Document:

Exhibit 4.1

 

FIRST SUPPLEMENTAL INDENTURE

 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of April 28, 2014, among WCI Communities, Inc., a Delaware corporation (the “Company”), the Subsidiary Guarantors (as defined in the Indenture referred to herein) and Wilmington Trust, National Association, as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of August 7, 2013 providing for the issuance of 6.875% Senior Notes due 2021 (the “Securities”);

 

WHEREAS, pursuant to Section 9.01(6) of the Indenture, the Company, the Subsidiary Guarantors and the Trustee are authorized to amend the Indenture and execute and deliver this Supplemental Indenture without notice to or consent of Holders to make any change that would provide any additional rights or benefits (including the addition of collateral) to the Holders or that does not adversely affect in any material respect the legal rights under this Indenture of any such Holders; and

 

WHEREAS, the Company and the Subsidiary Guarantors have authorized the execution and delivery of this Supplemental Indenture and the Trustee has received an Opinion of Counsel and an Officer’s Certificate pursuant to Sections 11.04 and 11.05 of the Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Securityholders 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.  Subject to Section 7 hereof, the following Sections of the Indenture are hereby amended to read as follows and any and all references to such Sections and provisions of the Indenture which are amended and all obligations thereunder are hereby deleted throughout the Indenture, and such Sections and references shall be of no further force or effect:

 

a) Section 10.07(5) of the Indenture is hereby amended and restated in its entirety as follows:

 

“(5)                           [INTENTIONALLY OMITTED]”

 

b) Section 10.07(6) of the Indenture is hereby amended and restated in its entirety as follows:

 

“(6)                           [INTENTIONALLY OMITTED]”

 

 

3.                                      GOVERNING LAW.   THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

4.                                      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.  One signed copy is enough to prove this Supplemental Indenture.  The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or PDF transmissions 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.

 

5.                                      EFFECT OF HEADINGS.  The Section headings herein are 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.

 

6.                                      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 Company and the Subsidiary Guarantors.

 

7.                                      RATIFICATION 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, and every Holder heretofore and hereafter authenticated and delivered shall be bound hereby.

 

 

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.

 

	
 
    	
WCI   COMMUNITIES, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Keith E. Bass
    
	
 
    	
 
    	
Name:   Keith E. Bass
    
	
 
    	
 
    	
Title:   President and Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
GUARANTORS
    
	
 
    	
 
    
	
 
    	
WCI   COMMUNITIES, LLC
    
	
 
    	
WCI   COMMUNITIES MANAGEMENT, LLC
    
	
 
    	
SPECTRUM   EASTPORT, LLC
    
	
 
    	
WCI   COMMUNITIES RIVINGTON, LLC
    
	
 
    	
WCI   TOWERS NORTHEAST USA, INC.
    
	
 
    	
WATERMARK   REALTY REFERRAL, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Keith E. Bass
    
	
 
    	
 
    	
Name:   Keith E. Bass
    
	
 
    	
 
    	
Title:   President and Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PELICAN   LANDING GOLF RESORT
    
	
 
    	
VENTURES, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Keith E. Bass
    
	
 
    	
 
    	
Name:   Keith E. Bass
    
	
 
    	
 
    	
Title:   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WCI   REALTY, INC.
    
	
 
    	
WATERMARK   REALTY, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Russell Devendorf
    
	
 
    	
 
    	
Name:   Russell Devendorf
    
	
 
    	
 
    	
Title:   Vice President and Chief Financial Officer
    

 

[Signature Page to First Supplemental Indenture]

 

 

	
 
    	
WILMINGTON   TRUST, NATIONAL ASSOCIATION,
    
	
 
    	
  as   Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[Signature Page to First Supplemental Indenture]Exhibit 4.45

 

Exclusive Technology Support and Service Agreement

 

THIS AGREEMENT (“this Agreement”) is entered into by and between the two parties below in Beijing on December 10, 2013.

 

Party A: Beijing Perfect World Game Software Co., Ltd.

Address: Room 5465, Building 3, No. 3 Xijing Road, Badachu Hi-tech Park, Shijingshan District, Beijing

 

Party B: Beijing Perfect World Digital Technology Co., Ltd.

