Document:

SUPPLEMENTAL INDENTURE

 

Exhibit 4.11

SUPPLEMENTAL INDENTURE

     Supplemental Indenture effective as of January 2, 2004, to the Indenture
dated as of December 22, 1997 (the “Indenture”) between American Lawyer Media
Holdings, Inc. ( “Holdings”) and The Bank of New York, as Trustee. Capitalized
but undefined terms used herein shall have the meanings set forth in the
Indenture.

RECITALS

     WHEREAS, Section 9.02 of the Indenture permits the provisions of the
Indenture providing for the time, place and manner of payment of interest to be
amended with the written consent of each Holder affected;

     WHEREAS, Holdings and Trustee desire to amend certain language contained
in the form of the Discount Note attached as Exhibit B of the Indenture for the
purpose changing the time and manner of payment of interest;

     WHEREAS, the Holders of all the outstanding Discount Notes on the date
hereof have consented in writing to this amendment; and

     WHEREAS, all conditions in Section 9.06 for the amendment of the Indenture
have been satisfied.

     NOW THEREFORE:

SECTION 1. Amendment to the Indenture

             The Indenture is amended by:

(A) The deletion of the form of the note in Exhibit B of the Indenture in its
entirety and its replacement by the form of the note attached hereto;

(B) The deletion of Section 4.08(a)(ii)(B) in its entirety and its
replacement with the following:

used to retire or repay Indebtedness of Holdings and/or any Restricted
Subsidiary that is pari passu with the Discount Notes and to
permanently reduce the amount of such Indebtedness (provided that in
the case of a revolving credit arrangement or similar arrangement that
makes credit available, such commitment is permanently reduced by such
amount).

 

 

(C) The deletion of the reference to “December 15, 2002” in the definition
of Accreted Value and its replacement with “December 15, 2004”.

SECTION 2. Miscellaneous

             Section 2.1 Incorporation of Indenture. All the provisions of this
Supplemental Indenture shall be deemed to be incorporated in, and made a part
of, the Indenture; and the Indenture, as supplemented and amended by this
Supplemental Indenture, shall be read, taken and construed as one and the same
instrument.

             Section 2.2 Application of Supplemental Indenture. The provisions and
benefit of this Supplemental Indenture shall be effective with respect to the
Discount Notes.

             Section 2.3 Counterparts. This Supplemental Indenture 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.

             Section 2.4 Successors and Assigns. All agreements in this Supplemental
Indenture by Holdings shall bind its successors and assigns, whether so
expressed or not.

             Section 2.5 Separability Clause. In case any provision in this
Supplemental Indenture shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

             Section 2.6 Benefits of Supplemental Indenture. Nothing in this
Supplemental Indenture, express or implied, shall give to any person, other
than the parties hereto and their successors hereunder and the Holders, any
benefit or any legal or equitable right, remedy or claim under this
Supplemental Indenture.

             Section 2.7 Regarding the Trustee. The Trustee shall not be responsible
for the correctness of the recitals herein, and makes no representation as to
the validity or the sufficiency of this Supplemental Indenture. The Trustee
shall, in connection with this Supplemental Indenture, be entitled to all of
the benefits of all of the rights, privileges, immunities and indemnities of
the Trustee provided for in the Indenture.

2

 

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

	 	 	 	 	 
	 	AMERICAN LAWYER MEDIA HOLDINGS, INC.

 	 
	 	By:  	/s/Allison Hoffman
 	 
	 	 	Name:  	Allison Hoffman 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK , AS TRUSTEE

 	 
	 	By:  	/s/Julie Salovitch-Miller
 	 
	 	 	Name:  	Julie Salovitch-Miller 	 
	 	 	Title:  	Vice President 	 

3

 

	 	 	 	 	 

Exhibit A to Supplemental Indenture No. 1

EXHIBIT B

[FORM OF FACE OF SERIES B DISCOUNT NOTE]

[Global Notes Legend, if applicable]

         UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW
YORK, TO HOLDINGS OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY
PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

         TRANSFERS OF THIS GLOBAL DISCOUNT NOTE SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL DISCOUNT NOTE
SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET
FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF.

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CUSIP No. [   ]/ISIN No. [   ]

121⁄4% Senior Discount Note due 2008

	 	 	 	 	 
	No.

	 	 	$	 

AMERICAN LAWYER MEDIA HOLDINGS, INC., a Delaware corporation

promises to pay to Cede & Co.

or registered assigns,

the principal sum of $80,260,705

Dollars (or such other amount as is indicated on Schedule A hereof)* on
December 15, 2008.

Interest Payment Dates: June 15 and December 15

Record Dates: June 1 and December 1

	 	 	 	 	 	 	 
	 	 	Dated:
	 
	 	 	 	 	 	 
	 	 	AMERICAN LAWYER MEDIA HOLDINGS, INC.
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	
 	 
	

	 	 	 	Name:	 	 
	

	 	 	 	 	
 	 
	

	 	 	 	Title:	 	 
	

	 	 	 	 	
 	 
	 
	 	 	 	 	 	 
	

	 	By:	 	 	 	 
	

	 	 	 	
 	 
	

	 	 	 	Name:	 	 
	

	 	 	 	 	
 	 
	

	 	 	 	Title:	 	 
	

	 	 	 	 	
 	 

(SEAL)

TRUSTEE’S CERTIFICATE OF AUTHENTICATION

This is one of the 121⁄4% Senior
Discount Notes referred to in the
within-mentioned Indenture:

THE BANK OF NEW YORK, as Trustee

	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 	 	
	 	 
	 	 	 	 	Authorized Officer
	

	 	 	 	 	 	* Applicable to Global Discount Notes only	 	 

	 	 	 
	

	* Applicable to Global Discount Notes only

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(Form of Reverse of Series B Note)

American Lawyer Media Holdings, Inc.

12 1⁄4% Senior Discount Notes due 2008

     Capitalized terms used herein shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.

         1. Interest. American Lawyer Media Holdings, Inc., a Delaware
corporation (the “Holdings”), promises to pay interest on the principal amount
of this Note at the rate and in the manner specified below. The Discount Notes
will mature on December 15, 2008. The Discount Notes will be issued at a
substantial discount to their aggregate principal amount at maturity such that
the gross proceeds from the original issuance of the 12 1⁄4% Senior Discount
Notes due 2008 issued on December 22, 1997 for which this Discount Note was
exchanged equaled $35.0 million. Until December 15, 2004, no interest will
accrue on the Discount Notes, but the Accreted Value will increase between the
date of original issuance and December 15, 2004, on a semi annual bond
equivalent basis using a 360-day year comprised of twelve 30 day months, such
that on December 15, 2004 the Accreted Value will be equal to the full
principal amount at maturity of the Discount Notes. Beginning on December 15,
2004, interest on the Discount Notes will accrue at the rate of 121¤4% per
annum and will be payable until maturity semi annually in arrears on June 15
and December 15 of each year, commencing on June 15, 2005, to Holders of record
on the immediately preceding June 1 and December 1, respectively. Interest on
the Discount Notes will accrue from the most recent date to which interest has
been paid or, if no interest has been paid, from December 15, 2004. Holdings
shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue principal and premium, if any, from time to time
on demand at a rate that is 1% per annum in excess of the rate then in effect;
it shall pay interest (including post-petition interest in any proceeding under
any Bankruptcy Law) on overdue installments of interest (without regard to any
applicable grace periods) from time to time on demand at the same rate to the
extent lawful. Interest will be computed on the basis of a 360 day year of
twelve 30 day months.

     2. Method of Payment. Holdings will pay interest on the Discount Notes
(except defaulted interest), to the Persons who are registered Holders of
Discount Notes at the close of business on the June 1 or December 1 next
preceding the Interest Payment Date, even if such Discount Notes are cancelled
after such record date and on or before such Interest Payment Date, except as
provided in Section 2.13 of the Indenture with respect to defaulted interest.
The Discount Notes will be payable as to principal, premium, and interest at
the office or agency of Holdings maintained for such purpose within or without
the City and State of New York, or, at the option of Holdings, payment of
interest may be made by check mailed to the Holders at their addresses set
forth in the register of Holders, and provided that payment by wire transfer of
immediately available funds will be required with respect to principal of and
interest and premium on all Global Discount Notes and all other Discount Notes
the Holders of which shall

B-3

 

have provided wire transfer instructions to Holdings or the Paying Agent.
Such payment shall be in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private
debts.

         3. Paying Agent and Registrar. Initially, The Bank of New York, the
Trustee under the Indenture, will act as Paying Agent and Registrar. Holdings
may change any Paying Agent or Registrar without notice to any Holder.
Holdings or any of its Subsidiaries may act in any such capacity.

