Document:

EX-4.1

 Exhibit 4.1 

EXECUTION COPY 
  

 
 AUXILIUM PHARMACEUTICALS, INC.,

 ENDO INTERNATIONAL PLC 
 AND

 WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Trustee 
 Second Supplemental
Indenture 
 Dated as of January 29, 2015 

to Indenture 
 Dated as of
January 30, 2013 
 1.50% Convertible Senior Notes due 2018 
  

 

 SECOND SUPPLEMENTAL INDENTURE dated as of January 29, 2015 (this “Supplemental
Indenture”), among Auxilium Pharmaceuticals, Inc., a Delaware corporation (the “Company”), Endo International plc, a public limited company incorporated under the laws of Ireland (“Endo”), and Wells Fargo
Bank, National Association, a national banking association, as trustee (the “Trustee”), supplementing the Indenture, dated as of January 30, 2013 (the “Base Indenture”), as supplemented by the First
Supplemental Indenture, dated as of January 30, 2013 (the “First Supplemental Indenture,” and together with the Base Indenture, the “Indenture”), between the Company and the Trustee. 

W I T N E S S E T H: 

WHEREAS, the Company and the Trustee are parties to the Indenture, pursuant to which the Company issued its 1.50% Convertible Senior Notes due
2018 (each, a “Note” and, collectively, the “Notes”); 
 WHEREAS, the Company entered into the Amended and
Restated Agreement and Plan of Merger, dated as of November 17, 2014 (the “Merger Agreement”), by and among the Company, Endo, Endo U.S. Inc., a Delaware corporation and an indirect wholly owned subsidiary of Endo
(“HoldCo”), and Avalon Merger Sub Inc., a Delaware corporation and a direct wholly owned subsidiary of HoldCo (“Merger Sub”); 

WHEREAS, pursuant to the Merger Agreement and subject to the terms and conditions therein, Merger Sub will merge with and into the Company
(the “Merger”) and the Company will continue as a direct wholly owned subsidiary of HoldCo and an indirect wholly owned subsidiary of Endo; 

WHEREAS, pursuant to the Merger Agreement and subject to the terms and conditions therein, at the effective time of the Merger, each share of
common stock, par value $0.01 per share, of the Company (each a “Company Share” and, collectively, the “Company Shares”) issued and outstanding immediately prior to the effective time of the Merger (other than
Excluded Shares (as defined in the Merger Agreement)) will be converted into the right to receive: (1) for each Company Share for which a Standard Election (as defined in the Merger Agreement) has been made, $16.625 in cash and 0.2440 ordinary
shares of $0.0001 each of Endo (“Endo Shares”), (2) for each Company Share for which a Cash Election (as defined in the Merger Agreement) has been made, $33.25 in cash or (3) for each Company Share for which a Stock
Election (as defined in the Merger Agreement) has been made, 0.4880 Endo shares, subject to proration pursuant to Section 2.1(g) of the Merger Agreement; 

WHEREAS, as a result of the Merger, Section 9.07(a) of the First Supplemental Indenture provides that the Company shall execute a
supplemental indenture with the Trustee providing that, at and after the effective time of the Merger, a Holder’s right to convert a Note into cash and/or shares of Common Stock shall be changed into a right to convert such Note into cash
and/or units of Reference Property; 
 WHEREAS, as a result of the Merger, Section 9.07(a) of the First Supplemental Indenture provides
that the amount and kind of Reference Property into which the Notes will be convertible shall be the weighted average of the types and amounts of consideration received by the holders of Common Stock that affirmatively make a Standard Election, Cash
Election or Stock Election (the “Weighted Average Merger Consideration”); 

  
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 WHEREAS, as a result of the elections affirmatively made by the holders of Common Stock in
connection with the Merger, the Weighted Average Merger Consideration attributable to one share of Common Stock consists of (i) $9.88 in cash and (ii) 0.3430 Endo Shares; and 

WHEREAS, all conditions for the execution and delivery of this Supplemental Indenture have been complied with or have been done or performed.

