Document:

EX-4.2.3

  
 
 Exhibit 4.2.3
  
 

 

   
 
 NEW SUNWARD HOLDING FINANCIAL VENTURES B.V.,
 as Company,
  
 and

 

CEMEX, S.A.B. de C.V.
 and
 NEW SUNWARD HOLDING B.V.,
 as Guarantors,

 
 and
  

THE BANK OF NEW YORK MELLON,
 as Trustee

 

 

  

THIRD SUPPLEMENTAL INDENTURE

 
 Dated as of February 24, 2020

 
 TO
  

Indenture, dated as of December 18, 2006, among
 New Sunward Holding Financial Ventures B.V., as
Company, CEMEX, S.A.B. de C.V., 
 CEMEX México, S.A. de C.V. and New Sunward Holding B.V., as Guarantors, and The
 Bank of New York Mellon, as Trustee

 

 

  

U.S. $900,000,000
 
 (C10)

 
 Callable Perpetual Dual-Currency Notes

 

 

  
 

  

 

  

THIS THIRD SUPPLEMENTAL INDENTURE, dated as of February 24, 2020 (the “Third Supplemental
Indenture”), is by and among New Sunward Holding Financial Ventures B.V., as issuer (the “Company”), CEMEX, S.A.B. de C.V., a publicly traded variable stock corporation (sociedad anónima bursátil de capital
variable) organized under the laws of Mexico (“CEMEX”), and New Sunward Holding B.V. (“New Sunward”), as guarantors, and The Bank of New York Mellon, as trustee (the “Trustee”).

 
 WHEREAS, the Company, CEMEX, New Sunward, CEMEX México, S.A. de C.V. (“CEMEX México”) and the Trustee heretofore executed and delivered the Indenture, dated as of December
18, 2006 (the “Original Indenture”), with respect to the U.S. $900,000,000 Callable Perpetual Dual-Currency Notes (the “Securities”); and

 
 WHEREAS, pursuant to the Original Indenture, the Company issued and the Trustee authenticated and delivered the Securities, which Securities are guaranteed by each of CEMEX, New Sunward and CEMEX
México; and
  

WHEREAS, pursuant to Section 901 of the Original Indenture, the Company, CEMEX, New Sunward, CEMEX
México and the Trustee entered into the First Supplemental Indenture, dated as of August 10, 2009 (the “First Supplemental Indenture”), in order to secure the Securities; and

 
 WHEREAS, the Company, CEMEX, New Sunward, CEMEX México, the Trustee, Swap 10 Capital (SPV) Limited and C10 Capital (SPV) Limited entered into the Second Supplemental Indenture, dated as of
May 12, 2010 (the “Second Supplemental Indenture,” and the Original Indenture, as so amended by the First Supplemental Indenture and the Second Supplemental Indenture, the “Indenture”), to amend the Original Indenture for
such changes contained in the Second Supplemental Indenture, approved by a majority of the then outstanding aggregate principal amount of the Securities and a majority of the then outstanding aggregate principal amount (by aggregate liquidation
preference) of the Debentures;
  

WHEREAS, on November 13, 2019, CEMEX entered into a merger agreement pursuant to which CEMEX and certain
of its Subsidiaries organized and existing under the laws of Mexico (the “Mexican Subsidiaries”), including CEMEX México, agreed that each of the Mexican Subsidiaries would, effective as of December 1, 2019, merge with and into
CEMEX (each of such mergers, a “Merger,” and, collectively, the “Mergers”), with CEMEX as the surviving entity of each Merger. In accordance with Mexican law, each Merger shall become effective against third parties three
months after the date of filing of the corresponding merger deed with the Mexican Public Register of Commerce (Registro Público de Comercio), which for the Merger of CEMEX México with and into CEMEX is expected to be March 9,
2020. For the avoidance of doubt, none of the Mergers is effective against third parties as of the date hereof, and all of them are currently expected to become effective before the end of the first quarter of 2020; and

 
 WHEREAS, Section 801 of the Original Indenture provides that in the event that a Guarantor or any other person, as applicable, shall consolidate with or merge into another Guarantor, such other
Guarantor shall expressly agree to indemnify each Holder (and each holder of a beneficial interest in a Security) against any tax, levy, assessment or governmental charge payable by withholding or deduction thereafter imposed on such Holder (or
holder of a beneficial interest in the Securities) solely as a consequence of any Merger with respect to payments in respect of the Securities or any purchase thereof by the Company or any Guarantor, or the Successor of any thereof; and

 

 

2
 

  

  

WHEREAS, this Third Supplemental Indenture has been duly authorized by all necessary corporate action on
the part of CEMEX.
  

