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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cardinal Health Inc | NYSE:CAH | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.60 | -0.58% | 103.21 | 103.94 | 102.93 | 103.20 | 1,399,264 | 00:49:00 |
Ohio
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31-0958666
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(State or other jurisdiction of incorporation or organization)
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(I.R.S. Employer Identification Number)
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Andrew L. Fabens
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Gibson, Dunn & Crutcher LLP
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200 Park Avenue
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New York, New York 10166
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(212) 351-4000
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Large accelerated filer
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☒
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Accelerated filer
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☐
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Non-accelerated filer
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☐
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Smaller reporting company
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☐
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Emerging growth company
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☐
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Title of each class of securities to be registered
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Amount to be registered (1)
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Proposed maximum offering price per unit (1)
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Proposed maximum aggregate offering price (1)
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Amount of registration fee (1)
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Class A Common Shares (“Common Shares”), without par value
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Preferred Shares, without par value
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Debt Securities
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Units (2)
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(1)
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There are being registered hereunder such presently indeterminate number or principal amount of Cardinal Health, Inc. debt securities, common shares and preferred shares as may from time to time be issued at indeterminate prices. Separate consideration may or may not be received for securities that are issuable on exercise, conversion or exchange of other securities. In accordance with Rules 456(b) and 457(r), the registrant is deferring payment of all of the registration fee.
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(2)
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Any securities registered hereunder may be sold separately or as units with other securities registered hereunder.
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(i)
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Class A common shares (“common shares”),
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(ii)
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preferred shares,
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(iii)
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unsecured debt securities, or
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(iv)
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any combination of these securities.
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Annual Report on Form 10-K
for the fiscal year ended June 30, 2019 filed with the SEC on August 20, 2019;
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•
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Current Reports on Form 8-K filed with the SEC on
July 8, 2019
,
July 16, 2019
(with respect to Item 5.02 only),
August 8, 2019
(with respect to Item 2.05 only), and
August 8, 2019
; and
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•
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Description of common shares contained in
Exhibit 4.4
to the Company’s Annual Report on Form 10‑K for the fiscal year ended June 30, 2019 filed with the Commission on August 20, 2019.
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competitive pressures in the markets in which we operate, including pricing pressures;
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uncertainties relating to the pricing of generic pharmaceuticals;
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uncertainties relating to the timing, frequency and profitability of generic pharmaceutical launches;
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our ability to maintain the benefits of our generic pharmaceutical sourcing venture with CVS Health Corporation;
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with respect to our distribution services agreements with branded pharmaceutical manufacturers, changes in the amount of service fees we receive or, in cases where part of our compensation under these agreements is based on branded pharmaceutical price appreciation, changes in the frequency or magnitude of such price appreciation;
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changes in manufacturer approaches to pricing branded pharmaceutical products and risks related to our compensation under contractual arrangements with manufacturers being set as a percentage of the wholesale acquisition cost of branded pharmaceuticals;
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changes in the timing or frequency of the introduction of branded pharmaceuticals;
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risks associated with the resolution and defense of the lawsuits and investigations in which we have been or will be named relating to the distribution of prescription opioid pain medication, including the risk that the outcome of these lawsuits and investigations could have a material adverse effect on our results of operations, financial condition, cash flows or liquidity;
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potential damage to our reputation, adverse operational impacts or other effects that may result from the national opioid epidemic, the allegations that have been made about our role in such epidemic and the ongoing unfavorable publicity surrounding the lawsuits and investigations against us;
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potential adverse impact to our financial results resulting from enacted and proposed state taxes or other assessments on the sale or distribution of opioid medications;
