Document:

Exhibit 4.5

Exhibit 4.5

 

FIRST SUPPLEMENTAL INDENTURE

Dated as of July 1, 2008

Supplementing the Indenture, dated

as of May 22, 2007, among

Countrywide Financial Corporation,

Countrywide Home Loans, Inc.,

and

The Bank of New York Mellon (formerly known as The Bank of New York), as Trustee

 

 

THIS FIRST SUPPLEMENTAL INDENTURE, dated as of July 1, 2008 (the “First Supplemental
Indenture”), is made by and among BANK OF AMERICA CORPORATION, a Delaware corporation
(“Parent”), RED OAK MERGER CORPORATION, a Delaware corporation and wholly-owned subsidiary of
Parent (the “Corporation”), COUNTRYWIDE FINANCIAL CORPORATION, a Delaware corporation
(“Issuer”), COUNTRYWIDE HOME LOANS, INC., a New York corporation (the “Guarantor”), and THE
BANK OF NEW YORK MELLON (formerly known as The Bank of New York), as Trustee (the “Trustee”)
under the Indenture referred to herein.

W I T N E S S E T H:

     WHEREAS, Issuer, the Guarantor and the Trustee are parties to an Indenture dated as of May
22, 2007 (as amended and supplemented, the “Indenture”), providing for the issuance of Series A
Debentures and Series B Debentures (collectively the “Securities”);

     WHEREAS, Parent, Issuer and the Corporation have entered into an Agreement and Plan of
Merger (the “Merger Agreement”), dated as of January 11, 2008, pursuant to which Issuer will
merge with and into the Corporation (the “Merger”), with the Corporation as the surviving
corporation in the Merger;

     WHEREAS, the Merger is being consummated on July 1, 2008;

     WHEREAS, Section 5.01 of the Indenture provides that in the case of a merger of Issuer
into any other corporation, the surviving corporation shall expressly assume by supplemental
indenture all the obligations and covenants under the Securities and the Indenture to be
performed and observed by Issuer;

     WHEREAS, Section 9.01(f) of the Indenture provides that Issuer and the Guarantor may
amend the Indenture without notice to or consent of any holders of the Securities to provide
for the conversion rights of holders of the Securities in the event of the merger of Issuer;

     WHEREAS, Section 9.01(g) of the Indenture provides that Issuer and the Guarantor may amend
the Indenture without notice to or consent of any holders of the Securities to evidence the
succession of another corporation to Issuer by merger and the assumption by the successor
corporation of the obligations and covenants of Issuer under the Indenture;

     WHEREAS, Section 9.01(k) of the Indenture provides that Issuer and the Guarantor may amend
the Indenture without notice to or consent of any holders of the Securities to make any changes
to the Indenture so long as such change individually or in the aggregate with all other changes
does not have a material adverse effect on the interest of the holders of the Securities;

 

 

     WHEREAS, Section 10.05(a) of the Indenture requires Parent to execute and deliver to
the Trustee a supplemental indenture in connection with the Merger;

     WHEREAS, this First Supplemental Indenture has been duly authorized by all necessary
corporate action on the part of each of Parent, Issuer, the Guarantor and the Corporation;

     WHEREAS, the Trustee has determined this First Supplemental Indenture is satisfactory
to it in form; and

     WHEREAS, all things necessary to make this First Supplemental Senior Indenture a
valid indenture and agreement according to its terms have been done.

     NOW, THEREFORE, in consideration of the premises, Parent, Issuer, the Guarantor, the
Corporation and the Trustee agree as follows for the equal and ratable benefit of the
holders of the Securities:

ARTICLE I

ASSUMPTION BY THE CORPORATION

AND SUPPLEMENTAL PROVISIONS

     SECTION 1.1 Assumption of the Securities.

     (a) The Corporation hereby represents and warrants that

     (i) it is a corporation organized and existing under the laws of the State of
Delaware and is the surviving corporation in the Merger; and

     (ii) the execution, delivery and performance of this First Supplemental Indenture
has been duly authorized by the Board of Directors of the Corporation.

     (b) The Corporation hereby expressly assumes the due and punctual payment of the principal
of (and premium, if any) and interest on all the Securities and the performance of every
obligation of the Issuer under the Securities and the Indenture to be performed or observed.

     SECTION 1.2 Assumption of the Conversion Obligation.

     (a) Parent hereby represents and warrants that

     (i) it is a corporation organized and existing under the laws of the State of
Delaware; and

     (ii) the execution, delivery and performance of this First Supplemental Indenture
has been duly authorized by the Board of Directors of Parent.

     (b) Parent hereby expressly assumes the Conversion Obligation and payment of the related
Settlement Amount as required by Section 10.05 of the Indenture.

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     (c) Notwithstanding anything to the contrary in this First Supplemental Indenture, the
parties intend for the Conversion Obligation and related provisions of the Indenture to be
interpreted and applied consistently with the requirements of the Indenture including, without
limitation, those set forth in Sections 10.03(e) and 10.05(a) of the Indenture. For purposes of
applying such provisions following the Merger, (i) the Exchange Property in the Merger consists
of shares of common stock, par value $0.01 per share, of Parent (“Parent Common Stock”),
exchanged at a ratio of 0.1822 shares of Parent Common Stock for each share of common stock,
par value $0.05 per share, of the Company (“CFC Common Stock”), (ii) Parent shall deliver
Parent Common Stock in satisfaction of its Conversion Obligation under the Indenture and (iii)
as of the effective time of the Merger, the Last Reported Sale Price of the Exchange Property
was $4.35 per share of CFC Common Stock (consisting of 0.1822 of a share of Parent Common Stock
having a Last Reported Sale Price of $23.87).

