Exhibit 1.1
Execution Version
DEERE FUNDING CANADA CORPORATION
4.150% Notes due 2030
TERMS AGREEMENT
Dated: October 2, 2025
Deere Funding Canada Corporation
3430 Superior Court
Oakville, Ontario L6L 0C4
Deere & Company
One John Deere Place
Moline, Illinois 61265-8098
Ladies and Gentlemen:
We understand that Deere Funding Canada Corporation (the “Issuer”) proposes to issue and sell $500,000,000 aggregate principal amount of its 4.150% Notes due 2030 (the “Underwritten Securities”), fully and unconditionally guaranteed as to principal, premium, if any, interest and certain other amounts (the “Guarantee”) by Deere & Company (the “Parent Guarantor”). Subject to the terms and conditions set forth or incorporated by reference herein, the Issuer has agreed to sell to the underwriters named hereafter (the “Underwriters”), for whom Goldman Sachs & Co. LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC are acting as the Representatives (in such capacity, the “Representatives”), and the Underwriters have agreed, severally and not jointly, to purchase from the Issuer, the principal amount of Underwritten Securities set forth hereafter opposite their respective names at the purchase price set forth hereafter.
Underwriter | Principal Amount of Underwritten Securities |
$93,750,000 | |
$93,750,000 | |
$93,750,000 | |
$93,750,000 | |
$25,000,000 | |
$25,000,000 | |
$25,000,000 | |
$25,000,000 | |
$25,000,000 | |
$500,000,000 | |
|
The Underwritten Securities shall have the following terms:
Title of Underwritten Securities: | 4.150% Notes due 2030 | |
Parent Guarantor: | Deere & Company | |
Currency: | U.S. dollars | |
Principal amount to be issued: | $500,000,000 | |
Ranking: | Senior unsecured | |
Interest Rate or formula: | 4.150% per annum | |
Interest Payment Date(s): | Each April 9 and October 9, commencing on April 9, 2026 | |
Record Dates: | The close of business on the 15th day preceding the particular Interest Payment Date | |
Payment of Additional Amounts: | Applicable | |
Stated Maturity Date: | October 9, 2030 | |
Redemption provisions: | Make-whole call based on U.S. Treasury + 0.100% (+10 basis points); if, however, the Underwritten Securities are redeemed on or after September 9, 2030, the redemption price will be equal to 100% of the principal amount of the Underwritten Securities to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption. | |
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Tax call at a redemption price equal to 100% of the principal amount of the Underwritten Securities to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption. | |
Sinking fund requirements: | None |
Delayed Delivery Contracts: | Not authorized |
Initial public offering price: | 99.920%, plus accrued interest, if any, from the Closing Date. |
Purchase price: | 99.570% |
Form: | Global Note through the facilities of The Depository Trust Company (in the United States) |
Applicable Time: | 2:40 P.M. New York City time on October 2, 2025 |
Closing Date and Location: | 10:00 A.M. New York City time on October 9, 2025 Sidley Austin LLP |
General Disclosure Package: | (1) Prospectus dated June 30, 2023 |
| (2) Preliminary Prospectus Supplement |
| (3) Term Sheet dated October 2, 2025 attached to Schedule I hereto |
Other Terms: | None |
Attached to this Terms Agreement as a part of Schedule I is an “issuer free writing prospectus” included in the General Disclosure Package.
All of the provisions contained in the document attached as Annex A hereto entitled “Deere Funding Canada Corporation – Guaranteed Debt Securities – Underwriting Agreement Basic Provisions” (the “Basic Provisions”) are hereby incorporated by reference in their entirety herein and shall be deemed to be a part of this Terms Agreement to the same extent as if such provisions had been set forth in full herein. Terms defined in the Basic Provisions are used herein as therein defined.
