JPMorgan - KASE

JPMorgan - KASE JPMorgan - KASE

18.03.2014 Views

and the transferor first delivers to the Trustee a written certificate (in the form provided in the Indenture) to the effect that the Notes are being transferred to a person who the transferor reasonably believes to be a QIB within the meaning of Rule 144A, purchasing for its own account or the account of a QIB in a transaction meeting the requirements of Rule 144A and in accordance with all applicable securities laws of the states of the United States and other jurisdictions. Beneficial interests in the Rule 144A Global Note may be transferred to a person who takes delivery in the form of an interest in the Regulation S Global Note, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first delivers to the Trustee a written certificate (in the form provided in the Indenture) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 under the Securities Act (if applicable). When book-entry interests in Notes are to be transferred from the account of a DTC participant holding a beneficial interest in the Rule 144A Global Note to the account of a Euroclear or Clearstream, Luxembourg accountholder wishing to purchase a beneficial interest in the Regulation S Global Note (subject to such certification procedures as are described under “Transfer Restrictions”), the DTC participant will deliver instructions for delivery to the relevant Euroclear or Clearstream, Luxembourg accountholder to DTC by 12 noon, New York time, on the settlement date. Separate payment arrangements are required to be made between the DTC participant and the relevant Euroclear or Clearstream, Luxembourg accountholder, as the case may be. On the settlement date, the Custodian will instruct the Registrar to (i) decrease the amount of Notes registered in the name of Cede & Co. and evidenced by the Rule 144A Global Note and (ii) increase the amount of Notes registered in the name of the relevant nominee for the common depositary for Euroclear and Clearstream, Luxembourg and evidenced by the Regulation S Global Note. Book-entry interests will be delivered free of payment to Euroclear or Clearstream, Luxembourg, as the case may be, for credit to the relevant accountholder on the first business day following the settlement date. When book-entry interests in Notes are to be transferred from the account of a Euroclear or Clearstream, Luxembourg accountholder holding a beneficial interest in the Regulation S Global Note to the account of a DTC participant wishing to purchase a beneficial interest in the 144A Global Note (subject to such certification procedures as are described under “Transfer Restrictions”), the Euroclear or Clearstream, Luxembourg accountholder must send to Euroclear or Clearstream, Luxembourg delivery free of payment instructions by 7:45 p.m., Brussels or Luxembourg time, one business day prior to the settlement date. Euroclear or Clearstream, Luxembourg, as the case may be, will in turn transmit appropriate instructions to the common depositary for Euroclear and Clearstream, Luxembourg and the Registrar to arrange delivery to the DTC participant on the settlement date. Separate payment arrangements are required to be made between the DTC participant and the relevant Euroclear or Clearstream, Luxembourg accountholder, as the case may be. On the settlement date, the common depositary for Euroclear and Clearstream, Luxembourg will (i) transmit appropriate instructions to the Custodian who will in turn deliver such book-entry interests in the Notes free of payment to the relevant account of the DTC participant and (ii) instruct the Registrar to (a) decrease the amount of Notes registered in the name of a nominee for the common depositary for Euroclear and Clearstream, Luxembourg and evidenced by the Regulation S Global Note and (b) increase the amount of Notes registered in the name of Cede & Co. and evidenced by the Rule 144A Global Note. Although the foregoing sets out the procedures of DTC, Euroclear and Clearstream, Luxembourg in order to facilitate the transfers of interests in the Notes among the participants of DTC, Euroclear and Clearstream, Luxembourg, none of DTC, Euroclear or Clearstream, Luxembourg is under any obligation to perform or continue to perform such procedures, and such procedures may be discontinued at any time. Neither the Issuer nor the Trustee, nor any agent of either of them, will have any responsibility for the performance by DTC, Euroclear or Clearstream, 124

Luxembourg or their respective direct or indirect participants or accountholders of their respective obligations under the rules and procedures governing their operations or for the sufficiency for any purpose of the arrangements described above. Same-Day Settlement and Payment The Notes represented by the Rule 144A Global Note will be eligible to trade in DTC’s Same Day Funds Settlement System, and any permitted secondary market trading activity in such Notes will, therefore, be required by DTC to be settled in immediately available funds. The Issuer expects that secondary trading in any Definitive Notes would also be settled in immediately available funds. Replacement, Transfer and Exchange If any Note at any time is mutilated, destroyed, stolen or lost, such Note may be replaced at the cost of the applicant at the office of the Trustee or the office of the Registrar. The applicant for a new Note must, in the case of any mutilated Note, surrender such Note to the Trustee or the Registrar, as applicable, and, in the case of any lost, destroyed or stolen Note, furnish evidence satisfactory to the Trustee or the Registrar, as applicable, of such loss, destruction or theft, together with such indemnity as the Trustee or the Registrar, as applicable, and the Issuer may require. A Holder may transfer or exchange Notes in accordance with the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Issuer may require a Holder to pay any transfer tax or similar governmental charge required by law. The Issuer and the Registrar are not required to transfer or exchange any Note selected for redemption. Transfers of Notes in definitive form may be made at the office of the Luxembourg Sub-Paying and Transfer Agent. Notices Any notice or communication to a Holder of Notes shall be mailed by first class mail, certified or registered, return receipt requested, or delivered by overnight air courier guaranteeing next day delivery, in each case to its address shown on the register kept by the Registrar. In addition, for so long as the Notes are listed on the Luxembourg Stock Exchange and its rules so require, any such notice or communication (including, without limitation, any notice of redemption) to Holders shall be published in a newspaper having general circulation in Luxembourg, which newspaper may be the Luxemburger Wort, or if such newspaper ceases to be published or timely publication in it will not be practicable, in such other newspaper as the Trustee deems necessary to give fair and reasonable notice to the Noteholders. Governing Law; Consent to Jurisdiction and Service; Arbitration The Indenture and the Notes will be governed by and construed in accordance with the laws of the State of New York. The Indenture will provide that the Issuer and each Guarantor will appoint CT Corporation as its agent for service of process in any suit, action or proceeding with respect to the Indenture, the Notes and the Guarantees and for any actions brought under U.S. federal or state securities laws brought in any U.S. federal or state court located in The City of New York and submit to such jurisdiction. As of the date hereof, however, a judgment obtained in any U.S. federal or state court located in The City of New York against a Guarantor would not be enforceable against such Guarantor in Kazakhstan, as Kazakhstan is not party to any applicable treaty with the United States relating to the enforcement of foreign judgments. Accordingly, the Indenture will provide that, at the option of any Holder, any dispute or difference of whatever nature however arising under, out of or in connection with the Indenture, the Notes and/or the Guarantees held by such Holder 125

