Attached files
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8-K - FORM 8-K - STARWOOD HOTEL & RESORTS WORLDWIDE, INC | p16364e8vk.htm |
EX-4.1 - EX-4.1 - STARWOOD HOTEL & RESORTS WORLDWIDE, INC | p16364exv4w1.htm |
Exhibit 5.1
[Letterhead of Weil, Gotshal & Manges LLP]
November 20, 2009
Starwood Hotels & Resorts Worldwide, Inc.
1111 Westchester Avenue
White Plains, New York 10604
1111 Westchester Avenue
White Plains, New York 10604
Ladies and Gentlemen:
We have acted as counsel to Starwood Hotels & Resorts Worldwide, Inc., a Maryland corporation
(the Corporation), in connection with the offer and sale by the Company of $250,000,000 aggregate
principal amount of 7.150% Senior Notes due 2019 (the Securities), pursuant to the underwriting
agreement, dated November 5, 2009 (the Agreement), between the Company and Citigroup Global
Markets, Inc., on behalf of itself and as representative of the underwriters named therein.
In so acting, we have examined originals or copies (certified or otherwise identified to our
satisfaction) of (i) the Registration Statement on Form S-3 (File No. 333-145894), filed by the
Company on September 6, 2007 (the Registration Statement), (ii) the prospectus, dated as of
September 6, 2007 (the Base Prospectus), which forms a part of the Registration Statement, (iii)
the preliminary prospectus supplement, dated November 5, 2009, (iv) the prospectus supplement,
dated November 5, 2009 (the Prospectus Supplement), (v) the base indenture, dated as of September
13, 2007, among the Company and U.S. Bank National Association, as trustee (the Trustee), as
supplemented by the first supplemental indenture dated September 13, 2007, the second supplemental
indenture dated May 23, 2008, the third supplemental indenture dated May 7, 2009 and the fourth
supplemental indenture dated November 20, 2009; (v) the opinion of Venable LLP dated November 20,
2009 attached as Exhibit 1 hereto (the Venable Opinion); and (vi) such corporate records,
agreements, documents and other instruments, and such certificates or comparable documents of
public officials and of officers and representatives of the Company, and have made such inquiries
of such officers and representatives, as we have deemed relevant and necessary as a basis for the
opinion hereinafter set forth. We refer to the Base Prospectus as supplemented by the Prospectus
Supplement as the Prospectus.
In such examination, we have assumed the genuineness of all signatures, the legal capacity of
all natural persons, the authenticity of all documents submitted to us as originals, the conformity
to original documents of all documents submitted to us as certified, conformed or photostatic
copies and the authenticity of the originals of such latter documents. As to all questions of fact
material to this opinion that have not been independently established, we have relied upon
certificates or comparable documents of officers and representatives of the Company. As to all
matters of Maryland law, we have relied upon the Venable Opinion.
Based on the foregoing, and subject to the qualifications stated herein, we are of the opinion
that (assuming the due authorization, execution and delivery thereof by the Trustee) the Securities
constitute valid and binding obligations of the Company, enforceable against the Company in
accordance with their terms.
The opinion expressed above with respect to validity, binding effect and enforceability are
subject to the effect of any applicable bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and similar laws affecting creditors rights and remedies generally and
subject, as to enforceability, to general principles of equity, including principles of commercial
reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a
proceeding at law or in equity) and except that rights to indemnification and contribution
thereunder may be limited by federal or state securities laws or public policy relating thereto.
The opinion expressed herein is limited to the laws of the State of New York, and we express
no opinion as to the effect on the matters covered by this letter of the laws of any other
jurisdiction.
We hereby consent to any and all references to our firm in the prospectus which is a part of
the Registration Statement.
Very truly yours, |
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/s/ Weil, Gotshal & Manges LLP | ||||
2
Exhibit 1
3
750 E. Pratt Street, Suite 900 Baltimore, Maryland 21202 |
Telephone 410-244-7400 Facsimile 410-244-7742 |
www.venable.com |
November 20, 2009
Starwood Hotels & Resorts Worldwide, Inc.
1111 Westchester Avenue
White Plains, New York 10604
1111 Westchester Avenue
White Plains, New York 10604
Re: | Registration Statement on Form S-3 |
Ladies and Gentlemen:
We have served as Maryland counsel to Starwood Hotels & Resorts Worldwide, Inc., a Maryland
corporation (the Company), in connection with certain matters of Maryland law arising out of the
registration by the Company of $250,000,000 aggregate principal amount of the Companys 7.150%
Senior Notes due 2019 (the Securities), covered by the above-referenced Registration Statement
and any amendments thereto (collectively, the Registration Statement), filed by the Company with
the U.S. Securities and Exchange Commission (the Commission) under the Securities Act of 1933, as
amended (the Securities Act). The Securities will be issued by the Company pursuant to that
certain Underwriting Agreement, dated as of November 5, 2009 (the Underwriting Agreement),
between the Company and Citigroup Global Markets Inc., as representative of the underwriters listed
in Schedule 1 thereto. Unless otherwise defined herein, capitalized terms used herein shall have
the meanings assigned to them in the Underwriting Agreement.