         4. Indenture. Holdings issued the Discount Notes under an Indenture
dated as of December 22, 1997, as amended or supplemented (“Indenture”) by and
between Holdings and the Trustee. The terms of the Discount Notes include
those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb).
The Discount Notes are subject to all such terms, and Holders are referred to
the Indenture and such Act for a statement of such terms. The Discount Notes
are unsecured obligations of Holdings limited to $80,260,705 in aggregate
principal amount at maturity.

         5. Optional Redemption. Holdings shall not have the option to redeem the
Discount Notes prior to December 15, 2004 except as provided below.
Thereafter, Holdings shall have the option to redeem the Discount Notes, in
whole or in part, upon not less than 30 nor more than 60 days’ notice, at the
redemption prices (expressed as percentages of principal amount) set forth
below plus accrued and unpaid interest thereon to the applicable redemption
date if redeemed during the twelve-month period beginning on December 15 of the
years indicated below:

	 	 	 	 	 
	Year 
	 	Percentage

	2004 
	 	 	102.042 	%
	2005 and thereafter 
	 	 	100.000 	%

         6. Mandatory Redemption.

         Holdings shall not be required to make mandatory redemption payments
with respect to the Discount Notes.

         7. Repurchase at Option of Holder.

         (a) Upon the occurrence of a Change of Control, each Holder shall have the
right, at such Holder’s option, pursuant to an offer (subject only to
conditions required by applicable law, if any) by Holdings (the “Change of
Control Offer”), to require Holdings to repurchase all or any part of such
Holder’s Discount Notes (provided, that the principal amount of such Discount
Notes must be $1,000 or an integral multiple thereof) on a date (the “Change of
Control Purchase Date”) that is no later than 60 Business Days after the date
of occurrence of such Change of

B-4

 

Control, at a cash price equal to 101% of the Accreted Value thereof,
together with accrued and unpaid interest (the “Change of Control Purchase
Price”) to the Change of Control Purchase Date. The Change of Control Offer
shall be made within 60 Business Days following a Change of Control by mailing
a notice to each Holder describing the transaction or transactions that
constitute the Change of Control and offering to repurchase Discount Notes
pursuant to the procedures required by this Indenture. The Change of Control
Offer shall remain open for at least 20 Business Days following the mailing of
such Change of Control Offer but in no event longer than 30 Business Days,
unless required by law (the “Change of Control Offer Period”). Upon expiration
of the Change of Control Offer Period, Holdings promptly shall purchase all
Discount Notes properly tendered in response to the Change of Control Offer.
Holdings shall comply with the requirements of Rule 14e-1 under the Exchange
Act and any other securities laws and regulations thereunder to the extent such
laws and regulations are applicable in connection with the repurchase of the
Discount Notes as a result of a Change of Control. To the extent that the
provisions of any such securities laws or regulations conflict with the
provisions of this paragraph, compliance by Holdings or any of the Guarantors
with such laws and regulations shall not in and of itself cause a breach of its
obligations under such covenant.

             On or before the Change of Control Purchase Date, Holdings shall, to the
extent lawful (a) accept for payment all Discount Notes or portions thereof
properly tendered pursuant to the Change of Control Offer, (b) deposit with the
Paying Agent an amount equal to the Change of Control Purchase Price (together
with accrued and unpaid interest, of all Discount Notes so tendered and (c)
deliver or cause to be delivered to the Trustee Discount Notes so accepted
together with an Officers’ Certificate listing the Discount Notes or portions
thereof being purchased by Holdings. The Paying Agent shall promptly pay the
Holders of Discount Notes so accepted an amount equal to the Change of Control
Purchase Price (together with accrued and unpaid interest, if any), and the
Trustee shall promptly authenticate and deliver to such Holders a new Note
equal in principal amount to any unpurchased portion of the Note surrendered;
provided that each such new Note will be in a principal amount of $1,000 or an
integral multiple thereof. Any Discount Notes not so accepted will be
delivered promptly by Holdings to the Holder thereof. Holdings will publicly
announce the results of the Change of Control Offer on or as soon as
practicable after the Change of Control Purchase Date.

             If the Change of Control Purchase Date hereunder is on or after an
interest payment Record Date and on or before the associated Interest Payment
Date, any accrued and unpaid interest will be paid to the Person in whose name
a Note is registered at the close of business on such Record Date, and such
accrued and unpaid interest will not be payable to Holders who tender the
Discount Notes pursuant to the Change of Control Offer.

             Holdings will not be required to make a Change of Control Offer upon a
Change of Control if a third party makes the Change of Control Offer in the
manner, at the times and otherwise in compliance with the requirements set
forth in this Indenture applicable to a Change of Control Offer made by
Holdings and purchases all Discount Notes validly tendered and not withdrawn
under such Change of Control Offer.

B-5

 

         (b) Holdings shall not, and shall not permit any Restricted Subsidiary to,
in one or a series of related transactions, convey, sell, transfer, assign or
otherwise dispose of, directly or indirectly, any of its property, business or
assets, including by merger or consolidation (in the case of a Restricted
Subsidiary of Holdings), and including any sale or other transfer or issuance
of any Capital Stock of any Restricted Subsidiary, whether by Holdings or a
Restricted Subsidiary of either or through the issuance, sale or transfer of
Capital Stock by a Restricted Subsidiary, and including any sale and leaseback
transaction (any of the foregoing, an “Asset Sale”), unless:

             (i) within 300 days after the date of such Asset Sale, the Net Cash
Proceeds therefrom (the “Asset Sale Offer Amount”) are applied to the
optional redemption of the Discount Notes in accordance with the terms of
this Indenture or any other Indebtedness of Holdings ranking on a parity
with the Discount Notes from time to time outstanding with similar
provisions requiring Holdings to make an offer to purchase or to redeem
such Indebtedness with the proceeds of asset sales, pro rata in
proportion to the Accreted Value of the Discount Notes and the respective
principal amounts (or accreted values in the case of Indebtedness issued
with an original issue discount) of the Discount Notes and such other
Indebtedness then outstanding, or to the repurchase of the Discount Notes
and such other Indebtedness pursuant to a cash offer (subject only to
conditions required by applicable law, if any) (pro rata in proportion to
the respective principal amounts (or accreted values in the case of
Indebtedness issued with an original issue discount) of the Discount
Notes and such other Indebtedness then outstanding) (the “Asset Sale
Offer”) at a purchase price of 100% of the Accreted Value of the Discount
Notes or the principal amount (or accreted value in the case of
Indebtedness issued with an original issue discount) of such other
Indebtedness (the “Asset Sale Offer Price”) together with accrued and
unpaid interest, to the date of payment, or (ii) within 300 days
following such Asset Sale, the Asset Sale Offer Amount is (A) invested
(or committed, pursuant to a binding commitment subject only to
reasonable, customary closing conditions, to be invested, and in fact is
so invested, within an additional 90 days) in a Person, business, assets
or property which in the good faith reasonable judgment of the Board of
Directors will constitute or be a part of a Related Business of Holdings
or such Restricted Subsidiary (if it continues to be a Subsidiary)
immediately following such transaction or (B) used to retire or repay
Indebtedness of Holdings and/or any Restricted Subsidiary that is senior
to or pari passu with the Discount Notes and to permanently reduce the
amount of such Indebtedness (provided that, in the case of a revolving
credit arrangement or similar arrangement that makes credit available,
such commitment is permanently reduced by such amount).

             (ii) with respect to any Asset Sale or related series of Asset
Sales involving securities, property or assets with an aggregate
Determined Fair Market Value in excess of $500,000, at least 75% of the
consideration for such Asset Sale or series of related Asset Sales
consists of (x) cash or Cash Equivalents or (y) property or services
usable by

B-6

 

Holdings or any Restricted Subsidiary in the ordinary course of
conduct of a Related Business; provided, that if the Determined Fair
Market Value of property or assets of the kind specified in this
subclause (y) exceeds $5.0 million, then the Determined Fair Market Value
thereof shall be determined by a Third Party Evaluator; and provided,
further, that the principal amount of the following shall be deemed to be
cash for purposes of this clause (b): (i) any Indebtedness (as shown on
Holdings’ or such Restricted Subsidiary’s most recent balance sheet or in
the notes thereto) of Holdings or any Restricted Subsidiary that is
assumed or forgiven by the transferee of any such assets and (ii) any
securities, notes or other obligations received by Holdings or any such
Restricted Subsidiary from such transferee that are converted by Holdings
or such Restricted Subsidiary into cash within 30 days of the closing of
such Asset Sale (but in the case of this subclause (ii), only to the
extent of the cash received),

         (c) no Default or Event of Default shall have occurred and be continuing
at the time of, or would occur after giving effect, on a pro forma basis, to,
such Asset Sale, and

         (d) the Board of Directors of Holdings determines in good faith that
Holdings or such Restricted Subsidiary, as applicable, receives at least
Determined Fair Market Value for such Asset Sale.

