Contract
Exhibit
99.8
THIS
FIRST SUPPLEMENTAL
INDENTURE, dated as of December 31, 2003 (this “Supplemental Indenture”), is by
and among Xxxxxx Cable Inc., a corporation organized under the laws of the
Province of Ontario (hereinafter called “Rogers Cable”), Xxxxxx Cable
Communications Inc., a corporation organized under the laws of the Province
of
Ontario and a wholly-owned subsidiary of Rogers Cable (hereinafter called
“RCCI”), and JPMorgan Chase Bank, a New York banking corporation, as trustee
(hereinafter called the “Trustee”).
WITNESSETH
WHEREAS,
Xxxxxx Cable and the Trustee are parties to an indenture dated as of June 19,
2003 (the “Indenture”), pursuant to which Xxxxxx Cable’s outstanding 6.25%
Senior (Secured) Second Priority Notes due June 15, 2013 (the “Notes”) are
issued, which Notes constitute “Securities” as that term is defined in the
Indenture;
WHEREAS,
in connection with a corporate restructuring, Rogers Cable intends to transfer
certain of its assets and liabilities constituting its assets substantially
as
an entirety to RCCI (the “Transfer”);
WHEREAS,
pursuant to Section 801(a) of the Indenture, in connection with the Transfer,
RCCI is required to execute and deliver to the Trustee a supplemental indenture
assuming all of the obligations of the Company under the Securities, the
Indenture and prior to the Release Date, the Collateral Documents;
WHEREAS,
Section 802 of the Indenture provides that upon the transfer of the assets
of
the Company substantially as an entirety, (i) the successor Person shall succeed
to, and be substituted for, and may exercise every right and power of, the
Company under the Indenture with the same effect as if such successor Person
had
been named as the Company in the Indenture and (ii) the Company shall be
discharged from all obligations and covenants under the Indenture and the
Securities;
WHEREAS,
Rogers Cable, RCCI and the Trustee desire that, following the Transfer, (i)
Rogers Cable shall not be discharged from its obligations and covenants under
the Indenture and the Securities, but shall continue as the Company for all
purposes of the Indenture and the Securities; (ii) RCCI shall assume, as a
co-obligor on a joint and several basis with Rogers Cable, all of the Company’s
obligations under the Securities and the Indenture; and (iii) to the extent
provided herein each of Rogers Cable and RCCI shall be the Company for purposes
of the Indenture as if each of them had been named as the Company
therein;
WHEREAS,
Section 901 of the Indenture provides that without the consent of any Holder
of
the Securities, the Company, when authorized by a Board Resolution, and the
Trustee, at any time and from time to time, may enter into one or more
indentures supplemental to the Indenture, to, among other things, evidence
the
assumption by any successor Person of the covenants of the Company in the
Indenture and in the Securities or the Collateral Documents, as the case may
be,
and to make any further change that does not adversely affect the rights of
any
Holder; and
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WHEREAS,
Rogers Cable and RCCI have complied with all conditions precedent provided
for
in the Indenture relating to this Supplemental Indenture.
NOW,
THEREFORE, for and in consideration of the foregoing premises, Rogers Cable,
RCCI and the Trustee hereby agree for the equal and ratable benefit of the
Holders of the Securities as follows:
1. Capitalized
Terms. Capitalized terms used herein without definition shall
have the meanings assigned to them in the Indenture.
2. Assumption
by RCCI. RCCI hereby assumes, as a co-obligor on a joint and
several basis with Rogers Cable, all obligations of the Company under the
Indenture, including without limitation obligations for the due and punctual
payment of the principal of, premium, if any, and interest on all Securities
issued or to be issued pursuant to the Indenture and the performance or
observance of each other obligation and covenant set forth in the Indenture
to
be performed or observed on the part of the Company.
3. Xxxxxx
Cable not Discharged. Notwithstanding Section 8.02 of the
Indenture, following the Transfer, Rogers Cable shall not be discharged from
its
obligations and covenants under the Indenture and the Securities.
