Document:

Exhibit 4.9

 

Execution Version

 

  

 

RELX CAPITAL INC.,

 

as Issuer,

 and

 RELX PLC,

 as Guarantor,

 THE BANK OF NEW YORK MELLON,

 

as Trustee, Principal Paying Agent and Securities Registrar

 EIGHTH SUPPLEMENTAL INDENTURE

 Dated as of September 8, 2018

 to

 INDENTURE

 Dated as of May 9, 1995

 

 

Guaranteed Debt Securities

 

 

 

 

 

 

EIGHTH SUPPLEMENTAL INDENTURE, dated as of September 8, 2018 (“Eighth Supplemental Indenture”), among RELX Capital Inc., a corporation incorporated under the laws of the State of Delaware, as issuer (the “Issuer”), RELX PLC, a public limited company incorporated in England, as guarantor (the “Guarantor”) and The Bank of New York Mellon, as trustee (the “Trustee”), Principal Paying Agent and Securities Registrar.

 

RECITALS

 

WHEREAS, the Issuer, the Guarantor, RELX N.V., a public company with limited liability incorporated under the laws of the Netherlands (“RELX N.V.”), and the Trustee entered into an indenture, dated as of May 9, 1995 (as amended and supplemented, the “Indenture”), providing for the issuance from time to time of the Issuer’s Debt Securities, to be issued in one or more series as provided in the Indenture;

 

WHEREAS, there are presently issued and outstanding under the Indenture $400,000,000 aggregate principal amount of 8.625% Notes due January 15, 2019, $150,000,000 aggregate principal amount of 7.500% Notes due May 15, 2025, €600,000,000 aggregate principal amount of 1.300% Notes due May 12, 2025 and $700,000,000 aggregate principal amount of 3.500% Notes due May 16, 2023 (collectively, the “Existing Notes”), each outstanding series being guaranteed, jointly and severally, by the Guarantor and RELX N.V., and the Trustee has been appointed as trustee for each outstanding series of Existing Notes;

 

WHEREAS, RELX N.V. and the Guarantor entered into the Common Draft Terms of Merger, dated as of May 4, 2018, providing for the merger of RELX N.V. into the Guarantor, with the Guarantor continuing as the surviving entity (the “Merger”), which Merger has become effective as of the date hereof;

 

WHEREAS, Section 801(2) of the Indenture provides that neither Guarantor shall consolidate, merge or amalgamate with, or sell, lease or otherwise dispose of substantially all its assets to any other Person unless such Guarantor is the survivor of such transaction or, if such Guarantor is not the survivor, the survivor of such transaction expressly assumes, by a supplemental indenture that is executed and delivered to the Trustee for each series of Debt Securities, in form reasonably satisfactory to the Trustee, such Guarantor’s obligations under the Guarantees;

 

WHEREAS, Section 901(1) of the Indenture provides that, without the consent of any Holders of Debt Securities, the Issuer and a Guarantor, each when authorized by a Board Resolution, and the Trustee for the Debt Securities, at any time and from time to time, may enter into one or more indentures supplemental to the Indenture in form satisfactory to such Trustee to evidence the succession of another corporation to a Guarantor, and the assumption by any such successor of the covenants of such Guarantor contained in the Indenture and the Guarantees;

 

WHEREAS, the Issuer and the Guarantor have each been authorized by a duly adopted Board Resolution to enter into this Eighth Supplemental Indenture;

 

WHEREAS, the eliminations and changes set forth in this Eighth Supplemental Indenture shall apply to each outstanding series of Existing Notes and each series of Debt Securities issued on or after the date hereof;

 

WHEREAS, the Issuer and the Guarantor have delivered to the Trustee such certificates or opinions as may be required and requested pursuant to the Indenture; and

 

 

 

WHEREAS, all things necessary to make this Eighth Supplemental Indenture a valid agreement of the Issuer and the Guarantor in accordance with its terms have been done and performed.

 

NOW THEREFORE, in consideration of the promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Issuer, the Guarantor and the Trustee hereby mutually covenant and agree as follows:

 

1.            Assumption of Obligations. The Guarantor expressly assumes the obligations of RELX N.V. under the Indenture (including, without limitation, Article Thirteen) and its Guarantees and the performance of every covenant of RELX N.V. set forth in the Indenture and the Guarantees, in each case, as contemplated by Sections 801 and 901(1) of the Indenture.

 

2.            Confirmation of Obligations. The Guarantor confirms that, notwithstanding any other provision of the Indenture or its Guarantees, its obligations under the Indenture and its Guarantees shall remain in full force and effect.