                    An acquisition of Discount Notes pursuant to an Asset Sale Offer may be
deferred until the accumulated Net Cash Proceeds from Asset Sales not applied
to the uses set forth above (the “Excess Proceeds”) exceeds $5.0 million and
that each Asset Sale Offer shall remain open for 20 Business Days following its
commencement but in no event longer than 30 Business Days, except to the extent
that a longer period is required by applicable law (the “Asset Sale Offer
Period”). Not later than five Business Days after the termination of the Asset
Sale Offer Period (the “Asset Sale Purchase Date”) Holdings shall apply the
Asset Sale Offer Amount plus an amount equal to accrued and unpaid interest to
the purchase of all Discount Notes or any other Indebtedness properly tendered
(on a pro rata basis if the Asset Sale Offer Amount is insufficient to purchase
all Discount Notes and any other Indebtedness so tendered) at the Asset Sale
Offer Price (together with accrued and unpaid interest). Payment for any
Discount Notes so purchased shall be made in the same manner as interest
payments are made.

                    If the payment date in connection with an Asset Sale Offer hereunder is on
or after an interest payment Record Date and on or before the associated
Interest Payment Date, any accrued and unpaid interest will be paid to the
person in whose name a Note is registered at the close of business on such
Record Date, and such interest will not be payable to Holders who tender
Discount Notes pursuant to such Asset Sale Offer.

                    Upon the commencement of an Asset Sale Offer, Holdings shall send, by
first class mail, a notice to the Trustee and each of the Holders, with a copy
to the Trustee. The notice shall contain all instructions and materials
necessary to enable such Holders to tender

B-7

 

Discount Notes pursuant to the Asset Sale Offer. The Asset Sale Offer
shall be made to all Holders.

         8. Denominations, Transfer, Exchange. The Discount Notes are in
registered form without coupons in denominations of $1,000 and integral
multiples of $1,000. The transfer of Discount Notes may be registered and
Discount Notes may be exchanged as provided in the Indenture. The Registrar
and the Trustee may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and Holdings may require a
Holder to pay any taxes and fees required by law or permitted by the Indenture.
Holdings need not exchange or register the transfer of any Note or portion of
a Discount Note selected for redemption, except for the unredeemed portion of
any Discount Note being redeemed in part. Also, it need not exchange or
register the transfer of any Discount Notes for a period of 15 days before a
selection of Discount Notes to be redeemed or during the period between a
record date and the corresponding Interest Payment Date.

         9. Persons Deemed Owners. The registered Holder of a Discount Note may
be treated as its owner for all purposes.

         10. Amendment, Supplement and Waiver. Subject to Accreted Value, the
Indenture or the Discount Notes may be amended or supplemented with the consent
of the Holders of a majority in aggregate Accreted Value of the then
outstanding Discount Notes, and any existing default or compliance with any
provision of the Indenture or the Discount Notes may be waived with the consent
of the Holders of a majority in aggregate Accreted Value of the then
outstanding Discount Notes. Without the consent of any Holder of a Discount
Note, the Indenture or the Discount Notes may be amended or supplemented to
cure any ambiguity, defect or inconsistency, to provide for uncertificated
Discount Notes in addition to or in place of certificated Discount Notes, to
provide for the assumption of Holdings’ obligations to Holders of the Discount
Notes in case of a merger or consolidation, to make any change that would
provide any additional rights or benefits to the Holders of the Discount Notes
(including the addition of any Guarantors) or that does not adversely affect
the legal rights under the Indenture of any such Holder, or to comply with the
requirements of the SEC in order to effect or maintain the qualification of the
Indenture under the Trust Indenture Act.

         11. Defaults. An “Event of Default” means: (1) failure to pay any
installment of interest on the Discount Notes as and when the same becomes due
and payable and the continuance of any such failure for 30 days; (2) failure to
pay all or any part of the principal, or premium, if any, on the Discount Notes
when and as the same becomes due and payable at maturity, redemption, by
acceleration or otherwise, including, without limitation, payment of the Change
of Control Purchase Price or the Asset Sale Offer Price, or otherwise; (3) the
failure by either of Holdings or any Restricted Subsidiary to observe or
perform any other covenant or agreement contained in the Discount Notes or this
Indenture and the continuance of such failure for a period of 45 days after
written notice is given to Holdings by the Trustee or to Holdings and the
Trustee by the Holders of at least 25% in aggregate principal amount of the
Discount Notes outstanding specifying the default and demanding that same be
remedied; (4) Holdings or any of its

B-8

 

Significant Subsidiaries pursuant to or within the meaning of any
Bankruptcy Law commences a voluntary case; consents to the entry of an order
for relief against it in an involuntary case; consents to the appointment of a
Custodian of it or for all or substantially all of its property; makes a
general assignment for the benefit of its creditors; or generally is not paying
its debts as they become due; or, a court of competent jurisdiction enters an
order or decree under any Bankruptcy Law that is for relief against Holdings or
any Restricted Subsidiary in an involuntary case, appoints a Custodian of
Holdings or any Significant Subsidiary or for all or substantially all of the
property of Holdings or any Significant Subsidiary, or orders the liquidation
of Holdings or any Significant Subsidiary and the order or decree remains
unstayed and in effect for 60 consecutive days; (5) a default in Indebtedness
of Holdings or any of its Restricted Subsidiaries with an aggregate principal
amount in excess of $5.0 million (i) resulting from the failure to pay
principal at final maturity or (ii) as a result of which the maturity of such
Indebtedness has been accelerated prior to its stated maturity; and (6) final
unsatisfied judgments not covered by insurance aggregating in excess of $5.0
million, at any one time rendered against Holdings or any of its Significant
Subsidiaries and not stayed, bonded or discharged within 60 days.

         12. Restrictive Covenants. The Indenture imposes certain limitations on
the ability of Holdings and its Restricted Subsidiaries to, among other things,
engage in certain transactions with Affiliates, incur additional indebtedness
and make payments in respect of Equity Interests. The limitations are subject
to a number of important qualifications and limitations.

         13. Trustee Dealings with Holdings. The Trustee, in its individual or
any other capacity, may make loans to, accept deposits from, and perform
services for Holdings or its Affiliates, and may otherwise deal with Holdings
or its Affiliates, as if it were not the Trustee.

         14. No Recourse Against Others. A director, officer, employee,
incorporator or stockholder, of Holdings, as such, shall not have any liability
for any obligations of Holdings under the Discount Notes or the Indenture or
for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Discount Note waives and releases
all such liability. The waiver and release are part of the consideration for
the issuance of the Discount Notes.

         15. Authentication. This Discount Note shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating
agent.

         16. Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship
and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts
to Minors Act).

         Holdings will furnish to any Holder upon written request and without
charge a copy of the Indenture. Requests may be made to:

American Lawyer Media Holdings, Inc.

B-9

 

	 
	345 Park Avenue South

	New York, NY 10010

	Telephone No.: (212) 779-9200

	Fax No.: (212) 592-4900

	Attention: Allison Hoffman, General Counsel

B-10

 

ASSIGNMENT FORM

To assign this Discount Note, fill in the form below: (I) or (we) assign and
transfer this Discount Note to

	

	(Insert assignee’s Social Security or tax I.D. No.)
	 
	

	

	

	

	(Print or type assignee’s name, address and zip code)
	 
	and irrevocably appoint	

	agent to transfer this Discount Note on the books of Holdings. The agent may
substitute another to act for such agent.

	 	 	 
	Your Signature:
	 	 
	

	 	

	

	 	(Sign exactly as your name appears on the face of this Discount Note)

	 	 	 
	Date:
	 	 
	

	 	

	 	 	 
	By:
	 	 
	

	 	

	Notice: To be executed by an executive officer

	 	 	 
	Signature Guarantee:*
	 	 
	

	 	

 

* Signature must be guaranteed.