 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, it is mutually agreed, for the equal proportionate benefit of all Holders of the Notes, as follows: 
 ARTICLE 1 

DEFINITIONS 
 Section 1.01
General. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Indenture. 
 ARTICLE 2 

AGREEMENTS OF PARTIES 

Section 2.01 Conversion of Notes. In accordance with Section 9.07(a) of the First Supplemental Indenture, from and after the
date of this Supplemental Indenture, the right to convert each $1,000 principal amount of Notes into cash and/or Common Stock is hereby changed, effective as of the date hereof, to a right to convert such $1,000 principal amount of Notes into cash
and/or units of Reference Property. As a result of the elections affirmatively made by the holders of Common Stock in connection with the Merger, a unit of Reference Property, calculated in accordance with Section 9.07 of the First Supplemental
Indenture, is (i) $0.3430 in cash and (ii) 9.88 Endo Shares; provided, however, that (A) the Company shall continue to have the right to determine the form of consideration to be paid or delivered, as the case may be, upon conversion
of Notes in accordance with Section 9.02 of the First Supplemental Indenture and (B) (I) any amount payable in cash upon conversion of the Notes in accordance with Section 9.02 of the First Supplemental Indenture shall continue
to be payable in cash, (II) any shares of Common Stock that the Company would have been required to deliver upon conversion of the Notes in accordance with Section 9.02 of the First Supplemental Indenture shall instead be deliverable in
units of Reference Property and (III) the Daily VWAP shall be calculated based on the value of a unit of Reference Property (including the Endo Shares included therein). The provisions of the Indenture, as modified herein, including without
limitation, (i) all references and provisions respecting the terms “Common Stock,” “Conversion Price” and “Conversion Rate,” and (ii) the provisions of Section 9.01(b) of the First Supplemental Indenture
respecting when a Holder of Notes may surrender its Notes for conversion, shall continue to apply, mutatis mutandis, to the Holders’ right to convert each Note into the Reference Property. 

  
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 Section 2.02 Adjustments to Conversion Rate. As and to the extent required by
Section 9.07(a) of the First Supplemental Indenture, the Conversion Rate shall be adjusted as a result of events occurring subsequent to the date hereof with respect to the Reference Property as nearly equivalent as possible to the adjustments
provided for in Article 9 of the First Supplemental Indenture with respect to the Common Stock. 
 Section 2.03 Assumption; Joint
and Several Liability. Endo, as co-obligor, hereby expressly assumes, jointly and severally with the Company, liability for (a) the due and punctual payment of the principal of (and premium, if any, on) and interest, if any (including
Additional Interest, if any), on all of the Notes issued under the Indenture, (b) the due and punctual delivery of Endo Shares and/or cash upon conversion of the Notes upon the exercise by a Holder of the conversion privilege pursuant to
Article 9 of the First Supplemental Indenture and (c) the due and punctual performance and observance of all of the covenants and conditions of the Indenture to be performed by the Company, including without limitation with respect to the right
of Holders to require the Company to purchase their Notes upon a Fundamental Change pursuant to Section 10.01 of the First Supplemental Indenture. 

Section 2.04 Obligations of the Company. Notwithstanding the agreement of Endo to become liable for the due and punctual payment
of the principal of (and premium, if any, on) and interest, if any (including Additional Interest, if any), on all the Notes issued under and subject to the Indenture and for the delivery of Endo Shares and/or cash upon conversion of the Notes
pursuant to Article 9 of the First Supplemental Indenture, the Company remains the issuer of the Notes and fully liable for all of its obligations under the Indenture and has not been released from any liabilities or obligations thereunder except
for the issuance of the Common Stock of the Company upon conversion of the Notes pursuant to Article 9 of the First Supplemental Indenture. 