Address: A801, Floor 8, Building 1, Yard No. 1 Shangdi East Road, Haidian District, Beijing

 

WHEREAS:

 

(1) Party A is a wholly foreign-owned enterprise incorporated and existing under the laws of the People’s Republic of China (hereinafter referred to as “China”), which is engaged in the R & D and transfer of software technologies, technology consultancy and technology services;

 

(2) Party B is a limited liability company incorporated and existing under Chinese laws, which is engaged in Internet information services; and

 

(3) Party A agrees to render to Party B the technology support and technology services regarding the business operations of telecommunications value-added service platform and Party B agrees to accept Party A as its exclusive technology service provider;

 

NOW, THEREFORE, Party A and Party B, through negotiations, hereby agree as follows:

 

Article 1 Rendering of Services and Sole and Exclusive Interests

 

1.1 Party A agrees to render to Party B, as Party B’s exclusive technology support and service provider, the technology support and technology services relating to its business operations in accordance with the provisions of this Agreement, including, but not limited to:

 

(a) provide technology consulting opinions on the technical questions regarding equipment and software as may be raised by Party B from time to time;

 

(b) be responsible for the ongoing maintenance, debugging and troubleshooting of Party B’s business equipment and software;

 

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(c) based on Party B’s requests that are made from time to time, perform relevant investigations concerning Party B’s technical problems and requirements during operations, acquire relevant data and materials, provide the investigation findings and reports within the time limit required by Party B and also render to Party B (such as, but not limited to) the technical design, schemes, drawings, data, parameters, standards, computer software, programs, databases, technical research results of the same type, reports and materials in connection with technical problems;

 

(d) provide other related technology support and technology services for Party B according to the provisions of this Agreement.

 

1.2 Party B agrees to accept the business consulting services from Party A within the valid term of this Agreement. Party B further agrees not to accept, without Party A’s prior written consent, the business consulting services with respect to the business as stated in this Agreement from any third party (except those determined by Party A) within the term of this Agreement.

 

1.3 Any and all rights, titles, interests and intellectual property rights (including, but not limited to, copyright, patent right, know-how, trade secrets, etc) resulting from the performance of this Agreement, whether development is carried out by Party A independently or on the basis of Party B’s intellectual property rights or by Party B on the basis of Party A’s intellectual property rights, shall belong solely and exclusively to Party A. Party B shall not claim any title, intellectual property right and any other right and interest against Party A.

 

If development is carried out by Party A on the basis of Party B’s intellectual property rights, Party B shall ensure that its intellectual property rights are free of any defect. Otherwise, the losses, if any, caused to Party A shall be borne by Party B.

 

1.4 Party B undertakes that if it intends to engage in any business cooperation with any other enterprise, it shall obtain the prior consent of Party A and under the equal conditions, Party A or any of its affiliates shall be entitled to the cooperation priority right with respect to such business cooperation with Party B.

 

Article 2 Calculation and Payment of Service Fee

 

2.1 Both parties agree that as the consideration of the technology support and technology services rendered by Party A to Party B under Article 1.1 hereof, Party B shall pay a service fee to Party A, which shall be 5%-30% of Party B’s monthly

 

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business income. The amount of service fee shall be determined by both parties based on the following factors:

 

(a) the technical difficulty and complexity of technology support and technology services;

 

(b) the time spent by Party A’s employees on technology support and technology services;

 

(c) the specifics and commercial value of technology support and technology services; and

 

(d) the market reference price of the same type of technology support and technology services.

 

2.2 Party A will summarize service fee on a quarterly basis and inform Party B. Within ten workdays after receiving such notice, Party B shall pay the service fee to the bank account designated by Party A. Where Party B fails to pay the service fee and other expenses pursuant to the provisions of this Agreement, Party B shall pay to Party A a penalty interest on the overdue sum at an annual interest rate of 10%.

 

2.3 If Party A is of the opinion that the service pricing mechanism as set out in this Article becomes inappropriate for whatsoever reason and needs to be adjusted, Party B shall, within seven workdays after receiving the written notice about fee adjustment from Party A, negotiate with Party A actively and in good faith so as to determine the new fee standard or mechanism. Otherwise, Party B shall be deemed as having accepted the service fee adjustment.

