Document:

Exhibit 4.2

    

     

    

    ACCREDITED INVESTORS

    

    

    NEITHER THIS WARRANT NOR ANY SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY
      STATE SECURITIES LAWS AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS.

    

    

    WARRANT TO PURCHASE COMMON UNITS

    OF

    CROSSFIRST HOLDINGS, LLC

    

    

    	
            No. [●]

          	
            Warrant Issue Date: [●]

          

    

    

    CrossFirst Holdings, LLC, a Kansas limited liability company (the “Company”), hereby certifies that, for value received, the person listed below (the
      “Holder”) is entitled, subject to the terms set forth in this Warrant Agreement (this “Warrant”), to purchase from the Company during the Exercise Period, in whole or in part, up to [●] (●) Common Units of the Company determined in accordance with
      the provisions of this Warrant at the applicable Exercise Price. The number and character of such Common Units and the applicable Exercise Price are subject to adjustment as provided in this Warrant.

     

    

    	 	
            Name:

          	 
	 	
            Address:

          	 
	 	 	 
	 	 	 

    

    

    ARTICLE I

    DEFINITIONS

    

    

    As used in this Warrant, the following terms have the following meanings:

    

    

    “Change of Control” means, directly or indirectly, any consolidation or merger of the Company with or into any other entity or person, or any other
      reorganization, in which the Members of the Company immediately prior to such consolidation, merger or reorganization, own less than fifty percent (50%) of the resulting or surviving entity’s voting power immediately after such consolidation, merger
      or reorganization, or any transaction or series of transactions to which the Company is a party in which more than fifty percent (50%) of the Company’s voting power is transferred (excluding any merger or consolidation effected exclusively to change
      the domicile of the Company), or the sale, lease, or other disposition of all or substantially all of the assets of the Company.

    

    

    “Common Units” means the Common Units issued by the Company, as defined in the Operating Agreement.

    

    

    “Exercise Period” has the meaning set forth in Section 2.1(a).

    

    

    
      1

      
        

    

    “Exercise Price” means U.S. $10.00 per Common Unit, subject to any adjustment set forth in Article IV.

    

    

    “Holder” has the meaning in the introductory paragraph of this Warrant. “Holder Representatives” has the meaning set forth in Section 2.1(c). “Member
      Schedule” has the meaning set forth in the Operating Agreement.

    

    

    “Operating Agreement” means the Operating Agreement of the Company, dated as of September 1, 2008, as amended, modified, supplemented or otherwise
      changed from time to time.

    

    

    “Purchase Price” has the meaning set forth in Section 2.1(b).

    

    

    “Securities Act” has the meaning set forth in Section 7.3.

    

    

    “Units” has the meaning set forth in the Operating Agreement.

    

    

    ARTICLE II

    EXERCISE OF WARRANT

    

    

    2.1.          Exercise Period and Procedure.

    

    

    (a)          This Warrant is exercisable by the Holder, in whole or in
        part, at any time and from time to time during the period (the “Exercise Period”) beginning on the Warrant Issue Date and ending on the earlier of (i) 5:00 p.m. Overland Park, Kansas local time on [●], or (ii) a Change of Control.

    

    

    (b)          During the Exercise Period, the Holder may exercise this
        Warrant, in whole or in part, by (i) surrendering to the Company at its principal executive office this Warrant, together with a duly completed and executed form of Notice of Exercise in the form attached as Annex
          A and (i) paying to the Company in immediately available funds (cash, certified or official bank check or wire transfer) an amount (the “Purchase Price”) equal to the Exercise Price multiplied by the number of Common Units being purchased
        pursuant to the exercise of this Warrant.

    

    

    (c)          If any individual Holder of this Warrant dies before the
        end of the Exercise Period, the deceased Holder’s personal representative, trustee, heirs or successors (“Holder Representatives”) will have the right to exercise this Warrant, subject to the terms and conditions set forth herein.

    

    

    (d)          This Warrant is non-compensatory and granted in connection
        with the Holder’s investment in the Company. In the event of the termination of employment of any individual Holder of this Warrant or termination of the Holder’s service as a director prior to the end of the Exercise Period, the terminated Holder
        will continue to have the right to exercise this Warrant, subject to the terms and conditions set forth herein.

    

    

    2.2.          Partial Exercise. To the
        extent that this Warrant is exercised for less than the full number of Common Units subject to this Warrant, the Company will issue to the Holder a new Warrant or Warrants of like tenor exercisable for the number of Common Units as to which rights
        have not been exercised, such Warrant or Warrants to be issued in the name of the Holder hereof (or, if applicable, to the Holder’s personal representative, trustee, heirs or successors). The Company will pay all expenses, taxes and other charges
        payable in connection with the preparation, issuance and delivery of any new Warrants.

