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XXXXXXX TRUCK LEASING CORP.
and
BANK OF AMERICA ILLINOIS
as Trustee
FOURTEENTH SUPPLEMENTAL INDENTURE
Dated as of May 15, 1995
TO THE
Collateral Trust Indenture
Dated as of March 21, 1983
7 1/4% COLLATERAL TRUST DEBENTURES, SERIES O, DUE MAY 15, 2005
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TABLE OF CONTENTS*
Page
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PARTIES 1
RECITALS:
Execution of Collateral Trust Indenture Supplemental
Indentures 1
Issuance of Series O Debentures 1
Text of Forms:
Form of Face of Series O Debentures 1
Form of Trustee's Authentication Certificate
for Series O Debentures 3
Form of Reverse of Series O Debentures 4
All Things Done 5
GRANTING CLAUSES:
GRANTING CLAUSE I - Securities 6
GRANTING CLAUSE II - Agreements and Assignments 6
GRANTING CLAUSE III - Other Securities and Property 6
HABENDUM 6
GRANT IN TRUST 6
GENERAL COVENANT 6
SECTION 1. Series O Debentures: Terms and Provisions 7
SECTION 2. Authentication and Delivery of Series O Debentures 7
SECTION 3. Maintenance of Office or Agency; Authenticating
Agent for Series O Debentures 7
SECTION 4. Original Indenture Ratified 8
SECTION 5. Trustee Not Responsible 8
SECTION 6. Defined Terms 8
SECTION 7. Counterparts 8
SECTION 8. Applicable Law 8
TESTIMONIUM 8
EXECUTION 8
ACKNOWLEDGEMENTS 8
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*Note: This Table of Contents has been inserted for convenience and does not
constitute a part of the Fourteenth Supplemental Indenture.
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FOURTEENTH SUPPLEMENTAL INDENTURE (herein called the "Fourteenth
Supplemental Indenture"), dated as of May 15, 1995, between Xxxxxxx Truck
Leasing Corp., (formerly RLC CORP.) a Delaware corporation (herein called the
"Corporation"), and BANK OF AMERICA ILLINOIS, an Illinois banking corporation,
as Trustee (herein called the "Trustee").
WHEREAS, the Corporation and the Trustee have heretofore executed and
delivered a Collateral Trust Indenture dated as of March 21, 1983, as
supplemented and amended by a Third Supplemental Indenture thereto dated as of
February 20, 1986 and by an Eighth Supplemental Indenture dated May 15, 1990,
(the "Original Indenture"; the Original Indenture, and as supplemented by this
Fourteenth Supplemental Indenture, being herein called the "Indenture");
WHEREAS, the Original Indenture provides that the Corporation and the
Trustee may enter into indentures supplemental to the Original Indenture, among
other things, to provide for the issuance from time to time of debentures
(defined in the Original Indenture as "Debentures") of the Corporation;
WHEREAS, the Corporation has determined to issue hereunder a series of
Debentures (herein called the "Series O Debentures") to be designated as "7 1/4%
Collateral Trust Debentures, Series O, Due May 15, 2005", to be in the aggregate
principal amount of not in excess of $50,000,000;
WHEREAS, the Series O Debentures and the Trustee's certificate to be
endorsed on the Series O Debentures are to be substantially in the following
forms, with necessary or appropriate variations, omissions and insertions as
permitted or required by the Indenture:
(FORM OF FACE OF SERIES O DEBENTURES)
Xxxxxxx Truck Leasing Corp.