NOW, THEREFORE, CEMEX and the Trustee agree as follows for the equal and ratable benefit of each other
and the Holders of the Securities:
  

ARTICLE I

 INDEMNIFICATION OF HOLDERS

 
 Section 1.1 Indemnification of Holders. CEMEX hereby expressly agrees to indemnify each Holder (and each holder of a beneficial interest in a Security) against any tax, levy, assessment or
governmental charge payable by withholding or deduction thereafter imposed on such Holder (or holder of a beneficial interest in the Securities) solely as a consequence of any Merger with respect to payments in respect of the Securities or any
purchase thereof by the Company or any Guarantor, or the Successor of any thereof.

 
 Section 1.2          Trustee’s Acceptance. The Trustee hereby accepts this Third 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 Third Supplemental Indenture. Upon the execution and delivery of this Third Supplemental Indenture by CEMEX and the Trustee, the Indenture shall be modified in accordance herewith, and this Third 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. Upon such execution and delivery, (i) the definition of
“Guarantor” contained in Section 101 of the Indenture shall be modified to read as follows: “Guarantor” means each of CEMEX and New Sunward Holding, and each of their respective Successors, if any, who becomes a Successor
pursuant to Section 801, and (ii) all references to “Guarantor” or “Guarantors” in the Indenture and the Securities shall be modified accordingly.

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

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

 

 
3
 

  

  

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

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

 
 Section 2.6          Terms Defined in the Indenture. All capitalized terms not otherwise defined herein shall
have the meanings ascribed to them in the Indenture.
  

Section 2.7         
Headings. The Article and Section headings of this Third Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Third Supplemental Indenture and shall in no way modify or
restrict any of the terms or provisions hereof.
  

Section 2.8         
Benefits of Supplemental Indenture, etc. Nothing in this Third 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 Third Supplemental Indenture or the Securities.

 
 Section 2.9          Successors. All agreements in this Third Supplemental Indenture by CEMEX shall bind its
successors. All agreements of the Trustee in this Third Supplemental Indenture shall bind its successors.
  
 Section 2.10       Trustee Not Responsible for Recitals. The recitals contained herein shall be taken as the statements of CEMEX and the Trustee assumes no responsibility for their correctness.
The Trustee shall have no liability for the validity or sufficiency of this Third Supplemental Indenture.
  
 Section 2.11       Certain Duties and Responsibilities of the Trustee. In entering into this Third 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       Governing Law. This Third Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York but without regard to principals of
conflicts of laws.
  

Section 2.13       Counterpart
Originals. The parties may sign any number of copies of this Third Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 
  
 
 

 
4
 

  

  

IN WITNESS WHEREOF, the parties have caused this Third Supplemental Indenture to be duly executed on the
date first mentioned above.
 

	 	 	 
	 	NEW SUNWARD HOLDING FINANCIAL VENTURES B.V., as Company
	 	 	 
	 	By:	/s/ J.G. Cavazos Garza | P.A. Hernandez
	 	 	Name:  J.G. Cavazos Garza | P.A. Hernandez
	 	 	Title:    Managing Director
	 	 	 
	 	CEMEX, S.A.B. de C.V., as Guarantor
	 	 	 
	 	By:	/s/ Jaime A. Chapa González
	 	 	Name: Jaime A. Chapa González
	 	 	Title:   Attorney-In-Fact
	 	 	 
	 	NEW SUNWARD HOLDING B.V., as Guarantor
	 	 	 
	 	By:	/s/ J.G. Cavazos Garza | P.A. Hernandez
	 	 	Name:  J.G. Cavazos Garza | P.A. Hernandez
	 	 	Title:    Managing Directors
	 	 	 
	 	THE BANK OF NEW YORK MELLON, as Trustee
	 	 	 
	 	By:	/s/ Wanda Camacho
	 	 	Name: Wanda Camacho
	 	 	Title:    Vice President

  
 