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our high sales concentration with certain key customers, including CVS Health Corporation and OptumRx;
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actions of regulatory bodies and other governmental authorities, including the U.S. Drug Enforcement Administration, certain agencies within the U.S. Department of Health and Human Services (including the U.S. Food and Drug Administration, Centers for Medicare and Medicaid Services, the Office of Inspector General and the Office for Civil Rights), the U.S. Nuclear Regulatory Commission, the U.S. Federal Trade Commission, the U.S. Customs and Border Protection, various state boards of pharmacy, state controlled substance authorities, state health departments, state insurance departments, state Medicaid departments or comparable regulatory bodies or governmental authorities or foreign equivalents that, in each case, could delay, limit or suspend product development, manufacturing, distribution, importation or sales or result in warning letters, recalls, seizures, injunctions or monetary sanctions;
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any compromise of our information systems or of those of a third-party service provider, including unauthorized access to or use or disclosure of company or customer information, disruption of access and ancillary risks associated with our ability to effectively manage any issues arising from any such compromise or disruption;
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risks and uncertainties relating to the acquisition of the Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency businesses from Medtronic plc (the "Patient Recovery Business"), including the ability to achieve the expected synergies and accretion in earnings; and unforeseen internal control, regulatory or compliance issues;
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uncertainties related to our Medical segment's Cardinal Health Brand products, including our ability to manage infrastructure and cost challenges, and to improve its performance;
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risks associated with the realignment of our Medical segment's supply chain and other businesses, including our ability to achieve the expected benefits from such realignment;
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uncertainties with respect to our cost-savings initiatives or other restructuring activities, including the ability to achieve the expected benefits from such initiatives, the risk that we could incur unexpected charges, and the risk that we may fail to retain key personnel;
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difficulties or delays in the development, production, manufacturing, sourcing and marketing of new or existing products and services, including difficulties or delays associated with obtaining requisite regulatory consents or approvals associated with those activities;
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manufacturing disruptions, whether due to regulatory action, production quality deviations, safety issues or raw material shortages or defects, or because a key product is manufactured at a single manufacturing facility with limited alternate facilities;
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risks arising from possible violations of healthcare fraud and abuse laws;
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costs or claims resulting from potential errors or defects in our manufacturing of medical devices or other products or in our compounding, repackaging, information systems or pharmacy management services that may injure persons or damage property or operations, including costs from remediation efforts or recalls and related product liability claims and lawsuits, including class action lawsuits;
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risks arising from possible violations of the U.S. Foreign Corrupt Practices Act and other similar anti-corruption laws in other jurisdictions and U.S. and foreign export control, trade embargo and customs laws;
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risks arising from our collecting, handling and maintaining patient-identifiable health information and other sensitive personal and financial information, which are subject to federal, state and foreign laws that regulate the use and disclosure of such information;
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risks arising from certain of our businesses being Medicare-certified suppliers or participating in other federal and state healthcare programs, such as state Medicaid programs and the federal 340B drug pricing program, which businesses are subject to accreditation and quality standards and other rules and regulations, including applicable reporting, billing, payment and record-keeping requirements;
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risks arising from certain of our businesses manufacturing pharmaceutical and medical products or repackaging pharmaceuticals that are purchased or reimbursed through, or are otherwise governed by, federal or state healthcare programs, which businesses are subject to federal and state laws that establish eligibility for reimbursement by such programs and other applicable standards and regulations;
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changes in laws or changes in the interpretation or application of laws or regulations, as well as possible failures to comply with applicable laws or regulations, including as a result of possible misinterpretations or misapplications;
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material reductions in purchases, pricing changes, non-renewal, early termination, or delinquencies or defaults under contracts with key customers;
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unfavorable changes to the terms of key customer or supplier relationships, or changes in customer mix;
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risks arising from changes in U.S. or foreign tax laws and unfavorable challenges to our tax positions and payments to settle these challenges;
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uncertainties due to possible government healthcare reform, including proposals related to Medicare drug rebate arrangements, possible repeal or replacement of major parts of the Patient Protection and Affordable Care Act, proposals related to prescription drug pricing transparency and the possible adoption of Medicare-For-All;
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reductions or limitations on governmental funding at the state or federal level or efforts by healthcare insurance companies to limit payments for products and services;