ARTICLE 3 
 MISCELLANEOUS
PROVISIONS 
 Section 3.01 Effectiveness; Construction. This Supplemental Indenture shall become effective upon its execution
and delivery by the Company, Endo and the Trustee and as of the date hereof. Upon such effectiveness, the Indenture shall be modified in accordance herewith. 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 shall be bound hereby. The Indenture and this Supplemental Indenture shall henceforth be read and construed together. 

Section 3.02 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all provisions in the Indenture shall
remain in full force and effect. 
 Section 3.03 Trustee Matters. The Trustee accepts the Indenture, as supplemented hereby, and
agrees to perform the same upon the terms and conditions set forth therein, as 

  
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supplemented hereby. The Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct or affecting the liability or affording protection to the Trustee,
whether or not elsewhere herein so provided. The recitals contained in this Supplemental Indenture shall be taken as the statements of the Company and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation
as to the validity or sufficiency of this Supplemental Indenture. 
 Section 3.04 Foreign Accounting Tax Compliance Act Matters.
The Company hereby confirms to the Trustee that this Supplemental Indenture has not resulted in a material modification of the Notes for Foreign Accounting Tax Compliance Act (“FATCA”) purposes. The Company shall give the Trustee prompt
written notice of any material modification of the Notes deemed to occur for FATCA purposes. The Trustee shall assume that no material modification for FATCA purposes has occurred regarding the Notes, unless the Trustee receives written notice of
such modification from the Company. 
 Section 3.05 Effect of Headings. The Article and Section headings herein have been
inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

Section 3.06 Successors and Assigns. All the covenants, stipulations, promises and agreements of the Company and Endo in this
Supplemental Indenture shall bind their respective successors and assigns whether so expressed or not. 
 Section 3.07 Severability
Clause. If any provision in this Supplemental Indenture is deemed invalid, illegal or unenforceable, it shall not affect the validity, legality or enforceability of any other provision set forth herein or of the Indenture as a whole. 

Section 3.08 Benefits of the Indenture. Nothing in this Supplemental Indenture, express or implied, shall give to any Person,
other than the Holders, the parties hereto and their successors hereunder, any benefit or any legal or equitable right, remedy or claim under the Indenture, as supplemented hereby. 

Section 3.09 Governing Law; Jurisdiction. This Supplemental Indenture shall be governed by, and construed in accordance with, the
internal laws of the State of New York, without regard to conflict of law principles that would result in the application of any law other than the laws of the State of New York. 

Section 3.10 Supplemental Indenture May Be Executed in Counterparts. This Supplemental Indenture may be executed in any number of
counterparts, each of which shall be an original, but such counterparts shall together constitute one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmission 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. 

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

					
	AUXILIUM PHARMACEUTICALS, INC.
		
	By:		 /s/ Adrian Adams

			Name:		Adrian Adams
			Title:		CEO and President
	
	ENDO INTERNATIONAL PLC
		
	By:		 /s/ Orla Dunlea

			Name:		Orla Dunlea
			Title:		Company Secretary
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:		 /s/ Martin Reed

			Name:		Martin Reed
			Title:		Vice President

 [Signature page to Second Supplemental Indenture]Exhibit 4.1

 

FOURTH SUPPLEMENTAL INDENTURE

 

FOURTH SUPPLEMENTAL INDENTURE, dated as of January 29, 2015 (this “Fourth Supplemental Indenture”), among Albemarle Corporation, a Virginia corporation (the “Company”), whose principal office is located at 451 Florida Street, Baton Rouge, Louisiana 70801, Rockwood Holdings, Inc. (as successor by merger to Albemarle Holdings Corporation), a Delaware corporation (“Holdings”), whose principal office is located at 451 Florida Street, Baton Rouge, Louisiana 70801, Rockwood Specialties Group, Inc. (as successor by merger to Albemarle Holdings II Corporation), a Delaware corporation (“RSGI” and, together with Holdings, the “Guarantors” and each, a “Guarantor”), whose principal office is located at 451 Florida Street, Baton Rouge, Louisiana 70801, The Bank of New York Mellon Trust Company, N.A., a national banking association, as successor to The Bank of New York (the “Resigning Trustee”), and U.S. Bank National Association, as successor trustee (the “Successor Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company and The Bank of New York have duly executed and delivered an Indenture, dated as of January 20, 2005 (as amended and supplemented, the “Indenture”), providing for the authentication, issuance, delivery and administration of unsecured notes, debentures or other evidences of indebtedness to be issued in one or more series by the Company; and

