Document:

EX-4.3

 Exhibit 4.3 

SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”), dated as of February 13, 2018, among Western
Digital Corporation, a Delaware corporation (the “Issuer”), the guarantors party hereto (each, a “Guarantor” and together, the “Guarantors”) and U.S. Bank National Association, as trustee under the
Indenture referred to below (the “Trustee”). 
 WITNESSETH 

WHEREAS, the Issuer and the Guarantors have heretofore executed and delivered to the Trustee an indenture, dated as of April 13, 2016 (as
amended, supplemented or otherwise modified through the date hereof, the “Indenture”), providing for the issuance of 10.500% Senior Unsecured Notes due 2024 (the “Notes”); 

WHEREAS, the Issuer has offered to purchase for cash any and all of the outstanding Notes (the “Tender Offer”) and requested
that Holders of the Notes deliver their consents to, among other modifications, eliminate substantially all of the restrictive covenants and certain events of default and related provisions contained in the Indenture pursuant to the Offer to
Purchase and Consent Solicitation Statement, dated January 29, 2018 (as it may be amended or supplemented from time to time), and the related Consent and Letter of Transmittal (as it may be amended or supplemented from time to time); 

WHEREAS, Section 9.02 of the Indenture provides that the Issuer, the Guarantors and the Trustee may amend or supplement the Indenture,
the Notes and the Subsidiary Guarantees with the consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding (including, without limitation, consents obtained in connection with a tender offer for the Notes);

 WHEREAS, Holders of a majority in aggregate principal amount of the Notes have duly consented to the proposed amendments set forth in
this Second Supplemental Indenture in accordance with Section 9.02 of the Indenture; 
 WHEREAS, all other conditions precedent
provided under the Indenture have been complied with to permit the Issuer, the Guarantors and the Trustee to enter into this Second Supplemental Indenture; and 

WHEREAS, pursuant to Sections 9.02 and 9.06 of the Indenture, the Trustee is authorized to execute and deliver this Second Supplemental
Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is
hereby acknowledged, the Issuer, the Guarantors and the Trustee mutually covenant and agree as follows: 
 1. Capitalized Terms.
Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 
 2. Amendments. 

(a) The Indenture is hereby amended by deleting the following Sections of Article IV of the Indenture and all references thereto and
obligations thereunder: 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.13, 4.15 and 4.16, in each case in its entirety, and replacing each such Section with the following: “[Intentionally Omitted].” 

 (b) The Indenture is hereby amended by deleting clauses (a)(ii), (a)(iii) and (b)(ii) of
Section 5.01 of the Indenture and all references thereto and obligations thereunder, in each case in its entirety, and replacing each such clause with the following: “[intentionally omitted].” 

(c) The Indenture is hereby amended by deleting clauses (c), (d), (e), (f), (g), (h), (i), (j), (k) and (l) of Section 6.01 of
the Indenture and all references thereto and obligations thereunder, in each case in its entirety, and replacing each such clause with the following: “[intentionally omitted].” 

(d) Effective as of the date hereof, none of the Issuer, the Guarantors, the Trustee or other parties to or beneficiaries of the Indenture
shall have any obligations, rights or liabilities under the Sections or clauses set forth in clauses (a) through (c) above and such deleted Sections or clauses shall not be considered in determining whether a Default or Event of Default
has occurred or whether the Issuer or any of the Guarantors has observed, performed or complied with the provisions of the Indenture. 
 (e)
Any defined terms contained in the Indenture, the Notes or the Subsidiary Guarantees but no longer used as a result of the amendments made by this Second Supplemental Indenture are hereby eliminated in the Indenture. The definition of any defined
term used in the Indenture, the Notes or the Subsidiary Guarantees where such definition is set forth in any of the sections or subsections of the Indenture that are eliminated by this Second Supplemental Indenture and the term it defines is still
used in the Indenture, the Notes or the Subsidiary Guarantees shall be deemed to become part of, and defined in, Section 1.01 of the Indenture. Such defined terms are to be in alphanumeric order within Section 1.01 of the Indenture. Any
cross-references contained in the Indenture, the Notes or the Subsidiary Guarantees but no longer applicable as a result of the amendments made by this Second Supplemental Indenture are hereby eliminated in the Indenture. 

