FIRST SUPPLEMENTAL INDENTURE
Exhibit 99.2
FIRST SUPPLEMENTAL INDENTURE
FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
December 11, 2006, among Lamar Media Corp., a Delaware corporation (the “Issuer”), the Guarantors
and The Bank of New York Trust Company, N.A., as trustee under the Indenture (the “Trustee”).
Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture.
WITNESSETH
WHEREAS, each of the Issuer and the Guarantors has heretofore executed and delivered to
the Trustee an Indenture (the “Indenture”), dated as of August 16, 2005, pursuant to which
$400,000,000 aggregate principal amount of 6 5/8% Senior Subordinated Notes due 2015 (the “Notes”)
were issued;
WHEREAS, Section 8.02 of the Indenture permits the execution of supplemental indentures to
amend or supplement any provision in the Indenture of the Notes with the written consent of Holders
of not less than a majority in aggregate principal amount of the outstanding Notes; and
WHEREAS, all of the conditions set forth in Section 12.04 of the Indenture with respect to the
execution, delivery and validity of this Supplemental Indenture have been performed and fulfilled
and the execution and delivery hereof have been in all respects duly authorized.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Issuer, the Guarantors and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes
as follows:
Section 1.01. Amendment of Certain Sections of Indenture.
Subject to the other provisions hereof, the Indenture is hereby amended and supplemented in
the following respects:
(a) Section 4.17 of the Indenture is hereby amended and restated in its entirety as follows:
“Section 4.17. Guarantees of Certain Indebtedness.
The Company will not permit any of the Restricted Subsidiaries (other than the
Guarantors) to (a) incur, guarantee or secure through the granting of Liens the payment of
any Indebtedness of the Company or any other Restricted Subsidiary), (b) pledge any
intercompany notes representing obligations of any of the Restricted Subsidiaries to secure
the payment of any Indebtedness of the Company or (c) subject to the succeeding paragraph of
this Section 4.17, incur or guarantee any Indebtedness under Section 4.10 or under clause
(i) of the definition of Permitted Indebtedness, in each case unless such Restricted
Subsidiary, the Company and the Trustee execute and deliver a supplemental indenture
evidencing such Restricted Subsidiary’s Guarantee of the Notes pursuant to Article 10 of
this Indenture. Thereafter, such Restricted Subsidiary shall be a Guarantor for all
purposes of this Indenture.
Notwithstanding anything in clause (c) of the first sentence of this Section 4.17 to
the contrary, any Restricted Subsidiary which is organized in a jurisdiction other than the
United States of America, any state thereof or the District of Columbia may incur or guarantee
Indebtedness under Section 4.10 or under clause (i) of the definition of Permitted
Indebtedness without executing and delivering a supplemental indenture evidencing such
Restricted Subsidiary’s guarantee of the Notes pursuant to Article 10 of this Indenture,
provided that all such Indebtedness so incurred or guaranteed by such Restricted
Subsidiaries which have not executed and delivered such supplemental indentures shall not
exceed $50 million in principal amount outstanding at any time. Nothing in the preceding
sentence shall restrict in any manner the ability of any Restricted Subsidiary referred to
in the preceding sentence from incurring or guaranteeing Indebtedness otherwise permitted
under any other provision of this Indenture.”
Section 2.01. Ratification of Indenture; Supplemental Indenture as Part of Indenture.
Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed
and all the terms, conditions and provisions thereof shall remain in full force and effect. Upon
the execution and delivery of this Supplemental Indenture by the Issuer, the Guarantors and the
Trustee, this Supplemental Indenture shall form a part of the Indenture for all purposes, and every
Holder heretofore or hereafter authenticated and delivered shall be bound hereby. Any and all
references to the Indenture, whether within the Indenture or in any notice, certificate or other
instrument or document, shall be deemed to include a reference to this Supplemental Indenture
(whether or not made), unless the context shall otherwise require.
Section 3.01. Governing Law.
THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF NEW YORK,
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO
THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF
OR RELATING TO THIS SUPPLEMENTAL INDENTURE.
Section 4.01. Trustee Acceptance.
The Trustee accepts the Indenture, as supplemented hereby, and agrees to perform the same upon
the terms and conditions set forth therein, as supplemented hereby. The recitals contained herein
shall be taken as the statements of the Issuer and the Guarantors, and the Trustee assumes no
responsibility for their correctness. The Trustee makes no representation as to the validity or
sufficiency of this Supplemental Indenture.
Section 5.01. Multiple Counterparts.
The parties may sign multiple counterparts of this Supplemental Indenture. Each signed
counterpart shall be deemed an original, but all of them together represent one and the same
agreement.
Section 6.01. Headings.
The headings of Sections of this Supplemental Indenture have been inserted for convenience of
reference only, are not to be considered a part hereof, and shall in no way modify or restrict any
of the terms or provisions hereof.
Section 7.01. Entire Agreement.
This Supplemental Indenture, together with the Indenture as amended hereby, contains the
entire agreement of the parties, and supersedes all other representations, warranties, agreements
and understandings between the parties, oral or otherwise, with respect to the matters contained
herein and therein.
Section 8.01. Rights as Set Forth Herein.
Each party intends that this Supplemental Indenture shall not benefit or create any right or
cause of action in any Person other than the parties hereto and the Holders.