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Covenants of the Underwriters
Each Underwriter, on behalf of itself and each of its affiliates that participates in the initial distribution of the Underwritten Securities, severally and not jointly, represents, covenants and agrees with each of the Issuer and the Parent Guarantor that it will not offer, sell, or deliver any of the Underwritten Securities, directly or indirectly, or distribute the Prospectus, or any other offering material relating to the Underwritten Securities, in or from any jurisdiction outside the United States except in or from or into jurisdictions as contemplated in the Prospectus and under circumstances that will, to the best knowledge and belief of such Underwriter, result in compliance with the applicable laws and regulations thereof and which will not impose any obligations on either the Issuer or the Parent Guarantor, except as set forth in the Basic Provisions and this Terms Agreement.
Please accept this offer by signing a copy of this Terms Agreement in the space set forth below and returning the signed copy to us.
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Very truly yours,
GOLDMAN SACHS & CO. LLC
By: /s/ Jonathan K. Zwart
Name: Jonathan K. Zwart
Title: Managing Director
MUFG SECURITIES AMERICAS INC.
By: /s/ Richard Testa
Name: Richard Testa
Title: Managing Director
RBC CAPITAL MARKETS, LLC
By: /s/ Scott G Primrose
Name: Scott G Primrose
Title: Authorized Signatory
TD SECURITIES (USA) LLC
By: /s/ Luiz Landfredi
Name: Luiz Landfredi
Title: Managing Director
On behalf of themselves and the other several Underwriters named above
[Signature Page to Terms Agreement]
Accepted:
DEERE FUNDING CANADA CORPORATION, as Issuer
By: /s/ Stephen T. Hamborg
Name: Stephen T. Hamborg
Title: Vice President
DEERE & COMPANY, as Parent Guarantor
By: /s/ Stephen T. Hamborg
Name: Stephen T. Hamborg
Title: Vice President and Treasurer
[Signature Page to Terms Agreement]
Schedule I
PERMITTED FREE WRITING PROSPECTUS
Term Sheet dated October 2, 2025
Filed Pursuant to Rule 433
Dated October 2, 2025
Registration Statement Nos. 333-273045 and 333-273045-01
Relating to Preliminary Prospectus Supplement
Dated October 2, 2025 to
Prospectus dated June 30, 2023
DEERE FUNDING CANADA CORPORATION
4.150% Notes due 2030
Fully and unconditionally guaranteed by Deere & Company
Term Sheet dated October 2, 2025
Issuer: | Deere Funding Canada Corporation |
Guarantor: | Deere & Company |
Trade Date: | October 2, 2025 |
Type of Offering: | SEC registered |
Settlement Date**: | October 9, 2025 (T+5) |
Security: | 4.150% Notes due 2030 (the “Notes”) |
Size: | $500,000,000 |
Stated Maturity Date: | October 9, 2030 |
Interest Payment Dates: | April 9 and October 9, commencing on April 9, 2026 |
Benchmark Treasury: | 3.625% UST due September 30, 2030 |
Benchmark Treasury Yield and Price: | 3.668%; 99-25 3/4 |
Yield to Maturity: | 4.168% |
Spread to Benchmark Treasury: | 50 basis points |
Coupon (Interest Rate): | 4.150% per year |
Price to Public: | 99.920% of principal amount, plus accrued interest, if any, from October 9, 2025 |
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Net Proceeds to the Issuer (before expenses): | $497,850,000 |
Optional Redemption: | Make-whole call based on U.S. Treasury + 0.100% (+10 basis points); if, however, the Notes are redeemed on or after September 9, 2030, the redemption price will be equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption. Tax call at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest thereon, if any, to, but excluding, the date of redemption. |
CUSIP / ISIN: | 2442GAAA0 / US2442GAAA00 |
Joint Book-Running Managers: | Goldman Sachs & Co. LLC MUFG Securities Americas Inc. RBC Capital Markets, LLC TD Securities (USA) LLC |
Co-Managers: | Academy Securities, Inc. ING Financial Markets LLC PNC Capital Markets LLC Truist Securities, Inc. SMBC Nikko Securities America, Inc. |
** Pursuant to Rule 15c6-1 under the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in one business day unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers of the Notes who wish to trade the Notes before the business day prior to the Settlement Date will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement.
