FORM S-3/A
As filed with the Securities and Exchange Commission on May 18, 2009
Registration Statement No. 333-159052
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 1
to
Form S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
GAYLORD ENTERTAINMENT COMPANY
(Exact Name of Registrant as Specified In its Charter)
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Delaware
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73-0664379 |
(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer Identification No.) |
One Gaylord Drive
Nashville, Tennessee 37214
(615) 316-6000
(Address, including zip code, and telephone number,
including area code, of registrants principal executive offices)
Carter R. Todd, Esq.
Senior Vice President, Secretary and General Counsel
Gaylord Entertainment Company
One Gaylord Drive
Nashville, Tennessee 37214
(615) 316-6000
(Name, address, including zip code, and telephone number,
including area code, of agent for service)
Copy to:
F. Mitchell Walker, Jr., Esq.
Bass, Berry & Sims PLC
315 Deaderick Street, Suite 2700
Nashville, TN 37238-3001
(615) 742-6200
Approximate date of commencement of proposed sale to the public: From time to time after the
effective date of this registration statement.
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: þ
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 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. o
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.
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Large accelerated filer þ |
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Accelerated filer o |
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Non-accelerated filer o
(Do not check if a smaller reporting company) |
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Smaller reporting company o |
CALCULATION OF REGISTRATION FEE
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Proposed Maximum |
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Proposed |
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Title of Each Class of |
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Amount to be Registered(1) |
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Offering Price Per Unit(1) |
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Maximum Aggregate |
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Amount of Registration Fee |
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Securities to be Registered |
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(2) |
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(2) |
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Offering Price(1)(2)(3) |
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(4) |
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Debt Securities(5)(6) |
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Guarantees of Debt
Securities(6) |
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Common Stock, par
value $.01 per
share(7) |
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Preferred Stock, par
value $.01 per share |
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Warrants |
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Subscription Rights(8) |
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Total |
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$ |
750,000,000 |
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41,850 |
(9) |
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(1) |
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The amount to be registered and the proposed maximum aggregate offering price per unit are
not specified as to each class of securities to be registered pursuant to General Instruction
II.D. of Form S3 under the Securities Act of 1933, as amended. The securities covered by this
Registration Statement may be sold or otherwise distributed separately or together with any
other securities covered by this Registration Statement. |
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Such indeterminate principal amount, liquidation amount or number of each identified class of
securities as may from time to time be issued at indeterminate prices. The aggregate maximum
offering price of all securities issued by Gaylord Entertainment Company pursuant to this
Registration Statement shall not have a maximum aggregate offering price that exceeds
$750,000,000 in U.S. dollars or the equivalent at the time of offering in any other
currency. Also includes such indeterminate principal amount, liquidation amount or number of
identified classes of securities as may be issued upon conversion or exchange of any debt
securities, preferred stock, warrants or subscription rights that provide for conversion or
exchange into other securities. No separate consideration will be received for such securities
that are issued upon exchange or conversion of debt securities, preferred stock, warrants or
subscription rights. |
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(3) |
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Estimated solely for purposes of calculating the registration fee under Rule 457 under the
Securities Act of 1933, as amended. |
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(4) |
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The Registration Fee has been calculated pursuant to Rule 457(o) under the Securities Act of
1933, as amended. |
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If any debt securities are issued at an original issue discount, then such greater amount as
may be sold for an initial aggregate offering price up to the proposed maximum aggregate
offering price. |
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Guarantees of the debt securities may be provided by one or more of the registrants named
below under Table of Additional Registrants and will be issued without additional
consideration. Pursuant to Rule 457(n) under the Securities Act of 1933, as amended, no
separate registration fee is payable for the guarantees. |
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Each share of common stock being registered hereby includes associated rights to acquire one
one-hundredth of a share of Series A Junior Participating Preferred Stock of Gaylord
Entertainment Company pursuant to a shareholders rights plan. Prior to the occurrence of
certain events, the rights will not be exercisable or evidenced separately from the common
stock. The value attributable to the associated rights, if any, is reflected in the value
attributable to the common stock. |
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The subscription rights to purchase debt securities or common or preferred stock of Gaylord
Entertainment Company will be issued without consideration. |
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(9) |
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Previously paid. |
The Registrant hereby amends this Registration Statement on such date or dates as may be
necessary to delay its effective date until the Registrant shall file a further amendment which
specifically states that this Registration Statement shall thereafter become effective in
accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the Registration
Statement shall become effective on such date as the Securities and Exchange Commission, acting
pursuant to said Section 8(a), may determine.
TABLE OF ADDITIONAL REGISTRANTS*
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State or Other |
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Primary Standard |
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IRS |
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Jurisdiction of |
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Industrial |
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Employer |
Exact Name of Registrant as Specified in its |
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Incorporation or |
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Classification Code |
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Identification |
Charter or Organizational Document* |
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Organization |
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Number |
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Number |
CCK Holdings, LLC |
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Delaware |
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7990 |
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02-0689400 |
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Corporate Magic, Inc. |
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Texas |
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7990 |
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75-2620110 |
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Country Music Television International, Inc. |
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Delaware |
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7990 |
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62-1706006 |
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Gaylord Creative Group, Inc. |
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Delaware |
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7990 |
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62-1673308 |
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Gaylord Destin Resorts, LLC |
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Delaware |
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7000 |
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20-5992113 |
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Gaylord Finance, Inc. |
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Delaware |
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7990 |
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20-8055498 |
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Gaylord Hotels, Inc. |
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Delaware |
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7011 |
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11-3689948 |
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Gaylord Investments, Inc. |
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Delaware |
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7990 |
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62-1619801 |
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Gaylord Mesa, LLC |
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Delaware |
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7011 |
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26-3274820 |
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Gaylord Mesa Convention Center, LLC |
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Delaware |
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7011 |
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26-3345430 |
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Gaylord National, LLC |
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Maryland |
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7011 |
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43-2062851 |
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Gaylord Program Services, Inc. |
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Delaware |
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7990 |
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95-2767112 |
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Grand Ole Opry, LLC |
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Delaware |
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7990 |
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20-5991991 |
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Grand Ole Opry Tours, Inc. |
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Tennessee |
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7990 |
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62-0882286 |
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OLH, G.P. |
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Tennessee |
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7990 |
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62-1586927 |
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OLH Holdings, LLC |
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Delaware |
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7990 |
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11-3689947 |
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Opryland Attractions, LLC |
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Delaware |
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7990 |
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62-1618413 |
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Opryland Hospitality, LLC |
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Tennessee |
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7011 |
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62-1586924 |
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Opryland Hotel Nashville, LLC |
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Delaware |
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7011 |
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62-1838230 |
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Opryland Hotel-Florida Limited Partnership |
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Florida |
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7011 |
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62-1795659 |
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Opryland Hotel-Texas Limited Partnership |
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Delaware |
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7011 |
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62-1798694 |
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Opryland Hotel-Texas, LLC |
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Delaware |
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7011 |
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11-3689950 |
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Opryland Productions, Inc. |
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Tennessee |
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7990 |
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62-1048127 |
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Opryland Theatricals, Inc. |
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Delaware |
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7990 |
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62-1664967 |
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Wildhorse Saloon Entertainment Ventures, Inc. |
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Tennessee |
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7990 |
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62-1706672 |
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Address and telephone numbers of the principal executive offices of each of the registrants listed above are the same as that of Gaylord. |
The information in this prospectus is not complete and may be changed. We may not sell these
securities until the registration statement filed with the Securities and Exchange Commission is
effective. This prospectus is not an offer to sell these securities and is not soliciting an offer
to buy these securities in any jurisdiction where the offer or sale
is not permitted.
Subject to Completion, dated May 18, 2009
Prospectus
$750,000,000
Debt Securities
Guarantees of Debt Securities
Common Stock
Preferred Stock
Warrants to Purchase Debt Securities, Common Stock or Preferred Stock
Subscription Rights to Purchase Debt Securities, Common Stock or Preferred Stock
We may from
time to time offer to sell our debt securities, common stock or preferred stock, either
separately or evidenced by warrants or subscription rights to purchase such securities. The
aggregate initial offering price of all securities sold under this prospectus will not exceed
$750,000,000. The debt securities may consist of debentures, notes, or other types of debt, and
may be guaranteed by one or more of our subsidiaries identified in this prospectus. The debt
securities, preferred stock, warrants and subscription rights may be convertible, exercisable or
exchangeable for common or preferred stock or other securities of ours. Our common stock is traded
on the New York Stock Exchange under the symbol GET.
Our principal executive offices are located at One Gaylord Drive, Nashville, Tennessee 37214. Our
telephone number is (615) 316-6000.
We will provide the specific terms of each offering of our securities in supplements to this
prospectus. You should read this prospectus and any prospectus supplement, as well as the documents
incorporated or deemed to be incorporated by reference in this prospectus, carefully before you
invest.
Investing in our securities involves risks. See Risk Factors beginning on page 3.
Neither the Securities and Exchange Commission nor any state securities commission has approved or
disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any
representation to the contrary is a criminal offense.
We may offer to sell these securities on a continuous or delayed basis directly, through agents,
dealers or underwriters as designated from time to time, or through a combination of these methods.
The securities also may be resold by security holders. We reserve the sole right to accept, and
together with our agents, from time to time, to reject in whole or in part any proposed purchase of
securities to be made directly or through agents. If our agents or any dealers or underwriters are
involved in the sale of the securities, the applicable prospectus supplement will set forth the
names of the agents, dealers or underwriters and any applicable commissions or discounts. Our net
proceeds from the sale of securities will also be set forth in the applicable prospectus
supplement.
This prospectus may not be used to offer or consummate sales of securities unless accompanied by a
prospectus supplement.
The date of this prospectus is , 2009.
TABLE OF CONTENTS
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8 |
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15 |
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23 |
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EX-12.1 |
ABOUT THIS PROSPECTUS
This prospectus is a part of a registration statement that we filed with the Securities and
Exchange Commission, or the Commission, utilizing a shelf registration process. Under this shelf
registration process, we may sell the securities described in this prospectus in one or more
offerings. This prospectus provides you with a general description of the securities we may offer.
Each time we sell securities pursuant to this prospectus, we will provide a prospectus supplement
that will contain specific information about the terms of that offering.
You should rely only on the information contained or incorporated by reference in this
prospectus or in any related free writing prospectus that we authorize to be distributed to you. We
have not authorized anyone to provide you with different information. If anyone provides you with
different or inconsistent information, you should not rely on it. We are not making an offer to
sell these securities in any jurisdiction where the offer or sale is not permitted. You should
assume that the information appearing in this prospectus and the documents incorporated by
reference in this prospectus is accurate only as of the date of this prospectus or the date of the
incorporated document. Our business, financial condition, results of operations and prospects may
have changed since those dates. Before making an investment decision, you should read this
prospectus, the prospectus supplement and the documents incorporated by reference in this
prospectus as described under the heading Incorporation of Information by Reference in this
prospectus.
Unless expressly stated or the context otherwise requires, the terms we, our, us, the
Company and Gaylord refer to Gaylord Entertainment Company, a Delaware corporation, and its
consolidated subsidiaries.
1
WHERE YOU CAN FIND ADDITIONAL INFORMATION
We file annual, quarterly and current reports, proxy statements and other information with the
Commission. Our Commission filings are also available over the Internet at the Commissions web
site at http://www.sec.gov. You may also read and copy any document we file at the Commissions
public reference room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. Please call the
Commission at 1-800-SEC-0330 to obtain information on the operation of the public reference room.
We make available free of charge through our web site our Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q, Current Reports on Form 8-K, Proxy Statement on Schedule 14A and all
amendments to those reports as soon as reasonably practicable after such material is electronically
filed with or furnished to the Commission. Our web site address is www.gaylordentertainment.com.
Please note that our web site address is provided as an inactive textual reference only.
Information contained on or accessible through our website is not part of this prospectus or the
prospectus supplement, and is therefore not incorporated by reference unless such information is
otherwise specifically referenced elsewhere in this prospectus or the prospectus supplement.
INCORPORATION OF INFORMATION BY REFERENCE
The Commission allows us to incorporate by reference the information we file with them,
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 part of this prospectus, and
information that we file later with the Commission will automatically update and supersede this
information. We incorporate by reference the documents listed below (except the information
contained in such documents to the extent that it is furnished and not filed):
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Annual Report on Form 10-K for the year ended December 31, 2008, filed with the
Commission on March 2, 2009. |
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Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009,
filed with the Commission on May 8, 2009. |
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Current Reports on Form 8-K, filed with the Commission on March 10, 2009 and
May 5, 2009. |
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4. |
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A description of our common stock set forth in our Form 10/A-3, filed on August
29, 1997, and as updated in Item I on our Schedule 14A, filed on April 5, 2001, and a
description of rights to acquire one one-hundredth of a share of Series A Junior
Participating Preferred Stock of the Gaylord Entertainment Company pursuant to our
shareholder rights plan set forth in our Registration Statement on Form 8-A and Current
Report on Form 8-K, both filed on August 13, 2008, as amended by our Registration
Statement on Form 8-A/A and Current Report on Form 8-K, both filed on March 10, 2009. |
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All documents filed with the Commission pursuant to Sections 13(a), 13(c), 14
or 15(d) of the Exchange Act after the date of this prospectus and prior to the
termination of the offering. |
Notwithstanding the foregoing, we are not incorporating by reference any information furnished
under Item 2.02 or Item 7.01 of any Current Report on Form 8-K (including financial statements or
exhibits relating thereto furnished pursuant to Item 9.01).
