Holders offer and, if requested, provide to the Trustee for such Securities security or indemnity reasonably satisfactory to such Trustee against any loss, liability or expense;

 

(4)                                                                                 such Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and

 

(5)                                                                                 during such 60-day period, Holders of a majority in aggregate principal amount of the then outstanding Securities of such Series do not give such Trustee a direction inconsistent with such request.

 

A Holder of any Series of Securities may not use this Indenture to prejudice the rights of another Holder of such Series of Securities or to obtain a preference or priority over another Holder of a Securities of such Series.

 

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Section 6.7.                                 Rights of Holders of Securities to Receive Payment.

 

Notwithstanding any other provision of this Indenture, the right of any Holder of a Security of any Series to receive payment of principal, premium, if any, and interest on such Securities, on or after the respective due dates expressed in such Securities (including, if applicable, in connection with an offer to purchase), or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder.

 

Section 6.8.                                 Collection Suit by Trustee.

 

If an Event of Default specified in Section 6.1(a), (b) or (c) hereof with respect to Securities of any Series occurs and is continuing, the Trustee for such Securities is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest remaining unpaid on, such Securities and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel.

 

Section 6.9.                                 Trustee May File Proofs of Claim.

 

The Trustee for each Series of Securities is authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of such Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel) and the Holders of the Securities for which it acts as trustee allowed in any judicial proceedings relative to the Company (or any other obligor upon such Securities), its creditors or its property and shall be entitled and empowered to collect, receive and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder of such Securities to make such payments to such Trustee, and in the event that such Trustee shall consent to the making of such payments directly to such Holders, to pay to such Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee under the Indenture.  To the extent that the payment of any such compensation, expenses, disbursements and advances of such Trustee, its agents and counsel, and any other amounts due such Trustee out of the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that such Holders may be entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise.  Nothing herein contained shall be deemed to authorize such Trustee to authorize or consent to or accept or adopt on behalf of any Holder for which it acts as trustee any plan of reorganization, arrangement, adjustment or composition affecting the Securities or the rights of such Holder, or to authorize such Trustee to vote in respect of the claim of any such Holder in any such proceeding.

 

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Section 6.10.                          Priorities.

 

If the Trustee of any Series of Securities collects any money pursuant to this Article 6, it shall pay out the money in the following order:

 

First:                     to the Trustee, its agents and attorneys for amounts due under the Indenture, including payment of all reasonable compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;

 

Second: to Holders of such Securities for amounts due and unpaid on such Securities for principal, premium, if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on such Securities for principal, premium, if any and interest, respectively; and

 

Third:               to the Company or to such party as a court of competent jurisdiction shall direct.

 

The Trustee may fix a record date and payment date for any payment to Holders of Securities pursuant to this Section 6.10.

 

Section 6.11.                          Undertaking for Costs.

 

In any suit for the enforcement of any right or remedy under this Indenture or in any suit against any Trustee for any action taken or omitted by it as a trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant.  This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Security pursuant to Section 6.7 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Securities of any Series.

 

ARTICLE VII.
TRUSTEE

 

Section 7.1.                                 Duties of Trustee.

 

(a)                                 If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent man would exercise or use under the circumstances in the conduct of his own affairs.

 

(b)                                 Except during the continuance of an Event of Default:

 

(i)                                     The Trustee need perform only those duties that are specifically set forth in this Indenture and no others.

 

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(ii)                                  In the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon Officers’ Certificates or Opinions of Counsel furnished to the Trustee and conforming to the requirements of this Indenture; however, in the case of any such Officers’ Certificates or Opinions of Counsel which by any provisions hereof are specifically required to be furnished to the Trustee, the Trustee shall examine such Officers’ Certificates and Opinions of Counsel to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).

 

(c)                                  The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that:

 

(i)                                     This paragraph does not limit the effect of paragraph (b) of this Section.

 

(ii)                                  The Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts.

 

(iii)                               The Trustee shall not be liable with respect to any action taken, suffered or omitted to be taken by it with respect to Securities of any Series in good faith in accordance with the direction of the Holders of a majority in principal amount of the outstanding Securities of such Series relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture with respect to the Securities of such Series.

 

(d)                                 Every provision of this Indenture that in any way relates to the Trustee is subject to paragraph (a), (b) and (c) of this Section.

 

(e)                                  The Trustee may refuse to perform any duty or exercise any right or power at the request or direction of any Holder unless it receives indemnity satisfactory to it against any loss, liability or expense.

 

(f)                                   The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.  Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law.

 

(g)                                  No provision of this Indenture shall require the Trustee to risk its own funds or otherwise incur any financial liability in the performance of any of its duties, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk is not reasonably assured to it.

 

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(h)                                 The Paying Agent, the Registrar and any authenticating agent shall be entitled to the protections, immunities and standard of care as are set forth in paragraphs (a), (b) and (c) of this Section with respect to the Trustee.

 

Section 7.2.                                 Rights of Trustee.

 

(a)                                 The Trustee may conclusively rely on and shall be fully protected in acting or refraining from acting upon any document believed by it to be genuine and to have been signed or presented by the proper person.  The Trustee need not investigate any fact or matter stated in the document.

 

(b)                                 Before the Trustee acts or refrains from acting, it may require an Officers’ Certificate.  The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate.

 

(c)                                  The Trustee may act through agents, attorneys, custodians or nominees and shall not be responsible for the misconduct or negligence of any agent, attorney, custodian or nominee appointed with due care.  No Depository shall be deemed an agent, attorney, custodian or nominee of the Trustee and the Trustee shall not be responsible for any act or omission by any Depository.

 

(d)                                 The Trustee shall not be liable for any action it takes or omits to take in good faith which it believes to be authorized or within its rights or powers, provided that the Trustee’s conduct does not constitute negligence or bad faith.

 

(e)                                  The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon.

 

(f)                                   The Trustee will be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee indemnity or security satisfactory to it against the losses, liabilities and expenses that might be incurred by it in compliance with such request or direction.

 

(g)                                  The Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder without negligence and in good faith and in reliance thereon.

 

(h)                                 The Trustee shall not be bound to make any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Trustee, in its discretion, may make such further reasonable inquiry or investigation into such facts or matters as it may see fit at the expense of the Company.

 

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(i)                                     The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Securities generally or the Securities of a particular Series and this Indenture.

 

(j)                                    In no event shall the Trustee be liable for the selection of investments or for investment losses incurred thereon.  The Trustee shall have no liability in respect of losses incurred as a result of the liquidation of any investment prior to its stated maturity or failure to provide timely written direction.

 

(k)                                 in no event shall the Trustee be responsible or liable for special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action.

 

(l)                                     the rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder.

 

Section 7.3.                                 Individual Rights of Trustee.

