Document:

Prepared by R.R. Donnelley Financial -- EX-4.5

 Exhibit 4.5 
  

 
 SOLARCITY CORPORATION, as Issuer, 

-and- 
 U.S. BANK NATIONAL
ASSOCIATION, as Trustee 
  
  

FOURTH SUPPLEMENTAL INDENTURE 

Dated as of October 15, 2014 

to 
 INDENTURE 

Dated as of October 15, 2014 
  

 
 4.00% Solar
Bonds, Series 2014/4-7 
  
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	ARTICLE 1	  
	DEFINITIONS	  
			
	 SECTION 1.01
	 	Scope of Supplemental Indenture	  	 	2	  
	 SECTION 1.02
	 	Definitions	  	 	2	  
	
	ARTICLE 2	  
	ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES	  
			
	 SECTION 2.01
	 	Title and Terms	  	 	3	  
	 SECTION 2.02
	 	Company Global Securities	  	 	3	  
	 SECTION 2.03
	 	Payments	  	 	4	  
	
	ARTICLE 3	  
	MISCELLANEOUS PROVISIONS	  
			
	 SECTION 3.01
	 	Trustee Acceptance	  	 	4	  
	 SECTION 3.02
	 	Governing Law	  	 	5	  
	 SECTION 3.03
	 	Trust Indenture Act	  	 	5	  
	 SECTION 3.04
	 	Execution in Counterparts	  	 	5	  
	 SECTION 3.05
	 	Severability	  	 	5	  
	 SECTION 3.06
	 	Appointment of Paying Agent and Security Registrar	  	 	5	  
	 SECTION 3.07
	 	Ratification of Original Indenture	  	 	5	  
	
	EXHIBIT	  
		
	 Exhibit A     Form of Note
	  	 	A-1	  

  
 i 

 FOURTH SUPPLEMENTAL INDENTURE, dated as of October 15, 2014 (the “Supplemental
Indenture”), between SolarCity Corporation, a Delaware corporation (hereinafter called the “Company”), having its principal executive office located at 3055 Clearview Way, San Mateo, California, 94402, and U.S. Bank National
Association, a national banking association duly organized and existing under the laws of the United States of America, as trustee (in such capacity, the “Trustee”), to the indenture, dated as of October 15, 2014, between the Company
and the Trustee (as amended or supplemented from time to time in accordance with the terms thereof, the “Original Indenture”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company executed and delivered the Original Indenture to the Trustee to provide, among other things, for the issuance, from time
to time, of the Company’s Securities, unlimited as to principal amount, in one or more series to be established by the Company under, and authenticated and delivered as provided in, the Original Indenture; 

WHEREAS, Section 801(8) of the Original Indenture provides for the Company and the Trustee to enter into a supplemental indenture to the
Original Indenture to provide for the issuance of and establish the forms and terms and conditions of Securities as permitted by Sections 201 and 301 of the Original Indenture; 

WHEREAS, the Board of Directors has duly adopted resolutions authorizing the Company to execute and deliver this Supplemental Indenture; 

WHEREAS, pursuant to the terms of the Original Indenture, the Company desires to establish a new series of its Securities to be known as its
4.00% Solar Bonds, Series 2014/4-7 (the “Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Original Indenture and this Supplemental Indenture; 

WHEREAS, the Form of Note contemplated under the terms of the Notes is to be substantially in the form hereinafter provided; and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make
(i) this Supplemental Indenture a valid instrument in accordance with its terms, and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, in each case, have been
performed, and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 
 NOW, THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the Company and the equal and proportionate benefit of all Holders of the
Notes, as follows: 

 ARTICLE 1 

DEFINITIONS 

SECTION 1.01 Scope of Supplemental Indenture. The changes, modifications and supplements to the Original Indenture effected by
this Supplemental Indenture shall be applicable only with respect to, and shall only govern the terms of (and only the rights of the Holders and the obligations of the Company with respect to), the Notes, which may be issued from time to time, and
shall not apply to any other Securities that may be issued under the Original Indenture (or govern the rights of the Holders or the obligations of the Company with respect to any other such Securities) unless a supplemental indenture with respect to
such other Securities specifically incorporates such changes, modifications and supplements. The provisions of this Supplemental Indenture shall supersede any corresponding or conflicting provisions in the Original Indenture. 

SECTION 1.02 Definitions. For all purposes of the Indenture, except as otherwise expressly provided or unless the context
otherwise requires: 
 (i) the terms defined in this Article 1 shall have the meanings assigned to them in this Article 1 and
include the plural as well as the singular; 
 (ii) all words, terms and phrases defined in the Original Indenture (but not
otherwise defined herein) shall have the same meanings as in the Original Indenture; 
 (iii) all other terms used herein
that are defined in the Trust Indenture Act, either directly or by reference therein, shall have the meanings assigned to them in the Trust Indenture Act; 

(iv) all accounting terms not otherwise defined herein shall have the meanings assigned to them in accordance with generally
accepted accounting principles, and, except as otherwise herein expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles
as are generally accepted at the date of this instrument; and 
 (v) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Company” has the meaning set forth in the first paragraph of this Supplemental Indenture. 