You may request, and we will provide, a copy of our filings incorporated by reference at no
cost by writing or telephoning us at the following address:
Gaylord Entertainment Company
One Gaylord Drive
Nashville, Tennessee 37214
Attn: Corporate Secretary
Telephone: (615) 316-6000
2
FORWARD-LOOKING STATEMENTS
This prospectus (including the documents incorporated by reference) contains, and any
accompanying prospectus supplement may contain, forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
All statements other than statements of historical fact are forward-looking statements for
purposes of federal and state securities laws. Forward-looking statements include discussions
regarding the Companys operating strategy, strategic plan, hotel development strategy, industry
and economic conditions, financial condition, liquidity and capital resources, and results of
operations. You can identify these statements by forward-looking words such as expects,
anticipates, intends, plans, believes, estimates, projects, will, and similar
expressions. Although we believe that the plans, objectives, expectations and prospects reflected
in or suggested by our forward-looking statements are reasonable, those statements involve
uncertainties and risks, and we cannot assure you that our plans, objectives, expectations and
prospects will be achieved. Our actual results could differ materially from the results anticipated
by the forward-looking statements as a result of many known and unknown factors, including, but not
limited to, those contained in Risk Factors and elsewhere in this prospectus. All written or oral
forward-looking statements attributable to us are expressly qualified in their entirety by these
cautionary statements. The Company does not undertake any obligation to update or to release
publicly any revisions to forward-looking statements contained in this prospectus or any
accompanying prospectus supplement to reflect events or circumstances occurring after the date of
this prospectus or any accompanying prospectus supplement or to reflect the occurrence of
unanticipated events.
RISK FACTORS
Investing
in our securities involves risks. You are urged to read and carefully consider the
information under the heading Risk Factors in our Annual Report on Form 10-K for the year ended
December 31, 2008 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009, which are incorporated by reference into this prospectus, and in documents we
file with the Commission after the date of this prospectus and which are incorporated by reference
into this prospectus, as described above under the heading Incorporation of Information by
Reference. Before making an investment decision, you should carefully consider these risks as well
as other information we incorporate by reference in this prospectus. The risks and uncertainties
that we have described are not the only ones facing us. The prospectus supplement applicable to
each offering of our securities may contain additional information about risks applicable to an
investment in us and any securities offered hereby.
3
SELECTED FINANCIAL DATA
The information in the following table should be read in conjunction with Managements
Discussion and Analysis of Financial Condition and Results of Operations and our consolidated
financial statements and related notes included in our Annual Report on Form 10-K for the year
ended December 31, 2008 and our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009 incorporated by reference herein. The following selected historical
financial information of Gaylord and its subsidiaries as of December 31, 2006, 2007 and 2008 and
for each of the three years in the period ended December 31, 2008 was derived from our audited
consolidated financial statements included in our Annual Report on Form 10-K for the year ended
December 31, 2008 incorporated by reference in this prospectus. The selected historical
financial information as of December 31, 2004 and 2005 and for each of the two years in the period
ended December 31, 2005 was derived from previously issued audited consolidated financial
statements adjusted for unaudited revisions for discontinued operations.
The selected historical information as of March 31, 2008 and 2009 and for the three months ended
March 31, 2008 and 2009 was derived from Quarterly Report on Form 10-Q for the three months
ended March 31, 2009 incorporated by reference in this prospectus. In the opinion of management,
our interim financial statements have been prepared on a basis consistent with our audited
consolidated financial statements. Interim results are not necessarily reflective of results
of operations for the full year.
4
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Years Ended December 31, |
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Three Months Ended March 31, |
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2004 |
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2005 |
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2006 |
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2007 |
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2008 |
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2008 |
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2009 |
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Income Statement Data: |
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Revenues: |
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Hospitality |
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$ |
473,051 |
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$ |
576,927 |
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$ |
645,437 |
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$ |
669,743 |
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$ |
848,332 |
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$ |
177,944 |
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$ |
200,647 |
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Opry and Attractions |
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66,565 |
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67,097 |
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76,580 |
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77,769 |
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82,125 |
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17,116 |
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11,644 |
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Corporate and Other |
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388 |
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512 |
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255 |
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211 |
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412 |
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175 |
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28 |
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Total revenues |
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540,004 |
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644,536 |
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722,272 |
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747,723 |
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930,869 |
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|
|
195,235 |
|
|
|
212,319 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating costs |
|
|
347,809 |
|
|
|
395,461 |
|
|
|
442,679 |
|
|
|
448,975 |
|
|
|
566,366 |
|
|
|
113,489 |
|
|
|
131,365 |
|
Selling, general and administrative |
|
|
122,400 |
|
|
|
143,184 |
|
|
|
153,763 |
|
|
|
160,699 |
|
|
|
178,809 |
|
|
|
39,541 |
|
|
|
44,861 |
|
Preopening costs (1) |
|
|
14,205 |
|
|
|
5,005 |
|
|
|
7,174 |
|
|
|
17,518 |
|
|
|
19,190 |
|
|
|
15,575 |
|
|
|
|
|
Impairment and other charges |
|
|
1,212 |
(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,264 |
(3) |
|
|
12,031 |
(3) |
|
|
|
|
Restructuring charges |
|
|
196 |
(4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitality |
|
|
58,521 |
|
|
|
63,188 |
|
|
|
64,502 |
|
|
|
65,369 |
|
|
|
97,229 |
|
|
|
18,261 |
|
|
|
24,589 |
|
Opry and Attractions |
|
|
5,215 |
|
|
|
5,347 |
|
|
|
5,663 |
|
|
|
5,500 |
|
|
|
4,894 |
|
|
|
1,300 |
|
|
|
1,114 |
|
Corporate and Other |
|
|
4,737 |
|
|
|
4,049 |
|
|
|
4,903 |
|
|
|
6,480 |
|
|
|
7,651 |
|
|
|
1,650 |
|
|
|
2,368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total depreciation and amortization |
|
|
68,473 |
|
|
|
72,584 |
|
|
|
75,068 |
|
|
|
77,349 |
|
|
|
109,774 |
|
|
|
21,211 |
|
|
|
28,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating expenses |
|
|
554,295 |
|
|
|
616,234 |
|
|
|
678,684 |
|
|
|
704,541 |
|
|
|
893,403 |
|
|
|
201,847 |
|
|
|
204,297 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hospitality |
|
|
43,525 |
|
|
|
72,684 |
|
|
|
99,080 |
|
|
|
110,126 |
|
|
|
124,828 |
|
|
|
35,492 |
|
|
|
26,151 |
|
Opry and Attractions |
|
|
1,548 |
|
|
|
1,889 |
|
|
|
5,014 |
|
|
|
6,600 |
|
|
|
5,641 |
|
|
|
(1,044 |
) |
|
|
(2,508 |
) |
Corporate and Other |
|
|
(43,751 |
) |
|
|
(41,266 |
) |
|
|
(53,332 |
) |
|
|
(56,026 |
) |
|
|
(54,549 |
) |
|
|
(13,454 |
) |
|
|
(15,621 |
) |
Preopening costs (1) |
|
|
(14,205 |
) |
|
|
(5,005 |
) |
|
|
(7,174 |
) |
|
|
(17,518 |
) |
|
|
(19,190 |
) |
|
|
(15,575 |
) |
|
|
|
|
Impairment and other charges |
|
|
(1,212 |
)(3) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(19,264 |
)(3) |
|
|
(12,031 |
)(3) |
|
|
|
|
Restructuring charges |
|
|
(196 |
)(4) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total operating (loss) income |
|
|
(14,291 |
) |
|
|
28,302 |
|
|
|
43,588 |
|
|
|
43,182 |
|
|
|
37,466 |
|
|
|
(6,612 |
) |
|
|
8,022 |
|
Interest expense, net of amounts capitalized |
|
|
(55,042 |
) |
|
|
(73,249 |
) |
|
|
(72,473 |
) |
|
|
(38,536 |
) |
|
|
(64,069 |
) |
|
|
(3,579 |
) |
|
|
(18,600 |
) |
Interest income |
|
|
1,448 |
|
|
|
1,787 |
|
|
|
2,088 |
|
|
|
3,234 |
|
|
|
12,689 |
|
|
|
324 |
|
|
|
3,846 |
|
Unrealized (loss) gain on Viacom stock and CBS stock |
|
|
(87,914 |
) |
|
|
(41,554 |
) |
|
|
38,337 |
|
|
|
6,358 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized gain (loss) on derivatives, net |
|
|
56,533 |
|
|
|
35,705 |
|
|
|
(16,618 |
) |
|
|
3,121 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from unconsolidated companies |
|
|
3,825 |
|
|
|
2,169 |
|
|
|
10,565 |
|
|
|
964 |
|
|
|
(746 |
) |
|
|
236 |
|
|
|
129 |
|
Gain on extinguishment of debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,862 |
(6) |
|
|
|
|
|
|
16,557 |
(6) |
Other gains and (losses) |
|
|
2,859 |
|
|
|
5,938 |
|
|
|
3,280 |
|
|
|
146,330 |
(5) |
|
|
453 |
|
|
|
59 |
|
|
|
(150 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income from continuing operations before income taxes |
|
|
(92,582 |
) |
|
|
(40,902 |
) |
|
|
8,767 |
|
|
|
164,653 |
|
|
|
5,655 |
|
|
|
(9,572 |
) |
|
|
9,804 |
|
(Benefit) provision for income taxes |
|
|
(34,763 |
) |
|
|
(10,832 |
) |
|
|
3,989 |
|
|
|
62,665 |
|
|
|
1,046 |
|
|
|
(2,724 |
) |
|
|
6,286 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) income from continuing operations |
|
|
(57,819 |
) |
|
|
(30,070 |
) |
|
|
4,778 |
|
|
|
101,988 |
|
|
|
4,609 |
|
|
|
(6,848 |
) |
|
|
3,518 |
|
Income (loss) from discontinued operations, net of taxes (2) |
|
|
4,181 |
|
|
|
(3,880 |
) |
|
|
(84,213 |
) |
|
|
9,923 |
|
|
|
(245 |
) |
|
|
(458 |
) |
|
|
(91 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(53,638 |
) |
|
$ |
(33,950 |
) |
|
$ |
(79,435 |
) |
|
$ |
111,911 |
|
|
$ |
4,364 |
|
|
$ |
(7,306 |
) |
|
$ |
3,427 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income from continuing operations |
|
$ |
(1.46 |
) |
|
$ |
(0.75 |
) |
|
$ |
0.12 |
|
|
$ |
2.49 |
|
|
$ |
0.11 |
|
|
$ |
(0.17 |
) |
|
$ |
0.09 |
|
Income (loss) from discontinued operations, net of taxes |
|
|
0.11 |
|
|
|
(0.10 |
) |
|
|
(2.08 |
) |
|
|
0.24 |
|
|
|
|
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(1.35 |
) |
|
$ |
(0.85 |
) |
|
$ |
(1.96 |
) |
|
$ |
2.73 |
|
|
$ |
0.11 |
|
|
$ |
(0.18 |
) |
|
$ |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income Per Share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) Income from continuing operations |
|
$ |
(1.46 |
) |
|
$ |
(0.75 |
) |
|
$ |
0.11 |
|
|
$ |
2.41 |
|
|
$ |
0.11 |
|
|
$ |
(0.17 |
) |
|
$ |
0.09 |
|
Income (loss) from discontinued operations, net of taxes |
|
|
0.11 |
|
|
|
(0.10 |
) |
|
|
(2.02 |
) |
|
|
0.24 |
|
|
|
|
|
|
|
(0.01 |
) |
|
|
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income |
|
$ |
(1.35 |
) |
|
$ |
(0.85 |
) |
|
$ |
(1.91 |
) |
|
$ |
2.65 |
|
|
$ |
0.11 |
|
|
$ |
(0.18 |
) |
|
$ |
0.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
As of March 31, |
|
|
2004 |
|
2005 |
|
2006 |
|
2007 |
|
2008 |
|
2008 |
|
2009 |
Balance Sheet Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
2,521,045 |
(7) |
|
$ |
2,532,590 |
(7) |
|
$ |
2,632,510 |
(7) |
|
$ |
2,348,504 |
(7) |
|
$ |
2,560,379 |
|
|
$ |
2,508,109 |
|
|
$ |
2,564,721 |
|
Total debt |
|
|
576,409 |
(8) |
|
|
599,067 |
(8) |
|
|
755,553 |
(8) |
|
|
981,100 |
(8) |
|
|
1,262,901 |
(8) |
|
|
1,165,517 |
(8) |
|
|
1,276,623 |
(8) |
Secured forward exchange contract |
|
|
613,054 |
(7) |
|
|
613,054 |
(7) |
|
|
613,054 |
(7) |
|
|
|
(7) |
|
|
|
|
|
|
|
|
|
|
|
|
Total stockholders equity |
|
|
869,601 |
|
|
|
848,567 |
|
|
|
798,026 |
|
|
|
941,492 |
|
|
|
903,219 |
|
|
|
912,579 |
|
|
|
906,835 |
|
|
|
|
(1) |
|
Preopening costs are related to the Gaylord Texan and Gaylord National, as well as the
rooms renovation program at Gaylord Opryland. Gaylord Texan opened in April 2004, Gaylord
National opened in April 2008, and the Opryland rooms renovation program was completed in
February 2008. |
|
(2) |
|
In August 2001, the Financial Accounting Standards Board (FASB) issued Statement of
Financial Accounting Standard (SFAS) No. 144, Accounting for the Impairment or Disposal of
Long-Lived Assets (SFAS 144). In accordance with the provisions of SFAS 144, we have
presented the operating results and financial position of the following businesses as
discontinued operations for all periods presented: ResortQuest; WSM-FM and WWTN(FM); Word
Entertainment; Acuff-Rose Music Publishing; GET Management, our artist management business;
Oklahoma RedHawks; our international cable networks; the businesses sold to affiliates of The
Oklahoma Publishing Company consisting of Pandora Films, Gaylord Films, Gaylord Sports
Management, Gaylord Event Television and Gaylord Production Company; and our water taxis. |
|
(3) |
|
As described more fully in Operating Results Impairment and other charges under Item 7.
