SECOND SUPPLEMENTAL INDENTURE
SECOND SUPPLEMENTAL INDENTURE, dated as of January 10, 1997,
among SFX Broadcasting, Inc. (the "Company"), a Delaware corporation, SFX
Broadcasting of the Southwest, Inc., a Delaware corporation; SFX Broadcasting
of Texas, Inc., a Delaware corporation; SFX Broadcasting of Texas (KRLD),
Inc., a Delaware corporation; SFX Broadcasting of Texas (KRLD) Licensee, Inc.,
a Delaware corporation; SFX Broadcasting of Texas (TSN), Inc., a Delaware
corporation; SFX Broadcasting of Texas (TSN), Licensee, Inc., a Delaware
corporation; KODA-FM Licensee, Inc., a Delaware corporation; KJQY-FM Licensee,
Inc., a Delaware corporation; SFX Broadcasting of Texas (KTCK), Inc., a
Delaware corporation; SFX Broadcasting of Texas (KTCK), Licensee, Inc., a
Delaware corporation; SFX Broadcasting of the Southeast, Inc., a Delaware
corporation; SFX Broadcasting of South Carolina (WMYI), Inc., a Delaware
corporation; SFX Broadcasting of South Carolina (WMYI) Licensee, Inc., a
Delaware corporation; SFX Broadcasting of Mississippi, Inc., a Delaware
corporation; SFX Broadcasting of Mississippi Licensee, Inc., a Delaware
corporation; SFX Broadcasting of South Carolina (WSSL), Inc., a Delaware
corporation; SFX Broadcasting of South Carolina (WSSL) Licensee, Inc., a
Delaware corporation; SFX Broadcasting of Tennessee, Inc., a Delaware
corporation; SFX Broadcasting of Tennessee Licensee, Inc., a Delaware
corporation; SFX Broadcasting of Xxxxxxx, Inc., a Delaware corporation; SFX
Broadcasting of Xxxxxxx Licensee, Inc., a Delaware corporation; SFX
Broadcasting of North Carolina, Inc., a Delaware corporation; SFX Broadcasting
of North Carolina Licensee, Inc., a Delaware corporation; SFX Broadcasting of
San Diego, Inc., a Delaware corporation; Xxxxxx Broadcasting Company, a
California corporation; SFX Broadcasting of San Diego Licensee, Inc., a
Delaware corporation; SFX Acquisition Corporation, a Delaware corporation; SFX
Merger Company, a Delaware corporation; Liberty Broadcasting, Incorporated, a
Delaware corporation; Liberty Broadcasting Group Incorporated, a Delaware
corporation; Liberty Broadcasting of New York Incorporated, a New York
corporation; Liberty Broadcasting of Albany Incorporated, a New York
corporation; Liberty Broadcasting of Maryland Incorporated, a Maryland
corporation; Liberty Broadcasting of Maryland II Incorporated, a Maryland
corporation; WHJJ, Inc., a Rhode Island corporation; WHFS, Inc., a Maryland
corporation; WHFM, Inc., a New York corporation; WHCN, Inc., a Connecticut
corporation; WHCN-FM, Inc., a Delaware corporation; WSNE, Inc., a Rhode Island
corporation; WSNE-FM, Inc., a Delaware corporation; WMXB, Inc., a Virginia
corporation; WPYX, Inc., a New York corporation; WHJY, Inc., a Rhode Island
corporation; WPOP, Inc., a Connecticut corporation; Musical Heights, Inc., a
Maryland corporation; WGNA, Inc., a New York corporation; WGNA-FM, Inc., a New
York corporation; WGBB, Inc., a New York corporation; Xxxx-Xxxx
Communications, Inc., a Delaware corporation; WTRY, Inc., a New York
corporation; WXTR, Inc., a Maryland corporation; WYSR, Inc., a Connecticut
corporation; WBLI, Inc., a New York corporation; WBLI-FM, Inc., a Delaware
corporation; WBAB, Inc., a New York corporation; WZYQ, Inc., a Delaware
corporation; WQSI, Inc., a Delaware corporation; Liberty Acquisition
Subsidiary Corporation, a Delaware corporation; SFX Broadcasting of Central
North Carolina, Inc., a Delaware corporation; and SFX Broadcasting of
Hartford, Inc., a Delaware corporation (all of the above entities other than
the Company, the "Guarantors"), and The Chase Manhattan Bank (formerly known
as Chemical Bank), as trustee under the indenture referred to below (the
"Trustee").
