TRIPARTITE AGREEMENT UNSECURED DEBT
Exhibit 4.2
UNSECURED
DEBT
Tribune
Company, Issuer
Citibank,
N.A., Previous Trustee
INSTRUMENT
OF RESIGNATION, APPOINTMENT AND ACCEPTANCE (the “Agreement”) entered
into as of the 1st day of August, 2008, among, Tribune Company, a corporation
duly organized and existing under the laws of the State of Delaware (the “Issuer”), Citibank,
N.A., a national banking association duly organized and existing under the laws
of the United States of America (“Citibank”), and
Deutsche Bank Trust Company Americas, a New York banking corporation (“DBTCA”).
W I T N E S S E T
H
WHEREAS,
there are currently $450,000,000 aggregate principal
amount of the Issuer’s 4.875% Notes due August 15, 2010, CUSIP No. 000000XX0, $330,000,000 aggregate
principal amount of the Issuer’s 5.25% Notes due August 15, 2015, CUSIP No.
000000XX0, $167,915,000 aggregate principal amount of the Issuer’s 5.50% Medium
Term Notes, Series E due October 6, 2008, CUSIP No. 00000XXX0 and $69,550,000
aggregate principal amount of the Issuer’s 5.67% Medium Term Notes, Series E due
December 8, 2008, CUSIP No. 00000XXX0, (collectively, the “Securities”),
outstanding under an Indenture, dated as of January 1, 1997, as supplemented by
the First Supplemental Indenture, dated as of August 5, 1998 (collectively, the
“Indenture”),
between the Issuer and Citibank (as successor to Bank of Montreal Trust
Company); and
WHEREAS,
Citibank has been acting as trustee, registrar and paying agent (collectively,
"Trustee")
under the Indenture; and
WHEREAS,
Section 6.10 of the Indenture provides that Citibank may resign at any time and
be discharged of the trust created by the Indenture by giving written notice
thereof to the Issuer and upon the acceptance of appointment by a successor
trustee; and
WHEREAS,
Citibank, pursuant to the provisions of Section 6.10 of the Indenture, has given
such written notice to the Issuer on the 25th day of May, 2007, a copy of which
is attached hereto as Exhibit A, which
resignation shall create a vacancy in the office of the Trustee;
and
WHEREAS,
Section 6.10 of the Indenture further provides that the Issuer shall promptly
appoint a successor Trustee to fill a vacancy in the office of Trustee under the
Indenture; and
WHEREAS,
the Issuer wishes to appoint DBTCA as successor Trustee under the Indenture;
and
WHEREAS,
DBTCA is willing to accept such appointment as successor Trustee on the terms
and conditions set forth herein and under the Indenture; and
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WHEREAS,
DBTCA is eligible to act as successor Trustee under the Indenture;
NOW,
THEREFORE, pursuant to the provisions of the Indenture and in consideration of
the covenants herein contained, it is agreed among the Issuer, Citibank and
DBTCA as follows:
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1.
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The
Issuer hereby accepts the resignation of Citibank as Trustee and, pursuant
to the authority vested in it by Section 6.10 of the Indenture and by
resolution of its Board of Directors dated July 22, 2008, a copy of which
is attached as Exhibit B,
hereby appoints DBTCA as successor Trustee (trustee, registrar and paying
agent) under the Indenture, with all the estate, properties, rights,
powers, trusts, duties and obligations heretofore vested in Citibank as
Trustee under the Indenture. The Issuer designates the
Corporate Trust Office of DBTCA presently located at 00 Xxxx Xxxxxx,
00xx Xxxxx,
Mailstop: XXX00-0000, Xxx Xxxx, Xxx Xxxx 00000, Attention:
Trust and Securities Services, as the office or agency of the Issuer in
New York, New York where the Securities may be presented for payment,
registration of transfer and exchange. Such office shall also
constitute the “Corporate Trust Office” as such term is used in the
Indenture. The Issuer hereby designates its offices, Tribune Company, 000
Xxxxx Xxxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxxx 00000
(Attention: Chief Financial Officer) as the office or agency in
the City of Chicago, Illinois for purposes of Section 10.02 of the
Indenture (the “Issuer Chicago
Office”).
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2.
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The
Issuer represents and warrants
that:
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(a)
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it
is validly organized and existing under the laws of the jurisdiction of
its incorporation;
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(b)
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the
Securities were validly and lawfully
issued;
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(c)
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to
its knowledge, it has performed or fulfilled each covenant, agreement and
condition on its part to be performed or fulfilled under the
Indenture;
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(d)
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it
has no knowledge of the existence of any default, or Event of Default, or
any event which upon notice or passage of time or both would become an
Event of Default, under the
Indenture;
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(e)
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it
has not appointed any paying agents under the Indenture other than
Citibank;
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(f)
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it
will continue to perform the obligations undertaken by it under the
Indenture; and
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(g)
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promptly
after the execution and delivery of this Instrument, it will mail or cause
to be mailed to each Holder a Notice of Resignation of Trustee and a
Notice of Appointment of Successor Trustee, forms of which are attached
hereto as Exhibit C and
Exhibit
D, respectively.
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3.
