Document:

bldr-ex44_6.htm

Exhibit 4.4

 

SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of April 24, 2020, by and among Builders FirstSource, Inc., a Delaware corporation (the “Issuer”), the guarantors party hereto (the “Guarantors”) and Wilmington Trust, National Association, as trustee (the “Trustee”) and as collateral agent (the “Notes Collateral Agent”).

W I T N E S S E T H

WHEREAS, the Issuer, the Guarantors, the Trustee and the Notes Collateral Agent have heretofore executed and delivered an indenture, dated as of May 30, 2019 (as supplemented by the First Supplemental Indenture, dated as of July 25, 2019, the “Indenture”), relating to the issuance of 6.750% Senior Secured Notes due 2027;

WHEREAS, pursuant to the Indenture, the Issuer has issued $400,000,000 aggregate principal amount of its 6.750% Senior Secured Notes due 2027 on May 30, 2019 and $75,000,000 aggregate principal amount of its 6.750% Senior Secured Notes due 2027 on July 25, 2019 (collectively, the “Initial Notes”); 

WHEREAS, Section 2.1 of the Indenture provides that Additional Notes ranking pari passu with the Initial Notes may be issued from time to time by the Issuer (subject to the Issuer’s compliance with Sections 3.2 and 3.6 of the Indenture) without notice to or consent of the Holders and shall be consolidated with and form a single class with the Initial Notes and, except as set forth therein, shall have the same terms as to status, redemption or otherwise as the Initial Notes; 

WHEREAS, the Issuer and the Guarantors desire to execute and deliver this Supplemental Indenture for the purpose of issuing an additional $350,000,000 aggregate principal amount of 6.750% Senior Secured Notes due 2027, having terms substantially identical in all material respects to the Initial Notes (the “Additional 2027 Notes” and, together with the Initial Notes, the “Notes”); and

WHEREAS, Section 9.1 of the Indenture provides that, among other things, the Issuer, the Guarantors and the Trustee may supplement the Indenture without the consent of any Holder to provide for the issuance of Additional Notes in accordance with the terms of the Indenture.

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties 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)   Additional Notes.  As of the date hereof, the Issuer will issue, and the Trustee is directed to authenticate and deliver, the Additional 2027 Notes, which constitute Additional Notes under the Indenture, having terms substantially identical in all material respects to the Initial Notes, at an issue price of 98.750%, plus accrued and unpaid interest from December 1, 2019. The interest on the Additional 2027 Notes shall accrue from December 1, 2019. The Additional 2027 Notes shall be issued as Restricted Notes under the Indenture.  The Initial Notes 

 

 

 

 

 

and the Additional 2027 Notes shall be treated as a single class for all purposes under the Indenture.

(3)   Necessary Actions.  Each of the Issuer and the Guarantors hereby represents and warrants that all actions necessary to give effect to this Supplemental Indenture have been taken. 

(4)   Governing Law.  THIS SUPPLEMENTAL INDENTURE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL INDENTURE, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

(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.  This Supplemental Indenture may be executed in multiple counterparts which, when taken together, shall constitute one instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmissions shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes.

(6)   Effect of Headings.  The Section headings herein have been inserted for convenience of reference only, are not to be considered a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions 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 Issuer and the Guarantors.

(8)   Continued Effect. Except as expressly supplemented and amended by this Supplemental Indenture, the Indenture shall continue in full force and effect in accordance with the provisions thereof, and the Indenture (as supplemented and amended by this Supplemental Indenture) is in all respects hereby ratified and confirmed. This Supplemental Indenture and all the terms and conditions of this Supplemental Indenture, with respect to the Notes, shall be and be deemed to be part of the terms and conditions of the Indenture for any and all purposes.

 

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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.

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
BUILDERS FIRSTSOURCE, INC.