7 1/4% COLLATERAL TRUST DEBENTURE, SERIES O, DUE MAY 15, 2005
$_________________
No._________________
Xxxxxxx Truck Leasing Corp., a corporation organized and existing under
the laws of the State of Delaware (herein called the "Corporation", which term
shall include any successor corporation to the extent provided in the Indenture
hereinafter referred to), for value received, hereby promises to pay to
_____________, or registered assigns, the principal sum of _____________ Dollars
on May 15, 2005, in such coin or currency of the United States of America as at
the time of payment shall be legal tender for public and private debts,
and to pay interest on said principal sum at the rate of 7 1/4% per annum (and
at the same rate per annum on any overdue principal and, to the extent legally
enforceable, overdue installment of interest) in like coin or currency from the
fifteenth day of May or November, as the case may be, to which interest on the
Series O Debentures has been paid preceding the date hereof (unless the date
hereof is a May 15 or November 15 to which interest has been paid, in which case
from the date hereof, or unless no interest has been paid on the Series O
Debentures since the original issuance of this Debenture, in which case from May
15, 1995), semiannually on May 15 and November 15 until payment of said
principal sum has been made or duly provided for. Notwithstanding the foregoing,
if the date hereof is after May 1 or November 1, as the case may be, and before
the following May 15 or November 15, this Debenture shall bear interest from
such May 15 or November 15; provided, however, that if the Corporation shall
default in the payment of interest due on such May 15 or November 15, then this
Debenture shall bear interest from the next preceding May 15 or November 15 to
which interest has been paid or, if no interest has been paid on the Series O
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Debentures since the original issuance of this Debenture, from May 15, 1995. The
interest so payable on any May 15 or November 15 will, subject to certain
exceptions provided in the Indenture referred to on the reverse hereof, be paid
to the person in whose name this Debenture is registered at the close of
business on May 1 or November 1, as the case may be, next preceding such May 15
or November 15. Payment of the principal of and interest on this Debenture will
be made at the office or agency of the Corporation in the City of Chicago,
Illinois, or in the Borough of Manhattan, The City of New York, New York;
provided, however, that interest may be paid, at the option of the Corporation,
by check mailed to the registered holder hereof at his address last appearing on
the registry books for the Series O Debentures.
Additional provisions of this Debenture are contained on the reverse
hereof and such provisions shall for all purposes have the same effect as though
fully set forth at this place.
This Debenture shall not be entitled to any of the benefits of the
Indenture or any indenture supplemental thereto, or be valid or obligatory for
any purpose, unless the form of certificate of authentication hereon shall have
been executed by or on behalf of the Trustee (referred to on the reverse hereof)
or a successor trustee thereto under the Indenture.
IN WITNESS WHEREOF, Xxxxxxx Truck Leasing Corp. has caused this
instrument to be signed in its name by its President or a Vice President and by
its Secretary or an Assistant Secretary, or by facsimiles of any of their
signatures, and its corporate seal, or a facsimile thereof, to be hereto
affixed.
DATED:
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Xxxxxxx Truck Leasing Corp.
BY:
---------------------------------
(Title)
(SEAL)
ATTESTED:
----------------------------------
(Title)
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(FORM OF TRUSTEE'S AUTHENTICATION CERTIFICATE)
TRUSTEE'S AUTHENTICATION CERTIFICATE
THIS IS ONE OF THE DEBENTURES, OF THE SERIES DESIGNATED THEREIN,
DESCRIBED IN THE WITHIN-MENTIONED INDENTURE.
BANK OF AMERICA ILLINOIS
AS TRUSTEE
BY:
---------------------------------
AUTHORIZED OFFICER
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(FORM OF REVERSE OF SERIES O DEBENTURES)
This Debenture is one of the Debentures of the Corporation (herein
called the "Debentures"), all duly authorized or from time to time to be duly
authorized and not limited in aggregate principal amount, all issued and to be
issued in one or more series from time to time under and equally secured by a
Collateral Trust Indenture dated as of March 21, 1983, between the Corporation
and Bank of America Illinois, (formerly known as Continental Bank, National
Association), as Trustee (herein called the "Trustee", which term includes any
successor trustee under the Indenture as hereinafter defined), as supplemented
and amended by a Third Supplemental Indenture thereto dated as of February 20,
1986, and by an Eighth Supplemental Indenture, dated as of May 15, 1990, and as
last supplemented by the Fourteenth Supplemental Indenture, dated as of May 15,
1995 (said Indenture, as so supplemented and amended, being herein called the
"Indenture"), to which Indenture and all indentures supplemental thereto
reference is hereby made for a description of the property thereby pledged, the
nature and extent of the security, the rights of the holders of the Debentures
in respect of the security, the rights, duties and immunities of the Trustee and
the rights and obligations of the Corporation in respect of the Debentures, and
the terms and conditions upon which the Debentures are, and are to be, secured.
The Debentures may be issued in series, for various principal sums, may mature
at different times, may bear interest at different rates and may otherwise vary
as in the Indenture provided. This Debenture is one of a series designated as
the "7 1/4% Collateral Trust Debentures, Series O, due May 15, 2005" of the
Corporation (herein called the "Series O Debentures"), duly authorized and
lawfully issued in an aggregate principal amount not exceeding $50,000,000 under
and secured by the Indenture.