 

2.4 The foregoing fee adjustment shall not affect the validity of this Agreement and the performance by both parties of the other obligations under this Agreement.

 

Article 3 Term

 

3.1 The valid term of this Agreement shall last for 20 years as of the effective date hereof. The time of rendering of services will be counted from the effective date of this Agreement.

 

Article 4 Representations and Warranties of both Parties

 

4.1 Party A’s Representations and Warranties

 

4.1.1 Party A is a wholly foreign-owned enterprise incorporated and existing under Chinese laws and with good business records;

 

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4.1.2 Party A has and possesses the technical capability and experience necessary to provide the technology support and technology services as prescribed in this Agreement and guarantees enough consulting forces and personnel to render the business consulting services for Party B;

 

4.1.3 This Agreement shall legally and validly bind upon Party A once it is signed.

 

4.2 Party B’s Representations and Warranties

 

4.2.1 Party B is a limited liability company incorporated and existing under Chinese laws, which is entitled to be engaged in Internet-based business activities;

 

4.2.2 Party B’s business activities do not violate laws, regulations or government policies. Party B acknowledges that Party A has the right to audit its business activities. If Party A reasonably judges that Party B’s business activities have contravened laws, regulations or government policies, it shall be entitled to request Party B to cure such violations in time. Otherwise, Party A is entitled to terminate this Agreement;

 

4.2.3 Party B signs and performs this Agreement within its authority and business scope, has obtained necessary authorization as well as the consents and approvals from third parties or government departments and does not violate the laws, regulations or any contractual restrictions binding upon or influencing it;

 

4.2.4 Within the valid term of this Agreement, Party A is the sole provider of the technology support and technology services under this Agreement rendered to Party B. Without Party A’s written consent, Party B shall not solicit any third party to provide for it the technology support and technology services identical or similar to those as provided by Party A under this Agreement.

 

4.2.5 This Agreement shall legally and validly bind upon Party B once it is signed.

 

Article 5 Intellectual Property Rights and Confidentiality

 

5.1 Any and all intellectual property rights provided by Party A for Party B with respect to the technology support and technology services under this Agreement, including, but not limited to, copyright, patent right, know-how, trade secrets, etc, shall belong solely and exclusively to Party A. Without Party A’s written consent, Party B shall not transfer or license these intellectual property rights to any third party.

 

5.2 Party B shall keep confidential Party A’s confidential data and information made available to or given access to it from the technology support and technology services rendered by Party A (hereinafter referred to as “Confidential Information”). Without

 

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Party A’s written consent, Party B shall not disclose, give or transfer the Confidential Information to any third party. Once this Agreement is terminated, Party B shall return to Party A all documents, materials or software containing the Confidential Information or destroy them according to Party A’s requirements, delete any Confidential Information from all memory devices concerned and not continue to use such Confidential Information. Party B shall cause its employees, agents or consultants to comply with these obligations.

 

5.3 Both parties agree that their respective confidential obligations shall survive the modification or termination of this Agreement until the Confidential Information is or becomes public domain.

 

5.4 Party B undertakes that if it violates the foregoing provisions, it will compensate the losses thus incurred to Party A.

 

Article 6 Claims

 

6.1 Party B shall be fully responsible for any and all claims made by any person due to Party B’s failure to comply with Party A’s instructions or improper use of Party A’s intellectual property rights or inappropriate technical operations. Where Party B finds that any person uses Party A’s intellectual property rights without lawful authorization, Party B shall forthwith notify Party A and assist in any action taken by Party A.

 

Article 7 Premature Termination

 

7.1 Should either party be involved in any of the following situations, this Agreement shall be automatically terminated, i.e. it files a petition for bankruptcy, or is declared to be bankrupt or has a petition for bankruptcy filed, or is insolvent or wound up.

 

7.2 Within the valid term of this Agreement, Party B shall not terminate this Agreement prematurely. Otherwise, Party B shall pay liquidated damages of RMB2 million to Party A and compensate all losses thus incurred to Party A, together with the service fee of the services already completed by Party A. Party A is entitled to terminate this Agreement at any time by giving a written notice 30 days in advance to Party B. Where Party B’s default results in the premature termination of this Agreement by Party A, Party B shall pay liquidated damages of RMB2 million to Party A and compensate all losses thus incurred to Party A.

