Document:

EX-4.3

 Exhibit 4.3 

FORM OF RECEIPT FOR DEPOSITARY SHARES EACH REPRESENTING 1/100 OF A SHARE OF 

6.75% SERIES C CUMULATIVE REDEEMABLE PERPETUAL PREFERRED STOCK 

 

					
	 	  	Number_____________	  	________________Shares
CUSIP 29472R405

  

			
	

	  	 SEE REVERSE FOR CERTAIN DEFINITIONS AND RESTRICTIONS

 
 EQUITY LIFESTYLE PROPERTIES, INC.

a Corporation Formed Under the Laws of the State of Maryland

American Stock Transfer & Trust Company, LLC, as Depositary (the “Depositary”) hereby certifies that
____________________________is a registered owner of _________________________DEPOSITARY SHARES (the “Depositary Shares”), each Depositary Share representing 1/100 of one share of 6.75% Series C Cumulative Redeemable Perpetual Preferred
Stock, $.01 par value per share (the “Shares”) of EQUITY LIFESTYLE PROPERTIES, INC. (the “Corporation”), on deposit with the Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement, dated as
of September 14, 2012, among the Corporation, the Depositary and the holders from time to time of Receipts for Depositary Shares. By accepting this Receipt, the holder hereof becomes a party to and agrees to be bound by all the terms and
conditions of the Deposit Agreement. This Receipt shall not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual or facsimile signature of a
duly authorized officer and, if a Registrar, in respect of the Receipt (other than the Depositary) shall have been appointed, also by the manual signature of a duly authorized officer of such Registrar. 

Dated:                     

 Countersigned and Registered: 

	 	    	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC 

	 	    	Depositary 

  

			
		
	By:	 	 
		 	 Authorized Signature

 EQUITY LIFESTYLE PROPERTIES, INC. 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER FOR THE PURPOSE OF THE CORPORATION’S
MAINTENANCE OF ITS QUALIFICATION AS A REAL ESTATE INVESTMENT TRUST UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. EXCEPT AS OTHERWISE PROVIDED PURSUANT TO THE CHARTER OF THE CORPORATION, NO PERSON MAY BENEFICIALLY OWN SHARES OF COMMON STOCK
AND/OR PREFERRED STOCK IN EXCESS OF 5.0% (OR SUCH GREATER PERCENTAGE AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS OF THE CORPORATION) OF THE NUMBER OR VALUE OF THE OUTSTANDING EQUITY STOCK OF THE CORPORATION (UNLESS SUCH PERSON IS AN EXISTING
HOLDER). ANY PERSON WHO ATTEMPTS OR PROPOSES TO BENEFICIALLY OWN SHARES OF COMMON STOCK AND/OR PREFERRED STOCK IN EXCESS OF THE ABOVE LIMITATIONS MUST NOTIFY THE CORPORATION IN WRITING AT LEAST 15 DAYS PRIOR TO SUCH PROPOSED OR ATTEMPTED TRANSFER.
ALL CAPITALIZED TERMS IN THIS LEGEND HAVE THE MEANINGS DEFINED IN THE CHARTER OF THE CORPORATION, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER, WILL BE SENT WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS. IF THE RESTRICTIONS ON
TRANSFER ARE VIOLATED, THE SECURITIES REPRESENTED HEREBY WILL BE DESIGNATED AND TREATED AS SHARES OF EXCESS STOCK WHICH WILL BE HELD IN TRUST BY THE CORPORATION. 
 The Corporation will furnish to any stockholder, on request and without charge, a full statement of the information required by Section 2-211(b) of the Maryland General Corporation Law with respect
to the designations and any preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of the stock of each class which the
Corporation has authority to issue and (i) the differences in the relative rights and preferences between the shares of each series to the extent set and (ii) the authority of the Board of Directors to set such rights and preferences of
subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its entirety by reference to the charter of the Corporation, a copy of which will be sent without charge to each stockholder who so requests.
Such request must be made to the Secretary of the Corporation at its principal office. 
 The following abbreviations, when used in the
inscription on the face of this Certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

							
	 TEN COM
	  	-as tenants in common	  	UNIF GIFT MIN ACT	  	      Custodian       (Cust) (Minor) under Uniform Gifts to Minors Act
of                     (State)
	 TEN ENT
	  	-as tenants by the entireties	  		  	
				
	 JT TEN
	  	-as joint tenants with right of survivorship and not as tenants in common	  		  	

 Additional abbreviations may also be used though not in the above list. 

 For Value
Received,                                      
    hereby sell, assign and transfer unto 
 PLEASE INSERT SOCIAL SECURITY OR OTHER 

IDENTIFYING NUMBER OF ASSIGNEE 
  

 
 (Please Print or Typewrite Name
and Address Including Zip Code, of Assignee) 
 Depositary Shares represented by the within Receipt, and do hereby irrevocably constitute and
appoint                                      
        attorney to transfer the said Depositary Shares on the books of the within named Corporation with full power of substitution in the premises. 