     SECTION 1.3 Name. Effective July 1, 2008, the name of Issuer, as the successor
corporation under the Indenture, shall be “Countrywide Financial Corporation.”

     SECTION 1.4 Supplemental Provisions. In connection with the issuance of Securities
under this Indenture:

     (a) Definitions in the present Section 101 are hereby amended as follows:

     (i) Except as otherwise provided in this Section 1.4, all references in the Indenture to
“Change of Control” shall mean “Parent Change of Control.”

     (ii) The definition of “Change in Control” in Section 101 is hereby deleted in its
entirety.

     (iii) The following definitions are added to Section 101:

     “Company Change of Control” means the occurrence at such time after July
1, 2008 when any of the following has occurred:

     (1) a ‘‘person’’ or ‘‘group’’ within the meaning of Section
13(d)(3) of the Exchange Act files a Schedule 13D or any schedule, form
or report under the Exchange Act disclosing that such person or group
has become the direct or indirect ‘‘beneficial owner,’’ as defined in
Rule 13d-3 under the Exchange Act, of shares of Company Stock
representing more than 50% of the Voting Stock of the Company; or

     (2) the first day on which a majority of the members of the Board
of Directors of the Company does not consist of Continuing Directors;
or

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     (3) a consolidation, merger or binding share exchange, or any
conveyance, transfer, sale, lease or other disposition of all or
substantially all of the Company’s properties and assets to another
person, other than:

     (a) any transaction (i) that does not result in any
reclassification, conversion, exchange or cancellation of
outstanding shares of the Company’s Capital Stock or (ii)
pursuant to which holders of the Company’s Capital Stock
immediately prior to such transaction have the entitlement to
exercise rights to, directly or indirectly, 50% or more of the
total Voting Stock of the continuing or surviving or successor
person immediately after giving effect to such issuance; or

     (b) any merger, share exchange, transfer of assets or
similar transaction solely for the purpose of changing the
Company’s jurisdiction of incorporation and resulting in a
reclassification, conversion or exchange of outstanding shares
of Company Stock, if at all, solely into shares of common
stock, ordinary shares or American Depositary Shares of the
surviving entity or a direct or indirect parent of the
surviving entity; or

     (c) any consolidation, merger, conveyance, transfer,
sale, lease or other disposition with or into Parent or a
Subsidiary of Parent, so long as such merger, consolidation,
conveyance, transfer, sale, lease or other disposition is not
part of a plan or a series of transactions designed to or
having the effect of merging or consolidating with or
conveying, transferring, selling, leasing or otherwise
disposing of all or substantially all of the Company’s
properties and assets to any other person.

     The term “person” as used in this definition includes any
syndicate or group that would be deemed to be a “person” under
Section 13(d)(3) of the Exchange Act.

     “Company Stock” means the common stock, par value $0.05 per share, of the
Company existing on the date immediately following consummation of the Merger
or any other shares of Capital Stock of the Company into which such Company
Stock shall be reclassified or changed, including, in the event of a merger,
consolidation or other similar transaction involving the Company that is
otherwise permitted hereunder in which the Company is not the surviving person,
the common stock of such surviving corporation.”

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     “Merger” means the merger of Countrywide Financial Corporation, a
Delaware corporation, with and into Red Oak Merger Corporation, a Delaware
corporation, pursuant to an Agreement and Plan of Merger, dated as of January
11, 2008, among Parent, Countrywide Financial Corporation and Red Oak Merger
Corporation.

     “Parent” means Bank of America Corporation, a Delaware corporation,
until a successor replaces it pursuant to the applicable provisions of this
Indenture and, thereafter, shall mean such successor. The foregoing sentence
shall likewise apply to any subsequent successor or successors.

     “Parent Change of Control” means the occurrence at such time after
July 1, 2008 when any of the following has occurred:

     (1) a ‘‘person’’ or ‘‘group’’ within the meaning of Section
13(d)(3) of the Exchange Act files a Schedule 13D or any schedule, form
or report under the Exchange Act disclosing that such person or group
has become the direct or indirect ‘‘beneficial owner,’’ as defined in
Rule 13d-3 under the Exchange Act, of shares of Common Stock
representing more than 50% of the Voting Stock of Parent; or

     (2) the first day on which a majority of the members of the Board
of Directors of Parent does not consist of Continuing Directors; or

     (3) a consolidation, merger or binding share exchange, or any
conveyance, transfer, sale, lease or other disposition of all or
substantially all of Parent’s properties and assets to another person,
other than:

     (a) any transaction (i) that does not result in any
reclassification, conversion, exchange or cancellation of
outstanding shares Parent’s Capital Stock or (ii) pursuant to
which holders of the Parent’s Capital Stock immediately prior to
such transaction have the entitlement to exercise rights to,
directly or indirectly, 50% or more of the total Voting Stock of
the continuing or surviving or successor person immediately
after giving effect to such issuance; or