B-11

 

OPTION OF HOLDER TO ELECT PURCHASE

     If you want to elect to have this Discount Note purchased by Holdings
pursuant to Section 4.07 or 4.08 of the Indenture, check the box below:

	 	 	 
	o Section 4.07

	 	o Section 4.08

     If you want to elect to have only part of this Discount Note purchased by
Holdings pursuant to Section 4.07 or Section 4.08 of the Indenture, state the
amount you elect to have purchased: $   

	 	 	 	 	 	 	 
	Date:

	 	 	Your Signature:	 	 
	

	
	 	
	 	 
	

	 	 	(Sign exactly as your name appears on the Note)	 	 

	 	 	 	 	 	 
	

	 	By:	 	 	 
	 	 	

	 	
	 
	 	 	Notice: To be executed by an executive officer	 

	 	 	 	 	 
	

	 	Tax Identification No.:	 	 
	

	 	 	 	

	 
	 	 	 	 
	

	 	Signature Guarantee:*	 	 
	

	 	 	 	

                * Signature must be guaranteed.

B-12

 

SCHEDULE A

SCHEDULE OF PRINCIPAL AMOUNT*

     The following increases or decrease in the principal amount of this Global
Discount Note have been made:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	Principal Amount	 	 
	 	 	 	 	Amount of de-	 	Amount of in-	 	of this Global Dis-	 	 
	 	 	 	 	crease in Principal	 	crease in Principal	 	count Note	 	Signature of au-
	 	 	 	 	Amount of this	 	Amount of this	 	following such	 	thorized signatory
	Date of Exchange	 	Global Discount	 	Global Discount	 	decrease or	 	of Trustee or Note
	or Transfer
	 	Note
	 	Note
	 	increase
	 	Custodian

*     To be attached only to Global Discount NotesPURCHASE AGREEMENT

 

Exhibit 4.12

PURCHASE AGREEMENT

          PURCHASE AGREEMENT (this “Agreement”), dated as of December 19, 2003 (the
“Effective Date”), among the entities on Schedule 1 hereto (each a “Buyer” and
collectively, the “Buyers”), the Trustees of the Cranberry Dune 1998 Long-Term
Trust, a Delaware common law trust (“Cranberry”), Descendants’ Trust LLC, a
Delaware limited liability company (“Descendants” and together with Cranberry,
the “Sellers”) and American Lawyer Media Holdings, Inc. (“Holdings”).

RECITALS

     A. The Buyers wish to purchase from the Sellers, and the Sellers wish to
sell to Buyers, the aggregate principal amount at maturity set forth on
Schedule 1 hereto of the new 121⁄4% Senior Discount Notes due 2008 (the
“Discount Notes”) to be issued by Holdings pursuant to an exchange offer for
the existing 121⁄4% Senior Discount Notes due 2008 (the “Existing Discount
Notes”) issued by Holdings pursuant to an Indenture dated as of December 22,
1997 (the “Indenture”) between Holdings and The Bank of New York, as Trustee.

          Accordingly, the parties hereto agree as follows:

     1. Sale and Transfer of the Discount Notes. On the Closing Date, each
Buyer, severally and not jointly, agrees to purchase the principal amount at
maturity of the Discount Notes that is set forth opposite such Buyers’ name in
Schedule 1 hereto and to deliver its ratable portion of the consideration on
the Closing Date as set forth in Schedule 2 hereto. Each Seller, severally and
not jointly, agrees to sell, assign, transfer and deliver to the Buyers the
ratable portion of the aggregate principal amount at maturity of the Discount
Notes to be purchased hereunder as set forth opposite such Sellers’ name in
Schedule 3 hereto in exchange for its ratable portion of the consideration to
be delivered by the Buyers as set forth above (the “Consideration”), such sale,
assignment, transfer and delivery to be effective on the Closing Date.

     2. Instruments of Conveyance and Transfer and Payment. The Discount Notes
to be purchased by each of the Buyers hereunder will be represented by one or
more definitive global notes in book-entry form deposited with The Depository
Trust Company (“DTC”) or its designated custodian. Seller shall provide
Written Notice at least one Business Day before the consummation of the
purchase to each Buyer specifying the date for the consummation of the
purchase, which, subject to the provisions of this Agreement, shall be a date
no later than thirty (30) Business Days from the Effective Date (the “Closing
Date”). On the Closing Date, the Sellers will deliver the Discount Notes for
the account of each Buyer, against payment of the Consideration by wire
transfer in immediately available funds to the accounts designated in writing
by the Sellers, by causing DTC to credit the Discount Notes to the account of
each Buyer at DTC as designated by each Buyer in writing.

 

 

     3. Representations and Warranties of the Sellers. Each of the Sellers,
severally and not jointly, represents and warrants to each Buyer as of the
Effective Date as follows:

          (a) Ownership of Discount Notes. The portion of the Discount Notes to be
sold to the Buyers is set forth next to the name of each Seller in Schedule 2
hereto. An equal amount of Existing Discount Notes is owned of record and
beneficially by such Seller and the Existing Discount Notes are, and the
Discount Notes, will be free and clear of any option, call, contract,
commitment, demand, Lien, charge, security interest or encumbrance whatsoever.

          (b) Existence and Power. Cranberry has been duly formed and is governed
by the laws of the State of Delaware. Descendants has been duly organized and
is validly existing and in good standing under the laws of the State of
Delaware.

          (c) Authorization; Enforceability. Each of the Sellers has all requisite
power and authority to execute and deliver this Agreement and to consummate the
transactions contemplated hereby and has taken all necessary action to
authorize the execution, delivery and performance of this Agreement. This
Agreement has been duly executed and delivered by each of the Sellers and
constitutes the valid and binding agreement of each of the Sellers enforceable
against each of the Sellers in accordance with its terms, except to the extent
that their enforceability may be subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar Laws affecting the enforcement of
creditors’ rights generally and by general equitable principles, and will
effectively vest in Buyer good, valid and marketable title to the Discount
Notes pursuant to and as contemplated by this Agreement free and clear of all
encumbrances whatsoever.

          (d) Governmental Authorization. The execution, delivery and performance
by each of the Sellers of this Agreement require no consent, approval, Order,
authorization or action by or in respect of, or filing with, any state or
federal Governmental Authority having jurisdiction over the Sellers.

          (e) Non-Contravention; Consents. The execution, delivery and performance
by each of the Sellers of this Agreement and the consummation of the
transactions contemplated hereby do not (i) violate the operative documents of
the Sellers, (ii) violate any applicable Law or Order, (iii) require any filing
with or Permit, consent or approval of, or the giving of any notice to, any
Person.

          (f) Percentage of Outstanding. The Discount Notes to be sold to the
Buyers hereunder will, upon consummation of the sale hereunder on the Closing
Date represent approximately 51.08% of the outstanding aggregate principal
amount at maturity.

          (g) Disclosure of Information. The sale by each Seller of the Discount
Notes hereunder is not prompted by any information material to financial
condition, earnings, operations or prospects of Holdings and its subsidiaries,
taken as a whole, that has not been disclosed either orally or in writing to
GoldenTree Asset Management, LP (“GoldenTree”) by Holdings.

2

 

          (h) Not Restricted Securities. The Discount Notes, upon delivery thereof
hereunder, shall not constitute “restricted securities” under the Securities
Act of 1933 and the Securities Act shall permit the resale by each Buyer of
such Discount Notes without further registration under the Securities Act.

     4. Representations and Warranties of Buyer. Each Buyer, severally and not
jointly, represents and warrants to each of the Sellers and Holdings as of the
Effective Date as follows:

          (a) Existence and Power. Each Buyer is duly formed, validly existing and
in good standing under the laws of the jurisdiction of its formation.

          (b) Corporate Authorization; Enforceability. The execution, delivery and
performance by each Buyer of this Agreement are within such Buyer’s corporate
powers and have been duly authorized by all necessary corporate action on the
part of such Buyer. This Agreement has been duly executed and delivered by
each Buyer and constitutes the valid and binding agreement of each Buyer,
enforceable against such Buyer in accordance with its terms, except to the
extent that its enforceability may be subject to applicable bankruptcy,
insolvency, reorganization, moratorium and similar Laws affecting the
enforcement of creditors’ rights generally and by general equitable principles.

          (c) Governmental Authorization. The execution, delivery and performance
by each Buyer of this Agreement require no consent, approval, Order,
authorization or action by or in respect of, or filing with, any Governmental
Authority having jurisdiction over such Buyer.

          (d) Non-Contravention; Consents. The execution, delivery and performance
by each Buyer of this Agreement and the consummation of the transactions
contemplated hereby do not (i) violate the operative documents of such Buyer or
(ii) violate any applicable Law or Order.