The Issuer and the Guarantor have filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the SEC for the offering to which this communication relates. Before you make a decision to invest, you should read the preliminary prospectus supplement and the prospectus in that registration statement and other documents the Issuer and the Guarantor have filed with the SEC that are incorporated therein by reference for more complete information about the Issuer, the Guarantor and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, the Guarantor, any underwriter or any dealer participating in the offering will arrange to send you the preliminary prospectus supplement and the prospectus if you request it by calling Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, MUFG Securities Americas Inc.
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toll-free at 1-877-649-6848, RBC Capital Markets, LLC toll-free at 1-866-375-6829 or TD Securities (USA) LLC toll-free at 1-855-495-9846.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.
Sch. I - 3
October 2, 2025
ANNEX A
DEERE FUNDING CANADA CORPORATION
(a corporation incorporated under the Business Corporations Act (Ontario))
Guaranteed Debt Securities
UNDERWRITING AGREEMENT BASIC PROVISIONS
Deere Funding Canada Corporation (the “Issuer”) proposes to issue and sell from time to time certain of its guaranteed senior debt securities (the “Securities”) , on terms to be determined at the time of sale, fully and unconditionally guaranteed (the “Guarantee”) as to principal, premium, if any, interest and certain other amounts by Deere & Company, a Delaware corporation (the “Parent Guarantor”). The Securities and the Guarantee will be issued under an indenture dated as of June 15, 2020 (the “Indenture”) between the Issuer, the Parent Guarantor and The Bank of New York Mellon, as Trustee. Each issue of Securities may vary, as applicable, as to aggregate principal amount, maturity date, interest rate or formula and timing of payments thereof, redemption provisions, conversion provisions and sinking fund requirements, if any, and any other variable terms which the Indenture contemplates may be set forth in the Securities.
This is to confirm the arrangements with respect to the purchase of Underwritten Securities from the Issuer by the Representatives and the several Underwriters listed in the applicable terms agreement entered into among the Representatives, the Issuer and the Parent Guarantor of which this Underwriting Agreement Basic Provisions is Annex A thereto (the “Terms Agreement”). With respect to any particular Terms Agreement, the Terms Agreement, together with the provisions hereof incorporated therein by reference, is herein referred to as the “Agreement.” Terms defined in the Terms Agreement are used herein as therein defined.
The Parent Guarantor and the Issuer have filed with the Securities and Exchange Commission (the “Commission”) an automatic shelf registration statement on Form S-3 (No. 333-273045) in respect of certain of their securities, including, in the case of the Issuer, the Underwritten Securities and, in the case of the Parent Guarantor, the Guarantee, under the Securities Act of 1933, as amended (the “1933 Act”), and the offering thereof from time to time in accordance with Rule 415 of the rules and regulations of the Commission under the 1933 Act (the “1933 Act Regulations”). Such registration statement and any post-effective amendment thereto, each in the form heretofore delivered to you, became effective upon filing with the Commission pursuant to Rule 462 of the 1933 Act Regulations and no stop order suspending the effectiveness of such registration statement has been issued and no proceeding for that purpose or pursuant to Section 8A of the 1933 Act has been initiated or threatened by the Commission (if prepared, any preliminary prospectus supplement specifically relating to the Underwritten Securities immediately prior to the Applicable Time included in such registration statement or filed with the Commission pursuant to Rule 424(b) of the 1933 Act Regulations being hereinafter called a “Preliminary Prospectus”). The Indenture has been qualified under the Trust Indenture Act of 1939, as amended (the “1939 Act”).