Section 9.01. Trust Indenture Act Controls.
If any provision of this Supplemental Indenture limits, qualifies or conflicts with another
provision which is required to be included in this Supplemental Indenture by the TIA, the required
provision shall control.
Section 10.01. Separability.
Each provision of this Supplemental Indenture shall be considered separable and, if for any
reason any provision which is not essential to the effectuation of the basic purpose of this
Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
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IN WITNESS WHEREOF, the parties have caused this Supplemental Indenture to be duly executed,
and the Company’s corporate seal to be hereunto affixed and attested, all as of the date and year
first written above.
Dated: December 11, 2006
XXXXX MEDIA CORP. |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President, Finance and Chief Financial Officer |
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AMERICAN SIGNS, INC. COLORADO LOGOS, INC. FLORIDA LOGOS, INC. KANSAS LOGOS, INC. XXXXX ADVERTISING OF COLORADO SPRINGS, INC. XXXXX ADVERTISING OF KENTUCKY, INC. XXXXX ADVERTISING OF MICHIGAN, INC. XXXXX ADVERTISING OF OKLAHOMA, INC. XXXXX ADVERTISING OF SOUTH DAKOTA, INC. XXXXX ADVERTISING OF YOUNGSTOWN, INC. XXXXX ADVERTISING SOUTHWEST, INC. LAMAR BENCHES, INC. LAMAR DOA TENNESSEE HOLDINGS, INC. LAMAR DOA TENNESSEE, INC. LAMAR ELECTRICAL, INC. LAMAR FLORIDA, INC. LAMAR I-40 WEST, INC. XXXXX XXXX CORPORATION LAMAR OCI NORTH CORPORATION LAMAR OCI SOUTH CORPORATION LAMAR OHIO OUTDOOR HOLDING CORP. LAMAR OKLAHOMA HOLDING COMPANY, INC. LAMAR PENSACOLA TRANSIT, INC. LAMAR TEXAS GENERAL PARTNER, INC. MICHIGAN LOGOS, INC. MINNESOTA LOGOS, INC. NEBRASKA LOGOS, INC. NEVADA LOGOS, INC. NEW MEXICO LOGOS, INC. O. B. WALLS, INC. OHIO LOGOS, INC. OUTDOOR MARKETING SYSTEMS, INC. PREMERE OUTDOOR, INC. SOUTH CAROLINA LOGOS, INC. TENNESSEE LOGOS, INC. TLC PROPERTIES II, INC. TLC PROPERTIES, INC. UTAH LOGOS, INC. |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |
DELAWARE LOGOS, L.L.C. GEORGIA LOGOS, L.L.C. KENTUCKY LOGOS, LLC MAINE LOGOS, L.L.C. MISSISSIPPI LOGOS, L.L.C. MISSOURI LOGOS, LLC NEW JERSEY LOGOS, L.L.C. OKLAHOMA LOGOS, L.L.C. VIRGINIA LOGOS, LLC WASHINGTON LOGOS, L.L.C. |
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By: | Interstate Logos, L.L.C., its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
INTERSTATE LOGOS, L.L.C. THE XXXXX COMPANY, L.L.C. |
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By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |
XXXXX ADVERTISING OF LOUISIANA, L.L.C. XXXXX ADVERTISING OF PENN, LLC LAMAR TENNESSEE, L.L.C. LC BILLBOARD L.L.C. |
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By: | The Xxxxx Company, L.L.C., its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR TEXAS LIMITED PARTNERSHIP |
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By: | Lamar Texas General Partner, Inc., its General Partner | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
TLC FARMS, L.L.C. TLC Properties, L.L.C. |
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By: | TLC Properties, Inc., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |
OUTDOOR PROMOTIONS WEST, LLC TRIUMPH OUTDOOR RHODE ISLAND, LLC |
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By: | Triumph Outdoor Holdings, LLC, its Managing Member | |||
By: | Lamar Central Outdoor, LLC, its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR ADVANTAGE GP COMPANY, LLC LAMAR ADVANTAGE LP COMPANY, LLC TRIUMPH OUTDOOR HOLDINGS, LLC |
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By: | Lamar Central Outdoor, LLC, its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR CENTRAL OUTDOOR, LLC |
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By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |
LAMAR AIR, L.L.C. |
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By: | The Xxxxx Company, L.L.C., its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR T.T.R., L.L.C. |
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By: | Xxxxx Advertising of Youngstown, Inc., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
OUTDOOR MARKETING SYSTEMS, L.L.C. |
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By: | Outdoor Marketing Systems, Inc., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
XXXX BILLBOARD LLC |
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By: | Xxxxx Xxxx Corporation, its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |
TEXAS LOGOS, L.P. |
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By: | Oklahoma Logos, L.L.C., its General Partner | |||
By: | Interstate Logos, L.L.C., its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR ADVANTAGE OUTDOOR COMPANY, L.P. |
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By: | Lamar Advantage GP Company, LLC, its General Partner | |||
By: | Lamar Central Outdoor, LLC, its Managing Member | |||
By: | Xxxxx Media Corp., its Managing Member | |||
By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer | |||
LAMAR ADVANTAGE HOLDING COMPANY |
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By: | /s/ Xxxxx X. Xxxxx | |||
Name: | Xxxxx X. Xxxxx | |||
Title: | Vice President-Finance and Chief Financial Officer |