3. Effect and Operation of Second Supplemental Indenture. The provisions of this Second Supplemental Indenture shall be effective only
upon execution and delivery of this instrument by the parties hereto. Notwithstanding the foregoing sentence, the provisions of this Second Supplemental Indenture shall become operative only upon the acceptance for purchase by the Issuer, pursuant
to the Tender Offer, of at least a majority in aggregate principal amount of the outstanding Notes, with the result that the amendments to the Indenture effected by this Second Supplemental Indenture shall be deemed to be revoked retroactive to the
date hereof if such purchase shall not occur and will never become operative. The Issuer shall notify the Trustee in writing promptly after the occurrence of such purchase or promptly after the Issuer shall determine that such purchase will not
occur and such notice shall state the date that this Second Supplemental Indenture becomes operative (if applicable). Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and
provisions thereof shall remain in full force and effect. This Second Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.

 4. Indenture and Second Supplemental Indenture Construed Together. This Second Supplemental Indenture is an indenture supplemental
to, and in implementation of, the Indenture, and the Indenture and this Second Supplemental Indenture shall henceforth be read and construed together. 

5. Trust Indenture Acts Controls. If any provisions hereof limit, qualify or conflict with any provisions of the TIA required under the
TIA to be a part of or govern this Second Supplemental Indenture, the provisions of the TIA shall control. If any provision hereof modifies or excludes any provision of the TIA that pursuant to the TIA may be so modified or excluded, the provision
of the TIA as so modified or excluded hereby shall apply. 

 6. No Recourse Against Others. No director, officer, employee, incorporator or stockholder
of the Issuer or any Guarantor shall have any liability for any obligations of the Issuer or any Guarantor under the Notes, any Subsidiary Guarantee or the Indenture or for any claim based on, in respect of or by reason of such obligations or their
creation. Each Holder by accepting a Note shall waive and release all such liability. 
 7. GOVERNING LAW. THIS SECOND SUPPLEMENTAL
INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 8. Counterparts. The parties
may sign any number of copies of this Second Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. Signatures of the parties hereto transmitted by facsimile or other electronic
transmission shall be deemed to be their original signatures for all purposes. 
 9. Effect of Headings. The Section headings herein
are for convenience only and shall not affect the construction hereof. 
 10. Trustee Makes No Representation. The Trustee makes no
representation as to the validity or sufficiency of this Second Supplemental Indenture, or with respect to the recitals contained herein, all of which recitals are made solely by the other parties hereto. 

[Signature pages follows] 

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

					
	WESTERN DIGITAL CORPORATION, as Issuer
		
	By:	 	 /s/ Mark Long

		 	Name:	 	Mark Long
		 	Title:	 	President WD Capital, Chief Strategy Officer and Chief Financial Officer
	
	HGST, INC.
	WD MEDIA, LLC
	WESTERN DIGITAL (FREMONT), LLC
	 WESTERN DIGITAL TECHNOLOGIES, INC.,

as Guarantors

		
	By:	 	 /s/ Michael C. Ray

		 	Name:	 	Michael C. Ray
		 	Title:	 	Secretary of HGST, Inc.
		 		 	Secretary of WD Media, LLC
		 		 	Vice President and Secretary of Western
		 		 	Digital (Fremont), LLC
		 		 	Executive Vice President, Chief Legal
		 		 	Officer and Secretary of Western Digital
		 		 	Technologies, Inc.

 [Signature Page to Second Supplemental Indenture] 

 
			
	U.S. BANK NATIONAL ASSOCIATION,
	as Trustee
		
	By:	 	 /s/ Paula Oswald

		 	Name: Paula Oswald
		 	Title: Vice President

 [Signature Page to Second Supplemental Indenture]Exhibit 10.1

 

EXECUTION VERSION

 

AMENDMENT NUMBER TWO

TO THE

MASTER REPURCHASE AGREEMENT AND SECURITIES CONTRACT

DATED AS OF JUNE 28, 2017

BETWEEN

GP COMMERCIAL WF LLC

AND

WELLS FARGO BANK, NATIONAL ASSOCIATION

 

THIS AMENDMENT NUMBER TWO to the Master Repurchase Agreement and Securities Contract (as defined below) (this “Amendment”) is made this 9th day of February, 2018, between GP COMMERCIAL WF LLC (“Seller”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (“Buyer”).

 

WHEREAS, Seller and Buyer entered into (i) that certain Master Repurchase Agreement and Securities Contract, dated as of June 28, 2017, by and between Seller and Buyer (as amended, restated, supplemented or otherwise modified from time to time, the “Repurchase Agreement”), and (ii) that certain Fee and Pricing Letter, dated as of June 28, 2017, by and between Seller and Buyer (as amended, restated, supplemented or otherwise modified from time to time, the “Fee Letter”);

 

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

 

SECTION 1.                            Amendments. Effective as of the date of this Amendment the Repurchase Agreement is hereby amended as follows:

 

(a)                                 Section 2.01 of the Repurchase Agreement is hereby amended by adding the definition of “Servicer Remittance Date” in its appropriate alphabetical order:

 

“Servicer Remittance Date”: Defined in the Servicing Agreement, which definition is incorporated herein by reference.

