Exhibit 4
X. X. XXXXX COMPANY,
X. X. XXXXX FINANCE COMPANY, AS CO-OBLIGOR,
AND
BANK ONE, NATIONAL ASSOCIATION,
AS TRUSTEE
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SECOND SUPPLEMENTAL INDENTURE,
DATED AS OF NOVEMBER 15, 2002,
TO THE INDENTURE,
DATED AS OF NOVEMBER 6, 2000,
AS SUPPLEMENTED BY THE SUPPLEMENTAL INDENTURE,
DATED AS OF MAY 3, 2001
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SECOND SUPPLEMENTAL INDENTURE, dated as of November 15, 2002
(the "Second Supplemental Indenture"), among X. X. XXXXX COMPANY, a Pennsylvania
corporation (the "Company"), X. X. XXXXX FINANCE COMPANY, a Delaware corporation
(the "Co-Obligor"), and BANK ONE, NATIONAL ASSOCIATION, a national banking
association existing under the laws of the United States of America (the
"Trustee"), to the Original Indenture, dated as of November 6, 2000, between the
Company and the Trustee, as supplemented by the Supplemental Indenture, dated as
of May 3, 2001, between the Company, the Co-Obligor and the Trustee.
W I T N E S S E T H:
WHEREAS, the Company and the Trustee executed and delivered an
Original Indenture, dated as of November 6, 2000 (the "Original Indenture");
WHEREAS, the Company established and issued a series of Dealer
Remarketable Securities ("Drs.") due November 15, 2020 in an aggregate principal
amount of $1,000,000,000 (the "Securities") under the Original Indenture;
WHEREAS, the Company, the Co-Obligor and the Trustee executed
and delivered a Supplemental Indenture, dated as of May 3, 2001, providing for
the addition of the Co-Obligor as a party to the Original Indenture and
effecting certain other amendments and modifications to the Original Indenture
(the "Supplemental Indenture", and together with the Original Indenture, the
"Indenture");
WHEREAS, the parties hereto desire to amend the Indenture as
set forth herein in order to provide for, among other things, an alternate
method of resetting the interest rate on the Securities in connection with each
remarketing of the Securities, to allow the Company and the Co-Obligor to redeem
the Securities on a remarketing date in part as well as in whole and to provide
that any securities repurchased from holders thereof from time to time by the
Company or the Co-obligor will be delivered to the Trustee for cancellation, and
the outstanding principal amount of the Drs. reduced accordingly;
WHEREAS, X.X. Xxxxxx Securities Inc. and Xxxxxx Brothers Inc.,
who, as of the date of the written consent, dated as of November 15, 2002 (the
"Consent"), collectively hold 100% in aggregate principal amount of the
Outstanding Securities, has each delivered to the parties hereto a signed copy
of the Consent, in which they consent to the substance of the amendments to the
Indenture contemplated by this Second Supplemental Indenture and to the entry
into this Second Supplemental Indenture by the parties hereto;
WHEREAS, the entry into this Second Supplemental Indenture by
the parties hereto is in all respects authorized by the provisions of the
Indenture;
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WHEREAS, all things necessary to make this Supplemental
Indenture a valid agreement of the parties hereto, in accordance with the terms
of the Indenture, have been done;
NOW THEREFORE, in consideration of the above premises, each
party hereto agrees as follows:
ARTICLE I
DEFINITIONS
Section 1.01 Defined Terms; References. Unless otherwise
specifically defined herein, each term used herein which is defined in the
Indenture has the meaning assigned to such term in the Indenture. Each reference
to "hereof", "hereunder", "herein" and "hereby" and each other similar reference
and each reference to "this Indenture" and each other similar reference
contained in the Indenture shall, after this Second Supplemental Indenture
becomes effective, refer to the Indenture as supplemented hereby.
ARTICLE II
AMENDMENTS
Section 2.01 Amendment to Section 202. The Indenture is hereby
amended by removing the language under "SECTION 202. Form of Face of Security"
in its entirety, and by inserting the following language in its place:
"[Insert any legend required by Section 204.]
