First Supplemental Indenture



 Exhibit 4.3 
 FIRST SUPPLEMENTAL INDENTURE 
 Supplemental Indenture (this “Supplemental
Indenture”), dated as of August 6, 2009, among MoneyGram Securities, LLC (the “Guaranteeing Subsidiary”), a subsidiary of MoneyGram Payment Systems Worldwide, Inc. (or its permitted successor), a Delaware corporation
(the “Company”), the other Guarantors (as defined in the Indenture referred to herein), and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee and collateral agent 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
March 25, 2008 providing for the issuance of 13.25% Senior Secured Second Lien Notes due 2018 (the “Notes”); 
 WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary
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”); 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 Subsidiary 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 Subsidiary 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. 
 3. No Recourse Against Others. No past, present or future director, officer,
employee, incorporator, stockholder or agent of the Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Note Guarantees, the Indenture or this Supplemental
Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the 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. Such waiver may not be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 







 4. 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. 

5. 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. 
 6. Effect of Headings. The Section headings herein are for convenience only
and shall not affect the construction hereof. 
 7. 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 Subsidiary and the Company. 

  
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 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: August 6, 2009 

 

			
	MONEYGRAM SECURITIES, LLC
		
	By:	 	
		 	 /s/ Daniel J. Collins

		 	Name: Daniel J. Collins
		 	Title: SVP + Treasurer



  
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	MONEYGRAM PAYMENT SYSTEMS
	WORLDWIDE, INC.
		
	By:	 	
		 	 /s/ Daniel J. Collins

		 	Name: Daniel J. Collins
		 	Title: SVP + Treasurer



  
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	MONEYGRAM INTERNATIONAL, INC.
	MONEYGRAM PAYMENT SYSTEMS, INC.
	MONEYGRAM INVESTMENTS, LLC
	PROJECT REFUND, INC.
	MONEYGRAM OF NEW YORK, LLC
	PROPERTYBRIDGE, INC.
	MONEYGRAM SECURITIES, LLC
		
	By:	 	
		 	 /s/ Daniel J. Collins

		 	Name: Daniel J. Collins
		 	Title: SVP + Treasurer



  
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	DEUTSCHE BANK TRUST COMPANY
	 AMERICAS, a New York banking corporation, as
 Trustee and Collateral Agent

		
	By:	 	Deutsche Bank National Trust Company
		
		 	 /s/ David Contino, Vice President

		 	Authorized Signatory
		
	By:	 	
		
		 	 /s/ Irina Golovashchuk, Assistant Vice President

		 	Authorized Signatory



  
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