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changes in manufacturers' pricing, selling, inventory, distribution or supply policies or practices;
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changes in legislation or regulations governing prescription drug pricing, healthcare services or mandated benefits;
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changes in hospital buying groups or hospital buying practices;
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changes in distribution or sourcing models for pharmaceutical and medical and surgical products, including an increase in direct and limited distribution;
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changes to the prescription drug reimbursement formula and related reporting requirements for generic pharmaceuticals under Medicaid;
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continuing consolidation in the healthcare industry, which could give the resulting enterprises greater bargaining power and may increase pressure on prices for our products and services or result in the loss of customers;
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disruption, damage or lack of access to, or failure of, our or our third-party service providers' information systems, our critical facilities, including our national logistics center, or our distribution networks;
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risks to our business and information and controls systems in the event that business process improvements, infrastructure modernizations or initiatives to use third-party service providers for key systems and processes are not effectively implemented;
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the results, costs, effects or timing of any commercial disputes, government contract compliance matters, patent infringement claims, qui tam actions, government investigations, shareholder lawsuits or other legal proceedings;
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possible losses relating to product liability lawsuits and claims regarding products for which we cannot obtain product liability insurance or for which such insurance may not be adequate to cover our losses, including the product liability lawsuits we are currently defending relating to alleged personal injuries associated with the use of Cordis inferior vena cava filter products;
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our ability to maintain adequate intellectual property protections;
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the costs, difficulties and uncertainties related to the integration of acquired businesses, including liabilities relating to the operations or activities of such businesses prior to their acquisition, and uncertainties relating to our ability to achieve the anticipated results from acquisitions;
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our ability to manage and complete divestitures or other strategic business combination transactions, including our ability to find buyers or other strategic exit opportunities and risks associated with the possibility that we could experience greater dis-synergies than anticipated or otherwise fail to achieve our strategic objectives;
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increased costs for commodities and other materials used in the Medical segment manufacturing, including various components, compounds, raw materials or energy such as oil-based resins, pulp, cotton, latex and other commodities;
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shortages in commodities, components, compounds, raw materials or energy used by our businesses, including supply disruptions of radioisotopes;
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the loss of, or default by, one or more key suppliers for which alternative suppliers may not be readily available;
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bankruptcy, insolvency or other credit failure of a customer or supplier that owes us a substantial amount;
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risks associated with global operations, including the effect of local economic environments, inflation, recession, currency volatility and global competition, in addition to risks associated with compliance with U.S. and international laws relating to global operations;
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uncertainties with respect to U.S. or international trade policies, tariffs, excise or border taxes and their impact on our ability to source products or materials that we need to conduct our business;
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risks associated with our use of and reliance on the global capital and credit markets, including our ability to access credit and our cost of credit, which may adversely affect our ability to efficiently fund our operations or undertake certain expenditures;
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our ability to introduce and market new products and our ability to keep pace with advances in technology;
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significant charges to earnings if goodwill or intangible assets become impaired;
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uncertainties relating to general political, business, industry, regulatory and market conditions; and
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other factors described in the “Risk Factors” section of the 2019 Form 10-K.
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authorize the board of directors to issue, at any time, nonvoting preferred shares, the terms of which may be determined by the board of directors;
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do not authorize shareholders to fill vacancies on the board of directors;
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do not authorize cumulative voting;
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authorize the board of directors to amend, repeal, or adopt new regulations;
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provide that only the chairman of the board of directors, the chief executive officer or the president, or a majority of the directors may call a special meeting of the shareholders, except that a special meeting must be called upon the request from at least 25% of the combined voting power of the outstanding shares entitled to vote at the meeting; and
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provide an advanced written notice procedure with respect to shareholder proposals and shareholder nomination of candidates for election as directors.