 

The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or an Affiliate of the Company with the same rights it would have if it were not Trustee.  Any Agent may do the same with like rights.  The Trustee is also subject to Sections 7.10 and 7.11.

 

Section 7.4.                                 Trustee’s Disclaimer.

 

The Trustee makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from the Securities, and it shall not be responsible for any statement in the Securities other than its authentication.

 

Section 7.5.                                 Notice of Defaults.

 

If a Default or Event of Default occurs and is continuing with respect to the Securities of any Series and if it is known to a Responsible Officer of the Trustee, the Trustee shall mail to each Securityholder of the Securities of that Series and, if any Bearer Securities are outstanding, publish on one occasion in an Authorized Newspaper, notice of a Default or Event of Default within 90 days after it occurs or, if later, after a Responsible Officer of the Trustee has knowledge of such Default or Event of Default.  Except in the case of a Default or Event of Default in payment of principal of or interest on any Security of any Series, the Trustee may withhold the notice if and so long as its corporate trust committee or a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of Securityholders of that Series.

 

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Section 7.6.                                 Reports by Trustee to Holders.

 

Within 60 days after May 15 in each year, the Trustee shall transmit by mail to all Securityholders, as their names and addresses appear on the register kept by the Registrar and, if any Bearer Securities are outstanding, publish in an Authorized Newspaper, a brief report dated as of such May 15, in accordance with, and to the extent required under, TIA § 313.

 

A copy of each report at the time of its mailing to Securityholders of any Series shall be filed with the SEC and each stock exchange on which the Securities of that Series are listed.  The Company shall promptly notify the Trustee when Securities of any Series are listed on any stock exchange.

 

Section 7.7.                                 Compensation and Indemnity.

 

The Company shall pay to the Trustee from time to time reasonable compensation for its services as the Company and the Trustee shall from time to time agree upon in writing.  The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust.  The Company shall reimburse the Trustee upon request for all reasonable and documented out-of-pocket expenses incurred by it; provided, however, that the Company need not reimburse any expense or indemnity against any loss or liability determined to have been caused by the Trustee’s own negligence or willful misconduct.  Such expenses shall include the reasonable compensation and expenses of the Trustee’s agents and counsel.

 

The Company shall indemnify each of the Trustee and any predecessor Trustee (including the cost of defending itself) against any loss, liability or expense, including taxes (other than taxes based upon, measured by or determined by the income of the Trustee) incurred by it except as set forth in the paragraph above in the performance of its duties under this Indenture as Trustee or Agent.  The Trustee shall notify the Company promptly of any claim of which it has received written notice for which it may seek indemnity.  The Company shall defend the claim and the Trustee shall cooperate in the defense.  The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel.  The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld.  This indemnification shall apply to officers, directors, employees, shareholders and agents of the Trustee.

 

To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities of any Series on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities of that Series.

 

When the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.1(g) or (h) occurs, the expenses and the compensation for the services are intended to constitute expenses of administration under any Bankruptcy Law.

 

The provisions of this Section shall survive the termination of this Indenture.

 

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Section 7.8.                                 Replacement of Trustee.

 

A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section.

 

The Trustee may resign with respect to the Securities of one or more Series by so notifying the Company at least 30 days prior to the date of the proposed resignation.  The Holders of a majority in principal amount of the Securities of any Series may remove the Trustee with respect to that Series by so notifying the Trustee and the Company.  The Company may remove the Trustee with respect to Securities of one or more Series if:

 

(a)                                 the Trustee fails to comply with Section 7.10;

 

(b)                                 the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;

 

(c)                                  a Custodian or public officer takes charge of the Trustee or its property; or

 

(d)                                 the Trustee becomes incapable of acting.

 

If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company shall promptly appoint a successor Trustee.  Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Securities may appoint a successor Trustee to replace the successor Trustee appointed by the Company.

 

If a successor Trustee with respect to the Securities of any one or more Series does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee (at the expense of the Company), the Company or the Holders of at least 10% in principal amount of the Securities of the applicable Series may petition any court of competent jurisdiction for the appointment of a successor Trustee.

 

A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Company.  Immediately after that, the retiring Trustee, upon payment of its charges hereunder, shall transfer all property held by it as Trustee to the successor Trustee subject to the lien provided for in Section 7.7, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee with respect to each Series of Securities for which it is acting as Trustee under this Indenture.  A successor Trustee shall mail a notice of its succession to each Securityholder of each such Series and, if any Bearer Securities are outstanding, publish such notice on one occasion in an Authorized Newspaper.  Notwithstanding replacement of the Trustee pursuant to this Section 7.8, the Company’s obligations under Section 7.7 hereof shall continue for the benefit of the retiring Trustee with respect to expenses and liabilities incurred by it prior to such replacement.

 

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Section 7.9.                                 Successor Trustee by Merger, etc.

 

If the Trustee consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation, the successor corporation without any further act shall be the successor Trustee.

 

Section 7.10.                          Eligibility; Disqualification.

 

This Indenture shall always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5).  The Trustee shall always have a combined capital and surplus of at least $25,000,000 as set forth in its most recent published annual report of condition.  The Trustee shall comply with TIA § 310(b).

 

Section 7.11.                          Preferential Collection of Claims Against Company.

 

The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b).  A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated.

 

ARTICLE VIII.
LEGAL DEFEASANCE AND COVENANT DEFEASANCE

 

Section 8.1.                                 Option to Effect Legal Defeasance or Covenant Defeasance.

 

The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate, elect to have either Section 8.2 or 8.3 hereof be applied to all outstanding Securities of any Series upon compliance with the conditions set forth below in this Article 8.

 

Section 8.2.                                 Legal Defeasance and Discharge.

 

Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.2, the Company and each guarantor, if any, of such Securities will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be deemed to have been discharged from its or their obligations with respect to all outstanding Securities of such Series (including the related guarantees, if any) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”).  For this purpose, Legal Defeasance means that the Company and such guarantors, if any, will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Securities of such Series (including the related guarantees, if any), which will thereafter be deemed to be “outstanding” only for the purposes of Section 8.5 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all its or their other obligations under such Securities, such guarantees, if any, and this Indenture (and the Trustee for such Securities, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder:

 

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(1)                                 the rights of Holders of outstanding Securities of such Series to receive payments in respect of the principal of, or interest or premium, if any, on, such Securities when such payments are due from the trust referred to in Section 8.4 hereof;

 

(2)                                 the Company’s obligations with respect to such Securities under Article 2 and Section 4.2 hereof;

 

(3)                                 the rights, powers, trusts, duties and immunities of the Trustee for such Securities hereunder and the Company’s and the guarantors’, if any, obligations in connection therewith; and

 

(4)                                 this Article 8.

 

Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.2 notwithstanding the prior exercise of its option under Section 8.3 hereof.

 

Section 8.3.                                 Covenant Defeasance.