          (e) Accredited Investor. Each Buyer is an “accredited investor” as
defined in Rule 501(a) promulgated under the Securities Act, is a sophisticated
investor, has such knowledge and experience in financial, business and
investment matters as to be capable of evaluating the merits and risks of the
purchase of the Discount Notes, and GoldenTree, acting for the Buyers, has had
an opportunity to discuss Holdings’ business, management and financial affairs
with officers and management of Holdings.

          (f) Affiliate Status. Each Buyer is an Affiliate of GoldenTree.

     5. Representations and Warranties of Holdings. Holdings, represents and
warrants to each Buyer as of the Effective Date as follows:

          (a) Existence and Power. Holdings is a corporation duly incorporated,
validly existing and in good standing under the laws of the State of Delaware.

3

 

          (b) Authorization; Enforceability of this Agreement. Holdings has all
requisite power and authority to execute and deliver this Agreement and to
consummate the transactions contemplated hereby and has taken all necessary
corporate action to authorize the execution, delivery and performance of this
Agreement. This Agreement has been duly executed and delivered by Holdings and
constitutes the valid and binding agreement of Holdings enforceable against it
in accordance with its terms, except to the extent that their enforceability
may be subject to applicable bankruptcy, insolvency, reorganization, moratorium
and similar Laws affecting the enforcement of creditors’ rights generally and
by general equitable principles.

          (c) Governmental Authorization. The execution, delivery and performance
by Holdings of this Agreement require no consent, approval, Order,
authorization or action by or in respect of, or filing with, any state or
federal Governmental Authority having jurisdiction over Holdings.

          (d) Non-Contravention; Consents. The execution, delivery and performance
by Holdings of this Agreement and the consummation of the transactions
contemplated hereby do not (i) violate the operative documents of Holdings,
(ii) violate any applicable Law or Order, (iii) require any filing with or
Permit, consent or approval of, or the giving of any notice to, any Person.

          (e) Authorization; Enforceability of the Supplemental Indenture. As of
the Closing Date, Holdings will have obtained the Requisite Consents and have
all requisite power and authority to execute and deliver the Supplemental
Indenture and to consummate the transactions contemplated thereby and all
necessary corporate action to authorize the execution, delivery and performance
of the Supplemental Indenture will have been taken and the Supplemental
Indenture will constitute the valid and binding agreement of Holdings
enforceable against it in accordance with its terms, except to the extent that
their enforceability may be subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar Laws affecting the enforcement of
creditors’ rights generally and by general equitable principles.

          (f) Holdings Exchange Act Reports. The Holdings 34 Act Documents do not
as of the date hereof and will not as of the Closing Date, at the date thereof,
contain any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

          (g) Material Adverse Change. Subsequent to the date as of which the
information is given in the Holdings 34 Act Documents, there has been no
material adverse change, or development involving a prospective change, in the
condition (financial or otherwise), earnings or business affairs of Holdings
and its subsidiaries taken as a whole, whether or not arising in the ordinary
course of business.

          (h) Outstanding Principal Amount at Maturity. The outstanding aggregate
principal amount at maturity of the Discount Notes is $80,260,704.97.

4

 

     6. Covenant of Sellers. Each of the Sellers, severally and not jointly,
covenants and agrees with the Buyer and Holdings as follows:

          (a) Exchange Offer. Each of the Sellers agrees to promptly tender the
Existing Discount Notes held by it for the Discount Notes in the Exchange Offer
(as defined below).

     7. Covenant of Buyers. Each Buyer covenants and agrees with Holdings as
follows:

          (a) Indenture Amendments. If Holdings seeks an amendment of the Indenture
or the Indenture for the 93⁄4% Senior Notes (the “Senior Notes”) among American
Lawyer Media, Inc. (“ALM”), the Guarantors and the Trustee, dated as of
December 22, 1997 (the “Senior Indenture”) in each case, in order to (i) in
clause (h) of the definition of Permitted Indebtedness, increase the allowable
amount of indebtedness pursuant to a credit agreement up to an aggregate
principal amount outstanding at any time from $40 million to $65 million and
(ii) in clause (s) of the definition of Permitted Lien, to increase the
allowable amount of liens securing obligations under a credit agreement from
$40 million to $65 million (together, the “Amendments”), each Buyer will
consent to the Amendments; provided each Buyer receives the same fees, if any,
paid in connection with each of the Amendments as the other holders of the
Discount Notes and the Senior Notes, respectively (it being understood that
same fee means the highest fee paid per amount of Notes or Senior Notes to any
other holder of the Notes or Senior Notes, respectively).

          (b) Increase in Pari Passu Debt. If Holdings is unable to obtain consent
to the Amendments or to effectuate the transaction contemplated by the
Amendments and within six-months of the Effective Date seeks an amendment to
the Indenture to increase the aggregate principal amount at maturity of pari
passu debt from $80 million to $100 million, each Buyer will consent to such
amendment, provided that no Buyer shall be required to give such consent until
Holdings has complied with its obligations under Section 8(b) hereof.

     8. Covenants of Holdings. Holdings covenants and agrees with each Buyer
as follows:

          (a) Board Observer Seat. So long as GoldenTree and the other Buyers, or
Affiliates of any of them (provided they are controlled by GoldenTree), hold,
in the aggregate, at least 25% of the Discount Notes purchased pursuant to this
Agreement, if at any time Holdings’ Total Leverage Ratio on a trailing
four-quarter basis beginning with the fiscal quarter ended March 31, 2004 is
above 9.3 to 1.0, GoldenTree shall have the right to (i) appoint one non-voting
observer to attend all meetings of the full Board of Directors of each of
Holdings and ALM (the “Board of Directors”), and (ii) receive all written
information in connection with the Board of Directors meeting as and when
distributed to the Board of Directors. However, the Board may withhold
information from GoldenTree if it reasonably believes that disclosure of such
information to GoldenTree would jeopardize the attorney-client privilege status
of such information,

5

 

jeopardize the confidential status of such information or compromise the
fiduciary duties of the directors. Holdings and ALM shall hold at least one
meeting of each Board of Directors per fiscal quarter. Concurrently with the
delivery of the financial statements provided for in Section 4.03 of the
Indenture, Holdings shall cause to be delivered to each Buyer, as described in
Section 10 hereof, a certificate of a senior financial officer of Holdings
certifying as to the Total Leverage Ratio as of the fiscal quarter for which
such financial statements have been delivered.

          (b) Right of Participation. So long as GoldenTree and the other Buyers,
or Affiliates of any of them(provided they are controlled by GoldenTree), hold,
in the aggregate, at least 25% of the Discount Notes purchased pursuant to this
Agreement, if Holdings proposes to issue or sell any debt securities of
Holdings that are pari passu with the Discount Notes, Holdings shall, no later
than twenty (20) Business Days prior to the consummation of such transaction (a
“Participation Transaction”), give a Written Notice (the “Participation Offer
Notice”) to each Buyer of such Participation Transaction. The Participation
Offer Notice shall describe the proposed Participation Transaction and contain
an offer (the “Participation Rights Offer”) to sell a Pro Rata Amount of such
pari passu debt securities to each Buyer at the same price and for the same
consideration paid in the offering of such debt security. If any Buyer fails
to deliver a Written Notice accepting the Participation Rights Offer by the
fifteenth (15th) Business Day after Holdings’ delivery of the Participation
Rights Offer Notice, such Buyer shall have no further rights with respect to
the proposed Participation Rights Transaction. Nothing contained in this
Section 7(b) shall constitute or be interpreted as a consent by any Buyer to
any amendment to, or waiver of the terms of, the Indenture to permit such
issuance, which issuance shall be made only if permitted by the terms of the
Indenture.

          (c) Exchange Offer. Holdings shall promptly commence an offer pursuant to
Section 3(a)(9) of the Securities Act of 1933 to exchange the Existing Discount
Notes for the Discount Notes (the “Exchange Offer”). The Discount Notes
offered in the Exchange Offer will have substantially identical terms to the
Existing Discount Notes except that (i) the Accreted Value (as defined in the
Indenture) will increase on a semi-annual bond equivalent basis using a 360-day
year comprised of twelve 30-day months, such that on December 15, 2004 the
Accreted Value will be equal to $80,260,705. Beginning on December 15, 2004,
cash interest on the Discount Notes will accrue at the rate of
121⁄4% per annum
and will be payable until maturity semi-annually in arrears on June 15 and
December 15 of each year, commencing on June 15, 2005, to Holders of record on
the immediately preceding June 1 and December 1, respectively; and (ii) Section
4.08(a)(ii)(B) shall be deleted in its entirety and replaced with the
following, “used to retire or repay Indebtedness of Holdings and/or any
Restricted Subsidiary that is pari passu with the Discount Notes and to
permanently reduce the amount of such Indebtedness (provided that in the case
of a revolving credit arrangement or similar arrangement that makes credit
available, such commitment is permanently reduced by such amount).” The terms
of the Discount Notes, to the extent they differ form the terms of the Existing
Discount Notes, shall be reasonably acceptable to GoldenTree.