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the title of the debt securities and whether the debt securities will be senior or subordinated;
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the total principal amount of the debt securities and any limit upon the aggregate principal amount of the debt securities of the series;
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the date or dates on which the principal of the debt securities will be payable, or the method by which such date or dates will be determined;
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the rate or rates at which the debt securities will bear interest, if any, or the method by which such rate will be determined, the date or dates from which such interest will accrue, the interest payment dates on which such
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if in addition to or other than The City of New York, the place for payment, registration, transfer, exchange or conversion of the debt securities;
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any optional redemption provisions;
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any sinking fund or analogous provisions that would obligate us to redeem, repurchase or repay the debt securities;
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if other than denominations of $1,000 and any integral multiple thereof in the case of debt securities in registered form and denominations of $5,000 in the case of debt securities in bearer form, the denominations in which the debt securities will be issuable;
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if other than the principal amount thereof, the portion of the principal amount of debt securities which will be payable upon declaration of acceleration of the maturity thereof or provable in bankruptcy or the method by which such portion will be determined;
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if other than U.S. dollars, the currency or currencies in which the debt securities will be denominated or payable;
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whether the amount of payments of principal of or interest, if any, on the debt securities may be determined with reference to an index, formula or other method (which may be based on one or more currencies, commodities, equity indices or other indices), and how such amounts will be determined;
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if the provisions of the indenture described under “Defeasance” are not applicable to the debt securities and any provisions in modification of such provisions;
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any provisions granting special rights to the holders of the debt securities upon the occurrence of specified events;
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whether the debt securities are to be issuable in registered form, in bearer form or both, any restrictions applicable to the offer, sale or delivery of debt securities in bearer form, whether the debt securities are to be issuable initially in temporary global form or issuable in permanent global form, and, if so, whether beneficial owners may exchange such interests for debt securities of like tenor of any authorized form and denomination and the circumstances under which any such exchanges may occur, and whether debt securities in registered form may be exchanged for debt securities in bearer form and the circumstances under which any such exchanges may occur;
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any modifications to the events of default or covenants of Cardinal Health with respect to the debt securities;
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if the debt securities are to be issuable in definitive form only upon receipt of certain certificates or other documents or satisfaction of other conditions, the form and/or terms of such certificates, documents or conditions;
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if the debt securities are to be issued upon the exercise of warrants, the time, manner and place for such debt securities to be authenticated and delivered;
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if the debt securities are to be convertible into or exchangeable for any other securities, and the applicable terms and conditions;
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whether the debt securities are subject to subordination and the terms of any such subordination;
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any other material terms of the debt securities;
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any trustees, authenticating or paying agents, transfer agents or registrars or any other agents with respect to the debt securities; and
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whether the debt securities or any portion thereof will be issuable as global securities and any depositary for such global securities.
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the fair value of the assets subject to the transaction; or
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the aggregate of present values (discounted at a rate per annum equal to the weighted average Yield to Maturity of the debt securities of all series then outstanding and compounded semiannually) of Cardinal Health’s or any Consolidated Subsidiary’s obligations for net rental payments during the remaining term of all leases.
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our indebtedness incurred after the date of the indenture and secured by liens not permitted by the limitation on liens provisions of the indenture; and
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our Attributable Debt in respect of every sale and lease-back transaction entered into after the date of the indenture, other than leases permitted by the limitation on sale and lease-back provisions of the indenture.
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the business of making loans or advances, extending credit or providing financial accommodations (including leasing new or used products) to others;
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the business of purchasing notes, accounts receivable (whether or not payable in installments), conditional sale contracts or other obligations of others originating in sales at wholesale or retail; or
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any other business as may be reasonably incidental to those described herein, including the ownership and use of property in connection therewith.
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any and all agreements, devices or arrangements designed to protect at least one of the parties thereto from the fluctuations of interest rates, exchange rates or forward rates applicable to such party’s assets, liabilities or exchange transactions; and
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any and all cancellations, buybacks, reversals, terminations or assignments of the same.
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(a)
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liens existing on the date of the indenture;
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(b)
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liens on assets of any corporation existing at the time it becomes a Consolidated Subsidiary;
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(c)
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liens on assets existing at the time Cardinal Health or a Consolidated Subsidiary acquires them, or to secure the payment of the purchase price for them, or to secure Indebtedness incurred or guaranteed by Cardinal Health or a Consolidated Subsidiary for the purpose of financing the purchase price of assets, or, in the case of real property, construction or improvements thereon, which Indebtedness is incurred or guaranteed prior to, at the time of, or within 360 days after the acquisition (or in the case of real property, completion of construction or improvements or commencement of full operation of such asset, whichever is later) provided that the lien shall not apply to any assets theretofore owned by Cardinal Health or a Consolidated Subsidiary other than, in the case of any such construction or improvements, any real property on which the construction or improvement is located;
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(d)
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liens securing Indebtedness owing by any Consolidated Subsidiary to Cardinal Health or another wholly owned domestic Subsidiary;