 

WHEREAS, the Company issued its 4.50% Senior Notes due 2020 (the “Notes”) on December 10, 2010, pursuant to the Indenture and the second supplemental indenture, dated as of December 10, 2010, between the Company and the Resigning Trustee; and

 

WHEREAS, each of the Guarantors desires to provide a Guarantee with respect to the Notes; and

 

WHEREAS, the Resigning Trustee intends to resign as Trustee of the Notes and the Company desires to appoint the Successor Trustee as Trustee with respect to the Notes; and

 

WHEREAS, the Resigning Trustee has not resigned as Trustee of the Company’s 5.10% Senior Notes due 2015 (the “2015 Notes”); and

 

WHEREAS, in the case of the appointment of a successor Trustee with respect to one or more (but not all) series of Securities under the Indenture, Section 6.11 of the Indenture provides for a retiring Trustee and any successor Trustee to enter into an indenture supplemental to the Indenture providing for such items as are set forth in such Section 6.11; and

 

WHEREAS, the Resigning Trustee intends to resign as Trustee under the Indenture, such resignation to be effective upon the maturity of the 2015 Notes and the payment by the Company of all sums payable by the Company under the Indenture with respect thereto and the Company desires to appoint the Successor Trustee as Trustee under the Indenture; and

 

WHEREAS, Section 9.01 of the Indenture expressly permits the Company and the Trustee, subject to certain conditions, to enter into one or more supplemental indentures for the purposes, inter alia, of adding to, changing or eliminating any of the provisions of the Indenture in respect of one or more series of Securities, and permits the execution of such supplemental indentures without the consent of the Holders of any Securities then outstanding; and

 

  

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WHEREAS, for the purposes recited above, and pursuant to due corporate action, the Company and each of the Guarantors have duly determined to execute and deliver to the Resigning Trustee and the Successor Trustee this Fourth Supplemental Indenture; and

 

WHEREAS, all conditions and requirements necessary to make this Fourth Supplemental Indenture a valid instrument in accordance with its terms have been done and performed, and the execution and delivery hereof have been in all respects duly authorized.

 

NOW, THEREFORE, in consideration of the premises, the Company, the Guarantors, the Resigning Trustee and the Successor Trustee mutually covenant and agree as follows:

 

ARTICLE 1. DEFINITIONS.

 

1.1         All terms contained in this Fourth Supplemental Indenture shall, except as specifically provided herein or except as the context may otherwise require, have the meanings given to such terms in the Indenture.

 

ARTICLE 2. THE TRUSTEE.

 

2.1         Resignation of Trustee of the Notes.  The Resigning Trustee hereby resigns as Trustee, Paying Agent and Security Registrar under the Indenture with respect to the Notes.

 

2.2         Appointment of Replacement Trustee.  The Company hereby appoints U.S. Bank National Association to act as Trustee, Paying Agent and Security Registrar under the Indenture with respect to the Notes and U.S. Bank National Association hereby accepts such appointment, together with all rights, powers, privileges, benefits, duties, trusts and obligations associated with such appointment. With respect to the Notes, references in the Indenture to “Corporate Trust Office” mean the corporate trust office of the Successor Trustee, which, at the time of the execution of this Fourth Supplemental Indenture, is located at 333 Commerce Street, Suite 800, Nashville, Tennessee 37201; facsimile:  (615) 251-0737.