 

3.            Amendments to the Indenture. All references to RELX N.V. in the Indenture (as amended or supplemented to the date hereof, but, for the avoidance of doubt, not including this Eighth Supplemental Indenture), the Existing notes and the Guarantees shall be deemed to be deleted or deemed to refer to the Guarantor, as the context requires.

 

4.            No Event of Default. The Issuer and the Guarantor represent and warrant that immediately before and immediately after giving effect to the Merger, no Event of Default and no event which, after the giving of notice or the lapse of time or both, would become an Event of Default, exist.

 

5.            New York Law to Govern. This Eighth Supplemental Indenture shall be governed by and construed in accordance with the law of the State of New York.

 

6.            Conflict of Any Provision of Indenture with Trust Indenture Act of 1939. If and to the extent that any provision of this Eighth Supplemental Indenture limits, qualifies or conflicts with another provision included in this Eighth Supplemental Indenture or in the Indenture which is required to be included herein or therein by any of Sections 310 to 317, inclusive, of the Trust Indenture Act of 1939, such required provision shall control.

 

7.            Counterparts. This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original but all such counterparts shall together constitute but one and the same instrument.

 

8.            Effect of Eighth Supplemental Indenture. Upon the execution of this Eighth Supplemental Indenture, the Indenture, the Existing Notes and the Guarantees shall be modified in accordance herewith and this Eighth Supplemental Indenture shall form a part of the Indenture for all purposes, and except as herein modified, all the provisions, terms and conditions of the Indenture, the Existing Notes and the Guarantees are in all respects ratified and confirmed and shall remain in full force and effect.

 

9.            The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Eighth Supplemental Indenture, any Guarantees or for or in respect of the recitals contained herein, all of which are made solely by the Issuer and the Guarantor.

 

11.            Defined Terms. Capitalized terms used but not otherwise defined in this Eighth Supplemental Indenture shall have the meanings set forth in the Indenture.

 

 

 

 

[Signature Page Follows]

 

3

 

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

 

 

 

 

	 	
RELX CAPITAL INC.,

as Issuer

	 
	 	 	 	 
	
 

	
By: 

	/s/ Kenneth E. Fogarty	 
	 	 	Name:	Kenneth E. Fogarty	 
	 	 	Title:	
President, Treasurer and

Assistant Secretary

	 
	 	 	 	 

 

	 	
RELX PLC,

as Guarantor

	 
	 	 	 	 
	
 

	
By: 

	/s/ Nick Luff	 
	 	 	Name:	Nick Luff	 
	 	 	Title:	Chief Financial Officer	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Eighth Supplemental Indenture]

 

 

 

 

  

 

	 	
THE BANK OF NEW YORK MELLON,

as Trustee, Principal Paying Agent and Securities

Registrar

	 
	 	 	 	 
	
 

	
By: 

	/s/ Teresa Wyszomierski	 
	 	 	Name:	Teresa Wyszomierski	 
	 	 	Title:	
Vice President

	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to Eighth Supplemental Indenture]Exhibit 4.7

 

Summary of Lease Agreement

Note: this summary does not contain a full or direct translation of the terms of the original Hebrew-language lease agreement, and is designated solely for the purpose of providing a general presentation of such agreement.

On May 3, 2018, Bayside Land Corporation Ltd. (the “Lessor” or “Gav Yam”) and Nova Measuring Instruments Ltd. (the “Company”) entered into a lease agreement, as further elaborated below (the “Lease Agreement”).

	1.	
The Premises

Certain spaces in a building located in the Rehovot Science Park, on Menahem Begin St. (the “Asset”).

Total square meters of the leased premises of approximately 11,714 square meters, which includes 9,764 square meters of office space, research and development and production halls (the “Premises”) and 1,950 square meters for a clean room, as described below, as well as 270 parking spaces  (the “Initial Space”).

	2.	
Purpose of the Lease

The premises are to be used by the Company for its activities in the field of metrology and process control in the semiconductors industry, including for offices, research and development labs and production halls.

	3.	
Leasing Period

An initial lease period of ten years, commencing September 16, 2019 (the “Initial Period”). The Company has the option to extend the lease by up to two consecutive periods of five year each, exercisable upon submitting a written notice six months prior to the expiration of the Initial Period, or the first extension period, as applicable (the “Option”). The Option is exercisable relating to all or part of the leased asset, as determined by the Company.