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(e)
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liens on any assets of a corporation existing at the time the corporation is merged into or consolidated with Cardinal Health or a Subsidiary or at the time of a purchase, lease or other acquisition of the assets of a corporation or firm as an entirety or substantially as an entirety by Cardinal Health or a Subsidiary;
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(f)
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liens on any assets of Cardinal Health or a Consolidated Subsidiary in favor of the United States of America or any State or political subdivision thereof, or in favor of any other country, or political subdivision thereof, to secure certain payments pursuant to any contract or statute or to secure any Indebtedness incurred or guaranteed for the purpose of financing all or any part of the purchase price (or, in the case of real property, the cost of construction) of the assets subject to such liens (including, but not limited to, liens incurred in connection with pollution control, industrial revenue or similar financings);
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(g)
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any extension, renewal or replacement (or successive extensions, renewals or replacements) in whole or in part, of any lien referred to in the foregoing clauses (a) to (f), inclusive;
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(h)
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certain statutory liens or other similar liens arising in the ordinary course of business or certain liens arising out of governmental contracts;
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(i)
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certain pledges, deposits or liens made or arising under workers’ compensation or similar legislation or in certain other circumstances;
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(j)
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liens created by or resulting from certain legal proceedings, including certain liens arising out of judgments or awards;
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(k)
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liens for certain taxes or assessments, landlord’s liens and liens and charges incidental to the conduct of our business, or our ownership of our assets which were not incurred in connection with the borrowing of money and which do not, in Cardinal Health’s opinion, materially impair our use of such assets in our operations or the value of the assets for its purposes; or
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(l)
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liens on any assets of a Financing Subsidiary.
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(a)
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Indebtedness outstanding on the date of the indenture;
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(b)
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Indebtedness of a Restricted Subsidiary that represents its assumption of Indebtedness of another Subsidiary, and Indebtedness owed by any Restricted Subsidiary to Cardinal Health or to another Subsidiary; provided that such Indebtedness will be held at all times by either Cardinal Health or a Subsidiary; and provided further that upon the transfer or disposition of such Indebtedness to someone other than Cardinal Health or another Subsidiary, the incurrence of such Indebtedness will be deemed to be an incurrence that is not permitted;
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(c)
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Indebtedness arising from (i) the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business or (ii) the honoring by a bank or other financial institution of a check, draft or similar instrument inadvertently (except in the case of daylight overdrafts) drawn against insufficient funds in the ordinary course of business; provided that such overdraft is extinguished within five business days of incurrence;
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(d)
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Indebtedness arising from guarantees of loans and advances by third parties to employees and officers of a Restricted Subsidiary in the ordinary course of business for bona fide business purposes; provided that the aggregate amount of such guarantees by all Restricted Subsidiaries does not exceed $1,000,000;
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(e)
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Indebtedness incurred by a foreign Restricted Subsidiary in the ordinary course of business;
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(f)
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Indebtedness of any corporation existing at the time such corporation becomes a Restricted Subsidiary or is merged into a Restricted Subsidiary or at the time of a purchase, lease or other acquisition by a Restricted Subsidiary of all or substantially all of the assets of such corporation;
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(g)
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Indebtedness of a Restricted Subsidiary arising from agreements or guarantees providing for or creating any obligations of Cardinal Health or any of its Subsidiaries incurred in connection with the disposition of any business, property or Subsidiary, excluding guarantees or similar credit support by a Restricted Subsidiary of indebtedness incurred by the acquirer of such business, property or Subsidiary for the purpose of financing such acquisition;
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(h)
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Indebtedness of a Restricted Subsidiary with respect to bonds, bankers’ acceptances or letters of credit provided by such Subsidiary in the ordinary course of business;
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(i)
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Indebtedness secured by a lien permitted by the provisions regarding limitations on liens or arising in respect of a sale and lease-back transaction permitted by the provisions regarding such transactions, or any Indebtedness incurred to finance the purchase price or cost of construction of improvements with respect to certain property or assets acquired after the date of the indenture;
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(j)
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Indebtedness that is issued, assumed or guaranteed in connection with compliance by a Restricted Subsidiary with the requirements of any program, applicable to such Restricted Subsidiary, adopted by any governmental authority that provides for financial or tax benefits which are not available directly to Cardinal Health;
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(k)
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Indebtedness arising from Rate Hedging Obligations incurred to limit risks of currency or interest rate fluctuations to which a Subsidiary is otherwise subject by virtue of the operations of its business, and not for speculative purposes;
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(l)
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Indebtedness incurred by any Financing Subsidiary; and
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(m)
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Indebtedness incurred in connection with refinancing of any Indebtedness described in clauses (a), (b), (f), (g), and (i) above (the “Refinancing Indebtedness”), provided that:
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(i)
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the principal amount of the Refinancing Indebtedness does not exceed the principal amount of the Indebtedness refinanced (plus the premiums paid and expenses incurred in connection therewith),
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(ii)
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the Refinancing Indebtedness has a weighted average life to maturity equal to or greater than the weighted average life to maturity of the Indebtedness being refinanced, and
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(iii)
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the Refinancing Indebtedness ranks no more senior, and is at least as subordinated in right of payment, as the Indebtedness being refinanced.
