GUARANTEE by ABBOTT LABORATORIES in favor of U.S. BANK NATIONAL ASSOCIATION, as Trustee for the Holders of the Securities Specified Below of ABBVIE INC. 1.200% Senior Notes due 2015 1.750% Senior Notes due 2017 2.000% Senior Notes due 2018 2.900% Senior Notes due 2022 4.400% Senior Notes due 2042 Floating Rate Senior Notes due 2015 November 8, 2012

EX-4.3 4 a12-27185_1ex4d3.htm EX-4.3

Exhibit 4.3

 

EXECUTION VERSION

 

GUARANTEE

 

by

 

ABBOTT LABORATORIES

 

in favor of

 

U.S. BANK NATIONAL ASSOCIATION,

 

as Trustee for the Holders of the Securities Specified Below of

 

ABBVIE INC.

 

1.200% Senior Notes due 2015
1.750% Senior Notes due 2017

2.000% Senior Notes due 2018
2.900% Senior Notes due 2022
4.400% Senior Notes due 2042

Floating Rate Senior Notes due 2015

 

November 8, 2012

 



 

GUARANTEE, dated as of November 8, 2012 (as amended from time to time, this “Guarantee”), made by Abbott Laboratories, an Illinois corporation (the “Guarantor”), in favor of (a) the Holders (as defined in the Indenture (as defined below)) of (i) 1.200% Senior Notes due 2015, (ii) 1.750% Senior Notes due 2017, (iii) 2.000% Senior Notes due 2018, (iv) 2.900% Senior Notes due 2022, (v) 4.400% Senior Notes due 2042 and (vi) Floating Rate Senior Notes due 2015 (collectively, the “Securities”), each of AbbVie Inc., a Delaware corporation (the “Issuer”), and (b) U.S. Bank National Association (the “Trustee”), as trustee under the Indenture with respect to the Securities.

 

WITNESSETH:

 

Section 1.                                          Guarantee.  The Guarantor hereby unconditionally guarantees to the Holders from time to time of the Securities and to the Trustee the full and punctual payment when due, whether at stated maturity, by acceleration or otherwise, of the principal of, premium, if any, on and interest on each series of Securities (the “Obligations”), according to the terms of the Securities and as set forth in the Indenture dated as of the date hereof (as amended, modified or otherwise supplemented from time to time with applicability to the Securities, the “Indenture”), between the Issuer and the Trustee, in each case subject to any applicable grace period or notice requirement or both.  The guarantee hereunder constitutes a guarantee of payment and not of collection.

 

Section 2.                                          Guarantee Absolute.  The Guarantor guarantees that the Obligations will be paid strictly in accordance with the terms of the Indenture and the Securities, regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of Holders of the Securities with respect thereto.  The liability of the Guarantor under this Guarantee shall be absolute and unconditional irrespective of:

 

(a)                                 any lack of validity or enforceability of the Indenture, the Securities or any other agreement or instrument relating thereto;

 

(b)                                 any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Indenture; or any other circumstance which might otherwise constitute a defense available to, or a discharge of, the Issuer or a guarantor (other than a defense of payment in full and other than as set forth in Section 3 hereof).

 

(c)                                  The obligation of the Guarantor to make any payment hereunder may be satisfied by causing the Issuer to make such payment.

 

Section 3.                                          Termination of Guarantee.

 

(a)                                 This Guarantee shall terminate and be released, and the obligations of the Guarantor under this Guarantee shall cease to exist, with respect to a particular series of Securities, upon payment in full of the Obligations with respect to such series of Securities.

 

(b)                                 Unless earlier terminated and released pursuant to Section 3(a), this Guarantee shall automatically and unconditionally terminate and be released, and all obligations of the Guarantor under this Guarantee shall automatically cease to exist, without any

 



 

further action from the Trustee, any Holder of Securities or any other person, upon the earliest to occur of (i) the distribution by the Guarantor to its shareholders of 100% of the outstanding shares of the Issuer’s common stock (with cash in lieu of any fractional shares) (the “Distribution”) or (ii) with respect to any series of Securities, the consummation of a satisfaction and discharge, a legal defeasance or a covenant defeasance relating to such series of Securities in accordance with the provisions of the Indenture or otherwise in accordance with the provisions of the Indenture.  The Trustee and each Holder of the Securities shall be deemed to consent to such termination and release, without any action on the part of the Trustee or any Holder of the Securities or any other person, upon the Distribution, satisfaction and discharge, legal defeasance, or covenant defeasance, as applicable.

 

Section 4.                                          Waiver; Subrogation.

 

(a)                                 The Guarantor hereby waives notice of acceptance of this Guarantee, diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Issuer, any right to require a proceeding filed first against the Issuer, protest or notice with respect to the Securities or the indebtedness evidenced thereby and all demands whatsoever.