“Form of Note” shall mean the “Form of Note” attached hereto as Exhibit A. 

“Indenture” means the Original Indenture, as originally executed and as supplemented from time to time by one or more indentures
supplemental thereto, including this Supplemental Indenture, entered into pursuant to the applicable provisions of the Indenture, including, for all purposes of this instrument and any such supplemental indenture, the provisions of the Trust
Indenture Act that are deemed to be a part of and govern the Original Indenture and this Supplemental Indenture. 

  
 2 

 “Initial Notes” has the meaning specified in Section 2.01. 

“Interest Payment Date” means February 15 and August 15 of each year, beginning on February 15, 2015. 

“Issue Date” means, with respect to Notes owned by any Holder, the date upon which such Notes were originally issued to such Holder
(or transferor of such Holder), as set forth on the Security Register. 
 “Note” or “Notes” has the meaning specified in
the fourth paragraph of the recitals of this Supplemental Indenture, and shall include any Additional Notes issued pursuant to Section 2.01. 

“Noteholder,” “Holder” or “holder” as applied to any Note, or other similar terms (but excluding the term
“beneficial holder”), means any Person in whose name at the time a particular Note is registered in the Security Register. 

“Original Indenture” has the meaning specified in the first paragraph of this Supplemental Indenture. 

“Regular Record Date” for the interest payable on any Interest Payment Date means the fifteenth day prior to such Interest Payment
Date (whether or not a Business Day). 
 “Stated Maturity” means, with respect to the payment of principal on the Notes,
October 15, 2021. 
 “Supplemental Indenture” has the meaning specified in the first paragraph hereof. 

ARTICLE 2 
 ISSUE,
DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES 
 SECTION 2.01 Title and Terms. There is hereby established a
series of Securities designated the “4.00% Solar Bonds, Series 2014/4-7”. The aggregate principal amount of the Notes shall not be limited and shall be initially authenticated and delivered from time to time upon delivery to the Trustee of
the documents required by Section 303 of the Indenture. The Notes shall be issued only in fully registered form, in denominations of $1,000 and any integral multiples thereof. 

SECTION 2.02 Company Global Securities. The Notes initially shall be represented by one or more permanent Company Global
Securities. The Form of Note shall be substantially as set forth in Exhibit A, which is incorporated into and shall be deemed a part of this Supplemental Indenture, with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by the Indenture, and may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or
as may, consistently herewith, be determined to be necessary or appropriate by the Officers of the Company executing such Notes, as evidenced by their execution of the Notes. 

  
 3 

 SECTION 2.03 Payments. 

The principal amount of Notes then Outstanding shall be payable at the Stated Maturity. Interest on the Notes shall accrue at a rate of
4.00% per annum, from and including the Issue Date with respect to such Notes, or from the most recent date on which interest has been paid or duly provided for with respect to such Notes, to, but excluding, the next Interest Payment Date,
until the principal thereof is paid or made available for payment. Interest shall be payable in arrears on each Interest Payment Date, beginning on February 15, 2015, to the Persons in whose name a Note is registered on the Security Register at
the Close of Business on the Regular Record Date immediately preceding the applicable Interest Payment Date. If any Stated Maturity or Maturity of, or any other day on which a payment is due shall be a day which is not a Business Day, then such
payment may be made on the next succeeding day that is a Business Day with the same force and effect as if made at the Stated Maturity or Maturity or on any such other payment date, as the case may be, and no interest shall accrue on the amount
payable on such date or at such time for the period from and after such Stated Maturity, Maturity or other payment date, as the case may be, to the next succeeding Business Day. Interest will be computed on the basis of twelve 30-day months and a
360-day year. The amount of interest payable for any period shorter than a full quarterly interest period will be computed on the basis of the number of days elapsed in a 90-day quarter of three 30-day months. Up to $10,000,000 aggregate principal
amount of Notes will be authenticated on the date of this Supplemental Indenture (the “Initial Notes”). 
 The Company may,
without the consent of the Holders of the Notes, hereafter issue additional Notes (“Additional Notes”) under the Indenture with the same terms and conditions, except for any difference in the issue price, Issue Date and interest accrued
prior to the issue date of the Additional Notes, as the Initial Notes, in an unlimited aggregate principal amount. Any such Additional Notes shall constitute a single series together with the Initial Notes for all purposes hereunder, including,
without limitation, for purposes of any waivers, supplements or amendments to the Indenture requiring the approval of Holders of the Notes and any offers to purchase the Notes. 

The Company shall pay the principal of and interest on any Note in immediately available funds to the Persons in whose name such Note is
registered in the Security Register, at the office or agency designated by the Company for that purpose. All payments on the Notes will be made in US. Dollars or in such other coin or currency of the United States of America as of the time of
payment is legal tender for the payment of public and private debts. 
 ARTICLE 3 

MISCELLANEOUS PROVISIONS 

SECTION 3.01 Trustee Acceptance. The Trustee has accepted the amendment of the Original Indenture effected by this Supplemental
Indenture and agrees to execute the trust created by the Original Indenture as hereby amended, but only upon the terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and

  
 4 

 
responsibilities of the Trustee, and without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for or with respect of any of the recitals or
statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (a) the validity or sufficiency of this Supplemental Indenture or any of the terms or provisions hereof, (b) the
proper authorization hereof by the Company by corporate action or otherwise, and (c) the due execution hereof by the Company. 

