Document:

Exhibit 4.8.1

 

 

DECRANE
AIRCRAFT HOLDINGS, INC.

 

 

THE GUARANTORS
NAMED ON THE SIGNATURE PAGES HEREOF

 

 

and

 

 

U.S. BANK
NATIONAL ASSOCIATION,

 

 

FIRST
SUPPLEMENTAL INDENTURE

 

Dated as of
September 9, 2004

 

 

THIS FIRST
SUPPLEMENTAL INDENTURE (the “Supplemental
Indenture”), is made as of September 9, 2004 between DeCrane
Aircraft Holdings, Inc., a Delaware corporation (the “Company”), each of the Guarantors party
hereto and U.S. Bank National Association, as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company
and the Guarantors executed and delivered an Indenture dated as of July 23,
2004 (the “Indenture”) by and
between the Company, the Guarantors and the Trustee, under which are issued
$127,771,000 aggregate principal amount at maturity of 17% Senior Discount
Notes due 2008 (the “Notes”);

 

WHEREAS, the
Company proposes to issue additional Notes under the Indenture and desires to
execute and deliver an amendment to the Indenture for the purpose of amending
certain of the restrictive covenants contained in the Indenture;

 

WHEREAS,
Section 9.02 of the Indenture provides that the Indenture may be amended,
subject to certain exceptions specified in such Section 9.02, with the consent
of the holders of a majority in aggregate principal amount at maturity of the
Notes at the time outstanding (the “Requisite
Consents”);

 

WHEREAS, the
Company has obtained and delivered to the Trustee the Requisite Consents to
amend the Indenture as set forth in Article 1 of this Supplemental Indenture
(the “Proposed Amendment”);

 

WHEREAS, all
other conditions and requirements necessary to make this Supplemental Indenture
a valid and binding instrument in accordance with its terms and the terms of
the Indenture have been satisfied.

 

NOW,
THEREFORE, in consideration of the mutual agreements, provisions and covenants
contained herein, the Company and the Trustee hereby covenant and agree, for
the equal and proportionate benefit of all holders from time to time of the
Notes as follows:

 

All
capitalized terms used herein and not otherwise defined shall have the meanings
ascribed to them in the Indenture.

 

ARTICLE 1

AMENDMENTS TO CERTAIN PROVISIONS OF INDENTURE

 

Section 1.01.  Amendment
of Certain Provisions of the Indenture.  The Indenture is hereby amended in the following respects:

 

Section 4.07
of the Indenture is hereby amended by adding the following clause:

 

2

 

“(r) the exchange redemption, repurchase,
retirement, defeasance or other acquisition of the Senior Subordinated Notes
from funds and accounts managed by Putnam Investment Management, LLC and its
affiliates in an amount not to exceed $1,425,000.”

 

ARTICLE 2  SUNDRY PROVISIONS

 

Section 2.01.  Effect of Supplemental Indenture.  Upon the execution and delivery of this
Supplemental Indenture by the Company and the Trustee, the Indenture shall be
modified in accordance herewith, and this Supplemental Indenture shall form a
part of the Indenture for all purposes; and every Holder of Notes heretofore or
hereafter authenticated and delivered under the Indenture and any coupons
appertaining thereto shall be bound thereby. 
Upon the execution of this Supplemental Indenture, the Proposed
Amendment shall automatically take effect without the requirement of any
further action by or notice to the Company.

 

Section 2.02.  Indenture Remains in Full Force and Effect.  Except as supplemented hereby, all
provisions in the Indenture shall remain in full force and effect.

 

Section 2.03.  Indenture and Supplemental Indenture Construed
Together.  This Supplemental
Indenture is an indenture supplemental to and in implementation of the
Indenture, and the Indenture and this Supplemental Indenture shall henceforth
be read and construed together.

 

Section 2.04.  Confirmation and Preservation of Indenture.  The Indenture as supplemented by this
Supplemental Indenture is in all respects confirmed and preserved.

 

Section 2.05.  Conflict with Trust Indenture Act.  If any provision of this Supplemental
Indenture limits, qualifies or conflicts with another provision hereof which is
required to be included in this Supplemental Indenture by any of the provisions
of the Trust Indenture Act, such required provision shall control.