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Citibank
represents and warrants to DBTCA
that:
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(a)
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it
has made, or promptly will make, available to DBTCA originals or copies of
all documents relating to the trust created by the Indenture and all
information in the
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possession
of its corporate trust department relating to the administration and
status thereof and will furnish to DBTCA any of such documents or
information DBTCA may select;
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(b)
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to
the best of the knowledge of the Responsible Officers of Citibank, no
default, or Event of Default, or any event which upon notice or lapse of
time or both would become an Event of Default under the Indenture,
exists;
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(c)
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it
has lawfully and fully discharged its duties as Trustee under the
Indenture;
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(d)
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no
covenant or condition contained in the Indenture has been waived by
Citibank or, to the best knowledge of Responsible Officers of Citibank, by
the Holders of the percentage in aggregate principal amount of the
Securities required by the Indenture to effect any such
waiver;
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(e)
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it
has not delegated to any party any of its duties as Trustee under the
Indenture and has appointed no Authenticating Agent with respect to any
Securities; and
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(f)
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it
holds no Securities for cancellation and no property or money as trustee
under the Indenture.
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Citibank
agrees to investigate from time to time as DBTCA may reasonably request, at the
expense of the Issuer, the completeness or accuracy of any information in the
Security Register which relates to any transaction occurring prior to the
appointment of DBTCA as registrar for the Securities.
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4.
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DBTCA
represents that it is eligible to act as Trustee under the provisions of
the Indenture and the Trust Indenture Act of 1939, as
amended.
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5.
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DBTCA
hereby accepts its appointment as successor Trustee (trustee, registrar
and paying agent) under the Indenture and accepts the trust created
thereby, and assumes all estates, properties, rights, powers, trusts,
duties and obligations of the Trustee under the
Indenture. DBTCA will perform said trust and will exercise said
rights, powers, trusts and duties upon the terms and conditions set forth
in the Indenture, provided, however, that it is understood and agreed by
the parties hereto that DBTCA does not assume responsibility for or any
liability in connection with any negligence or other misconduct on the
part of Citibank or its agents in connection with Citibank’s performance
of the respective trusts, duties and obligations under the Indenture, and
it is further understood and agreed by the parties that the provisions of
Section 6.07 of the Indenture shall survive, for the benefit of Citibank,
Citibank’s resignation hereunder.
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6.
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DBTCA
hereby accepts the designation of its Corporate Trust Office and the
Issuer Chicago Office as the office or agency of the Issuer in New York,
New York and Chicago, Illinois, respectively, where the Securities may be
presented for payment, registration or transfer. In addition, DBTCA hereby
requests that all notices to DBTCA hereunder or under the Indenture also
be delivered to DBTCA at Deutsche Bank National Trust Company Trust &
Securities Services 25 XxXxxxxx Avenue, 0xx Xxxxx, Xxxx Xxxx XXX00-0000,
Xxxxxx, XX 00000; Telecopy: (000)
000-0000.
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7.
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Pursuant
to the written request of DBTCA and the Issuer hereby made, Citibank, upon
payment of its outstanding charges, receipt of which is hereby
acknowledged, confirms, assigns, transfers and sets over to DBTCA, as
successor Trustee under the Indenture, upon the trust expressed in the
Indenture, any and all property and money and all the estate, properties,
rights, powers, trusts, duties and obligations which Citibank now holds
under and by virtue of the
Indenture.
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8.
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The
Issuer, for the purpose of more fully and certainly vesting in and
confirming to DBTCA, as successor Trustee under the Indenture, said
rights, powers, trusts and duties, at the request of DBTCA, hereby joins
in the execution hereof.
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9.
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The
Issuer, and Citibank hereby agree, upon the request of DBTCA, to execute,
acknowledge and deliver such further instruments of conveyance and
assurance and to do such other things as may be required for more fully
and certainly vesting and confirming in DBTCA all of the properties,
rights, powers, trusts and duties of Citibank as Trustee under the
Indenture.
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10.
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Citibank’s
resignation as Trustee and DBTCA’s appointment and acceptance as successor
Trustee, shall be effective as of the opening of business on August 1,
2008.
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11.
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Terms
not otherwise defined in this Agreement shall have the definitions given
thereto in the Indenture.
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12.
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The
effect and meaning of this Agreement and the rights of all parties
hereunder shall be governed by, and construed in accordance with, the laws
of the State of New York.
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13.
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This
Agreement may be simultaneously executed in any number of
counterparts. Each such counterpart so executed shall be deemed
to be an original, but all together shall constitute but one and the same
instrument.
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14.
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The
Issuer acknowledges that in accordance with Section 326 of the USA Patriot
Act the successor Trustee, like all financial institutions, is required to
obtain, verify, and record information that identifies each person or
legal entity that establishes a relationship or opens an account with
Deutsche Bank Trust Company Americas. The Issuer agrees that it will
provide the successor Trustee with such information as it may request in
order for the successor Trustee to satisfy the requirements of the USA
Patriot Act.
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IN
WITNESS WHEREOF, Tribune Company has caused this instrument to be executed by
one of its duly authorized officers; Citibank, N.A. has caused this instrument
to be executed by one of its duly authorized officers; and Deutsche Bank Trust
Company Americas has caused this instrument to be executed by its duly
authorized officers, all as of the date first written above.
| TRIBUNE COMPANY | |||
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By:
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/s/ Xxxx Xxxxxx | |
| Name: Xxxx Xxxxxx | |||
| Title: Treasurer | |||
| CITIBANK, N.A. | |||
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By:
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/s/ Xxxxx Xxxxxxxxxx | |
| Name: Xxxxx Xxxxxxxxxx | |||
| Title: Vice President | |||
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DEUTSCHE
BANK TRUST COMPANY
AMERICAS
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By:
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/s/ Xxxxx Xxxxxxxxxxxxx | |
| Name: Xxxxx Xxxxxxxxxxxxx | |||
| Title: Assistant Vice President | |||
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By:
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/s/ Xxxxxxx X. Xxxxxxxxxx | |
| Name: Xxxxxxx X. Xxxxxxxxxx | |||
| Title: Director | |||
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