X. X. Xxxxx Company
6.82% Dealer Remarketable SecuritySM ("Xxx.xx")
due November 15, 2020
No. ___ CUSIP:
X. X. Xxxxx Company, a Pennsylvania corporation (the
"Company"), which term includes any successor corporation under the Indenture
hereinafter referred to, for value received, hereby promises to pay to Cede &
Co. or registered assigns, the principal sum of dollars ($ ) on November 15,
2020, at the office or agency of the Company maintained for this purpose in the
City of Chicago, Illinois, which shall initially be the corporate trust office
of Bank One, National Association, the Trustee under the Indenture hereinafter
referred to, 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, and to pay to the registered holder hereof, as hereinafter provided,
interest thereon, in like coin or currency, on November 15 of each
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year (until and including November 15, 2020, which is the "Stated Maturity
Date"), or, if such date is not a Business Day (as defined below), on the next
Business Day, commencing November 15, 2001, at the rate per annum specified
below. Interest shall be paid to the persons in whose name this Security is
registered on the November 1 (whether or not a Business Day) immediately
preceding such November 15 (the "Record Date"). "Business Day" means any day
other than a Saturday, a Sunday or a day on which banking institutions in The
City of New York are authorized or obligated by law, executive order or
governmental decree to be closed.
This Security will bear interest at an annual rate of 6.82%
from November 6, 2000 to but excluding November 15, 2001. "Remarketing Date"
means, in respect of each year from and including 2001 to and including 2019,
November 15 in such year; provided, however, if in such year November 15 falls
on a date that is not a Business Day, then the Remarketing Date shall be the
next Business Day following November 15 in such year. If the Remarketing Dealer
(as defined below) elects to call the Securities for purchase and remarketing
pursuant to the Second Amended and Restated Remarketing Agreement, dated as of
November 15, 2002 (the "Remarketing Agreement"), among the Company, X. X. Xxxxx
Finance Company, a Delaware corporation (the "Co-Obligor"), X.X. Xxxxxx Ventures
Corporation (the "Remarketing Dealer") and X.X. Xxxxxx Securities Inc., as agent
for the Remarketing Dealer ("JPMSI"), as may from time to time be amended and
restated, then (i) this Security shall be subject to mandatory tender to the
Remarketing Dealer (or any other securities dealer that may be participating in
the remarketing) for remarketing on the relevant Remarketing Date, on the terms
and subject to the conditions set forth on the reverse hereof, and (ii) on and
after the relevant Remarketing Date (or the November 15 immediately preceding
such Remarketing Date if such Remarketing Date is not a November 15), this
Security shall bear interest at the rate determined by the Remarketing Dealer in
accordance with the procedures set forth in paragraph 5 on the reverse hereof
until but excluding the immediately following Remarketing Date (or the November
15 immediately preceding such Remarketing Date if such Remarketing Date is not a
November 15) or, as applicable, the Stated Maturity Date. If the Remarketing
Dealer does not elect to repurchase the Securities pursuant to the Remarketing
Agreement on any Remarketing Date, or if, for any reason, this Security is not
repurchased by the Remarketing Dealer (or any other securities dealer that may
be participating in the remarketing) on any Remarketing Date, then this Security
shall be subject to mandatory tender to the Company or the Co-Obligor for
repurchase on the Remarketing Date, on the terms and subject to the conditions
set forth on the reverse hereof.
This Security has initially been issued in the form of a
global security, and the Company has initially designated The Depository Trust
Company ("DTC," which term shall include any successor) as the Depositary for
this Security. For as long as this Security or any portion hereof is issued in
such form, and notwithstanding the foregoing, all payments of interest,
principal and other amounts in respect of this Security or such portion
(including payments upon mandatory repurchase or redemption referred to on the
reverse hereof) shall be made to the Depositary or its nominee in accordance
with its
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applicable procedures, in the coin or currency specified above and as further
provided on the reverse hereof.
Reference is hereby made to the further provisions of this
Security set forth on the reverse hereof and such further provisions shall for
all purposes have the same effect as though fully set forth at this place.
This Security shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been executed
by the Trustee under the Indenture referred to on the reverse hereof.
IN WITNESS WHEREOF, the Company has caused this Security to be
signed by its duly authorized officer and has caused its corporate seal to be
affixed hereunto.