     (b) any merger, share exchange, transfer of assets or
similar transaction solely for the purpose of changing Parent’s
jurisdiction of incorporation and resulting in a
reclassification, conversion or exchange of outstanding shares
of Common Stock, if at all, solely into shares of common stock,
ordinary shares or American Depositary

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Shares of the surviving entity or a direct or indirect parent
of the surviving entity; or

     (c) any consolidation, merger, conveyance, transfer, sale,
lease or other disposition of Parent with or into a Subsidiary,
so long as such merger, consolidation, conveyance, transfer,
sale, lease or other disposition is not part of a plan or a
series of transactions designed to or having the effect of
merging or consolidating with or conveying, transferring,
selling, leasing or otherwise disposing of all or substantially
all of Parent’s properties and assets to any other person.

     The term “person” as used in this definition includes any
syndicate or group that would be deemed to be a “person” under
Section 13(d)(3) of the Exchange Act.

          (iv) The following definitions are amended and restated in their entirety to read
as follows:

     “Board of Directors” means either the board of directors of the Company
or Parent, as applicable, or any duly authorized committee of such board.

     “Common Stock” means the common stock, par value $0.01 per share, of Parent
existing on the date of this First Supplemental Indenture immediately following
consummation of the Merger or any other shares of Capital Stock of Parent into
which such Common Stock shall be reclassified or changed, including, subject to
Section 10.05 below, in the event of a merger, consolidation or other similar
transaction involving Parent that is otherwise permitted hereunder in which
Parent is not the surviving person, the common stock of such surviving
corporation.

     “Continuing Director’’ means a director who either was a member of the
Board of Directors on July 1, 2008 or who becomes a member of the Board of
Directors subsequent to that date and whose appointment, election or nomination
for election is duly approved by a majority of the Continuing Directors on the
Board of Directors at the time of such approval, either by specific vote or by
approval of the proxy statement issued by the Company or Parent on behalf of
the applicable Board of Directors in which such individual is named as nominee
for director.

     “Fundamental Change” will be deemed to have occurred upon a Company
Change of Control or a Parent Change of Control.

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     “Subsidiary” of a subject person means any person of which at least a
majority of the outstanding Voting Stock shall at the time directly or
indirectly be owned or controlled by the subject person or by one or more
Subsidiaries of the subject person.

     (b) Article 4 is hereby amended as follows:

               (i) Section 4.02 is hereby amended and restated in its entirety to read as follows:

     “Section 4.02. SEC and Other Reports. Each of Parent and the Company shall
deliver to the Trustee, within 15 days after it files such annual and quarterly
reports, information, documents and other reports with the SEC, copies of its
annual report and of the information, documents and other reports (or copies of
such portions of any of the foregoing as the SEC may by rules and regulations
prescribe) which each is required to file with the SEC pursuant to Section 13
or 15(d) of the Exchange Act. Notwithstanding the foregoing Parent and the
Company shall be deemed, for purposes of this Section 4.02, to have furnished
or delivered reports to the Trustee if (i) such reports are filed with the SEC
via the EDGAR filing system, (ii) such reports are currently available on the
SEC’s website, and (iii) Parent or the Company electronically delivers to the
Trustee a link to the EDGAR filing each time Parent or the Company files such a
report. Delivery of such reports, information and documents to the Trustee is
for informational purposes only and the Trustee’s receipt of such shall not
constitute constructive notice of any information contained therein or
determinable from information contained therein, including the Parent’s or
Company’s compliance with any of their respective covenants hereunder (as to
which the Trustee is entitled to rely exclusively on Officer’s Certificates).”

               (ii) Section 4.06 is hereby amended and restated in its entirety to read as follows:

     “Section 4.06. Delivery of Certain Information. At any time when the
Company is not subject to Section 13 or 15(d) of the Exchange Act until such
time as neither the Securities nor any shares of Common Stock issued upon
conversion of the Securities are “restricted securities” within the meaning of
Rule 144 of the Securities Act, upon the request of a Holder or any beneficial
owner of Securities or Holder or beneficial owner of shares of Common Stock
issued upon conversion thereof, the Company shall promptly furnish or cause to
be furnished Rule 144A Information (as defined below) to such Holder or any
beneficial owner of Securities or Holder or beneficial owner of shares of Common
Stock issued upon conversion thereof, or to a prospective purchaser of any such
security designated by any such Holder or beneficial owner, as the case may be,
to the extent required to permit compliance by such Holder or beneficial

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owner with Rule 144A in connection with the resale of any such security. “Rule
144A Information” shall be such information as is specified pursuant to Rule
144A(d)(4) under the Securities Act. Whether a person is a beneficial owner
shall be determined by the Company to the Company’s reasonable satisfaction.”

