Document:

EXHIBIT 4.1

 

AMENDMENT NO. 1 TO

RIGHTS AGREEMENT

 

This AMENDMENT NO. 1 TO RIGHTS AGREEMENT, dated as of February 20, 2013 (this “Amendment”), is between Steinway Musical Instruments, Inc., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, as Rights Agent (the “Rights Agent”).  Capitalized terms used herein but not defined shall have the meanings set forth in the Rights Agreement dated as of September 26, 2011, between the Company and the Rights Agent (the “Agreement”).

 

RECITALS

 

WHEREAS, the Company and the Rights Agent previously entered into the Agreement;

 

WHEREAS, the Company and the Rights Agent wish to make certain changes to the Agreement; and

 

WHEREAS, pursuant to Section 28 of the Agreement, the provisions of the Agreement contemplated to be amended hereby may be amended without the approval of any holders of Right Certificates;

 

NOW THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

AMENDMENT

 

Section 1                                              Amendments to the Agreement.

 

(a)                                 Section 1(b) of the Agreement is hereby amended by inserting the following language at the end of the existing Section 1(b):

 

“Notwithstanding the foregoing, if the Board of Directors of the Company, in advance of any proposed specified action or activity by two or more Persons, determines in good faith and documents in writing with such Persons that the proposed specified action or activity of such Persons will not be detrimental to the interests of the Company and its stockholders, then such action or activity as specified in such writing shall not be deemed to cause such Persons to be ‘Acting in Concert’ for purposes of this Agreement.”

 

(b)                                 Section 27 of the Agreement is hereby amended such that notices to the Company are to be delivered to:

 

Steinway Musical Instruments, Inc.

800 South Street, Suite 305

Waltham, Massachusetts 02453

Attention:  Secretary

 

with a copy to:

 

 

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166

Attention:  John T. Gaffney

 

Section 2                                              Effect of Amendment.  Except as amended as set forth above, the Agreement shall continue in full force and effect.  Nothing in this Amendment shall be construed to modify any provision of the Agreement other than those specifically amended as set forth above.

 

Section 3                                              Successors and Assigns.   This Amendment shall be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.

 

Section 4                                              Counterparts.  This Amendment may be executed in one or more counterparts, all of which shall be considered an original and all of which together shall constitute one and the same instrument.  This Amendment shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.

 

Section 5                                              Facsimile Signature.  This Amendment may be executed by facsimile signature and a facsimile signature shall constitute an original for all purposes.

 

[The remainder of this page is intentionally left blank.]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

 

	
 
    	
STEINWAY   MUSICAL INSTRUMENTS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Dennis M. Hanson
    
	
 
    	
Name:
    	
Dennis   M. Hanson
    
	
 
    	
Title:
    	
Senior   Executive Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
CONTINENTAL   STOCK TRANSFER & TRUST COMPANY
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   John W. Comer, Jr
    
	
 
    	
Name:
    	
John   W. Comer, Jr.
    
	
 
    	
Title:
    	
Vice   PresidentEXHIBIT 4.2

 

AMENDMENT NO. 1 TO

SUBSCRIPTION AGREEMENT

 

This AMENDMENT NO. 1 TO SUBSCRIPTION AGREEMENT, dated as of February 20, 2013 (this “Amendment”), is between Steinway Musical Instruments, Inc., a Delaware corporation (the “Company”), and Samick Musical Instruments Co., Ltd., a Korean corporation (the “Subscriber”).  Capitalized terms used herein but not defined shall have the meanings set forth in the Subscription Agreement dated as of November 5, 2009, between the Company and the Subscriber (the “Agreement”).

 

RECITALS

 

WHEREAS, the Company and the Subscriber previously entered into the Agreement; and

 

WHEREAS, the Company and the Subscriber wish to make certain changes to the Agreement;

 

NOW THEREFORE, in consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the parties hereto agree as follows:

 

AMENDMENT

 

Section 1                                              Amendments to the Agreement. (a) Section 5.01 of the Agreement is hereby amended and restated in its entirety to read as follows:

 