 

Upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3, the Company and each of the guarantors, if any, will, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, be released from each of their or its obligations under the covenants specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate, in accordance with Section 2.2.18, with respect to the outstanding Securities of the applicable Series on and after the date the conditions set forth in Section 8.4 hereof are satisfied (hereinafter, “Covenant Defeasance”), and such Securities will thereafter be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders of such Securities (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding” for all other purposes hereunder (it being understood that such Securities will not be deemed outstanding for accounting purposes).  For this purpose, Covenant Defeasance means that, with respect to the outstanding Securities of such Series, the Company may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.1 hereof, but, except as specified above, the remainder of this Indenture and such Securities will be unaffected thereby.  In addition, upon the Company’s exercise under Section 8.1 hereof of the option applicable to this Section 8.3, subject to the satisfaction of the conditions set forth in Section 8.4 hereof, Sections 6.1(d) through (f) hereof will not constitute Events of Default.

 

Section 8.4.                                 Conditions to Legal or Covenant Defeasance.

 

In order to exercise either Legal Defeasance or Covenant Defeasance under either Section 8.2 or 8.3 hereof with respect to Securities of any Series:

 

(1)                                 the Company must irrevocably deposit with the Trustee for such Securities, in trust, for the benefit of the Holders of such Securities, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient,

 

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in the opinion of a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, premium, if any, and interest on, the outstanding Securities of such Series on the stated date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether such Securities are being defeased to such stated date for payment or to a particular redemption date;

 

(2)                                 in the case of an election under Section 8.2 hereof, the Company must deliver to the Trustee for such Securities an Opinion of Counsel (subject to customary assumptions and exceptions) confirming that:

 

(A)                               the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or

 

(B)                               since the date of this Indenture, there has been a change in the applicable federal income tax law,

 

in either case to the effect that, and based thereon such Opinion of Counsel (subject to customary assumptions and exceptions) shall confirm that, the Holders of the outstanding Securities of such Series will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

 

(3)                                 in the case of an election under Section 8.3 hereof, the Company must deliver to the Trustee for such Securities an Opinion of Counsel (subject to customary assumptions and exceptions) confirming that the Holders of such Securities will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

 

(4)                                 no Default or Event of Default with respect to such Securities shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit);

 

(5)                                 such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound;

 

(6)                                 the Company must deliver to the Trustee for such Securities an Officers’ Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders of such Securities over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and

 

(7)                                 the Company must deliver to the Trustee for such Securities an Officers’ Certificate and an Opinion of Counsel (subject to customary assumptions and exceptions), each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

 

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Section 8.5.                                 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions.

 

Subject to Section 8.6 hereof, all money and non-callable Government Securities (including the proceeds thereof) deposited with a Trustee (or other qualifying trustee, collectively for purposes of this Section 8.5, the “Trustee”) pursuant to Section 8.4 hereof in respect of the outstanding Securities of any Series will be held in trust and applied by the Trustee, in accordance with the provisions of such Securities and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine, to the Holders of such Securities of all sums due and to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law.

 

The Company will pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.4 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Securities of the applicable Series.

 

Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 8.4 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee (which may be the opinion delivered under Section 8.4(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 

Section 8.6.                                 Repayment to Company.

 

Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium, if any, or interest on, any Series of Securities and remaining unclaimed for two years after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) will be discharged from such trust; and the Holders of such Securities will thereafter be permitted to look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in the New York Times and The Wall Street Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining will be repaid to the Company.

 

Section 8.7.                                 Reinstatement.

 

If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with Section 8.2 or 8.3 hereof, as the case may be, by

 

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reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s and any applicable guarantors’ obligations under this Indenture and the applicable Securities and the guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.2 or 8.3 hereof until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section 8.2 or 8.3 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium, if any, or interest on, any such Securities following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Securities to receive such payment from the money held by the Trustee or Paying Agent.

 

ARTICLE IX.
AMENDMENTS AND WAIVERS

 

Section 9.1.                                 Without Consent of Holders.

 

Notwithstanding Section 9.2 of this Indenture, the Company and the Trustee may amend, modify or supplement this Indenture or the Securities of one or more Series without the consent of any Securityholder:

 

(a)                                 to cure any ambiguity, omission, defect or inconsistency;

 

(b)                                 to provide for uncertificated Securities in addition to or in place of certificated Securities;

 

(c)                                  to provide for the assumption of the Company’s obligations to the Holders of the Securities by a successor to the Company pursuant to Article 5 hereof;

 

(d)                                 to make any change that would provide any additional rights or benefits to the Holders of Securities or that does not adversely affect the legal rights hereunder of any Securityholder;

 

(e)                                  to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the TIA

 

(f)                                   to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by this Indenture; or

 

(g)                                  to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Securities of one or more Series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee.

 

Upon the request of the Company, and upon receipt by the Trustee of the documents described in Section 7.2 hereof, the Trustee will join with the Company in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise.

 

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Section 9.2.                                 With Consent of Holders.

 

The Company and the Trustee may enter into a supplemental indenture with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by such supplemental indenture (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series), for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Indenture or of any supplemental indenture or of modifying in any manner the rights of the Securityholders of each such Series.  Except as provided in Section 6.4, the Holders of at least a majority in principal amount of the outstanding Securities of each Series by notice to the Trustee (including consents obtained in connection with a tender offer or exchange offer for the Securities of such Series) may waive compliance by the Company with any provision of this Indenture or the Securities with respect to such Series.

 

It shall not be necessary for the consent of the Holders of Securities under this Section 9.2 to approve the particular form of any proposed supplemental indenture or waiver, but it shall be sufficient if such consent approves the substance thereof.  Upon the request of the Company, and upon the filing with the Trustee of evidence satisfactory to the Trustee of the consent of the Holders of Securities as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.2 hereof, the Trustee will join with the Company in the execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its discretion, but will not be obligated to, enter into such amended or supplemental Indenture.

 

After a supplemental indenture or waiver under this section becomes effective, the Company shall mail to the Holders of Securities affected thereby and, if any Bearer Securities affected thereby are outstanding, publish on one occasion in an Authorized Newspaper, a notice briefly describing the supplemental indenture or waiver.  Any failure by the Company to mail or publish such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 

Section 9.3.                                 Limitations.