 

			
		
	X	 	 
		
	X	 	 
	
	NOTICE: THE SIGNATURE(S) TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATEVER.

 Signature(s) Guaranteed 

 

			
		
	By:	 	 
		 	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15EX-10.1

 Exhibit 10.1 
 FIRST AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT 
 This FIRST
AMENDMENT TO REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”) is entered into as of June 15, 2012, by and among VIRCO MFG. CORPORATION, a Delaware corporation (“VMC”), VIRCO INC., a Delaware
corporation (“Virco”, and together with VMC, “Borrowers” and, each individually, a “Borrower”), the financial institutions from time to time party to the Credit Agreement (as defined below) as
lenders (collectively, “Lenders”), and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as administrative agent for Lenders (PNC, in such capacity, “Agent”), with respect to the following: 

A. Borrowers, Lenders and Agent have previously entered into that certain Revolving Credit and Security Agreement, dated as of
December 22, 2011 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”). 

B. Borrowers have requested that the Credit Agreement be amended in certain respects and Agent and Lenders have agreed to amend the
Credit Agreement pursuant to the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the mutual
conditions and agreements set forth in the Credit Agreement, the Loan Documents and this Amendment, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 

1. Definitions Incorporated. Initially capitalized terms used but not otherwise defined in this Amendment have the respective
meanings set forth in the Credit Agreement, as amended hereby. 
 2. Amendments to the Credit Agreement. The Credit
Agreement is hereby amended as follows: 
 (a) The following new definitions are hereby added to Section 1.2
of the Credit Agreement in proper alphabetical order to read as follows: 
 “‘First
Amendment’ shall mean the First Amendment to Revolving Credit and Security Agreement dated as of June 15, 2012, among Borrowers, the Lenders party thereto and Agent.” 

“‘First Amendment Date’ shall mean June 15, 2012.” 

(b) The definition of “Peak Season” as set forth in Section 1.2 of the Credit Agreement is hereby amended
and restated to read as follows: 
 “‘Peak Season’ means the period from March 1
through August 31 of each fiscal year of the Borrowers.” 
 (c) The text of clause (g) of the
definition of “Eligible Finished Goods Inventory” as set forth in Section 1.2 of the Credit Agreement is hereby amended and restated to read as follows: 

  
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 “(g) is situated at a location not owned by a Borrower unless
(i) the owner or occupier of such location has executed a Lien Waiver Agreement or (ii) Agent, in its sole discretion, establishes a reserve, in lieu of a Lien Waiver Agreement, against the Formula Amount equal to three months’ rent
for such location; provided, that for Borrowers’ leased location at 2027 Harpers Way, Torrance, California, in lieu of a Landlord Waiver Agreement, Agent will implement a rent reserve equal to (a) one month’s rent for such
location for the month of September 2012, (b) two months’ rent for such location for the month October 2012, and (c) three months’ rent for such location for the month of November 2012 and each month thereafter.” 

(d) The text of clause (a)(y)(iii) of Section 2.1 of the Credit Agreement is hereby amended and restated to read as
follows: 
 “(iii) with respect to each fiscal year of the Borrowers, during the respective period set forth
below for such fiscal year, the amount applicable to such period 
  

					
	 Period
	  	Amount	 
	 March
	  	$	6,000,000	  
	 April
	  	$	10,000,000	  
	 May
	  	$	12,000,000	  
	 June 1st through and including July 14th
	  	$	9,000,000	  
	 July 15th though and including July 31st
	  	$	6,000,000	  

 minus” 

(e) The reference to “January 31, 2012” in the last row of the table set forth in clause (a) of
Section 6.5 of the Credit Agreement is hereby deleted and replaced with “January 31, 2013”. 
 (f)
The notice address for McGuireWoods LLP as set forth in Schedule A to the Credit Agreement is hereby amended and restated to read as follows: 
 “with an additional copy (which shall not constitute notice) to: 
 McGuireWoods LLP 
 1800 Century Park East, 8th Floor 

Los Angeles, California 90067 

							
		 	 Attention:
	  	Gary Samson, Esq.	  	
		 	Telephone:	  	(310) 315-8248	  	
		 	Facsimile:	  	(310) 956-3148	  	
		 	Email:	  	gsamson@mcguirewoods.com”	  	

  
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 3. Landlord Subordination. 

(a) On or before August 15, 2012 (or such later date as Agent may agree in its discretion), Borrowers shall use
commercially reasonable efforts to cause to be delivered to Agent a Landlord’s Subordination Agreement, in form and substance acceptable to Agent, for the leased premises located at 2027 Harpers Way, Torrance, California whereby the landlord
agrees to subordinate its Lien in the Collateral of Borrowers located at such location to the Lien of Agent and Lenders and provide Agent adequate access to such location. 