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The term “Registration Statement” means the registration statement at any given time, including the amendments thereto to such time, the exhibits and any schedules thereto at such time, the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the 1933 Act at such time and the documents otherwise deemed to be a part thereof or included therein by the 1933 Act Regulations, except that when no time is specified, the term “Registration Statement” means the registration statement as deemed revised pursuant to Rule 430B(f)(1) of the 1933 Act Regulations by virtue of the filing with the Commission of the Prospectus pursuant to Rule 424(b) of the 1933 Act Regulations; the term “Base Prospectus” means the prospectus on file with the Commission on the date of the applicable Terms Agreement; and the term “Prospectus” means the Base Prospectus together with the prospectus supplement specifically relating to the Underwritten Securities and the Guarantee prepared in accordance with the provisions of Rule 430B and promptly filed after execution and delivery of the applicable Terms Agreement pursuant to Rule 430B or Rule 424(b) of the 1933 Act Regulations; any information included in such Prospectus that was omitted from the Registration Statement at the time it became effective but that is deemed to be a part of and included in such registration statement pursuant to Rule 430B is referred to as “Rule 430B Information;” and any reference herein to any Registration Statement, Preliminary Prospectus or the Prospectus shall be deemed to refer to and include the documents incorporated by reference therein, as of the date of the applicable Terms Agreement; any reference to any amendment or supplement to any Preliminary Prospectus or Prospectus shall be deemed to refer to and include any documents filed after the date of such Preliminary Prospectus or Prospectus, as the case may be, under the Securities Exchange Act of 1934, as amended (the “1934 Act”), and incorporated by reference in such Preliminary Prospectus or Prospectus, as the case may be; and any reference to any amendment to the Registration Statement shall be deemed to refer to and include any annual, quarterly or periodic report of the Parent Guarantor filed pursuant to Section 13(a) or 15(d) of the 1934 Act after the effective date of the Registration Statement that is incorporated by reference in the Registration Statement.
All references in this Agreement to financial statements and schedules and other information which is “disclosed,” “contained,” “included,” “set forth” or “stated” (or other references of like import) in the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to include all such financial statements and schedules and other information which is incorporated by reference in or otherwise deemed by the 1933 Act Regulations to be a part of or included in the Registration Statement, or the Prospectus, as the case may be, prior to the Applicable Time; and all references in this Agreement to amendments or supplements to the Registration Statement, any Preliminary Prospectus or the Prospectus shall be deemed to include the filing of any document under the 1934 Act, which is incorporated by reference in or otherwise deemed by the 1933 Act Regulations to be a part of or included in the Registration Statement, or the Prospectus, as the case may be, after the Applicable Time.
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Any certificate signed by any officer of the Parent Guarantor or the Issuer and delivered to the Representatives or counsel for the Underwriters in connection with an offering of Underwritten Securities shall be deemed a representation and warranty by the Parent Guarantor or the Issuer, as the case may be, as to the matters covered thereby, to each Underwriter participating in such offering.
The several commitments of the Underwriters to purchase Underwritten Securities pursuant to the Terms Agreement shall be deemed to have been made on the basis of the representations and warranties herein contained and shall be subject to the terms and conditions herein set forth.
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Payment of the purchase price for, and delivery of, any Underwritten Securities to be purchased by the Underwriters shall be made at the office of Sidley Austin llp, 787 Seventh Avenue, New York, New York 10019, or at such other place as shall be agreed upon by the Representatives and the Issuer, at 10:00 AM, New York City time, on the fifth business day (unless postponed in accordance with the provisions of Section 10) following the date of the Terms Agreement or such other time as shall be agreed upon by the Representatives and the Issuer (each such time and date being referred to as a “Closing Time”). Payment shall be made to the Issuer by wire transfer of immediately available funds to a bank account designated by the Issuer, against delivery to the Representatives for the respective accounts of the Underwriters of the Underwritten Securities to be purchased by them. Delivery of the Underwritten Securities shall be made through the facilities of The Depository Trust Company unless the Representatives shall otherwise instruct.
If authorized by the Terms Agreement, the Underwriters named therein may solicit offers to purchase Underwritten Securities from the Issuer pursuant to delayed delivery contracts (“Delayed Delivery Contracts”) substantially in the form of Exhibit A hereto with such changes therein as the Issuer may approve. As compensation for arranging Delayed Delivery Contracts, the Issuer will pay to the Representatives at Closing Time, for the accounts of the Underwriters, a fee equal to that percentage of the principal amount of Underwritten Securities for which Delayed Delivery Contracts are made at Closing Time as is specified in the Terms Agreement. Any Delayed Delivery Contracts are to be with institutional investors of the types set forth in the Prospectus. At Closing Time, the Issuer will enter into Delayed Delivery Contracts (for not less than the minimum principal amount of Underwritten Securities per Delayed Delivery Contract specified in the applicable Terms Agreement) with all purchasers proposed by the Underwriters and previously approved by the Issuer as provided below, but not for an aggregate principal amount of Underwritten Securities in excess of that specified in the Terms Agreement. The Underwriters will not have any responsibility for the validity or performance of Delayed Delivery Contracts.