“Section 5.01                                                           Standstill.  Except as provided under Article II of this Agreement, without the prior approval of the Board of Directors of the Company, neither the Subscriber nor any of its Affiliates nor anyone acting on its or their behalf, shall:  (a) acquire beneficial or record ownership of any additional securities of the Company, including any additional shares of the Ordinary Common Stock of the Company; provided, however, that the Subscriber may, without such consent, acquire outstanding shares of the Ordinary Common Stock as long as the aggregate holdings of the Subscriber and its Affiliates, including the Shares, does not exceed 35% of the total number of outstanding shares of the Ordinary Common Stock, and provided that such acquisition is otherwise in compliance with all applicable Laws; (b) except as expressly permitted by Article II or this Section 5.01, in any manner, acquire, agree to acquire or make any proposal to acquire, directly or indirectly, any assets or securities of the Company (or beneficial ownership thereof) or any rights or options to acquire any assets or securities of the Company (or beneficial ownership thereof); (c) propose to enter into, directly or indirectly, any merger or business combination involving the Company or any of its subsidiaries or divisions; (d) otherwise act, alone or in concert with others, to seek to control or influence the management, board of directors, or policies of the Company, other than as or through a member of the board of directors; (e)  disclose any intention, plan, or arrangement inconsistent with the foregoing; or (f) advise, assist, or encourage any other persons in connection with any of the foregoing in a manner which is inconsistent with the foregoing restrictions.”

 

 

(b)                                 Section 6.04 of the Agreement is hereby amended such that notices to the Company are to be delivered to:

 

Steinway Musical Instruments, Inc.

800 South Street, Suite 305

Waltham, Massachusetts 02453

Fax:  (781) 894-9803

Attention:  Dennis M. Hanson

 

with a copy to:

 

Gibson, Dunn & Crutcher LLP

200 Park Avenue

New York, New York 10166

Fax:  (212) 351-6326

Attention:  John T. Gaffney, Esq.

 

Section 2                                              Effect of Amendment.  Except as amended as set forth above, the Agreement shall continue in full force and effect.  Nothing in this Amendment shall be construed to modify any provision of the Agreement other than those specifically amended as set forth above.

 

Section 3                                              Successors and Assigns.   This Amendment shall be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.

 

Section 4                                              Counterparts.  This Amendment may be executed in one or more counterparts, all of which shall be considered an original and all of which together shall constitute one and the same instrument.  This Amendment shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party.

 

Section 5                                              Facsimile Signature.  This Amendment may be executed by facsimile signature and a facsimile signature shall constitute an original for all purposes.

 

[The remainder of this page is intentionally left blank.]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

 

 

	
 
    	
STEINWAY   MUSICAL INSTRUMENTS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Dennis M. Hanson
    
	
 
    	
Name:
    	
Dennis   M. Hanson
    
	
 
    	
Title:
    	
Senior   Executive Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
SAMICK   MUSICAL INSTRUMENTS CO., LTD.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Jong Sup Kim
    
	
 
    	
Name:
    	
Jong   Sup Kim
    
	
 
    	
Title:
    	
ChairmanExhibit 10.5

 

EXECUTION VERSION

 

AMENDMENT AGREEMENT

 

Dated as of January 17, 2013

 

by and among

 

AMPHENOL FUNDING CORP.,
 as Seller,

 

AMPHENOL CORPORATION,
 as Servicer,

 

ATLANTIC ASSET SECURITIZATION LLC,
 as Conduit Purchaser,

 

and

 

CRÉDIT AGRICOLE CORPORATE
 AND INVESTMENT BANK
 as Administrative Agent for the Purchasers
 and Related Committed Purchaser

 

 

This AMENDMENT AGREEMENT (this “Agreement”), dated as of January 17, 2013 (the “Amendment Effective Date”), is by and among Amphenol Funding Corp., a Delaware corporation, as Seller (“AFC”), Amphenol Corporation, a Delaware corporation, as Servicer (“Amphenol”), Atlantic Asset Securitization LLC, a Delaware limited liability company, as Conduit Purchaser (“Atlantic”), and Crédit Agricole Corporate and Investment Bank, f/k/a Calyon New York Branch, a French banking corporation, duly licensed under the laws of the State of New York, as Administrative Agent for the Purchasers and as the sole Related Committed Purchaser as of the date hereof (“Crédit Agricole”).

 

Reference is hereby made to (i) that certain Receivables Purchase Agreement, dated as of July 31, 2006, as amended on May 26, 2009, May 25, 2010, February 1, 2011, September 9, 2011 and January 19, 2012 (as amended or otherwise modified, the “Receivables Purchase Agreement”), among AFC, Amphenol, Atlantic and Crédit Agricole; and (ii) that certain Amended and Restated Fee Letter, dated as of January 19, 2012 (as amended or otherwise modified, the “Fee Letter”).

 

RECITALS

 

WHEREAS, the parties hereto wish to amend the Receivables Purchase Agreement, as herein set forth;

 

WHEREAS, AFC desires that Crédit Agricole extend its Commitment in its capacity as a Related Committed Purchaser under the Receivables Purchase Agreement, and Crédit Agricole is willing to extend such Commitment;

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

ARTICLE I
 DEFINED TERMS

 

SECTION 1.1  Capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Receivables Purchase Agreement.