     (c) Article 5 is hereby amended as follows:

               (i) Section 5.01 is hereby amended and restated in its entirety to read as follows:

     “Section 5.01. When Parent, Company and Guarantor May Merge or Transfer
Assets. None of Parent, the Company nor the Guarantor shall consolidate with or
merge with or into any other person or convey, transfer, sell, lease or
otherwise dispose of all or substantially all of its properties and assets to
any person, unless:

     (a) any of (1) Parent, the Company or the Guarantor, as the case
may be, is the continuing person in the case of a merger or
consolidation, or (2) the resulting, surviving or transferee person (the
“successor person”) (if other than Parent, the Company or the Guarantor)
will be a corporation or limited liability company (provided that the
successor may be a limited liability company only if the Securities
remain convertible into the common stock of a corporation) organized and
existing under the laws of the United States of America, any State
thereof or the District of Columbia (provided that the successor need
not be organized and existing under the laws of the United States, any
State thereof or the District of Columbia if independent tax counsel
experienced in such matters delivers an opinion to Parent and the
Company stating that, under then existing laws, there would be no
adverse tax consequences to the Holders of Securities in the event the
successor was not so organized and existing) and the successor person
(if not Parent, the Company or the Guarantor, as the case may be) will
expressly assume, by indenture supplemental hereto, executed and
delivered to the Trustee, in form reasonably satisfactory to the
Trustee, in the case of Parent or the Company, all of the obligations of
both Parent and the Company under the Securities and this Indenture, or
in the case of the Guarantor, the Guarantor’s obligations under the
Guarantee;

     (b) immediately after giving effect to such transaction no Default
or Event of Default shall have occurred and be continuing; and

     (c) Parent and the Company shall have delivered to the Trustee
an Officer’s Certificate and an Opinion of Counsel, each

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stating that such consolidation, merger, conveyance, transfer, sale,
lease or other disposal and, if a supplemental indenture is required in
connection with such transaction, such supplemental indenture, comply
with this Article 5 and that all conditions precedent herein provided
relating to such transaction have been satisfied.

     For purposes of the foregoing, the transfer (by lease, assignment, sale or
otherwise) of the properties and assets of one or more Subsidiaries (other than
to Parent, the Company, the Guarantor or another Subsidiary), which, if such
assets were owned by Parent, the Company or the Guarantor, as applicable, would
constitute all or substantially all of the properties and assets of Parent, the
Company, the Guarantor and their Subsidiaries, taken as a whole, shall be
deemed to be the transfer of all or substantially all of the properties and
assets of Parent, the Company or the Guarantor, as applicable.

     The successor person formed by such consolidation or into which Parent,
the Company or the Guarantor, as applicable, is merged or the successor person
to which such conveyance, transfer, sale, lease or other disposition is made
shall succeed to, and be substituted for, and may exercise every right and
power of, Parent and the Company or the Guarantor, as applicable, under this
Indenture with the same effect as if such successor had been named as Parent
and the Company or the Guarantor, as applicable herein; and thereafter, except
in the case of a lease or obligations Parent, the Company or the Guarantor, as
applicable, may have under a supplemental indenture, Parent and the Company or
the Guarantor, as applicable shall be discharged from all obligations and
covenants under this Indenture and the Securities. Subject to Section 9.06,
Parent, the Company, the Guarantor, the Trustee and the successor person shall
enter into a supplemental indenture to evidence the succession and substitution
of such successor person and such discharge and release of Parent and the
Company and/or the Guarantor, as applicable.”

     (d) Article 6 is hereby amended as follows:

          (i) Section 6.01(a) is hereby amended by replacing the term “Company” with
“Parent.”

          (ii) Section 6.01(e) is hereby amended and restated in its entirety to read as follows:

     “(e) the Company, Parent or the Guarantor fails to perform or observe any
covenant applicable to such series of Securities and provided in this
Indenture, the Guarantee, or in the relevant Securities for 90 days after
written notice to the Company from the Trustee, or to the Company and the
Trustee from the Holders of at least 25% in principal amount of

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the outstanding Securities of such series has been received by the
Company;”

          (iii) Sections 6.01(g) and (h) are each hereby amended by replacing each occurrence of
“the Company or the Guarantor” with “the Company, Parent or the Guarantor.”

     (e) Article 9 is hereby amended as follows:

          (i) Section 9.01(f) is hereby amended and restated in its entirety to read as follows:

     “(f) provide for conversion rights of Holders of Securities if any
reclassification or change of the Common Stock or any consolidation, merger
or sale of all or substantially all of Parent’s or the Company’s assets
occurs;”

          (ii) Section 9.01(g) is hereby amended by replacing the term “the Company’s” with
“the Company’s and Parent’s.”

     (f) Article 10 is hereby amended as follows:

          (i) Article 10 is hereby amended by replacing the term “Company” with “Parent;”
provided, however, that the reference to the term “Company” in Section 10.01(a)(4) of Article
10 shall remain unchanged.

          (ii) The proviso in the first sentence of Section 10.01(c) is hereby amended and
restated in its entirety to read as follows:

     “provided that if the Stock Price paid in connection with such transaction is
greater than $548.85 or less than $221.35 (subject in each case to adjustment as
described below), no Additional Shares shall be added to the Conversion Rate.”

          (iii) The fourth paragraph of Section 10.01(c) is hereby amended and restated in its
entirety to read as follows:

     “Notwithstanding the foregoing, in no event shall the total number of shares of
Common Stock issuable upon conversion of the Securities pursuant to this clause (c)
exceed 4.5177 (for the Series A Debentures) and 4.5177 (for the Series B Debentures)
per $1,000 principal amount of Securities, subject to adjustments in the same manner
as the Conversion Rate as set forth in Section 10.04.”

