Second SUPPLEMENTAL INDENTURE
Second SUPPLEMENTAL INDENTURE
THIS SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”) dated as of August 19, 2024, among GETAROUND, INC., a Delaware corporation (the “Company”), GETAROUND OPERATIONS LLC, a Delaware limited liability company, CONVEYANCE AUTO, LLC, a Delaware limited liability company, and HYRECAR LLC, a Delaware limited liability company (collectively, the “Guarantors”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as trustee (in such capacity, the “Trustee”) and collateral agent (in such capacity, the “Collateral Agent”), under the Indenture referred to below.
W I T N E S S E T H
WHEREAS, the Company, the Guarantors, the Trustee and the Collateral Agent have heretofore executed and delivered an indenture (the “Base Indenture”) dated as of December 8, 2022, providing for the issuance by the Company of an original aggregate principal amount of $175,000,000 of 8.00% / 9.50% Convertible Senior Secured PIK Toggle Notes due 2027 (the “Notes”);
WHEREAS, the Company, the Guarantors, the Trustee and the Collateral Agent have heretofore executed and delivered a first supplemental indenture dated as of September 8, 2023 (such supplemental indenture taken together with the Base Indenture, the “Indenture”);
WHEREAS, the Company agreed, pursuant to that certain subscription agreement dated September 8, 2023, by and between the Company and Xxxxxxx Capital Management L.P., on behalf of certain funds, investors, entities or accounts that is managed, sponsored or advised by it, which funds, investors, entities or accounts include certain existing Holders, to effectuate an adjustment to the Conversion Rate to 4,000 shares of Common Stock per $1,000 principal amount of the Notes;
WHEREAS, pursuant to Section 8.02 of the Indenture, no amendment or supplement to the Indenture or the Notes, or waiver of any provision of the Indenture or the Notes, may change the amount or type of consideration due on any Note upon conversion thereof without the consent of each affected Holder;
WHEREAS, the Company has obtained the consent of (and the Trustee and the Collateral Agent have been directed by) Holders of the entire aggregate principal amount of the outstanding Notes to amend the Indenture as set forth herein; and
WHEREAS, pursuant to Sections 8.02 and 8.06 of the Base Indenture, the execution and delivery of this Second Supplemental Indenture has been duly authorized by the parties hereto, and all other acts necessary to make this Second Supplemental Indenture a valid and binding supplement to the Indenture effectively amending the Indenture as set forth herein and have been duly taken by the Company and the Guarantors.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guarantors, the Trustee and the Collateral Agent mutually covenant and agree for the equal and ratable benefit of the Holders as follows:
“Conversion Rate” means (1) prior to August 19, 2024, 86.96 shares of Common Stock per $1,000 principal amount of Notes, subject to adjustment pursuant to the definition of “Conversion Price”; and (2) on and after August 19, 2024, 4,000.00 shares of Common Stock per $1,000 principal amount of Notes; provided, however, that (a) the
Conversion Rate is subject to adjustment pursuant to Article 5; and (b) whenever this Indenture refers to the Conversion Rate as of a particular date without setting forth a particular time on such date, such reference will be deemed to be to the Conversion Rate immediately after the Close of Business on such date.
(vi) [Reserved.]
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IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly executed and attested, all as of the date first above written.
as Company
By: /s/ Xxxxxxx Xxxxxxx
Name: Xxxxxxx Xxxxxxx
Title: General Counsel and Secretary
GETAROUND OPERATIONS LLC,
as Guarantor
By: /s/ Xxxxxxx Xxxxxxx
Name: Xxxxxxx Xxxxxxx
Title: General Counsel and Secretary
CONVEYANCE AUTO, LLC,
as Guarantor
By: /s/ Xxxxxxx Xxxxxxx
Name: Xxxxxxx Xxxxxxx
Title: Manager
HYRECAR LLC,
as Guarantor
Sole Member, Getaround, Inc.
By: /s/ Xxxxxxx Xxxxxxx
Name: Xxxxxxx Xxxxxxx
Title: General Counsel and Secretary
[Signature Page to Second Supplemental Indenture]
U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION
as Trustee and Collateral Agent
By: /s/ Xxxxxxx Xxxxxxx/
Name: Xxxxxxx Xxxxxxx
Title: Vice President
[Signature Page to Second Supplemental Indenture]