 

ARTICLE II
 AMENDMENTS TO THE AFFECTED DOCUMENTS

 

SECTION 2.1  Amendments to Receivables Purchase Agreement.

 

(a)                                 The definition of Commitment Expiry Date in Exhibit I to the Receivables Purchase Agreement is hereby amended in its entirety as follows:

 

“Commitment Expiry Date” means for any Related Committed Purchaser, January 16, 2014, as such date may be extended from time to time in the sole discretion of such Related Committed Purchaser pursuant to Section 1.12 of theReceivables Purchase Agreement.

 

RPA Amendment

 

 

(b)                                 The definition of Scheduled Commitment Expiry Date in Exhibit I to the Receivables Purchase Agreement is herby amended in its entirety as follows:

 

“Scheduled Commitment Expiry Date” means January 16, 2014.

 

(c)                                  The definition of Scheduled Facility Termination Date in Exhibit I to the Receivables Purchase Agreement is hereby amended in its entirety as follows:

 

“Scheduled Facility Termination Date” means January 16, 2014.

 

SECTION 2.2  Amendments to Fee Letter

 

(a)                                 Concurrently with the execution of this Agreement, the parties hereto are entering into an amendment and restatement of the Fee Letter (the “Amended Fee Letter”), to be dated as of the date hereof and containing certain modifications to the terms thereof, and the parties hereto agree that the definition of “Fee Letter” in Section 1.7 of the Receivable Purchase Agreement shall be deemed to refer to the Amended Fee Letter from and after its execution and delivery.

 

ARTICLE III
 CONDITIONS TO EFFECTIVENESS

 

SECTION 3.1  Amendment Effective Date.  This Agreement and the provisions contained herein shall become effective as of the date hereof, provided that (A) Crédit Agricole shall have, in form and substance satisfactory to it, received an original counterpart (or counterparts) of this Agreement executed by each of the parties hereto, and (B) Crédit Agricole shall have received the Renewal Fee described in the Amended Fee Letter.

 

ARTICLE IV
 NOTICE, CONFIRMATION, ACKNOWLEDGEMENT,
 RELEASE AND REPRESENTATIONS AND WARRANTIES

 

SECTION 4.1  Notice.  Each party hereto hereby acknowledges timely notice of the execution of this Agreement and of the transactions and amendments contemplated hereby.  Each party hereto hereby waives any notice requirement contained in the Transaction Documents with respect to the execution of this Agreement.

 

SECTION 4.2  Confirmation of the Subject Documents.  The parties hereto each hereby acknowledge and agree that, except as herein expressly amended, the Receivables Purchase Agreement and each other Transaction Document are each ratified and confirmed in all respects and shall remain in full force and effect in accordance with their respective terms.

 

SECTION 4.3  Representations and Warranties.  By its signature hereto, each party hereto hereby represents and warrants that, before and after giving effect to this Agreement, as follows:

 

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(a)                                 Its representations and warranties set forth in the Transaction Documents (as amended hereby) are true and correct as if made on the date hereof, except to the extent they expressly relate to an earlier date, and except for matters that have been disclosed to Crédit Agricole in writing; and

 

(b)                                 No Termination Event (as defined in the Receivables Purchase Agreement) has occurred and is continuing.

 

ARTICLE V
 MISCELLANEOUS

 

SECTION 5.1  GOVERNING LAW.  THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

 

SECTION 5.2  Execution in Counterparts.  This Agreement may be executed in any number of counterparts, each of which, when so executed, shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same agreement.

 

SECTION 5.3  WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO WAIVES THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY ACTION, PROCEEDING OR OTHER LITIGATION OF ANY TYPE BROUGHT BY ANY OF THE PARTIES AGAINST ANY OTHER PARTY OR PARTIES, WHETHER WITH RESPECT TO CONTRACT CLAIMS, TORT CLAIMS OR OTHERWISE.  EACH OF THE PARTIES HERETO AGREES THAT ANY SUCH CLAIM OR CAUSE OF ACTION SHALL BE TRIED BY A COURT TRIAL WITHOUT A JURY. WITHOUT LIMITING THE FOREGOING, EACH OF THE PARTIES HERETO FURTHER AGREES THAT ITS RESPECTIVE RIGHT TO A TRIAL BY JURY IS WAIVED BY OPERATION OF THIS SECTION AS TO ANY ACTION, COUNTERCLAIM OR OTHER PROCEEDING THAT SEEKS, IN WHOLE OR IN PART, TO CHALLENGE THE VALIDITY OR ENFORCEABILITY OF THIS AGREEMENT OR ANY PROVISION HEREOF. THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT.

