Document:

exv4w1

 

Exhibit 4.1

SECOND SUPPLEMENTAL INDENTURE

     SECOND SUPPLEMENTAL INDENTURE, dated as of February 5, 2007 (this “Second Supplemental
Indenture”), among MSW Energy Holdings LLC, a Delaware limited liability company (“MSW”), MSW
Energy Finance Co., Inc., a Delaware corporation (“MSW Finance” and, together with MSW, the
“Company”), MSW Energy Hudson LLC, a Delaware limited liability company (the “Guaranteeing
Subsidiary”), and Wells Fargo Bank, National Association, as successor trustee by merger to Wells
Fargo Bank Minnesota, National Association, trustee under the Indenture referred to below (the
“Trustee”).

W I T N E S S E T H:

     WHEREAS, the Company has duly issued its 81/2% Senior Secured Notes due 2010 (the “Notes”)
pursuant to an Indenture, dated as of June 25, 2003 (the “Initial Indenture”), among the Company
and the Trustee, as supplemented by the Supplemental Indenture thereto (the “Supplemental
Indenture” and, together with the Initial Indenture, the “Indenture”), dated as of July 11, 2003,
among the Company, the Trustee and the Guaranteeing Subsidiary; and

     WHEREAS, the Company and the Guaranteeing Subsidiary desire to enter into this Second
Supplemental Indenture to eliminate from the Indenture substantially all of the covenants and
certain events of default contained therein and make certain other changes therein; and

     WHEREAS, pursuant to Section 9.02 of the Indenture, the Company has obtained the consent of
the Holders of at least a majority in aggregate principal amount of the Notes, the only outstanding
securities issued under the Indenture; and

     WHEREAS, an Officers’ Certificate and an Opinion of Counsel have been delivered to the Trustee
in accordance with Sections 9.02, 9.06 and 14.04 of the Indenture; and

     WHEREAS, all things necessary to make this Second Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, have been done; and

     WHEREAS, on the execution of this Second Supplemental Indenture by the parties hereto, the
provisions hereof will become effective but not operative until the time specified in Section 11
herein.

     NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company, the Guaranteeing Subsidiary and the Trustee, agree as follows:

     1. Deletion of Sections in the Initial Indenture Related to Covenants. The provisions
of each of the following sections and subsections of the Initial Indenture, including any related
cross-references, events of default provisions, defined terms and other references thereto made
irrelevant as a result of their deletion, are hereby deleted in their entirety and replaced with
the phrase “Intentionally Omitted”:

 

 

Section 3.09

Section 4.03

Section 4.04

Section 4.05

Section 4.06

Section 4.07

Section 4.08

Section 4.09

Section 4.10

Section 4.11

Section 4.12

Section 4.13

Section 4.14

Section 4.15

Section 4.16

Section 4.17

Section 4.18

Section 4.19

Section 4.20

Subsection 5.01(4)

Section 5.02.

     2. Deletion of Sections in the Initial Indenture Related to Events of Default. The
provisions of each of the following subsections of Section 6.01 of the Initial Indenture, including
any related cross-references, defined terms and other references thereto made irrelevant as a
result of their deletion, are hereby deleted in their entirety and replaced with the phrase
“Intentionally Omitted”:

Subsection 6.01(3)

Subsection 6.01(4)

Subsection 6.01(5)

Subsection 6.01(6)

Subsection 6.01(7)

Subsection 6.01(8)

Subsection 6.01(9)

Subsection 6.01(10)

Subsection 6.01(11).

     3. Deletion of Sections in the Initial Indenture Related to Legal or Covenant
Defeasance. The provisions of each of the following subsections of Section 8.04 of the
Initial Indenture, including any related cross-references, defined terms and other references
thereto made irrelevant as a result of their deletion, are hereby deleted in their entirety and
replaced with the phrase “Intentionally Omitted”:

Subsection 8.04(2)

Subsection 8.04(3)

2

 

Subsection 8.04(5)

Subsection 8.04(6).

     4. Definitions. Capitalized terms used but not defined in this Second Supplemental
Indenture shall have the meanings ascribed thereto in the Indenture.