Managements Discussion and Analysis of Financial Condition and Results of Operations, in the
first quarter of 2008, we recorded an impairment charge of $12.0 million related to the
termination of our agreement to purchase the Westin La Cantera Resort, located in San
Antonio, Texas. In the fourth quarter of 2008, we recorded an impairment charge of $4.7
million related to our decision to terminate our plans to develop a resort and convention
hotel in Chula Vista, California. In the fourth quarter of 2008, we incurred a $2.5 million
impairment charge to write off our investment in Waipouli Holdings, LLC. |
|
(4) |
|
Related primarily to employee severance and contract termination costs. |
|
(5) |
|
On May 31, 2007, we completed the sale of all of our ownership interest in Bass Pro
Group, LLC to Bass Pro Group, LLC for a purchase price of $222.0 million in cash and
recognized a pre-tax gain of $140.3 million on the sale. |
|
(6) |
|
During December 2008, we repurchased $45.8 million in aggregate principal amount of our
outstanding senior notes ($28.5 million of 8.00% senior notes and $17.3 million of 6.75%
senior notes) for $25.6 million. After adjusting for accrued interest, deferred financing
costs, and other costs, we recorded a pretax gain of $19.9 million as a result of the
repurchase. During the three months ended March 31, 2009, we repurchased $59.9 million in
aggregate principal amount of our outstanding senior notes ($39.9 million of 8.00% Senior
Notes and $20.0 million of 6.75% Senior Notes) for $43.6 million. After adjusting for accrued
interest, deferred financing costs, and other costs, we recorded a pretax gain of
$16.6 million as a result of the repurchases. |
|
(7) |
|
In 1999 we recognized a pretax gain of $459.3 million as a result of the divestiture of
television station KTVT in Dallas-Ft. Worth in exchange for CBS Series B preferred stock,
which was later converted into 11,003,000 shares of
Viacom Class B common stock, $4.2 million of cash and other consideration. During 2000, we
entered into a seven-year secured forward exchange contract (SFEC) for a notional amount
of $613.1 million with respect to 10,937,900 shares of the Viacom Class B common stock. We
exchanged the 10,937,900 shares of Viacom Class B common stock for 5,468,950 shares of
Viacom Stock and 5,468,950 shares of CBS Stock effective January 3, 2006. During May 2007,
the SFEC matured and we delivered all of the Viacom Stock and CBS Stock to Credit Suisse in
full satisfaction of the $613.1 million debt obligation under the SFEC. As a result, the
debt obligation, Viacom Stock, CBS Stock, put option, call option, and deferred financing
costs related to the SFEC were removed from the consolidated balance sheet during the second
quarter of 2007. The CBS Stock and Viacom Stock were included in
total assets at their
market values of $400.4 million, $356.6 million, and $394.9 million at December 31, 2004,
2005, and 2006, respectively. Prepaid interest related to the secured forward exchange
contract of $64.3 million, $37.3 million, and $10.5 million, was included in total assets at
December 31, 2004, 2005, and 2006, respectively. |
|
(8) |
|
Related primarily to the construction of the Gaylord Palms, the Gaylord Texan and the
Gaylord National. |
6
RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED
DIVIDENDS
The ratio of earnings to fixed charges for each period indicated is set forth in the following
table:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
Three Months Ended March 31, |
|
|
2004 |
|
2005 |
|
2006 |
|
2007 |
|
2008 |
|
2008 |
|
2009 |
Ratio of earnings to fixed charges |
|
|
|
|
|
|
|
|
|
|
1.01x |
|
|
|
2.31x |
|
|
|
|
|
|
|
|
|
|
|
1.45 |
|
The ratio of earnings to fixed charges above is computed by dividing (a) the sum of income
from continuing operations before income taxes, plus fixed charges, plus amortization of
capitalized interest, less interest capitalized, by (b) fixed charges. Fixed charges consist of
interest expense, including capitalized interest, amortization of debt issuance costs and a portion
of operating lease rental expense deemed to be representative of the interest factor. For the years
ended December 31, 2004, 2005, and 2008 and for the three months ended March 31, 2008, earnings were insufficient to cover fixed charges. The
amount of earnings needed to cover fixed charges were
$96.4 million, $41.5 million and $7.6 million
for the years ended December 31, 2004, 2005 and 2008, respectively, and $24.3 million for the three months ended March 31, 2008.
For
the periods indicated above, we had no outstanding shares of preferred stock with required
dividend payments. Therefore, the ratios of earnings to combined fixed charges and preferred stock
dividends are identical to the ratios presented in the table above.
USE OF PROCEEDS
Unless otherwise provided in the applicable prospectus supplement to this prospectus used to
offer specific securities, we expect to use the net proceeds from any offering of securities by us
for general corporate purposes, which may include acquisitions, future development opportunities
for new hotel properties, potential expansions or ongoing maintenance of our existing hotel
properties, investments, the repayment or refinancing of all or a portion of any indebtedness outstanding at a particular
time, and repurchases of outstanding notes. Pending the application of the net proceeds, we expect to invest the proceeds in short-term,
interest-bearing instruments or other investment-grade securities.
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GENERAL DESCRIPTION OF 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, up to $750,000,000 in aggregate offering price of:
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secured or unsecured debt securities, in one or more series, which may be either senior
debt securities, senior subordinated debt securities or subordinated debt securities; |
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guarantees of our obligations under the debt securities; |
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shares of our preferred stock, par value $0.01 per share, in one or more classes or series; |
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shares of our common stock, par value $0.01 per share, in one or more classes; |
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warrants to purchase our debt securities or common or preferred stock; |
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subscription rights to purchase our debt securities or our common or preferred stock; or |
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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 the debt securities as exchangeable and/or convertible debt securities
exchangeable for or convertible into shares of common stock or preferred stock. The preferred stock
may also be exchangeable for and/or convertible into shares of common stock or another series of
preferred stock. The debt securities, the guarantees, the preferred stock, the common stock, the
warrants and the subscription rights are collectively referred to herein as the securities. 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.
DESCRIPTION OF DEBT SECURITIES
We summarize below some of the provisions that will apply to the debt securities unless the
applicable prospectus supplement provides otherwise. This summary may not contain all information
that is important to you. The complete terms of the debt securities will be contained in the
applicable notes. The notes will be included or incorporated by reference as exhibits to the
registration statement of which this prospectus is a part. You should read the provisions of the
notes. You should also read the prospectus supplement, which will contain additional information
and which may update or change some of the information below.
General
The debt securities will be issued under an indenture (the indenture) between us and U.S.
Bank National Association, as trustee. The terms of each series of debt securities will be
established by or pursuant to (a) a supplemental indenture, (b) a resolution of our board of
directors, or (c) an officers certificate pursuant to authority granted under a resolution of our
board of directors. The particular terms of each series of debt securities will be described in a
prospectus supplement relating to such series (including any pricing supplement). In the event of
any discrepancy or conflict between the terms of a particular series of debt securities as set
forth in a prospectus supplement and the terms described in this prospectus, the terms set forth in
the prospectus supplement will govern such series.
We can issue an unlimited amount of debt securities under the indenture. Such debt securities
may be issued in one or more series, with the same or various maturities, at par, at a premium, or
at a discount. We will set forth in a prospectus supplement (including any pricing supplement)
relating to any series of debt securities being offered, the aggregate principal amount and the
following terms of the debt securities:
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the title of the debt securities; |
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the price or prices (expressed as a percentage of the principal amount) at which we will
sell the debt securities; |
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any limit on the aggregate principal amount of the debt securities; |
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the date or dates on which we will pay the principal on the debt securities; |
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the rate or rates (which may be fixed or variable) per annum or the method used to
determine the rate or rates (including any |
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commodity, commodity index, stock exchange index or financial index) at which the debt
securities will bear interest, the date or dates from which interest will accrue, the date or
dates on which interest will commence and be payable and any regular record date for the
interest payable on any interest payment date; |
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the place or places where principal of, or any premium or interest on, the debt securities
will be payable; |
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the terms and conditions upon which we may redeem the debt securities; |
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any obligation we have to redeem or purchase the debt securities pursuant to any sinking
fund or analogous provisions or at the option of a holder of debt securities; |
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the dates on which and the price or prices at which we will repurchase debt securities at
the option of the holders of debt securities and other detailed terms and provisions of these
repurchase obligations; |
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the denominations in which the debt securities will be issued, if other than denominations
of $1,000 and any integral multiple thereof; |
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whether the debt securities will be issued in the form of certificated debt securities or
global debt securities; |
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the portion of principal amount of the debt securities payable upon declaration of
acceleration of the maturity date, if other than the principal amount; |
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the currency of denomination of the debt securities; |
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the designation of the currency, currencies or currency units in which payment of principal
of, premium and interest on the debt securities will be made; |
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if payments of principal of, premium or interest on the debt securities will be made in one
or more currencies or currency units other than that or those in which the debt securities are
denominated, the manner in which the exchange rate with respect to these payments will be
determined; |
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the manner in which the amounts of payment of principal of, or any premium or interest on,
the debt securities will be determined, if these amounts may be determined by reference to an
index based on a currency or currencies other than that in which the debt securities are
denominated or designated to be payable or by reference to a commodity, commodity index, stock
exchange index or financial index; |
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any provisions relating to any security provided for the debt securities; |
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any addition to or change in the Events of Default described in this prospectus or in the
indenture with respect to the debt securities and any change in the acceleration provisions
described in this prospectus or in the indenture with respect to the debt securities; |
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any addition to or change in the covenants described in this prospectus or in the indenture
with respect to the debt securities; |
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any depositaries, interest rate calculation agents, exchange rate calculation agents or
other agents with respect to the debt securities; |
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if different than the date of original issuance of the first debt security of the series,
the date of any temporary global debt security representing outstanding debt securities; |
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whether the debt securities are subject to defeasance; |
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if the debt securities are issuable in definitive form (whether upon original issue or upon
exchange of a temporary debt security) 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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for debt securities to be issued upon the exercise of debt warrants, the time, manner and
place for such debt securities to be authenticated and delivered; |
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whether and under what circumstances we will pay additional amounts to any holder of debt
securities who is not a United States person or entity in respect of any tax, assessment or
governmental charge and, if so, whether we will have the option to redeem such debt securities
rather than pay such additional amounts (and the terms of any such option); |
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any obligation we have to permit the debt securities to be converted into or exchanged for
our common stock, other debt securities or property and the terms and conditions upon which
such conversion or exchange will be effected (including, without limitation, the initial
conversion or exchange price or rate, the conversion or exchange period, any adjustment of the
applicable conversion or exchange price or rate and any requirements relative to the
reservation of such shares for purposes of conversion or exchange); |
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if convertible or exchangeable, any applicable limitations on the ownership or
transferability of the debt securities or property into which such debt securities are
convertible or exchangeable; |
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whether the debt securities are guaranteed and any provisions relating to any guarantee of
the debt securities; and |
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any other terms of the debt securities, which may modify or delete any provision of the
indenture as it applies to that series. |
In addition, the indenture does not limit our ability to issue convertible or subordinated
debt securities. Any conversion or subordination provisions of a particular series of debt
securities will be set forth in the supplemental indenture, board resolution or officers
certificate related to that series of debt securities and will be described in the relevant
prospectus supplement. Such terms may include provisions for conversion, either mandatory, at the
option of the holder or at our option, in which case the number of shares of common stock or other
securities to be received by the holders of debt securities would be calculated as of a time and in
the manner stated in the prospectus supplement.
We may issue debt securities that provide for an amount less than their stated principal
amount to be due and payable upon declaration of acceleration of their maturity pursuant to the
terms of the indenture. We will provide you with information on the federal income tax
considerations and other special considerations applicable to any of these debt securities in the
applicable prospectus supplement.
If we denominate the purchase price of any of the debt securities in a foreign currency or
currencies or a foreign currency unit or units, or if the principal of and any premium and interest
on any series of debt securities is payable in a foreign currency or currencies or a foreign
currency unit or units, we will provide you with information on the restrictions, elections,
general tax considerations, specific terms and other information with respect to that issue of debt
securities and such foreign currency or currencies or foreign currency unit or units in the
applicable prospectus supplement.
Transfer and Exchange
Each debt security will be represented by either (a) one or more global securities registered
in the name of The Depository Trust Company, as Depositary (the Depositary), or a nominee (we
will refer to any debt security represented by a global debt security as a book-entry debt
security), or (b) a certificate issued in definitive registered form (we will refer to any debt
security represented by a certificated security as a certificated debt security) as set forth in
the applicable prospectus supplement. Except as set forth under the heading Global Debt Securities
and Book-Entry System below, book-entry debt securities will not be issuable in certificated form.
Certificated Debt Securities. You may transfer or exchange certificated debt securities at any
office we maintain for this purpose in accordance with the terms of the indenture. No service
charge will be made for any transfer or exchange of certificated debt securities, but we may
require payment of a sum sufficient to cover any tax or other governmental charge payable in
connection with a transfer or exchange.
You may effect the transfer of certificated debt securities and the right to receive the
principal of, premium and interest on certificated debt securities only by surrendering the
certificate representing those certificated debt securities and either reissuance by us or the
trustee of the certificate to the new holder or the issuance by us or the trustee of a new
certificate to the new holder.
Global Debt Securities and Book-Entry System. Each global debt security representing
book-entry debt securities will be deposited with, or on behalf of, the Depositary, and registered
in the name of the Depositary or a nominee of the Depositary.
The Depositary has indicated it intends to follow the following procedures with respect to
book-entry debt securities.
Ownership of beneficial interests in book-entry debt securities will be limited to persons
that have accounts with the Depositary for the related global debt security (participants) or
persons that may hold interests through participants. Upon the issuance of a global debt security,
the Depositary will credit, on its book-entry registration and transfer system, the participants
accounts with the respective principal amounts of the book-entry debt securities represented by
such global debt security beneficially owned by such participants. The accounts to be credited will
be designated by any dealers, underwriters or agents participating in the distribution of the
book-entry debt securities. Ownership of book-entry debt securities will be shown on, and
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the transfer of such ownership interests will be effected only through, records maintained by
the Depositary for the related global debt security (with respect to interests of participants) and
on the records of participants (with respect to interests of persons holding through participants).
The laws of some states may require that certain purchasers of securities take physical delivery of
such securities in definitive form. These laws may impair the ability to own, transfer or pledge
beneficial interests in book-entry debt securities.