    

    

    
      2

      
        

    

    ARTICLE III

    MEMBER SCHEDULE UPDATE ON EXERCISE

    

    

    Concurrent with the exercise, in whole or in part, of this Warrant and payment of the Exercise Price, the Company will (a) cause the Member Schedule to
      be updated to reflect the issuance of Common Units to the Holder (or Holder’s personal representative, trustee, heirs or successors) and (b) if the Operating Agreement or the Company’s Board of Directors requires the issuance of Unit certificates,
      issue to the Holder (or Holder’s personal representative, trustee, heirs or successors) a certificate or certificates for the number of Common Units to which such Holder is entitled upon such exercise. The Company agrees that the Common Units so
      purchased are deemed to be issued to the Holder (or Holder’s personal representative, trustee, heirs or successors) as the record owner of such Common Units as of the close of business on the date on which this Warrant is surrendered and the Holder
      pays the Company the Purchase Price.

    

    

    ARTICLE IV

    ADJUSTMENTS

    

    

    4.1.          Adjustments Generally. In
        order to prevent dilution of the rights granted hereunder in the specific circumstances contemplated by this Article IV, the number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price are subject to
        adjustment from time to time in accordance with this Article IV. Upon each adjustment of the Exercise Price pursuant to this Article IV, the registered Holder of this Warrant will thereafter be entitled to acquire upon exercise, at the Exercise
        Price resulting from such adjustment, the number of the Company’s Common Units determined by (a) multiplying (i) the Exercise Price in effect immediately prior to such adjustment by (ii) the number of the Company’s Common Units issuable upon
        exercise hereof immediately prior to such adjustment, and (b) dividing the product thereof by the Exercise Price resulting from such adjustment.

    

    

    4.2.          Subdivisions and Combinations.
        If, at any time during the Exercise Period, the Company subdivides its outstanding Common Units into a greater number of Common Units, the Exercise Price in effect immediately prior to such subdivision will be proportionately reduced and, if the
        outstanding Common Units of the Company are combined into a smaller number of Common Units, the Exercise Price in effect immediately prior to such combination will be proportionately increased.

    

    

    4.3.          Reorganization or
          Reclassification. If any capital reorganization or reclassification of the Company (other than a capital reorganization or reclassification that constitutes a Change of Control) is effected in such a way that holders of Common Units are
        entitled to receive membership interests, stock, securities, cash or other property with respect to or in exchange for Common Units, then, as a condition to such reorganization or reclassification, adequate provision is to be made whereby the
        Holder of this Warrant has the right to acquire and receive upon exercise of this Warrant such membership interests, stock, securities, cash or other property that a holder of the Common Units deliverable upon exercise of this Warrant would have
        been entitled to receive in such reorganization or reclassification if this Warrant had been exercised immediately before such reorganization or reclassification. The foregoing provisions will similarly apply to successive reorganizations or
        reclassifications and to the membership interests, stock, securities or other property that are at the time receivable upon the exercise of this Warrant. In all events, appropriate adjustments (as reasonably determined by the Board of Directors of
        the Company) are to be made in the application of the provisions of this Warrant with respect to the rights and interests of the Holder after the transaction, to the end that the provisions of this Warrant will be applicable after that event, as
        near as reasonably may be, in relation to the membership interests, stock, securities or other property deliverable after that event upon exercise of this Warrant.

    

    

    
      3

      
        

    

    4.4.          Adjustment by Board of Directors.
        If any event occurs as to which, in the reasonable opinion of the Board of Directors of the Company, the provisions of this Article IV are not strictly applicable or if strictly applicable would not fairly protect the rights of the Holder of this
        Warrant in accordance with the essential intent and principles of such provisions, then the Board of Directors may make such adjustment in the application of such provisions, in accordance with such essential intent and principles, as it reasonably
        deems appropriate so as to protect such rights, but in no event will any adjustment have the effect of increasing the Exercise Price as otherwise determined pursuant to any of the provisions of this Article IV except in the case of a combination of
        a type contemplated in Section 4.2 and then in no event to an amount larger than the Exercise Price as provided in Section 4.2.

    

    

    4.5.          Certificate as to Adjustments.
        Whenever the Exercise Price is adjusted as provided in Section 4.2, the Company will promptly compute such adjustment and an officer of the Company will furnish to the Holder hereof a certificate providing (i) reasonable detail of the facts
        requiring such adjustment, (ii) the Exercise Price that will be effective after such adjustment, and (iii) the number of Common Units and the amount, if any, of other property that at the time would be received upon the exercise of this Warrant.

    

    

    ARTICLE V

    NO IMPAIRMENT

    

    

    The Company will not, by amendment of its charter or through reorganization, consolidation, merger, dissolution, sale of assets or any other voluntary
      action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate
      in order to protect the rights of the Holder hereof against impairment.

