Attached files
file | filename |
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8-K - FORM 8-K - WASTE MANAGEMENT INC | h68644e8vk.htm |
EX-4.2 - EX-4.2 - WASTE MANAGEMENT INC | h68644exv4w2.htm |
EX-1.1 - EX-1.1 - WASTE MANAGEMENT INC | h68644exv1w1.htm |
EX-4.4 - EX-4.4 - WASTE MANAGEMENT INC | h68644exv4w4.htm |
Exhibit 5.1
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ONE SHELL PLAZA 910 LOUISIANA HOUSTON, TEXAS 77002-4995 |
AUSTIN BEIJING DALLAS DUBAI HONG KONG |
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TEL +1 713.229.1234 FAX +1 713.229.1522 www.bakerbotts.com |
HOUSTON LONDON MOSCOW NEW YORK PALO ALTO RIYADH |
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WASHINGTON |
November 16, 2009
Waste Management, Inc.
Waste Management Holdings, Inc.
1001 Fannin Street, Suite 4000
Houston, Texas 77002
Waste Management Holdings, Inc.
1001 Fannin Street, Suite 4000
Houston, Texas 77002
Ladies and Gentlemen:
Waste Management, Inc., a Delaware corporation (the Company), and Waste Management Holdings,
Inc., a Delaware corporation (Holdings), have engaged us to render the opinions expressed below
in connection with the Companys proposed issuance of $600,000,000 aggregate principal amount of
6.125% Senior Notes due 2015 (the Notes) and the issuance of the related guarantee of the Notes
by Holdings (the Guarantee), as contemplated by the Registration Statement on Form S-3
(Registration No. 333-162059) (the Registration Statement), filed with the Securities and
Exchange Commission (the Commission) under the Securities Act of 1933, as amended (the Act),
relating to the offering of securities of the Company and of Holdings from time to time pursuant to
Rule 415 under the Act.
The Registration Statement has been filed with the Commission and became effective upon
filing. The Companys prospectus dated September 22, 2009 and prospectus supplement dated November
12, 2009 relating to the Notes (collectively, the Prospectus) have been filed with the Commission
pursuant to Rule 424(b) under the Act.
The Company and Holdings entered into an Underwriting Agreement (the Underwriting
Agreement), dated November 12, 2009, with BNP Paribas Securities Corp., J.P. Morgan Securities
Inc., Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC, as representatives of the
underwriters named therein (the Underwriters), relating to the issuance and sale by the Company
to the Underwriters of the Notes to be issued pursuant to an Indenture (the Indenture) dated as
of September 10, 1997 between the Company, formerly known as USA Waste Services, Inc., and The Bank
of New York Mellon Trust Company, N. A., as successor to Texas Commerce Bank National Association,
as trustee (the Trustee).
In our capacity as counsel to the Company and Holdings in connection with the matters referred
to above, we have examined the following: (i) the Second Amended and Restated Certificate of
Incorporation and the Bylaws of the Company, each as amended to date; (ii) the Certificate of
Incorporation and Bylaws of Holdings, each as amended to date; (iii) the Indenture; (iv) the
Guarantee to be entered into by Holdings in favor of the holders of the Notes concurrently
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Waste Management, Inc. | November 16, 2009 |
with the
issuance of the Notes under the Indenture (the Guarantee Agreement); (v) the Underwriting
Agreement; (vi) the Registration Statement and the Prospectus; and (vii) originals, or copies
certified or otherwise identified, of corporate records of the Company and Holdings, certificates
of public officials and of representatives of the Company and Holdings, statutes and other
instruments and documents as a basis for the opinions hereinafter expressed. We have relied upon
certificates of officers of the Company and Holdings and of public officials with respect to the
accuracy of the material factual matters contained in such certificates. In making our
examination, we have assumed that all signatures on documents examined by us are genuine, all
documents submitted to us as originals are authentic and all documents submitted to us as certified
or photostatic copies conformed with the originals of such documents.
In connection with this opinion, we have assumed that the Notes will be issued and sold in
compliance with applicable federal and state securities laws and in the manner stated in the
Registration Statement and the Prospectus.
On the basis of the foregoing, and subject to the assumptions, limitations and qualifications
set forth herein, we are of the opinion that (i) the Notes will, when they have been duly
authorized, executed, authenticated, issued and delivered in accordance with the provisions of the
Indenture and duly purchased and paid for in accordance with the terms of the Underwriting
Agreement, constitute legal, valid and binding obligations of the Company enforceable against it in
accordance with their terms, except to the extent that the enforceability thereof may be limited by
bankruptcy, fraudulent conveyance, insolvency, reorganization, moratorium or other laws relating to
or affecting creditors rights generally and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law), which principles may include
implied duties of good faith and fair dealing; and (ii) the Guarantee will, when Holdings has duly
authorized, executed and delivered the Guarantee Agreement and the Notes have been duly authorized,
executed, authenticated, issued and delivered in accordance with the provisions of the Indenture
and duly purchased and paid for in accordance with the terms of the Underwriting Agreement,
constitute a legal, valid and binding obligation of Holdings enforceable against it in accordance
with its terms, except to the extent that the enforceability thereof may be limited by bankruptcy,
fraudulent conveyance, insolvency, reorganization, moratorium or other laws relating to or
affecting creditors rights generally and by general principles of equity (regardless of whether
such enforcement is considered in a proceeding in equity or at law), which principles may include
implied duties of good faith and fair dealing, and except for provisions purporting to waive rights
to notice, legal defenses, statutes of limitation or other benefits that cannot be waived under
applicable law.
The opinions set forth above are limited in all respects to matters of the General Corporation
Law of the State of Delaware, the contract law of the State of New York, and applicable federal
laws of the United States, each as currently in effect.
We hereby consent to the filing of this opinion of counsel as Exhibit 5.1 to the Current
Report on Form 8-K and to the incorporation by reference of this opinion of counsel into the
Registration Statement. We also consent to the reference to our Firm under the heading Legal
Matters in the Prospectus. In giving this consent, we do not thereby admit that we are in the
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Waste Management, Inc. | November 16, 2009 |
category of persons whose consent is required under Section 7 of the Act and the rules and
regulations of the Commission thereunder.
Very truly yours,
/s/ Baker Botts L.L.P.
JDK/JAR/JAA