Document:

Exhibit

Exhibit 4.1

SUPPLEMENTAL INDENTURE

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of July 5, 2019, among Virgin Media Secured Finance PLC, as Issuer (the “Issuer”), and BNY Mellon Corporate Trustee Services Limited, as Trustee under the Indenture referred to below (the “Trustee”). Capitalized terms used but not otherwise defined herein have the meaning assigned to such terms in the Indenture.

W I T N E S E T H

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of May 16, 2019, providing for the issuance of an initial aggregate principal amount of the $825,000,000 5.500% Senior Secured Notes due 2029 (the “Dollar Notes”) and £300,000,000 5.250% Senior Secured Notes due 2029 (the “Sterling Notes” and, together with the Dollar Notes, the “Notes”).

WHEREAS, pursuant to Section 9.01(a)(7) of the Indenture, the Issuer and the Trustee may amend or supplement the Indenture without the consent of any Holder to make any change that does not adversely affect the rights of any Holder in any material respect;

WHEREAS, as set forth in this Supplemental Indenture, the Issuer is undertaking to make amendments to certain specified terms and covenants contained in the Indenture and the Notes, as applicable, that do not adversely affect the rights of any Holder in any material respect; and

WHEREAS, pursuant to Section 9.05 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 Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

1.    CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.    AMENDMENTS TO THE INDENTURE.

Pursuant to Section 9.01(a)(7) of the Indenture, the Issuer and the Trustee hereby agree to amend the Indenture as follows, such amendments to be operative at and from the date of this Supplemental Indenture (the “Amendments”):

a)    The table in Section 3.07(d) of the Indenture will hereby be amended as follows:
	
						
	 
	 
	 
	Redemption Price

	Year
	 
	 
	Dollar
 Notes
	 
	Sterling 
Notes

	2024
	 
	102.7500%
	 
	102.6250%

	2025
	 
	101.3750%
	 
	101.3125%

	2026
	 
	100.6875%
	 
	100.6562%

	2027 and thereafter
	 
	100.0000%
	 
	100.0000%

b)    The “Regular Record Dates” in the Notes, and in the form of the Notes included as Exhibit A to the Indenture, will hereby be amended to replace “May 1 and November 1 immediately preceding the related interest payment date” with:

“One Clearing System Business Day immediately preceding the related Interest Payment Date”.

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3.    CONFORMING CHANGES. In accordance with Section 9.01 of the Indenture, the Issuer and Trustee hereby permit and approve any and all conforming changes to this Supplemental Indenture that may be required to effect the Amendments.

The Issuer and the Trustee, by the execution and delivery of this Supplemental Indenture, hereby permit and approve any and all conforming changes, including conforming amendments to the Notes, the form of the Notes included as Exhibit A to the Indenture and any and all related documents and any and all documents appended thereto that may be required by, or as a result of, the execution of this Supplemental Indenture.

4.    GLOBAL NOTES. Each Global Note, with effect as of the date hereof, shall be deemed to be supplemented, modified and amended in such manner as necessary to make the terms of such Global Note consistent with the terms of the Indenture, as amended by this Supplemental Indenture and giving effect to the Amendments. For the avoidance of doubt, references to the Indenture in each Global Note, and in the form of Global Note included as Exhibit A to the Indenture, shall mean the Indenture, as amended by this Supplemental Indenture and after giving effect to the Amendments.

5.    NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator member or stockholder of the Issuer, the Company, any of its parent companies or any of its Subsidiaries or Affiliates, as such, shall have any liability for any obligations of the Issuer under the Notes or the Indenture or for any claim based on, in respect of, or by reason of, such obligations of their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes.

6.    NEW YORK LAW TO GOVERN. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

7.    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.

8.    EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.

9.    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.

10.    RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURES PART OF INDENTURE. 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 Supplemental Indenture shall form a part of the Indenture for all purposes.

11.    ENTIRE AGREEMENT. This Supplemental Indenture constitutes the entire agreement of the parties hereto with respect to the Amendments.

12.    SUCCESSORS. All covenants and agreements in this Supplemental Indenture by the parties hereto shall bind their successors.

(Signature page to follow)

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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.

	
		
	 
	VIRGIN MEDIA SECURED FINANCE PLC

	 
	 

	 
	 

	 
	By: /s/ Robert D. Dunn                           

	 
	 

	 
	Name: Robert D. Dunn
Title: Director

(Signature page to Supplemental Indenture)

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.

	
		
	 
	VIRGIN MEDIA SECURED FINANCE PLC

	 
	 

	 
	 

	 
	By:                                                      

	 
	 

	 
	Name: 
Title: 

	
		
	BNY MELLON CORPORATE TRUSTEE SERVICES LIMITED

	 
	 

	 
	 

	 
	By: /s/ Michael Lee                          

	 
	 

	 
	Name: Michael Lee
Title: Authorized Signatory

(Signature page to the Supplemental Indenture)Exhibit
10.27

 

	 	7195
                                         Dallas Parkway

Plano,
Texas 75024

Tel:
469-467-5563

 

July
3, 2019

 

 

GWG
DLP Funding IV, LLC

220
South Sixth Street, Suite 1200

Minneapolis,
MN 55402

Attention:
Bill Acheson

Facsimile:
(612) 746-0445

Email:
bacheson@gwglife.com

 