In connection with our representation of the Company, and as a basis for the opinion
hereinafter set forth, we have examined originals, or copies certified or otherwise identified to
our satisfaction, of the following documents (hereinafter collectively referred to as the
Documents):
1. The Registration Statement and the related form of prospectus included therein in the form
in which it was transmitted to the Commission under the 1933 Act;
2. The charter of the Company, certified as of a recent date by the State Department of
Assessments and Taxation of Maryland (the SDAT);
3. The Bylaws of the Company, certified as of the date hereof by an officer of the Company;
Starwood Hotels & Resorts Worldwide, Inc.
November 20, 2009
Page 2
November 20, 2009
Page 2
4. A certificate of the SDAT as to the good standing of the Company, dated as of a recent
date;
5. The following documents (together, the Note Documents):
(a) The Underwriting Agreement;
(b) The Indenture, dated as of September 13, 2007, between the Company and U.S. Bank National
Association, as trustee (the Trustee), as supplemented by Supplemental Indenture No. 1, dated as
of September 13, 2007, Supplemental Indenture No. 2, dated as of May 23, 2008, Supplemental
Indenture No. 3, dated as of May 7, 2009, and Supplemental Indenture No. 4, dated as of November
20, 2009, (as so supplemented, the Indenture); and
(c) The Global Note evidencing the Securities;
6. Resolutions of the Board of Directors of the Company relating to, among other things, the
execution and delivery by the Company of the Note Documents and the issuance of the Securities,
certified as of the date hereof by an officer of the Company;
7. A certificate executed by an officer of the Company, dated as of the date hereof; and
8. Such other documents and matters as we have deemed necessary or appropriate to express the
opinion set forth below, subject to the assumptions, limitations and qualifications stated herein.
In expressing the opinion set forth below, we have assumed the following:
1. Each individual executing any of the Documents, whether on behalf of such individual or
another person, is legally competent to do so.
2. Each individual executing any of the Documents on behalf of a party (other than the
Company) is duly authorized to do so.
Starwood Hotels & Resorts Worldwide, Inc.
November 20, 2009
Page 3
November 20, 2009
Page 3
3. Each of the parties (other than the Company) executing any of the Documents has duly and
validly executed and delivered each of the Documents to which such party is a signatory, and such
partys obligations set forth therein are legal, valid and binding and are enforceable in
accordance with all stated terms.
4. All Documents submitted to us as originals are authentic. The form and content of all
Documents submitted to us as unexecuted drafts do not differ in any material respect relevant to
this opinion from the form and content of such Documents as executed and delivered. All
Documents submitted to us as certified or photostatic copies conform to the original documents.
All signatures on all Documents are genuine. All public records reviewed or relied upon by us or
on our behalf are true and complete. All representations, warranties, statements and information
contained in the Documents are true and complete. There has been no oral or written modification
of or amendment to any of the Documents, and there has been no waiver of any provision of any of
the Documents, by action or omission of the parties or otherwise.
Based upon the foregoing, and subject to the assumptions, limitations and qualifications
stated herein, it is our opinion that:
1. The Company is a corporation duly incorporated and existing under and by virtue of the
laws of the State of Maryland and is in good standing with the SDAT.
2. The Securities have been duly authorized by the Company for issuance and sale pursuant to
the Note Documents and the Registration Statement.
The foregoing opinion is limited to the substantive laws of the State of Maryland and we do
not express any opinion herein concerning any other law. We express no opinion as to the
applicability or effect of federal or state securities laws, including the securities laws of the
State of Maryland, or as to federal or state laws regarding fraudulent transfers. We note that
each of the Note Documents provides that it shall be governed by the laws of the State of New
York. To the extent that any matter as to which our opinion is expressed herein would be
governed by the laws of any jurisdiction other than the State of Maryland, we do not express any
opinion on such matter. The opinion expressed herein is subject to the effect of judicial
decisions which may permit the introduction of parol evidence to modify the terms or the
interpretation of agreements.
Starwood Hotels & Resorts Worldwide, Inc.
November 20, 2009
Page 4
November 20, 2009
Page 4
The opinion expressed herein is limited to the matters specifically set forth herein and no
other opinion shall be inferred beyond the matters expressly stated. We assume no obligation to
supplement this opinion if any applicable law changes after the date hereof or if we become aware
of any fact that might change the opinion expressed herein after the date hereof.
This opinion is being furnished to you solely for your benefit in connection with the
registration of the Securities. Accordingly, it may not be relied upon by, quoted in any manner
to, or delivered to any other person or entity (except Weil, Gotshal & Manges LLP, counsel to the
Company, who may rely on this opinion as if it were addressed to them for the purpose of delivering
their opinions of even date herewith pursuant to the Registration Statement) without, in each
instance, our prior written consent. We hereby consent to the use of the name of our firm in the
prospectus which is part of the Registration Statement. In giving this consent, we do not admit
that we are within the category of persons whose consent is required by Section 7 of the 1933 Act.
Very truly yours, |
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/s/ Venable LLP | ||||