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/ Donald F. McAleenan

	
 
	
 
	
 
	
 
	
Name:
	
 
	
Donald F. McAleenan

	
 
	
 
	
 
	
 
	
Title:
	
 
	
Senior Vice President, General Counsel and Secretary

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
ON BEHALF OF EACH OF THE GUARANTORS LISTED ON SCHEDULE I HERETO

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/ Donald F. McAleenan

	
 
	
 
	
 
	
 
	
Name:
	
 
	
Donald F. McAleenan

	
 
	
 
	
 
	
 
	
Title:
	
 
	
Senior Vice President, General Counsel and Secretary

[Signature Page to the Second Supplemental Indenture]

 

 

 

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
WILMINGTON TRUST, NATIONAL ASSOCIATION,
as Trustee and as Notes Collateral Agent

	
 
	
 
	
 
	
 

	
 
	
 
	
By:
	
 
	
/s/ W. Thomas Morris, II

	
 
	
 
	
 
	
 
	
Name:
	
 
	
W. Thomas Morris, II

	
 
	
 
	
 
	
 
	
Title:
	
 
	
Vice President

 

 

[Signature Page to the Second Supplemental Indenture]

 

SCHEDULE I

Guarantors

 

	
 
	
1.
	
Builders FirstSource Holdings, LLC, a Delaware limited liability company

	
 
	
2.
	
Builders FirstSource - Northeast Group, LLC, a Delaware limited liability company

	
 
	
3.
	
Builders FirstSource - Texas GenPar, LLC, a Delaware limited liability company

	
 
	
4.
	
Builders FirstSource - MBS, LLC, a Delaware limited liability company

	
 
	
5.
	
BFS Texas, LLC, a Delaware limited liability company

	
 
	
6.
	
BFS IP, LLC, a Delaware limited liability company

	
 
	
7.
	
Builders FirstSource - Dallas, LLC, a Delaware limited liability company

	
 
	
8.
	
Builders FirstSource - Florida, LLC, a Delaware limited liability company

	
 
	
9.
	
Builders FirstSource - Florida Design Center, LLC, a Delaware limited liability company

	
 
	
10.
	
Builders FirstSource - Ohio Valley, LLC, a Delaware limited liability company

	
 
	
11.
	
BFS, LLC, a Delaware limited liability company

	
 
	
12.
	
Builders FirstSource - Atlantic Group, LLC, a Delaware limited liability company

	
 
	
13.
	
Builders FirstSource - Southeast Group, LLC, a Delaware limited liability company 

	
 
	
14.
	
Builders FirstSource - Raleigh, LLC, a Delaware limited liability company 

	
 
	
15.
	
Builders FirstSource - Colorado Group, LLC, a Delaware limited liability company

	
 
	
16.
	
Builders FirstSource - Colorado, LLC, a Delaware limited liability company

	
 
	
17.
	
Builders FirstSource - Texas Group, L.P., a Texas limited partnership 

	
 
	
18.
	
Builders FirstSource - South Texas, L.P., a Texas limited partnership

	
 
	
19.
	
Builders FirstSource - Intellectual Property, L.P., a Texas limited partnership

	
 
	
20.
	
Builders FirstSource - Texas Installed Sales, L.P., a Texas limited partnership

	
 
	
21.
	
ProBuild Holdings LLC, a Delaware limited liability company

	
 
	
22.
	
ProBuild Company LLC, a Delaware limited liability company

	
 
	
23.
	
Pro-Build Real Estate Holdings, LLC, a Delaware limited liability company

	
 
	
24.
	
Builder’s Capital, LLC, a New York limited liability company

	
 
	
25.
	
ProBuild North Transportation LLC, a Washington limited liability company

	
 
	
26.
	
Timber Roots, LLC, a Washington limited liability company

	
 
	
27.
	
Spenard Builders Supply LLC, an Alaska limited liability companyExhibit

EXHIBIT 10.1
U.S. Small Business Administration
	
		
	SBA Loan #
	67102771-05

	SBA Loan Name
	IZEA Worldwide, Inc.