    

    

    ARTICLE VI

    REPLACEMENT OF WARRANT

    

    

    Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and upon delivery of an
      indemnity agreement reasonably satisfactory to the Company (with surety if reasonably required), the Company will issue, in lieu thereof, a new Warrant of like tenor and amount.

    

    

    
      4

      
        

    

    ARTICLE VII

    NEGOTIABILITY

    

    

    7.1.          Owner of Warrant. The Company
        may deem and treat the person in whose name this Warrant is registered as the Holder and owner hereof (notwithstanding any notations of ownership or writing hereon made by anyone other than the Company) for all purposes and will not be affected by
        any notice to the contrary, until presentation of this Warrant for registration of transfer as provided below.

    

    

    7.2.          Transfer of Warrant. Subject
        to Sections 7.3, 7.4 and 7.5, upon the approval of the Company’s Board of Directors, the Holder may transfer this Warrant and all rights hereunder, in whole or in part, by surrendering this Warrant to the Company and delivering a duly completed and
        executed written assignment in the form attached as Annex B. The Holder must also provide the Company immediately available funds sufficient to pay any transfer taxes payable upon the
        making of such transfer. Upon such surrender and payment, the Company will execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and this Warrant
        will promptly be canceled.

    

    

    7.3.          Restrictions on Exercise and
          Transfer. Neither this Warrant nor the Common Units issuable on exercise of this Warrant have been registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any applicable state securities laws. In order to, among
        other things, ensure compliance with the Securities Act and applicable state securities laws, notwithstanding anything else in the Warrant to the contrary, this Warrant and the Common Units which may be issued upon the exercise hereof, may not be
        exercised, sold, assigned, pledged, hypothecated or otherwise transferred in the absence of (i) an effective registration statement or post-effective amendment thereto for such Warrant, or Common Units, respectively, under the the Securities Act
        and applicable state securities laws, or (ii) Holder’s delivery to the Company of an opinion of counsel, satisfactory to the Company and the Company’s legal counsel, that an exemption from the registration requirements of the Securities Act and
        applicable state securities laws is available.

    

    

    7.4.          Legend of Units. The Company
        does not anticipate issuing any certificates representing ownership of Common Units. Instead, the Company maintains a Member Schedule reflecting each Unit holder’s Capital Contributions, mailing address and Membership Units held. If the Company, in
        its sole discretion, determines upon the exercise of this Warrant to issue a certificate for Common Units, such certificate must bear substantially the following legend (and any additional legend required under the Securities Act or applicable
        state securities laws) unless at the time of exercise such Common Units are registered under the Securities Act and applicable state securities laws:

    

    

    THE COMMON UNITS REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE
      SECURITIES LAWS. THESE UNITS HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED, WHETHER OR NOT FOR CONSIDERATION, WITHOUT AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO CROSSFIRST HOLDINGS, LLC THAT SUCH REGISTRATION IS NOT REQUIRED WITH RESPECT TO THE PROPOSED DISPOSITION THEREOF AND THAT SUCH
      DISPOSITION WILL NOT CAUSE THE LOSS OF THE EXEMPTION UPON WHICH CROSSFIRST HOLDINGS RELIED IN SELLING THESE UNITS TO THE ORIGINAL PURCHASER THEREOF.

    

    

    
      5

      
        

    

    Any certificate issued at any time in exchange or substitution for any certificate bearing such legend (except a new certificate issued upon completion
      of a public distribution pursuant to a registration statement under the Securities Act and applicable state securities laws of the securities represented thereby) must also bear such legend unless, in the opinion of counsel for the Company, the
      securities represented thereby need no longer be subject to the transfer restrictions contained in this Warrant. The exercise and transfer restriction provisions of this Warrant are binding upon the subsequent Holders of the Warrant.

    

    

    7.5.          Transfer Taxes. The Company
        is not required to pay any U.S. federal or state transfer tax or charge that may be payable in connection with the transfer or delivery of this Warrant or the issuance or conversion or delivery of certificates for Common Units in a name other than
        that of the registered Holder of this Warrant or to issue or deliver any certificates for Common Units upon the exercise of this Warrant until any and all such taxes and charges shall have been paid by the Holder of this Warrant or until it has
        been established to the Company’s reasonable satisfaction that no such tax or charge is due.

    

    

    7.6.          No Rights as Member. Prior to
        the exercise of this Warrant, the Holder is not entitled to any rights of a Member of the Company with respect to Common Units for which this Warrant is exercisable, including, without limitation, the right to vote or to receive distributions and
        is not entitled to receive any notice of any proceedings of the Company; provided, however, the Company will provide any information that the Holder reasonably requests in connection with the Holder’s determination to exercise this Warrant.

    

    

    7.7.          Operating Agreement. Any
        Common Units issued under this Warrant are subject to the Operating Agreement and the restrictions and limitations provided for thereunder. A copy of the Operating Agreement may be obtained from the Company prior to the Holder’s exercise of this
        Warrant.