X. X. XXXXX COMPANY
By:______________________
Title:
Attest:
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Assistant Secretary
[Insert Trustee's Certificate of Authentication in substantially the
form set forth in Section 205]
[Insert Co-Obligation as set forth in Section 206]"
Section 2.02 Amendment to Section 203. The Indenture is hereby
amended by removing the language under "SECTION 203. Form of Reverse of
Security" in its entirety, and by inserting the following language in its place:
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"X. X. Xxxxx Company
6.82% Dealer Remarketable SecuritySM ("Xxx.xx")
due November 15, 2020
1. Indenture.
(a) This Security is one of a duly authorized issue of debt securities
of the Company (herein referred to as the "Securities") of the series
hereinafter specified, all issued or to be issued under and pursuant to an
indenture, dated as of November 6, 2000, as amended and supplemented from time
to time in accordance with the provisions thereof (the "Indenture"), among the
Company, the Co-Obligor and Bank One, National Association, as trustee (herein
referred to as the "Trustee"), to which Indenture and all indentures
supplemental thereto reference is hereby made for a description of the rights,
limitations of rights, obligations, duties and immunities thereunder of the
Trustee, the Company, the Co-Obligor and the holders (the words "holders",
"holder", "Securityholders" or "Securityholder" mean the registered holder(s))
of the Securities).
(b) This Security is one of the series designated as the 6.82% Dealer
Remarketable SecuritiesSM due November 15, 2020 of the Company, and such series
is initially issued in an aggregate principal amount of $ . The Company may at
any time issue additional securities under the Indenture in unlimited amounts
having the same terms as the Securities.
(c) All capitalized terms used in this Security that are defined in the
Indenture and not otherwise defined herein shall have the meanings assigned to
them in the Indenture.
2. Mandatory Tender and Repurchase on Remarketing Date. On a Business Day
not later than five Business Days prior to each Remarketing Date (each, a
"Notification Date"), the Remarketing Dealer will notify the Company, the
Co-Obligor and the Trustee as to whether it elects to purchase all of the
outstanding Securities on such Remarketing Date. If, and only if, the
Remarketing Dealer so elects with respect to such Remarketing Date, this
Security shall be subject to mandatory tender by the holder hereof to the
Remarketing Dealer (or any other securities dealer that may be participating in
the remarketing) for purchase and remarketing on such Remarketing Date, upon the
terms and subject to the conditions described herein and in the Remarketing
Agreement. The purchase price of this Security pursuant to such mandatory tender
shall be equal to 100% of its principal amount. Interest accrued to but
excluding such Remarketing Date (or the November 15 immediately preceding such
Remarketing Date, if such remarketing date is not a November 15), will be paid
by the Company or the Co-Obligor to persons in whose names the Securities are
registered on the Record Date. No holder or beneficial owner of any Security
shall have any rights or claims under the Remarketing Agreement or against the
Company, the Co-Obligor or the Remarketing Dealer (or any other securities
dealer that may be participating in the remarketing) as a result of the
Remarketing Dealer (or any other securities dealer that may be participating in
the remarketing) not purchasing such Security.
3. Repurchase by the Company.
(a) Mandatory Repurchase. If (i) the Remarketing Dealer does not elect
to purchase all of the outstanding Securities on any Remarketing Date pursuant
to paragraph
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2 of this reverse of Security, (ii)(A) the Remarketing Dealer shall not have
received in writing by the required time on the relevant Determination Date any
firm, committed bids to purchase all of the Securities as described in
subparagraph (a) of paragraph 5 of this reverse of Security or (B) no Pricing
Agreement shall have been executed, in the event that the Company and the
Co-Obligor have given notice to the Remarketing Dealer as provided in
subparagraph (b) of paragraph 5 of this reverse of Security, or (iii) for any
reason, all of the Securities are not purchased from tendering holders on any
Remarketing Date by the Remarketing Dealer (or any other securities dealer or
dealers that may be participating in the remarketing), then holders will be
required to tender, and the Company and the Co-Obligor will be required to
repurchase, on such Remarketing Date, at a price equal to 100% of their
principal amount plus any accrued interest, all Securities that have not been
purchased by the Remarketing Dealer (or any other securities dealer
participating in such remarketing) on such Remarketing Date. Upon payment and
delivery of any Securities so repurchased, the outstanding principal amount of
the Securities shall be reduced accordingly.