 

(b)                                 The Guarantor shall be subrogated to all rights of the Trustee or the Holders of any Securities against the Issuer in respect of any amounts paid to the Trustee or such Holder by the Guarantor pursuant to the provisions of this Guarantee; provided, however, that the Guarantor shall not be entitled to enforce, or to receive any payments arising out of, or based upon, such right of subrogation until all Obligations shall have been paid in full.

 

Section 5.                                          No Waiver; Remedies.  No failure on the part of the Trustee or any Holder of any series of Securities to exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.  The remedies herein provided are cumulative and not exclusive of any remedies provided by law.

 

Section 6.                                          Transfer of Interest.  This Guarantee shall be binding upon the Guarantor, its successors and assigns, and shall inure to the benefit of and be enforceable by any Holder of Securities, the Trustee, and by their respective successors, transferees and assigns, pursuant to the terms hereof.  This Guarantee shall not be deemed to create any right in, or to be in whole or in part for the benefit of, any other person.

 

Section 7.                                          Amendment.

 

(a)                                 The Guarantor and the Trustee may amend this Guarantee at any time for any purpose without the consent of any Holder of Securities of any series; provided, however, that if such amendment adversely affects the rights of the Holders of any series of Securities in any material respect, the prior written consent of each Holder of each affected series of Securities shall be required.

 

(b)                                 No amendment or modification in respect of this Guarantee will be effective unless in writing and executed by each of the parties hereto.

 

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(c)                                  The Trustee shall be entitled to receive and fully rely upon an Officers’ Certificate (as defined in the Indenture) as to whether or not the Holders of Securities would be adversely affected in any material respect by any amendment to the Guarantee and any such determination shall be conclusive upon the Holders of all Securities, whether theretofore or thereafter authenticated and delivered.  The Trustee shall not be obligated to enter into any amendment which adversely affects in any material respect the Trustee’s own rights, duties or immunities under the Guarantee in a manner which is not reasonably acceptable to the Trustee.

 

Section 8.                                          Governing Law.  THIS GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

Section 9.                                          No Recourse Against Others.  A director, officer, employee, stockholder, partner or other owner of the Guarantor, as such, shall not have any liability for any obligations of the Guarantor under this Guarantee or for any claim based on, in respect of or by reason of such obligations or their creation.

 

Section 10.                                   Reports by Guarantor.

 

(a)                                 The Guarantor shall file with the Trustee and the Securities and Exchange Commission (the “Commission”), and transmit to Holders, such information, documents and other reports, and such summaries thereof, as may be required pursuant to the TIA at the times and in the manner provided pursuant to the TIA; provided that any such information, documents or reports required to be filed with the Commission pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), shall be filed with the Trustee within 15 days after the same is so filed with the Commission.

 

(b)                                 If the Guarantor is not subject to the requirements of Section 13 or 15(d) of the Exchange Act, the Guarantor shall furnish to all Holders of the Securities, for so long as such Securities constitute “restricted securities” under Rule 144 of the Securities Act of 1933, as amended (the “Securities Act”), and prospective purchasers of such Securities designated by the Holders thereof, promptly upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) promulgated under the Securities Act.

 

Section 11.                                   Separability.  In case any provision in this Guarantee shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the fullest extent permitted by law.

 

Section 12.                                   HeadingsThe section headings of this Guarantee have been inserted for convenience of reference only, are not to be considered a part of this Guarantee and shall in no way modify or restrict any of the terms or provisions hereof.

 

Section 13.                                   Notices, Etc., to the Guarantor.  Any request, demand, authorization, direction, notice, consent, waiver or Act (as defined in the Indenture) of Holders or other document provided or permitted by this Guarantee to be made upon, given or furnished to, or filed with, the Guarantor by the Trustee or by any Holder shall be sufficient for every purpose hereunder (unless otherwise herein expressly provided) if in writing and mailed, first-class

 

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postage prepaid, to the Guarantor addressed to the address last furnished in writing to the Trustee by the Guarantor, or, if no such address has been furnished, to Treasurer, Abbott Laboratories, 100 Abbott Park Road, Abbott Park, Illinois  60064-6400.

 

Section 13.                                   Rights of the Trustee.  The Trustee shall have no duties under this Guarantee other than those expressly set forth herein, and in entering into or in taking (or forbearing from) any action under or pursuant to the Guarantee, the Trustee shall have and be protected by all of the rights, powers, immunities, indemnities and other protections granted to it under the Indenture.

 

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IN WITNESS WHEREOF, the Guarantor has caused this Guarantee to be duly executed and delivered by its officer thereunto duly authorized as of the date first above written.

 

 

ABBOTT LABORATORIES

 

 

 

 

 

By:

/s/ Valentine Yien

 

 

Name: Valentine Yien

 

 

Title: Vice President, Treasurer

 

Agreed and Accepted:

 

U.S. BANK NATIONAL ASSOCIATION

as Trustee under the Indenture

 

 

By:

/s/ Grace A. Gorka

 

 

Name: Grace A. Gorka

 

 

Title: Vice President