    

    

    7.8.          Compliance with Banking
          Regulatory Authorities. Notwithstanding anything else in this Warrant to the contrary, if the Company’s capital or the capital of any depository institution owned by the Company falls below the minimum requirements established by the
        applicable state or primary federal regulators, the Company shall, to the extent required by any such regulator, require the Holder to either exercise his or her Warrant or cause the Holder to forfeit the Warrant.

    

    

    
      6

      
        

    

    ARTICLE VIII

    SUBDIVISION OF RIGHTS

    

    

    This Warrant (as well as any new Warrants issued pursuant to the provisions of this Article VIII) is exchangeable, upon the surrender by the Holder to
      the Company, for any number of new Warrants of like tenor and date representing in the aggregate the right to subscribe for and purchase the number of Common Units of the Company which may be subscribed for and purchased under this Warrant.

    

    

    ARTICLE IX

    REPRESENTATIONS AND WARRANTIES

    

    

    The Holder hereby represents and warrants to, and covenants and agrees with, the Company as follows:

    

    

    9.1.          Accredited Investor. The
        Holder qualifies as an Accredited Investor as defined in Rule 501(a) of Regulation D promulgated by the Securities and Exchange Commission and has such knowledge and experience in financial and business matters to enable the Holder to evaluate the
        merits and risks of an investment in the Common Units available upon exercise of this Warrant.

    

    

    9.2.          Adequate Means. The Holder
        (i) has adequate means of providing for his or her current needs and possible personal contingencies, (ii) has no need for liquidity in this investment, (iii) believes that the nature and amount of such investment is suitable for the Holder and
        consistent with the Holder’s overall investment program and financial position, (iv) believes that the undersigned’s overall commitment to investments which are not readily marketable is not disproportionate to the Holder’s net worth and the
        investment in the Common Units available upon exercise of this Warrant will not cause such overall investment commitment to become excessive, (v) is under no present or contemplated future need to dispose of this Warrant or any of the Common Units
        available upon exercise of this Warrant to satisfy any existing or contemplated undertaking, need or indebtedness, (vi) is able to bear the economic risks of his or her investment in the Common Units available upon exercise of this Warrant, and
        (vii) at the present time, can afford a complete loss of such investment.

    

    

    9.3.          Warrant Acquired Without View to
          Resell. This Warrant is being acquired (i) solely for investment for the Holder’s own account and not as nominee or agent or otherwise on behalf of any other person, and (ii) not with a view to or with any present intention to re-offer,
        resell, fractionalize, assign, grant any participation interest in, or otherwise distribute the Warrant or the Common Units available upon exercise of this Warrant.

    

    

    9.4.          Beneficial Owner. The Holder
        will be the beneficial owner of the interest in the Company represented by this Warrant, meaning that no other person or entity other than a disclosed co-owner will have an interest in the Warrant.

    

    

    9.5.          Substantial Risk. The Holder
        recognizes that an investment in the Company involves substantial risk and the Holder is fully cognizant of and understands all of the risk factors related to this Warrant and the purchase of Common Units upon exercise of this Warrant.

    

    

    
      7

      
        

    

    9.6.          Delivery of Information. The
        Holder has been provided with all requested materials and information, including any information requested to verify the information furnished, and there has been direct communication between the Company and its representatives on the one hand and
        the Holder and the Holder’s representatives, if any, on the other in connection with the information set forth herein. There has been made available to both the Holder and any advisors of the Holder the opportunity to ask questions of, and receive
        answers from the Company and the officers and employees of Company concerning the terms and conditions of this Warrant and to obtain any additional information deemed necessary to verify the accuracy of the information contained herein.

    

    

    9.7.          Correct Information. All
        information which the Holder has provided to the Company is correct and complete as of the date set forth below, and if there should be any material change in such information prior to the acceptance of the Holder’s subscription, the Holder will
        immediately provide such information to the Company.

    

    

    9.8.          Securities Restrictions. The
        Holder understands that this Warrant and the Common Units issuable upon exercise of this Warrant have not been registered under the Securities Act and applicable state securities laws by reason of a specific exemption from the registration
        provisions of the Securities Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such Holder’s representations as expressed herein. The Holder understands that this Warrant and the Common
        Units issuable upon exercise of this Warrant will be “restricted securities” under applicable securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and
        applicable regulations the Warrant and the Common Units issuable upon exercise of this Warrant may be resold without registration under the Securities Act and applicable state securities laws only in certain limited circumstances. The Holder
        acknowledges that the Warrant and the Common Units issuable upon exercise of this Warrant must be held indefinitely unless subsequently registered under the Securities Act and applicable state securities laws or an exemption from such registration
        is available. The Holder is aware of the provisions of Rule 144 promulgated under the Securities Act, which permit limited resale of securities purchased in a private placement subject to the satisfaction of certain conditions.