(b) Optional Repurchase. The Company and the Co-Obligor may, from time
to time and in accordance with, and to the extent permitted by, applicable laws,
purchase or otherwise acquire, or enter into any agreement to purchase or
otherwise acquire, any of the Securities from holders thereof. Upon payment and
delivery of any Securities so repurchased, the Company or the Co-Obligor shall
deliver such Securities to the Trustee who shall cancel them pursuant to Section
309 of the Indenture, and the outstanding principal amount of the Securities
shall be reduced accordingly.
4. Redemption. If the Remarketing Dealer has elected to purchase all of
the outstanding Securities on any Remarketing Date pursuant to paragraph 2 of
this reverse of Security, the Company and the Co-Obligor shall have the right to
redeem the Securities, in whole or in part, from the Remarketing Dealer on such
Remarketing Date, at a price equal to the sum of (x) the applicable Dollar Price
(as defined below) and (y) the Call Price (as specified in the Remarketing
Agreement) (the sum of (x) and (y) equaling the "Redemption Price") and by
giving written notice of such election, including the amount of Securities to be
so redeemed, to the Remarketing Dealer no later than the later of:
(i) the Business Day immediately prior to the relevant
Determination Date, or
(ii) if fewer than three Reference Corporate Dealers timely
submit firm, committed bids in writing in accordance with subparagraph
(a) of paragraph 5 of this reverse of Security, immediately after the
deadline set by the Remarketing Dealer for receiving such bids has
passed; provided that this clause (ii) shall not apply if the Company
and the Co-Obligor have given notice to the Remarketing Dealer that
such bids should not be solicited as provided in subparagraph (b) of
paragraph 5 of this reverse of Security.
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In either such case, the Company and the Co-Obligor shall pay such Redemption
Price for the specified amount of Securities in same-day funds by wire transfer
on such Remarketing Date to an account designated by the Remarketing Dealer. For
purposes of calculating the Call Price, the Remarketing Dealer shall be deemed
to have made the request for the Call Price on the date the Company and the
Co-Obligor make their election to redeem the specified amount of Securities.
Unless the Company and the Co-Obligor default in payment of the Redemption
Price, on and after the applicable Remarketing Date, interest will cease to
accrue on the Securities or portions thereof called for redemption. Upon such
payment of the Redemption Price, the outstanding principal amount of the
Securities shall be reduced accordingly.
5. Reset of Interest Rate; Notification Thereof. On any Remarketing Date
that the Securities are remarketed, the stated interest rate that the Securities
will bear from and including the Remarketing Date (or the November 15
immediately preceding such Remarketing Date, if such Remarketing Date is not a
November 15) until but excluding the immediately following Remarketing Date (or
the November 15 immediately preceding such Remarketing Date, if such Remarketing
Date is not a November 15) or, in the case of the final Remarketing Date, to but
excluding the Stated Maturity Date (the "Reset Interest Rate"), will be
established by one of the following two methods:
(a) By 3:30 p.m., New York City time, on each Determination Date
(defined below), the Remarketing Dealer shall solicit the Reference Corporate
Dealers (defined below) for firm, committed bids, in writing, to purchase all
outstanding Securities at the Dollar Price (defined below), and shall select the
lowest such firm, committed bid (regardless of whether each of the Reference
Corporate Dealers actually submits a bid). Each bid from a Reference Corporate
Dealer shall be expressed in terms of the relevant Reset Interest Rate that the
Securities would bear, quoted as a spread over the Base Rate (defined below),
based on the following assumptions:
i. the Securities would be sold to such Reference Corporate
Dealer on the relevant Remarketing Date for settlement on the same day;
ii. the Securities would mature on the following Remarketing
Date or, in the case of the final Remarketing Date, on the Stated
Maturity Date; and
iii. the Securities would bear interest at the rate bid by
such Reference Corporate Dealer, payable annually, from the applicable
Remarketing Date (or the November 15 immediately preceding such
Remarketing Date, if such Remarketing Date is not a November 15) until
but excluding the immediately following Remarketing Date (or the
November 15 immediately preceding such Remarketing Date, if such
Remarketing Date is not a November 15) or, in the case of the final
Remarketing Date, to but excluding the Stated Maturity Date.