and the transferor first delivers to the Trustee a written certificate (in the form provided in the<br />

Indenture) to the effect that the Notes are being transferred to a person who the transferor<br />

reasonably believes to be a QIB within the meaning of Rule 144A, purchasing for its own account<br />

or the account of a QIB in a transaction meeting the requirements of Rule 144A and in<br />

accordance with all applicable securities laws of the states of the United States and other<br />

jurisdictions.<br />

Beneficial interests in the Rule 144A Global Note may be transferred to a person who takes<br />

delivery in the form of an interest in the Regulation S Global Note, whether before or after the<br />

expiration of the Distribution Compliance Period, only if the transferor first delivers to the<br />

Trustee a written certificate (in the form provided in the Indenture) to the effect that such<br />

transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 under the<br />

Securities Act (if applicable).<br />

When book-entry interests in Notes are to be transferred from the account of a DTC participant<br />

holding a beneficial interest in the Rule 144A Global Note to the account of a Euroclear or<br />

Clearstream, Luxembourg accountholder wishing to purchase a beneficial interest in the<br />

Regulation S Global Note (subject to such certification procedures as are described under<br />

“Transfer Restrictions”), the DTC participant will deliver instructions for delivery to the relevant<br />

Euroclear or Clearstream, Luxembourg accountholder to DTC by 12 noon, New York time, on the<br />

settlement date. Separate payment arrangements are required to be made between the DTC<br />

participant and the relevant Euroclear or Clearstream, Luxembourg accountholder, as the case<br />

may be. On the settlement date, the Custodian will instruct the Registrar to (i) decrease the<br />

amount of Notes registered in the name of Cede & Co. and evidenced by the Rule 144A Global<br />

Note and (ii) increase the amount of Notes registered in the name of the relevant nominee for<br />

the common depositary for Euroclear and Clearstream, Luxembourg and evidenced by the<br />

Regulation S Global Note. Book-entry interests will be delivered free of payment to Euroclear or<br />

Clearstream, Luxembourg, as the case may be, for credit to the relevant accountholder on the<br />

first business day following the settlement date.<br />

When book-entry interests in Notes are to be transferred from the account of a Euroclear or<br />

Clearstream, Luxembourg accountholder holding a beneficial interest in the Regulation S Global<br />

Note to the account of a DTC participant wishing to purchase a beneficial interest in the 144A<br />

Global Note (subject to such certification procedures as are described under “Transfer<br />

Restrictions”), the Euroclear or Clearstream, Luxembourg accountholder must send to Euroclear<br />

or Clearstream, Luxembourg delivery free of payment instructions by 7:45 p.m., Brussels or<br />

Luxembourg time, one business day prior to the settlement date. Euroclear or Clearstream,<br />

Luxembourg, as the case may be, will in turn transmit appropriate instructions to the common<br />

depositary for Euroclear and Clearstream, Luxembourg and the Registrar to arrange delivery to<br />

the DTC participant on the settlement date. Separate payment arrangements are required to be<br />

made between the DTC participant and the relevant Euroclear or Clearstream, Luxembourg<br />

accountholder, as the case may be. On the settlement date, the common depositary for Euroclear<br />

and Clearstream, Luxembourg will (i) transmit appropriate instructions to the Custodian who will<br />

in turn deliver such book-entry interests in the Notes free of payment to the relevant account of<br />

the DTC participant and (ii) instruct the Registrar to (a) decrease the amount of Notes registered<br />

in the name of a nominee for the common depositary for Euroclear and Clearstream,<br />

Luxembourg and evidenced by the Regulation S Global Note and (b) increase the amount of<br />

Notes registered in the name of Cede & Co. and evidenced by the Rule 144A Global Note.<br />

Although the foregoing sets out the procedures of DTC, Euroclear and Clearstream, Luxembourg<br />

in order to facilitate the transfers of interests in the Notes among the participants of DTC,<br />

Euroclear and Clearstream, Luxembourg, none of DTC, Euroclear or Clearstream, Luxembourg is<br />

under any obligation to perform or continue to perform such procedures, and such procedures<br />

may be discontinued at any time. Neither the Issuer nor the Trustee, nor any agent of either of<br />

them, will have any responsibility for the performance by DTC, Euroclear or Clearstream,<br />

124

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