 

Without the consent of each Securityholder affected, an amendment or waiver may not (with respect to any Securities held by a non-consenting Holder):

 

(a)                                 change the amount of Securities whose Holders must consent to an amendment, supplement or waiver;

 

(b)                                 reduce the rate of or extend the time for payment of interest (including default interest) on any Security;

 

(c)                                  reduce the principal or change the Stated Maturity of any Security or reduce the amount of, or postpone the date fixed for, the payment of any sinking fund or analogous obligation;

 

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(d)                                 reduce the principal amount of Discount Securities payable upon acceleration of the maturity thereof;

 

(e)                                  waive a Default or Event of Default in the payment of the principal of or interest, if any, on any Security (except a rescission of acceleration of the Securities of any Series by the Holders of at least a majority in principal amount of the outstanding Securities of such Series and a waiver of the payment default that resulted from such acceleration);

 

(f)                                   make the principal of or interest, if any, on any Security payable in any currency other than that stated in the Security;

 

(g)                                  make any change in Sections 6.4, 6.7, 9.3 (this sentence), 11.15, or 11.16; or

 

(h)                                 waive a redemption payment with respect to any Security or change any of the provisions with respect to the redemption of any Securities, except as specifically set forth in the Board Resolution, supplemental indenture hereto or Officers’ Certificate delivered pursuant to Section 2.2.

 

Section 9.4.                                 Compliance with Trust Indenture Act.

 

Every amendment to this Indenture or the Securities of one or more Series shall be set forth in a supplemental indenture hereto that complies with the TIA as then in effect.

 

Section 9.5.                                 Revocation and Effect of Consents.

 

Until an amendment or waiver becomes effective, a consent to it by a Holder of a Security is a continuing consent by the Holder and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on any Security.  However, any such Holder or subsequent Holder may revoke the consent as to his Security or portion of a Security if the Trustee receives the notice of revocation before the date the amendment or waiver becomes effective.

 

Any amendment or waiver once effective shall bind every Securityholder of each Series affected by such amendment or waiver unless it is of the type described in any of clauses (a) through (h) of Section 9.3.  In that case, the amendment or waiver shall bind each Holder of a Security who has consented to it and every subsequent Holder of a Security or portion of a Security that evidences the same debt as the consenting Holder’s Security.

 

Section 9.6.                                 Notation on or Exchange of Securities.

 

The Trustee may place an appropriate notation about an amendment or waiver on any Security of any Series thereafter authenticated.  The Company in exchange for Securities of that Series may issue and the Trustee shall authenticate upon request new Securities of that Series that reflect the amendment or waiver.

 

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Section 9.7.                                 Trustee Protected.

 

In executing, or accepting the additional trusts created by, any supplemental indenture permitted by this Article or the modifications thereby of the trusts created by this Indenture, the Trustee shall be provided with, and (subject to Section 7.1) shall be fully protected in relying upon, an Opinion of Counsel stating that the execution of such supplemental indenture is authorized or permitted by this Indenture.  The Trustee shall sign all supplemental indentures, except that the Trustee need not sign any supplemental indenture that adversely affects its rights.

 

ARTICLE X.
SATISFACTION AND DISCHARGE

 

Section 10.1.                          Satisfaction and Discharge.

 

This Indenture will be discharged and will cease to be of further effect as to a Series of Securities issued hereunder, when:

 

(a)                                 either:

 

(i)             all such Securities that have been authenticated, except lost, stolen or destroyed Securities that have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or

 

(ii)          all such Securities that have not been delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders of such Securities, cash in U.S. dollars, non-callable Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on such Securities not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of maturity or redemption;

 

(b)                                 no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit) and the deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which the Company or any guarantor, as applicable, of such Securities is a party or by which the Company or any such guarantor, as applicable, is bound;

 

(c)                                  the Company or any guarantor of such Securities has paid or caused to be paid all sums payable by it under this Indenture; and

 

(d)                                 the Company has delivered irrevocable instructions to the Trustee for such Securities under this Indenture to apply the deposited money toward the payment of such Securities at maturity or on the redemption date, as the case may be.

 

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In addition, the Company must deliver an Officers’ Certificate and an Opinion of Counsel (subject to customary assumptions and exceptions) to the Trustee for such Securities stating that all conditions precedent to satisfaction and discharge have been satisfied.

 

Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause (b) of this Section 10.1, the provisions of Sections 10.2 and 8.6 hereof will survive.  In addition, nothing in this Section 10.1 will be deemed to discharge those provisions of Section 7.7 hereof, that, by their terms, survive the satisfaction and discharge of this Indenture.

 

Upon satisfaction of the conditions set forth herein and upon written request of the Company, the Trustee shall acknowledge in writing the satisfaction and discharge of this Indenture.

 

Section 10.2.                          Application of Trust Money.

 

Subject to the provisions of Section 8.6 hereof, all money deposited with a Trustee pursuant to Section 10.1 hereof shall be held in trust and applied by it, in accordance with the provisions of the Securities with respect to which such deposit was made and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as such Trustee may determine, to the persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with such Trustee; but such money need not be segregated from other funds except to the extent required by law.

 

If such Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with Section 10.1 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any applicable guarantor’s obligations under this Indenture and the applicable Securities shall be revived and reinstated as though no deposit had occurred pursuant to Section 10.1 hereof; provided that if the Company has made any payment of principal of, premium, if any, or interest on, any Securities because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Securities to receive such payment from the money or Government Securities held by the Trustee or Paying Agent.

 

Notwithstanding anything in this Article X to the contrary, the Trustee will deliver or pay to the Company from time to time upon the request of the Company any money or non-callable Government Securities held by it as provided in Section 10.1 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect a discharge in accordance with this Article X.

 

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ARTICLE XI.
MISCELLANEOUS

 

Section 11.1.                          Trust Indenture Act Controls.

 

If any provision of this Indenture limits, qualifies, or conflicts with another provision which is required or deemed to be included in this Indenture by the TIA, such required or deemed provision shall control.

 

Section 11.2.                          Notices.

 

Any notice or communication by the Company or the Trustee to the other, or by a Holder to the Company or the Trustee, is duly given if in writing and delivered in person or mailed by first-class mail:

 

 

if to the Company:

 

 

B&G Foods, Inc.

 

Four Gatehall Drive, Suite 110

 

Parsippany, NJ 07054

 

Attention: General Counsel

 

Telephone: (973) 401-6500

 

Facsimile: (973) 630-6550

 

 

if to the Trustee:

 

 

[Address]

 

Attention: Corporate Trust Administration

 

Telephone:

 

Facsimile:

 

The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 

Any notice or communication to a Securityholder shall be mailed by first-class mail to his address shown on the register kept by the Registrar and, if any Bearer Securities are outstanding, published in an Authorized Newspaper.  Failure to mail a notice or communication to a Securityholder of any Series or any defect in it shall not affect its sufficiency with respect to other Securityholders of that or any other Series.

 

If a notice or communication is mailed or published in the manner provided above, within the time prescribed, it is duly given, whether or not the Securityholder receives it.

 

If the Company mails a notice or communication to Securityholders, it shall mail a copy to the Trustee and each Agent at the same time.