          (iv) The first sentence of Section 10.02(a) is hereby amended and restated in its
entirety to read as follows:

     “Subject to Section 10.01 and the Parent’s rights under Section 10.03,
each Security shall be convertible at the office of the Conversion

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Agent into a combination of cash and fully paid and nonassessable shares
(calculated to the nearest 1/10,000th of a share) of Common Stock,
if any, at a rate (the “Conversion Rate”) equal to, initially, 3.4752 shares of
Common Stock for each $1,000 principal amount of Series A Debentures, and
3.1157 shares of Common Stock for each $1,000 principal amount of Series B
Debentures.”

          (v) Section 10.03(d) is hereby amended by replacing the phrase “to us” with “to the
Company.”

          (vi) Section 10.04(e) is hereby amended by replacing the term “$0.15” with “$0.64.”

          (vii) Section 10.09(d) is hereby amended by replacing “the Company” with “the Company or
Parent.”

     (g) Article 14 is hereby amended as follows:

          (i) Section 14.01 is hereby amended by replacing the term “Company” with
“Company or Parent.”

     (h) Article 15 is hereby amended as follows:

          (i) Section 15.02 is hereby amended and restated in its entirety to read as follows:

     Section 15.02. Notices. Any request, demand, authorization, direction notice, waiver,
consent or communication by the Company, the Guarantor or the Trustee to the other is duly
given if in writing and delivered in person or mailed by first-class mail, postage prepaid,
addressed as follows or transmitted by facsimile transmission to the following facsimile
numbers:

     if to the Company:

Countrywide Financial Corporation

4500 Park Granada

MS CH-11A

Calabasas, CA 91302

Attention: Chief Legal Officer

     if to the Guarantor:

Countrywide Home Loans, Inc.

4500 Park Granada

MS CH-11A

Calabasas, CA 91302

Attention: Chief Legal Officer

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if to the Parent:

Bank of America Corporation

Bank of America Corporate Center

100 North Tryon Street

NC1-007-07-13

Corporate Treasury Division

Charlotte, North Carolina 28255

Telephone: (980) 387-3776

Facsimile: (980) 387-8794

Attention: B. Kenneth Burton, Jr.

together, in the case of notices to the Company, the Guarantor and/or the Parent, with a copy to:

Bank of America Corporation

Legal Department

NC1-002-29-01

101 South Tryon Street

Charlotte, North Carolina 28255

Telephone: (704) 386-4238

Facsimile: (704) 386-1670

Attention: Teresa M. Brenner, Esq.

if to the Trustee:

The Bank of New York Mellon

101 Barclay Street, Floor 8W

New York, New York 10286

Attn: Corporate Trust Administration

Facsimile: (212) 815-5131

The Company, Parent, the Guarantor or the Trustee by notice given to the other in the manner
provided above may designate additional or different addresses for subsequent notices or
communications.

Any notice or communication given to a Securityholder shall be delivered to the Securityholder, in
accordance with the procedures of the Registrar or by first-class mail, postage prepaid, at the
Securityholder’s address as it appears on the registration books of the Registrar and shall be
sufficiently given if so mailed within the time prescribed.

Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect
its sufficiency with respect to other Securityholders. If a notice or communication is mailed in
the manner provided above, it is duly given, whether or not received by the addressee; provided,
however, that no notice to the Trustee shall be deemed to be duly given unless and until the
Trustee actually receives same at the address given above.

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If the Company or Parent mails a notice or communication to the Securityholders, it shall mail a
copy to the Trustee and each Registrar, Paying Agent, Conversion Agent or co-registrar.

          (ii) Section 15.10 is hereby amended by replacing the term “the Company” with “the
Company or Parent.”

          (iii) Section 15.13 is hereby amended by replacing the terms “the Company” with “the Company
and Parent” and “the Company’s” with “the Company’s and Parent’s.”

     (i) Schedule I-A attached to the Indenture is hereby amended and restated in its entirety
with Schedule I-A attached hereto. Schedule I-B attached to the Indenture is hereby amended and
restated in its entirety with Schedule I-B attached hereto.

     SECTION 1.5 Trustee’s Acceptance. The Trustee hereby accepts this First Supplemental
Indenture and agrees to perform the same under the terms and conditions set forth in the
Indenture.

ARTICLE II

MISCELLANEOUS

     SECTION 2.1 Effect of Supplemental Indenture. Upon the later to occur of (i) the execution
and delivery of this First Supplemental Indenture by Parent, the Corporation, Issuer, the
Guarantor and the Trustee and (ii) the effective time of the Merger, the Indenture shall be
supplemented in accordance herewith, and this First Supplemental Indenture shall form a part of
the Indenture for all purposes, and every holder of Securities heretofore or hereafter
authenticated and delivered under the Indenture shall be bound thereby.

     SECTION 2.2 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all
provisions in the Indenture shall remain in full force and effect.

     SECTION 2.3 Indenture and Supplemental Indenture Construed Together.
This First Supplemental Indenture is an indenture supplemental to and in implementation of the
Indenture, and the Indenture and this First Supplemental Indenture shall henceforth be read and
construed together.

     SECTION 2.4 Confirmation and Preservation of Indenture. The Indenture as supplemented by this
First Supplemental Indenture is in all respects confirmed and preserved.