6

 

     9. Conditions to the Obligations of the Buyers. The obligations of the
Buyers to purchase the Discount Notes shall be subject to the accuracy of the
representations and warranties of the Sellers contained herein as of the
Effective Date and the Closing Date, to the performance by the Sellers and
Holdings of their obligations hereunder and to the following additional
conditions:

          (a) Officers’ Certificate. Holdings and each Seller shall have furnished
to the Buyers a certificate of Holdings and such Seller, signed by (x) a senior
officer and (y) a senior financial officer of Holdings and such Seller, dated
the Closing Date, to the effect that:

          (i) the representations and warranties of Holdings and such
Seller set forth in this Agreement are true and correct on and as
of the Closing Date with the same effect as if made on the Closing
Date, and Holdings and such Seller have complied with all the
agreements and satisfied all the conditions on its part to be
performed or satisfied hereunder at or prior to the Closing Date;
and

          (ii) (to the knowledge thereof in the case of the Sellers)
subsequent to the date as of which the information is given in the
Holdings 34 Act Documents, there has been no material adverse
change, or development involving a prospective change, in the
condition (financial or otherwise), earnings or business affairs
of Holdings and its subsidiaries taken as a whole, whether or not
arising in the ordinary course of business.

          (b) DTC Eligibility. The Discount Notes shall be eligible for clearance
and settlement through the DTC.

          (c) Ratings Downgrade. Subsequent to the Effective Date, there shall not
have been any decrease in the rating of any of Holdings’ or ALM’s securities by
any “nationally recognized statistical rating organization” (as defined for
purposes of Rule 436(g) under the Securities Act of 1934, as amended) or any
notice given of any intended or potential decrease in any such rating or of a
possible change in any such rating that does not indicate the direction of the
possible change.

     If any of the conditions specified in this Section 9 shall not have been
fulfilled in all material respects when and as provided in this Agreement or
the Closing Date shall not have occurred with in thirty (30) days of the
Effective Date then this Agreement and all obligations of the Buyers hereunder
may be cancelled by the Buyers by Written Notice to each Seller and Holdings.

     10. Notice. Unless otherwise specifically provided in this Agreement, all
notices and other communications required or permitted to be given hereunder
shall be in writing (a “Written Notice”) and shall be (i) delivered by hand,
(ii) delivered by a nationally recognized commercial overnight delivery
service, (iii) mailed postage prepaid by first class mail, (iv) by facsimile or
(v) by e-mail, in any such case directed or addressed to each Buyer or Seller
at the address, e-mail address or facsimile number set forth on

7

 

Schedule 1 or Schedule 2 hereto, respectively. If to Holdings at 345 Park
Avenue South, New York, New York 10010, Attn: Allison Hoffman, General Counsel,
Facsimile No.: (212) 592-4900, Phone No.: 212-545-6148, Email:
ahoffman@amlaw.com. If to any of the Buyers to GoldenTree Asset Management,
LP, 300 Park Avenue, 25th Floor, Attn: Steven T. Shapiro, Managing Director,
Facsimile No.: 212-847-3535, Phone No.: 212-847-3511, Email: sshapiro@gtam.net.
Such notices or communications shall be delivered and effective: (a) in the
case of hand deliveries when received; (b) in the case of an overnight delivery
service, on the next business day after being placed in the possession of such
delivery service, with delivery charges prepaid; (c) in the case of mail, seven
(7) days after deposit in the postal system, first class mail, postage prepaid,
and (d) in the case of facsimile notices or e-mail notices, when electronic
indication of receipt is received. Any party may change its address, e-mail
address and facsimile number by Written Notice to each other party.

     11. Definitions. As used in this Agreement:

          (a) “Accreted Value” shall have the meaning given to such term in the
Indenture.

          (b) “Affiliate” means, with respect to any Person, any other Person
directly or indirectly controlling, controlled by or under common control with
the first Person. For the purposes of this definition, “control,” when used
with respect to any Person, means the possession, directly or indirectly, of
the power to (i) vote 10% or more of the securities having ordinary voting
power for the election of directors (or comparable positions) of such Person or
(ii) direct or cause the direction of the management and policies of such
Person, whether through the ownership of voting securities, by contract or
otherwise, and the terms “controlling” and “controlled” have meanings
correlative to the foregoing.

          (c) “Business Day” means each Monday, Tuesday, Wednesday, Thursday and
Friday which is not a day on which banking institutions in New York, New York
are authorized or obligated by law or executive order to close;.

          (d) “Consolidated EBITDA” shall have the meaning given to such term in the
Indenture.

          (e) “Fiscal Quarter” means any of the quarterly accounting periods of
Holdings, ending on March 31st, June 30th, September 30th and December 31st of
each year.

          (f) “Governmental Authority” means any domestic or foreign governmental or
regulatory authority;

          (g) “Holdings 34 Act Documents” means the reports, and any amendments or
supplements thereto, filed by Holdings as of the Effective Date with the
Securities and Exchange Commission pursuant to the Securities Exchange Act of
1934, as amended.

8

 

          (h) “Indebtedness” shall have the meaning given to such term in the
Indenture.

          (i) “Law” means any federal, state or local statute, law, rule,
regulation, ordinance, code, Permit, license, policy or rule of common law;

          (j) “Lien” means, with respect to any property or asset, any mortgage,
lien, pledge, charge, security interest, encumbrance or other adverse claim of
any kind in respect of such property or asset. For the purposes of this
Agreement, a Person will be deemed to own, subject to a Lien, any property or
asset which it has acquired or holds subject to the interest of a vendor or
lessor under any conditional sale agreement, capital lease or other title
retention agreement relating to such property or asset;

          (k) “Order” means any judgment, injunction, judicial or administrative
order or decree;

          (l) “Permit” means any government or regulatory license, authorization,
permit, franchise, consent or approval; and

          (m) “Person” means an individual, corporation, partnership, limited
liability company, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality
thereof.

          (n) “Pro Rata Amount” means an amount determined by dividing the aggregate
principal amount at maturity of the Discount Notes owned by such Buyer by total
aggregate principal amount at maturity of outstanding Discount Notes.

          (o) “Requisite Consents” means the consent of the holders of 100% of the
outstanding aggregate principal amount of the Existing Discount Notes.

          (p) “Supplemental Indenture” means the supplemental indenture to be
entered into between Holdings and The Bank of New York, as Trustee upon the
consummation of the Exchange Offer.

          (q) “Testing Period” means, with respect to any Fiscal Quarter, the period
of twelve (12) consecutive Fiscal Months that ends with the last day of such
Fiscal Quarter.

          (r) “Total Leverage Ratio” means, with respect to any Fiscal Quarter, the
ratio of (i) the total consolidated Indebtedness of Holdings and its
Subsidiaries as of the last day of such Fiscal Quarter to (ii) Consolidated
EBITDA for the Testing Period ending with such Fiscal Quarter. In determining
the Total Leverage Ratio, the same methodology shall be applied as is utilized
in Section 4.10 of the Indenture to calculate the ratio of Total Indebtedness
to Consolidated EBITDA.

          (s) “Written Notice” means a notice delivered pursuant to Section 10
hereof.

9

 

     12. Miscellaneous.

          (a) Counterparts. This Agreement may be signed in any number of
counterparts, each of which will be deemed an original but all of which
together shall constitute one and the same instrument.

          (b) Amendments and Waivers. (i) Any provision of this Agreement may be
amended or waived if, but only if, such amendment or waiver is in writing and
is signed, in the case of an amendment, by each party to this Agreement, or in
the case of a waiver, by the party against whom the waiver is to be effective.

          (ii) No failure or delay by any party in exercising any right, power or
privilege hereunder will operate as a waiver thereof nor will any single or
partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. The rights and remedies
herein provided will be cumulative and not exclusive of any rights or remedies
provided by Law.

          (c) Successors and Assigns. The provisions of this Agreement will be
binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided that no party may assign, delegate
or otherwise transfer (including by operation of Law) any of its rights or
obligations under this Agreement without the consent of each other party hereto
except that Holdings may assign its rights and obligations under this Agreement
(x) to a successor corporation by merger or consolidation or (y) to any
corporation acquiring by sale, lease or otherwise substantially all the
property, assets and business of Holdings, provided that such person assumes
all obligations under the Discount Notes, in accordance with the Indenture.
Any assignment in violation of this subsection will be void ab initio.