 

5EX-4.3.3

Exhibit 4.3.3
 

 

 
 NEW SUNWARD HOLDING FINANCIAL VENTURES B.V.,
 as Company,

 

and

 

CEMEX, S.A.B. de C.V.
 and
 NEW SUNWARD HOLDING B.V.,
 as Guarantors,

 

and

 

THE BANK OF NEW YORK MELLON,
 as Trustee

 

 

  

THIRD SUPPLEMENTAL INDENTURE

 

Dated as of February 24, 2020

 

TO

 

Indenture, dated as of February 12, 2007, among

New Sunward Holding Financial Ventures B.V., as Company, CEMEX, S.A.B. de C.V., 
 CEMEX México, S.A. de C.V. and New Sunward Holding B.V., as Guarantors, and The
 Bank of New York Mellon, as Trustee
  
 

 

   

U.S. $750,000,000
 
 (C8)

 

Callable Perpetual Dual-Currency Notes

 

 

 

 

 

   

THIS THIRD SUPPLEMENTAL INDENTURE, dated as of February 24, 2020 (the “Third Supplemental
Indenture”), is by and among New Sunward Holding Financial Ventures B.V., as issuer (the “Company”), CEMEX, S.A.B. de C.V., a publicly traded variable stock corporation (sociedad anónima bursátil de capital
variable) organized under the laws of Mexico (“CEMEX”), and New Sunward Holding B.V. (“New Sunward”), as guarantors, and The Bank of New York Mellon, as trustee (the “Trustee”).

 

WHEREAS, the Company, CEMEX, New Sunward, CEMEX México, S.A. de C.V.
(“CEMEX México”) and the Trustee heretofore executed and delivered the Indenture, dated as of February 12, 2007 (the “Original Indenture”), with respect to the U.S. $750,000,000 Callable Perpetual Dual-Currency Notes
(the “Securities”); and
  

WHEREAS, pursuant to the Original Indenture, the Company issued and the Trustee
authenticated and delivered the Securities, which Securities are guaranteed by each of CEMEX, New Sunward and CEMEX México; and
  

WHEREAS, pursuant to Section 901 of the Original Indenture, the Company, CEMEX, New
Sunward, CEMEX México and the Trustee entered into the First Supplemental Indenture, dated as of August 10, 2009 (the “First Supplemental Indenture”), in order to secure the Securities; and

 

WHEREAS, the Company, CEMEX, New Sunward, CEMEX México, the Trustee, Swap 8
Capital (SPV) Limited and C8 Capital (SPV) Limited entered into the Second Supplemental Indenture, dated as of May 12, 2010 (the “Second Supplemental Indenture,” and the Original Indenture, as so amended by the First Supplemental
Indenture and the Second Supplemental Indenture, the “Indenture”), to amend the Original Indenture for such changes contained in the Second Supplemental Indenture, approved by a majority of the then outstanding aggregate principal amount
of the Securities and a majority of the then outstanding aggregate principal amount (by aggregate liquidation preference) of the Debentures;
  

WHEREAS, on November 13, 2019, CEMEX entered into a merger agreement pursuant to which
CEMEX and certain of its Subsidiaries organized and existing under the laws of Mexico (the “Mexican Subsidiaries”), including CEMEX México, agreed that each of the Mexican Subsidiaries would, effective as of December 1, 2019,
merge with and into CEMEX (each of such mergers, a “Merger,” and, collectively, the “Mergers”), with CEMEX as the surviving entity of each Merger. In accordance with Mexican law, each Merger shall become effective against
third parties three months after the date of filing of the corresponding merger deed with the Mexican Public Register of Commerce (Registro Público de Comercio), which for the Merger of CEMEX México with and into CEMEX is
expected to be March 9, 2020. For the avoidance of doubt, none of the Mergers is effective against third parties as of the date hereof, and all of them are currently expected to become effective before the end of the first quarter of 2020;
and
  

WHEREAS, Section 801 of the Original Indenture provides that in the event that a
Guarantor or any other person, as applicable, shall consolidate with or merge into another Guarantor, such other Guarantor shall expressly agree to indemnify each Holder (and each holder of a beneficial interest in a Security) against any tax, levy,
assessment or governmental charge payable by withholding or deduction thereafter imposed on such Holder (or holder of a beneficial interest in the Securities) solely as a consequence of any Merger with respect to payments in respect of the
Securities or any purchase thereof by the Company or any Guarantor, or the Successor of any thereof; and
  
 

 
2

  

   

 
 WHEREAS,
this Third Supplemental Indenture has been duly authorized by all necessary corporate action on the part of CEMEX.
  

