SWIFT FOODS COMPANY AS ISSUER AND S&C HOLDCO 3, INC. AS GUARANTOR AND THE BANK OF NEW YORK TRUST COMPANY, N.A. AS TRUSTEE FIRST SUPPLEMENTAL INDENTURE DATED AS OF JUNE 21, 2007 TO INDENTURE DATED AS OF MARCH 11, 2005
Exhibit 4.3
SWIFT FOODS COMPANY
AS ISSUER
AND
S&C HOLDCO 3, INC.
AS GUARANTOR
AND
THE BANK OF NEW YORK TRUST COMPANY, N.A.
AS TRUSTEE
10.25% CONVERTIBLE SENIOR SUBORDINATED NOTES DUE 2010
FIRST SUPPLEMENTAL INDENTURE, dated as of June 21, 2007, by and among Swift Foods Company, a
Delaware corporation (the “Company”), S&C Holdco 3, Inc., a Delaware corporation and
wholly-owned indirect subsidiary of the Company (the “Guarantor), and The Bank of New York
Trust Company, N.A., as trustee (the “Trustee”).
WHEREAS, the Company and the Guarantor have heretofore executed and delivered to the Trustee an
Indenture, dated as of March 11, 2005 (the “Indenture”), providing for the issuance of
10.25% Convertible Senior Subordinated Notes due 2010 (the “Notes”); and
WHEREAS, there have been issued and are now outstanding under the Indenture, Notes in the aggregate
principal amount of approximately $94.2 million; and
WHEREAS, Section 9.02 of the Indenture provides that the Company and the Trustee may amend or
supplement certain provisions of the Indenture with the consent of the holders of a majority in
principal amount of the Notes then outstanding; and
WHEREAS, the Company has offered to purchase each of the Notes for cash, upon the terms and subject
to the conditions set forth in that certain Offer to Purchase and Consent Solicitation Statement,
dated June 7, 2007 (the “Offer Statement”), and the accompanying Consent and Letter of
Transmittal (the “Letter of Transmittal” and, together with the Offer Statement and the
ancillary documents associated therewith, the “Offer to Purchase”); and
WHEREAS, under the terms of the Offer to Purchase, holders that tender Notes in accordance with the
terms of the Offer to Purchase and who deliver a duly executed Letter of Transmittal are deemed to
consent to certain amendments to the Indenture which would permanently delete or amend certain of
the covenants, events of default and other related provisions of the Indenture (the “Proposed
Amendments”); and
WHEREAS, in accordance with the terms of the Indenture, holders of a majority in principal amount
of the outstanding Notes have tendered their Notes and consented to the Proposed Amendments to be
effected by this First Supplemental Indenture; and
WHEREAS, the execution and delivery of this First Supplemental Indenture has been authorized by
resolutions of the Boards of Directors of the Company and the Guarantor, and the Trustee has
received an Officer’s Certificate and an Opinion of Counsel pursuant to Section 9.07 of the
Indenture; and
WHEREAS, all conditions and requirements necessary to make this First Supplemental Indenture a
valid, legal, binding and enforceable instrument in accordance with its terms have been performed
and fulfilled by the parties and the execution and delivery thereof have been in all respects duly
authorized by the parties hereto.
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NOW, THEREFORE, in consideration of the above premises, each party hereby agrees, for the benefit
of the others and for the equal and ratable benefit of the holders of Notes, as follows:
ARTICLE 1.
AMENDMENT TO INDENTURE
SECTION 1.1. AMENDMENT. Effective as of the Operative Date (as hereinafter defined), the
Indenture is hereby amended as follows:
(a) The following sections of the Indenture are deleted in their entirety: Sections 4.02, 4.03,
4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16, 4.17, 4.18, 4.19,
4.20, 4.21, 4.22, 4.23, 4.24, 4.25, 4.27, 5.01(c)(iii)(B), 5.02, 6.01(v), 6.01(vi), 6.01(vii),
6.01(viii), 6.05, 8.04(b), 8.04(c), 8.04(f), 8.04(h) and 8.04(i).
The text of the above sections are replaced by the phrase “[Intentionally Omitted]” and the
surrounding sections are not renumbered.