Re:
Delivery of Audited Annual Financial Statements, Quarterly Financial Statements and Filing of Form 10-K Annual Report

 

Gentlemen:

 

Reference
is hereby made to that certain Amended and Restated Loan and Security Agreement (as amended, restated, amended and restated, supplemented
or otherwise modified from time to time, the “Loan Agreement”) made and entered into as of September 27, 2017, among
GWG DLP Funding IV, LLC, a Delaware limited liability company (the “Borrower”), LNV Corporation, a Nevada corporation,
as initial lender (in such capacity, the “Initial Lender”), the financial institutions party thereto as Lenders (together
with the Initial Lender, the “Lenders”), and CLMG Corp., a Texas corporation, as the administrative agent for the
Lenders (in such capacity, the “Administrative Agent”). All capitalized terms used herein and not otherwise defined
herein are used herein as defined in the Loan Agreement.

 

Pursuant
to Section 9.1(d)(i)(y) of the Loan Agreement, the Borrower is required to furnish, or cause to be furnished to the Administrative
Agent and each Lender, as soon as available, and in any event within ninety (90) days after the end of each fiscal year of the
Borrower, a copy of the audited annual balance sheet for such fiscal year of the Borrower or the Parent (so long as such audited
annual balance sheet is on a consolidated basis and includes the Borrower), as at the end of such fiscal year, together with the
related audited statements of earnings, stockholders’ equity and cash flows for such fiscal year, certified by an officer
or director of the Borrower or the Parent (which certification shall state that the related balance sheets and statements fairly
present the financial condition and results of operations for such fiscal year), delivery of which balance sheets and statements
shall be accompanied by a certificate of such officer or director to the effect that no Event of Default or Unmatured Event of
Default has occurred and is continuing. Additionally, pursuant to Section 9.1(d)(i)(x) of the Loan Agreement, the Borrower is
required to furnish to the Administrative Agent and Lender as soon as available and in any event within forty-five (45) days after
the end of each of the first three fiscal quarters of each fiscal year of the Borrower, a copy of the unaudited financial statements
of the Borrower or the Parent (so long as such unaudited financial statements are on a consolidated basis and include the Borrower),
certified by an officer or director of the Borrower or the Parent (which certification shall state that the related balance sheets
and statements fairly present the financial condition and results of operations for such fiscal quarter), delivery of which balance
sheets and statements shall be accompanied by a certificate of such officer or director to the effect that no Event of Default
or Unmatured Event of Default has occurred and is continuing (collectively, the “Deliverables”). As of the
date hereof: the Borrower has failed to furnish, or cause to be furnished to the Administrative Agent and each Lender, the Deliverables
for the fiscal year ending December 31, 2018 and fiscal quarter ending March 31, 2019.

 

     

     

    

 

July
3, 2019

GWG
DLP Unding IV, LLC

Page
2

 

Furthermore,
as of the date hereof, GWG Holdings, Inc. (“Holdings”), the indirect parent entity of the Borrower, has failed
to file its Form 10-K annual report with the Securities and Exchange Commission for the fiscal year ending December 31, 2018.

 

The
undersigned is willing to extend the time period for the Borrower to deliver such Deliverables and for Holdings to file such Form
10-K annual report with the Securities and Exchange Commission until July 15, 2019; provided that subject to the terms and conditions
of the Loan Agreement, the Borrower shall not request and shall not be entitled to receive, and the Lenders shall be under no
obligation to make, any Advances (including, for the avoidance of doubt, Ongoing Maintenance Advances), and the Borrower shall
not be entitled to receive any remaining Available Amounts pursuant to clause “Eleventh” of Section 5.2(b)
of the Loan Agreement, in each case, until the delivery and filing thereof.

 

The
Administrative Agent, on behalf of itself and the Lenders, hereby reserves any and all of its rights, powers, privileges and remedies
under the Loan Agreement and the other Transaction Documents, at law, in equity and otherwise, including, all rights, powers,
privileges and remedies with respect to the Collateral described therein. For avoidance of doubt, this notice is not, and shall
not be deemed to be, and no action, inaction or acquiescence by the Administrative Agent or any of the Lenders shall constitute
a waiver of any such rights, powers, privileges or remedies or a waiver of any Unmatured Event of Default or Event of Default.
This notice shall not entitle the Borrower or any other Person to any other or further notice or demand.

 

This
letter hereby supersedes in its entirety that certain letter dated June 12, 2019 from the Administrative Agent to the Borrower.

 

Please
acknowledge your consent to the foregoing by executing on the following page.

 

     

     

    

 

July
3, 2019

GWG
DLP Unding IV, LLC

Page
3

 

		Sincerely,
	 	 
	 	CLMG
                                         CORP., as Administrative Agent
	 	 	 
	 	By:	/s/
                                         Jacob Cherner
	 	 	Name:	Jacob
                                         Cherner
	 	 	Title:	Chief
                                         Executive Officer

 

	ACKNOWLEDGED
AND AGREED:
	 	 
	GWG
DLP FUNDING IV, LLC, as Borrower
	 	 
	By:	/s/
William B. Acheson	 
	Name:	William
Acheson	 
	Title:	Chief
Financial Officer	 

 

 

[SIGNATURE
PAGE TO NOTICE FROM CLMG CORP. TO GWG DLP FUNDING IV, LLC DATED JULY 3, 2019]

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