(b) Upon Agent’s receipt of an executed copy of a Landlord Subordination Agreement described in clause (a) above
at any time during the term of the Credit Agreement, Agent will remove the existing rent reserve established by Agent under the definition of “Eligible Finished Goods Inventory” as set forth in the Credit Agreement for the leased premises
located at 2027 Harpers Way, Torrance, California. 
 4. Amendment Fee. On the date hereof, Borrowers shall pay to Agent,
in addition to all other fees and charges set forth in the Credit Agreement, a non-refundable amendment fee of $15,000, which fee may be charged to the Borrowers’ Account as a Revolving Advance (the “Amendment Fee”).

 5. Conditions Precedent. The obligations of Agent and Lenders hereunder, and this Amendment, will be effective on the
date (the “First Amendment Effective Date”) of satisfaction of each of the following conditions precedent, each in a manner in form and substance acceptable to Agent: 

(a) Representations and Warranties. The representations and warranties contained herein and in the Credit
Agreement, as amended hereby, shall be true and correct in all material respects as of the date hereof as if made on the date hereof, except for such representations and warranties limited by their terms to a specific date, in which case each such
representation and warranty shall be true and correct in all material respects as of such specific date; 
 (b)
No Default. No Default or Events of Default shall have occurred and be continuing; 
 (c)
Amendment. Borrowers shall have delivered to Agent an executed original of this Amendment; 
 (d)
Company Proceedings of Borrowers. Agent shall have received a copy of the resolutions in form and substance reasonably satisfactory to Agent, of the Board of Directors of each Borrower authorizing the execution, delivery and performance of
this Amendment certified by the Secretary or an Assistant Secretary of each Borrower as of the First Amendment Date; and, such certificate shall state that the resolutions thereby certified have not been amended, modified, revoked or rescinded as of
the date of such certificate; 
 (e) Fees. Borrowers shall have paid the Amendment Fee, or in Agent’s
discretion, Agent shall have charged the Amendment Fee to the Borrowers’ Account as a Revolving Advance ; and 
 (f) Other. All corporate and other proceedings, and all documents, instruments and other legal matters in connection with the transactions contemplated hereby shall be satisfactory in form and
substance to Agent and its counsel. 

  
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 6. Representations and Warranties. To induce Lenders and Agent to enter into this
Amendment, each Borrower represents and warrants to Lenders and Agent as of the date hereof as follows: 
 (a)
Such Borrower has full power, authority and legal right to enter into this Amendment and to perform all its respective Obligations hereunder. This Amendment has been duly executed and delivered by such Borrower and the Credit Agreement, as amended
by this Amendment constitutes the legal, valid and binding obligation of such Borrower enforceable in accordance with its terms, except as such enforceability may be limited by any applicable bankruptcy, insolvency, moratorium or similar laws
affecting creditors’ rights generally. The execution, delivery and performance of this Amendment (i) are within such Borrower’s powers, have been duly authorized by all necessary company action, are not in contravention of law or the
terms of such Borrower’s by-laws, certificate of incorporation, or other applicable documents relating to such Borrower’s formation or to the conduct of such Borrower’s business or of any material agreement or undertaking to which
such Borrower is a party or by which such Borrower is bound, (ii) will not conflict with or violate any law or regulation, or any judgment, order, writ, injunction or decree of any court or Governmental Body, (iii) will not require the
Consent of any Governmental Body or any other Person, except those Consents which will have been duly obtained, made or compiled prior to date hereof and which are in full force and effect, and (iv) will not conflict with, nor result in any
breach in any of the provisions of or constitute a default under or result in the creation of any Lien except Permitted Encumbrances upon any asset of such Borrower under the provisions of any material agreement, charter document, instrument, by-law
or other instrument to which such Borrower is a party or by which it or its property is a party or by which it may be bound. 
 (b) After giving effect to this Amendment, the representations and warranties contained in the Credit Agreement are true and correct in all material respects except to the extent any such representation
or warranty is expressly stated to have been made as of a specific date, in which case each such representation and warranty is true and correct in all material respects as of such specific date, and no Default or Event of Default has occurred and
is continuing. 
 7. Reaffirmation. Except as specifically modified by this Amendment, the Credit Agreement and the other
Loan Documents remain in full force and effect in accordance with their respective terms and are hereby ratified, reaffirmed and confirmed by Borrowers. 
 8. Events of Default. Any failure to comply with the terms of this Amendment will constitute an Event of Default under the Credit Agreement. 