So long as the Depositary for a global debt security, or its nominee, is the registered owner
of that global debt security, the Depositary or its nominee, as the case may be, will be considered
the sole owner or holder of the book-entry debt securities represented by such global debt security
for all purposes under the indenture. Except as described below, beneficial owners of book-entry
debt securities will not be entitled to have securities registered in their names, will not receive
or be entitled to receive physical delivery of a certificate in definitive form representing
securities and will not be considered the owners or holders of those securities under the
indenture. Accordingly, each person beneficially owning book-entry debt securities must rely on the
procedures of the Depositary for the related global debt security and, if such person is not a
participant, on the procedures of the participant through which such person owns its interest, to
exercise any rights of a holder under the indenture.
We understand that under existing industry practice, the Depositary will authorize the persons
on whose behalf it holds a global debt security to exercise certain rights of holders of debt
securities, and the indenture provides that we, the trustee and our respective agents will treat as
the holder of a debt security the persons specified in a written statement of the Depositary with
respect to that global debt security for purposes of obtaining any consents or directions required
to be given by holders of the debt securities pursuant to the indenture.
We will make payments of principal of, and premium and interest on book-entry debt securities
to the Depositary or its nominee, as the case may be, as the registered holder of the related
global debt security. We, the trustee and any other agent of ours or agent of the trustee will not
have any responsibility or liability for any aspect of the records relating to or payments made on
account of beneficial ownership interests in a global debt security or for maintaining, supervising
or reviewing any records relating to beneficial ownership interests.
We expect that the Depositary, upon receipt of any payment of principal of, premium or
interest on a global debt security, will immediately credit participants accounts with payments in
amounts proportionate to the respective amounts of book-entry debt securities held by each
participant as shown on the records of such Depositary. We also expect that payments by
participants to owners of beneficial interests in book-entry debt securities held through those
participants will be governed by standing customer instructions and customary practices, as is now
the case with the securities held for the accounts of customers in bearer form or registered in
street name, and will be the responsibility of those participants.
We will issue certificated debt securities in exchange for each global debt security if the
Depositary is at any time unwilling or unable to continue as Depositary or ceases to be a clearing
agency registered under the Exchange Act, and a successor Depositary registered as a clearing
agency under the Exchange Act is not appointed by us within 90 days. In addition, we may at any
time and in our sole discretion determine not to have the book-entry debt securities of any series
represented by one or more global debt securities and, in that event, will issue certificated debt
securities in exchange for the global debt securities of that series. Global debt securities will
also be exchangeable by the holders for certificated debt securities if an Event of Default with
respect to the book-entry debt securities represented by those global debt securities has occurred
and is continuing. Any certificated debt securities issued in exchange for a global debt security
will be registered in such name or names as the Depositary shall instruct the trustee. We expect
that such instructions will be based upon directions received by the Depositary from participants
with respect to ownership of book-entry debt securities relating to such global debt security.
We have obtained the foregoing information concerning the Depositary and the Depositarys
book-entry system from sources we believe to be reliable, but we take no responsibility for the
accuracy of this information.
No Protection In the Event of a Change of Control
Unless otherwise provided by the terms of an applicable series of debt securities, the debt
securities will not contain any provisions which may afford holders of the debt securities
protection in the event we have a change in control or in the event of a highly leveraged
transaction (whether or not such transaction results in a change in control) which could adversely
affect holders of debt securities.
Covenants
We will set forth in the applicable prospectus supplement any restrictive covenants applicable
to any issue of debt securities.
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Consolidation, Merger and Sale of Assets
Unless otherwise provided by the terms of an applicable series of debt securities, we may not
consolidate with or merge with or into, or convey, transfer or lease all or substantially all of
our properties and assets to, any person (a successor person) unless:
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we are the surviving corporation or the successor person (if other than us) is a
corporation organized and validly existing under the laws of any U.S. domestic jurisdiction
and expressly assumes our obligations on the debt securities and under the indenture; |
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immediately after giving effect to the transaction, no Default or Event of Default, shall
have occurred and be continuing under the indenture; and |
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certain other conditions are met. |
Events of Default
Unless otherwise provided by the terms of an applicable series of debt securities, an Event
of Default means any of the following with respect to a series of debt securities:
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default in the payment of any interest upon any debt security of that series when it
becomes due and payable for 30 days; |
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default in the payment of principal of or premium on any debt security of that series when
due and payable; |
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failure to observe or perform any other covenant, representation, warranty or other
agreement applicable to a series and such failure or nonperformance continues for 60
consecutive days following notice thereof; |
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certain defaults under certain of our and our subsidiaries mortgages, indentures or
instruments under which there may be issued or by which there may be secured or evidenced any
debt for money borrowed; |
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certain events of bankruptcy, insolvency or reorganization of ours; and |
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any other Event of Default provided with respect to debt securities of that series that is
described in the applicable prospectus supplement accompanying this prospectus. |
No Event of Default with respect to a particular series of debt securities (except as to
certain events of bankruptcy, insolvency or reorganization) necessarily constitutes an Event of
Default with respect to any other series of debt securities. The occurrence of an Event of Default
may constitute an event of default under our bank credit agreements in existence from time to time.
In addition, the occurrence of certain Events of Default or an acceleration under the indenture may
constitute an event of default under certain of our other indebtedness outstanding from time to
time.
Unless otherwise provided by the terms of an applicable series of debt securities, if an Event
of Default with respect to debt securities of any series at the time outstanding occurs and is
continuing, then the trustee or the holders of at least a majority in principal amount of the
outstanding debt securities of that series may, by a notice in writing to us (and to the trustee if
given by the holders), declare to be due and payable immediately the principal (or, if the debt
securities of that series are discount securities, that portion of the principal amount as may be
specified in the terms of that series) of and accrued and unpaid interest, if any, on all debt
securities of that series. In the case of an Event of Default resulting from certain events of
bankruptcy, insolvency or reorganization, the principal (or such specified amount) of and accrued
and unpaid interest, if any, on all outstanding debt securities will become and be immediately due
and payable without any declaration or other act on the part of the trustee or any holder of
outstanding debt securities. At any time after a declaration of acceleration with respect to debt
securities of any series has been made, but before a judgment or decree for payment of the money
due has been obtained by the trustee, the holders of a majority in principal amount of the
outstanding debt securities of that series may rescind and annul the acceleration if all Events of
Default, other than the non-payment of accelerated principal and interest, if any, with respect to
debt securities of that series, have been cured or waived as provided in the indenture. We refer
you to the prospectus supplement relating to any series of debt securities that are discount
securities for the particular provisions relating to acceleration of a portion of the principal
amount of such discount securities upon the occurrence of an Event of Default.
The indenture provides that the trustee will be under no obligation to exercise any of its
rights or powers under the indenture at the request of any holder of outstanding debt securities,
unless the trustee receives indemnity satisfactory to it against any loss, liability or expense.
Subject to certain rights of the trustee, the holders of a majority in principal amount of the
outstanding debt securities of any series will have the right to 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 that series.
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No holder of any debt security of any series will have any right to institute any proceeding,
judicial or otherwise, with respect to the indenture or for the appointment of a receiver or
trustee, or for any remedy under the indenture, unless:
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that holder has previously given to the trustee written notice of a continuing Event of
Default with respect to debt securities of that series; and |
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the holders of at least 25% in principal amount of the outstanding debt securities of
that series have made a written request, and offered a reasonable indemnity, to the trustee to
institute the proceeding as trustee, and the trustee has not received from the holders of a
majority in principal amount of the outstanding debt securities of that series a direction
inconsistent with that request and has failed to institute the proceeding within 60 days. |
Notwithstanding the foregoing, the holder of any debt security will have an absolute and
unconditional right to receive payment of the principal of, premium and any interest on that debt
security on or after the due dates expressed in that debt security and to institute suit for the
enforcement of payment.
The indenture requires us, within 120 days after the end of our fiscal year, to furnish to the
trustee a statement as to compliance with the indenture. The indenture provides that the trustee
may withhold notice to the holders of debt securities of any series of any Default or Event of
Default (except in payment on any debt securities of that series) with respect to debt securities
of that series if it in good faith determines that withholding notice is in the interest of the
holders of those debt securities.
Modification and Waiver
Unless otherwise provided by the terms of an applicable series of debt securities, we may
modify and amend the indenture with the consent of the holders of at least a majority in principal
amount of the outstanding debt securities of a series affected by the modifications or amendments.
We may not make any modification or amendment without the consent of the holders of each affected
debt security then outstanding if that amendment will:
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change the amount of debt securities whose holders must consent to an amendment, supplement
or waiver; |
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reduce the rate of or extend the time for payment of interest (including default interest)
on any debt security; |
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reduce the principal of or premium on or change the fixed maturity of any debt security or
alter or waive any of the provisions with respect to the redemption of debt securities; |
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reduce the principal amount of discount securities payable upon acceleration of maturity; |
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waive a default in the payment of the principal of, premium or interest on any debt
security (except a rescission of acceleration of the debt securities of any series by the
holders of at least a majority in aggregate principal amount of the then outstanding debt
securities of that series and a waiver of the payment default that resulted from such
acceleration); |
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make the principal of or premium or interest on any debt security payable in currency other
than that stated in the debt security; |
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make any change to certain provisions of the indenture relating to, among other things, the
right of holders of debt securities to receive payment of the principal of, premium and
interest on those debt securities and to institute suit for the enforcement of any such
payment and to waivers or amendments; or |
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waive a redemption payment with respect to any debt security or change any of the
provisions with respect to the redemption of any debt securities. |
Except for compliance with the provisions specified above, the holders of at least a majority
in principal amount of the outstanding debt securities of any series may on behalf of the holders
of all debt securities of that series waive our compliance with provisions of the indenture. The
holders of a majority in principal amount of the outstanding debt securities of any series may on
behalf of the holders of all the debt securities of such series waive any past default under the
indenture with respect to that series and its consequences, except a default in the payment of the
principal of, premium or any interest on any debt security of that series or in respect of a
covenant or provision which cannot be modified or amended without the consent of the holder of each
outstanding debt security of the series affected; provided, however, that the holders of a
majority in principal amount of the outstanding debt securities of any series may rescind an
acceleration and its consequences, including any related payment default that resulted from the
acceleration.
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Additionally,
we may modify or amend the indenture without the consent of any
holders of the
affected series of debt securities then outstanding if that amendment will:
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evidence the succession of another person or entity to the Company or a guarantor, and the
assumption by any such successor of our or the guarantors covenants contained in the
indenture, any debt security guarantee or the debt securities (provided that such succession
is otherwise in compliance with the indenture and applicable law); |
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add covenants for the benefit of the holders of any series of
debt securities or to surrender any right or power conferred in the indenture upon us
or any guarantor; |
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add any additional events of default for the benefit of the holders of any series of debt
securities; |
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permit or facilitate the issuance of debt securities in uncertificated form, provided that
any such action will not adversely affect the interest of the holders of any series of debt
securities in any material respect; |
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add to, change or eliminate any of the provisions of the indenture or any guarantee in
respect of any series of debt securities, provided that any such addition, change or
elimination will (i) neither (A) apply to any debt security created prior to the execution of
such supplemental indenture and entitled to the benefit of such provision, nor (B) modify the
rights of the holder of any such debt security with respect to such provision; or (ii) become
effective only when there is no debt security outstanding; |
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secure the debt securities; |
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establish the form or terms of debt securities as permitted by the indenture, including the
provisions and procedures relating to debt securities convertible into or exchangeable for our
other securities or property; |
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provide for the acceptance of appointment under the indenture by a successor trustee with
respect to the debt securities and to add or change any of the provisions of the indenture or
any guarantee as is reasonable and necessary solely to provide for or facilitate the
administration of the trusts under the indenture by more than one trustee; provided that such
succession is otherwise in compliance with the indenture and applicable law; |
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cure any ambiguity, defect or inconsistency; |
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provide for uncertificated debt securities in addition to or in place of certificated debt
securities or to alter the terms of the debt securities set forth in the indenture in a manner
that does not materially adversely affect any holder of debt securities; |
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provide for the assumption of our obligations to the holders of the debt securities by a
successor to the Company pursuant to the indenture; |
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make any change that would provide additional rights or benefits, or that does not
adversely affect the legal rights hereunder, of the holders of each series of debt securities;
or |
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comply with requirements of the Commission in order to effect or maintain the qualification
of the indenture under the Trust Indenture Act of 1939. |
Defeasance of Debt Securities and Certain Covenants in Certain Circumstances
Legal Defeasance. The indenture provides that, unless otherwise provided by the terms of the
applicable series of debt securities, we may be discharged from any and all obligations in respect
of the debt securities of any series (except for certain obligations to register the transfer or
exchange of debt securities of such series, to replace stolen, lost or mutilated debt securities of
such series, and to maintain paying agencies and certain provisions relating to the treatment of
funds held by paying agents). We will be so discharged upon the deposit with the trustee, in trust,
of cash and/or non-callable Government Securities in such amounts as will be sufficient in the
opinion of a nationally recognized firm of independent public accountants to pay and
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discharge each installment of principal, premium and interest on the debt securities of that
series on the stated maturity of those payments in accordance with the terms of the indenture and
those debt securities.
This discharge may occur only if, among other things, we have delivered to the trustee an
opinion of counsel stating that we have received from, or there has been published by, the United
States Internal Revenue Service a ruling or, since the date of execution of the indenture, there
has been a change in the applicable United States federal income tax law, in either case to the
effect that, and based thereon such opinion shall confirm that, the holders of the debt securities
of that series will not recognize income, gain or loss for United States federal income tax
purposes as a result of the deposit, defeasance and discharge and will be subject to United States
federal income tax on the same amounts and in the same manner and at the same times as would have
been the case if the deposit, defeasance and discharge had not occurred.