 

(b)                                 Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definitions of “Repurchase Documents”, “Servicer” and “Servicing Agreement” in their respective entireties and replacing them with the following:

 

“Repurchase Documents”:  Collectively, this Agreement, the Custodial Agreement, the Fee Letter, the Controlled Account Agreements, the Servicing Agreement and any related sub-servicing agreements, the Pledge and Security Agreement, the Residual Pledge Agreement, the Guarantee Agreement, the Power of Attorney, the Contribution Agreement for each Purchased Asset, all Irrevocable Redirection Notices, all Confirmations, all UCC financing statements, amendments and continuation statements filed pursuant to any other Repurchase Document, and all additional documents, certificates, agreements or instruments, the execution of which is required, necessary or incidental to or desirable for performing or carrying out any other Repurchase Document.

 

 

“Servicer”: For each Purchased Asset, as determined in accordance with Article 17, Wells Fargo Bank, National Association, or its designee, or any another servicer acceptable to Buyer, servicing such Purchased Asset under a Servicing Agreement.

 

“Servicing Agreement”:  That certain Servicing Agreement, dated as of February 9, 2018, by and among Buyer, Seller, Wells Fargo Bank, National Association, as servicer, or any other agreement acceptable to Buyer entered into by Seller and a servicer, or among Buyer, Seller, and a servicer, as applicable, for the servicing of the Purchased Assets.

 

(c)                                  Section 2.01 of the Repurchase Agreement is hereby amended by deleting the definitions of “Servicer Joinder Agreement” and “Servicing Agreement Side Letter” in their respective entireties.

 

(d)                                 Section 5.01 of the Repurchase Agreement is hereby amended by deleting the section in its entirety and replacing it with the following:

 

Section 5.01 Waterfall Account.  The Waterfall Account shall be established at Deposit Account Bank.  Buyer shall have sole dominion and control (including, without limitation, “control” within the meaning of Section 9-104(a)(2) of the UCC) over the Waterfall Account pursuant to the terms of the applicable Controlled Account Agreement.  Neither Seller nor any Person claiming through or under Seller shall have any claim to or interest in the Waterfall Account.  All Income received in respect of the Purchased Assets, shall be transferred by Servicer, subject to the applicable provisions of the Servicing Agreement, from the Servicer Account into the Waterfall Account on each Servicer Remittance Date.  All such Income, once deposited in the Waterfall Account, shall be applied to and remitted by Deposit Account Bank in accordance with this Article 5.

 

(e)                                  Section 5.02 of the Repurchase Agreement is hereby amended by deleting the fourth clause in its entirety and replacing it with the following:

 

fourth, to pay any custodial fees and expenses due and payable under the Custodial Agreement;

 

(f)                                   Section 5.03 of the Repurchase Agreement is hereby amended by deleting the third clause in its entirety and replacing it with the following:

 

third, to pay any custodial fees and expenses due and payable under the Custodial Agreement;

 

(g)                                  Section 10.01(o) of the Repurchase Agreement is hereby amended by deleting the section in its entirety and replacing it with the following:

 

(o)  (i) Seller or Servicer (but only to the extent that Buyer or one of its Affiliates is not Servicer) fails to deposit to the Waterfall Account all Income and other amounts as required by Section 5.01 and other provisions of this Agreement when due, or (ii) a Servicer Event of Default (excluding Servicer’s failure to 

 

2

 

deposit Income in the Waterfall Account) shall have occurred and either (x) such Servicer Event of Default has not been cured, or (y) servicing of the Purchased Assets has not been transferred to Buyer or a designee of Buyer, in each case in respect of this clause (ii), within five (5) Business Days of such Servicer Event of Default;

 

(h)                                 Section 17.01 of the Repurchase Agreement is hereby amended by deleting subsection (a) in its entirety and replacing it with the following:

 

(a)  Each Servicer shall service the Purchased Assets on behalf of Buyer.  Each Servicing Agreement shall contain provisions which are consistent with this Article 17 and must otherwise be in form and substance reasonably satisfactory to Buyer, it being understood that in all cases where an Affiliate of Seller is the Servicer, the related Servicing Agreement shall be in the form approved by Buyer.