	Date
	4/21/2020

	Loan Amount
	$1,905,100

	Interest Rate
	1.00% per annum

	Borrower
	IZEA Worldwide, Inc., a Nevada Corporation

	Operating Company
	N/A

	Lender
	Western Alliance Bank, an Arizona Corporation

		
	1.
	PROMISE TO PAY:

In return for the Loan, Borrower promises to pay to the order of Lender the amount of One Million Nine Hundred Five Thousand One Hundred and No/100 Dollars, interest on the unpaid principal balance, and all other amounts required by this Note.

		
	2.
	DEFINITIONS:

“Collateral” means any property taken as security for payment of this Note or any guarantee of this Note. “Guarantor” means each person or entity that signs a guarantee of payment of this Note.
“Loan” means the loan evidenced by this Note.
“Loan Documents” means the documents related to this loan signed by Borrower, any Guarantor, or anyone who pledges collateral.
“SBA” means the Small Business Administration, an Agency of the United States of America.

Page 1

		
	3.
	PAYMENT TERMS:

Borrower must make all payments at the place Lender designates. The payment terms for this Note are: 

	
	
	This Note will mature in 2 years from the date of initial disbursement.
The interest rate is 1.00% per year.

Borrower must pay principal and interest payments every month, beginning seven months from the date of initial disbursement in an amount sufficient to fully≠amortize the outstanding balance; payments must be made on the 4th calendar day in the months they are due.

Lender will apply each installment payment first to pay interest accrued to the day Lender receives the payment, then to bring principal current, then to pay any late fees, and will apply any remaining balance to reduce principal. Lender may adjust the payment amount periodically as needed to amortize the principal over the remaining term of the Note.

Loan Prepayment:

Notwithstanding any provision in this Note to the contrary:

Borrower may prepay this Note. Borrower may prepay 20 percent or less of the unpaid principal balance at any time without notice. If Borrower prepays more than 20 percent and the Loan has been sold on the secondary market, Borrower must:
a. Give Lender written notice;
b. Pay all accrued interest; and
c. If the prepayment is received less than 21 days from the date Lender receives the notice, pay an amount equal to 21 days' interest from the date lender receives the notice, less any interest accrued during the 21 days and paid under subparagraph b., above.

If Borrower does not prepay within 30 days from the date Lender receives the notice, Borrower must give Lender a new notice.

All remaining principal and accrued interest is due and payable 2 years from date of initial disbursement.

Late Charge. If payment on this Note is more than 10 days late, Lender may charge Borrower a late fee of up to 5.00% of the unpaid portion of the regularly scheduled payment.

Page 2

		
	4.
	DEFAULT:

Borrower is in default under this Note if Borrower does not make a payment when due under this Note, or if Borrower or Operating Company:

		
	A.
	Fails to do anything required by this Note and other Loan Documents;

		
	B.
	Defaults on any other loan with Lender;

		
	C.
	Does not preserve, or account to Lender’s satisfaction for, any of the Collateral or its proceeds;

		
	D.
	Does not disclose, or anyone acting on their behalf does not disclose, any material fact to Lender or SBA;

		
	E.
	Makes, or anyone acting on their behalf makes, a materially false or misleading representation to Lender or SBA;

		
	F.
	Defaults on any loan or agreement with another creditor, if Lender believes the default may materially affect Borrower’s ability to pay this Note;

		
	G.
	Fails to pay any taxes when due;

		
	H.
	Becomes the subject of a proceeding under any bankruptcy or insolvency law;

		
	I.
	Has a receiver or liquidator appointed for any part of their business or property;

		
	J.
	Makes an assignment for the benefit of creditors;

		
	K.
	Has any adverse change in financial condition or business operation that Lender believes may materially affect Borrower’s ability to pay this Note;

		
	L.
	Reorganizes, merges, consolidates, or otherwise changes ownership or business structure without Lender’s prior written consent; or

		
	M.
	Becomes the subject of a civil or criminal action that Lender believes may materially affect Borrower’s ability to pay this Note.