 

Section 2.06.  Certain Duties and Responsibilities of the Trustee.  In entering into this Supplemental
Indenture, the Trustee shall be entitled to the benefit of every provision of
the Indenture relating to the conduct or affecting the liability of or
affording protection to the Trustee, whether or not elsewhere herein so
provided.  The Trustee, for itself and
its successor or successors, accepts the terms of the Indenture as amended by
this Supplemental Indenture, and agrees to perform the same, but only upon the
terms and conditions set forth in the Indenture, including the terms and
provisions defining and limiting the liabilities and responsibilities of the
Trustee, which terms and provisions shall in like manner define and limit its
liabilities and responsibilities in the performance of the trust created by the
Indenture.  The Trustee makes no
representations as to the validity or sufficiency of this Supplemental
Indenture other than as to the validity of its execution and delivery by the
Trustee.

 

3

 

Section 2.07.  Effect of Headings.  The Article and Section headings provided
herein are for convenience only and shall not affect the construction hereof.

 

Section 2.08.  Successors and Assigns.  All covenants and agreements in this
Supplemental Indenture by the Company shall bind its successors and assigns,
whether so expressed or not.

 

Section 2.09.  Separability Clause.  In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

 

Section 2.10.  Benefits of Supplemental Indenture.  Nothing in this Supplemental Indenture, the
Indenture, the Securities or the coupons, express or implied, shall give to any
Person, other than the parties hereto, their successors hereunder and the
Holders of Securities and coupons, any benefit or any legal or equitable right,
remedy or claim under this Supplemental Indenture.

 

Section 2.11.  Governing Law.  This Supplemental Indenture shall be governed by and construed in
accordance with the laws of the State of New York.

 

4

 

 

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

 

	
   

  	
  DECRANE AIRCRAFT HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD J. KAPLAN

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Richard J. Kaplan

  
	
   

  	
   

  	
  Title:  

  	
  Senior Vice President, Chief Financial

  Officer, Secretary and Treasurer

  
	
   

  	
   

  
	
   

  	
  AUDIO INTERNATIONAL, INC.

  
	
   

  	
  CARL F. BOOTH & CO., LLC

  
	
   

  	
  DECRANE AIRCRAFT SEATING COMPANY, INC.

  
	
   

  	
  DECRANE CABIN INTERIORS-CANADA, INC.

  
	
   

  	
  DECRANE CABIN INTERIORS, LLC

  
	
   

  	
  HOLLINGSEAD INTERNATIONAL, INC.

  
	
   

  	
  PATS AIRCRAFT, LLC

  
	
   

  	
  PCI NEWCO, INC.

  
	
   

  	
  PRECISION PATTERN, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD
  J. KAPLAN

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Richard J. Kaplan

  
	
   

  	
   

  	
  Title: 

  	
  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  U.S. BANK NATIONAL ASSOCIATION

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CAUNA M. SILVA

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Cauna M. Silva

  
	
   

  	
   

  	
  Title: 

  	
  Vice President

  
										

 

5Exhibit 10.2.1

 

AMENDMENT NO.
1 TO AMENDED AND RESTATED INVESTORS’ AGREEMENT

 

This Amendment
(the “Amendment”)
to the Amended and Restated Investors’ Agreement dated as of October 6, 2000 is
made as of December 31, 2001 among DeCrane Holdings Co. (“the “Company”)
and DeCrane Aircraft Holdings, Inc. (“Opco” as, together with the Company, the “Companies”),
the DLJ Entities (as defined therein), the DLJIP Entities (as defined therein),
the Putnam Entities (as defined therein), and certain other Stockholders named
therein.

 

W I T N E S S E T H :

 

WHEREAS, the
Companies, the DLJ Entities, the DLJIP Entities and the Putnam Entities are
parties to the Amended and Restated Investors’ Agreement dated as of October 6,
2000 (the “Investors’ Agreement”);

 

WHEREAS, the parties
hereto desire to amend the Investors’ Agreement to allow the free transfer by
the DLJIP Entities of the Senior Preferred Stock (as defined in the Investors’
Agreement);

 

NOW,
THEREFORE, intending to be legally bound, the parties hereto agree as follows:

 

Section 1.  Definitions; References.  Unless otherwise specifically
defined herein, each term used herein which is defined in the Investors’
Agreement shall have the meaning assigned to such term in the Investors’
Agreement.  Each reference to “hereof”,
“hereunder”, “herein”, and “hereby” and each other similar reference and each
reference to “this Agreement” and each other similar reference contained in the
Investors’ Agreement shall from and after the date hereof refer to the
Investors’ Agreement as amended hereby.

 

Section 2.  Amendment to Restrictions on Transfer.  Section 3.05(b) of the Investors’
Agreement is amended by the addition of the words “and Senior Preferred Stock”
after the words “Company Securities” and before the word “freely”.