 

SECTION 5.4  Entire Agreement.  This Agreement, the Receivables Purchase Agreement, as amended by this Agreement, and the other Transaction Documents, as amended by this Agreement, embody the entire agreement and understanding of the parties hereto and supersede any and all prior agreements, arrangements and understandings relating to the matters provided for herein.

 

SECTION 5.5  Headings.  The captions and headings of this Agreement are for convenience of reference only and shall not affect the interpretation hereof or thereof.

 

SECTION 5.6  Severability.  If any provision of this Agreement, or the application thereof to any party or any circumstance, is held to be unenforceable, invalid or illegal (in whole

 

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or in part) for any reason (in any jurisdiction), the remaining terms of this Agreement, modified by the deletion of the unenforceable, invalid or illegal portion (in any relevant jurisdiction), will continue in full force and effect, and such unenforceability, invalidity or illegality will not otherwise affect the enforceability, validity or legality of the remaining terms of this Agreement so long as this Agreement, as so modified, continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the deletion of such portion of this Agreement will not substantially impair the respective expectations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties.

 

SECTION 5.7  SUBMISSION TO JURISDICTION.  ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK; AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES HERETO CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT PERMITTED BY LAW, ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF THIS AGREEMENT OR ANY DOCUMENT RELATED HERETO. EACH OF THE PARTIES HERETO WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH SERVICE MAY BE MADE BY ANY OTHER MEANS PERMITTED BY NEW YORK LAW.

 

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective officers thereunto duly authorized, as of the date first above written.

 

	
 
    	
AMPHENOL   FUNDING CORP.,
    
	
 
    	
as   Seller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Diana G. Reardon
    
	
 
    	
Name:   Diana G. Reardon
    
	
 
    	
Title:   Executive Vice President and CFO
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
358   Hall Avenue
    
	
 
    	
 
    	
Wallingford,   Connecticut 06492
    
	
 
    	
 
    	
Attention:   Treasurer
    
	
 
    	
 
    	
Facsimile:   (203) 265-8623
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
AMPHENOL   CORPORATION,
    
	
 
    	
individually   and as Servicer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   David Jositas
    
	
 
    	
Name:   David Jositas
    
	
 
    	
Title:   Treasurer
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
358   Hall Avenue
    
	
 
    	
 
    	
Wallingford,   Connecticut 06492
    
	
 
    	
 
    	
Attention:   Treasurer
    
	
 
    	
 
    	
Facsimile:   (203) 265-8623
    
				

 

S-1

 

	
 
    	
ATLANTIC   ASSET SECURITIZATION LLC,
    
	
 
    	
as   Conduit Purchaser
    
	
 
    	
 
    
	
 
    	
By:
    	
CRÉDIT   AGRICOLE CORPORATE AND
    
	
 
    	
 
    	
INVESTMENT   BANK,
    
	
 
    	
 
    	
as   Attorney-in-fact
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
Amit   Patel
    
	
 
    	
 
    	
c/o   Crédit Agricole Corporate and
    
	
 
    	
 
    	
Investment   Bank
    
	
 
    	
 
    	
1301   Avenue of the Americas, 17th Floor
    
	
 
    	
 
    	
New   York, NY 10019
    
	
 
    	
 
    	
Phone:   212-261-7845
    
	
 
    	
 
    	
Facsimile:   917-849-5584
    
				

 

S-2

 

	
 
    	
CRÉDIT   AGRICOLE CORPORATE AND
    
	
 
    	
INVESTMENT   BANK,
    
	
 
    	
as   Administrative Agent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
Amit   Patel
    
	
 
    	
 
    	
c/o   Crédit Agricole Corporate and
    
	
 
    	
 
    	
Investment   Bank
    
	
 
    	
 
    	
1301   Avenue of the Americas, 17th Floor
    
	
 
    	
 
    	
New   York, NY 10019
    
	
 
    	
 
    	
Phone:   212-261-7845
    
	
 
    	
 
    	
Facsimile:   917-849-5584
    
				

 

S-3

 

	
 
    	
CRÉDIT   AGRICOLE CORPORATE AND
    
	
 
    	
INVESTMENT   BANK,
    
	
 
    	
as   a Related Committed Purchaser for Atlantic
   Asset Securitization LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
Address:
    
	
 
    	
 
    	
Amit   Patel
    
	
 
    	
 
    	
c/o   Crédit Agricole Corporate and
    
	
 
    	
 
    	
Investment   Bank
    
	
 
    	
 
    	
1301   Avenue of the Americas, 17th Floor
    
	
 
    	
 
    	
New   York, NY 10019
    
	
 
    	
 
    	
Phone:   212-261-7845
    
	
 
    	
 
    	
Facsimile:   917-849-5584
    
				

 

S-4

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