The provisions of the Indenture may be waived, or modified or amended
by supplemental indenture, to the extent and in the manner provided in the
Indenture, but in certain instances only with the consent of the holders of a
majority in aggregate principal amount of all Debentures at the time
outstanding, and of 66 2/3% in aggregate principal amount of each series of the
Debentures at the time outstanding which is affected by such waiver or
supplemental indenture; provided, however, that, without the written consent of
the holder of this Debenture, no such modification or amendment shall be made so
as to (i) extend the fixed maturity of this Debenture or the time of payment of
interest hereon, or reduce or otherwise modify the terms of payment of the
principal of, or the rate of interest on, this Debenture, or adversely affect
the right of the holder hereof to institute suit for the enforcement of any such
payment, (ii) permit the creation of any lien ranking prior to or on a parity
with the lien of the Indenture with respect to, or terminate the lien of the
Indenture on, any of the property covered thereby, or deprive the holder hereof
of the security afforded by the lien of the Indenture or (iii) reduce the
percentage of the aggregate principal amount of Debentures, or of Series O
Debentures, required to authorize any such modification or amendment or any
waiver of any provision of, or default under, the Indenture.
In case an Event of Default (as defined in the Indenture) shall occur,
the principal of all the Debentures at any such time outstanding under the
Indenture may be declared or may become due and payable upon the conditions and
in the manner and with the effect provided in the Indenture. The Indenture
provides that in certain events such Event of Default and its consequences may
be waived and such declaration may be rescinded by the holders of outstanding
Debentures in the manner provided in the Indenture.
Any request, demand, authorization, direction, declaration, notice,
consent, waiver or other action by the holder of this Debenture shall bind the
holder of every Debenture issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, in respect of anything done or suffered to
be done by or on behalf of the Trustee or the Corporation in reliance thereon,
whether or not notation of such action is made upon this Debenture.
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The Series O Debentures may not be redeemed prior to maturity.
The transfer of this Debenture may be registered by the registered
holder hereof or by his duly authorized attorney at the office or agency of the
Corporation in the City of Chicago, Illinois, or in the Borough of Manhattan,
the City of New York, New York, upon surrender of this Debenture for
cancellation, accompanied by a written instrument of transfer in a form approved
by the Corporation, duly executed by the registered holder of this Debenture or
by his duly authorized attorney, and thereupon one or more new Debentures of the
same series and aggregate principal amount will be issued in the name of the
transferee or transferees in exchange herefor without service charge, except
that the Corporation may require payment of a sum sufficient to pay any stamp
taxes or other governmental charges that may be required with respect thereto,
as provided in the Indenture.
The person in whose name this Debenture shall be registered shall be
deemed the absolute owner hereof for all purposes, and payment of or on account
of the principal of and interest on, this Debenture shall be made only to or
upon the written order of such registered owner or his duly authorized attorney.
All such payments shall satisfy and discharge the liability upon this Debenture
to the extent of the amounts so paid.
No recourse shall be had for the payment of the principal of, or
interest on, this Debenture, or for any claim based hereon, or otherwise in
respect hereof, or based on or in respect of the Indenture or any indenture
supplemental thereto, against any incorporator, stockholder, officer or
director, as such, past, present or future, of the Corporation or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise, all such liability
being, by the acceptance hereof and as part of the consideration for the issue
hereof, expressly waived and released.
(END OF FORM OF REVERSE OF SERIES O DEBENTURES)
WHEREAS, the Debentures of any other series are to be substantially in
the forms herein provided for Series O Debentures, with such omissions,
insertions and variations as may be authorized and permitted by this Indenture;
and
WHEREAS, all acts and things prescribed by law, by the Articles of
Incorporation and the By-laws of the Corporation, and all other acts and things
necessary to make the Series O Debentures, when executed by the Corporation, and
authenticated and delivered by the Trustee as in this Fourteenth Supplemental
Indenture provided, the valid, binding and legal obligations of the Corporation,
and to make this Fourteenth Supplemental Indenture a valid, binding and legal
instrument for the security of the Series O Debentures, in accordance with its
terms, have been done and performed;
NOW, THEREFORE, THIS FOURTEENTH SUPPLEMENTAL INDENTURE WITNESSETH:
THAT the Corporation, in consideration of these premises, of the
acceptance by the Trustee of the trusts created hereby, of the mutual covenants
herein contained, of the purchase and acceptance of the Debentures by the
holders thereof, of the sum of $10 duly paid by the Trustee to the Corporation
at or before the ensealing and delivery of this Fourteenth Supplemental
Indenture and for other valuable consideration, the receipt whereof is hereby
acknowledged, and in order to secure the payment of the principal of, and
premium, if any, and interest on, all Debentures at any time issued and
Outstanding under the Indenture, according to their tenor and effect, and the
performance and observance by the Corporation of all the covenants and
conditions herein and therein contained on its part to be performed and
observed, and to declare the terms and conditions upon and subject to which the
Debentures are, and are to be, issued and secured, has executed and delivered
this Indenture and has granted,
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bargained, sold, remised, released, conveyed, assigned, transferred, mortgaged,
pledged, set over, confirmed and warranted, and by these presents does grant,
bargain, sell, remise, release, convey, assign, transfer, mortgage, pledge, set
over, confirm and warrant, to the Trustee, and to its successors in the trusts
and its and their assigns forever, with power of sale, all and singular the
following:
GRANTING CLAUSE I
Securities
Note of Xxxxxxx Leasing Corp., a Delaware corporation dated May 15,
1995 in the aggregate principal amount of $50,000,000.