     5. Confirmation of the Indenture. The Indenture, as modified, supplemented and
superseded by this Second Supplemental Indenture, is in all respects ratified and confirmed, and
the Indenture and this Second Supplemental Indenture shall be read, taken and construed as one and
the same instrument. (Reference herein to the Indenture shall be deemed to be to the Indenture, as
modified, supplemented and superseded by this Second Supplemental Indenture).

     6. Governing Law. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK
SHALL GOVERN AND BE USED TO CONSTRUE THIS SECOND SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT
TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF
ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     7. Separability. In case any provision in this Second Supplemental Indenture shall for
any reason be held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

     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.

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

     10. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Second Supplemental Indenture or for or in respect
of the recitals contained herein, all of which recitals are made solely by the Company and the
Guaranteeing Subsidiary.

     11. Effectiveness and Operativeness. The provisions of this Second Supplemental
Indenture will become effective upon execution and delivery hereof and will become operative on the
first date that the Company (a) accepts for payment a majority in aggregate principal amount of the
outstanding Notes pursuant to the Offer to Purchase and Consent Solicitation Statement dated
January 23, 2007, as supplemented by the Supplement thereto dated January 31, 2007 and (b) provides
notice of such acceptance to the Trustee.

[Signature Pages Follow]

3

 

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

	 	 	 	 	 
	 	MSW ENERGY HOLDINGS LLC

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 
	 
	 	 	 	 
	 	MSW ENERGY FINANCE CO., INC.

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 
	 
	 	 	 	 
	 	MSW ENERGY HUDSON LLC

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 
	 
	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL

ASSOCIATION, as Trustee

 	 
	 
	 	 	 	 
	 	By:  	/s/ Jane Y. Schweiger
 	 
	 	 	Name:  	Jane Y. Schweiger 	 
	 	 	Title:  	Vice Presidentexv4w2

 

Exhibit 4.2

SECOND SUPPLEMENTAL INDENTURE

     SECOND SUPPLEMENTAL INDENTURE, dated as of February 5, 2007 (this “Second Supplemental
Indenture”), among MSW Energy Holdings II LLC, a Delaware limited liability company (“MSW II”), MSW
Energy Finance Co. II, Inc., a Delaware corporation (“MSW Finance II” and, together with MSW II,
the “Company”), Covanta Ref-Fuel II LLC, a Delaware limited liability company (the “Guaranteeing
Subsidiary”), and Wells Fargo Bank, National Association, as successor trustee by merger to Wells
Fargo Bank Minnesota, National Association, trustee under the Indenture referred to below (the
“Trustee”).

W I T N E S S E T H:

     WHEREAS,
the Company has duly issued its
73/8% Senior Secured Notes due 2010 (the “Notes”)
pursuant to an Indenture, dated as of November 24, 2003 (the “Initial Indenture”), among the
Company and the Trustee, as supplemented by the Supplemental Indenture thereto, dated as of
December 12, 2003 (the “First Supplemental Indenture” and, together with the Initial Indenture, the
“Indenture”), among the Company, the Trustee and the Guaranteeing Subsidiary; and

     WHEREAS, the Company and the Guaranteeing Subsidiary desire to enter into this Second
Supplemental Indenture to eliminate from the Indenture substantially all of the covenants and
certain events of default contained therein and make certain other changes therein; and

     WHEREAS, pursuant to Section 9.02 of the Indenture, the Company has obtained the consent of
the Holders of at least a majority in aggregate principal amount of the Notes, the only outstanding
securities issued under the Indenture; and

     WHEREAS, an Officers’ Certificate and an Opinion of Counsel have been delivered to the Trustee
in accordance with Sections 9.02, 9.06 and 14.04 of the Indenture; and

     WHEREAS, all things necessary to make this Second Supplemental Indenture a valid agreement of
the Company, in accordance with its terms, have been done; and

     WHEREAS, on the execution of this Second Supplemental Indenture by the parties hereto, the
provisions hereof will become effective but not operative until the time specified in Section 11
herein.