Defeasance of Certain Covenants. The indenture provides that, unless otherwise provided by the
terms of the applicable series of debt securities, upon compliance with certain conditions:
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we may omit to comply with the covenant described under the heading Consolidation, Merger
and Sale of Assets and certain other covenants set forth in the indenture, as well as any
additional covenants which may be set forth in the applicable prospectus supplement; and |
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any omission to comply with those covenants will not constitute a Default or an Event of
Default with respect to the debt securities of that series (covenant defeasance) |
The conditions include:
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depositing with the trustee cash and/or non-callable Government Securities in such amounts
as will be sufficient in the opinion of a nationally recognized firm of independent public
accountants to pay and discharge each installment of principal of, premium and interest on the
debt securities of that series on the stated maturity of those payments in accordance with the
terms of the indenture and those debt securities; and |
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delivering to the trustee an opinion of counsel to the effect that the holders of the debt
securities of that series will not recognize income, gain or loss for United States federal
income tax purposes as a result of the deposit and related covenant defeasance and will be
subject to United States federal income tax on the same amounts and in the same manner and at
the same times as would have been the case if the deposit and related covenant defeasance had
not occurred. |
Covenant Defeasance and Events of Default. In the event we exercise our option to effect covenant
defeasance with respect to any series of debt securities and the debt securities of that series are
declared due and payable because of the occurrence of any Event of Default, the amount of money
and/or U.S. Government Obligations or Foreign Government Obligations on deposit with the trustee
will be sufficient to pay amounts due on the debt securities of that series at the time of their
stated maturity but may not be sufficient to pay amounts due on the debt securities of that series
at the time of the acceleration resulting from the Event of Default. However, we shall remain
liable for those payments.
Government Securities means, securities issued or directly and fully guaranteed or insured by the
United States government or any agency or instrumentality of the United States government (provided
that the full faith and credit of the United States is pledged in support of those securities), and
additionally, in respect of any Series of Securities denominated in other than United States
dollars, securities issued or directly and fully guaranteed or insured by the government in whose
currencies such Series of Securities are denominated (which in the case of the Euro shall be deemed
to include any government whose functional currency is the Euro).
Governing Law
The indenture and the debt securities will be governed by, and construed in accordance with,
the internal laws of the State of New York.
DESCRIPTION OF GUARANTEES
Our
wholly-owned subsidiaries listed as co-registrants on our registration statement may in
whole or in part enter into guarantees of our obligations under the debt securities on terms which
will be described in any applicable prospectus supplement.
DESCRIPTION OF COMMON STOCK
We summarize below some of the provisions that will apply to our common stock unless the
applicable prospectus supplement provides otherwise. This summary may not contain all information
that is important to you. The complete terms of
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the common stock will be contained in the prospectus supplement. You should read the
prospectus supplement, which will contain additional information and which may update or change
some of the information below.
General
Our restated certificate of incorporation, as amended, provides that we have authority to
issue up to 150.0 million shares of common stock, par value $0.01 per share. As of April 30, 2009, there
were 40,953,730 shares of our common stock issued and outstanding, with associated preferred stock
purchase rights under a shareholder rights plan described below. Holders of common stock are
entitled to one vote for each share of common stock held of record on all matters on which
stockholders are entitled to vote. There are no cumulative voting rights and holders of common
stock do not hold preemptive rights. All issued and outstanding shares of common stock are validly
issued, fully paid and nonassessable. Holders of common stock are entitled to such dividends as may
be declared from time to time by the board of directors out of funds legally available for that
purpose. Upon dissolution, holders of common stock are entitled to share pro rata in our assets
remaining after payment in full of all our liabilities and obligations, including the payment of
liquidation preference, if any, on any preferred stock then outstanding.
Our common stock is quoted on the New York Stock Exchange under the symbol GET.
Impact of Preferred Stock Issuances on Common Stock
Our board of directors, without further action by the stockholders, is authorized to issue up
to 100.0 million shares of preferred stock in one or more series and to designate as to any such
series the dividend rate, redemption prices, preferences on liquidation or dissolution, conversion
rights, voting rights, and any other preferences, and relative, participating, optional, or other
special rights and qualifications, limitations, or restrictions. The rights of the holders of our
common stock are subject to, and may be affected adversely by, the rights of the holders of any
preferred stock that may be issued in the future. Issuance of a new series of preferred stock,
while providing desirable flexibility in connection with possible acquisitions or other corporate
purposes, could have the effect of making it more difficult for a third party to acquire, or of
discouraging a third party from acquiring, a majority of our outstanding voting stock. See
"Shareholder Rights Plan and Description of Preferred StockSeries A Junior Participating
Preferred Stock below for a discussion of our shareholder rights plan and the related preferred
stock purchase rights associated with our common stock.
Transfer Agent and Registrar
We have appointed Computershare Investor Services, LLC as the Transfer Agent and Registrar for
our common stock.
Redemption Provision
Because of our ownership of a radio station, applicable law requires that the total percentage
of shares of our capital stock owned of record or voted by non-United States persons or entities
shall not exceed 25% and contains certain other restrictions on stock ownership. Under Article
IV(D) of the certificate of incorporation, we have the right to prohibit the ownership or voting,
or to redeem outstanding shares, of our capital stock if the board of directors determines that
such prohibition or redemption is necessary to prevent the loss or secure the reinstatement of any
governmental license or franchise held by us or to otherwise comply with the Communications Act of
1934 or any other similar legislation affecting us.
Certain Certificate of Incorporation and Bylaw Provisions
General
Certain provisions of the certificate of incorporation and our bylaws could have an
anti-takeover effect. These provisions are intended to enhance the likelihood of continuity and
stability in the composition of our board of directors and in the policies formulated by our board
of directors and to discourage certain types of transactions described below, which may involve an
actual or threatened change of control. The provisions are designed to reduce the vulnerability of
the Company to an unsolicited proposal for a takeover that does not contemplate the acquisition of
all of our outstanding shares or an unsolicited coercive or abusive proposal for the restructuring
or sale of all or part of the Company. The provisions are also intended to discourage certain
coercive or abusive tactics that may be used in proxy fights.
Special Meetings of Stockholders; Action by Written Consent
The certificate of incorporation provides that no action may be taken by stockholders except
at an annual or special meeting of stockholders and prohibits action by written consent in lieu of
a meeting. The certificate of incorporation also provides that special meetings of stockholders may
be called only by the Chairman or by a majority of the members of our board of directors. These
provisions make it more difficult for stockholders to take action opposed by our board of
directors.
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Advance Notice Requirements for Stockholder Proposals and Director Nominations
The bylaws establish an advance notice procedure for the nomination, other than by or at the
direction of our board of directors or a committee thereof, of candidates for election as directors
as well as for other stockholder proposals to be considered at stockholders annual meetings. These
limitations on stockholder proposals do not restrict a stockholders right to include proposals in
our annual meeting proxy materials pursuant to rules promulgated under the Exchange Act. The
purpose of requiring advance notice is to afford our board of directors an opportunity to consider
the qualifications of the proposed nominees or the merits of other stockholder proposals and, to
the extent deemed necessary or desirable by our board of directors, to inform stockholders about
those matters.
Certificate of Incorporation and Bylaws Amendments
The certificate of incorporation requires the affirmative vote of the holders of at least 66
2/3% of the voting power of our capital stock in order to amend certain of its provisions,
including any provisions concerning (a) the election and removal of directors, (b) the amendment of
the bylaws, (c) any proposed compromise or arrangement between us and our creditors, (d) the
withholding of the rights of stockholders to act by written consent or to call a special meeting,
(e) the limitations of liability of directors and indemnification of directors, officers, employees
and agents and (f) the percentage of votes represented by capital stock required to approve certain
amendments to the certificate of incorporation. These voting requirements will make it more
difficult for stockholders to make changes in the certificate of incorporation that would be
designed to facilitate the exercise of control over the Company. In addition, the requirement of
approval by at least a 66 2/3% stockholder vote will enable the holders of a minority of the voting
securities of the Company to prevent the holders of a majority or more of such securities from
amending such provisions.
In addition, the certificate of incorporation provides that stockholders may only amend the
bylaws by the affirmative vote of 66 2/3% of our outstanding voting stock.
Shareholder Rights Plan
On August 12, 2008, our board of directors adopted a shareholder rights plan, which was
amended and restated on March 9, 2009. The shareholder rights plan is designed to protect against
any potential future use of coercive or abusive takeover techniques designed to gain control of the
Company without full and fair value being paid to all of the companys stockholders. In connection
with the adoption of the shareholder rights plan, our board of directors declared a dividend of one
right for each share of the Companys common stock held by stockholders of record as of the close
of business on August 25, 2008. These rights will generally be exercisable only if a person or
group acquires beneficial ownership of 22% or more of our common stock or commences a tender or
exchange offer for 22% or more of our common stock. If a person or group acquires beneficial
ownership of 22% or more of our common stock, each right will generally entitle stockholders other
than the acquiring person or group to acquire, for an exercise price of $95.00 per right (subject
to adjustment as provided in the plan), shares of our common stock (or, in certain circumstances,
shares of Series A Junior Preferred Stock, as described below in Description of Preferred Stock
Series A Junior Participating Preferred Stock) having a market value equal to twice the rights
then-current exercise price. In addition, if, after a person acquires such ownership, the Company
engages in a merger in which it is not the surviving entity or its common stock is changed or
exchanged, or sells or transfers more than 50 percent of its assets or earning power, each right
will generally entitle the stockholder, other than the acquiring person or group, to acquire, for
the exercise price of $95.00 per right (subject to adjustment as provided in the plan), shares of
the acquiring the Companys common stock having a market value equal to twice the rights then-current
exercise price.
Our board of directors may redeem the rights at a price of $0.001 per right at any time up to
ten days after a person or group acquires beneficial ownership of 22% or more of our common stock.
Additionally, the shareholder rights plan provides that, in the event that the Company receives a
Qualified Offer (as defined below), our board of directors may, but is not obligated to, call a
special meeting of stockholders for the purpose of voting on a resolution to accept the Qualified
Offer and to authorize the redemption of the outstanding rights issued pursuant to the provisions
of the rights plan. Such an action by stockholders would require the affirmative vote of the
holders of a majority of the shares of the Companys common stock outstanding as of the record date
for the special meeting (excluding for purposes of this calculation shares of the Companys common
stock owned by the person making the Qualified Offer). If either (i) such a special meeting is not
held within 105 business days following commencement of the Qualified Offer or (ii) at such a
special meeting the Companys stockholders approve such action as set forth above, the rights plan
provides that all of the outstanding rights will be redeemed.
Under the shareholder rights plan, a Qualified Offer is a tender or exchange offer for all
of the Companys outstanding common stock in which the same consideration per share is offered for
all shares of common stock that (i) is fully financed, (ii) has an offer price per share exceeding
the greater of: (x) an amount that is 25% higher than the 12-month moving average closing price of the Companys common stock,
and (y) an amount that is 25% higher than the closing price of the Companys common stock on the day immediately preceding
commencement of the offer, (iii) generally remains open until at least the earlier of (x) 106
business days following the commencement of the offer, or (y) the business day immediately
following the date on which the results of the vote adopting any
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redemption resolution at any special meeting of stockholders (as described below) is
certified, (iv) is conditioned on the offeror being tendered at least 51% of our common stock not
held by the offeror, (v) assures a prompt second-step acquisition of shares not purchased in the
initial offer at the same consideration as the initial offer, (vi) is only subject to customary
closing conditions, and (vii) meets certain other requirements set forth in the shareholder rights
plan.
The shareholder rights plan will continue in effect until August 12, 2011, unless earlier
redeemed or amended by our board of directors to the extend permitted by the shareholder rights
plan or redeemed in connection with a Qualified Offer pursuant to the terms of the shareholder
rights plan.
The shareholder rights plan is more fully described in our Current Reports on Form 8-K filed
on August 13, 2008 and March 10, 2009 that are incorporated by reference herein.
Anti-Takeover Effects of Delaware Law
We are subject to Section 203 of the Delaware General Corporation Law, which regulates
corporate acquisitions. In general, Section 203 prohibits a publicly held Delaware corporation from
engaging in a business combination with an interested stockholder for a period of three years
following the date the person became an interested stockholder, unless:
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the board of directors approved the transaction in which the stockholder became an
interested stockholder prior to the date the interested stockholder attained such status; |
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upon consummation of the transaction that 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 shares owned by
(i) persons who are directors and also officers and (ii) employee stock plans in which
employee participants do not have the right to determine confidentially whether shares held
subject to the plan will be tendered in a tender or exchange offer; or |
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the business combination is approved by a majority of the board of directors and by the
affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by
the interested stockholder. |
Pursuant to the terms of a settlement agreement dated March 9, 2009, entered into between the
Company and TRT Holdings, Inc. (TRT), our board of directors adopted a resolution approving, for
purposes of Section 203 of the Delaware General Corporation Law, the acquisition by TRT and its
affiliates of additional shares of the Companys common stock in excess of 15% of the outstanding
stock of the Company and providing that TRT and its affiliates would not be an interested
stockholder as defined by Section 203.
DESCRIPTION OF PREFERRED STOCK
We summarize below some of the provisions that will apply to the preferred stock unless the
applicable prospectus supplement provides otherwise. This summary may not contain all information
that is important to you. The complete terms of the preferred stock will be contained in the
prospectus supplement. You should read the prospectus supplement, which will contain additional
information and which may update or change some of the information below.
General
We have authority to issue 100.0 million shares of preferred stock. As of May 6, 2009, no shares
of our preferred stock were outstanding, though, as described below under Series A Junior
Participating Preferred Stock, we have designated a series of 10.0 million shares of preferred stock
in connection with our shareholder rights plan. Our board of directors, without further action by
the stockholders, is authorized to issue up to 100.0 million shares of preferred stock in one or more
series and to designate as to any such series the dividend rate, redemption prices, preferences on
liquidation or dissolution, conversion rights, voting rights, and any other preferences, and
relative, participating, optional, or other special rights and qualifications, limitations, or
restrictions.