	4.	
Additional Rights

During the first 12 months of the Initial Period, the Company has the option to lease an additional floor in the Asset (the “Additional Floor”). In addition, the Company has the right of first offer to lease any free space in the Asset (the “Additional Space”). For the Additional Floor and the Additional Space, as the case may be, the Company shall receive an exemption from lease payments and management fees equivalent to payments of up to 6 monthly rates, distributed over the subsequent period of up to five years, commencing on the date that leasehold improvements are completed. Such exemption shall be executed by deduction of 100% of the  lease fee for the first month of the year, and 20% of the monthly lease amount for the second month of the year.

The Company shall have an option, exercisable within six months of signing the Lease Agreement, to lease additional 525 square meters on the ground floor by extending the terms of the Lease Agreement to such space.

The Company has a right of first offer to lease any free parking spaces that become available in the Asset.

During a period of six months following receipt of the Additional Floor or the Additional Space, if and as applicable, the Company shall perform adaptation work under full exemption from its obligations under the Lease Agreement for such months, except for payment of utilities.

 

	5.	
Clean Room

In addition to the Premises, the Lessor is obligated to provide the Company with a separated space of up to 1,950 square meters, adjacent to the Premises, that will be designated for the Company’s clean room and built by the Lessor by May 3, 2021, in accordance with the specifications in the Lease Agreement (the “Clean Room”). During a period of 12 months following the receipt of the Clean Room from the Lessor, the Company shall perform adaptation works under full exemption from its obligations under the Lease Agreement for such months, except for payment of utilities. In the event, that the Lessor will deliver the Clean Room in a manner that will not enable the Company to continuously perform the adaptation work by May 3, 2021, the Company shall be fully exempted from paying any fees to the Lessor pursuant to the Lease Agreement until such time that the Clean Room will be delivered to the Company in such manner that allows the Company to continuously perform the adaptation works.

	6.	
Leasehold Improvements

The Lessor shall participate in the cost of leasehold improvements at a sum of up to NIS 2,200,000, as reimbursement for costs incurred by the Company in performing such improvements. Reimbursement by the Lessor shall be paid upon receipt of tax invoices from the applicable contractors, evidencing the work performed. Improvements are subject to prior approval by the Lessor.

	7.	
Consideration

The monthly lease fee for the first 5 years of the Initial Period shall be NIS 429,616 based on a calculation of NIS 44 per square meter multiplied by Initial Space (the “Base Rental Fee”). The Base Fee is adjustable pursuant to any additional space leased by the Company pursuant to the aforementioned options. The lease fee for the last five years of the Initial Period shall be equal to the Base Rental Fee with the addition of four percent, linked to the Israeli consumer price index.

The monthly lease fee for the first five year option shall be equal to the last monthly fee of the Initial Period with the addition of 2.5%. The monthly lease fee for the second option shall be increased by an additional 2.5%.

The monthly lease fee for the Clean Room shall be up to NIS 146,250 based on a calculation of NIS 75 per square meter.

The Company will be exempt from payment of the monthly lease fee during the first month of the first five years of the Initial Period, and 20% of the monthly payment for the second month of the first five years of the Initial Period.

The Company will pay a monthly fee of NIS 370 per underground parking space and NIS 250 per upper parking space. In the event that the Lessor completes the construction of an additional parking lot, the Company is obligated to lease fifty parking spaces in such parking lot, at a price of NIS 250 for each outdoor parking space and NIS 370 for each roofed parking space, and has the option to lease up to 100 additional parking spaces pursuant to such terms.

	8.	
Guarantees

The Company must provide the Lessor with an autonomous bank guarantee in the amount of  NIS 3,015,904, which is equivalent to six monthly Base Rental Fees, in order to ensure compliance with the Lease Agreement. Upon exercise of the Option, the guaranteed sum will be reduced to the equivalent of 3 applicable monthly fees.

	9.	
Insurance

The Company shall maintain customary insurances. Structure insurance shall be purchased by the Lessor.

 

	10.	
Termination of the Lease Agreement

The Lessor may terminate the Lease Agreement upon the occurrence of (i) use of the premises for purposes other than those stated above; (ii) transfer of lease rights to a third party in contrary to the provisions of the Lease Agreement; (iii) failure to meet monthly payments and fees; (iv) upon liquidation of the Company; (v) non-prevention of a nuisance or compliance with a court order; (vi) failure to return the Premises to the Lessor under the terms of the Lease Agreement; (vii) performing unapproved changes to the Premises (viii) failure to make management fee payments; (ix) change of control of the Company not in accordance with the process set out in the Lease Agreement and (x) failure to provide the requisite bank guarantees (each, a “Material Breach”), if not rectified within 14 days of written notice to the Company regarding such Material Breach. In the event that the Lease Agreement has been terminated due Material Breach of the Company, the Lessor shall be entitled to a pre-determined liquidated penalty fee equal to three applicable monthly rental fees.

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