     SECTION 2.5 Conflict with Trust Indenture Act. If any provision of this First Supplemental
Indenture limits, qualifies or conflicts with any provision of the Trust Indenture Act (the “TIA”)
that is required under the TIA to be part of and govern any

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provision of this First Supplemental Indenture, the provision of the TIA shall control. If any
provision of this First Supplemental Indenture modifies or excludes any provision of the TIA that
may be so modified or excluded, the provision of the TIA shall be deemed to apply to the Indenture
as so modified or to be excluded by this First Supplemental Indenture, as the case may be.

     SECTION 2.6 Severability. In case any provision in this First 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 2.7 Terms Defined in the Indenture. All capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Indenture.

     SECTION 2.8 Headings. The Article and Section headings of this First Supplemental Indenture
have been inserted for convenience of reference only, are not to be considered part of this First
Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions
hereof.

     SECTION 2.9 Benefits of First Supplemental Indenture, etc. Nothing in this First Supplemental
Indenture or the Securities, express or implied, shall give to any person, other than the parties
hereto and thereto and their successors hereunder and thereunder and the holders of the
Securities, any benefit of any legal or equitable right, remedy or claim under the Indenture, this
First Supplemental Indenture or the Securities.

     SECTION 2.10 Certain Duties and Responsibilities of the Trustee. In entering into this First
Supplemental Indenture, 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.

     SECTION 2.11 Counterparts. The parties may sign any number of copies of this First
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement.

     SECTION 2.12 Governing Law. This First Supplemental Indenture shall be governed by, and
construed in accordance with, the laws of the State of New York without giving effect to the
conflict of laws rules thereof.

     SECTION 2.13 Trustee Not Responsible for Recitals. The recitals contained herein (other than
the eighth recital) shall be taken as the statements of the Parent, Corporation, the Issuer and
the Guarantor, as the case may be, and the Trustee assumes no responsibility for their
correctness. The Trustee makes no representation as to the validity or sufficiency of this First
Supplemental Indenture.

[Signature Pages Follow]

14

 

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

	 	 	 	 	 	 	 
	 	 	PARENT:	 	 
	 
	 	 	 	 	 	 
	 	 	Bank of America Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Gregory L. Curl 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Gregory L. Curl 	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	THE CORPORATION:	 	 
	 
	 	 	 	 	 	 
	 	 	Red Oak Merger Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Joe L. Price 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Joe L. Price 	 	 
	 

	 	Title:	 	Chief Financial Officer 	 	 

 

 

	 	 	 	 	 	 	 
	 	 	ISSUER:	 	 
	 
	 	 	 	 	 	 
	 	 	Countrywide Financial Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Jennifer S. Sandefur 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Jennifer S. Sandefur 	 	 
	 

	 	Title:	 	Senior Managing Director, Treasurer 	 	 
	 
	 	 	 	 	 	 
	 	 	GUARANTOR:	 	 
	 
	 	 	 	 	 	 
	 	 	Countrywide Home Loans, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Jennifer S. Sandefur 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Jennifer S. Sandefur 	 	 
	 

	 	Title:	 	Senior Managing Director, Treasurer 	 	 

 

 

	 	 	 	 	 	 	 
	 	 	THE TRUSTEE:	 	 
	 
	 	 	 	 	 	 
	 	 	The Bank of New York Mellon	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Rafael E. Miranda 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	Rafael E. Miranda 	 	 
	 

	 	Title:	 	Vice President 	 	 

 

 

Schedule I-A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effective Date
	 	$	221.35	 	 	$	246.98	 	 	$	287.76	 	 	$	301.87	 	 	$	329.31	 	 	$	356.75	 	 	$	384.19	 	 	$	411.64	 	 	$	439.08	 	 	$	466.52	 	 	$	493.96	 	 	$	521.41	 	 	$	548.85	 
	July 15, 2008
	 	 	1.0333	 	 	 	0.6005	 	 	 	0.1616	 	 	 	0.1002	 	 	 	0.0426	 	 	 	0.0197	 	 	 	0.0099	 	 	 	0.0053	 	 	 	0.0030	 	 	 	0.0018	 	 	 	0.0010	 	 	 	0.0006	 	 	 	0.0002	 
	October 15. 2008
	 	 	1.0425	 	 	 	0.5737	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 

 

 

Schedule I-B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Effective Date
	 	$	221.35	 	 	$	246.98	 	 	$	274.42	 	 	$	301.87	 	 	$	320.97	 	 	$	356.75	 	 	$	384.19	 	 	$	411.64	 	 	$	439.08	 	 	$	466.52	 	 	$	493.96	 	 	$	521.41	 	 	$	548.85	 
	August 15, 2008
	 	 	1.3652	 	 	 	0.9506	 	 	 	0.6247	 	 	 	0.3967	 	 	 	0.2851	 	 	 	0.1544	 	 	 	0.0985	 	 	 	0.0652	 	 	 	0.0452	 	 	 	0.0329	 	 	 	0.0253	 	 	 	0.0203	 	 	 	0.0169	 
	November 15, 2008
	 	 	1.3666	 	 	 	0.9331	 	 	 	0.5862	 	 	 	0.3413	 	 	 	0.2239	 	 	 	0.1026	 	 	 	0.0575	 	 	 	0.0338	 	 	 	0.0215	 	 	 	0.0150	 	 	 	0.0114	 	 	 	0.0093	 	 	 	0.0079	 
	February 15, 2009
	 	 	1.3768	 	 	 	0.9235	 	 	 	0.5483	 	 	 	0.2725	 	 	 	0.1386	 	 	 	0.0411	 	 	 	0.0145	 	 	 	0.0029	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 
	May 15, 2009
	 	 	1.4020	 	 	 	0.9332	 	 	 	0.5283	 	 	 	0.1970	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000	 	 	 	0.0000Exhibit 4.6