SECTION 3.02 Governing Law. This Supplemental Indenture and the Notes shall be governed by, and construed in accordance with, the
laws of the State of New York. 
 SECTION 3.03 Trust Indenture Act. This Supplemental Indenture will be subject to, and governed
by, the provisions of the Trust Indenture Act that are required to be part of this Supplemental Indenture and shall, to the extent applicable, be governed by such provisions. 

SECTION 3.04 Execution 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 but one and the same instrument. 
 SECTION 3.05
Severability . In case any provision in this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality and enforceability of the remaining provisions shall
not in any way be affected or impaired thereby. 
 SECTION 3.06 Appointment of Paying Agent and Security Registrar. The Company
is hereby appointed to act as Paying Agent and Security Registrar subject to and in accordance with the terms and conditions set forth herein and in the Original Indenture and shall have all of the rights, benefits and immunities of a Paying Agent
and Security Registrar as set forth herein and therein. 
 SECTION 3.07 Ratification of Original Indenture. The Original
Indenture, as supplemented by this Supplemental Indenture, is in all respects ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Original Indenture in the manner and to the extent herein and therein provided. For the
avoidance of doubt, each of the Company and each Holder of the Notes, by its acceptance of such Notes, acknowledges and agrees that all of the rights, privileges, protections, immunities and benefits afforded to the Trustee and the Agents under the
Original Indenture are deemed to be incorporated herein, and shall be enforceable by the Trustee and the Agents hereunder, as if set forth herein in full. 

U.S. Bank, National Association hereby accepts the trusts in this Supplemental Indenture declared and provided, upon the terms and conditions
herein above set forth. 
 [Remainder of the page intentionally left blank] 

  
 5 

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

			
	SOLARCITY CORPORATION
		
	By:	 	 /s/ Brad Buss

		 	Name: Brad Buss
		 	Title: Chief Financial Officer
	
	U.S. BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ K. Wendy Kumar

		 	Name: K. Wendy Kumar
		 	Title: Vice President

 Exhibit A 

Form of Note 

  
 7 

 FORM OF NOTE 

SOLARCITY CORPORATION 
 4.00% SOLAR
BONDS, SERIES 2014/4-7 
 No. [    ] 

SolarCity Corporation, a Delaware corporation (herein called the “Company,” which term includes any successor Person under the
Indenture referred to on the reverse hereof), for value received hereby promises to pay to each of the Holders listed on Schedule A hereto, or their registered assigns, the principal sum set forth next to such Holder’s name on
Schedule A (the aggregate of which principal sums shall not exceed $10,000,000), on October 15, 2021 at the office or agency of the Company maintained for that purpose in accordance with the terms of the Indenture, in such coin or
currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest, semiannually, on February 15 and August 15 of each year (each, an “Interest
Payment Date”), commencing on the Issue Date set forth set forth next to such Holder’s name on Schedule A, on said principal sum at said office or agency, in like coin or currency, at the rate per annum of 4.00%, from and including
the most recent Interest Payment Date in respect of which interest has been paid (or commencing on the Issue Date set forth set forth next to such Holder’s name on Schedule A if no interest has been paid hereon). If any Stated Maturity
or Maturity of, or any other day on which a payment is due shall be a day which is not a Business Day, then such payment may be made on the next succeeding day that is a Business Day with the same force and effect as if made at the Stated Maturity
or Maturity or on any such other payment date, as the case may be, and no interest shall accrue on the amount payable on such date or at such time for the period from and after such Stated Maturity, Maturity or other payment date, as the case may
be, to the next succeeding Business Day. Interest will be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any period shorter than a full quarterly interest period will be computed on the basis of
the number of days elapsed in a 90-day quarter of three 30-day months. 
 Reference is made to the further provisions of this Note set forth
on the reverse hereof. Such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This
Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been manually signed by the Trustee or other duly authorized Authenticating Agent under the Indenture. 

 IN WITNESS WHEREOF, the Company has caused this Note to be duly executed. 

Dated: [    ] 
  

			
	SOLARCITY CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ATTEST:
		
	By	 	  

		 	Name:
		 	Title:

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes referred to in the within-mentioned Indenture. 

U.S. BANK NATIONAL ASSOCIATION as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

 FORM OF REVERSE OF NOTE 

SOLARCITY CORPORATION 
 4.00% SOLAR
BONDS, SERIES 2014/4-7 
 This note is one of a duly authorized issue of notes of the Company, designated as its “4.00% Solar Bonds,
Series 2014/4-7” (herein called the “Notes”), issued under and pursuant to an Indenture, dated as of October 15, 2014 (the “Original Indenture”), between the Company and U.S. Bank National Association, as trustee (in
such capacity, the “Trustee”), as supplemented with respect to the Notes by the Fourth Supplemental Indenture, dated as of October 15, 2014 (the “Supplemental Indenture,” and together with the Original Indenture, the
“Indenture”), between the Company, as issuer, paying agent and security registrar (herein called the “ Paying Agent and Security Registrar”), and the Trustee, as trustee, and as the authenticating agent (herein called the
“Authenticating Agent”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee,
Authenticating Agent, Paying Agent, Security Registrar, the Company and the Holders of the Notes. Capitalized terms used but not otherwise defined in this Note shall have the respective meanings ascribed thereto in the Indenture. 