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•
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Cardinal Health or the Consolidated Subsidiary would be entitled to incur Indebtedness secured by a lien on the assets to be leased in an amount at least equal to the Attributable Debt with respect to such transaction without equally and ratably securing the notes; or
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the proceeds of the sale of the assets to be leased are at least equal to their fair value as determined by Cardinal Health’s board of directors and the proceeds are applied to the purchase or acquisition (or, in the case of real property, the construction) of assets or to the retirement of Senior Funded Indebtedness.
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•
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Cardinal Health will be the continuing corporation; or
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(a) the successor corporation or person that acquires all or substantially all of Cardinal Health’s assets is a corporation, partnership, limited liability company, business trust, trust or other legal entity organized under the laws of the United States or a State thereof or the District of Columbia; and (b) the successor corporation or person expressly assumes all of Cardinal Health’s obligations under the indenture and the debt securities; and (c) immediately after such merger, consolidation, sale, lease or conveyance, the successor corporation or person is not in default in the performance of the covenants and conditions of the indenture to be performed or observed by Cardinal Health.
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(1)
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extend the final maturity of any of the debt securities;
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(2)
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reduce the principal amount;
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(3)
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reduce the rate or extend the time of payment of interest;
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(4)
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reduce any amount payable on redemption;
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(5)
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reduce the amount of the principal of an Original Issue Discount Security that would be due and payable upon an acceleration of the maturity;
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(6)
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reduce the amount of an Original Issue Discount Security provable in bankruptcy; or
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(7)
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impair or affect the right of any holder of the debt securities to institute suit for payment.
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(1)
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to convey, transfer, assign, mortgage or pledge to the trustee as security for the debt securities any property or assets;
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(2)
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to evidence the succession of another corporation, partnership, limited liability company, business trust, trust or other legal entity to Cardinal Health and the assumption by the successor corporation, partnership, limited liability company, business trust, trust or other legal entity of the covenants, agreements and obligations of Cardinal Health;
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(3)
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to add to Cardinal Health’s covenants any further covenants, restrictions, conditions or provisions considered to be for the protection of the holders;
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(4)
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to cure any ambiguity or to correct or supplement any provision contained in the indenture which may be defective or inconsistent with any other provision contained in the indenture or to make such other provisions in regard to
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(5)
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to establish the form or terms of the debt securities;
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(6)
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to evidence or provide for the acceptance of appointment by a successor trustee and to add to or change any of the provisions of the indenture that may be necessary to provide for or facilitate the administration of the trusts created thereunder by more than one trustee;
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(7)
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to add to or change any of the provisions of the indenture to such extent as may be necessary to permit or facilitate the issuance of debt securities in bearer form, registrable or not registrable as to principal, and with or without interest coupons, or to permit or facilitate the issuance of debt securities in uncertificated form;
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(8)
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to supplement any of the provisions of the indenture to such extent as is necessary to permit or facilitate the defeasance and discharge of any series of debt securities, provided that any such action will not adversely affect the interests of any holder of an outstanding debt security of such series or any other outstanding debt security in any material respect; or
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(9)
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to amend or supplement any provision contained in the indenture or in any supplemental indenture, provided that no such amendment or supplement will materially adversely affect the interests of the holders of any debt securities then outstanding.