The relevant Reset Interest Rate announced by the Remarketing Dealer as
a result of such process will be quoted to the nearest one hundred-thousandth
(0.00001) of one percent per annum and, absent manifest error, will be binding
and conclusive upon
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holders of the Securities, the Company, the Co-Obligor and the Trustee. Subject
only to subparagraph (c) of this paragraph 5, the Remarketing Dealer shall have
the discretion to select the time at which each Reset Interest Rate is
determined on the relevant Determination Date.
The Remarketing Dealer shall have the right in its sole discretion
either to (i) remarket the Securities for its own account or (ii) sell the
Securities to the Reference Corporate Dealer submitting in writing the lowest
firm, committed bid. If two or more Reference Corporate Dealers submit
equivalent bids that constitute the lowest firm, committed bid, the Remarketing
Dealer may in its sole discretion elect to sell the Securities to any such
Reference Corporate Dealer.
"Base Rate" means 5.69% per annum.
"Determination Date" means the third Business Day immediately
preceding the relevant Remarketing Date. For purposes of this definition,
"Business Day" means a day that is a Business Day in both The City of New York
and London.
"Dollar Price" means, with respect to each Remarketing Date,
the discounted present value to such Remarketing Date of the cash flows on a
bond (x) with a principal amount equal to the aggregate principal amount of the
Securities, (y) maturing on the immediately following Remarketing Date or, in
the case of the last Remarketing Date, the Stated Maturity Date and (z) bearing
interest at a rate equal to the Base Rate, using a discount rate equal to the
Swap Rate (defined below), payable annually (assuming the actual number of days
in the calculation period in respect of which payment is being made divided by
360) on the interest payment dates of the Securities from and including the
applicable Remarketing Date (or the November 15 immediately preceding such
Remarketing Date, if such Remarketing Date is not a November 15) until but
excluding the immediately following Remarketing Date (or the November 15
immediately preceding such Remarketing Date, if such Remarketing Date is not a
November 15) or, in the case of the final Remarketing Date, to but excluding the
Stated Maturity Date; provided that in the event that the Dollar Price is to be
calculated in connection with a partial redemption of the Securities by the
Company and the Co-Obligor pursuant to paragraph 4 of this reverse of Security,
clause (x) shall instead be read to say "with a principal amount equal to the
aggregate principal amount of the Securities elected to be redeemed by the
Company and the Co-Obligor"; provided further that in the event that the Dollar
Price is to be calculated in connection with a partial sale of the Securities by
the Remarketing Dealer to any other securities dealer or dealers that may be
participating in the remarketing of the Securities pursuant to subparagraph (b)
of this paragraph 5, then, with respect to any such securities dealer, clause
(x) shall instead be read to say "with a principal amount equal to the aggregate
principal amount of the Securities to be sold to the applicable securities
dealer participating in the remarketing of the Securities pursuant to
subparagraph (b) of this paragraph 5".
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"Reference Corporate Dealers" means JPMSI and four other
leading dealers of publicly-traded debt securities of the Company to be mutually
agreed upon by the Company and the Remarketing Dealer prior to each
Determination Date.
"Reference Swap Dealer" means JPMorgan Chase Bank and a group
of four leading U.S. Dollar interest rate swap dealers to be mutually agreed
upon by the Company and the Remarketing Dealer prior to each Determination Date.
"Swap Rate" means the average bid side rate quoted by the
Reference Swap Dealers by 3:30 p.m., New York City time, on the relevant
Determination Date for the fixed leg of a fixed-for-floating U.S. Dollar
interest rate swap transaction with a notional principal amount equal to the
aggregate principal amount of the Securities and a one-year term beginning on
the applicable Remarketing Date where one fixed rate payment is to be made at
maturity of the swap transaction and the floating leg is equivalent to
three-month LIBOR payable quarterly to maturity of the swap transaction in
accordance with standard market conventions in the U.S. Dollar interest rate
swap market. The Swap Rate shall be quoted assuming that the interest of the
fixed leg is calculated on the basis of the actual number of days in the
calculation period in respect of which payment is being made divided by 360.