If an Event of Default (other than an Event of Default specified in clauses (4), (5) or (6) of Section 501 of the Indenture)
occurs and is continuing with respect to the Notes, then the Trustee, or the Holders of not less than 25% in aggregate principal amount of the Notes may declare the principal of all the Notes, and accrued and unpaid interest, if any, and premium, if
any, thereon to be due and payable immediately. If an Event of Default specified in clauses (4), (5) or (6) of Section 501 occurs, then the principal and accrued and unpaid interest, if any, and premium, if any, on all the Notes shall
ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder of the Notes. 

Subject to the provisions of the Indenture, the Holders of not less than a majority in aggregate principal amount of the Notes at the time
Outstanding may, on behalf of the Holders of all of the Notes, waive any past default or Event of Default, subject to exceptions set forth in the Indenture. Upon any such waiver, said default shall for all purposes of this Note and the Indenture be
deemed to have been cured and not to be continuing, but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

The Indenture contains provisions permitting the Company and the Trustee, with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes at the time Outstanding, to execute supplemental indentures to modify provisions of the Indenture, subject to exceptions permitting the modification of the Indenture without the consent of any Holder of Notes
or requiring the consent of each Holder of a Note affected by such modification all as set forth in the Indenture. 
 The Notes are issuable
in fully registered form, without coupons, in denominations of $1,000 principal amount and any integral multiples thereof. The Notes may be exchanged for a like aggregate principal amount of Notes of any other authorized denominations, on the terms
and subject to the conditions and limitations set forth in the Indenture. 

 The Company, the Trustee, Authenticating Agent, Paying Agent and Security Registrar may deem the
Persons in whose name this Note shall be registered upon the Security Register to be, and may treat them as, the absolute owners of this Note with respect to the principal sum set forth opposite such Person’s name on Schedule A hereto
(whether or not amounts under this Note shall be overdue and notwithstanding any notation of ownership or other writing thereon made by any Person other than the Company or any Security Registrar), for the purpose of receiving payment of or on
account of the principal of, and interest on this Note and for all other purposes; and neither the Company or the Trustee nor any Authenticating Agent, Paying Agent or any Security Registrar shall be affected by any notice to the contrary. All such
payments so made to any Holders for the time being, or upon their orders, shall be valid, and, to the extent of the sum or sums so paid, effectual to satisfy and discharge the liability for monies payable upon this Note. 

No recourse for the payment of the principal of or interest on this Note, or for any claim based hereon or otherwise in respect hereof, and no
recourse under or upon any obligation, covenant or agreement of the Company in the Indenture or any supplemental indenture or in any Note, or because of the creation of any indebtedness represented hereby, shall be had against any incorporator,
stockholder, partner, member, manager, employee, agent, officer, director or subsidiary, as such, past, present or future, of the Company or any of the Company’s subsidiaries or of any successor thereto, either directly or through the Company
or any of the Company’s subsidiaries or of any successor thereto, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such
liability is hereby expressly waived and released as a condition of, and as consideration for, the execution of the Indenture and the issue of this Note. 

In the case of any conflict between the provisions of this Note and the Indenture, the provisions of the Indenture shall control. The
Indenture and this Note shall be governed by, and construed in accordance with, the laws of the State of New York. 

 Schedule A 

SOLARCITY CORPORATION 
 4.00% SOLAR
BONDS, SERIES 2014/4-7 
  

					
	 Name of Holder
	  	Principal Amount	  	Issue Date
		  		  	

 Aggregate Principal Amount Outstanding:ex10_1.htm

  

  

  

Exhibit 10.1

Execution Version

Omnibus Amendment No. 1 to

 

Second Amended and Restated Receivables Purchase Agreement

 

and

 

Amended and Restated Purchase and Contribution Agreement

 

AMENDMENT AGREEMENT (this “Amendment”) dated as of October 9, 2014 among Lexmark Receivables Corporation (the “Seller”), Gotham Funding Corporation (“Gotham”), as an Investor, Wells Fargo Bank, N.A. (“Wells Fargo”), as an Investor Agent and a Bank, The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch (“BTMU”), as Program Agent (the “Program Agent”), an Investor Agent and a Bank, Lexmark International, Inc. (“Lexmark”), as Collection Agent and an Originator and Perceptive Software, LLC (“Perceptive”), as an Originator.

 

Preliminary Statements.

 

(1) The Seller, Gotham, BTMU, Wells Fargo, Lexmark and Perceptive are parties to a Second Amended and Restated Receivables Purchase Agreement dated as of October 10, 2013 (as amended, restated, modified or supplemented from time to time, the “RPA”; capitalized terms not otherwise defined herein shall have the meanings attributed to them in the RPA) pursuant to which, and subject to and upon the terms and conditions of which, the Seller has sold and may in the future sell Receivable Interests to the Investors and/or the Banks thereunder prior to the occurrence of the Facility Termination Date or the Commitment Termination Date, as applicable.