    

    

    9.9.          No Public Market. The Holder
        understands that no public market now exists for any of the securities issued by the Company and that there is no assurance that any public market will ever exist for the securities.

    

    

    ARTICLE X

    MISCELLANEOUS

    

    

    10.1.          Notices. Any notice required
        or permitted by this Warrant must be in writing and will be deemed sufficient upon delivery, when delivered personally or by a nationally-recognized delivery service (such as Federal Express or UPS), or forty-eight (48) hours after being deposited
        in the U.S. mail, as certified or registered mail, with postage prepaid, addressed to the party to be notified at such party’s address as set forth in this Warrant or as subsequently modified by written notice delivered in accordance with this
        Section 10.1.

    

    

    
      8

      
        

    

    10.2.          Headings. The headings in
        this Warrant are for purposes of reference only, and do not limit or otherwise affect the meaning thereof.

    

    

    10.3.          Amendment; Waiver. This
        Warrant and any term hereof may be amended, waived, discharged or terminated only by an instrument in writing signed by the party against whom enforcement of such amendment, waiver, discharge or termination is sought. No waivers of any term,
        condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of any such term, condition or provision.

    

    

    10.4.          Governing Law. This Warrant
        shall be construed and interpreted according to the laws of the State of Kansas, without giving effect to any of the conflicts of laws provisions thereof that would compel the application of the substantive laws of any other jurisdiction.

    

    

    
      9

      
        

    

    IN WITNESS WHEREOF, the Company has executed and issued this Warrant on the date first written above.

    

    

    	 	
            CROSSFIRST HOLDINGS, LLC

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    CrossFirst Holdings, LLC Common Unit Warrant — Company Signature Page

    
      
        

    

    If an Holder is an Individual (please sign full name):

    

    

    The party or parties below execute this Warrant as of the date first written above.

    

    

    	 	 	 
	
            Name (please print)

          	 	 

    

    

    CrossFirst Holdings, LLC Common Unit Warrant — Individual Signature Page

    
      
        

    

    If Holder is a Corporation, Limited Liability Company or other type of entity:

    

    

    The party below executes this Warrant as of the date first written above.

    

    

    	
            Name of Member:

          	 	 
	 	 	 
	
            Type of Entity:

          	 	 
	 	 	 
	
            By:

          	 	 
	 	
            (signature of authorized person)

          	 
	 	 	 
	
            Name:

          	 	 
	 	 	 
	
            Title:

          	 	 

    

    

    CrossFirst Holdings, LLC Common Unit Warrant — Entity Signature Page

    
      
        

    

    If a Holder is a Trust (Keogh, Employee Pension or Profit-Sharing Trust) or an IRA:

    

    

    The party or parties below execute this Warrant as of the date first written above.

    

    

    Please print the exact name of the Holder below:

    

    

    	 
	 
	
            By

          	 	 	
            By:

          	 	 
	
            Signature of Trustee or Other Fiduciary

          	 	
              Signature of Co-Trustee or Other Co-Fiduciary*

          
	 	 	 	 	 
	 	 	 	 	 
	
            Print Name of Trustee or Other

          	 	
            Print Name of Co-Trustee or Other

          
	
            Fiduciary:

          	 	 	
            Co-Fiduciary*:

          	 
	 	 	 	 	 
	 	 	 	 
	
            Street Address (Mailing Address)

          	 	
            City, State, Zip Code

          
	 	 	 	 	 
	 	 	 	 	 
	
            Telephone Number

          	 	 	 
	 	 	 	 	 
	 	 	 	 	 
	
            Federal Tax I.D. Number of Trust (Leave Blank

            if Subscriber is an IRA)

          	 	 	 
	 	 	 	
            IF MEMBER IS AN IRA, THE

          
	 	 	 	
            GRANTOR OF THE IRA-RELATED TRUST

          
	
            Personal Social Security Number of Plan

          	 	
            MUST ALSO SIGN THIS AGREEMENT IN THE SPACE BELOW:

          
	
            Beneficiary or Participant or IRA Grantor/

            Beneficiary

          	 	 	 
	 	 
	 	 	 	
            Signature of Grantor

          
	 	 	 	 	 
	 	 	 	
            Print Name of Grantor:

          	 

    

    

    CrossFirst Holdings, LLC Common Unit Warrant — IRA/Trust Signature Page

    

    
      
        

    

    WARRANT - ANNEX A

    

    

    NOTICE OF EXERCISE

    

    

    [To be signed only upon exercise of Warrant]

    

    

    Date: ____________

    

    

    	
            To:

          	 	 

    

    

    The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby irrevocably elects to purchase ________ Common Units (the “Common
      Units”) covered by such Warrant and herewith makes payment of $______, representing the full purchase price for such Common Units at the price per Common Unit provided for in such Warrant.

