Document:

Exhibit 4.3

 

FIRST SUPPLEMENTAL INDENTURE

FIRST SUPPLEMENTAL INDENTURE (“Supplemental Indenture”) dated as of September 15, 2017, between WebMD Health Corp., a Delaware corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

RECITALS OF THE COMPANY

WHEREAS, the Company and the Trustee are parties to that certain Indenture, dated as of June 1, 2016 (the “Indenture”), pursuant to which the Company issued its 2.625% Convertible Notes due 2023 (the “Notes”);

WHEREAS, the Company is a party to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of July 24, 2017, among the Company, MH Sub I, LLC, a Delaware limited liability company (the “Parent”), and Diagnosis Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Parent, pursuant to which, and subject to the terms and conditions contained in the Merger Agreement, each share of Common Stock (a “Share”) has been converted into and represents only the right to receive $66.50 in cash (the “Cash Payment”);

WHEREAS, the Cash Payment is to be paid to each holder of Shares without interest and less any applicable withholding taxes;

WHEREAS, after the closing of the merger pursuant to the Merger Agreement (the “Make-Whole Fundamental Change”) on September 15, 2017 (the “Effective Date”), the right to convert each $1,000 principal amount of Notes to Common Stock will be changed to a right to convert such Notes into the amount of the Reference Property (as defined below);

WHEREAS, on August 7, 2017, the Company gave notice to the holders of the Notes that the anticipated Effective Date would be on or after September 7, 2017;

WHEREAS, in connection with the foregoing, Section 10.13(a) of the Indenture provides that the Company shall execute a supplemental indenture providing that each Note shall, without the consent of any holders of Notes, become convertible into only to the amount of Reference Property (as defined below);

WHEREAS, all conditions precedent for the execution and delivery of this Supplemental Indenture have been complied with or have been done or performed; and

WHEREAS, all acts and requirements necessary to make this Supplemental Indenture a binding obligation of the Company have been done.

NOW, THEREFORE, THIS INDENTURE WITNESSETH:

In consideration of the foregoing and for other good and valuable consideration, receipt of which is hereby acknowledged, the Company and the Trustee agree as follows for the equal and ratable benefit of the holders of the Notes:

ARTICLE 1

Definitions

Section 1.01. General. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Indenture.

ARTICLE 2

Agreements of Parties

Section 2.01 Conversion of Notes. In accordance with Section 10.13 of the Indenture and the Officers’ Certificate, dated September 15, 2017, from and after the date of this Supplemental Indenture, the right to convert each $1,000 principal amount of Notes will be changed to a right to convert such Notes into the kind and amount of shares of stock, other securities or other property or assets (including cash or any combination thereof) that a holder of a number of shares of Common Stock equal to the Conversion Rate immediately prior to such transaction would have owned or been entitled to receive (the “Reference Property”), which shall consist of cash in an amount equal to $767.34 per $1,000 principal amount of Notes based on a Conversion Rate of 11.5389 in the case of a holder that elects to convert its Notes in accordance with the Indenture. The provisions of the Indenture, as modified herein, shall continue to apply, mutatis mutandis, to the holders’ right to convert the Notes into the Reference Property.

ARTICLE 3

Miscellaneous Provisions

Section 3.01 Effectiveness; Construction. This Supplemental Indenture shall become effective upon its execution and delivery by the Company and the Trustee as of the date hereof. Upon such effectiveness, the Indenture shall be supplemented in accordance herewith. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered under the Indenture shall be bound thereby. The Indenture and this Supplemental Indenture shall henceforth be read and construed together.

Section 3.02 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all provisions in the Indenture shall remain in full force and effect.

Section 3.03 Trustee Matters. The Trustee accepts the Indenture, as supplemented hereby, and agrees to perform the same upon the terms and conditions set forth therein, as supplemented hereby. The Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct or affecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided. The recitals and statements contained in this Supplemental Indenture shall be taken as the statements of the Company and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture.

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Section 3.04 No Third-Party Beneficiaries. Nothing in this Supplemental Indenture, expressed or implied, shall give to any Person, other than the parties to the Indenture, any Paying Agent, any Conversion Agent, any authenticating agent, any Note Registrar and their successors under the Indenture or the holders of the Notes, any benefit or any legal or equitable right, remedy or claim under the Indenture, as supplemented hereby.

Section 3.05 Separability. In the event any provision of 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 and a Holder shall have no claim therefor against any party hereto.

Section 3.06 Headings. The Article and Section headings of this Supplemental Indenture have been inserted for convenience of reference only and are not to be considered a part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions hereof.

Section 3.07 Successors. All agreements of the Company and the Trustee in this Supplemental Indenture shall bind their respective successors and assigns.

Section 3.09 Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW YORK.

Section 3.10 Counterpart Signatures. This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument.

[Signature page follows]

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

	 	
WEBMD HEALTH CORP.