The applicable prospectus supplement will describe the terms of any series of preferred stock
being offered, including:
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the number of shares and designation or title of the shares; |
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any liquidation preference per share; |
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any redemption, repayment or sinking fund provisions; |
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any dividend rate or rates payable with respect to the shares; |
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the terms and conditions upon which the preferred stock is convertible or exchangeable, if
it is convertible or exchangeable; |
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any conditions or restrictions on the creation of indebtedness by us or upon the issuance
of any additional stock; and |
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any additional preferences, conversion or other rights, voting powers, restrictions,
limitations as to dividends, qualifications, or terms or conditions of redemption. |
All shares of preferred stock offered will, when issued against payment of the consideration
payable therefor, be fully paid and non-assessable.
The summaries above of selected provisions of our common stock and preferred stock are not
complete. Those summaries are subject to, and are qualified entirely by, the provisions of our
certificate of incorporation, bylaws and debt agreements, all of which are included or incorporated
by reference as exhibits to the registration statement of which this prospectus is a part. You
should read our certificate of incorporation, bylaws and debt agreements. The applicable prospectus
supplement may also contain a summary of selected provisions of our preferred stock, common stock
and debt agreements. To the extent that any particular provision described in a prospectus
supplement differs from any of the provisions described in this prospectus, then the provisions
described in this prospectus will be deemed to have been superseded by that prospectus supplement.
Certain Certificate of Incorporation and Bylaw Provisions
See Description of Common Stock Certain Certificate of Incorporation and Bylaw
Provisions.
Series A Junior Participating Preferred Stock
In
connection with the adoption of the Companys shareholder rights plan as described in
Description of Common Stock Shareholder Rights Plan, on August 12, 2008, the Company
designated 10.0 million shares of preferred stock as Series A Junior Participating Preferred Stock.
Each right under the shareholder rights plan will, once exercisable under certain circumstances,
allow its holder to purchase from the Company one one-hundredth of a share of Series A Junior
Participating Preferred Stock. Each one one-hundredth of a share of Series A Junior Participating
Preferred Stock, if issued:
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will not be redeemable; |
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will entitle holders to quarterly dividend payments of $.01 per one one-hundredth of a
share, or an amount equal to the dividend paid on one share of common stock, whichever is
greater; |
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will entitle holders upon liquidation either to receive $1 per one one-hundredth of a share
or an amount equal to the payment made on one share of common stock, whichever is greater; |
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will have the same voting power as one share of common stock; and |
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if shares of the Companys common stock are exchanged via merger, consolidation, or a
similar transaction, will entitle holders to a per share payment equal to the payment made on
one share of common stock. |
The value of one one-hundredth of a share of Series A Junior Participating Preferred Stock
will generally approximate the value of one share of common stock.
DESCRIPTION OF WARRANTS
We summarize below some of the provisions that will apply to the warrants unless the
applicable prospectus supplement provides otherwise. This summary may not contain all information
that is important to you. The complete terms of the warrants will be contained in the applicable
warrant certificate and warrant agreement. These documents have been or will be included or
incorporated by reference as exhibits to the registration statement of which this prospectus is a
part. You should read the warrant certificate and the warrant agreement. You should also read the
prospectus supplement, which will contain additional information and which may update or change
some of the information below.
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General
We may issue warrants to purchase debt securities or shares of common or preferred stock
independently or together with other securities. The warrants may be attached to or separate from
the other securities. We may issue warrants in one or more series. Each series of warrants will be
issued under a separate warrant agreement to be entered into between us and a warrant agent. The
warrant agent will be our agent and will not assume any obligations to any holder or beneficial
owner of the warrants.
The prospectus supplement and the warrant agreement relating to any series of warrants will
include specific terms of the warrants. These terms include the following:
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the title and aggregate number of warrants; |
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the price or prices at which the warrants will be issued; |
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the amount of debt securities or common or preferred stock for which the warrant can be
exercised and the price or the manner of determining the price or other consideration to
purchase the debt securities or common or preferred stock; |
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the date on which the right to exercise the warrant begins and the date on which the right
expires; |
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if applicable, the minimum or maximum amount of warrants that may be exercised at any one
time; |
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if applicable, the designation and terms of the securities with which the warrants are
issued and the number of warrants issued with each other security; |
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any provision dealing with the date on which the warrants and related securities will be
separately transferable; |
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any mandatory or optional redemption provision; |
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the identity of the warrant agent; and |
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any other terms of the warrants. |
The warrants will be represented by certificates. The warrants may be exchanged under the
terms outlined in the warrant agreement. We will not charge any service charges for any transfer or
exchange of warrant certificates, but we may require payment for tax or other governmental charges
in connection with the exchange or transfer. Unless the prospectus supplement states otherwise,
until a warrant is exercised, a holder will not be entitled to any payments on or have any rights
with respect to the debt securities or common or preferred stock acquirable upon exercise of such
warrant.
Exercise of Warrants
To exercise the warrants, the holder must provide the warrant agent with the following:
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payment of the exercise price; |
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any required information described on the warrant certificates; |
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the number of warrants to be exercised; |
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an executed and completed warrant certificate; and |
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any other items required by the warrant agreement. |
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 amount of debt securities or common or preferred 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 dividend or a combination, subdivision or
reclassification of capital stock. Unless the prospectus supplement states otherwise, no adjustment
will be required until cumulative adjustments require an adjustment of at least 1%. From time to
time, we may reduce the exercise price as may be provided in the warrant agreement.
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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 debt securities or common or preferred stock,
other securities, property or cash receivable by a holder of the amount of debt securities or
common or preferred stock into which the warrants were exercisable immediately prior to the
occurrence of the event.
Modification of the Warrant Agreement
The warrant agreement will permit us and the warrant agent, without the consent of the warrant
holders, to supplement or amend the agreement in the following circumstances:
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to correct or supplement any provision which may be defective or inconsistent with any
other provisions; or |
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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 SUBSCRIPTION RIGHTS
The following description of subscription rights provides certain general terms and provisions
of subscription rights that we may offer. Each series of subscription rights will be issued under a
separate rights agreement to be entered into between us and a bank or trust company, as rights
agent, all as set forth in the prospectus supplement relating to the particular issue of
subscription rights. The rights agent will act solely as our agent in connection with the
certificates relating to the subscription rights of such series and will not assume any obligation
or relationship of agency or trust for or with any holders of subscription rights certificates or
beneficial owners of subscription rights. These subscription rights may be issued independently or
together with any other security offered hereby and may be attached to or separate from such
security. These subscription rights may or may not be transferable by the person receiving the
subscription rights in such offering. In connection with any offering of subscription rights, we
may enter into a standby underwriting, backstop, or other arrangement with one or more underwriters
or other persons pursuant to which the underwriters or other persons may be required to purchase
all or a portion of any securities remaining unsubscribed for after such offering.
Certain other terms of any subscription rights will be described in the applicable prospectus
supplement. To the extent that any particular terms of any subscription rights described in a
prospectus supplement differ from any of the terms described in this prospectus, then those
particular terms described in this prospectus shall be deemed to have been superseded by that
prospectus supplement. The description in the applicable prospectus supplement of any subscription
rights we offer will not necessarily be complete and will be qualified in its entirety by reference
to the applicable subscription rights certificate, which will be filed as an exhibit to the
registration statement of which this prospectus is a part or to a document that is incorporated or
deemed to be incorporated by reference in this prospectus. For more information on how you may
obtain copies of any subscription rights certificate if we offer subscription rights, see Where
You Can Find Additional Information. We urge you to read the applicable subscription rights
certificate and any applicable prospectus supplement in their entirety.
General
Reference is made to the applicable prospectus supplement for the terms of the subscription
rights to be offered, including (where applicable):
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the date for determining the stockholders entitled to the subscription rights
distribution; |
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the price, if any, for the subscription rights; |
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the exercise price, or a formula for the determination of the exercise price, payable
for each share of common stock, share of preferred stock or debt security upon the exercise
of the subscription rights; |
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the title and number of subscription rights issued; |
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the number and terms of the shares of common stock or preferred stock or the amount and
terms of the debt securities which may be purchased per subscription right; |
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the extent to which the subscription rights are transferable; |
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the date on which the right to exercise the subscription rights shall commence, and the
date on which the subscription rights shall expire (subject to any extension); |
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the extent to which the subscription rights may include an over-subscription privilege
with respect to unsubscribed securities; |
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if applicable, the material terms of any standby underwriting, backstop or other
purchase arrangement entered into by us in connection with the offering of subscription
rights; |
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if applicable, the procedures for adjusting the exercise price and number of shares of
common stock or preferred stock purchasable upon the exercise of each subscription right
upon the occurrence of certain events, including stock splits, reverse stock splits,
combinations, subdivisions or reclassifications of common stock or preferred stock; |
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the effect of any merger, consolidation, sale or other disposition of our business on
the subscription rights; |
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the terms of any rights to redeem or call the subscription rights; |
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if applicable, a discussion of certain U.S. federal income tax consequences; and |
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any other terms of the subscription rights, including the terms, procedures and
limitations relating to the exercise of the subscription rights. |
Exercise of Subscription Rights
Each subscription right will entitle the holder to purchase such number of share of common
stock or preferred stock or such amount of debt securities, as the case may be, at such exercise
price as shall be set forth in, or shall be determinable as set forth in, the applicable prospectus
supplement. Subscription rights may be exercised at the times and in the manner set forth in the
applicable prospectus supplement. After the close of business on the expiration date set forth in
the applicable prospectus supplement, the subscription rights will become void. The applicable
prospectus supplement will specify how the exercise price of any subscription right is to be paid.
Upon receipt of payment of the exercise price and, if required, the certificate representing the
subscription rights being exercised properly completed and duly executed at the office or agency
designated for that purpose, we will promptly deliver the securities to be delivered upon such
exercise. If less than all of the subscription rights represented by such subscription certificate
are exercised, a new subscription certificate will be issued for the remaining subscription rights.
If we so indicate in the applicable prospectus supplement, holders of the subscription rights may
surrender securities as all or part of the exercise price for subscription rights. We may determine
to offer any unsubscribed offered securities directly to stockholders, persons other than
stockholders, to or through agents, underwriters or dealers or through a combination of such
methods, including pursuant to standby underwriting, backstop or other arrangements, as set forth
in the applicable prospectus supplement.
No Rights as Holders of Shares or Debt Securities
Holders of subscription rights to purchase shares of common stock or preferred stock will not
be entitled, by virtue of being such holders, to vote, consent or receive notice as holders of our
outstanding shares in respect of any meeting of holders of our shares for the election of our
directors or any other matter, or to exercise any other rights whatsoever as holders of our shares,
or to receive any distributions, if any, on our shares. Holders of subscription rights to purchase
debt securities will not be entitled, by virtue of being such holders, to receive principal,
premium, if any, or interest payments, on the debt securities purchasable upon exercise or to
enforce covenants in the applicable indenture.
PLAN OF DISTRIBUTION
We may sell the securities from time to time in one or more transactions, including block
transactions and transactions on the New York Stock Exchange or on a delayed or continuous basis,
in each case, through agents, underwriters or dealers, directly to one or more purchasers, through
a combination of any of these methods of sale, or in any other manner, as provided in the
applicable prospectus supplement. The securities may be sold at a fixed price or prices, which may
be changed, or at market prices prevailing at the time of sale, at prices relating to the
prevailing market prices or at negotiated prices. The consideration may be cash or another form
negotiated by the parties. Agents, underwriters or broker-dealers may be paid compensation for
offering and selling the securities. That compensation may be in the form of discounts, concessions
or commissions to be received from us or from the purchasers of the securities. We will identify
the specific plan, including any underwriters, dealers, agents or direct purchasers and their
compensation, in the applicable prospectus supplement. Underwriters, dealers and agents
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participating in the distribution of the securities may be deemed to be underwriters, and any
discounts and commissions received by them from us or from purchasers of the securities and any
profit realized by them on resale of the securities may be deemed to be underwriting discounts and
commissions under the Securities Act. If such dealers or agents were deemed to be underwriters,
they may be subject to statutory liabilities under the Securities Act. Underwriters, dealers and
agents may be entitled, under agreements entered into with us, to indemnification against and
contribution toward certain civil liabilities, including liabilities under the Securities Act.
Offers to purchase the securities may be solicited by agents designated by us from time to
time. Any such agent involved in the offer or sale of the securities will be named, and any
commissions payable by the Company to such agent will be set forth in the prospectus supplement.
Unless otherwise indicated in the prospectus supplement, any such agent will be acting on a best
efforts basis for the period of its appointment. Any such agent may be deemed to be an underwriter,
as that term is defined in the Securities Act, of the securities so offered and sold.
If an underwriter or underwriters are utilized in the sale of securities, we will execute an
underwriting agreement with such underwriter or underwriters at the time an agreement for such sale
is reached, and the names of the specific managing underwriter or underwriters, as well as any
other underwriters, and the terms of the transactions, including compensation of the underwriters
and dealers, if any, will be set forth in the prospectus supplement, which will be used by the
underwriters to resell the securities.
If a dealer is utilized in the sale of the securities, we will sell such securities to the
dealer, as principal. The dealer may then resell such securities to the public at varying prices to
be determined by such dealer at the time of resale. The name of the dealer and the terms of the
transactions will be set forth in the prospectus supplement relating thereto.
Offers to purchase the securities may be solicited directly by us and sales thereof may be
made by us directly to institutional investors or others. The terms of any such sales, including
the terms of any bidding or auction prices, if utilized, will be described in the prospectus
supplement relating thereto.
Agents, underwriters and dealers may be entitled under agreements that may be entered into
with us to indemnification by us against certain liabilities, including liabilities under the
Securities Act, and any such agents, underwriters or dealers, or their affiliates may be customers
of, engage in transactions with or perform services for us in the ordinary course of business.
The securities may also be resold by security holders in the manner provided in the applicable
prospectus supplement.
LEGAL MATTERS
Certain legal matters will be passed upon for Gaylord by Bass, Berry & Sims PLC, Nashville,
Tennessee, and by Carter R. Todd, Esq., Executive Vice President, General Counsel and Secretary of
the Company, as to certain of our subsidiaries that may guarantee our debt securities. Any
underwriters or agents will be represented by their own legal counsel, who will be identified in
the applicable prospectus supplement.