 

The Trustee agrees to accept and act upon instructions or directions pursuant to this Indenture sent by unsecured e-mail, pdf, facsimile transmission or other similar unsecured electronic methods.  If the Company elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such

 

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instructions conflict or are inconsistent with a subsequent written instruction. The Company agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception and misuse by third parties.

 

Section 11.3.                          Communication by Holders with Other Holders.

 

Securityholders of any Series may communicate pursuant to TIA § 312(b) with other Securityholders of that Series or any other Series with respect to their rights under this Indenture or the Securities of that Series or all Series.  The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c).

 

Section 11.4.                          Certificate and Opinion as to Conditions Precedent.

 

Upon any request or application by the Company to the Trustee to take any action under this Indenture, the Company shall furnish to the Trustee:

 

(a)                                 an Officers’ Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and

 

(b)                                 an Opinion of Counsel stating that, in the opinion of such counsel, all such conditions precedent have been complied with,

 

provided that an issuer of an Opinion of Counsel may rely as to matter of fact on an Officers’ Certificate or a certificate of a public official.

 

Section 11.5.                          Statements Required in Certificate or Opinion.

 

Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) shall comply with the provisions of TIA § 314(e) and shall include:

 

(a)                                 a statement that the person making such certificate or opinion has read such covenant or condition;

 

(b)                                 a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based;

 

(c)                                  a statement that, in the opinion of such person, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and

 

(d)                                 a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with.

 

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Section 11.6.                          Rules by Trustee and Agents.

 

The Trustee may make reasonable rules for action by or a meeting of Securityholders of one or more Series.  Any Agent may make reasonable rules and set reasonable requirements for its functions.

 

Section 11.7.                          Legal Holidays.

 

Unless otherwise provided by Board Resolution, Officers’ Certificate or supplemental indenture hereto for a particular Series, a “Legal Holiday” is any day that is not a Business Day.  If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period.

 

Section 11.8.                          No Recourse Against Others.

 

A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of such obligations or their creation.  Each Securityholder by accepting a Security waives and releases all such liability.  The waiver and release are part of the consideration for the issue of the Securities.

 

Section 11.9.                          Counterparts.

 

This Indenture may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Indenture by facsimile, .pdf attachment, email or other electronic means shall be effective as delivery of a manually executed counterpart of this Indenture.

 

Section 11.10.                   Governing Laws.

 

THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE SECURITIES AND ANY GUARANTEES OF THE SECURITIES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

Section 11.11.                   No Adverse Interpretation of Other Agreements.

 

This Indenture may not be used to interpret another indenture, loan or debt agreement of the Company or a Subsidiary of the Company.  Any such indenture, loan or debt agreement may not be used to interpret this Indenture.

 

Section 11.12.                   Successors.

 

All agreements of the Company in this Indenture and the Securities shall bind its successor.  All agreements of the Trustee in this Indenture shall bind its successor.

 

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Section 11.13.                   Severability.

 

In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 11.14.                   Table of Contents, Headings, Etc.

 

The Table of Contents, Cross-Reference Table, and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part hereof, and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 11.15.                   Securities in a Foreign Currency or in ECU.

 

Unless otherwise specified in a Board Resolution, a supplemental indenture hereto or an Officers’ Certificate delivered pursuant to Section 2.2 of this Indenture with respect to a particular Series of Securities, whenever for purposes of this Indenture any action may be taken by the Holders of a specified percentage in aggregate principal amount of Securities of all Series or all Series affected by a particular action at the time outstanding and, at such time, there are outstanding Securities of any Series which are denominated in a coin or currency other than Dollars (including ECUs), then the principal amount of Securities of such Series which shall be deemed to be outstanding for the purpose of taking such action shall be that amount of Dollars that could be obtained for such amount at the Market Exchange Rate at such time.  For purposes of this Section 10.15, “Market Exchange Rate” shall mean the noon Dollar buying rate in New York City for cable transfers of that currency as published by the Federal Reserve Bank of New York; provided, however, in the case of ECUs, Market Exchange Rate shall mean the rate of exchange determined by the Commission of the European Union (or any successor thereto) as published in the Official Journal of the European Union (such publication or any successor publication, the “Journal”).  If such Market Exchange Rate is not available for any reason with respect to such currency, the Trustee shall use, in its sole discretion and without liability on its part, such quotation of the Federal Reserve Bank of New York or, in the case of ECUs, the rate of exchange as published in the Journal, as of the most recent available date, or quotations or, in the case of ECUs, rates of exchange from one or more major banks in The City of New York or in the country of issue of the currency in question or, in the case of ECUs, in Luxembourg or such other quotations or, in the case of ECUs, rates of exchange as the Trustee, upon consultation with the Company, shall deem appropriate.  The provisions of this paragraph shall apply in determining the equivalent principal amount in respect of Securities of a Series denominated in currency other than Dollars in connection with any action taken by Holders of Securities pursuant to the terms of this Indenture.

 

All decisions and determinations of the Trustee regarding the Market Exchange Rate or any alternative determination provided for in the preceding paragraph shall be in its sole discretion and shall, in the absence of manifest error, to the extent permitted by law, be conclusive for all purposes and irrevocably binding upon the Company and all Holders.

 

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Section 11.16.                   Judgment Currency.

 

The Company agrees, to the fullest extent that it may effectively do so under applicable law, that (a) if for the purpose of obtaining judgment in any court it is necessary to convert the sum due in respect of the principal of or interest or other amount on the Securities of any Series (the “Required Currency”) into a currency in which a judgment will be rendered (the “Judgment Currency”), the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the day on which final unappealable judgment is entered, unless such day is not a New York Banking Day, then, the rate of exchange used shall be the rate at which in accordance with normal banking procedures the Trustee could purchase in The City of New York the Required Currency with the Judgment Currency on the New York Banking Day preceding the day on which final unappealable judgment is entered and (b) its obligations under this Indenture to make payments in the Required Currency (i) shall not be discharged or satisfied by any tender, any recovery pursuant to any judgment (whether or not entered in accordance with subsection (a)), in any currency other than the Required Currency, except to the extent that such tender or recovery shall result in the actual receipt, by the payee, of the full amount of the Required Currency expressed to be payable in respect of such payments, (ii) shall be enforceable as an alternative or additional cause of action for the purpose of recovering in the Required Currency the amount, if any, by which such actual receipt shall fall short of the full amount of the Required Currency so expressed to be payable, and (iii) shall not be affected by judgment being obtained for any other sum due under this Indenture.  For purposes of the foregoing, “New York Banking Day” means any day except a Saturday, Sunday or a legal holiday in The City of New York on which banking institutions are authorized or required by law, regulation or executive order to close.

 

Section 11.17.                   Waiver of Jury Trial.

 

EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY.

 

Section 11.18.                   Force Majeure.

 

In no event shall the Trustee be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances.

 

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ARTICLE XII.
SINKING FUNDS

 

Section 12.1.                          Applicability of Article.

