Supplemental Indenture, dated as of September 21, 2011, among CNL Income Pacific



 Exhibit 4.3.1 
 SUPPLEMENTAL INDENTURE 
 SUPPLEMENTAL
INDENTURE (this “Supplemental Indenture”), dated as of September 21, 2011, among CNL INCOME PACIFIC PARK, LLC, a Delaware limited liability company, and CNL INCOME PACIFIC
PARK TRS CORP., a Delaware corporation (together, the “Guaranteeing Subsidiaries”), subsidiaries of CNL LIFESTYLE PROPERTIES, INC., a Maryland corporation (or its permitted successor) (the “Company”), the
Company, the other Guarantors (as defined in the Indenture referred to herein) and WILMINGTON TRUST, NATIONAL ASSOCIATION, successor by merger to WILMINGTON TRUST FSB, as trustee under the Indenture referred to below (the
“Trustee”). 
 W I T N E S S E T H 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of April 5, 2011 providing for the issuance of 7.250% Senior Notes
due 2019 (the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing
Subsidiaries shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and
conditions set forth herein (the “Note Guarantee”) 
 WHEREAS, Guaranteeing Subsidiaries are Restricted
Subsidiaries and are obtaining certain Indebtedness permitted to be incurred pursuant to Section 4.09 of the Indenture (the “Guranteeing Subsidiaries’ Indebtedness”); 

WHEREAS, the Guaranteeing Subsidiaries’ Indebtedness shall be guaranteed by the Company (the “Company Guarantee”);

 WHEREAS, pursuant to Section 4.09(d)(9) of the Indenture, the Company Guarantee is permitted provided that the
Guaranteeing Subsidiaries are a Guarantor; 
 WHEREAS, prior to the date hereof, the Guaranteeing Subsidiaries were not a
Guarantor; 
 WHEREAS, in order to permit, and as a condition to its execution of, the Company Guarantee, the Guaranteeing
Subsidiaries desire to execute and deliver to the Trustee, this Supplemental Indenture; and 
 WHEREAS, pursuant to
Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture. 
 NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the equal and ratable benefit of
the Holders of the Notes as follows: 
 1. CAPITALIZED
TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 







 2. AGREEMENT TO
GUARANTEE. The Guaranteeing Subsidiaries hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not
limited to Article 10 thereof. 
 4. NO RECOURSE
AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any obligations of the
Company or the Guarantors under the Notes, this Indenture, the Note Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 

5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE
WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 
 6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement. 
 7. EFFECT OF
HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 
 8. THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of
this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiaries and the Company. 
 [REMAINDER OF PAGE INTENTIONALLY BLANK] 







 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated: September 21, 2011 

 

					
	GUARANTEEING SUBSIDIARIES:
	
	CNL INCOME PACIFIC PARK, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME PACIFIC PARK TRS CORP., a
 Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	COMPANY:
	
	 CNL LIFESTYLE PROPERTIES, INC.,
 a Maryland corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	EXISTING GUARANTORS:
	
	 CNL INCOME PARTNERS, LP,
 a Delaware limited partnership

		
	By:	 	CNL INCOME GP CORP.,
		 	a Delaware corporation, General Partner
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME NORTHSTAR, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME NORTHSTAR TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SIERRA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SIERRA TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME LOON MOUNTAIN, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME LOON MOUNTAIN TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SNOQUALMIE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME SNOQUALMIE TRS CORP.,
 a Delaware corporation


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME BRIGHTON, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME BRIGHTON TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME BEAVER CREEK MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL BEAVER CREEK MARINA TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME BURNSIDE MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL BURNSIDE MARINA TRS CORP.,
 a Delaware corporation


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME LAKEFRONT MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL LAKEFRONT MARINA TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SANDUSKY MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL SANDUSKY MARINA TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME PIER 121 MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL PIER 121 MARINA TRS CORP.,
 a Delaware corporation


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME HOLLY CREEK MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME HOLLY CREEK MARINA TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGLE COVE MARINA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	CNL INCOME EAGLE COVE MARINA TRS CORP., a Delaware corporation
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	CNL INCOME BRADY MOUNTAIN MARINA, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	CNL INCOME BRADY MOUNTAIN MARINA TRS CORP., a Delaware corporation
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME ENCHANTED VILLAGE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	CNL INCOME ENCHANTED VILLAGE TRS CORP., a Delaware corporation
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME MAGIC SPRING, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME MAGIC SPRING TRS CORP.,
 a Delaware corporation

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME HAWAIIAN WATERS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME HAWAIIAN WATERS TRS CORP.,
 a Delaware corporation


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME COLONY, LP,
 a Delaware limited partnership

		
	By:	 	CNL INCOME COLONY GP, LLC,
		 	 a Delaware limited liability company,
 General Partner

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME GARLAND, LP,
 a Delaware limited partnership

		
	By:	 	CNL INCOME GARLAND GP, LLC,
		 	 a Delaware limited liability company,
 General Partner

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	CNL INCOME NORTHSTAR COMMERCIAL, LLC, a Delaware limited liability company
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME BEAR CREEK, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME PALMETTO, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SOUTH MOUNTAIN, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME VALENCIA, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME WESTON HILLS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME CANYON SPRINGS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME CINCO RANCH, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME FOSSIL CREEK, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME PLANTATION, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME MANSFIELD, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME MESA DEL SOL, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME LAKERIDGE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME ROYAL MEADOWS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME PAINTED HILLS, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FOX MEADOW, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME WEYMOUTH, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME SIGNATURE OF SOLON, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 GRAPEVINE GOLF CLUB, L.P.,
 a Delaware limited partnership

		
	By:	 	GRAPEVINE GOLF, L.L.C.,
		 	 a Delaware limited liability company,
 General Partner

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL GATLINBURG PARTNERSHIP, LP,
 a Delaware limited partnership


		
	By:	 	CNL GATLINBURG GP CORP.,
		 	a Delaware corporation, General Partner
		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL SOUTHWEST GOLF, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL WEST GOLF, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL NORTH GOLF, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL MIDWEST GOLF, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL MIDEAST GOLF, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME EAGL LEASEHOLD GOLF, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL MEADOWLARK, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME EAGL LAS VEGAS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME TRADITIONAL GOLF I, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME CLEAR CREEK, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME LAKE PARK, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME FEC BAKERSFIELD, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC CHARLOTTE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC KNOXVILLE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC NORTH HOUSTON, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC SOUTH HOUSTON, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC RICHLAND HILLS, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President










					
	 CNL INCOME FEC TAMPA, LLC,
 a Delaware limited liability company


		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC TEMPE, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	 CNL INCOME FEC TUCSON, LLC,
 a Delaware limited liability company

		
	By:	 	 /s/ Kay S. Redlich

		 	Name:	 	Kay S. Redlich
		 	Title:	 	Senior Vice President
	
	TRUSTEE:
	
	 WILIMINGTON TRUST, NATIONAL
 ASSOCIATION, successor by merger to
 WILMINGTON TRUST FSB, as
Trustee



		
	By:	 	 /s/ Joseph O’Donnell

		 	Name:	 	Joseph O’Donnell
		 	Title:	 	Authorized Signatory