     NOW, THEREFORE, in consideration of the mutual agreements and covenants contained herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company, the Guaranteeing Subsidiary and the Trustee, agree as follows:

 

 

     1. Deletion of Sections in the Initial Indenture Related to Covenants. The provisions
of each of the following sections and subsections of the Initial Indenture, including any related
cross-references, events of default provisions, defined terms and other references thereto made
irrelevant as a result of their deletion, are hereby deleted in their entirety and replaced with
the phrase “Intentionally Omitted”:

Section 3.09

Section 4.03

Section 4.04

Section 4.05

Section 4.06

Section 4.07

Section 4.08

Section 4.09

Section 4.10

Section 4.11

Section 4.12

Section 4.13

Section 4.14

Section 4.15

Section 4.16

Section 4.17

Section 4.18

Section 4.19

Section 4.20

Subsection 5.01(4)

Section 5.02.

     2. Deletion of Sections in the Initial Indenture Related to Events of Default. The
provisions of each of the following subsections of Section 6.01 of the Initial Indenture, including
any related cross-references, defined terms and other references thereto made irrelevant as a
result of their deletion, are hereby deleted in their entirety and replaced with the phrase
“Intentionally Omitted”:

Subsection 6.01(3)

Subsection 6.01(4)

Subsection 6.01(5)

Subsection 6.01(6)

Subsection 6.01(7)

Subsection 6.01(8)

Subsection 6.01(9)

Subsection 6.01(10)

Subsection 6.01(11).

2

 

     3. Deletion of Sections in the Initial Indenture Related to Legal or Covenant
Defeasance. The provisions of each of the following subsections of Section 8.04 of the
Initial Indenture, including any related cross-references, defined terms and other references
thereto made irrelevant as a result of their deletion, are hereby deleted in their entirety and
replaced with the phrase “Intentionally Omitted”:

Subsection 8.04(2)

Subsection 8.04(3)

Subsection 8.04(5)

Subsection 8.04(6).

     4. Definitions. Capitalized terms used but not defined in this Second Supplemental
Indenture shall have the meanings ascribed thereto in the Indenture.

     5. Confirmation of the Indenture. The Indenture, as modified, supplemented and
superseded by this Second Supplemental Indenture, is in all respects ratified and confirmed, and
the Indenture and this Second Supplemental Indenture shall be read, taken and construed as one and
the same instrument. (Reference herein to the Indenture shall be deemed to be to the Indenture, as
modified, supplemented and superseded by this Second Supplemental Indenture).

     6. Governing Law. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK
SHALL GOVERN AND BE USED TO CONSTRUE THIS SECOND SUPPLEMENTAL INDENTURE BUT WITHOUT GIVING EFFECT
TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF
ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

     7. Separability. In case any provision in this Second Supplemental Indenture shall for
any reason be held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

     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.

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

     10. The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Second Supplemental Indenture or for or in respect
of the recitals contained herein, all of which recitals are made solely by the Company and the
Guaranteeing Subsidiary.

3

 

     11. Effectiveness and Operativeness. The provisions of this Second Supplemental
Indenture will become effective upon execution and delivery hereof and will become operative on the
first date that the Company (a) accepts for payment a majority in aggregate principal amount of the
outstanding Notes pursuant to the Offer to Purchase and Consent Solicitation Statement dated
January 23, 2007, as supplemented by the Supplement thereto dated January 31, 2007 and (b) provides
notice of such acceptance to the Trustee.

[Signature Pages Follow]

4

 

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

	 	 	 	 	 
	 	MSW ENERGY HOLDINGS II LLC

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 

	 
	 	 	 	 
	 	MSW ENERGY FINANCE CO. II, INC.

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 

	 
	 	 	 	 
	 	COVANTA REF-FUEL II LLC

 	 
	 
	 	 	 	 
	 	By:  	/s/ Mark A. Pytosh
 	 
	 	 	Name:  	Mark A. Pytosh 	 
	 	 	Title:  	Senior Vice President and Chief
Financial
Officer 	 
	 

	 
	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION, as Trustee

 	 
	 
	 	 	 	 
	 	By:  	/s/ Jane Y. Schweiger
 	 
	 	 	Name:  	Jane Y. Schweiger 	 
	 	 	Title:  	Vice President

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