 

Section 3.  Amendment to Restrictions on Transfer.  Section 3.05(c) of the Investors’
Agreement is amended by the addition of the words “and Senior Preferred Stock”
after the words “Company Securities” and before the word “freely”.

 

Section 4.  Governing Law.  This Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York, without regard to the
conflicts of laws rules of such state.

 

 

Section 5.  Counterparts; Effectiveness.  This Amendment may be executed in
any number of counterparts, each of which shall be deemed to be an original,
with the same effect as if the signatures thereto and hereto were upon the same
instrument.  This Amendment shall become
effective when this Amendment or a counterpart hereto shall have been executed
by the Company (with the approval of the board of directors of the Company) and
Stockholders holding at least 75% of the outstanding Shares, calculated on a
Fully Diluted basis.

 

Section 6.  Effect of Amendment.  Except as expressly set forth herein,
the amendments contained herein shall not constitute an amendment of any term
or condition of the Investors’ Agreement, and all such terms and conditions
shall remain in full force and effect and are hereby ratified and confirmed in
all respects.

 

2

 

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

 

	
   

  	
  DECRANE HOLDINGS
  CO.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD
  J. KAPLAN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard J. Kaplan

  
	
   

  	
   

  	
  Title:

  	
  Assistant Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
  DECRANE AIRCRAFT
  HOLDINGS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ RICHARD
  J. KAPLAN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Richard J. Kaplan

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ MERCHANT BANKING PARTNERS II, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ MERCHANT BANKING II, INC. 

  	
   

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ MERCHANT BANKING PARTNERS II-A, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ MERCHANT BANKING II, INC. 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
						

 

3

 

	
   

  	
  DLJ OFFSHORE
  PARTNERS II, C.V.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ MERCHANT BANKING II, INC.

  
	
   

  	
   

  	
  Advisory General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ DIVERSIFIED
  PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ DIVERSIFIED PARTNERS, L.P.

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ DIVERSIFIED
  PARTNERS-A, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ DIVERSIFIED PARTNERS, L.P. 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:Michael Isikow

  
	
   

  	
   

  	
  Title:Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJMB FUNDING II,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
								

 

4

 

	
   

  	
  DLJ EAB PARTNERS,
  L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ LBO PLANS MANAGEMENT 

  	
   

  
	
   

  	
   

  	
  CORPORATION, General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ MILLENNIUM
  PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ MERCHANT BANKING II, INC., 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  UK INVESTMENT PLAN 1997

  PARTNERS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  UK INVESTMENT PLAN 1997, INC., 

  
	
   

  	
   

  	
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ FIRST ESC, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ LBO PLANS MANAGEMENT 

  
	
   

  	
   

  	
  CORPORATION, 

  
	
   

  	
   

  	
  as General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name: 

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
							

 

5

 

	
   

  	
  DLJ ESC II, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ LBO PLANS MANAGEMENT

  
	
   

  	
   

  	
  CORPORATION,

  
	
   

  	
   

  	
  as General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ MILLENNIUM
  PARTNERS-A, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ MERCHANT BANKING II, INC., 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ INVESTMENT
  PARTNERS II, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ INVESTMENT PARTNERS II, INC., 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  	
   

  
	
   

  	
  DLJ INVESTMENT
  PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  DLJ INVESTMENT PARTNERS, INC., 

  
	
   

  	
   

  	
  Managing General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
						

 

6

 

	
   

  	
  DLJ INVESTMENT
  FUNDING II, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL
  ISIKOW

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Michael Isikow

  
	
   

  	
   

  	
  Title:

  	
  Attorney in Fact

  
	
   

  	
   

  
	
   

  	
  PUTNAM HIGH YIELD
  TRUST

  
	
   

  	
  PUTNAM FUNDS TRUST – PUTNAM

  HIGH
  YIELD TRUST II

  
	
   

  	
  PUTNAM HIGH YIELD ADVANTAGE

  FUND  

  
	
   

  	
  PUTNAM VARIABLE TRUST – PUTNAM

  VT HIGH YIELD FUND

  
	
   

  	
  PUTNAM STRATEGIC
  INCOME FUND

  
	
   

  	
  PUTNAM DIVERSIFIED INCOME

  TRUST

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  PUTNAM INVESTMENT

  MANAGEMENT, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ STEPHEN C. PEALHER

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Stephen C. Pealher

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  Chief Investment Officer

  
						

 

7

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