9. Integration. This Amendment, together with the Credit Agreement and the Loan Documents, incorporates all negotiations of the
parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 
 10. Severability. If any part of this Amendment is contrary to, prohibited by, or deemed invalid under Applicable Laws, such provision shall be inapplicable and deemed omitted to the extent so
contrary, prohibited or invalid, but the remainder hereof shall not be invalidated thereby and shall be given effect so far as possible. 
 11. Submission of Amendment. The submission of this Amendment to the parties or their agents or attorneys for review or signature does not constitute a commitment by Agent or Lenders to amend or
otherwise modify any of the provisions of the Credit Agreement and this Amendment shall have no binding force or effect until the First Amendment Effective Date. 

  
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 12. Counterparts; Facsimile Signatures. This Amendment may be executed in any number
of and by different parties hereto on separate counterparts, all of which, when so executed, shall be deemed an original, but all such counterparts shall constitute one and the same agreement. Any signature delivered by a party by facsimile
transmission shall be deemed to be an original signature hereto. 
 13. Governing Law. THIS
AMENDMENT IS A LOAN DOCUMENT AND IS GOVERNED BY THE APPLICABLE LAW
PERTAINING IN THE STATE OF NEW YORK, OTHER THAN THOSE CONFLICT OF
LAW PROVISIONS THAT WOULD DEFER TO THE SUBSTANTIVE LAWS OF ANOTHER
JURISDICTION. THIS GOVERNING LAW ELECTION HAS BEEN MADE BY THE PARTIES
IN RELIANCE ON, AMONG OTHER THINGS, SECTION 5-1401 OF THE GENERAL OBLIGATIONS
LAW OF THE STATE OF NEW YORK, AS AMENDED (AS AND TO
THE EXTENT APPLICABLE), AND OTHER APPLICABLE LAW. 
 14. Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of Borrowers, Lenders, Agent, and all future holders of the Obligations and their respective successors and
assigns, except that no Borrower may assign or transfer any of its rights or obligations under this Amendment without the prior written consent of Agent. 
 15. Attorneys’ Fees; Costs. Borrowers agree to promptly pay, upon written demand, all reasonable and documented attorneys’ fees and costs incurred in connection with the negotiation,
documentation and execution of this Amendment. If any legal action or proceeding shall be commenced at any time by any party to this Amendment in connection with its interpretation or enforcement, the prevailing party or parties in such action or
proceeding shall be entitled to reimbursement of its reasonable attorneys’ fees and costs in connection therewith, in addition to all other relief to which the prevailing party or parties may be entitled. 

16. Jury Trial Waiver. TO THE EXTENT NOT PROHIBITED
BY APPLICABLE LAW, EACH PARTY TO THIS AMENDMENT HEREBY EXPRESSLY WAIVES
ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION, OR
CAUSE OF ACTION A) ARISING UNDER THIS AMENDMENT OR ANY OTHER
INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH, OR
B) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO
THIS AMENDMENT OR ANY OTHER INSTRUMENT, DOCUMENT, OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO
IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE AND EACH PARTY HERETO
HEREBY CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION, OR CAUSE OF
ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT
ANY PARTY TO THIS AMENDMENT MAY FILE AN ORIGINAL COUNTERPART OR A
COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENTS OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY. WITHOUT LIMITING THE APPLICABILITY OF ANY OTHER PROVISION
OF THIS AMENDMENT, THE TERMS OF ARTICLE XII OF THE CREDIT AGREEMENT
SHALL APPLY TO THIS AMENDMENT. 
 17. Total
Agreement. This Amendment, the Credit Agreement, and the other Loan Documents contain the entire understanding among Borrowers, Lenders and Agent and supersede all prior agreements and understandings, if any, relating to the subject matter
hereof. Any promises, representations, warranties, or guarantees not herein contained and hereinafter made have no force and effect unless in writing, signed by Borrowers’ and Agent’s respective officers. Neither this Amendment nor any
portion or provisions hereof may be changed, modified, amended, waived, supplemented, discharged, cancelled, or terminated orally or by any course of dealing, or in any manner other than by an agreement in writing, signed by the party to be charged.
Each Borrower acknowledges that it has been advised by counsel in connection with the execution of this Amendment and the other Loan Documents and is not relying upon oral representations or statements inconsistent with the terms and provisions of
this Amendment. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date
first written above. 
  

			
	 VIRCO MFG. CORPORATION,
 a Delaware corporation, as a Borrower

		
	By:	 	 /s/ Robert Dose

	Name:	 	Robert Dose
	Title:	 	VP Finance
	
	 VIRCO INC.,
 a
Delaware corporation, as a Borrower

		
	By:	 	 /s/ Robert Dose

	Name:	 	Robert Dose
	Title:	 	VP Finance

 
			
	PNC BANK, NATIONAL ASSOCIATION,
	as Lender and as Agent
		
	By:	 	 /s/ Jeanette Vandenbergh

	Name:	 	Jeanette Vandenbergh
	Title:	 	Vice President

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