The Representatives shall submit to the Issuer, at least three business days prior to Closing Time, the names of any institutional investors with which it is proposed that the Issuer will enter into Delayed Delivery Contracts and the principal amount of Underwritten Securities to be purchased by each of them, and the Issuer will advise the Representatives, at least two business days prior to Closing Time, of the names of the institutions with which the making of Delayed Delivery Contracts is approved by the Issuer and the principal amount of Underwritten Securities to be covered by each such Delayed Delivery Contract.
The principal amount of Underwritten Securities agreed to be purchased by the respective Underwriters pursuant to the Terms Agreement shall be reduced by the principal amount of Underwritten Securities covered by Delayed Delivery Contracts, as to each Underwriter as set forth in a written notice delivered by the Representatives to the Issuer; provided, however, that the total principal amount of Underwritten Securities to be purchased by all Underwriters shall be the total amount of Underwritten Securities covered by the applicable Terms Agreement, less the principal amount of Underwritten Securities covered by Delayed Delivery Contracts.
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If any condition specified in this Section shall not have been fulfilled when and as required to be fulfilled, this Agreement may be terminated by the Representatives by notice to the Parent Guarantor and the Issuer at any time at or prior to the applicable Closing Time, and such termination shall be without liability of any party to any other party except as provided in Section 5.
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If this Agreement is terminated by the Representatives in accordance with the provisions of Section 4 or Section 9(i), the Parent Guarantor and the Issuer agree, jointly and severally, to reimburse the Underwriters named in such Terms Agreement for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.
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In no case shall the Parent Guarantor or the Issuer be liable under this indemnity agreement with respect to any claim made against any Underwriter or any such controlling person unless the Parent Guarantor or the Issuer shall be notified in writing of the nature of the claim within a reasonable time after the assertion thereof, but failure so to notify the Parent Guarantor or the Issuer shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. Each of the Parent Guarantor and the Issuer shall be entitled to participate at its own expense in the defense, or if it so elects within a reasonable time after receipt of such notice, to assume the defense for any suit brought to enforce any such claim, but if the Parent Guarantor or the Issuer elects to assume the defense, such defense shall be conducted by counsel chosen by it and satisfactory to the Underwriter or Underwriters or controlling person or persons, defendant or defendants in any suit so brought. In the event that the Parent Guarantor or the Issuer elects to assume the defense of any such suit and retains such counsel, the Underwriter or Underwriters or controlling person or persons, defendant or defendants in the suit shall bear the fees and expenses of any additional counsel thereafter retained by them. In the event that the parties to any such action (including impleaded parties) include both the Parent Guarantor and/or the Issuer, on the one hand, and one or more Underwriters, on the other hand, and any such Underwriter shall have been advised by counsel chosen by it and satisfactory to the Parent Guarantor and/or the Issuer that there may be one or more legal defenses available to it which are different from or additional to those available to the Parent Guarantor and the Issuer, the Parent Guarantor and the Issuer shall not have the right to assume the defense of such action on behalf of such Underwriter and will reimburse such Underwriter and any person controlling such Underwriter as aforesaid for the reasonable fees and expenses of any counsel retained by them, it being understood that the Parent Guarantor and the Issuer shall not, in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys for all such Underwriters and controlling persons, which firm shall be designated in writing by the Representatives. Each of the Parent Guarantor and the Issuer agrees to notify the Representatives within a reasonable time of the assertion of any claim against it, any of its officers or directors or any person, if any, who controls the Parent Guarantor or the Issuer within
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the meaning of Section 15 of the 1933 Act, in connection with the sale of the Underwritten Securities.