 

2.3         Transfer of Interest. All rights, powers, trusts and duties of the Resigning Trustee with respect to the Notes are hereby transferred, confirmed to and vested in the Successor Trustee. The Resigning Trustee hereby confirms that it holds no property or money under the Indenture with respect to the Notes. Upon request of the Successor Trustee, the Company shall execute any and all instruments as the Successor Trustee may reasonably require so as to more fully and certainly vest and confirm in the Successor Trustee all the rights, powers and trusts hereby assigned, transferred, delivered and confirmed to the Successor Trustee as Trustee, Paying Agent and Security Registrar with respect to the Notes.

 

2.4         Confirmation with Respect to the 2015 Notes.  The Company hereby confirms that all the rights, powers, trusts and duties of the Resigning Trustee as Trustee under the Indenture with respect to the 2015 Notes, as to which the Resigning Trustee is not retiring, shall continue to be vested in the Resigning Trustee.

 

  

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2.5         No Co-Trustees.  Nothing herein shall constitute the Resigning Trustee and the Successor Trustee co-trustees of the same trust and each of the Resigning Trustee and the Successor Trustee shall be trustee of a trust under the Indenture separate and apart from any trust administered by the other trustee.

 

2.6         Resignation as Trustee under the Indenture.  The Resigning Trustee hereby resigns as Trustee, Paying Agent and Security Registrar under the Indenture, subject to those rights of the Trustee under the Indenture which by their terms survive the discharge of the Indenture and the resignation or removal of the Trustee.  Such resignation shall be effective upon the maturity of the 2015 Notes and the payment by the Company of all sums payable under the Indenture with respect to the 2015 Notes, and upon such payment and at the request of the Company, the Resigning Trustee shall execute an instrument acknowledging payment of such sums with respect to the 2015 Notes.

 

2.7         Appointment as Trustee under the Indenture. The Company hereby appoints U.S. Bank National Association to act as Trustee, Paying Agent and Security Registrar under the Indenture and U.S. Bank National Association hereby accepts such appointment, together with all rights, powers, privileges, benefits, duties, trusts and obligations associated with such appointment.  Such appointment and acceptance shall be effective immediately upon the effectiveness of the resignation of the Resigning Trustee as set forth in Section 2.6, without further act, deed or conveyance.

 

ARTICLE 3. AMENDMENT OF TERMS OF THE INDENTURE WITH RESPECT TO THE NOTES.

 

The following amendments to the Indenture in this Article 3 shall apply to the Notes:

 

3.1         Definitions.  Section 1.02 of the Indenture is hereby amended to add in its appropriate alphabetical sequence the following definitions:

 

““Guarantee” means any guarantee of a Guarantor endorsed on a Security authenticated and delivered pursuant to this Indenture and shall include the Guarantees by a Guarantor set forth in any supplemental indenture hereto or Officers’ Certificate in accordance with Section 3.01.”

 

““Guarantor” means the Person(s) named as a “Guarantor” in the applicable indenture supplemental to the Indenture or Officers’ Certificate pursuant to Section 3.01 of the Indenture until a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “Guarantor” shall mean such successor Person.”

 

ARTICLE 4. GUARANTEES

 

The provisions of this Article 4 shall apply to the Notes.

 

4.1          Guarantee.  (a)  Each Guarantor hereby fully and unconditionally guarantees to each Holder of the Notes and to the Trustee for itself and on behalf of each such Holder, the due and punctual payment of the principal of (and premium, if any, on) and interest (including, in case of default, interest on principal and, to the extent permitted by applicable law, on overdue interest and including any additional interest required to be paid according to the terms of the Notes), if any, on each such Note, when and as the same shall become due and payable, whether at Maturity of the Notes, upon redemption, upon acceleration, upon tender for repayment at the option of any Holder or otherwise, according to the terms thereof and of the Indenture (the “Guarantor Obligations”). In case of the failure of the Company or any successor thereto punctually to pay any such principal, premium or interest payment, each such Guarantor hereby agrees to cause any such payment to be made punctually when and as the same shall become due and payable, whether at Maturity of the Notes, upon redemption, upon declaration of acceleration, upon tender for repayment at the option of any Holder or otherwise, as if such payment were made by the Company.