EXPERTS
Ernst & Young LLP, independent registered public accounting firm, has audited our consolidated
financial statements and schedules included in our Annual Report on Form 10-K for the year ended
December 31, 2008 and the effectiveness of our internal control
over financial reporting as of December 31, 2008, as set forth in their reports, which are incorporated by reference in this
prospectus and elsewhere in the registration statement. Our financial statements and schedules are incorporated by reference in reliance on Ernst & Young LLPs reports, given
on their authority as experts in accounting and auditing.
23
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution.
The following table sets forth an estimate of costs and expenses to be paid by us in
connection with the distribution of the securities being registered by this registration statement.
In addition to the costs and expenses estimated below, we may pay any selling commissions and
brokerage fees and any applicable fees and disbursements with respect to securities registered by
this registration statement that we may sell, but these fees cannot be predicted with any certainty
at this time. All of the amounts shown other than the Securities and Exchange Commission fee are estimates:
|
|
|
|
|
Securities and Exchange Commission Fee |
|
$ |
41,850 |
|
Printing and Engraving Expenses |
|
|
25,000 |
|
Legal Fees and Expenses |
|
|
50,000 |
|
Accounting Fees and Expenses |
|
|
50,000 |
|
New York Stock Exchange Fees |
|
|
30,000 |
|
Trustee Fees |
|
|
30,000 |
|
Miscellaneous |
|
|
8,150 |
|
|
|
|
|
Total |
|
$ |
235,000 |
|
|
|
|
|
Item 15. Indemnification of Directors and Officers.
Delaware Registrants
The following registrants are, as specified below, corporations, limited liability companies
or limited partnerships organized under the laws of the State of Delaware: Gaylord Entertainment
Company (the Company), Country Music Television International, Inc., Gaylord Creative Group,
Inc., Gaylord Finance, Inc., Gaylord Hotels, Inc., Gaylord Investments, Inc., Gaylord Program
Services, Inc. and Opryland Theatricals, Inc. (the Delaware Corporate Registrants) and CCK
Holdings, LLC, Gaylord Destin Resorts, LLC, Gaylord Mesa, LLC, Gaylord Mesa
Convention Center, LLC, Grand Ole Opry, LLC, OLH Holdings, LLC, Opryland Attractions, LLC, Opryland
Hotel Nashville, LLC and Opryland Hotel-Texas, LLC (the Delaware LLC Registrants) and Opryland
Hotel-Texas Limited Partnership (the Delaware LP Registrant).
Section 145 of the Delaware General Corporation Law (the DGCL) permits a Delaware
corporation to 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 the corporation) by
reason of the fact that he or she 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, employee
or agent of another corporation or enterprise. A corporation may indemnify against expenses,
(including attorneys fees) judgments, fines and amounts paid in settlement actually and reasonably
incurred in connection with such action, suit or proceeding if the person indemnified acted in good
faith and in a manner he or she reasonably believed to be in or not opposed to the best interests
of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause
to believe his or her conduct was unlawful. In the case of an action or suit by or in the right of
the corporation to procure a judgment in its favor, no indemnification may be made in respect to
any claim, issue or matter as to which such person shall have been adjudged to be liable to the
corporation unless and only to the extent that the Court of Chancery of the State of Delaware, or
the court in which such action or suit was brought, shall determine upon application that, despite
the adjudication of liability, such person is fairly and reasonably entitled to indemnity for such
expenses which the court shall deem proper. Section 145 provides that, to the extent a present or
former director or officer of a corporation has been successful in the defense of any action, suit
or proceeding referred to above or in the defense of any claim, issue or manner therein, he or she
shall be indemnified against expenses (including attorneys fees) actually and reasonably incurred
by him or her in connection therewith. Section 18-108 of the Delaware Limited Liability Company
Act, empowers a Delaware limited liability company to indemnify and hold harmless any member or
manager or other person from and against any and all claims and demands whatsoever. Section 17-108 of
the Delaware Revised Uniform Limited Partnership Act, or the LP Act, empowers a Delaware limited
partnership to indemnify and hold harmless any partner or other person from and against any and all
claims and demands whatsoever.
Pursuant to authority conferred by Delaware law, the Delaware Corporate Registrants
certificates of incorporation, the Delaware LLC Registrants certificates of formation and the
Delaware Limited Partnerships limited partnership agreement, contain provisions providing that no
director, manager or limited partner, as the case may be, shall be liable to it or its
stockholders, members or partners, as the case may be, for monetary damages for breach of fiduciary
duty as a director, member or partner, as the case may be, except to the extent that such exemption
from liability or limitation thereof is not permitted under Delaware law as then in effect or as it
may be amended, or, generally in the case of the Delaware LLC Registrants, except to the extent that such
breach is due to fraud, willful misconduct, gross negligence, action without a reasonable basis to believe
that such person was authorized by the company, or any transaction from which such person derived an improper
personal benefit. This provision is intended to eliminate the risk that a director, member or
II-1
limited partner might incur personal liability to the Company or its stockholders, members or
partners for breach of the duty of care.
The Delaware Corporate Registrants certificates of incorporation and bylaws, the Delaware LLC
Registrants certificates of formation and limited liability company agreements and the Delaware LP
Registrants limited partnership agreement contain provisions requiring Gaylord to indemnify and,
in the case of most of the Delaware LLC Registrants, advance expenses to its directors, members or limited partners, as the case may be, and officers to
the fullest extent permitted by law, except, generally in the case of the Delaware LLC Registrants,
to the extent that such breach is due to fraud, willful misconduct,
gross negligence, action without a
reasonable basis to believe that such person was authorized by the company, or any transaction from which such
person derived an improper personal benefit. Among other things, these provisions generally provide
indemnification for each registrants officers and directors, members, and limited partners, as the
case may be, against liabilities for judgments in and settlements of lawsuits and other proceedings
and for the advance and payment of fees and expenses reasonably incurred by the director, member,
partner or officer in defense of any such lawsuit or proceeding if the director, member, partner or
officer acted in good faith and in a manner he or she reasonably believed to be in or not opposed
to the best interests of the registrant, and in certain cases only if the director, member, limited
partner or officer is not adjudged to be liable to the company.
The Delaware Corporate Registrants, the Delaware LLC Registrants and the Delaware LP
Registrant maintain insurance on behalf of any person who is or was its director, member, limited
partner or officer, or is now or was serving at the request of the applicable registrant as a
director, member, limited partner, officer, employee, or agent of another corporation, partnership,
joint venture, trust, employee benefit plan, or other enterprise, against any liability asserted
against him and incurred by him in any such capacity, or arising out of his status as such, whether
or not any registrant would have the power or the obligation to indemnify him against such
liability under the provisions of the bylaws, limited liability company agreement or limited
partnership agreement.
Florida Registrants
Opryland Hotel-Florida Limited Partnership (Opryland Hotel-Florida) is
a limited partnership organized under the laws of the State of Florida.
Opryland
Hotel-Floridas limited partnership agreement contains provisions providing that the general partner of
Opryland Hotel-Florida shall not be liable to the company or the limited partners, as the case may be, for
monetary damages incurred in connection with the general partners management and operation of Opryland
Hotel-Florida to the extent the general partners actions comply with the Revised Uniform Limited Partnership
Act as adopted in the State of Florida, as amended.
Opryland Hotel-Florida maintains insurance on behalf of any
person who is or was its director, member, partner or officer, or is now or was serving at the
request of the company as a director, member, partner, officer, employee, or agent of another
corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against
any liability asserted against him and incurred by him in any such capacity, or arising out of his
status as such, whether or not the company would have the power or the obligation to indemnify him
against such liability under the provisions of the limited
partnership agreement.
Maryland Registrant
Gaylord National, LLC (Gaylord National) is a limited liability company organized under the
laws of the State of Maryland.
II-2
Section 4A-203(14) of the Maryland Limited Liability Company Act permits a Maryland limited
liability company to indemnify and hold harmless any member, agent, or employee from and against
any and all claims and demands, except in the case of action or failure to act by the member,
agent, or employee which constitutes willful misconduct or recklessness, and subject to the
standards and restrictions, if any, set forth in the articles of organization or operating
agreement.
Gaylord National maintains insurance on behalf of any person who is or was its director,
member or officer, or is now or was serving at the request of the company as a director, member,
officer, employee, or agent of another corporation, partnership, joint venture, trust, employee
benefit plan, or other enterprise, against any liability asserted against him and incurred by him
in any such capacity, or arising out of his status as such, whether or not the company would have
the power or the obligation to indemnify him against such liability under the provisions of the
limited liability act.
Tennessee Registrants
The following registrants are corporations or limited liability companies (as specified below)
organized under the laws of the State of Tennessee: Grand Ole Opry Tours, Inc., Opryland
Productions, Inc. and Wildhorse Saloon Entertainment Ventures, Inc. (the Tennessee Corporate
Registrants) and Opryland Hospitality, LLC (the Tennessee LLC Registrant).
The Tennessee Business Corporation Act (TBCA) provides that a corporation may indemnify any
of its directors and officers against liability incurred in connection with a proceeding if: (a)
such person acted in good faith; (b) in the case of conduct in an official capacity with the
corporation, he reasonably believed such conduct was in the corporations best interests; (c) in
all other cases, he reasonably believed that his conduct was at least not opposed to the best
interests of the corporation; and (d) in connection with any criminal proceeding, such person had
no reasonable cause to believe his conduct was unlawful. In actions brought by or in the right of
the corporation, however, the TBCA provides that no indemnification may be made if the director or
officer was adjudged to be liable to the corporation. The TBCA also provides that in connection
with any proceeding charging improper personal benefit to an officer or director, no
indemnification may be made if such officer or director is adjudged liable on the basis that such
personal benefit was improperly received. In cases where the director or officer is wholly
successful, on the merits or otherwise, in the defense of any proceeding instigated because of his
or her status as a director or officer of a corporation, the TBCA mandates that the corporation
indemnify the director or officer against reasonable expenses incurred in the proceeding. The TBCA
provides that a court of competent jurisdiction, unless the corporations charter provides
otherwise, upon application, may order that an officer or director be indemnified for reasonable
expenses if, in consideration of all relevant circumstances, the court determines that such
individual is fairly and reasonably entitled to indemnification, notwithstanding the fact that (a)
such officer or director was adjudged liable to the corporation in a proceeding by or in the right
of the corporation; (b) such officer or director was adjudged liable on the basis that personal
benefit was improperly received by him; or (c) such officer or director breached his duty of care
to the corporation. The charter and bylaws of each of the Tennessee Corporate Registrants provide that such
registrant shall indemnify its officers and directors to the fullest extent allowed by the TBCA.
Section 48-243-101 of the Tennessee Limited Liability Company Act provides that a limited
liability company may indemnify governors, officers and members of the limited liability company
against liability if (1) the individual acted in good faith and (2) reasonably believed that such
individuals conduct in his or her official capacity was in the best interest of the limited
liability company and in all other cases that such individuals conduct was at least not opposed to
the best interests of the limited liability company and (3) in a criminal proceeding, the
individual had no cause to believe such individuals conduct was unlawful. Section 48-243-101(b)
also provides that unless otherwise provided by its articles of organization, a limited liability
company may not indemnify a responsible person in connection with a proceeding to which the
responsible person was adjudged liable to the limited liability company or in connection with any
other proceeding whereby such responsible person is adjudged liable to the limited liability
company for receiving an improper personal benefit. Section 48-243-101(c) provides that unless
otherwise provided by its articles of organization, a limited liability company shall indemnify
against reasonable expenses incurred by a responsible person who was wholly successful, on the
merits or otherwise, in the defense of any proceeding against
II-3
that person as a responsible person for the limited liability company. Section 48-243-101(h)
authorizes a limited liability company to purchase and maintain insurance on behalf of any person
who is or was a responsible person, manager, employee, independent contractor, or agent of the
limited liability company, or who while a responsible person, manager, employee, independent
contractor, or agent of the limited liability company, is or was serving at the request of the
limited liability company as a responsible person, manager, partner, trustee, employee, independent
contractor, or agent of another foreign or domestic limited liability company, corporation,
partnership, joint venture, trust, employee benefit plan, or other enterprise, 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 limited liability company would otherwise have
the power to indemnify him under Section 48-243-101(b) or (c). Section 48-243-101(i) prohibits
indemnification if a responsible person is adjudged liable for a breach of the duty of loyalty to
the limited liability company or its members or for acts or omissions not in good faith that
involve intentional misconduct or a knowing violation of law or liability upon wrongful
distribution.
The Tennessee Corporate Registrants, and the Tennessee LLC Registrant maintain insurance on
behalf of any person who is or was its director, member or officer, or is now or was serving at the
request of each respective company as a director, member, officer, employee, or agent of another
corporation, partnership, joint venture, trust, employee benefit plan, or other enterprise, against
any liability asserted against him and incurred by him in any such capacity, or arising out of his
status as such, whether or not the company would have the power or the obligation to indemnify him
against such liability under the provisions of the bylaws or operating agreement.
Texas Registrant
Corporate Magic, Inc. (Corporate Magic) is a corporation incorporated under the laws of the
State of Texas.
Article 2.02-1 of the Texas Business Corporation Act permits Corporate Magic, in certain
circumstances, to indemnify any present or former director, officer, employee or agent of Corporate
Magic against judgments, penalties, fines, settlements and reasonable expenses incurred in
connection with a proceeding in which any such person was, is or is threatened to be, made a party
by reason of holding such office or position, but only to a limited extent for obligations
resulting from a proceeding in which the person is found liable on the basis that a personal
benefit was improperly received or in circumstances in which the person is found liable in a
derivative suit brought on behalf of Corporate Magic.
The charter and bylaws of Corporate Magic provide that it may indemnify and advance expenses to its directors and officers to the fullest extent permitted under the Texas Business Corporation Act. Among other things,
these provisions generally provide indemnification for Corporate Magics directors and officers against
liabilities for judgments in and settlements of lawsuits and other proceedings and for the advance and payment
of fees and expenses reasonably incurred by the director or officer in defense of any such lawsuit or
proceeding if the director or officer acted in good faith and in a manner he or she reasonably believed to be
in or not opposed to the best interests of Corporate Magic, and in certain cases only if the director or
officer is not adjudged to be liable to the corporation.