 

The provisions of this Article shall be applicable to any sinking fund for the retirement of the Securities of a Series, except as otherwise permitted or required by any form of Security of such Series issued pursuant to this Indenture.

 

The minimum amount of any sinking fund payment provided for by the terms of the Securities of any Series is herein referred to as a “mandatory sinking fund payment” and any other amount provided for by the terms of Securities of such Series is herein referred to as an “optional sinking fund payment.”  If provided for by the terms of Securities of any Series, the cash amount of any sinking fund payment may be subject to reduction as provided in Section 12.2.  Each sinking fund payment shall be applied to the redemption of Securities of any Series as provided for by the terms of the Securities of such Series.

 

Section 12.2.                          Satisfaction of Sinking Fund Payments with Securities.

 

The Company may, in satisfaction of all or any part of any sinking fund payment with respect to the Securities of any Series to be made pursuant to the terms of such Securities (1) deliver outstanding Securities of such Series to which such sinking fund payment is applicable (other than any of such Securities previously called for mandatory sinking fund redemption) and (2) apply as credit Securities of such Series to which such sinking fund payment is applicable and which have been repurchased by the Company or redeemed either at the election of the Company pursuant to the terms of such Series of Securities (except pursuant to any mandatory sinking fund) or through the application of permitted optional sinking fund payments or other optional redemptions pursuant to the terms of such Securities, provided that such Securities have not been previously so credited.  Such Securities shall be received by the Trustee, together with an Officers’ Certificate with respect thereto, not later than 15 days prior to the date on which the Trustee begins the process of selecting Securities for redemption, and shall be credited for such purpose by the Trustee at the price specified in such Securities for redemption through operation of the sinking fund and the amount of such sinking fund payment shall be reduced accordingly.  If as a result of the delivery or credit of Securities in lieu of cash payments pursuant to this Section 12.2, the principal amount of Securities of such Series to be redeemed in order to exhaust the aforesaid cash payment shall be less than $100,000, the Trustee need not call Securities of such Series for redemption, except upon receipt of a Company Order that such action be taken, and such cash payment shall be held by the Trustee or a Paying Agent and applied to the next succeeding sinking fund payment, provided, however, that the Trustee or such Paying Agent shall from time to time upon receipt of a Company Order pay over and deliver to the Company any cash payment so being held by the Trustee or such Paying Agent upon delivery by the Company to the Trustee of Securities of that Series purchased by the Company having an unpaid principal amount equal to the cash payment required to be released to the Company.

 

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Section 12.3.                          Redemption of Securities for Sinking Fund.

 

Not less than 45 days (unless otherwise indicated in the Board Resolution, supplemental indenture or Officers’ Certificate in respect of a particular Series of Securities) prior to each sinking fund payment date for any Series of Securities, the Company will deliver to the Trustee an Officers’ Certificate specifying the amount of the next ensuing mandatory sinking fund payment for that Series pursuant to the terms of that Series, the portion thereof, if any, which is to be satisfied by payment of cash and the portion thereof, if any, which is to be satisfied by delivering and crediting of Securities of that Series pursuant to Section 12.2, and the optional amount, if any, to be added in cash to the next ensuing mandatory sinking fund payment, and the Company shall thereupon be obligated to pay the amount therein specified.  Not less than 30 days (unless otherwise indicated in the Board Resolution, Officers’ Certificate or supplemental indenture in respect of a particular Series of Securities) before each such sinking fund payment date the Trustee shall select the Securities to be redeemed upon such sinking fund payment date in the manner specified in Section 3.2 and cause notice of the redemption thereof to be given in the name of and at the expense of the Company in the manner provided in Section 3.3.  Such notice having been duly given, the redemption of such Securities shall be made upon the terms and in the manner stated in Sections 3.4, 3.5 and 3.6.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed, all as of the day and year first above written.

 

 

B&G Foods, Inc.

 

 

 

 

 

By:

 

 

 

Name:

 

 

Its:

 



 

 

[Name of Trustee]

 

 

 

 

 

By:

 

 

 

Name:

 

 

Its:

 




Exhibit 5.1

 

GRAPHIC

Cira Centre
2929 Arch Street
Philadelphia, PA 19104-2808
+1 215 994 4000 Main
+1 215 994 2222 Fax
www.dechert.com

 

August 8, 2016

 

B&G Foods, Inc.
Four Gatehall Drive, Suite 110
Parsippany, New Jersey 07054

 

Re:                             Registration Statement on Form S-3

 

Gentlemen and Ladies:

 

We have acted as special counsel to B&G Foods, Inc., a Delaware corporation (the “Company”), and the subsidiary guarantors listed on Schedule A hereto (each, a “Subsidiary Guarantor”) in connection with the preparation and filing of a Registration Statement on Form S-3 (the “Registration Statement”) filed today with the U.S. Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), relating to the proposed offerings from time to time of the following securities of the Company and the Subsidiary Guarantors: (1) shares of common stock, par value $0.01 per share, of the Company (“Common Stock”), (2) shares of preferred stock, par value $0.01 per share, of the Company (“Preferred Stock”), (3) debt securities, which may be senior or subordinated to other obligations of the Company and which may be in one or more series (collectively, “Debt Securities”), to be issued pursuant to an indenture between the Company and a trustee to be named therein (the “Trustee”) (such indenture, as may be amended or supplemented from time to time, the “Indenture”), (4) guarantees, if any, of the Debt Securities by the Subsidiary Guarantors (the “Guarantees”), (5) warrants to purchase debt or equity securities of the Company (“Warrants”), and (6) units consisting of any combination of one or more of the securities registered pursuant to the Registration Statement (“Units”).  The Common Stock, Preferred Stock, Debt Securities, Guarantees, Warrants and Units are collectively referred to herein as the “Securities.”

 

The Registration Statement provides that the Securities may be offered separately or together, in separate series, in amounts, at prices and on terms to be set forth in one or more supplements to the prospectus included in the Registration Statement (each, a “Prospectus Supplement”).  This opinion letter is being furnished to the Company in accordance with the requirements of Item 601(b)(5) under Regulation S-K of the Securities Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, other than as to the validity of the Securities as set forth below.

 

As such counsel, we have made such legal and factual examination and inquiry as we have deemed necessary for the rendering of this opinion.  With your consent, we have relied upon certificates and other assurances of officers of the Company as to factual matters without having independently verified such factual matters.  In making our examination we have assumed the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to all authentic original documents submitted to us as copies, the legal capacity of

 



 

natural persons who are signatories to the documents examined by us, and the legal power and authority of all persons signing on behalf of the parties to all documents (other than the Company and its subsidiaries).