GRANTING CLAUSE II
Agreements and Assignments
The following agreements and assignments:
A. A Loan Agreement dated as of May 15, 1995, between the Corporation
and Xxxxxxx Leasing Corp., which Loan Agreement shall be in the form attached
hereto as Exhibit A, with such insertions, omissions, substitutions and
variations as the Board of Directors and the Trustee may deem appropriate and as
shall not be inconsistent with the provisions of the Fourteenth Supplemental
Indenture or the Original Indenture.
B. Assignment dated as of May 15, 1995, of the Loan Agreement described
in Subparagraph A of this Granting Clause II, which Assignment shall be in the
form attached hereto as Exhibit B, with such insertions, omissions,
substitutions and variations as the Board of Directors and the Trustee may deem
appropriate and as shall not be inconsistent with the provisions of the
Fourteenth Supplemental Indenture or the Original Indenture.
GRANTING CLAUSE III
Other Securities and Property
All other securities and other property, including cash, and any and
all security therefor of whatsoever nature, that may, from time to time
hereafter, by delivery or by writing of any kind, be subjected to the lien
hereof by the Corporation or by anyone on its behalf; and the Trustee is hereby
authorized to receive the same as additional security hereunder. Such subjection
to the lien hereof of such securities or other property, including cash, as
additional security hereunder may be made subject to any reservations,
limitations or conditions which shall not be prohibited by this Indenture and
which shall be set forth in a written instrument executed by the Corporation or
the person so acting on its behalf, respecting the use and disposition of such
property or the proceeds thereof.
TO HAVE AND TO HOLD the Pledged Property unto the Trustee and its
successors and assigns forever;
BUT IN TRUST, NEVERTHELESS, for the equal and proportionate benefit and
security of the holders from time to time of all the Debentures issued hereunder
and Outstanding, without any priority of any of said Debentures over any of the
others.
IT IS HEREBY COVENANTED, DECLARED AND AGREED that all the Debentures
are to be issued, authenticated and delivered, and that all property, including
cash, subject or to become subject hereto is to be held, subject to the further
covenants, conditions, uses and trusts hereinafter set forth, and the
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Corporation, for itself and its successors and assigns, hereby covenants and
agrees to and with the Trustee and its successors in said trust for the equal
and proportionate benefit and security of those who shall hold the Debentures,
as hereinafter set forth.
SECTION 1. Series O Debentures: Terms and Provisions. Series O
Debentures shall be designated as "7 1/4% Collateral Trust Debentures, Series O,
due May 15, 2005" of the Corporation, and shall have the following terms and
provisions:
(a) Series O Debentures shall be substantially in the form set
forth in the recitals hereto.
(b) The aggregate principal amount of Series O Debentures which
may be issued shall be limited to $50,000,000, except Series O
Debentures issued in exchange for, in lieu of, in substitution for, or
upon the registration of transfer of, other Series O Debentures
pursuant to the provisions of Article II and Section 18.04 of the
Original Indenture.
(c) Series O Debentures shall be dated as provided in Section
2.06(b) of the Original Indenture.