Corporate Magic maintains insurance on behalf of any person who is or was its director or
officer, or is now or was serving at the request of Corporate Magic as a director, officer,
employee, or agent of another corporation, partnership, joint venture, trust, employee benefit
plan, or other enterprise, against any liability asserted against him and incurred by him in any
such capacity, or arising out of his status as such, whether or not Corporate Magic would have the
power or the obligation to indemnify him against such liability under the provisions of the bylaws.
II-4
Item 16. Exhibits.
|
|
|
1.1*
|
|
Form of Underwriting Agreement. |
|
|
|
4.1
|
|
Specimen of Stock Certificate (incorporated by reference to Exhibit 4.1 to the Registrants
Registration Statement on Form 10, as amended, filed on June 30, 1997 (File No. 1-13079)). |
|
|
|
4.2
|
|
Restated Certificate of
Incorporation of the Registrant, as amended (restated for SEC filing
purposes only) (incorporated by reference to Exhibit
3.1 to the Registrants Annual Report on Form 10-K for the
year ended December 31, 2007 (File No. 1-13079)). |
|
|
|
4.3
|
|
Certificate of Designations of Series A Junior Participating Preferred Stock of the
Registrant classifying and designating the Series A Junior Participating Preferred Stock
(incorporated by reference to Exhibit 3.1 to the Registrants Current Report on Form 8-K filed
on August 13, 2008 (File No. 1-13079)). |
|
|
|
4.4**
|
|
Second Amended and Restated Bylaws of the Registrant, as amended (restated for SEC filing
purposes only). |
|
|
|
4.5
|
|
Amended and Restated Rights Agreement, dated as of March 9, 2009 between the Registrant and
Computershare Trust Company, N.A., as Rights Agent, which includes the Form of Certificate of
Designations of Series A Junior Participating Preferred Stock (Exhibit A), the Form of Right
Certificate (Exhibit B) and the Form of Summary of Rights (Exhibit C) (incorporated by
reference to Exhibit 4.1 to the Registrants Current Report on Form 8-K filed on March 10,
2009 (File No. 1-13079)). |
|
|
|
4.6
|
|
Form of Indenture (incorporated by reference to Exhibit 4.1 to the Registrants Registration
Statement on Form S-3 filed on January 9, 2004). |
|
|
|
4.7*
|
|
Form of Debt Security. |
|
|
|
4.8*
|
|
Form of Preferred Stock Certificate and Form of Designation of Preferred Stock. |
|
|
|
4.9*
|
|
Form of Warrant Agreement. |
|
|
|
4.10*
|
|
Form of Warrant Certificate. |
|
|
|
4.11*
|
|
Form of Subscription Rights Certificate. |
|
|
|
5.1**
|
|
Opinion of Bass, Berry & Sims PLC. |
II-5
|
|
|
5.2**
|
|
Opinion of Carter R. Todd, Esq. |
|
|
|
12.1
|
|
Computation of Ratio of Earnings to Fixed Charges. |
|
|
|
23.1**
|
|
Consent of Ernst & Young LLP. |
|
|
|
23.2
|
|
Consent of Bass, Berry & Sims PLC (included in Exhibit 5.1). |
|
|
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23.3
|
|
Consent of Carter R. Todd, Esq. (included in Exhibit 5.2). |
|
|
|
24.1
|
|
Powers of Attorney (contained on signature pages of this Registration Statement).
|
|
|
|
25.1**
|
|
Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of U.S. Bank National Association. |
|
|
|
* |
|
To be filed, if necessary, as an exhibit to a post-effective amendment to this registration
statement or as an exhibit to a Current Report on Form 8-K and incorporated herein by
reference. |
|
** |
|
Previously filed. |
|
|
|
Filed herewith. |
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, as amended (the Securities Act); |
|
|
(ii) |
|
To reflect in the prospectus any facts or events arising after
the effective date of this 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 this registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of
securities offered (if the total set forth 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. |
|
|
(iii) |
|
To include any material information with respect to the plan
of distribution not previously disclosed in this registration statement or any
material change to such information in this registration statement; |
provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(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 Sections 13 or 15(d) of the Securities Exchange Act of
1934, as amended (the Exchange Act) 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,
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 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-6
|
(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 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. |
|
(5) |
|
That, for the purpose of determining liability of the registrant under the
Securities Act 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, each filing of the registrants annual report pursuant to Section
13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plans 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. |
(c) |
|
If the securities being registered are offered to existing security holders pursuant to
warrants or rights and any securities not taken by security holders are to be reoffered to the public,
the undersigned registrant hereby undertakes to supplement the prospectus, after the expiration of the
subscription period, to set forth the results of the subscription offer, the transactions by the underwriters
during the subscription period, the amount of unsubscribed securities to be purchased by the underwriters, and
the terms of any subsequent reoffering thereof. If any public offering by the underwriters is to be made on
terms differing from those set forth on the cover page of the prospectus, a post-effective amendment will be
filed to set forth the terms of such offering. |
(d) |
|
Insofar as indemnification for liabilities arising under the Securities Act 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
Securities and Exchange Commission 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 the 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. |
(e) |
|
The undersigned registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act, the information omitted from the form of prospectus filed as part of
this registration statement in reliance upon Rule 430A and contained in a form of prospectus
filed by the registrant pursuant to Rule 424(b)(1) or (4) or 497(h) under the Securities Act
shall be deemed to be part of this registration statement as of the time it was declared
effective. |
II-7
(f) |
|
The undersigned registrant hereby undertakes that, for the purpose of determining any
liability under the Securities Act, each post-effective amendment that contains a form of
prospectus 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. |
II-8
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
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GAYLORD ENTERTAINMENT COMPANY
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By: |
/s/ Carter R. Todd
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Carter R. Todd |
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Executive Vice President,
General Counsel and Secretary |
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II-9
SIGNATURE PAGE
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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Chairman of the Board of Directors and Chief Executive |
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May 18, 2009 |
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Officer
(Principal Executive Officer) |
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Director |
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May 18, 2009 |
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* |
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Director |
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May 18, 2009 |
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* |
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Director |
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May 18, 2009 |
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* |
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Director |
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May 18, 2009 |
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* |
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Director |
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May 18, 2009 |
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Director |
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May 18, 2009 |
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Director |
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May 18, 2009 |
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Director |
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May 18, 2009 |
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Director |
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May 18, 2009 |
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* |
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Director |
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May 18, 2009 |
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President and Chief Financial Officer (Principal Financial |
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May 18, 2009 |
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Officer) |
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Senior Vice President and Chief Administrative Officer |
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May 18, 2009 |
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(Principal
Accounting Officer) |
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* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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II-10
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on
May 18, 2009.
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COUNTRY MUSIC TELEVISION INTERNATIONAL, INC. |
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GAYLORD PROGRAM SERVICES, INC. |
GAYLORD CREATIVE GROUP, INC. |
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GRAND OLE OPRY TOURS, INC. |
GAYLORD FINANCE, INC. |
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OPRYLAND PRODUCTIONS, INC. |
GAYLORD HOTELS, INC. |
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OPRYLAND THEATRICALS, INC. |
GAYLORD INVESTMENTS, INC. |
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WILDHORSE SALOON ENTERTAINMENT VENTURES, INC. |
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By:
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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President, Chief Executive Officer
and Director (Principal Executive Officer) |
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May 18, 2009 |
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Executive Vice President and Director (Principal Financial Officer) |
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May 18, 2009 |
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Assistant Secretary (Principal Accounting Officer) |
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May 18, 2009 |
* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on
May 18, 2009.
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CORPORATE MAGIC, INC. |
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By:
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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Chief Executive Officer and Director (Principal Executive Officer) |
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May 18, 2009 |
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Executive Vice President and Director (Principal Financial Officer) |
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May 18, 2009 |
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Assistant Secretary (Principal Accounting Officer) |
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May 18, 2009 |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
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OLH, G.P. |
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By Its GENERAL PARTNERS: |
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GAYLORD HOTELS, INC. |
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General Partner |
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By: |
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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OLH HOLDINGS, LLC |
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General Partner |
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By: |
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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President, Chief Executive Officer
and Director
(Principal Executive Officer)** |
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May 18, 2009 |
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President and Chief Manager
(Principle Executive Officer)** |
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Executive Vice President and Director
(Principal Financial Officer)** |
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May 18, 2009 |
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Executive Vice President |
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(Principle Financial Officer)# |
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Assistant Secretary
(Principal
Accounting Officer)**# |
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May 18, 2009 |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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** |
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of Gaylord Hotels, Inc. a general partner of the registrant listed above. |
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of OLH Holdings, LLC a general partner of the registrant listed above. |
SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
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OPRYLAND HOTEL-FLORIDA LIMITED
PARTNERSHIP |
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OPRYLAND HOTEL-TEXAS LIMITED PARTNERSHIP |
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By: OPRYLAND HOSPITALITY, LLC,
as General Partner |
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By: |
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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President and Chief Manager
(Principal
Executive Officer) |
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May 18, 2009 |
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Executive Vice President
(Principal
Financial Officer) |
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May 18, 2009 |
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Assistant Secretary
(Principal
Accounting Officer) |
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May 18, 2009 |
* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
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CCK HOLDINGS, LLC |
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OPRYLAND HOSPITALITY, LLC |
GAYLORD DESTIN RESORTS, LLC |
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OPRYLAND HOTEL NASHVILLE, LLC |
OLH HOLDINGS, LLC |
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OPRYLAND HOTEL-TEXAS, LLC |
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By: |
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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President and Chief
Manager
(Principal Executive Officer) |
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May 18, 2009 |
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Executive Vice President
(Principal
Financial Officer) |
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May 18, 2009 |
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Assistant Secretary
(Principal
Accounting Officer) |
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May 18, 2009 |
* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
GAYLORD NATIONAL, LLC
GRAND OLE OPRY, LLC
OPRYLAND ATTRACTIONS, LLC
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By: |
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/s/ Carter R. Todd
Carter R. Todd |
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May 18, 2009 |
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Vice President and Secretary |
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Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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President and Chief
Executive Officer
(Principal Executive Officer) |
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May 18, 2009 |
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Executive Vice President
(Principal
Financial Officer) |
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May 18, 2009 |
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Assistant Secretary (Principal Accounting Officer) |
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May 18, 2009 |
* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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SIGNATURES
Pursuant to the requirements of the Securities Act, 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 the City of Nashville, State of Tennessee, on May 18, 2009.
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GAYLORD MESA, LLC
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GAYLORD MESA CONVENTION CENTER, LLC |
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By:
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/s/ Carter R. Todd |
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Carter R. Todd |
May 18, 2009
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Vice President and Secretary |
Pursuant to the requirements of the Securities Act, this registration statement has been
signed by the following persons in the capacities and on the dates indicated.
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Signature |
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Title |
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Date |
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Colin V. Reed |
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President
(Principal Executive Officer)
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May 18, 2009 |
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David C. Kloeppel |
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Executive Vice President
(Principal Financial Officer)
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May 18, 2009 |
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Rod Connor |
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Principal Accounting Officer
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May 18, 2009 |
* |
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/s/ Carter R. Todd |
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Carter R. Todd Attorney-in-Fact |
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EXHIBIT INDEX
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Exhibit Number |
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Description of Exhibit |
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1.1*
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Form of Underwriting Agreement. |
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4.1
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Specimen of Stock Certificate (incorporated by reference to Exhibit 4.1 to the Registrants
Registration Statement on Form 10, as amended, filed on June 30, 1997 (File No. 1-13079)). |
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4.2
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Restated Certificate of
Incorporation of the Registrant, as amended (restated for SEC filing
purposes only) (incorporated by reference to Exhibit
3.1 to the Registrants Annual Report on Form 10-K for the
year ended December 31, 2007 (File No. 1-13079)). |
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4.3
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Certificate of Designations of Series A Junior Participating Preferred Stock of the
Registrant classifying and designating the Series A Junior Participating Preferred Stock
(incorporated by reference to Exhibit 3.1 to the Registrants Current Report on Form 8-K filed
on August 13, 2008 (File No. 1-13079)). |
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4.4**
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Second Amended and Restated Bylaws of the Registrant, as amended (restated for SEC filing
purposes only). |
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4.5
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Amended and Restated Rights Agreement, dated as of March 9, 2009 between the Registrant and
Computershare Trust Company, N.A., as Rights Agent, which includes the Form of Certificate of
Designations of Series A Junior Participating Preferred Stock (Exhibit A), the Form of Right
Certificate (Exhibit B) and the Form of Summary of Rights (Exhibit C) (incorporated by
reference to Exhibit 4.1 to the Registrants Current Report on Form 8-K filed on March 10,
2009 (File No. 1-13079)). |
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4.6
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Form of Indenture (incorporated by reference to Exhibit 4.1 to the Registrants Registration
Statement on Form S-3 filed on January 9, 2004). |
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4.7*
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Form of Debt Security. |
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4.8*
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Form of Preferred Stock Certificate and Form of Designation of Preferred Stock. |
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4.9*
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Form of Warrant Agreement. |
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4.10*
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Form of Warrant Certificate. |
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4.11*
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Form of Subscription Rights Certificate. |
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5.1**
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Opinion of Bass, Berry & Sims PLC. |
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5.2**
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Opinion of Carter R. Todd, Esq. |
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12.1
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Computation of Ratio of Earnings to Fixed Charges. |
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23.1**
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Consent of Ernst & Young LLP. |
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23.2
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Consent of Bass, Berry & Sims PLC (included in Exhibit 5.1). |
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23.3
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Consent of Carter R. Todd, Esq. (included in Exhibit 5.2). |
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24.1
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Powers of Attorney (contained on signature pages of this Registration Statement).
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25.1**
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Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of U.S. Bank National Association. |
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To be filed, if necessary, as an exhibit to a post-effective amendment to this registration
statement or as an exhibit to a Current Report on Form 8-K and incorporated herein by
reference. |
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Previously filed. |
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Filed herewith. |