 

(i)                                     Section 17.01 of the Repurchase Agreement is hereby amended by deleting subsection (d) in its entirety and replacing it with the following:

 

(d)  The servicing fee payable to each Servicer shall be payable in accordance with the applicable Servicing Agreement.

 

(j)                                    Exhibit I of the Repurchase Agreement is hereby amended by deleting the exhibit in its entirety and replacing it with new Exhibit I which is set forth on Annex I attached hereto.

 

SECTION 2.                            Defined Terms.  Any terms capitalized but not otherwise defined herein shall have the respective meanings set forth in the Repurchase Agreement.

 

SECTION 3.                            Limited Effect.  Except as amended hereby, the Repurchase Agreement shall continue in full force and effect in accordance with its terms.  Reference to this Amendment need not be made in the Repurchase Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Repurchase Agreement, any reference in any of such items to the Repurchase Agreement being sufficient to refer to the Repurchase Agreement as amended hereby.

 

SECTION 4.                            Representations.  In order to induce Buyer to execute and deliver this Amendment, Seller hereby represents to Buyer that as of the date hereof, except as otherwise expressly waived by Buyer in writing, Seller is in full compliance with all of the terms and conditions of the Repurchase Agreement, including without limitation, all of the representations and warranties and all of the affirmative and negative covenants, and no Default or Event of Default has occurred and is continuing under the Repurchase Agreement.

 

SECTION 5.                            Fees and Expenses. Subject to the limitations specified in Section 13.02 of the Repurchase Agreement, Seller agrees to pay to Buyer all reasonable fees and out of pocket expenses incurred by Buyer in connection with this Amendment (including all reasonable fees and out of pocket costs and expenses of Buyer’s legal counsel incurred in connection with this Amendment) pursuant to Section 13.02 of the Repurchase Agreement.

 

3

 

SECTION 6.                            Governing Law. This Amendment and any claim, controversy or dispute arising under or related to or in connection with this Amendment, the relationship of the parties, and/or the interpretation and enforcement of the rights and duties of the parties will be governed by the laws of the State of New York without regard to any conflicts of law principles other than Sections 5-1401 of the New York General Obligations Law.

 

SECTION 7.                            Counterparts.  This Amendment may be executed in two (2) or more counterparts, each of which shall be deemed an original but all of which together shall constitute but one and the same agreement.  This Amendment, to the extent signed and delivered by facsimile or other electronic means, shall be treated in all manner and respects as an original agreement and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.  No signatory to this Amendment shall raise the use of a facsimile machine or other electronic means to deliver a signature or the fact that any signature or agreement was transmitted or communicated through the use of a facsimile machine or other electronic means as a defense to the formation or enforceability of a contract and each such Person forever waives any such defense.

 

SECTION 8.                            Effect of Amendment. This Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by Seller, Pledgor or Residual Pledgor (the “Repurchase Parties”) under or in connection with the Repurchase Agreement, the Fee and Pricing Letter, the Pledge Agreement, the Residual Pledge Agreement or any of the other Repurchase Documents to which any Repurchase Party is a party. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Repurchase Agreement, the Pledge Agreement and the Residual Pledge Agreement are preserved, (ii) the liens and security interests granted under Repurchase Agreement, the Pledge Agreement and the Residual Pledge Agreement continue in full force and effect, and (iii) any reference to the Repurchase Agreement in any Repurchase Document or other document or instrument delivered in connection therewith shall be deemed to refer to this Amendment and the provisions hereof.

 

[SIGNATURE PAGE FOLLOWS]

 

4

 

IN WITNESS WHEREOF, Seller and Buyer have caused this Amendment to be executed and delivered by their duly authorized officers as of the date hereof.

 

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Buyer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Michael P. Duncan
    
	
 
    	
 
    	
Name: Michael P. Duncan
    
	
 
    	
 
    	
Title: Vice President
    

 

Signature Pages to Amendment Number Two to Repurchase Agreement (WF-Granite Point)

 

 

	
GP   COMMERCIAL WF LLC, as Seller
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/ Marcin Urbaszek
    	
 
    
	
 
    	
Name: Marcin Urbaszek
    	
 
    
	
 
    	
Title: Chief Financial   Officer
    	
 
    

 

Signature Pages to Amendment Number Two to Repurchase Agreement (WF-Granite Point)

 

 

ANNEX I

 

EXHIBIT I

 

[RESERVED]

 

Annex I to Amendment Number Two to Repurchase Agreement (WF-Granite Point)

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