    

    

    The undersigned is aware that the Common Units have not been registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or any
      state securities laws. The undersigned understands that the reliance by the Company on exemptions under the 1933 Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Notice of Exercise.

    

    

    The undersigned represents and warrants that the undersigned (1) has been furnished with all information which the undersigned deems necessary to
      evaluate the merits and risks of the purchase of the Common Units; (2) has had the opportunity to ask questions concerning the Common Units and the Company and all questions posed have been answered to the undersigned’s satisfaction; (3) has been
      given the opportunity to obtain any additional information the undersigned deems necessary to verify the accuracy of any information obtained concerning the Common Units and the Company; and (4) has such knowledge and experience in financial and
      business matters that the undersigned is able to evaluate the merits and risks of purchasing the Common Units and to make an informed investment decision relating thereto.

    

    

    The undersigned hereby represents and warrants that the undersigned is purchasing the Common Units for his, her or its own account and not with a view to
      the sale or distribution of all or any part of the Common Units.

    

    

    The undersigned understands that because the Common Units have not been registered under the 1933 Act, the undersigned must continue to bear the economic
      risk of the investment for an indefinite time and the Common Units cannot be sold unless the Common Units are subsequently registered under applicable federal and state securities laws or an exemption from such registration is available.

    

    

    The undersigned agrees not to sell or distribute or otherwise dispose of all or any part of the Common Units unless (1) there is an effective
      registration statement under the 1933 Act and applicable state securities laws covering any such transaction involving the Common Units or (2) the Company receives an opinion of legal counsel to the undersigned (concurred in by legal counsel for the
      Company) stating that such transaction is exempt from registration or the Company otherwise satisfies itself that such transaction is exempt from registration.

    

    

    Annex A — Notice of Exercise

    
      
        

    

    The undersigned consents to the placing of a legend on the certificate for the Common Units stating that the Common Units have not been registered and
      setting forth the restriction on transfer contemplated hereby and the restrictions on transfer and voting set forth in the Warrant and to the placing of a stop transfer order on the books of the Company and with any transfer agents against the Common
      Units until the Common Units may be legally resold or distributed without restriction.

    

    

    The undersigned understands that the Common Units are subject to an Operating Agreement and that the undersigned, in connection with exercising this
      Warrant, will execute such Operating Agreement (to the extent that that undersigned is not already a Member of the Company) and agree to be subject to the terms and conditions thereunder.

    

    

    The undersigned has considered the U.S. federal and state income tax implications of the exercise of the Warrant and the purchase and subsequent sale of
      the Common Units.

    

    

    	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    Date: ___________

    

    

    Annex A — Notice of Exercise

    

    
      
        

    

    WARRANT - ANNEX B

    

    

    FORM OF ASSIGNMENT

    

    

    FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

    

    

    	 	 
	
            (Name)

          	 
	 	 
	 	 
	 	 
	 	 
	
            (Address)

          	 
	 	 

    the attached Warrant, together with all right, title and interest therein to purchase Common Units of CrossFirst Holdings, LLC, a Kansas limited liability company (the
      “Company”), and does hereby irrevocably appoint    as attorney-in-fact to transfer the Warrant on the books of the Company with full power of substitution in the premises.

    

    

    Dated: ____________, _____

    

    

    	 	 	 
	 	
            (signature)

          	 
	 	 	 
	 	
            Name:

          	 
	 	
            Title (if applicable):

          	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
            

            

          	(Address) 

          	 

    

    