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The obligations of the Parent Guarantor and the Issuer under this Section 7 shall be in addition to any liability which the Parent Guarantor or the Issuer may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls any Underwriter within the meaning of Section 15 of the 1933 Act; and the obligations of the Underwriters under this Section 7 shall be in addition to any liability which the respective Underwriters may otherwise have and shall extend, upon the same terms and conditions, to each officer who signs the Registration Statement and each director of the Parent Guarantor or the Issuer and to each person, if any, who controls the Parent Guarantor or the Issuer within the meaning of Section 15 of the 1933 Act.
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No action taken pursuant to this Section shall relieve any defaulting Underwriter from liability in respect of any default of such Underwriter under this Agreement and the Terms Agreement.
In the event of a default by any Underwriter or Underwriters as set forth in this Section, either the Representatives or the Parent Guarantor and the Issuer shall have the right to postpone the applicable Closing Time for a period not exceeding seven days in order that any required changes in the Registration Statement, General Disclosure Package or Prospectus or in any other documents or arrangements may be effected.
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In the event that any Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
For purposes of the foregoing two paragraphs, “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k); “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b), (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b) or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b); “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable; and “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.
Notwithstanding and to the exclusion of any other term of this Agreement or any other agreements, arrangements, or understanding between any of the parties hereto, each of the parties acknowledges, accepts, and agrees that any BRRD Liability of a BRRD Party hereto
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arising under this Agreement may be subject to the exercise of Statutory Loss Absorption Powers by the Relevant Resolution Authority and acknowledges, accepts, consents to and agrees to be bound by:
| (a) | the effect of the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority, which exercise (without limitation) may include and result in any of the following, or some combination thereof: |
| (i) | the reduction of all, or a portion, of the BRRD Liability or outstanding amounts due thereon; |
| (ii) | the conversion of all, or a portion, of the BRRD Liability into shares, other securities or other obligations of another person (and the issue to or conferral on it of such shares, securities or obligations); |
| (iii) | the cancellation of the BRRD Liability; or |
| (iv) | the amendment or alteration of any interest, if applicable, thereon, the maturity or the dates on which any payments are due, including by suspending payment for a temporary period; and |
| (b) | the variation of the terms of this Agreement, as deemed necessary by the Relevant Resolution Authority, to give effect to the exercise of any Statutory Loss Absorption Powers by the Relevant Resolution Authority. |
| (c) | For purposes of this Section 14, |
“Bail-in Legislation” means (a) in relation to a member state of the European Economic Area which has implemented, or which at any time implements, the BRRD, the relevant implementing law, regulation, rule or requirement as described in the EU Bail-in Legislation Schedule from time to time and (b) in relation to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law or regulation applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings).
“BRRD” means Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms, as amended or replaced from time to time.
“BRRD Liability” has the same meaning as in such laws, regulations, rules or requirements implementing the BRRD under the applicable Bail-in Legislation.
“BRRD Party” means any party hereto that is subject to Statutory Loss Absorption Powers.
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“EU Bail-in Legislation Schedule” means the document described as such, then in effect, and published by the Loan Market Association (or any successor person) from time to time.
“Relevant Resolution Authority” means, in relation to any BRRD Party, the resolution authority with the ability to exercise any Statutory Loss Absorption Powers as defined in this Section 14.
“Statutory Loss Absorption Powers” means (a) in relation to a member state of the European Economic Area which has implemented, or which at any time implements, the BRRD, any write-down, conversion, transfer, modification, suspension or similar or related power existing from time to time under, and exercised in compliance with, any applicable laws, regulations, rules or requirements pursuant to the applicable Bail-in Legislation and (b) in relation to the United Kingdom, any powers of the Relevant Resolution Authority under the Bail-In Legislation to cancel, transfer or dilute shares issued by a person that is a bank or investment firm or other financial institution or affiliate of a bank, investment firm or other financial institution, to cancel, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In Legislation that are related to or ancillary to any of those powers.