 

(2) Lexmark, Perceptive and the Seller are parties to an Amended and Restated Purchase and Contribution Agreement dated as of October 10, 2013 (as amended, restated, modified or supplemented from time to time, the “PCA”) pursuant to which, and subject to and upon the terms and conditions of which, Lexmark and Perceptive have sold and may in the future sell, and Lexmark has contributed and may in the future contribute, Receivables to the Seller thereunder prior to the occurrence of the Facility Termination Date (as defined therein).

 

(3) As of the date hereof, immediately prior to the effectiveness of this Amendment, Fifth Third Bank has assigned all of its rights and obligations (including ownership of each Receivable Interest) as an Investor Agent and a Bank under the RPA to Wells Fargo, pursuant to an Assignment and Acceptance Agreement dated as of the date hereof.

 

(4) The parties hereto desire to make certain amendments to the RPA and the PCA.

 

NOW, THEREFORE, the parties agree as follows:

 

SECTION 1. Amendments to the RPA.  Upon the effectiveness of this Amendment, the RPA is hereby amended as follows:

 

(i) The cover page of the RPA is amended by replacing each reference to “FIFTH THIRD BANK” contained thereon with “WELLS FARGO BANK, N.A.”

 

(ii) The introductory paragraph in the RPA is amended by replacing the reference to “FIFTH THIRD BANK” contained therein with “WELLS FARGO BANK, N.A.”

 

(iii) The definition “Fifth Third Group” contained in Section 1.01 of the RPA is deleted in its entirety.

 

  

  

  

(iv) The RPA is amended by replacing each reference in the RPA (i) to “Fifth Third” (except for each reference thereto in Preliminary Statement (2) in the RPA and the reference thereto in the defined term “Fifth Third” in Section 1.01 of the RPA) with “Wells Fargo” and (ii) to “Fifth Third Group” with “Wells Fargo Group”.

 

(v) The following new definitions are added to Section 1.01 of the RPA in their proper alphabetical order:

 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to Seller, any Originator, Lexmark International or their respective Subsidiaries from time to time concerning or relating to bribery or corruption, including, without limitation, the Foreign Corrupt Practices Act of 1977, as amended, and any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

 

“Deferred Revenue Obligor” means, at any time, any Obligor that has made one or more payments to an Originator that result in (or that should under GAAP result in) a deferred revenue balance on the balance sheets of such Originators as of such time.

 

“Ineligible Deferred Revenue Obligor” means (i) prior to the occurrence of a Level II Downgrade Event, a Deferred Revenue Obligor for whom the aggregate amount of deferred revenue on the balance sheets (or that should be, under GAAP, on the balance sheets) of the Originators is one of the ten highest deferred revenue balances attributable to the Deferred Revenue Obligors at such time, or (ii) following the occurrence of a Level II Downgrade Event, any Deferred Revenue Obligor.

 

“Realized Special Bid Receivable Amount” means, with respect to the Special Bid Receivables of an Obligor (including any Affiliated Obligor thereof) at any time, an amount equal to the average of realized contractual adjustments resulting from special bid marketing programs of an Originator with respect to such Receivables for the immediately preceding twelve month period, as such amount may be adjusted from time to time by the Investor Agents with notice to the Seller, in each case, based on the payment history of the Special Bid Receivables of such Obligor and periodic audits of such Receivables.

 

“Sanctioned Country” means, at any time, a country or territory which is the subject or target of any Sanctions, including, without limitation, on September 12, 2014, Cuba, Burma (Myanmar), Iran, North Korea, Sudan and Syria.

 

“Sanctioned Person” means, at any time, (a) any Person currently the subject or the target of any Sanctions, including any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, and (b) any Person controlled by any such Person.

 

“Sanctions” means economic, financial or other sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or other relevant sanctions authority, including the U.S. and Canada.

 

  

2

  

“Special Bid Receivable” means a Receivable that is subject to contractual adjustments resulting from special bid marketing programs of an Originator.

 

“Special Bid Receivable Adjustment Amount” means, with respect to the Special Bid Receivables of an Obligor (including any Affiliated Obligor thereof) at any time, an amount equal to (a) without duplication, the aggregate outstanding and unapplied contractual adjustments resulting from special bid marketing programs of an Originator relating to such Special Bid Receivables at such time, plus (b) an amount equal to the difference (if positive) between (x) the Realized Special Bid Receivable Amount with respect to such Special Bid Receivables at such time and (y) the amount determined pursuant to the preceding clause (a) of this definition.

 

“Volcker Rule” means Section 13 of the U.S. Bank Holding Company Act of 1956, as amended, and the applicable rules and regulations thereunder.

 

“Wells Fargo” means Wells Fargo Bank, N.A.

 

“Wells Fargo Group” means Wells Fargo, its Investor Agent and each other Related Bank in such Group.

 

(vi) The definition of “Commitment Termination Date” in Section 1.01 of the RPA is amended by replacing the date appearing in clause (a) thereof with the date “October 7, 2016”.

 

(vii) The definition of “Diluted Receivable” in Section 1.01 of the RPA is amended by replacing clause (ii) contained in the proviso at the end thereof with the following:

 

“(ii) do not include contractual adjustments made to Special Bid Receivables resulting from special bid marketing programs of an Originator.”