NOW, THEREFORE, CEMEX and the Trustee agree as follows for the equal and ratable benefit
of each other and the Holders of the Securities:
  

ARTICLE I
 
 INDEMNIFICATION OF HOLDERS

 

Section 1.1         Indemnification of
Holders. CEMEX hereby expressly agrees to indemnify each Holder (and each holder of a beneficial interest in a Security) against any tax, levy, assessment or governmental charge payable by withholding or deduction thereafter imposed on such
Holder (or holder of a beneficial interest in the Securities) solely as a consequence of any Merger with respect to payments in respect of the Securities or any purchase thereof by the Company or any Guarantor, or the Successor of any
thereof.
  

Section 1.2           
Trustee’s Acceptance. The Trustee hereby accepts this Third 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
Third Supplemental Indenture. Upon the execution and delivery of this Third Supplemental Indenture by CEMEX and the Trustee, the Indenture shall be modified in accordance herewith, and this Third 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. Upon such execution and delivery, (i) the definition of “Guarantor” contained in
Section 101 of the Indenture shall be modified to read as follows: “Guarantor” means each of CEMEX and New Sunward Holding, and each of their respective Successors, if any, who becomes a Successor pursuant to Section 801, and (ii) all
references to “Guarantor” or “Guarantors” in the Indenture and the Securities shall be modified accordingly.
  

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

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

 
3

  

   

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

 

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

Section 2.6            Terms
Defined in the Indenture. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Indenture.
  

Section 2.7           
Headings. The Article and Section headings of this Third Supplemental Indenture have been inserted for convenience of reference only, are not to be considered a part of this Third Supplemental Indenture and shall in no way modify or restrict
any of the terms or provisions hereof.
  

Section 2.8            Benefits
of Supplemental Indenture, etc. Nothing in this Third 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 Third Supplemental Indenture or the Securities.

 

Section 2.9           
Successors. All agreements in this Third Supplemental Indenture by CEMEX shall bind its successors. All agreements of the Trustee in this Third Supplemental Indenture shall bind its successors.

 

Section 2.10        Trustee Not Responsible for
Recitals. The recitals contained herein shall be taken as the statements of CEMEX and the Trustee assumes no responsibility for their correctness. The Trustee shall have no liability for the validity or sufficiency of this Third Supplemental
Indenture.
  

Section 2.11        Certain Duties and
Responsibilities of the Trustee. In entering into this Third 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        Governing Law. This Third
Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York but without regard to principals of conflicts of laws.

 

Section 2.13        Counterpart Originals. The
parties may sign any number of copies of this Third Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 
 

 
4

  

   

IN WITNESS WHEREOF, the parties have caused this Third Supplemental Indenture to be duly executed on the
date first mentioned above.
 

	 	 	
	 	NEW SUNWARD HOLDING FINANCIAL VENTURES B.V.,
 as
Company
 
	 	 
	 	By:	/s/ J.G. Cavazos Garza | P.A. Hernandez
	 	 	Name:  J.G. Cavazos Garza | P.A. Hernandez
	 	 	Title:    Managing Directors

	 	 	 
	 	CEMEX, S.A.B. de C.V.,
 as Guarantor

	 	 
	 	By:	/s/ Jaime A. Chapa González
	 	 	Name: Jaime A. Chapa González
	 	 	Title:   Attorney-In-Fact

	 	 	 
	 	NEW SUNWARD HOLDING B.V.,
 as
Guarantor
 
	 	 
	 	By:	/s/ J.G. Cavazos Garza | P.A. Hernandez
	 	 	Name:  J.G. Cavazos Garza | P.A. Hernandez
	 	 	Title:    Managing Directors

	 	 	 
	 	THE BANK OF NEW YORK MELLON,
 as
Trustee
 
	 	 
	 	By:	/s/ Wanda Camacho
	 	 	Name:  Wanda Camacho
	 	 	Title:    Vice President

 
 

5

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