		
	5.
	LENDER’S RIGHTS IF THERE IS A DEFAULT:

Without notice or demand and without giving up any of its rights, Lender may:

		
	A.
	Require immediate payment of all amounts owing under this Note;

		
	B.
	Collect all amounts owing from any Borrower or Guarantor;

		
	C.
	File suit and obtain judgment;

		
	D.
	Take possession of any Collateral; or

		
	E.
	Sell, lease, or otherwise dispose of, any Collateral at public or private sale, with or without advertisement.

Page 3

		
	6.
	LENDER’S GENERAL POWERS:

Without notice and without Borrower’s consent, Lender may:

		
	A.
	Bid on or buy the Collateral at its sale or the sale of another lienholder, at any price it chooses;

		
	B.
	Incur expenses to collect amounts due under this Note, enforce the terms of this Note or any other Loan Document, and preserve or dispose of the Collateral. Among other things, the expenses may include payments for property taxes, prior liens, insurance, appraisals, environmental remediation costs, and reasonable attorney’s fees and costs. If Lender incurs such expenses, it may demand immediate repayment from Borrower or add the expenses to the principal balance;

		
	C.
	Release anyone obligated to pay this Note;

		
	D.
	Compromise, release, renew, extend or substitute any of the Collateral; and

		
	E.
	Take any action necessary to protect the Collateral or collect amounts owing on this Note.

		
	7.
	WHEN FEDERAL LAW APPLIES:

When SBA is the holder, this Note will be interpreted and enforced under federal law, including SBA regulations. Lender or SBA may use state or local procedures for filing papers, recording documents, giving notice, foreclosing liens, and other purposes. By using such procedures, SBA does not waive any federal immunity from state or local control, penalty, tax, or liability. As to this Note, Borrower may not claim or assert against SBA any local or state law to deny any obligation, defeat any claim of SBA, or preempt federal law.

		
	8.
	SUCCESSORS AND ASSIGNS:

Under this Note, Borrower and Operating Company include the successors of each, and Lender includes its successors and assigns.

		
	9.
	GENERAL PROVISIONS:

		
	A.
	All individuals and entities signing this Note are jointly and severally liable.

		
	B.
	Borrower waives all suretyship defenses.

		
	C.
	Borrower must sign all documents necessary at any time to comply with the Loan Documents and to enable Lender to acquire, perfect, or maintain Lender’s liens on Collateral.

		
	D.
	Lender may exercise any of its rights separately or together, as many times and in any order it chooses. Lender may delay or forgo enforcing any of its rights without giving up any of them.

		
	E.
	Borrower may not use an oral statement of Lender or SBA to contradict or alter the written terms of this Note.

		
	F.
	If any part of this Note is unenforceable, all other parts remain in effect.

		
	G.
	To the extent allowed by law, Borrower waives all demands and notices in connection with this Note, including presentment, demand, protest, and notice of dishonor. Borrower also waives any defenses based upon any claim that Lender did not obtain any guarantee; did not obtain, perfect, or maintain a lien upon Collateral; impaired Collateral; or did not obtain the fair market value of Collateral at a  sale.

Page 4

		
	10.
	STATE-SPECIFIC PROVISIONS:

	
	
	When SBA is not the holder of this Note, the law of the State where the loan is made shall govern the interpretation and enforcement of this Note.

Page 5

		
	11.
	BORROWER’S NAME(S) AND SIGNATURE(S):

By signing below, each individual or entity becomes obligated under this Note as Borrower.
	
	
	IZEA Worldwide, Inc., a Nevada Corporation

	 

	By:       /s/ LeAnn Hitchcock

	Name:  LeAnn Hitchcock

	Title:    Chief Financial Officer

	Date:    April 23, 2020

	 

	By:       /s/ Edward H. Murphy

	Name:  Edward H. Murphy

	Title:    Chief Executive Officer

	Date:    April 23, 2020

Page 6

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