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(1)
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failure to pay principal of and premium, if any, on any debt securities of such series when due;
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(2)
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failure to pay interest on any debt securities of such series when due for 30 days;
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(3)
|
failure to perform any other covenant or agreement of Cardinal Health in respect of the debt securities of such series for 90 days after written notice to Cardinal Health specifying that such notice is a “notice of default” under the indenture;
|
(4)
|
failure to pay any sinking fund installment when due on any debt securities of such series;
|
(5)
|
certain events of bankruptcy or insolvency of Cardinal Health; and
|
(6)
|
any other event of default provided in the supplemental indenture or resolutions of Cardinal Health’s board of directors under which such debt securities are issued or in the form of debt security for such series.
|
(1)
|
that holder gives to the trustee advance written notice of default and its continuance;
|
(2)
|
the holders of not less than 25% in aggregate principal amount of the debt securities of such series then outstanding affected by that event of default request the trustee to institute such action;
|
(3)
|
that holder or holders has offered the trustee reasonable indemnity as it may require;
|
(4)
|
the trustee has not instituted such action within 60 days of such notice, request and offer of indemnity; and
|
(5)
|
the trustee has not, during such 60-day period, received direction inconsistent with such written request by the holders of a majority in aggregate principal amount of the debt securities of each affected series then outstanding.
|
(1)
|
Cardinal Health has paid all sums payable by it under the indenture; or
|
(2)
|
Cardinal Health has delivered to the trustee for cancellation all authenticated debt securities; or
|
(3)
|
all the debt securities not delivered to the trustee for cancellation have become due and payable or are by their terms to become due and payable within one year or are to be called for redemption within one year under arrangements satisfactory to the trustee, and Cardinal Health has irrevocably deposited with the trustee as trust funds an amount in cash sufficient to pay the principal and interest at maturity or upon redemption of such debt securities not previously delivered to the trustee for cancellation and paid all other sums payable with respect to such debt securities; and
|
(1)
|
we will be discharged from our obligations with respect to the securities of such series; or
|
(2)
|
we will no longer be under any obligation to comply with certain restrictive covenants under the indenture, and certain events of default will no longer apply to us.
|
•
|
how it handles securities payments and notices;
|
•
|
whether it imposes fees or charges;
|
•
|
how it would handle a request for its consent, as a registered holder of the debt securities, if ever required;
|
•
|
if permitted for a particular series of debt securities, whether and how you can instruct it to send you debt securities registered in your own name so you can be a registered holder of such debt securities;
|
•
|
how it would exercise rights under the debt securities if there were a default or other event triggering the need for holders to act to protect their interests; and
|
•
|
if the debt securities are in book-entry form, how the depositary’s rules and procedures will affect these matters.
|
•
|
An investor cannot cause the debt securities to be registered in his or her name, and cannot obtain non-global certificates for his or her interest in the debt securities, except in the special situations we describe below under “- Special Situations When a Global Security Will Be Terminated.”
|
•
|
An investor will be an indirect holder and must look to his or her own bank or broker for payments on the debt securities and protection of his or her legal rights relating to the debt securities, as we describe under “- Holders of Registered Debt Securities” above.
|
•
|
An investor may not be able to sell his or her interest in the debt securities to some insurance companies and other institutions that are required by law to own their securities in non-book-entry form.
|
•
|
An investor may not be able to pledge his or her interest in the debt securities in circumstances where certificates representing the debt securities must be delivered to the lender or other beneficiary of the pledge in order for the pledge to be effective.
|
•
|
The depositary’s policies, which may change from time to time, will govern payments, transfers, exchanges and other matters relating to an investor’s interest in the debt securities. Neither the trustee nor Cardinal Health have any responsibility for any aspect of the depositary’s actions or for the depositary’s records of ownership interests in a global security. Additionally, neither the trustee nor Cardinal Health supervise the depositary in any way.
|
•
|
DTC requires that those who purchase and sell interests in a global security that is deposited in its book-entry system use immediately available funds. Your broker or bank may also require you to use immediately available funds when purchasing or selling interests in a global security.
|
•
|
Financial institutions that participate in the depositary’s book-entry system, and through which an investor holds its interest in a global security, may also have their own policies affecting payments, notices and other matters relating to the debt security. There may be more than one financial intermediary in the chain of ownership for an investor. Cardinal Health does not monitor and is not responsible for the actions of any of such intermediaries.
