SECOND SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"),
dated as of September 4, 1998, among ASC East, Inc., formerly American Skiing
Company, a Maine corporation (the "Company"), the Guarantors listed on the
signature pages hereof under the heading Existing Guarantors (the "Existing
Guarantors"), each of American Skiing Company Resort Properties, Inc., The
Canyons Resort Properties, Inc. Steamboat Resort Properties, Inc., Heavenly
Resort Properties, Inc., Sugarloaf Resort Properties, Inc., Killington Resort
Properties, Inc., Mount Snow Resort Properties, Inc., Sugarbush Resort
Properties, Inc., Sunday River Resort Properties, Inc. and Attitash Resort
Properties, Inc. (each a "New Guaranteeing Subsidiary and, together with the
Existing Guarantors, the "Guarantors") and United States Trust Company of New
York, as trustee under the Indenture referred to below (the "Trustee").
W I T N E S S E T H
WHEREAS, pursuant to the Indenture, dated as of June 28, 1996, among
this Company, the Existing Guarantors and the Trustee (the "Original
Indenture"), the Company duly issued its 12% Senior Subordinated Notes Due 2006
(the "Securities") in the aggregate principal amount of $120 million;
WHEREAS, the Original Indenture was amended by the Fist Supplemental
Indenture, dated as of November 12, 1997, among the Company, the Existing
Guarantors and the Trustee (the Original Indenture as so amended, the
"Indenture"):
WHEREAS, the Company acquired each New Guaranteeing Subsidiary on the
date hereof and the Company has provided the Trustee with an Officers'
Certificate to the effect that none of the New Guaranteeing Subsidiaries has
been designated as an Unrestricted Subsidiary under the terms of the Indenture;
WHEREAS, accordingly, pursuant to Section 4.16 of the Indenture, each
of the New Guaranteeing Subsidiaries is required, among other things, to become
a Guarantor and enter into a supplemental indenture agreeing to be bound by all
of the terms of the Indenture;
WHEREAS, pursuant to Section 9.01 of the Indenture, the Company, the
Existing Guarantors and the Trustee may amend or supplement the Indenture
without the consent of any Holder of a Note to provide for the addition of a
Guarantor pursuant to Section 4.16 of the Indenture;
WHEREAS, the Company, each of the Existing Guarantors, each of the New
Guaranteeing Subsidiaries and the Trustee desire and have agreed to execute and
deliver this Second Supplemental Indenture as herein provided and all conditions
and requirements necessary to make this Second Supplemental Indenture a valid,
binding and legal instrument in accordance with its terms have been performed
and fulfilled and the execution and delivery hereof have been in all respects
duly authorized by all necessary parties;
NOW THEREFORE, for and in consideration of the premises, it is mutually
covenanted and agreed for the benefit of all Holders of the Securities as
follows:
Section 1. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.
Section 2. Each New Guaranteeing Subsidiary agrees, by its execution
and delivery hereof, that it does hereby become a Guarantor under the Indenture
and that it is bound by all the terms of the Indenture as hereby supplemented.
Exhibit C to the Indenture is hereby amended to read as set forth in Annex I
attached hereto.
Section 3. The Trustee accepts this Supplemental Indenture and agrees
to execute the trust created by the Indenture as hereby supplemented, but only
upon the terms and conditions set forth in the Indenture, including the terms
and provisions defining and limiting the liabilities and responsibilities of the
Trustee, which terms and provisions shall in like manner define and limit its
liabilities and responsibilities in the performance of the trust created by the
Indenture as hereby supplemented.
Section 4. The Indenture, supplemented as hereinabove set forth, is in
all respects ratified and confirmed, and the terms and conditions thereof,
supplemented as hereinabove set forth, shall be and remain in full force and
effect.
Section 5. The recitals contained in this Supplemental Indenture shall
be taken as the statements made solely by the Company and the Guarantors, and
the Trustee shall have no liability or responsibility for their correctness and,
without limiting the generality of the foregoing, the Trustee shall not be
responsible in any manner whatsoever for or with respect to (i) the validity or
sufficiency of this Supplemental Indenture or any of the terms of provisions
hereof, (ii) the proper authorization hereof by the Company and the Guarantors
by corporate action or otherwise, (iii) the due execution hereof by the Company
and the Guarantors or (iv) the consequences (direct or indirect and whether
deliberate or inadvertent) of any amendment herein provided for, and the Trustee
makes no representation with respect to any such matters.
Section 6. This Supplemental Indenture shall become effective upon the
execution and delivery hereof by the Company, the Guarantors and the Trustee.
SECTION 7. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT
GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT
THE APPLICATION OF THE LAWS OF ANOTHER JURISDICITON WOULD BE REQUIRED THEREBY.
Section 8. This Supplemental Indenture may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.
IN WITNES WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed and attested, all as of the date first above
written.
ASC EAST, INC. (f/k/a AMERICAN
SKIING COMPANY)
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
Guarantors
AMERICAN SKIING COMPANY RESORT
PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
THE CANYONS RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
STEAMBOAT RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
HEAVENLY RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARLOAF RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
KILLINGTON RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
MOUNT SNOW RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARBUSH RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUNDAY RIVER RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
ATTITASH RESORT PROPERTIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
Exisiting Guarantors
SUNDAY RIVER SKIWAY CORPORATION
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUNDAY RIVER, LTD.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
PERFECT TURN, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
LBO HOLDINGS, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUNDAY RIVER TRANSPORTATION, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARBUSH RESORT HOLDINGS, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARBUSH LEASING COMPANY
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARBUSH RESTAURANTS, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
AJT, INC. (f/k/a CRANMORE, INC.)
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
MOUNTAIN WASTEWATER TREATMENT, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
GRAND SUMMIT RESORT PROPERTIES,INC.
(f/k/a LBO HOTEL CO.)
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
S-K-I LIMITED
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
KILLINGTON LTD.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
MOUNT SNOW LTD.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
WVSAL, INC. (f/k/a WATERVILLE
VALLEY SKI AREA, LTD.)
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARLOAF MOUNTAIN CORPORATION
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
KILLINGTON RESTAURANTS, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
DOVER RESTAURANTS, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
RESORTS TECHNOLOGIES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
RESORT SOFTWARE SERVICES, INC.
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
MOUNTAINSIDE
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
SUGARTECH
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
PICO SKI AREA MANAGEMENT COMPANY
ATTEST: /s/ Xxxxxx X. Xxxxxxx, Xx. By: /s/ Xxxxxxxxxxx X. Xxxxxx
---------------------- ------------------------------------
Name: Xxxxxxxxxxx X. Xxxxxx
Title: Executive Vice President
UNITED STATES TRUST COMPANY OF
NEW YORK, as Trustee
ATTEST: unable to read By:/s/ Xxxxx X. Xxxxx
---------------- ----------------------------------
Name: Xxxxx X. Xxxxx
Title: Vice President