RECITALS
WHEREAS, the Company and the Guarantors have heretofore executed and
delivered to the Trustee an indenture (the "Indenture"), dated as of May 31,
1996, providing for the issuance of an aggregate principal amount of
$450,000,000 of 10 3/4% Senior Subordinated Notes due 2006 (the "Notes");
WHEREAS, Section 9.01 of the Indenture provides that, in order to cure
defects or inconsistencies in the Indenture, the Indenture may be amended or
supplemented without the consent of any Holder of a Note;
WHEREAS, the Company and the Guarantors wish to amend the Indenture to
cure a defect and an inconsistency in Section 4.09 thereof in order to clarify
that Subsidiaries of the Company may guarantee Senior Debt of the Company
incurred in compliance with the provisions of Section 4.09 of the Indenture;
and
WHEREAS, the Company and the Guarantors hereby covenant and represent
that all things necessary have been done to make this Second Supplemental
Indenture a legal, valid and binding agreement of the Company and the
Guarantors in accordance with the terms hereof and of the Indenture.
NOW THEREFORE, THIS SECOND SUPPLEMENTAL INDENTURE WITNESSETH, that, for
and in consideration of the premises, it is mutually covenanted and agreed as
follows:
ARTICLE ONE
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
SECTION 101. Capitalized Terms.
Capitalized terms used herein and not otherwise defined herein are used
with the respective meanings ascribed to such terms in the Indenture.
SECTION 102. Effectiveness.
This Second Supplemental Indenture shall become effective, and shall
bind the parties hereto, upon its execution by the parties hereto.
SECTION 103. Incorporation of Second Supplemental Indenture into Indenture.
This Second Supplemental Indenture is executed by the Company, the
Guarantors and the Trustee pursuant to the provisions of Section 9.01 of the
Indenture, and the terms and conditions hereof shall be deemed to be part of
the Indenture for all purposes upon the effectiveness of this
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Second Supplemental Indenture. The Indenture, as amended and supplemented by
this Second Supplemental Indenture, is in all respects hereby adopted,
ratified and confirmed.
SECTION 104. Effect of Headings.
The Article and Section headings herein are for convenience only and
shall not affect the construction hereof.
SECTION 105. Governing Law.
The internal law of the State of New York shall govern and be used to
construe this Second Supplemental Indenture.
SECTION 106. Counterparts.
This Second Supplemental Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same
instrument.
SECTION 107. Recitals.
The recitals contained herein shall be taken as the statements of the
Company and the Guarantors, and the Trustee assumes no responsibility for
their correctness. The Trustee makes no representations as to the validity or
sufficiency of this Second Supplemental Indenture.
