Contract
Exhibit 4.2
RELEASE OF CERTAIN GUARANTORS (this “Release”), dated as of June 30, 2009, by and among
CHS/COMMUNITY HEALTH SYSTEMS, INC., a Delaware corporation (the “Issuer”), those Subsidiary
Guarantors parties hereto, and U.S. BANK NATIONAL ASSOCIATION, as Trustee under the Indenture (the
“Trustee”).
W I T N E S S E T H:
WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an Indenture, dated
as of July 25, 2007, as supplemented by the First Supplemental Indenture, dated as of July 25,
2007, the Second Supplemental Indenture, dated as of December 31, 2007, the Third Supplemental
Indenture, dated as of October 10, 2008, the Fourth Supplemental Indenture, dated December 1, 2008,
the Fifth Supplemental Indenture, dated February 5, 2009, the Sixth Supplemental Indenture, dated
March 30, 2009 and the Seventh Supplemental Indenture of even date herewith (the “Indenture”),
providing for the issuance of the 87/8% Senior Notes due 2015 (the
“Securities”);
WHEREAS, pursuant to that certain Private Placement Memorandum, dated November 17, 2008 (as
amended, supplemented or otherwise modified from time to time, the “PPM”), San Xxxxxx Hospital,
L.P., a Delaware limited partnership (the “Partnership”), has offered and sold membership interests
in the Partnership to certain physician investors effective as of April 1, 2008 (such transaction,
the “Syndication”).
WHEREAS, (i) upon the consummation of the Syndication, the Subsidiary Guarantor listed on the
signature pages hereto (the “Syndicated Subsidiary Guarantor”) has been released as a Subsidiary
Guarantor under the Credit Agreement, dated as of July 25, 2007, by and among the Issuer, Community
Health Systems, Inc., the lenders that from time to time become parties to the Credit Agreement and
Credit Suisse, as Collateral Agent, and (ii) the Issuer has delivered an Officer’s Certificate to
the Trustee certifying that the Syndicated Subsidiary Guarantor no longer has any Indebtedness
outstanding that would require such Syndicated Subsidiary Guarantor to enter into a Guaranty
Agreement pursuant to Section 4.12 of the Indenture.
WHEREAS pursuant to Section 10.06(4) of the Indenture, a Guarantor will be released from its
obligations under the Indenture under the circumstances described in the immediately preceding
recital.
WHEREAS pursuant to the last sentence of Section 10.06 of the Indenture, the Issuer requests
and the Trustee is authorized to execute and deliver this Release evidencing such release pursuant
to Section 10.06(4) of the Indenture.
NOW THEREFORE, in consideration of the foregoing and for good and valuable consideration, the
receipt of which is hereby acknowledged, the Issuer, the Subsidiary Guarantor party hereto and the
Trustee mutually covenant and agree as follows:
SECTION 1. Capitalized Terms. Capitalized terms used herein but not defined shall have
the meanings assigned to them in the Indenture.
SECTION 2. Subsidiary Guarantor. Effective from and after the consummation of the
Syndication, the Syndicated Subsidiary Guarantor is hereby irrevocably released and discharged from
its obligations under Article 10 of the Indenture, any Guaranty Agreement to which it may be party
or any obligations with respect to the Securities.
SECTION 3. Ratification of Indenture; Release Part of Indenture. Except as expressly
modified hereby, the Indenture is in all respects ratified and confirmed and all the terms,
conditions and provisions
thereof shall remain in full force and effect. This Release shall form a part of the
Indenture for all purposes, shall inure to the benefit of the Issuer, the Syndicated Subsidiary
Guarantor, the Trustee and
every Holder of Securities heretofore or hereafter authenticated and the
Issuer, the Syndicated Subsidiary Guarantor, the Trustee and every Holder of Securities heretofore
or hereafter authenticated and delivered shall be bound hereby.
SECTION 4. Governing Law. THIS RELEASE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION 5. Trustee Makes No Representation. The Trustee makes no representation as to
the accuracy or correctness of the recitals of this Release.
SECTION 6. Counterparts. The parties may sign any number of copies of this Release.
Each signed copy shall be an original, but all of them together represent the same agreement.
SECTION 7. Effect of Headings. The Section headings herein are for convenience only
and shall not effect the construction of this Release.
IN WITNESS WHEREOF, the parties have caused this Release to be duly executed as of this 30th day of June 2009. |
CHS/Community Health Systems, Inc., a Delaware corporation |
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By: | /s/ Xxxxxx X. Xxxxxxx | |||
Xxxxxx X. Xxxxxxx | ||||
Senior Vice President, Secretary & General Counsel | ||||
Syndicated Subsidiary Guarantor: San Xxxxxx Hospital, L.P. |
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By: | /s/ Xxxxx X. Xxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxx | |||
Title: | Vice President, Finance and Treasurer | |||
U.S. Bank National Association, as Trustee |
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By:
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/s/ Xxxxx Xxxxx
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Xxxxx Xxxxx | ||||
Vice President |