    Annex B — Form of AssignmentExhibit

EXHIBIT 4.1 

NINTH SUPPLEMENTAL INDENTURE, dated as of May 31, 2019 (the “Ninth Supplemental Indenture”) between Meritage Homes Corporation, a corporation organized under the laws of the State of Maryland (the “Issuer”), the Guarantors named therein, Meritage Insurance Agency, Inc., a corporation organized under the laws of the State of Arizona (the “Additional Guarantor”), and Regions Bank, as successor trustee (the “Successor Trustee”) under the Indenture (as defined below).  Capitalized terms used and not defined herein shall have the same meanings given in the Indenture unless otherwise indicated.
WHEREAS, the Issuer, the Guarantors thereto and the Trustee are parties to that certain Indenture dated as of April 13, 2010 (the “Indenture”) pursuant to which the Company issued its 7.15% Senior Notes due 2020 (the “Notes”) and the Guarantors guaranteed the obligations of the Issuer under the Indenture and the Notes;
WHEREAS, pursuant to Section 4.08 of the Indenture, if the Issuer acquires or creates any additional subsidiary which is a Restricted Subsidiary, each such subsidiary shall execute and deliver a supplemental indenture pursuant to which such subsidiary shall unconditionally guaranty the Issuer’s obligations under the Notes;
WHEREAS, the Issuer, the Guarantors thereto, Meritage Homes of North Carolina, Inc., and the Trustee are parties to the First Supplemental Indenture, dated as of April 6, 2011, pursuant to which Meritage Homes of North Carolina, Inc. was added as a Guarantor;
WHEREAS, the Issuer, the Guarantors thereto, Carefree Title Agency, Inc., and the Trustee are parties to the Second Supplemental Indenture, dated as of February 14, 2012, pursuant to which Carefree Title Agency, Inc. was added as a Guarantor;
WHEREAS, the Issuer, the Guarantors thereto, M&M Fort Myers Holdings, LLC, and the Trustee are parties to the Third Supplemental Indenture, dated as of March 7, 2012, pursuant to which M&M Fort Myers Holdings, LLC was added as a Guarantor;
WHEREAS, the Issuer, the Guarantors thereto, Meritage Homes of Florida Realty LLC and the Trustee are parties to the Fourth Supplemental Indenture, dated as of August 21, 2012, pursuant to which Meritage Homes of Florida Realty LLC was added as a Guarantor; 
WHEREAS, the Issuer, the Guarantors thereto, Meritage Homes of Tennessee, Inc., and the Trustee are parties to the Fifth Supplemental Indenture, dated as of September 3, 2013, pursuant to which Meritage Homes of Tennessee, Inc. was added as a Guarantor;
WHEREAS, the Issuer, the Guarantors thereto, Meritage Homes of South Carolina, Inc., and the Trustee are parties to the Sixth Supplemental Indenture, dated as of June 12, 2014, pursuant to which Meritage Homes of South Carolina, Inc. was added as a Guarantor;
WHEREAS, the Issuer, the Guarantors thereto, MTH Realty LLC, Meritage Homes of Georgia, Inc., and the Trustee are parties to the Seventh Supplemental Indenture, dated as of July 18, 2014, pursuant to which MTH Realty LLC and Meritage Homes of Georgia, Inc. were added as Guarantors;
WHEREAS, the Issuer, the Guarantors thereto, MTH GA Realty LLC, MTH SC Realty LLC, MTH Financial Holdings, Inc., MLC Holdings, Inc., dba MLC Land Holdings, Inc., Meritage Homes of Georgia Realty LLC, and the Trustee are parties to the Eighth Supplemental Indenture, dated as of December 5, 2014, pursuant to which MTH GA Realty LLC, MTH SC Realty LLC, MTH Financial Holdings, Inc., MLC Holdings, Inc., dba MLC Land Holdings, Inc., and Meritage Homes of Georgia Realty LLC were added as Guarantors;
WHEREAS, the Additional Guarantor is a Restricted Subsidiary of the Issuer;
WHEREAS, the Issuer and the Successor Trustee desire to have the Additional Guarantor enter into this Ninth Supplemental Indenture and agree to guaranty the obligations of the Issuer under the Indenture and the Notes and the Additional Guarantor desires to enter into this Ninth Supplemental Indenture and to guaranty the obligations of the Issuer under the Indenture and the Notes as of such date; 
WHEREAS, by entering into this Ninth Supplemental Indenture, the Issuer and the Successor Trustee have consented to amend the Indenture in accordance with the terms and conditions herein;

WHEREAS, each Guarantor hereby acknowledges and consents to amend the Indenture in accordance with the terms and conditions herein; and
WHEREAS, all acts and things prescribed by the charter documents of the Additional Guarantor (as now in effect) necessary to make this Ninth Supplemental Indenture a valid instrument legally binding on the Additional Guarantor for the purposes herein expressed, in accordance with its terms, have been duly done and performed. 
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuer, the Guarantors, the Additional Guarantor and the Successor Trustee hereby agree for the benefit of each other and the equal and ratable benefit of the Holders of the Notes as follows:
1.Additional Guarantor as Guarantor.  As of the date hereof and pursuant to this Ninth Supplemental Indenture, the Additional Guarantor shall become a Guarantor under the definition of Guarantor in the Indenture in accordance with the terms and conditions of the Indenture and shall assume all rights and obligations of a Guarantor thereunder.
2.Construction.  For all purposes of this Ninth Supplemental Indenture, except as otherwise herein expressly provided or unless the context otherwise requires: (i) the defined terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture; and (ii) the words “herein,” “hereof,” “hereby” and other words of similar import used in this Ninth Supplemental Indenture refer to this Ninth Supplemental Indenture as a whole and not to any particular Section hereof.
3.Trustee Acceptance.  The Successor Trustee accepts the amendment of the Indenture effected by this Ninth Supplemental Indenture, as hereby amended, but only upon the terms and conditions set forth in the Indenture, as hereby amended, including the terms and provisions defining and limiting the liabilities and responsibilities of the Successor Trustee in the performance of its duties and obligations under the Indenture, as hereby amended.  Without limiting the generality of the foregoing, the Successor Trustee has no responsibility for the correctness of the recitals of fact herein contained which shall be taken as the statements of each of the Issuer and the Additional Guarantor, respectively, and makes no representations as to the validity or enforceability against either the Issuer or the Additional Guarantor.
4.Indenture Ratified.  Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect.
5.Holders Bound.  This Ninth Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of the Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 
6.Successors and Assigns.  This Ninth Supplemental Indenture shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
7.Counterparts.  This Ninth Supplemental Indenture may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, and all of such counterparts shall together constitute one and the same instrument.
8.Governing Law.  This Ninth Supplemental Indenture shall be governed by and construed in accordance with the internal laws of the State of New York without giving effect to principles of conflicts of laws.