(b) If the Company and the Co-Obligor provide notice to the Remarketing
Dealer in the manner specified in the Remarketing Agreement, the Reset Interest
Rate shall be determined by the agreement of the Company, the Co-Obligor, the
Remarketing Dealer and any other securities dealer or dealers that may be
participating in the remarketing, as set forth in an agreement to be dated as of
the Determination Date (each such agreement, a "Pricing Agreement"). The
relevant Reset Interest Rate set forth in the applicable Pricing Agreement will
be quoted to the nearest one hundred-thousandth (0.00001) of one percent per
annum and, absent manifest error, will be binding and conclusive upon holders of
the Securities, the Company, the Co-Obligor and the Trustee. If the Reset
Interest Rate is determined as described in this subparagraph (b), the
Remarketing Dealer shall, as the Remarketing Dealer, the Company and the
Co-Obligor shall agree, either (i) remarket all of the Securities for its own
account, (ii) remarket the Securities with one or more other securities dealers
or (iii) sell all of the Securities to one or more other securities dealers. If
the Remarketing Dealer elects to remarket the Securities with one or more other
securities dealers as described in subclause (ii) of this subparagraph (b), then
(i) the Remarketing Dealer may sell to any such other securities dealer that
portion of the Securities as such other securities dealer has agreed to purchase
or (ii) any such other securities dealer may purchase tendered Securities
directly from holders as described in paragraph 2 of this reverse of Security in
such proportions as such other securities dealer has agreed to purchase or
remarket pursuant to the Pricing Agreement.
(c) If the Remarketing Dealer has elected to remarket the Securities as
provided herein, then it shall notify the Company, the Co-Obligor, the Trustee
and DTC by telephone, confirmed in writing (which may include facsimile or other
electronic
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transmission), by 5:00 p.m., New York City time, on the Determination Date for
such remarketing, of the relevant Reset Interest Rate.
6. Maintenance of Book-Entry System. The tender and settlement procedures
with respect to the Securities set forth in the Remarketing Agreement shall be
subject to modification without the consent of the holders of the Securities, to
the extent required by DTC or, if the book-entry system is no longer available
for the Securities at the time of the remarketing, to the extent required to
facilitate the tendering and remarketing of the Security in certificated form.
In addition, the Remarketing Dealer may modify the settlement procedures without
the consent of the holders of the Securities in order to facilitate the
settlement process.
The Company hereby agrees with the Trustee and the holders of
Securities that (i) at all times, it will use its best efforts to maintain the
Securities in book-entry form with DTC or any successor thereto and to appoint a
successor depositary to the extent necessary to maintain the Securities in
book-entry form and (ii) it waives any discretionary right that it otherwise may
have under the Indenture to cause the Securities to be issued in certificated
form.
7. Effect of Event of Default. If an Event of Default shall occur and be
continuing with respect to the Securities of any series, either the Trustee or
the holders of at least 25% in principal amount of the Securities then
outstanding of that series may declare the principal (or such portion thereof as
may be specified in the terms relating to such series) of the Securities of such
series to be due and payable, with the effect and subject to the conditions
provided in the Indenture.
8. Agreement to Tender. Each holder of this Security (and each holder of
a beneficial interest herein) irrevocably agrees that this Security shall
automatically be tendered on any Remarketing Date (a) to the Remarketing Dealer
(or any other securities dealer that may be participating in the remarketing),
upon the occurrence of the events specified in paragraph 2 of this reverse of
Security or (b) to the Company or the Co-Obligor, upon the occurrence of the
events specified in subparagraph (a) of paragraph 3 of this reverse of Security.
9. Amendments and Waivers. With certain exceptions, the Indenture and the
Securities issued pursuant thereto may be modified or amended with the consent
of the holders of not less than a majority in principal amount of the
outstanding Securities of each series affected by the modification; provided,
however, that no such modification or amendment may be made, without the consent
of the holder of each Security affected, that would (i) reduce the principal
amount of or the interest on any Security, change the Stated Maturity of the
principal of, or any installment of principal of or interest on, any Security,
or the other terms of payment or tender for purchase thereof, or (ii) reduce the
above-stated percentage of Securities, the consent of the holders of which is
required to modify or amend the Indenture, or the percentage of Securities of
any series, the consent
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of the holders of which is required to waive compliance with certain provisions
of the Indenture or to waive certain past defaults.