 

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7.3 Within the valid term of this Agreement, Party A may terminate this Agreement by giving a notice 30 days in advance to Party B.

 

7.4 The termination of this Agreement by either party according to Article 8 shall not affect its other rights under this Agreement.

 

7.5 The rights and obligations of both parties in Articles 5 and 8 shall survive the termination of this Agreement.

 

Article 8 Indemnity

 

8.1 Where Party B violates the provisions of this Agreement, Party B shall compensate Party A’s losses according to Articles 2.2 and 7.2 hereof.

 

8.2 Party B shall indemnify, assist in defending and hold Party A harmless from and against any and all claims, indemnities, liabilities, costs and expenses to be borne by Party A in the lawsuit or proceedings between any indemnitor and any indemnitee or between any indemnitee and any third party arising from or caused by Party B’s violation of its warranties, representations or other provisions under this Agreement.

 

Article 9 Applicable Law and Settlement of Dispute

 

9.1 This Agreement shall be governed by and interpreted in accordance with the laws of the People’s Republic of China.

 

9.2 Any dispute arising from or out of the interpretation or performance of or in connection with this Agreement shall first be settled by both parties through friendly negotiations or mediation. In case no settlement can be reached, such dispute may be referred to Beijing Arbitration Commission for arbitration in accordance with its arbitration rules then in effect. The arbitral award shall be final and binding upon both parties. Arbitration costs shall be borne by the losing party, unless otherwise awarded by the arbitral award.

 

Article 10 Force Majeure

 

10.1 Should the performance of this Agreement be delayed or hindered due to any Event of Force Majeure, the prevented party shall not be liable therefor only to the

 

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extent being delayed or hindered.

 

10.2 An Event of Force Majeure means any event that is beyond the reasonable control of either party and unavoidable or unpreventable after it gives due attention, including, but not limited to, government act, act of nature, war, etc, but insufficiency of credit standing, funds or financing shall not be deemed to be beyond the reasonable control of either party.

 

10.3 The party seeking the exemption from its liabilities under this Agreement or any provision thereof owing to an Event of Force Majeure shall, without undue delay, inform the other party of such exemption and the steps needing to be taken to perform its liabilities. The prevented party may be exempt from its liabilities in so far as it makes all its reasonable endeavors to perform this Agreement, but to the extent being delayed or hindered. Both parties agree to try their best efforts to continue to perform this Agreement once the causes of such exemption are corrected and remedied.

 

Article 11 Transfer

 

11.1 Without Party A’s consent, Party B shall not transfer its rights and obligations under this Agreement to any third party.

 

Article 12 Severability

 

12.1 Should any provision of this Agreement be held invalid or unenforceable by applicable law, such provision shall be invalid or unenforceable only to the extent of such invalidity or unenforceability without invalidating or rendering unenforceable the remainder of this Agreement.

 

Article 13 Amendments and Supplements

 

13.1 This Agreement may be amended or supplemented by a written instrument. All amendments and supplements to this Agreement duly signed by both parties shall form an integral part of this Agreement and have the same legal effect as this Agreement.

 

Article 14 Miscellaneous

 

14.1 This Agreement constitutes the entire agreement between both parties and

 

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supersedes any and all prior agreements, contracts, understandings and communications, whether oral or written, with respect to the subject matter hereof.

 

14.2 This Agreement or any of its annexes attached hereto may not be amended or modified, except by a written instrument signed by the duly authorized representatives of both parties and with the approval of both parties by taking appropriate corporate actions.

 

14.3 Except as otherwise provided for, no failure or delay on the part of either party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof, nor does any single or partial exercise preclude the exercise of any other right, power or privilege.

 

Article 15 Supplementary Provisions

 

15.1 This Agreement is executed in duplicate, with each party hereto holding one (1) copy. Both copies shall be equally authentic. This Agreement shall become effective on and as of the day and year first above written when it is signed by both parties.

 

(Signature page below)

 

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(Signature page, no text below)

 

	
 
    	
 
    	
 
    
	
Party   A:
    	
/s/   Beijing Perfect World Game Software   Co., Ltd.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Party   B:
    	
/s/   Beijing Perfect World Digital Technology   Co., Ltd.
    

 

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