 

  

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(b)           Each Guarantor hereby agrees that its Guarantor Obligations hereunder shall be as if it were principal debtor and not merely surety and shall be absolute and unconditional, irrespective of the identity of the Company, the validity, regularity or enforceability of the Notes or the Indenture, the absence of any action to enforce the same, any waiver or consent by the Holder of any Note with respect to any provisions thereof, the recovery of any judgment against the Company or any action to enforce the same, or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenants that its Guarantee with respect to the Notes will not be discharged except by complete performance of its obligations contained in the Notes and in this Guarantee.

 

(c)           Each Guarantor hereby agrees that, in the event of a default in payment of principal or premium, if any, or interest on the Notes, whether at Maturity, by acceleration, purchase or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holder of any Note, subject to the terms and conditions set forth in this Supplemental Indenture, directly against each such Guarantor to enforce its Guarantee without first proceeding against the Company.

 

(d)           If any Holder or the Trustee is required by any court or otherwise to return to the Company or any Guarantor, or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or any Guarantor, any amount paid in respect of a Note by any of them to the Trustee or such Holder, this Guarantee, to the extent theretofore discharged, shall be reinstated in full force and effect.

 

(e)           This Guarantee shall remain in full force and effect and continue to be effective should any petition be filed by or against the Company for liquidation, reorganization, should the Company become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the Company’s assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of any Note are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on any Note, whether as a “voidable preference”, “fraudulent transfer” or otherwise, all as though such payment or performance had not been made. In the event that any payment or any part thereof is rescinded, reduced, restored or returned, any Note shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned.

 

  

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4.2         Severability. In case any provision of this Guarantee 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.

 

4.3         Priority of Guarantee. This Guarantee shall be an unsecured and unsubordinated obligation of each Guarantor, ranking pari passu with all other existing and future unsubordinated and unsecured indebtedness of the Company and each such Guarantor, respectively.

 

4.4         Limitation of Guarantors’ Liability. Each Guarantor and by its acceptance hereof each Holder confirms that it is the intention of all such parties that this Guarantee does not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions of its local law relating to fraudulent transfer or conveyance. To effectuate the foregoing intention, the Holders and each Guarantor hereby irrevocably agree that the obligations of each such Guarantor under this Guarantee shall be limited to the maximum amount that will not, after giving effect to all other contingent and fixed liabilities of each such Guarantor, result in the obligations of such Guarantor under this Guarantee constituting such fraudulent transfer or conveyance.

 

4.5         Subrogation. Each Guarantor shall be subrogated to all rights of Holders of the Notes against the Company in respect of any amounts paid by any such Guarantor on account of such Notes or the Indenture; provided, however, that, if an Event of Default has occurred and is continuing, each Guarantor shall not be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due and payable by the Company under the Indenture or the Notes shall have been paid in full.

 

4.6         Reinstatement. Each Guarantor hereby agrees that its Guarantee provided for in Section 4.1 shall continue to be effective or be reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligations or interest thereon is rescinded or must otherwise be restored by a Holder to the Company upon the bankruptcy or insolvency of the Company or such Guarantor. Subject to the preceding sentence, once released in accordance with its terms and the Indenture, a Guarantee shall not be required to be reinstated for any reason.

 

4.7         Release of Guarantor. (a)   Concurrently with the discharge of the Notes under Section 4.01 of the Indenture or the defeasance of the Notes under Sections 13.02 or 13.03 of the Indenture, each Guarantor shall be released from all its obligations under its Guarantee with respect to the Notes under the Indenture.