 

(viii) The definition of “Eligible Receivable” in Section 1.01 of the RPA is amended as follows:

 

	
(a)  

	
by replacing clause (a) thereof with the following:

 

“(a)           the Obligor of which (i) is a United States resident (and shall include without limitation, Government Obligors, state and local governments of jurisdictions located in the United States, or any agency or subdivision thereof) and is not an Affiliate of any of the parties hereto and (ii) is not a Sanctioned Person nor organized or resident in a Sanctioned Country;”;

 

	
(b)  

	
by replacing clause (j) thereof with the following:

 

“(j)           the Obligor of which is not an Ineligible Deferred Revenue Obligor; provided, that the aggregate amount of Receivables of any Ineligible Deferred Revenue Obligor that are otherwise Eligible Receivables in excess of the amount of deferred revenue on the balance sheets (or that should be, under GAAP, on the balance sheets) of the Originators at such time attributable to such Ineligible Deferred Revenue Obligor shall be Eligible Receivables hereunder;”

 

	
(c)   

	
by replacing the period at the end of clause (o) thereof with a semicolon; and

 

 

  

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(d) by adding the following new proviso at the end thereof:

 

“provided, that, with respect to the Special Bid Receivables of any Obligor (including any Affiliated Obligor thereof) that are otherwise Eligible Receivables, only an aggregate amount of such Special Bid Receivables in excess of the Special Bid Receivable Adjustment Amount with respect to such Special Bid Receivables  at such time shall be Eligible Receivables hereunder.”

 

(ix) The definition of “Facility Termination Date” in Section 1.01 of the RPA is amended by replacing the date in clause (a) thereof with the date “October 7, 2016”.

 

(x) The definition of “Special Concentration Excess Amount” in Section 1.1 of the RPA is amended and restated in its entirety to read as follows:

 

“Special Concentration Excess Amount”  means, with respect to a Special Concentration Obligor at any time, the least of (i) the principal credit limit amount for such Special Concentration Obligor set forth in the applicable Insurance Agreement, (ii) the amount set forth on Schedule III hereto with respect to such Special Concentration Obligor (which Schedule III may be amended or modified from time to time at the request of the Seller and with the written approval of the Program Agent and each Investor Agent in their sole discretion), and (iii) the aggregate Loss Reserves for all Receivable Interests calculated as of such time (solely for purposes of this clause (iii), the Loss Reserve for the Receivable Interests shall be calculated using the amount set forth in clause (c) of the definition of Loss Percentage as the “LP” amount for such calculation); provided that the Program Agent or any Investor Agent may reduce or cancel any Special Concentration Excess Amount upon three Business Days’ notice to the Seller (with a copy to each of the other Agents).

 

(xi) The definition of “Yield” in Section 1.1 of the RPA is amended by amending and restating the definition of “ED” contained therein in its entirety to read as follows:

 

“ED           =           the actual number of days elapsed during such Fixed Period (or, if applicable, the actual number of days (which may be one (1)) for which the Assignee Rate is determined)

 

(xii) Each of Section 4.01(e) and Section 4.02(e) of the RPA is amended by (a) replacing each reference therein to “December 31, 2012” with “December 31, 2013” and (b) replacing each reference therein to “June 30, 2013” with “June 30, 2014.”

 

(xiii) Section 4.01 of the RPA is amended by adding the following new clauses (q) and (r) at the end thereof:

 

“(q)           The Seller (i) is not a “covered fund” under the Volcker Rule and (ii) is not, and after giving effect to the transactions contemplated hereby, will not be, required to register as, an “investment company” within the meaning of the Investment Company Act of 1940, as amended, or any successor statute.  In determining that the Seller is not a covered fund, the Seller either does not rely solely on the exemption from the definition of “investment company” set forth in Section 3(c)(1) and/or 3(c)(7) of the Investment Company Act of 1940, as amended or is entitled to the benefit of the exclusion for loan securitizations in the Volcker Rule under 17 C.F.R. 75.10(c)(8).

 

  

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(r)           Policies and procedures have been implemented and maintained by or on behalf of the Seller that are designed to achieve compliance by the Seller and its directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, giving due regard to the nature of such Person’s business and activities, and the Seller and its officers and employees and, to the knowledge of the Seller, its officers, employees, directors and agents acting in any capacity in connection with or directly benefitting from the facility established hereby, are in compliance with Anti-Corruption Laws and applicable Sanctions, in each case in all material respects.  None of the Seller or, to the knowledge of the Seller, any of its directors, officers, employees, or agents that will act in any capacity in connection with or directly benefit from the facility established hereby, is a Sanctioned Person.  The Seller is not organized or resident in a Sanctioned Country.  No Receivables Interests purchased hereunder, amounts paid by the Investors and/or the Banks hereunder to the Seller, or use of proceeds thereof by Seller in any manner, will violate Anti-Corruption Laws or applicable Sanctions.