          (d) No Third Party Beneficiaries. This Agreement is for the sole benefit
of the parties hereto and their permitted successors and assigns and nothing
herein expressed or implied will give or be construed to give to any Person,
other than the parties hereto and such permitted successors and assigns any
legal or equitable rights hereunder.

          (e) Governing Law. This Agreement will be governed by, and construed in
accordance with, the internal substantive law of the State of New York.

          (f) Jurisdiction. Except as otherwise expressly provided in this
Agreement, any suit, action or proceeding seeking to enforce any provision of,
or based on any matter arising out of or in connection with, this Agreement or
the transactions contemplated hereby may be brought in any court of competent
jurisdiction in the Borough of Manhattan, New York and the United States
District Court for the Southern District of New York (assuming that such court
otherwise has jurisdiction) and each of the parties hereby consents to the
non-exclusive jurisdiction of such courts (and of the appropriate appellate
courts therefrom) in any such suit, action or proceeding and irrevocably
waives, to the fullest extent permitted by Law, any objection which it may now
or hereafter have to the laying of the venue of any such suit, action or
proceeding in

10

 

any such court or that any such suit, action or proceeding which is
brought in any such court has been brought in an inconvenient forum. Process
in any such suit, action or proceeding may be served on any party anywhere in
the world, whether within or without the jurisdiction of any such court.

          (g) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR
COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF
OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

          (h) Headings. The headings in this Agreement are for convenience of
reference only and will not control or affect the meaning or construction of
any provisions hereof.

          (i) Entire Agreement. This Agreement (including the Schedules) constitute
the entire agreement among the parties with respect to the subject matter of
this Agreement. This Agreement (including the Schedules hereto) supersede all
prior agreements and understandings, both oral and written, between the parties
with respect to the subject matter hereof of this Agreement.

          (j) Severability. If any provision of this Agreement or the application
of any such provision to any Person or circumstance is held invalid, illegal or
unenforceable in any respect by a court of competent jurisdiction, the
remainder of the provisions of this Agreement (or the application of such
provision in other jurisdictions or to Persons or circumstances other than
those to which it was held invalid, illegal or unenforceable) will in no way be
affected, impaired or invalidated, and to the extent permitted by applicable
Law, any such provision will be restricted in applicability or reformed to the
minimum extent required for such provision to be enforceable. This provision
will be interpreted and enforced to give effect to the original written intent
of the parties prior to the determination of such invalidity or
unenforceability.

[The remainder of the page left intentionally blank.]

11

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and delivered effective as of the date first above written.

	 	 	 	 	 
	 	AMERICAN LAWYER MEDIA HOLDINGS, INC.

 	 
	 	By:  	/s/ Allison
Hoffman

	 
	 	 	Name:  	Allison Hoffman 	 
	 	 	Title:  	Vice President

 	 
	 

	 	 	 	 	 
	 	TRUSTEES OF THE CRANBERRY DUNE 1998

LONG-TERM TRUST

 	 
	 	By:  	/s/ Ellis Jones

	 
	 	 	Name:  	Ellis Jones 	 
	 	 	Title:  	Trustee 	 
	 

	 	 	 	 	 
	 	DESCENDANTS’ TRUST LLC

 	 
	 	By:  	/s/ Ellis Jones

	 
	 	 	Name:  	Ellis Jones 	 
	 	 	Title:  	Manager 	 

12

 

	 	 	 	 	 

	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Alpha US Sub Fund II, LLC

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

DB Structured Products, Inc.

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Goldentree High Yield Master Fund, Ltd.

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Goldentree High Yield Master Fund II, Ltd.

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Delphi Financial Group Inc.

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 

 

 

	 	 	 	 	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Safety National Casualty Corporation

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Stichting Bedrijfstakpeneonfonds voor

de Mataal en Technische Bedrijfstakken

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Duke University Long Term Pool

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Eugenia II Investment Holdings Ltd

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to GoldenTree

High Yield Value Master Fund, LP

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 

2

 

	 	 	 	 	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

GKW Unified Holdings, LLC

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Stichting Pensioenfonds Hoogovens

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to Houston

Municipal Employees Pension System

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

The Municipal Fire and Police

Retirement System of Iowa

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Reliance Standard Life Insurance Company

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 

3

 

	 	 	 	 	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

Stichting Bedrijfstakpeneonfonds voor

de Matelektro

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

The University of Chicago

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 
	 
	 	 	 	 	 
	 	GoldenTree Asset Management, LP as

investment adviser to

The Winnick Family Foundation

 	 
	 	By:  	/s/ Thomas Shandell

	 
	 	 	Name:  	Thomas Shandell 	 
	 	 	Title:  	Portfolio Manager 	 

4

 

\

	 	 	 	 	 

SCHEDULE 1

Buyers

	 	 	 	 	 	 	 	 	 	 
	 	 	Buyer’s Portion Allocated by:
	 	 	Principal amount of	 	Percent of Principal
	Buyer’s Name
	 	bonds at maturity ($000’s)
	 	Amount at maturity

	Alpha US Sub Fund II, LLC
	 	 	$	430	 	 	 	1.05	%
	DB Structured Products, Inc.
	 	 	 	1,170	 	 	 	2.85	%
	Goldentree High Yield Master Fund, Ltd.
	 	 	 	18,355	 	 	 	44.77	%
	Goldentree High Yield Master Fund II, Ltd.
	 	 	 	4,250	 	 	 	10.37	%
	Delphi Financial Group Inc.
	 	 	 	245	 	 	 	0.60	%
	Safety National Casualty Corporation
	 	 	 	350	 	 	 	0.85	%
	Stichting Bedrijfstakpeneonfonds voor de
Mataal en Technishe Bedrijfstakken
	 	 	 	3,470	 	 	 	8.46	%
	Delphi Financial Group Inc. Long Only
	 	 	 	1,100	 	 	 	2.68	%
	Eugenia II Investment Holdings LTD
	 	 	 	510	 	 	 	1.24	%
	Goldentree High Yield Value Master Fund, LP
	 	 	 	4,205	 	 	 	10.26	%
	GKW Unified Holdings, LLC
	 	 	 	520	 	 	 	1.27	%
	Stichting Pensioenfonds Hoogovens
	 	 	 	790	 	 	 	1.93	%
	Houston Municipal Employees Pension System
	 	 	 	405	 	 	 	0.99	%
	The Municipal Fire and Police Retirement
of Iowa
	 	 	 	475	 	 	 	1.16	%
	Reliance Standard Life Insurance Company
	 	 	 	327	 	 	 	0.80	%
	Stichting Bedrijfstakpeneonfonds voor de
Matelektro
	 	 	 	3,770	 	 	 	9.20	%
	The University of Chicago
	 	 	 	530	 	 	 	1.29	%
	The Winnick Family Foundation
	 	 	 	95	 	 	 	0.23	%
	 
	 	 	 	
 	 	 	 	
 	 
	 
	 	 	 	40,997	 	 	 	100.00	%

S-1

 

 

SCHEDULE 2

Valuation Table

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Consideration, as a
	 	 	 	 	 	 	Buyers’ Aggregate	 	 	 	 	 	percentage of
	Closing	 	Accreted Value	 	Portion of	 	Consideration	 	Principal Amount at
	Date
	 	Of Discount Notes
	 	Accreted Value
	 	on Closing Date
	 	Maturity