ARTICLE TWO
AMENDMENTS TO PROVISIONS OF INDENTURE
SECTION 201. Covenants
The first paragraph of Section 4.09 of the Indenture is hereby amended
in its entirety to read as follows:
The Company shall not, and shall not permit any of its
Subsidiaries to, directly or indirectly, create, incur, issue,
assume, guarantee or otherwise become directly or indirectly
liable, contingently or otherwise, with respect to (collectively,
"incur") any Indebtedness (including Acquired Debt) and that the
Company shall not issue any Disqualified Stock and shall not
permit any of its Subsidiaries to issue any shares of Preferred
Stock; provided, however, that (A) (i) the Company may incur
Indebtedness (including Acquired Debt) or issue shares of
Disqualified Stock and (ii) the Subsidiaries may guarantee Senior
Debt and (B) a Guarantor may issue shares of Preferred Stock
(other than shares of Preferred Stock that are convertible into
or exchangeable for any other class of Capital Stock) if, in
either case, the Company's Debt to Cash
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Flow Ratio at the time of the incurrence of such Indebtedness or
the issuance of such Disqualified Stock or the guarantee of such
Senior Debt or the issuance of such Preferred Stock, as the case
may be, after giving pro forma effect to such incurrence or
issuance or guarantee as of such date and to the use of proceeds
therefrom as if the same had occurred at the beginning of the
most recently ended four full fiscal quarter period of the
Company for which internal financial statements are available,
would have been no greater than 7.0 to 1.
IN WITNESS WHEREOF, the parties hereto have executed this Second
Supplemental Indenture as of the date first above written.
The Chase Manhattan Bank, SFX Broadcasting, Inc.
as Trustee
By: /s/ Xxxxx Xxxxxx By: /s/ Xxxxxx X. Xxxxx
---------------------------- --------------------------------------
Name: Name: Xxxxxx X. Xxxxx
Title: Title: Executive Vice President
SFX Broadcasting of the Southwest, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of Texas, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Texas (KRLD), Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Texas (KRLD)
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Texas (TSN), Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of Texas (TSN)
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
KODA-FM Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
KJQY-FM Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Texas (KTCK), Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Texas (KTCK)
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of The Southeast, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of South Carolina (WMYI),
Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of South Carolina (WMYI)
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Mississippi, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of Mississippi Licensee,
Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of South Carolina
(WSSL), Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of South Carolina (WSSL)
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Tennessee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of Tennessee Licensee,
Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Xxxxxxx, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Xxxxxxx Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of North Carolina, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Broadcasting of North Carolina
Licensee, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of San Diego, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Xxxxxx Broadcasting Company
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of San Diego Licensee,
Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX Acquisition Corporation
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Merger Company
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Broadcasting, Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Broadcasting Group Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Broadcasting of New York
Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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Liberty Broadcasting of Albany
Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Broadcasting of Maryland
Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Broadcasting of Maryland II
Incorporated
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WHJJ, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WHFS, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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WHFM, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WHCN, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WHCN-FM, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WSNE, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WSNE-FM, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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WMXB, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WPYX, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WHJY, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WPOP, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Musical Heights, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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WGNA, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WGNA-FM, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WGBB, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Xxxx-Xxxx Communications, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WTRY, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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WXTR, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WYSR, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
W.B.L.I., Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WBLI-FM, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WBAB, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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WZYQ, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
WQSI, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
Liberty Acquisition Subsidiary Corporation
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Central North
Carolina, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
SFX Broadcasting of Hartford, Inc.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
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SFX BROADCASTING, INC.,
Issuer
to
THE CHASE MANHATTAN BANK,
Trustee
----------
SECOND SUPPLEMENTAL INDENTURE
Dated as of January 10, 1997
Supplemental to
Indenture Dated as of May 31, 1996
---------
10-3/4% SENIOR SUBORDINATED NOTES DUE 2006
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TABLE OF CONTENTS
Page
----
RECITALS.......................................................... 2
ARTICLE ONE
DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION.... 2
Section 101. Capitalized Terms............................ 2
SECTION 102. Effectiveness................................ 2
SECTION 103. Incorporation of Second Supplemental
Indenture into Indenture................... 2
SECTION 104. Effect of Headings........................... 3
SECTION 105. Governing Law................................ 3
SECTION 106. Counterparts................................. 3
SECTION 107. Recitals..................................... 3
ARTICLE TWO
AMENDMENTS TO PROVISIONS OF INDENTURE...................... 3
SECTION 201. Covenants.................................... 3
Testimonium
Signatures
(ii)