 

(xiv) Section 4.02 of the RPA is amended by adding the following new clause (i) at the end thereof:

 

“(i)           Policies and procedures have been implemented and maintained by or on behalf of each of the Collection Agent and its Subsidiaries that are designed to achieve compliance by the Collection Agent and its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, giving due regard to the nature of such Person’s business and activities, and each of Collection Agent and its Subsidiaries and their respective officers and employees and, to the knowledge of the Collection Agent, their respective officers, employees, directors and agents acting in any capacity in connection with or directly benefitting from the facility established hereby, are in compliance with Anti-Corruption Laws and applicable Sanctions, in each case in all material respects.  None of (a) the Collection Agent or its Subsidiaries or, to the knowledge of the Collection Agent, any of their respective directors, officers, employees, or agents that will act in any capacity in connection with or directly benefit from the facility established hereby, is a Sanctioned Person, and (b)  the Collection Agent or any of its Subsidiaries is organized or resident in a Sanctioned Country.

 

(xv) Section 5.01 of the RPA is amended by adding the following new clause (w) at the end thereof:

 

“(w)           Policies and procedures will be maintained and enforced by or on behalf of the Seller that are designed in good faith and in a commercially reasonable manner to promote and achieve compliance, in the reasonable judgment of the Seller, by the Seller and its directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, in each case giving due regard to the nature of such Person’s business and activities.  The Seller will not request any purchase hereunder, and shall procure that its directors, officers, employees and agents shall not use the proceeds of any such purchase (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding or financing any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in each case to the extent doing so would violate any Sanctions, or (C) in any other manner that would result in liability to any party hereto under any applicable Sanctions or the violation of any Sanctions by any such Person.

 

  

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(xvi)  Section 6.06 is amended by adding the following new clause (c) at the end thereof:

 

“(c)           Anti-Corruption Laws and Sanctions.  Policies and procedures will be maintained and enforced by or on behalf of each of the Collection Agent and each Originator that are designed in good faith and in a commercially reasonable manner to promote and achieve compliance, in the reasonable judgment of the Collection Agent and each Originator, by the Collection Agent and each Originator and each of their respective Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, in each case giving due regard to the nature of such Person’s business and activities.  The Collection Agent and each Originator shall not use, and each of the Collection Agent and each Originator shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any purchase made hereunder (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding or financing any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in each case to the extent doing so would violate any Sanctions, or (C) in any other manner that would result in liability to any party hereto under any applicable Sanctions or the violation of any Sanctions by any such Person.

 

(xvi) Schedule III to the RPA is amended and restated in its entirety to read as set forth on Schedule III attached hereto.

 

(xvii) Each of Annexes A-1, A-2 and A-3 are revised to take into account the amendments to the definition of Eligible Receivables contained herein.

 

SECTION 2. Amendments to the PCA.  Upon the effectiveness of this Amendment, the PCA is hereby amended as follows:

 

(i) The definition of “Eligible Receivable” in Section 1.01 of the PCA is amended by replacing clause (i) thereof with the following:

 

 “(i)           the Obligor of which (a) is a United States resident (and shall include without limitation, Government Obligors, state and local governments of jurisdictions located in the United States, or any agency or subdivision thereof) and is not an Affiliate of any of the parties hereto and (b) is not a Sanctioned Person nor organized or resident in a Sanctioned Country;”

 

(ii) The definition of “Sale Agreement” contained in Section 1.01 of the PCA is amended by replacing each reference to “Fifth Third Bank” therein with “Wells Fargo Bank, N.A.”.

 

(iii) The following new definitions are added to Section 1.01 of the PCA in their proper alphabetical order:

 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to Purchaser, any Seller, Lexmark International or their respective Subsidiaries from time to time concerning or relating to bribery or corruption, including, without limitation, the Foreign Corrupt Practices Act of 1977, as amended, and any applicable

 

  

6

  

law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

 

“Sanctioned Country” means, at any time, a country or territory which is the subject or target of any Sanctions, including, without limitation, on September 12, 2014, Cuba, Burma (Myanmar), Iran, North Korea, Sudan and Syria.

 

“Sanctioned Person” means, at any time, (a) any Person currently the subject or the target of any Sanctions, including any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, and (b) any Person controlled by any such Person.

 

“Sanctions” means economic, financial or other sanctions or trade embargoes imposed, administered or enforced from time to time by the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or other relevant sanctions authority, including the U.S. and Canada.

 

(iv) Section 4.01 of the PCA is amended by adding the following new clause (r) at the end thereof:

 

“(r)           Policies and procedures have been implemented and maintained by or on behalf of such Seller and its Subsidiaries that are designed to achieve compliance by such Seller and its Subsidiaries, and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, giving due regard to the nature of such Person’s business and activities, and such Seller, its Subsidiaries and their respective officers and employees and, to the knowledge of such Seller, their respective officers, employees, directors and agents acting in any capacity in connection with or directly benefitting from the facility established hereby, are in compliance with Anti-Corruption Laws and applicable Sanctions, in each case in all material respects.  None of (a) such Seller or any of its Subsidiaries or, to the knowledge of such Seller, as applicable, any of their respective directors, officers, employees, or agents that will act in any capacity in connection with or directly benefit from the facility established hereby, is a Sanctioned Person, and (b) such Seller nor any of its Subsidiaries is organized or resident in a Sanctioned Country.  No sale or contribution of Receivables hereunder, amounts paid by the Purchaser hereunder to the Sellers, or use of proceeds thereof by any Seller in any manner will violate Anti-Corruption Laws or applicable Sanctions.