 

On the basis of the foregoing and subject to the assumptions, qualifications and limitations set forth in this letter, we are of the opinion that:

 

1.                                      The Common Stock, when (a) duly issued and sold in accordance with the Registration Statement and applicable Prospectus Supplement, or upon conversion or exchange of Debt Securities or Preferred Stock or upon exercise of Warrants as contemplated by the Registration Statement and applicable Prospectus Supplement, and (b) delivered to the purchaser or purchasers thereof against receipt by the Company of such lawful consideration therefor as the Board of Directors (or a duly authorized committee thereof) may determine and at a price per share not less than the per share par value of the Common Stock, will be validly issued, fully paid and non-assessable.

 

2.                                      The Preferred Stock, when (a) duly issued and sold in accordance with the Registration Statement and applicable Prospectus Supplement, upon conversion or exchange of Debt Securities or upon exercise of Warrants as contemplated by the Registration Statement and applicable Prospectus Supplement, and (b) delivered to the purchaser or purchasers thereof against receipt by the Company of such lawful consideration therefor as the Board of Directors (or a duly authorized committee thereof) may determine and at a price per share not less than the per share par value of the Preferred Stock, will be validly issued, fully paid and non-assessable.

 

3.                                      The Debt Securities, when (a) duly executed by the Company and authenticated by the applicable Trustee in accordance with the provisions of the applicable Indenture and issued and sold (x) in accordance with the Registration Statement and applicable Prospectus Supplement or (y) upon conversion or exchange of Preferred Stock or upon exercise of Warrants as contemplated by the Registration Statement and applicable Prospectus Supplement, and (b) delivered to the purchaser or purchasers thereof against receipt by the Company of such lawful consideration therefor as the Board of Directors (or a duly authorized committee thereof) may determine, will be valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms.

 

4.                                      The Guarantees, when (a) duly executed by the Subsidiary Guarantors and issued and sold (x) in accordance with the Registration Statement and applicable Prospectus Supplement or (y) upon conversion or exchange of Preferred Stock or upon exercise of Warrants as contemplated by the Registration Statement and applicable Prospectus Supplement, and (b) delivered to the purchaser or purchasers thereof against receipt by the applicable Subsidiary Guarantors of such lawful consideration therefor as their respective Board of Directors or Board of Trustees, as applicable (or a duly authorized committee thereof), may determine, will be valid and binding obligations of the applicable Subsidiary Guarantors

 

2



 

enforceable against the applicable Subsidiary Guarantors in accordance with their respective terms.

 

5.                                      The Warrants, when (a) duly executed, authenticated, issued and sold in accordance with the Registration Statement and applicable Prospectus Supplement and the provisions of an applicable, valid and binding warrant agreement and (b) delivered to the purchaser or purchasers thereof against receipt by the Company of such lawful consideration therefor as the Board of Directors (or a duly authorized committee thereof) may determine, will be valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms.

 

6.                                      The Units, when (a) duly executed, authenticated, issued and sold in accordance with the Registration Statement and applicable Prospectus Supplement and the provisions of any applicable and valid and binding unit agreement, and (b) delivered to the purchaser or purchasers thereof against receipt by the Company of such lawful consideration therefor as the Board of Directors (or a duly authorized committee thereof) may determine, will be valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms.

 

The opinions set forth herein are subject to the following assumptions, qualifications, limitations and exceptions being true and correct at or before the time of the delivery of any Securities offered pursuant to the Registration Statement and appropriate Prospectus Supplement: (i) the Board of Directors of the Company and the respective Board of Directors or Board of Trustees, as applicable, of the Subsidiary Guarantors, including any appropriate committee appointed thereby (collectively, the “Boards”), shall have (x) duly established the terms of the Securities (and in the case of the Units, the Securities that are the components thereof), and (y) duly authorized and taken any other necessary corporate or other action to approve the creation, if applicable, issuance and sale of the Securities and related matters (including with respect to Preferred Stock, the execution, acknowledgment and filing of a Certificate of Designation stating the designation and voting rights, preferences, limitations and special rights, if any, of any such Preferred Stock in accordance with the applicable provisions of the General Corporation Law of the State of Delaware) and any Securities consisting of Common Stock or Preferred Stock, and any Common Stock or Preferred Stock for or into which any other Securities are exercisable, exchangeable or convertible, shall have been duly reserved for issuance and such authorizations and actions have not been rescinded; (ii) the resolutions establishing the definitive terms of and authorizing the Company and the Subsidiary Guarantors to register, offer, sell and issue the Securities shall remain in effect and unchanged at all times during which the Securities are offered, sold or issued by the Company or the Subsidiary Guarantors; (iii) the definitive terms of each class and series of the Securities not presently provided for in the Registration Statement or the certificates of incorporation or organization, bylaws and other similar formation documents of the Company and the Subsidiary Guarantors (collectively, the “Formation Documents”), and the terms of the issuance and sale of the Securities (x) shall have been duly established in accordance with all applicable law and the Formation Documents, any Indenture, underwriting agreement, warrant agreement, unit agreement and any other relevant agreement relating to the terms and the offer and sale of the Securities (collectively, the “Agreements”) and the

 

3



 

authorizing resolutions of the Boards, and reflected in appropriate documentation reviewed by us, and (y) shall not violate any applicable law, the Formation Documents or the Agreements (subject to the further assumption that such Formation Documents and Agreements have not been amended from the date hereof in a manner that would affect the validity of any of the opinions rendered herein), or result in a default under or breach of any agreement or instrument binding upon the Company or any applicable Subsidiary Guarantor and so as to comply with any restriction imposed by any court or governmental body having jurisdiction over the Company or any applicable Subsidiary Guarantor; (iv) upon issuance of any shares of Preferred Stock or Common Stock, or, in the case of Units, of which shares of Preferred Stock or Common Stock are components, including upon exercise, conversion or exchange of Securities, the total number of shares of Preferred Stock or Common Stock issued and outstanding shall not exceed the total number of shares of Preferred Stock or Common Stock that the Company is then authorized to issue under its Second Amended and Restated Certificate of Incorporation; (v) the interest rate on the Debt Securities shall not be higher than the maximum lawful rate permitted from time to time under applicable law; (vi) the Securities (including any Securities issuable upon exercise, conversion or exchange of other Securities and, in the case of any Units, the Securities that are components thereof), and any certificates or instruments representing the relevant Securities (including any Securities issuable upon exercise, conversion or exchange of other Securities and, in the case of any Units, the Securities that are components thereof), have been duly authenticated, executed, countersigned, registered and delivered upon payment of the agreed-upon legal consideration therefor and have been duly issued and sold in accordance with any relevant agreement, approved by us and, if applicable, duly executed and delivered by the Company, any applicable Subsidiary Guarantor and any other appropriate party; (vii) each Indenture, warrant agreement, unit agreement and any other relevant agreement has been duly authorized, executed and delivered by, and will constitute a valid and binding obligation of, each party thereto (other than the Company and any applicable Subsidiary Guarantors); (viii) the Registration Statement, as amended (including all necessary post-effective amendments), and any additional registration statement filed under Rule 462, shall be effective under the Securities Act, and such effectiveness shall not have been terminated or rescinded; (ix) an appropriate Prospectus Supplement shall have been prepared, delivered and filed in compliance with the Securities Act and the applicable rules and regulations thereunder describing the Securities offered thereby; (x) the Securities shall be issued and sold in compliance with all federal and state securities laws and solely in the manner stated in the Registration Statement and the applicable Prospectus Supplement and there shall not have occurred any change in law affecting the validity of the opinions rendered herein; (xi) if the Securities will be sold pursuant to a firm commitment underwritten offering, the underwriting agreement with respect to the Securities in the form filed as an exhibit to the Registration Statement or any post-effective amendment thereto, or incorporated by reference therein, has been duly authorized, executed and delivered by the Company, any applicable Subsidiary Guarantor and the other parties thereto; (xii) the Indenture shall have been duly qualified under the Trust Indenture Act of 1939, as amended; (xiii) each agreement or contract referred to herein but not filed as an exhibit to the Registration Statement as of the date hereof shall be governed by the laws of the State of New York; and (xiv) in the case of an agreement or instrument pursuant to which any Securities are to be issued, there shall be no terms or provisions contained therein which would affect the validity of any of the opinions rendered herein.