	 	 	 
	 	
By:

	
/s/ Blake DeSimone

	 	
Name:

	
Blake DeSimone

	 	
Title:

	
Executive Vice President and Chief Financial Officer

[Signature Page to Supplemental Indenture (2023 Convertible Notes)]

	 	
THE BANK OF NEW YORK MELLON 

TRUST COMPANY, N.A., as Trustee

	 	 
	 	
By:

	
/s/ R. Tarnas

	 	
Name:

	
R. Tarnas

	 	
Title:

	
Vice President

[Signature Page to Supplemental Indenture (2020 Convertible Notes)]ex101waiverandconsent

Execution Version US 5218244v.2 WAIVER AND CONSENT AGREEMENT This WAIVER AND CONSENT AGREEMENT (this “Agreement”) is made as of September 13, 2017, by and among Nexeo Solutions, Inc. (the “Company”) and Nexeo Holdco, LLC (“Holdco”).  Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in that certain Shareholders’ and Registration Rights Agreement, dated as of March 21, 2016, by and among the Company, WL Ross Sponsor LLC and Holdco, as amended by Amendment No. 1 to Shareholders’ and Registration Rights Agreement, dated June 7, 2016 (as amended, the “SHRRA”). RECITALS WHEREAS, pursuant to Section 3.2(h) of the SHRRA, for so long as any Sponsor has the right to designate at least one (1) director for nomination under the SHRRA, the Company will take all Necessary Action to ensure that the number of directors serving on the Board of Directors shall not exceed nine (9); WHEREAS, pursuant to Section 7.6(a) of the SHRRA, the SHRRA may be amended, modified and waived in whole or in part with the written consent of the Company and the Shareholders holding in aggregate more than fifty percent (50%) of the Company Shares held by the Shareholders; provided that any such amendment, modification or waiver that (i) would be materially adverse in any respect to any Qualifying Shareholder shall require the prior written consent of such Qualifying Shareholder or (ii) would be disproportionately adverse to any Sponsor relative to the Qualifying Shareholders (or, to the extent there are no Qualifying Shareholders, relative to the other Sponsors) shall require the prior written consent of such disproportionately adversely affected Sponsor;  WHEREAS, the Board of Directors of the Company desires to increase the number of directors from nine (9) to ten (10) and has requested that TPG waive the requirement of Section 3.2(h) of the SHRRA requiring the Company to take all Necessary Action to ensure that the number of directors serving on the Board of Directors not exceed nine (9); and WHEREAS, the undersigned parties constitute the parties required to amend, modify and waive the SHRRA in accordance with the above-listed requirements. NOW, THEREFORE, in consideration of the premises set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties to this Agreement agree as follows: AGREEMENT 1. Waiver and Consent.  Notwithstanding any provision of the SHRRA to the contrary: (a) The Board of Directors of the Company shall be permitted to increase the number of directors from nine (9) to ten (10); and Exhibit 10.1

 

Execution Version US 5218244v.2 (b) TPG hereby (i) consents to the proposed increase in the number of directors and (ii) waives any non-compliance by the Company with Section 3(h) of the SHRRA in connection with the proposed increase in the number of directors. 2. No Waiver.  Except as expressly stated herein, nothing in this Agreement shall be deemed a consent to, or waiver of, any other action or inaction of the Company or TPG which constitutes (or would constitute) a violation of any provision of the SHRRA, nor shall the limited waiver provided herein constitute a course of conduct or dealing among the parties.  For the avoidance of doubt, the consent and waiver set forth in Section 1 of this Agreement shall apply with respect to the proposed increase in the number of directors from nine (9) to ten (10) only and shall not be deemed a consent with respect to any future increase or decrease in the number of directors serving on the Board of Directors of the Company. 3. Counterparts.  This Agreement may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Agreement by facsimile or electronic (e.g., pdf) transmission shall be effective as delivery of a manually executed original counterpart hereof. 4. Entire Agreement.  This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof.  This Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto. 5. Governing Law; Jurisdiction.  This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties hereto (a) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Agreement shall be brought and enforced in the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware lacks jurisdiction, then in the applicable Delaware state court), or if under applicable Law exclusive jurisdiction of such action is vested in the federal courts, then the United States District Court for the District of Delaware, and irrevocably submits to such jurisdiction and venue, which jurisdiction and venue shall be exclusive, and (b) waives any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient forum. 6. Specific Performance.  Each party hereby agrees that the other party may demand specific performance of this Agreement without prejudice to any other remedy to which it is entitled at law or in equity.  Each party hereby irrevocably waives any defense based on the adequacy of a remedy at law and any other defense that might be asserted to bar the remedy of specific performance in any action that may be brought by the other party in connection with the transactions contemplated hereby. 7. Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue Exhibit 10.1

 

Execution Version US 5218244v.2 in full force and effect without said provision; provided that no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party. (Signature Page Follows) Exhibit 10.1

 

 Signature Page to Waiver and Consent Agreement IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.  NEXEO SOLUTIONS, INC.    By: /s/ Michael B. Farnell, Jr._______________ Name: Michael B. Farnell, Jr. Title: Executive Vice President, Chief Administrative Officer NEXEO HOLDCO, LLC  TPG VI AIV SLP SD, L.P., its managing member  By: TPG AIV SLP SD Advisors, L.L.C., its general partner    By: /s/ Mike LaGatta______________________ Name: Mike LaGatta Title: Vice President  Exhibit 10.1

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