[Signature Pages to Follow]

IN WITNESS WHEREOF, the Issuer, the Guarantors, the Additional Guarantor and the Successor Trustee have caused this Ninth Supplemental Indenture to be duly executed as of the date first above written.
ISSUER:

MERITAGE HOMES CORPORATION
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

By:    /s/ C. Timothy White                      
Name:    C. Timothy White
Title:    General Counsel, Executive Vice President and Secretary

ADDITIONAL GUARANTOR:

MERITAGE INSURANCE AGENCY, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

    
TRUSTEE:

REGIONS BANK, as Successor Trustee
By:    /s/ Craig A. Kaye                     
Name:    Craig A. Kaye    
		
	Title: 
	Vice President

    

GUARANTORS:

MERITAGE PASEO CROSSING, LLC
		
	By:
	Meritage Homes of Arizona, Inc.

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE PASEO CONSTRUCTION, LLC

		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary
    

MERITAGE HOMES OF ARIZONA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES CONSTRUCTION, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF TEXAS HOLDING, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary
    

MERITAGE HOMES OF CALIFORNIA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF TEXAS JOINT VENTURE HOLDING COMPANY, LLC
		
	By:
	Meritage Homes of Texas, LLC 

		
	Its:
	Sole Member

		
	By:
	Meritage Homes of Texas Holding, Inc.

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        

Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOLDINGS, L.L.C.
		
	By:
	Meritage Homes of Texas Holding, Inc.

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

    

MERITAGE HOMES OF NEVADA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary
    

MTH-CAVALIER, LLC
		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MTH GOLF, LLC
		
	By:
	Meritage Homes Construction, Inc. 

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary
    

MERITAGE HOMES OF COLORADO, INC.

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza

Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

    

MERITAGE HOMES OF FLORIDA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary
    

CALIFORNIA URBAN HOMES, LLC
		
	By:
	Meritage Homes of California, Inc.

		
	Its:
	Sole Member and Manager

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF TEXAS, LLC
		
	By:
	Meritage Homes of Texas Holding, Inc.

Its:    Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OPERATING COMPANY, LLC
By:     Meritage Holdings, L.L.C.
Its:    Manager

By:    Meritage Homes of Texas Holding, Inc.
Its:    Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

WW PROJECT SELLER, LLC

By:    Meritage Paseo Crossing, LLC
Its:    Sole Member

		
	By:
	Meritage Homes of Arizona, Inc.

		
	Its:
	Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF THE CAROLINAS, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

CAREFREE TITLE AGENCY, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

M&M FORT MYERS HOLDINGS, LLC
By:    Meritage Paseo Crossing, LLC 
		
	Its:
	Sole Member and Manager

		
	By:
	Meritage Homes of Arizona, Inc.

		
	Its:
	Sole Member 

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF FLORIDA REALTY LLC
By:    Meritage Homes of Florida, Inc.
		
	Its:
	Manager and Sole Member 

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF TENNESSEE, INC. 
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF SOUTH CAROLINA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MTH REALTY LLC 
By:    Meritage Paseo Crossing, LLC 
		
	Its:
	Sole Member and Manager

		
	By:
	Meritage Homes of Arizona, Inc.

		
	Its:
	Sole Member 

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF GEORGIA, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MTH GA REALTY LLC
		
	By:
	Meritage Homes of Georgia, Inc.

		
	Its:
	Manager and Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MTH SC REALTY LLC

		
	By:
	Meritage Homes of South Carolina, Inc.

		
	Its:
	Manager and Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MTH FINANCIAL HOLDINGS, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MLC HOLDINGS, INC., dba MLC LAND HOLDINGS, INC.
By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

MERITAGE HOMES OF GEORGIA REALTY, LLC 
By:    Meritage Homes of Georgia, Inc.
Its:    Manager and Sole Member

By:    /s/ Hilla Sferruzza        
Name:    Hilla Sferruzza
Title:    Executive Vice President and Chief Financial Officer, 
Chief Accounting Officer and Assistant Secretary

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