|
•
|
if the depositary notifies Cardinal Health that it is unwilling, unable or no longer qualified to continue as depositary for that global security, and Cardinal Health does not appoint another institution to act as depositary within 90 days of such notification;
|
•
|
if Cardinal Health notifies the trustee that it wishes to terminate that global security; or
|
•
|
if an event of default has occurred with regard to the debt securities represented by that global security and such event of default has not been cured or waived.
|
•
|
only in fully registered certificated form; and
|
•
|
unless otherwise indicated in the applicable prospectus supplement, in denominations of $1,000 and amounts that are multiples of $1,000.
|
•
|
through the solicitation of proposals of underwriters or dealers to purchase the offered securities;
|
•
|
through underwriters or dealers on a negotiated basis;
|
•
|
directly to institutional investors
|
•
|
directly to a limited number of purchasers or to a single purchaser;
|
•
|
through agents; or
|
•
|
through a combination of any of these methods of sale.
|
|
Amount
|
SEC Registration Fee
|
$(1)
|
* Stock Exchange Listing Fee
|
(2)
|
* Trustees Expenses
|
(2)
|
* Printing and Engraving
|
(2)
|
* Services of Counsel
|
(2)
|
* Services of Independent Public Accountants
|
(2)
|
* Rating Agency Fees
|
(2)
|
* Blue Sky Fees and Expenses
|
(2)
|
* Miscellaneous
|
(2)
|
Total
|
$(2)
|
(1)
|
Deferred in reliance upon Rule 456(b) and 457(r).
|
(2)
|
The applicable prospectus supplement will set forth the estimated aggregate amount of expenses payable with respect to any offering of securities.
|
Exhibit
Number
|
Exhibit Description
|
1
|
Form of Underwriting Agreement (1)
|
4.1
|
|
4.2
|
|
4.3
|
|
4.4
|
|
4.5
|
|
4.6
|
Specimen of Certificate for Preferred Shares (1)
|
4.7
|
Form of Unit Agreement (1)
|
5.1
|
|
5.2
|
|
23.1
|
|
23.2
|
|
23.3
|
|
24
|
|
25
|
(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;
|
(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 Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% 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 (a)(1)(i), (a)(1)(ii), and (a)(1)(iii) do not apply if the registration statement is on Form S-3 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or Section 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:
|
(A)
|
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
|
(B)
|
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 registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; and
|
(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 Exchange Act) 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.
|
|
Cardinal Health, Inc.
|
|
|
|
|
|
By:
|
/s/ MICHAEL C. KAUFMANN
|
|
|
Michael C. Kaufmann
|
|
|
Chief Executive Officer
|
Name
|
|
Title
|
/s/ MICHAEL C. KAUFMANN
|
|
Chief Executive Officer and Director (principal executive officer)
|
Michael C. Kaufmann
|
|
|
|
|
|
/s/ MICHAEL C. KAUFMANN
|
|
Chief Financial Officer (principal financial officer)
|
Michael C. Kaufmann
|
|
|
|
|
|
/s/ STUART G. LAWS
|
|
Senior Vice President and Chief Accounting Officer (principal accounting officer)
|
Stuart G. Laws
|
|
|
|
|
|
/s/ COLLEEN F. ARNOLD
|
|
Director
|
Colleen F. Arnold
|
|
|
|
|
|
/s/ CARRIE S. COX
|
|
Director
|
Carrie S. Cox
|
|
|
|
|
|
/s/ CALVIN DARDEN
|
|
Director
|
Calvin Darden
|
|
|
|
|
|
/s/ BRUCE L. DOWNEY
|
|
Director
|
Bruce L. Downey
|
|
|
|
|
|
/s/ PATRICIA A. HEMINGWAY HALL
|
|
Director
|
Patricia A. Hemingway Hall
|
|
|
|
|
|
/s/ AKHIL JOHRI
|
|
Director
|
Akhil Johri
|
|
|
|
|
|
/s/ GREGORY B. KENNY
|
|
Director
|
Gregory B. Kenny
|
|
|
|
|
|
/s/ NANCY KILLEFER
|
|
Director
|
Nancy Killefer
|
|
|
|
|
|
/s/ J. MICHAEL LOSH
|
|
Director
|
J. Michael Losh
|
|
|
|
|
|
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