 

(v) Section 5.01 of the PCA is amended by adding the following new clause (o) at the end thereof:

 

“(o)           Anti-Corruption Laws and Sanctions.  Policies and procedures will be maintained and enforced by or on behalf of such Seller that are designed in good faith and in a commercially reasonable manner to promote and achieve compliance, in the reasonable judgment of such Seller, by such Seller and each of its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, in each case giving due regard to the nature of such Person’s business and activities.  Such Seller shall not use, and such Seller shall procure that its Subsidiaries and its or their respective directors, officers, employees and agents shall not use, the proceeds of any purchase or contribution made hereunder (A) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or

 

  

7

  

anything else of value, to any Person in violation of any Anti-Corruption Laws, (B) for the purpose of funding or financing any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, in each case to the extent doing so would violate any Sanctions, or (C) in any other manner that would result in liability to any party hereto under any applicable Sanctions or the violation of any Sanctions by any such Person.

 

SECTION 3. Effectiveness.  This Amendment shall become effective at such time that executed counterparts of this Amendment have been delivered by each party hereto to each other party hereto.

 

SECTION 4. Representations, Warranties and Covenants.

 

(i) The Seller makes each of the representations and warranties contained in Section 4.01 of the RPA (after giving effect to this Amendment).

 

(ii) The Collection Agent makes each of the representations and warranties contained in Section 4.02 of the RPA (after giving effect to this Amendment).

 

(iii) Each Originator makes each of the representations and warranties contained in Section 4.01 of the PCA (after giving effect to this Amendment).

 

SECTION 5. Confirmation of RPA and PCA.

 

(i) Each reference in the RPA to “this Agreement” or “the Agreement” shall mean the RPA as amended by this Amendment, and as hereafter amended or restated.  Except as herein expressly amended, the RPA is ratified and confirmed in all respects and shall remain in full force and effect in accordance with its terms.

 

(ii) Each reference in the PCA to “this Agreement” or “the Agreement” shall mean the PCA as amended by this Amendment, and as hereafter amended or restated.  Except as herein expressly amended, the PCA is ratified and confirmed in all respects and shall remain in full force and effect in accordance with its terms.

 

SECTION 6. GOVERNING LAW.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF).

 

SECTION 7. Execution in Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or by electronic mail in portable document format (.pdf) shall be effective as delivery of a manually executed counterpart of this Amendment.

[Remainder of page intentionally blank]

  

8

  

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers thereunto duly authorized, as of the date first above written.

 

 

LEXMARK RECEIVABLES CORPORATION

 

By:  /s/ Bruce J. Frost                                                                                       

Name: Bruce J. Frost

Title: Vice President and Treasurer

 

LEXMARK INTERNATIONAL, INC.

 

By:  /s/ Bruce J. Frost                                                                                       

Name: Bruce J. Frost

Title: Treasurer

 

PERCEPTIVE SOFTWARE, LLC

 

By:  /s/ Bruce J. Frost                                                                                       

Name:  Bruce J. Frost

Title: Treasurer

 

 

 

[Omnibus Amendment No. 1 to

Second Amended and Restated Receivables Purchase Agreement and

Amended and Restated Purchase and Contribution Agreement]

  

  

  

 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,

as Program Agent

 

By:  /s/ Richard Gregory Hurst                                                                                          

Name: Richard Gregory Hurst

Title: Managing Director

 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,

as an Investor Agent

 

By:  /s/ Richard Gregory Hurst                                                                                          

Name: Richard Gregory Hurst

Title: Managing Director

 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH,

as a Bank

 

By:  /s/ O. Anderssen                                                                                    

Name: O. Anderssen

Title: Director

 

 

GOTHAM FUNDING CORPORATION,

as an Investor

 

By:  /s/ David V. DeAngelis                                                                                             

Name: David V. DeAngelis

Title: Vice President

 

 [Omnibus Amendment No. 1 to

Second Amended and Restated Receivables Purchase Agreement and

Amended and Restated Purchase and Contribution Agreement]

  

  

  

 

WELLS FARGO BANK, N.A.,

as an Investor Agent and a Bank

 

By:  /s/ Ryan C. Tozier                                                                      

Name: Ryan C. Tozier

Title: Vice President

 

 [Omnibus Amendment No. 1 to

Second Amended and Restated Receivables Purchase Agreement and

Amended and Restated Purchase and Contribution Agreement]

  

  

  

SCHEDULE III

Special Concentration Obligors; Special Concentration Excess Amounts

	
Special Concentration Obligor

 

	
Special Concentration Excess Amount*

	
Dell Inc.

	
$25,000,000

	
Synnex Corp.

	
$18,000,000

	
Tech Data Corp.

	
$18,000,000

	
Office Depot, Inc.

	
$23,000,000

	
Staples, Inc.

	
$10,000,000

	
Ingram Micro Inc.

	
$10,000,000

	
United Stationers Supply Co.

	
$15,000,000

          *Subject to the definition of Special Concentration Excess Amount in the Agreement

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