Modifications and amendments of the Indenture will be permitted to be
made by the Company, the Co-Obligor and the Trustee without the consent of any
holder of Securities for any of the following purposes: (a) to evidence the
succession of another person to the Company as obligor under the Indenture; (b)
to add to the covenants, agreements and obligations of the Company for the
benefit of the holders of all Securities or to surrender any right or power
conferred upon the Company in the Indenture; (c) to add any additional Events of
Default for the benefit of the holders of all or any series of Securities; (d)
to provide for the acceptance of appointment by a successor Trustee or
facilitate the administration of the trusts under the Indenture by more than one
Trustee; (e) to cure any ambiguity, defect or inconsistency in the Indenture;
(f) to secure the Securities; or (g) to make any other change that does not
adversely affect the rights of any holder of the Securities.
10. Book-Entry. The Securities will be represented by one or more
certificates in global form representing Securities sold pursuant to Rule 144A,
in each case without interest coupons, which will be deposited with the Trustee
as custodian for, and registered in the name of, DTC or its nominee.
11. No Liability of Certain Persons. No past, present or future
stockholder, employee, officer or director of the Company or the Co-Obligor, or
any successor thereof, shall have any liability for any obligation, covenant or
agreement of the Company or the Co-Obligor contained under this Security or the
Indenture. Each holder by accepting this Security waives and releases all such
liability. This waiver and release are part of the consideration for the issue
of this Security.
12. Provisions Relating to the Remarketing Dealer. Insofar as the
provisions of this Security purport to provide rights to the Remarketing Dealer
against any holder of this Security, such rights (including rights to purchase
this Security on any Remarketing Date) also shall be rights of the Company and
shall be enforceable by the Company against such holder. Each holder of this
Security shall hold this Security (and by holding the same shall be deemed to
have agreed to do so) subject to the foregoing. Without limiting the foregoing,
the Remarketing Dealer may take any action under this Security that the
provisions of this Security contemplate may be taken by the Remarketing Dealer.
Pursuant to the Remarketing Agreement, the Remarketing Dealer has
agreed with the Company and the Co-Obligor, for the benefit of the applicable
holders of this Security from time to time, that, if it so elects on any
Remarketing Date, it (or any other securities dealer participating in the
remarketing) will purchase this Security from the registered holder hereof on
such Remarketing Date, upon the terms and subject to the conditions set forth
herein. Except as may be expressly provided in such agreement, no holder of this
Security shall have any right, remedy or claim against the Remarketing
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Dealer (or any other securities dealer or dealers participating in the
remarketing) under this Security, the Indenture or the Remarketing Agreement.
No provision of this Security shall be invalid or unenforceable by
reason of any reference herein to the Remarketing Dealer. In addition, no
provision of this Section shall be construed to impair or otherwise affect any
rights that the Remarketing Dealer (or any other securities dealer participating
in a remarketing) may have at any time as a holder of any Securities.
13. Governing Law. The Indenture and the Securities are governed by, and
will be construed in accordance with, the laws of the State of New York, without
regard to the conflicts of laws principles therein to the extent that such
principles would permit or require the application of the laws of any other
jurisdiction."
Section 2.03 Form of Co-obligation. The Indenture is hereby
amended by inserting the following new Section 206:
"SECTION 206. Form of Co-obligation
CO-OBLIGATION OF X. X. XXXXX FINANCE COMPANY
For value received, X. X. XXXXX FINANCE COMPANY, a corporation
duly organized under the laws of the State of Delaware (the "Co-Obligor"), to
and for the benefit of the Holder of the Security upon which this Co-Obligation
is endorsed, being one of the 6.82% Dealer Remarketable Securities due November
15, 2020 issued in aggregate principal amount of dollars ($ ) (the "Securities")
of X. X. Xxxxx Company (the "Company"), hereby fully, unconditionally and
irrevocably assumes and agrees to perform and discharge, jointly and severally
with the Company, the due and punctual payment of the principal (including the
Redemption Price, if applicable) of and interest (and additional amounts, if
any, pursuant to Section 1008 of the Indenture) on this Security, when and as
the same shall become due and payable whether at maturity or upon redemption or
upon declaration of acceleration or otherwise according to the terms of this
Security and of the Indenture. The obligations of the Co-Obligor as a co-obligor
hereunder are primary and not merely those of a surety. The Co-Obligor hereby
waives diligence, presentment, demand of payment, any right to require a
proceeding first against the Company, protest or notice and all demands
whatsoever with respect to this Security or the indebtedness evidenced hereby,
and covenants that the co-obligations listed herein will not be discharged as to
the Indenture or this Security except by payment in full of the principal and
interest thereon, additional amounts, Redemption Price and other sums that may
be payable under the Indenture or this Security. The Co-Obligor agrees to be
bound by, and observe and perform, the terms of Article 8 and Article 10 (other
than Sections 1004, 1005 and 1007) of the Indenture as if all references therein
to the "Company" were to the Co-Obligor.