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EXHIBIT A
DEERE FUNDING CANADA CORPORATION
(a corporation incorporated under the Business Corporations Act (Ontario))
[Title of Securities]
DELAYED DELIVERY CONTRACT
, 20[•]
Deere Funding Canada Corporation
3430 Superior Court
Oakville, Ontario L6L 0C4
Attention:
Dear Sirs:
The undersigned hereby agrees to purchase from Deere Funding Canada Corporation (the “Company”), and the Company agrees to sell to the undersigned on, [•] 20[•] (the “Delivery Date”), principal amount of the Company’s [insert title of security] (the “Securities”), offered by the Company’s Prospectus dated [•], 20[•], as supplemented by its Prospectus Supplement dated [•], 20[•], receipt of which is hereby acknowledged at a purchase price of [[•]% of the principal amount thereof, plus accrued interest from [•], 20[•],] to the Delivery Date, and on the further terms and conditions set forth in this contract.
Payment for the Securities which the undersigned has agreed to purchase on the Delivery Date shall be made to the Company or its order by certified or official bank check in New York Clearing House funds at the office of [•], on the Delivery Date, upon delivery to the undersigned of the Securities to be purchased by the undersigned in definitive form and in such denominations and registered in such names as the undersigned may designate by written or telegraphic communication addressed to the Company not less than five full business days prior to the Delivery Date.
The obligation of the undersigned to take delivery of and make payment for Securities on the Delivery Date shall be subject only to the conditions that (1) the purchase of Securities to be made by the undersigned shall not on the Delivery Date be prohibited under the laws of the jurisdiction to which the undersigned is subject and (2) the Company, on or before [•], 20[•], shall have sold to the Underwriters of the Securities (the “Underwriters”) such principal amount of the Securities as is to be sold to them pursuant to the Terms Agreement dated [•], 20[•] between the Company and the Underwriters. The obligation of the undersigned to take delivery of and make payment for Securities shall not be affected by the failure of any purchaser to take delivery of and make payments for Securities pursuant to other contracts similar to this contract. The undersigned represents and warrants to you that its investment in the Securities is not, as of the date hereof; prohibited under the laws of any jurisdiction to which the undersigned is subject and which govern such investment.
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Promptly after completion of the sale to the Underwriters, the Company will mail or deliver to the undersigned at its address set forth below notice to such effect, accompanied by a copy of the opinion of counsel for the Company delivered to the Underwriters in connection therewith.
By the execution hereof the undersigned represents and warrants to the Company that all necessary corporate action for the due execution and delivery of this contract and the payment for and purchase of the Securities has been taken by it and no further authorization or approval of any governmental or other regulatory authority is required for such execution, delivery, payment or purchase, and that, upon acceptance hereof by the Company and mailing or delivery of a copy as provided below, this contract will constitute a valid and binding agreement of the undersigned in accordance with its terms.
This contract will inure to the benefit of and be binding upon the parties hereto and their respective successors, but will not be assignable by either party hereto without the written consent of the other.
It is understood that the Company will not accept Delayed Delivery Contracts for an aggregate principal amount of Securities in excess of $[•] and that the acceptance of any Delayed Delivery Contract is in the Company’s sole discretion and, without limiting the foregoing, need not be on a first-come, first-served basis. If this contract is acceptable to the Company, it is requested that the Company sign the form of acceptance on a copy hereof and mail or deliver a signed copy hereof to the undersigned at its address set forth below. This will become a binding contract between the Company and the undersigned when such copy is so mailed or delivered.
This Agreement shall be governed by the laws of the State of New York.
Yours very truly,
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| (Title) |
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| (Address) |
Ex. A - 2
Accepted as of the date first above written.
DEERE FUNDING CANADA CORPORATION
By: | |
| (Name) |
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| (Title) |
Ex. A - 3
PURCHASER-PLEASE COMPLETE AT TIME OF SIGNING
The name and telephone number of the Representatives of the Purchaser with whom details of delivery on the Delivery Date may be discussed are as follows: (Please print.)
Name | Telephone No. (including Area Code) |
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Ex. A - 4