(d) Series O Debentures shall mature May 15, 2005 and shall bear
interest (calculated on the basis of a 360 day year of twelve 30 day
months) as provided in Section 2.06(b) of the Original Indenture,
payable semiannually on May 15 and November 15 in each year,
commencing November 15, 1995, at the rate of 7 1/4% per annum until
the principal thereof shall become due and payable (whether at the
stated maturity, by declaration or otherwise), and at the same rate
per annum on any overdue principal, and (to the extent legally
enforceable) any overdue installment of interest. Payment of principal
and interest shall be made at the Corporate Trust Office or at the
other office or agency maintained by the Corporation as provided in
Section 7.02(a) of the Original Indenture, in such coin or currency of
the United States of America as at the time of payment shall be legal
tender for the payment of public and private debts; provided, however,
that interest may be paid, at the option of the Corporation, by check
mailed to the Person entitled thereto at his address last appearing on
the registry books required to be kept pursuant to Section 2.05 of the
Original Indenture.
(e) Series O Debentures shall be issued in denominations of
$1,000 and integral multiples thereof and may be fully printed or
printed on steel engraved borders or fully or partly engraved.
(f) Series O Debentures may not be redeemed prior to maturity.
SECTION 2. Authentication and Delivery of Series O Debentures. On or
after the date of execution and delivery of the Fourteenth Supplemental
Indenture and upon compliance with the provisions of Article IV of the Original
Indenture, Series O Debentures (up to but not exceeding the aggregate principal
amount provided in Section 1 of the Fourteenth Supplemental Indenture) shall be
executed by the Corporation and delivered to the Trustee, and the Trustee shall,
upon request, authenticate and deliver such Series O Debentures upon the written
order of the Corporation signed by its President or one of its Vice Presidents
and its Treasurer or Controller, an Assistant Treasurer or an Assistant
Secretary.
SECTION 3. Maintenance of Office or Agency; Authenticating Agent for
Series O Debentures. The provisions of Section 7.02 of the Original Indenture
shall apply in all respects to the Series O Debentures to the same
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extent as if the words "Series O Debentures" were substituted for the words
"Series A Debentures" in each place in which the latter quotation was employed
in the aforesaid Section.
SECTION 4. Original Indenture Ratified. The Original Indenture as
amended by the Third Supplemental Indenture dated February 20, 1986 and by the
Eighth Supplemental Indenture dated May 15, 1990, and as supplemented by this
Fourteenth Supplemental Indenture is in all respects ratified and confirmed and
the Fourteenth Supplemental Indenture and all its provisions shall be deemed a
part thereof in the manner and to the extent herein provided, and the Original
Indenture, as modified in the manner and to the extent herein provided, shall be
deemed a part hereof as though fully set forth herein.
SECTION 5. Trustee Not Responsible. The Trustee assumes no
responsibility for or in respect of the validity or sufficiency of the
Fourteenth Supplemental Indenture or the due execution hereof by the Corporation
or for or in respect of the recitals and statements contained herein, all of
which are made solely by the Corporation. The Trustee accepts the trusts created
by the Fourteenth Supplemental Indenture upon the terms and conditions hereof
and of the Original Indenture.
SECTION 6. Defined Terms. All terms used in the Fourteenth Supplemental
Indenture which are defined in the Original Indenture shall have the meanings
assigned to them in the Original Indenture.
SECTION 7. Counterparts. The Fourteenth Supplemental Indenture may be
executed in any number of counterparts, each of which when so executed and
delivered shall be an original; and all such counterparts shall together
constitute but one and the same instrument.
SECTION 8. Applicable Law. The Fourteenth Supplemental Indenture shall
be construed in accordance with and governed by the laws of the State of
Delaware.
IN WITNESS WHEREOF, Xxxxxxx Truck Leasing Corp. has caused the
Fourteenth Supplemental Indenture to be executed on its behalf by its President
or one of its Vice Presidents and its corporate seal to be hereto affixed and
said seal and this Fourteenth Supplemental Indenture to be attested by its
Secretary or Assistant Secretary, and Bank of America Illinois, in evidence of
its acceptance of the trusts hereby created, has caused this Fourteenth
Supplemental Indenture to be executed on its behalf and its corporate seal to be
affixed by one of its Vice Presidents and said seal and this Indenture to be
attested by its Secretary or one of its Trust Officers, as of May 15, 1995.
Xxxxxxx Truck Leasing Corp.
(CORPORATE SEAL) BY:/s/ Xxxxxxx X. Xxxxxx
------------------------------------
Vice President-Finance and Treasurer
Attest:
---------------------------------
Secretary
BANK OF AMERICA ILLINOIS
as Trustee
(CORPORATE SEAL) BY:/s/ Xxxxx Xxxxx
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Assistant Vice President
Attest:
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