Exhibit 4.6

RED OAK MERGER CORPORATION

 

SECOND SUPPLEMENTAL INDENTURE

Dated as of July 1, 2008

Supplementing the Subordinated Indenture, dated

as of April 11, 2003, among

Countrywide Financial Corporation,

Countrywide Home Loans, Inc.,

and

The Bank of New York Mellon (formerly known as The Bank of New York), as Trustee,

as supplemented by First Supplemental Indenture, dated as of April 11, 2003, among

Countrywide Financial Corporation, Countrywide Home Loans, Inc., and The Bank of

New York Mellon (formerly known as The Bank of New York), as Trustee.

 

 

     THIS SECOND SUPPLEMENTAL INDENTURE, dated as of July 1, 2008 (the “Second Supplemental
Indenture”), is made by and among RED OAK MERGER CORPORATION, a Delaware corporation (the
“Corporation”), COUNTRYWIDE FINANCIAL CORPORATION, a Delaware corporation (“Issuer”), COUNTRYWIDE
HOME LOANS, INC., a New York corporation (“Guarantor”), and THE BANK OF NEW YORK MELLON (formerly
known as The Bank of New York), a New York banking corporation, as Trustee (the “Trustee”) under
the Indenture referred to herein.

W I T N E S S E T H:

     WHEREAS, Issuer, the Guarantor and the Trustee are parties to a Subordinated Indenture dated
as of April 11, 2003, as supplemented by First Supplemental Indenture, dated as of April 11, 2003,
among Issuer, the Guarantor and the Trustee (as amended and supplemented, the “Indenture”),
providing for the issuance of Debt Securities;

     WHEREAS, there is outstanding under the terms of the Indenture one or more series of Debt
Securities (the “Securities”);

     WHEREAS, Bank of America Corporation, Issuer and the Corporation have entered into an
Agreement and Plan of Merger (the “Merger Agreement”), dated as of January 11, 2008, pursuant to
which Issuer will merge with and into the Corporation (the “Merger”), with the Corporation as the
surviving corporation in the Merger;

     WHEREAS, the Merger is being consummated on July 1, 2008;

     WHEREAS, Section 10.01(1) of the Indenture provides that in the case of a merger of Issuer
into another corporation, the surviving corporation shall expressly assume by supplemental
indenture all the obligations and covenants under the Securities and the Indenture to be
performed and observed by Issuer;

     WHEREAS, Section 9.01(a) of the Indenture provides that Issuer and the Guarantor, with the
authorization of their respective Boards of Directors, and the Trustee, may amend the Indenture
without notice to or consent of any holders of the Securities to evidence the succession of another
corporation to Issuer by merger and the assumption by the successor corporation of the obligations
and covenants of Issuer under the Indenture;

     WHEREAS, this Second Supplemental Indenture has been duly authorized by all necessary
corporate action on the part of each of Issuer, the Guarantor and the Corporation;

     WHEREAS, the Trustee has determined this Second Supplemental Indenture is satisfactory to it
in form; and

     WHEREAS, all things necessary to make this Second Supplemental Indenture a valid indenture
and agreement according to its terms have been done.

 

 

     NOW, THEREFORE, in consideration of these premises, Issuer, the Guarantor, the Corporation
and the Trustee agree as follows for the equal and ratable benefit of the holders of the
Securities:

ARTICLE I

ASSUMPTION BY SUCCESSOR CORPORATION

AND SUPPLEMENTAL PROVISIONS

     SECTION 1.1 Assumption of the Securities.

     (a) The Corporation hereby represents and warrants that

     (i) it is a corporation organized and existing under the laws of the State of
Delaware and is the surviving corporation in the Merger; and

     (ii) the execution, delivery and performance of this Second
Supplemental Indenture has been duly authorized by the Board of Directors of the
Corporation.

     (b) The Corporation hereby expressly assumes the due and punctual payment of the principal of
(and premium, if any) and interest on all the Securities and the performance of every covenant of
the Indenture on the part of Issuer to be performed or observed.

     SECTION 1.2 Name. Effective July 1, 2008, the name of Issuer, as the successor
corporation under the Indenture, shall be “Red Oak Merger Corporation.”

     SECTION 1.3 Trustee’s Acceptance. The Trustee hereby accepts this Second Supplemental
Indenture and agrees to perform the same under the terms and conditions set forth in the
Indenture.

ARTICLE II

MISCELLANEOUS

     SECTION 2.1 Effect of Supplemental Indenture. Upon the later to occur of (i) the execution and
delivery of this Second Supplemental Indenture by the Corporation, Issuer, the Guarantor and the
Trustee and (ii) the effective time of the Merger, the Indenture shall be supplemented in
accordance herewith, and this Second Supplemental Indenture shall form a part of the Indenture for
all purposes, and every holder of Securities heretofore or hereafter authenticated and delivered
under the Indenture shall be bound thereby.