4. References
to the “Company” in the Indenture. Following the Transfer, all
references to the “Company” in the Indenture shall be deemed to be references to
each of Rogers Cable and RCCI, as co-obligors on a joint and several basis;
provided, that (i) with respect to any financial measure to be determined on
a
Consolidated basis for the Company and its Restricted Subsidiaries, such measure
shall be determined for Rogers Cable and its Restricted Subsidiaries, treating
RCCI for such purposes as a Restricted Subsidiary; (ii) for purposes of Section
1010 (Limitation on Restricted Payments), Section 1020 (Provision of Financial
Statements) or any other provision of the Indenture where the context requires
that a reference to the “Company” refer to a single entity only, such reference
shall be deemed to be to Xxxxxx Cable only and for these purposes RCCI shall
be
treated as a Restricted Subsidiary and (iii) all references to the board of
directors or any officer of the “Company” shall be deemed to be references to
the board of directors or such officer of Rogers Cable.
5. Notices. Section
1.06(b) of the Indenture is hereby amended and restated in its entirety as
follows:
(b)
to
Xxxxxx
Cable Inc. or Xxxxxx Cable Communications Inc. by the Trustee or any Holder
shall be sufficient for every purpose hereunder (unless otherwise herein
expressly provided) if made, given, furnished or delivered in writing to Xxxxxx
Cable Inc. or Xxxxxx Cable Communications Inc., as the case may be, to 333
Bloor
Street East, 10th Floor, Toronto, Ontario, Canada, M4W 1G9, Attention:
Vice-President, Treasurer, fax: 000-000-0000, with a copy to the
Vice-President, General Counsel and Secretary, fax: 000-000-0000, or, in either
case, at any other address previously furnished in writing to the Trustee by
Xxxxxx Cable Inc. or Xxxxxx Cable Communications Inc.
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6. Trustee’s
Acceptance. The Trustee hereby accepts this Supplemental
Indenture and agrees to perform the same under the terms and conditions set
forth in the Indenture.
7. Effect
of Supplemental Indenture. Upon the execution and delivery of
this Supplemental Indenture by Rogers Cable, RCCI and the Trustee, the Indenture
shall be supplemented and amended in accordance herewith, and this Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder
of a Security heretofore or hereafter authenticated and delivered under the
Indenture shall be bound thereby.
8. Indenture
Remains in Full Force and Effect. Except as supplemented or
amended hereby, all other provisions in the Indenture and the Securities, to
the
extent not inconsistent with the terms and provisions of this Supplemental
Indenture, shall remain in full force and effect.
9. Incorporation
of Indenture. All the provisions of this Supplemental Indenture
shall be deemed to be incorporated in, and made a part of, the Indenture; and
the Indenture, as supplemented and amended by this Supplemental Indenture,
shall
be read, taken and construed as one and the same instrument.
10. Counterparts. This
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.
11. Effect
of Headings. The headings of this Supplemental Indenture are
inserted for convenience of reference and shall not be deemed to be a part
thereof.
12. Conflict
with Trust Indenture Act. If any provision of this Supplemental
Indenture limits, qualifies or conflicts with any provision of the Trust
Indenture Act that is required under the Trust Indenture Act to be part of
and
govern any provision of this Supplemental Indenture, the provision of the Trust
Indenture Act shall control. If any provision of this Supplemental Indenture
modifies or excludes any provision of the Trust Indenture Act that may be so
modified or excluded, the provision of the Trust Indenture Act shall be deemed
to apply to the Indenture as so modified or to be excluded by this Supplemental
Indenture, as the case may be.
13. Successors. All
covenants and agreements in this Supplemental Indenture by RCCI and Rogers
Cable
shall be binding upon and accrue to the benefit of their respective
successors. All covenants and agreements in this Supplemental
Indenture by the Trustee shall be binding upon and accrue to the benefit of
its
successors.
14. Benefits
of Supplemental Indenture. Nothing in this Supplemental
Indenture, the Indenture or the Securities, express or implied, shall give
to
any Person, other than the parties hereto and thereto and their successors
hereunder and thereunder and the Holders, any benefit of any legal or equitable
right, remedy or claim under this Supplemental Indenture, the Indenture or
the
Securities.
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15. GOVERNING
LAW. THE LAWS OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW, SHALL GOVERN THIS SUPPLEMENTAL INDENTURE.
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IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture
to
be duly executed, all as of the date first above written.
XXXXXX
CABLE INC.
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XXXXXX
CABLE COMMUNICATIONS INC.
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XXXXXX XXXXX BANK, as Trustee
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