(b) Section 4.26 is deleted in its entirety except as herein provided, such that Section 4.26, as
amended, shall read as follows:
In addition, any Guarantee by a Restricted Subsidiary will be
automatically and unconditionally released and discharged if
Holdco 3 designates such Restricted Subsidiary as an Unrestricted
Subsidiary in accordance with this Indenture.
(c) Sections of the Indenture and the Notes not amended pursuant to Sections 1.1(a) or 1.1(b)
hereof are amended to delete any references in the Indenture or the Notes to sections deleted
pursuant to Sections 1.1(a) and 1.1(b) hereof.
(d) All definitions set forth in Section 1.01 of the Indenture that relate to defined terms used
solely in the sections deleted hereby are deleted in their entirety.
SECTION 1.2. WAIVER. Subject to Section 6.04 of the Indenture (to the extent applicable), all
Defaults and Events of Default that may exist under the Indenture as of the Operative Date are
hereby waived.
ARTICLE II
MISCELLANEOUS PROVISIONS
SECTION 2.1. DEFINED TERMS. For all purposes of this First Supplemental Indenture, except as
otherwise defined or unless the context otherwise requires, terms
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used in capitalized form in this First Supplemental Indenture and defined in the Indenture have the
meanings specified in the Indenture.
SECTION 2.2. INDENTURE. Except as amended hereby, the Indenture and the Notes are in all respects
ratified and confirmed and all the terms shall remain in full force and effect.
SECTION 2.3. GOVERNING LAW. THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF
LAWS.
SECTION 2.4. SUCCESSORS. All agreements of the Company and the Guarantor in this First
Supplemental Indenture and the Notes shall bind their respective successors. All agreements of the
Trustee in this First Supplemental Indenture shall bind its successors.
SECTION 2.5. DUPLICATE ORIGINALS. All parties may sign any number of copies of this First
Supplemental Indenture. Each signed copy shall be an original, but all of them together shall
represent the same agreement.
SECTION 2.6. SEVERABILITY. In case any one or more of the provisions in this First Supplemental
Indenture or in the Notes shall be held invalid, illegal or unenforceable, in any respect for any
reason, the validity, legality and enforceability of any such provision in every other respect and
of the remaining provisions shall not in any way be affected or impaired thereby, it being intended
that all of the provisions hereof shall be enforceable to the full extent permitted by law.
SECTION 2.7. TRUSTEE DISCLAIMER. The Trustee accepts the amendment of the Indenture effected by
this First Supplemental Indenture, but on the terms and conditions set forth in the Indenture,
including the terms and provisions defining and limiting the liabilities and responsibilities of
the Trustee, and without limiting the generality of the foregoing, the Trustee shall not be
responsible in any manner whatsoever for or with respect to any of the recitals or statements
contained herein, all of which recitals or statements are made solely by the Company and the
Guarantor, or for or with respect to (i) the validity or sufficiency of this First Supplemental
Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by the
Company and the Guarantor by corporate action or otherwise, (iii) the due execution hereof by the
Company and the Guarantor 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 2.8. EFFECTIVENESS. This First Supplemental Indenture shall become effective upon
execution. The amendments to the Indenture made hereby shall only become operative at such time as
the Company accepts the Notes tendered pursuant to the Offer to Purchase for payment (the
“Operative Date”). In the event the Company
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withdraws or terminates the Offer to Purchase, or any condition of the Offer to Purchase is not
satisfied or waived by the Company, on or prior to the Final Acceptance Date (as defined in the
Offer to Purchase), this First Supplemental Indenture shall become null and void.
[The Remainder of This Page is Intentionally Left Blank]
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IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly
executed as of the day and year written above.
| SWIFT FOODS COMPANY, as Issuer |
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| By: | /s/ Xxxxxx X. Xxxxxxx | |||
| Name: | Xxxxxx X. Xxxxxxx | |||
| Title: | Senior Vice President, General Counsel and Secretary |
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| S&C HOLDCO 3, INC., as Guarantor |
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| By: | /s/ Xxxxxx X. Xxxxxxx | |||
| Name: | Xxxxxx X. Xxxxxxx | |||
| Title: | Senior Vice President, General Counsel and Secretary |
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| THE BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee |
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| By: | /s/ Xxxx Xxxxxxxx Xxxxxxx | |||
| Name: | Xxxx Xxxxxxxx Xxxxxxx | |||
| Title: | Assistant Vice President | |||
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