 

(b)           So long as no Default exists or upon the occurrence of the following events, with notice or lapse of time or both, would exist, this Guarantee and any Liens securing this Guarantee shall be automatically and unconditionally released and discharged:

 

(i)           upon any sale, exchange or transfer to any Person that is not an Affiliate of the Company of all of the Company’s Capital Stock in a Guarantor, which transaction is otherwise in compliance with the Indenture.

 

(ii)           upon any consolidation or merger of a Guarantor with or into the Company or another Guarantor, which transaction is otherwise in compliance with the Indenture.

 

  

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(iii)           upon the redemption, defeasance, retirement or any other discharge in full of the 4.625% Senior Notes due 2020 issued by RSGI.

 

(c)           Upon written instruction from the Company, the Trustee shall execute and deliver any documents, instructions or instruments evidencing any release of a Guarantee.

 

4.8         Benefits Acknowledged. Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and that its guarantee and waivers pursuant to the Guarantee are knowingly made in contemplation of such benefits.

 

ARTICLE 5. MISCELLANEOUS.

 

5.1         Ratification of Indenture.  The Indenture, as supplemented by this Fourth Supplemental Indenture, is in all respects ratified and confirmed, and this Fourth Supplemental Indenture shall be deemed a part of the Indenture in the manner and to the extent herein and therein provided.

 

5.2         Governing Law.  This Fourth Supplemental Indenture and each Guarantee shall be governed by, and construed in accordance with, the laws of the State of New York.

 

5.3         Counterparts.  This Fourth Supplemental Indenture may be executed in several counterparts, each of which shall be an original, and all collectively but one and the same instrument.

 

5.4         Effective Date. Except as indicated in the following sentence, this Fourth Supplemental Indenture shall be effective as of the date hereof. Notwithstanding the preceding sentence, the appointment and acceptance of the Successor Trustee with respect to the Notes effected hereby shall be effective as of the opening of business on February 9, 2015.

 

5.5         The Resigning Trustee and the Successor Trustee.  Neither the Resigning Trustee nor the Successor Trustee shall be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Fourth Supplemental Indenture or for or in respect of the recitals contained herein, all of which are made solely by the Company and the Guarantors (other than with respect to the intention of the Resigning Trustee to resign as set forth in the fourth and seventh recitals hereof, which are made by the Resigning Trustee).  All rights, privileges, protections, indemnities and benefits granted or afforded to the Resigning Trustee and the Successor Trustee, each as Trustee under the Indenture, shall be deemed incorporated herein by this reference and shall be applicable to all actions taken, suffered or omitted by the Resigning Trustee and the Successor Trustee under this Fourth Supplemental Indenture.

 

[Signature page follows]

 

 

 

 

 

  

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

 

 

	 	ALBEMARLE CORPORATION, as Issuer	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ Karen G. Narwold	 
	 	Name:  	Karen G. Narwold	 
	 	Title: 	Senior Vice President, General Counsel,	 
	 	 	
Corporate & Governmental Affairs,

	 
	 	 	Corporate Secretary	 

 

 

	 	
ROCKWOOD HOLDINGS, INC.,

	 
	 	
as Guarantor

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Karen G. Narwold	 
	 	Name:  	Karen G. Narwold	 
	 	Title: 	President, Treasurer and Secretary	 

 

 

	 	

ROCKWOOD SPECIALTIES GROUP, INC.,

	 
	 	
as Guarantor

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	/s/ Karen G. Narwold	 
	 	Name:  	Karen G. Narwold	 
	 	Title: 	President, Treasurer and Secretary	 

 

 

  

  

  

 

	 	

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

	 
	 	
as Resigning Trustee

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ Michael Countryman	 
	 	Name:  	Michael Countryman	 
	 	Title: 	Vice President	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

  

  

  

	 	

U.S. BANK NATIONAL ASSOCIATION,

	 
	 	
as Successor Trustee

	 
	 	 	 	 	 
	 	 	 	 	 
	 	By: 	 /s/ Connie Jaco	 
	 	Name:  	Connie Jaco	 
	 	Title: 	Assistant Vice President

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