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IN WITNESS WHEREOF, the Co-Obligor has caused this
Co-Obligation to be signed by its duly authorized officer and has caused its
corporate seal to be affixed hereunto.
X. X. XXXXX FINANCE COMPANY
By:______________________
Title:
Attest:
----------------------
Assistant Secretary"
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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Section 2.04 Form of Schedule Indicating Redemptions. The
Indenture is hereby amended by inserting the following new Section 207:
"SECTION 207. Form of Schedule Indicating Redemptions.
As the Trustee may be directed by a Company Order, the Trustee
shall indicate cancellations (as required in Section 309 of the Indenture)
resulting from redemptions of the Securities by the Company or the Co-Obligor in
a schedule in substantially the following form:
SCHEDULE A
REDEMPTIONS
Principal Amount of Remaining Principal Amount of
This Global Security This Global Security Following
Date Redeemed and Cancelled Redemption and Cancellation*
---- ---------------------- ----------------------------
----------------
*Also see most recent entry in Schedule B in order to determine this amount."
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Section 2.05 Form of Schedule Indicating Repurchases and
Cancellations. The Indenture is hereby amended by inserting the following new
Section 208:
"SECTION 208. Form of Schedule Indicating Repurchases and
Cancellations.
As the Trustee may be directed by a Company Order, the Trustee
shall indicate cancellations (as required in Section 309 of the Indenture)
resulting from purchases of the Securities by the Company or the Co-Obligor in a
schedule in substantially the following form:
SCHEDULE B
PURCHASES AND CANCELLATIONS
Principal Amount of this Remaining Principal Amount
Global Security of this Global Security Following
Date Purchased and Cancelled Purchase and Cancellation*
---- ----------------------- --------------------------
--------------------
*Also see most recent entry in Schedule A in order to determine this amount."
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ARTICLE III
MISCELLANEOUS
Section 3.01 Other Terms of the Indenture. Except as insofar
as herein otherwise provided, all the provisions, terms and conditions of the
Indenture are in all respects ratified and confirmed and shall remain in full
force and effect.
Section 3.02 Effectiveness. This Second Supplemental Indenture
shall be effective as of the date hereof.
Section 3.03 Governing Law. This Second Supplemental Indenture
shall be governed by and construed in accordance with the laws of the State of
New York, without giving effect to the conflicts of laws provisions thereof to
the extent that such rules would require or permit the application of the laws
of any other jurisdiction.
Section 3.04 Counterparts. This Second Supplemental Indenture
may be executed in several counterparts, each of which shall be regarded as an
original and all of which shall constitute one and the same instrument.
Section 3.05 Headings. The Article and Section headings herein
are for convenience only and shall not affect the construction hereof.
Section 3.06 Trustee Not Responsible for Recitals. The
recitals contained herein shall be taken as the statements of the Company and
the Co-Obligor, and neither the Trustee nor any Authenticating Agent assumes any
responsibility for their correctness. The Trustee makes no representations as to
the validity or sufficiency of this Second Supplemental Indenture.
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IN WITNESS WHEREOF, the parties hereto have caused this Second
Supplemental Indenture to be duly executed as of the date first written above.
X. X. XXXXX COMPANY
By: /s/ Xxxxxxx X. Xxxxx, Xx
--------------------------------
Name: Xxxxxxx X. Xxxxx, Xx.
Title: Treasurer
X. X. XXXXX FINANCE COMPANY
By: /s/ Xxxxxxx X. Xxxxx, Xx.
--------------------------------
Name: Xxxxxxx X. Xxxxx, Xx
Title: President
BANK ONE, NATIONAL ASSOCIATION,
as Trustee
By: /s/ Xxxxxxx X. Xxxxxx
--------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: Authorized Officer
-18-