     SECTION 2.2 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all
provisions in the Indenture shall remain in full force and effect.

     SECTION 2.3 Indenture and Supplemental Indentures Construed Together.
This Second Supplemental Indenture is an indenture supplemental to and in

2

 

implementation of the Indenture, and the Indenture and this Second Supplemental Indenture
shall henceforth be read and construed together.

     SECTION 2.4 Confirmation and Preservation of Indenture. The Indenture as supplemented by this
Second Supplemental Indenture is in all respects confirmed and preserved.

     SECTION 2.5 Conflict with Trust Indenture Act. If any provision of this Second Supplemental
Indenture limits, qualifies or conflicts with any provision of the Trust Indenture Act (the “TIA”)
that is required under the TIA to be part of and govern any provision of this Second Supplemental
Indenture, the provision of the TIA shall control. If any provision of this Second Supplemental
Indenture modifies or excludes any provision of the TIA that may be so modified or excluded, the
provision of the TIA shall be deemed to apply to the Indenture as so modified or to be excluded by
this Second Supplemental Indenture, as the case may be.

     SECTION 2.6 Severability. In case any provision in this Second 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 2.7 Terms Defined in the Indenture. All capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Indenture.

     SECTION 2.8 Addresses for Notice, etc., to the Corporation and Trustee.
Any notice or demand which by any provisions of this Second Supplemental Indenture or the Indenture
is required or permitted to be given or served by the Trustee or by the holders of Securities to or
on the Corporation may be given in the manner specified in the Indenture to the following address:

Bank of America Corporation

Bank of America Corporate Center

100 North Tryon Street

NC1-007-07-13

Corporate Treasury Division

Charlotte, North Carolina 28255

Telephone: (980) 387-3776

Facsimile: (980) 387-8794

Attention: B. Kenneth Burton, Jr.

Together with a copy to:

Bank of America Corporation

Legal Department

NC1-002-29-01

101 South Tryon Street

3

 

Charlotte, North Carolina 28255

Telephone: (704) 386-4238

Facsimile: (704) 386-1670

Attention: Teresa M. Brenner, Esq.

     SECTION 2.9 Headings. The Article and Section headings of this Second Supplemental Indenture
have been inserted for convenience of reference only, are not to be considered part of this
Second Supplemental Indenture and shall in no way modify or restrict any of the terms or
provisions hereof.

     SECTION 2.10 Benefits of Second Supplemental Indenture, etc. Nothing in this Second
Supplemental Indenture or the Securities, express or implied, shall give to any Person, other than
the parties hereto and thereto and their successors hereunder and thereunder and the holders of
the Securities, any benefit of any legal or equitable right, remedy or claim under the Indenture,
this Second Supplemental Indenture or the Securities.

     SECTION 2.11 Certain Duties and Responsibilities of the Trustee. In entering into this Second
Supplemental Indenture, 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.

     SECTION 2.12 Counterparts. The parties may sign any number of copies of this Second
Supplemental Indenture. Each signed copy shall be an original, but all of them together
represent the same agreement.

     SECTION 2.13 Governing Law. This Second Supplemental Indenture shall be deemed to be a
contract made under the laws of the State of New York, and for all purposes shall be governed by
and construed in accordance with the laws of said State without regard to conflicts of laws
principles.

     SECTION 2.14 Trustee Not Responsible for Recitals. The recitals contained herein (other than
the eighth recital) shall be taken as the statements of the Corporation, the Issuer and the
Guarantor, as the case may be, and the Trustee assumes no responsibility for their correctness.
The Trustee makes no representation as to the validity or sufficiency of this Second Supplemental
Indenture.

[Signature Pages Follow]

4

 

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

	 	 	 	 	 	 	 
	 	 	THE CORPORATION:	 	 
	 
	 	 	 	 	 	 
	 	 	Red Oak Merger Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Joe
L. Price 	 	 
	 

	 	Name:
	 	Joe L. Price
	 	 
	 

	 	Title:	 	Chief Financial Officer 	 	 

 

 

	 	 	 	 	 	 	 
	 	 	ISSUER:	 	 
	 
	 	 	 	 	 	 
	 	 	Countrywide Financial Corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ JENNIFER S. SANDEFUR 	 	 
	 

	 	Name:
	 	Jennifer S. Sandefur
	 	 
	 

	 	Title:	 	Senior Managing Director, Treasurer 	 	 
	 
	 	 	 	 	 	 
	 	 	GUARANTOR:	 	 
	 
	 	 	 	 	 	 
	 	 	Countrywide Home Loans, Inc.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ JENNIFER S. SANDEFUR 	 	 
	 

	 	Name:
	 	Jennifer S. Sandefur
	 	 
	 

	 	Title:	 	Senior Managing Director, Treasurer 	 	 

 

 

	 	 	 	 	 	 	 
	 	 	THE TRUSTEE:	 	 
	 
	 	 	 	 	 	 
	 	 	The Bank of New York Mellon	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/
Rafael E. Miranda 	 	 
	 

	 	Name:
	 	Rafael E. Miranda
	 	 
	 

	 	Title:	 	Vice President

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