 

4



 

Any opinion set forth herein as to enforceability of obligations of the Company or any Subsidiary Guarantor is subject to: (i) bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or similar laws now or hereinafter in effect affecting the enforcement of creditors’ rights generally, and by general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and the discretion of the court or other body before which any proceeding may be brought; (ii) provisions of law that may require that a judgment for money damages rendered by a court in the United States be expressed only in United States dollars; (iii) requirements that a claim with respect to any Debt Securities denominated other than in U.S. dollars (or a judgment denominated other than in U.S. dollars in respect of such claim) be converted into U.S. dollars at a rate of exchange prevailing on a date determined pursuant to applicable law; and (iv) governmental authority to limit, delay or prohibit the making of payments outside the United States or in foreign currency or composite currency.

 

We express no opinion as to the validity, legally binding effect or enforceability of any provision in any agreement or instrument that (i) requires or relates to payment of any interest at a rate or in an amount that a court would determine in the circumstances under applicable law to be commercially unreasonable or a penalty or forfeiture or (ii) relates to governing law and submission by the parties to the jurisdiction of one or more particular courts.

 

We are members of the bar of the State of New York, and the foregoing opinions are limited to the laws of the State of New York and the General Corporation Law of the State of Delaware.

 

This opinion letter has been prepared for your use solely in connection with the Registration Statement.  We assume no obligation to advise you of any changes in the foregoing subsequent to the effectiveness of the Registration Statement.

 

We hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the use of our name in the prospectus contained therein, under the caption “Legal Matters.”  In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Securities Act and the rules and regulations of the Commission thereunder.

 

Very truly yours,

 

/s/ Dechert LLP

 

5



 

Schedule A

 

Subsidiary Guarantors

 

B&G Foods North America, Inc.

 

B&G Foods Snacks, Inc.

 

Bear Creek Country Kitchens, LLC

 

Pirate Brands, LLC

 

Spartan Foods Holding Company

 

Spartan Foods of America, Inc.

 

William Underwood Company

 




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Exhibit 12.1

B&G Foods, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

 
  Twenty-Six
Weeks Ended
July 2, 2016
  Year Ended
Jan. 2, 2016
  Year Ended
Jan. 3, 2015
  Year Ended
Dec. 28, 2013
  Year Ended
Dec. 29, 2012
  Year Ended
Dec. 31, 2011
 

Income before income tax expense

  $ 101,834   $ 121,239   $ 63,777   $ 80,892   $ 90,914   $ 76,804  

Add:

                                     

Fixed charges

    39,001     53,811     49,000     43,947     49,486     38,523  

Income as adjusted

        $ 175,050   $ 112,777   $ 124,839   $ 140,400   $ 115,327  

Fixed charges:

                                     

Interest expense (excluding unrealized gain or loss on interest rate swap)

    37,561   $ 51,131   $ 46,573   $ 41,813   $ 47,660   $ 36,675  

Portion of rents representative of the interest factor

    1,440     2,680     2,427     2,134     1,826     1,848  

Fixed charges

    39,001   $ 53,811   $ 49,000   $ 43,947   $ 49,486   $ 38,523  

Ratio of earnings to fixed charges

    3.6x     3.3x     2.3x     2.8x     2.8x     3.0x  



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B&G Foods, Inc. Computation of Ratio of Earnings to Fixed Charges (In thousands, except ratios)

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Exhibit 23.2

Consent of Independent Registered Public Accounting Firm

The Board of Directors
B&G Foods, Inc.:

        We consent to the use of our reports dated March 2, 2016, with respect to the consolidated balance sheets of B&G Foods, Inc. and subsidiaries as of January 2, 2016 and January 3, 2015 and the related consolidated statements of operations, comprehensive income, changes in stockholders' equity and cash flows for the fiscal years ended January 2, 2016, January 3, 2015 and December 28, 2013, and the related financial statement schedule, and the effectiveness of internal control over financial reporting as of January 2, 2016, which reports appear in the January 2, 2016 annual report on Form 10-K of B&G Foods, Inc., incorporated herein by reference and to the reference to our firm under the heading "Experts" in the prospectus.

        Our report dated March 2, 2016, on the effectiveness of B&G Foods, Inc.'s internal control over financial reporting as of January 2, 2016, contains an explanatory paragraph that states that management excluded from its assessment of the effectiveness of B&G Foods, Inc.'s internal control over financial reporting as of January 2, 2016, Green Giant's internal control over financial reporting representing 33.0% of total assets and 11.0% of net sales included in the consolidated financial statements of B&G Foods, Inc. and subsidiaries as of and for the fiscal year ended January 2, 2016. Our audit of internal control over financial reporting of B&G Foods, Inc. also excluded an evaluation of the internal control over financial reporting of the Green Giant business.

/s/ KPMG LLP

Short Hills, New Jersey
August 8, 2016




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Consent of Independent Registered Public Accounting Firm

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Exhibit 23.3

Consent of Independent Auditors

        We consent to the incorporation by reference in this Registration Statement of our report dated December 30, 2015, with respect to the statements of net assets to be sold of the General Mills Green Giant business as of May 31, 2015 and May 25, 2014 and the related statements of revenue and direct operating expenses for the fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013, which report appears in the Current Report on Form 8-K/A of B&G Foods, Inc. filed on January 19, 2016.

/s/ KPMG LLP

Minneapolis, Minnesota
August 8, 2016




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