	16-Dec-03
	 	$	71,287,817.55	 	 	$	36413817.20	 	 	$	29,859,330.11	 	 	 	72.83	%
	17-Dec-03
	 	 	71,312,066.96	 	 	 	36426203.80	 	 	 	29,869,487.12	 	 	 	72.86	%
	18-Dec-03
	 	 	71,336,316.37	 	 	 	36438590.40	 	 	 	29,879,644.13	 	 	 	72.88	%
	19-Dec-03
	 	 	71,360,565.78	 	 	 	36450977.00	 	 	 	29,889,801.14	 	 	 	72.91	%
	20-Dec-03
	 	 	71,384,815.19	 	 	 	36463363.60	 	 	 	29,899,958.15	 	 	 	72.93	%
	21-Dec-03
	 	 	71,409,064.59	 	 	 	36475750.19	 	 	 	29,910,115.16	 	 	 	72.96	%
	22-Dec-03
	 	 	71,433,314.00	 	 	 	36488136.79	 	 	 	29,920,272.17	 	 	 	72.98	%
	23-Dec-03
	 	 	71,457,563.41	 	 	 	36500523.39	 	 	 	29,930,429.18	 	 	 	73.01	%
	24-Dec-03
	 	 	71,481,812.82	 	 	 	36512909.99	 	 	 	29,940,586.19	 	 	 	73.03	%
	25-Dec-03
	 	 	71,506,062.23	 	 	 	36525296.59	 	 	 	29,950,743.20	 	 	 	73.06	%
	26-Dec-03
	 	 	71,530,311.64	 	 	 	36537683.18	 	 	 	29,960,900.21	 	 	 	73.08	%
	27-Dec-03
	 	 	71,554,561.05	 	 	 	36550069.78	 	 	 	29,971,057.22	 	 	 	73.11	%
	28-Dec-03
	 	 	71,578,810.45	 	 	 	36562456.38	 	 	 	29,981,214.23	 	 	 	73.13	%
	29-Dec-03
	 	 	71,603,059.86	 	 	 	36574842.98	 	 	 	29,991,371.24	 	 	 	73.15	%
	30-Dec-03
	 	 	71,627,309.27	 	 	 	36587229.58	 	 	 	30,001,528.25	 	 	 	73.18	%
	31-Dec-03
	 	 	71,651,558.68	 	 	 	36599616.17	 	 	 	30,011,685.26	 	 	 	73.20	%
	1-Jan-04
	 	 	71,675,808.09	 	 	 	36612002.77	 	 	 	30,021,842.27	 	 	 	73.23	%
	2-Jan-04
	 	 	71,700,057.50	 	 	 	36624389.37	 	 	 	30,031,999.28	 	 	 	73.25	%
	3-Jan-04
	 	 	71,724,306.91	 	 	 	36636775.97	 	 	 	30,042,156.29	 	 	 	73.28	%
	4-Jan-04
	 	 	71,748,556.31	 	 	 	36649162.57	 	 	 	30,052,313.30	 	 	 	73.30	%
	5-Jan-04
	 	 	71,772,805.72	 	 	 	36661549.16	 	 	 	30,062,470.31	 	 	 	73.33	%
	6-Jan-04
	 	 	71,797,055.13	 	 	 	36673935.76	 	 	 	30,072,627.32	 	 	 	73.35	%
	7-Jan-04
	 	 	71,821,304.54	 	 	 	36686322.36	 	 	 	30,082,784.33	 	 	 	73.38	%
	8-Jan-04
	 	 	71,845,553.95	 	 	 	36698708.96	 	 	 	30,092,941.34	 	 	 	73.40	%
	9-Jan-04
	 	 	71,869,803.36	 	 	 	36711095.55	 	 	 	30,103,098.36	 	 	 	73.43	%
	10-Jan-04
	 	 	71,894,052.77	 	 	 	36723482.15	 	 	 	30,113,255.37	 	 	 	73.45	%
	11-Jan-04
	 	 	71,918,302.17	 	 	 	36735868.75	 	 	 	30,123,412.38	 	 	 	73.48	%
	12-Jan-04
	 	 	71,942,551.58	 	 	 	36748255.35	 	 	 	30,133,569.39	 	 	 	73.50	%
	13-Jan-04
	 	 	71,966,800.99	 	 	 	36760641.95	 	 	 	30,143,726.40	 	 	 	73.53	%
	14-Jan-04
	 	 	71,991,050.40	 	 	 	36773028.54	 	 	 	30,153,883.41	 	 	 	73.55	%
	15-Jan-04
	 	 	72,015,299.81	 	 	 	36785415.14	 	 	 	30,164,040.42	 	 	 	73.58	%
	16-Jan-04
	 	 	72,039,549.22	 	 	 	36797801.74	 	 	 	30,174,197.43	 	 	 	73.60	%
	17-Jan-04
	 	 	72,063,798.63	 	 	 	36810188.34	 	 	 	30,184,354.44	 	 	 	73.63	%
	18-Jan-04
	 	 	72,088,048.03	 	 	 	36822574.94	 	 	 	30,194,511.45	 	 	 	73.65	%
	19-Jan-04
	 	 	72,112,297.44	 	 	 	36834961.53	 	 	 	30,204,668.46	 	 	 	73.68	%
	20-Jan-04
	 	 	72,136,546.85	 	 	 	36847348.13	 	 	 	30,214,825.47	 	 	 	73.70	%
	21-Jan-04
	 	 	72,160,796.26	 	 	 	36859734.73	 	 	 	30,224,982.48	 	 	 	73.72	%
	22-Jan-04
	 	 	72,185,045.67	 	 	 	36872121.33	 	 	 	30,235,139.49	 	 	 	73.75	%

S-1

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Consideration, as a
	 	 	 	 	 	 	Buyers’ Aggregate	 	 	 	 	 	percentage of
	Closing	 	Accreted Value	 	Portion of	 	Consideration	 	Principal Amount at
	Date
	 	Of Discount Notes
	 	Accreted Value
	 	on Closing Date
	 	Maturity

	23-Jan-04
	 	 	72,209,295.08	 	 	 	36884507.93	 	 	 	30,245,296.50	 	 	 	73.77	%
	24-Jan-04
	 	 	72,233,544.49	 	 	 	36896894.52	 	 	 	30,255,453.51	 	 	 	73.80	%
	25-Jan-04
	 	 	72,257,793.90	 	 	 	36909281.12	 	 	 	30,265,610.52	 	 	 	73.82	%
	26-Jan-04
	 	 	72,282,043.30	 	 	 	36921667.72	 	 	 	30,275,767.53	 	 	 	73.85	%
	27-Jan-04
	 	 	72,306,292.71	 	 	 	36934054.32	 	 	 	30,285,924.54	 	 	 	73.87	%
	28-Jan-04
	 	 	72,330,542.12	 	 	 	36946440.92	 	 	 	30,296,081.55	 	 	 	73.90	%
	29-Jan-04
	 	 	72,354,791.53	 	 	 	36958827.51	 	 	 	30,306,238.56	 	 	 	73.92	%
	30-Jan-04
	 	 	72,379,040.94	 	 	 	36971214.11	 	 	 	30,316,395.57	 	 	 	73.95	%
	31-Jan-04
	 	 	72,403,290.35	 	 	 	36983600.71	 	 	 	30,326,552.58	 	 	 	73.97	%
	1-Feb-04
	 	 	72,427,539.76	 	 	 	36995987.31	 	 	 	30,336,709.59	 	 	 	74.00	%
	2-Feb-04
	 	 	72,451,789.16	 	 	 	37008373.90	 	 	 	30,346,866.60	 	 	 	74.02	%
	3-Feb-04
	 	 	72,476,038.57	 	 	 	37020760.50	 	 	 	30,357,023.61	 	 	 	74.05	%
	4-Feb-04
	 	 	72,500,287.98	 	 	 	37033147.10	 	 	 	30,367,180.62	 	 	 	74.07	%
	5-Feb-04
	 	 	72,524,537.39	 	 	 	37045533.70	 	 	 	30,377,337.63	 	 	 	74.10	%
	6-Feb-04
	 	 	72,548,786.80	 	 	 	37057920.30	 	 	 	30,387,494.64	 	 	 	74.12	%
	15-Dec-04
	 	 	80,260,704.97	 	 	 	40997168.10 	 (1)	 	 	 	 	 	 	82.00	%

Notes:

(1) This figure is referred as the “aggregate principal amount at maturity” to
be purchased by the buyers in this Agreement and will be rounded down to a
40,997 bonds with a denomination of $1,000 each for this transaction.

S-2

 

SCHEDULE 3

Sellers

	 	 	 	 	 	 	 
	 	 	 	 	Proportion of
	 	 	 	 	Transferred
	Name of Holder
	 	Contact Information
	 	Accreted Value

	Cranberry Dune 1998

	 	1301 Avenue of the
	 	 	66	%
	Long-Term Trust

	 	Americas, 44th Floor	 	 	 	 
	

	 	New York, NY 10019	 	 	 	 
	

	 	Attn: Ellis Jones	 	 	 	 
	

	 	Phone: 212-702-5652	 	 	 	 
	

	 	Facsimile No: 212-702-5635	 	 	 	 
	 
	 	 	 	 	 	 
	Descendants’ Trust

	 	1301 Avenue of the
	 	 	34	%
	LLC

	 	Americas, 44th Floor	 	 	 	 
	

	 	New York, NY 10019	 	 	 	 
	

	 	Attn: Ellis Jones	 	 	 	 
	

	 	Phone: 212-702-5652	 	 	 	 
	

	 	Facsimile No: 212-702-5635	 	 	 	 

S-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00063-of-00352.parquet"}]]