Document:

EX-4.1

Exhibit 4.1

 

 

Sixth Supplemental Indenture 

between

MetLife, Inc.,

as Issuer,

and

The Bank of New York Mellon Trust Company, N.A.,

as Trustee

Dated as of August 7, 2008

 

 

 

 

Table of Contents

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page
	ARTICLE I DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	 

	 	SECTION 1.1
	 	Definitions of Terms
	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE II REMARKETING AND RESET MECHANICS	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	 

	 	SECTION 2.1
	 	Remarketing and Reset Mechanics
	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE III REDEMPTION	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	 

	 	SECTION 3.1
	 	Redemption
	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IV EVENTS OF
DEFAULT	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	 

	 	SECTION 4.1
	 	Events of Default	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE V MISCELLANEOUS	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	 

	 	SECTION 5.1
	 	Effectiveness
	 	 	4	 
	 

	 	SECTION 5.2
	 	Trustee Not Responsible for Recitals
	 	 	4	 
	 

	 	SECTION 5.3
	 	Governing Law
	 	 	5	 
	 

	 	SECTION 5.4
	 	Counterparts
	 	 	5	 

i  

 

     SIXTH SUPPLEMENTAL INDENTURE, dated as of August 7, 2008 (this “Sixth Supplemental
Indenture”), between MetLife, Inc., a Delaware corporation (the “Company”), and The Bank of New
York Mellon Trust Company, N.A., as trustee (the “Trustee”), supplementing the First Supplemental
Indenture, dated as of June 21, 2005 (the “First Supplemental Indenture”), between the Company and
The Bank of New York Mellon Trust Company, N.A. (as successor in interest to J.P. Morgan Trust
Company, National Association), as trustee, and further supplementing the Subordinated Indenture,
dated as of June 21, 2005 (the “Base Indenture” and together with the First Supplemental Indenture,
the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (as
successor in interest to J.P. Morgan Trust Company, National Association), as trustee.

Recitals

     WHEREAS, the Company executed and delivered the Base Indenture to the Trustee to provide for
the future issuance of the Company’s unsecured subordinated debentures, notes or other evidence of
indebtedness (the “Securities”), to be issued from time to time in one or more series as might be
determined by the Company under the Base Indenture;

     WHEREAS, the Company executed and delivered the First Supplemental Indenture to the Trustee to
provide for the issuance of the Company’s 4.82% Junior Subordinated Debt Securities, Series A, due
2039 of MetLife (the “Junior Subordinated Debentures”);

     WHEREAS, pursuant to Section 2.12 of the First Supplemental Indenture, the Company and the
Trustee are required to enter into this Sixth Supplemental Indenture to make provision for
remarketing and reset mechanics, including notices in respect thereof, on the basis set forth in
Article X of the Trust Agreement (as defined below) with respect to the Junior Subordinated
Debentures;

     WHEREAS, the Company has requested that the Trustee execute and deliver this Sixth
Supplemental Indenture; and

     WHEREAS, all requirements necessary to make this Sixth Supplemental Indenture a valid
instrument in accordance with its terms, including its execution and delivery, have been duly
authorized in all respects.

     NOW, THEREFORE, the Company and the Trustee agree as follows:

ARTICLE I

Definitions

     SECTION 1.1 Definitions of Terms.

     Unless the context otherwise requires or unless otherwise set forth herein:

          (a) a term not defined herein that is defined in the Indenture, has the same meaning when used
in this Sixth Supplemental Indenture;

 1 

 

          (b) the definition of any term in this Sixth Supplemental Indenture that is also defined in
the Indenture, shall for the purposes of this Sixth Supplemental Indenture supersede the definition
of such term in the Indenture;

          (c) a term defined anywhere in this Sixth Supplemental Indenture has the same meaning
throughout;

          (d) the definition of a term in this Sixth Supplemental Indenture is not intended to have any
effect on the meaning or definition of an identical term that is defined in the Indenture insofar
as the use or effect of such term in the Base Indenture, as previously defined, is concerned;

          (e) the singular includes the plural and vice versa;

          (f) headings are for convenience of reference only and do not affect interpretation; and

          (g) the following terms have the meanings given to them in this Section 1.1(g):

     “Additional Interest” means the interest that shall accrue on any interest
on the Junior Subordinated Debentures the payment of which has not been made on
the applicable Interest Payment Date. References herein to “interest” include
Additional Interest unless the context otherwise requires.

     “Base Indenture” has the meaning provided in the preamble hereto.

     “Company” has the meaning set forth in the preamble hereto.

     “Comparable Treasury Issue” means the U.S. Treasury security selected by the Premium
Calculation Agent as having a maturity comparable to the term remaining from the Redemption Date to
August 15, 2018 (the “Remaining Life”) that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of
comparable term.

     “Comparable Treasury Price” means, with respect to a Redemption Date (1) the average of five
Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the Premium Calculation Agent obtains fewer
than five such Reference Treasury Dealer Quotations, the average of all such quotations.

     “First Supplemental Indenture” has the meaning set forth in the preamble hereto.

     “Indenture” has the meaning set forth in the preamble hereto.

     “Junior Subordinated Debentures” has the meaning set forth in the recitals hereto.

     “Make-Whole
Redemption Amount” means the sum, as calculated
by the Premium Calculation Agent, of the present values of the remaining scheduled payments of principal and interest thereon for the principal amount to be redeemed (not including any portion of those payments of interest accrued as of the date of redemption), discounted from their respective scheduled payment dates to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus the Spread plus, in each case, accrued and unpaid interest thereon to the date of redemption.

 2 

 

     “Premium Calculation Agent” means an investment banking institution of national standing
appointed by MetLife, Inc.

     “Reference
Treasury Dealer” means (1) Banc of America Securities
LLC and Barclays Capital Inc. and their successors, provided, however, that if any of
the foregoing shall cease to be a primary U.S. government securities dealer in New York City (a
“Primary Treasury Dealer”), MetLife, Inc. will substitute therefore another Primary Treasury
Dealer, and (2) any other Primary Treasury Dealers selected by the Premium Calculation Agent after
consultation with MetLife, Inc.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any redemption date, the average, as determined by the Premium Calculation Agent of the bid and
ask prices for the Comparable Treasury Issue (expressed in each case as a percentage of its
principal amount) quoted in writing to the Premium Calculation Agent at 5:00 p.m., New York City
time, on the third Business Day preceding such redemption date.

     “Remarketing” means the remarketing of the Junior Subordinated Debentures on or about August
12, 2008.

     “Remarketing Agreement” means the remarketing agreement dated July 11, 2008 among MetLife,
Inc., Banc of America Securities LLC, and The Bank of New York Mellon Trust Company, N.A., not
individually, but solely as Purchase Contract Agent (as defined in the Remarketing Agreement) and
as attorney-in-fact of the holders of Purchase Contracts (as defined in the Remarketing Agreement).

     “Securities” has the meaning set forth in the recitals of this Sixth Supplemental Indenture.

     “Sixth Supplemental Indenture” has the meaning set forth in preamble hereto.

     “Spread” means a number
of basis points determined by the Company and the Remarketing Agents
upon a successful Remarketing (as defined in the Remarketing Agreement).

     “Treasury Rate” means, with respect to any redemption date, the yield, under the heading that
represents the average for the immediately preceding week, appearing in the most recently published
statistical release designated H.15(519) or any successor publication that is published weekly by
the Board of Governors of the Federal Reserve System and that establishes yields on actively traded
U.S. Treasury securities adjusted to constant maturity under the caption Treasury Constant
Maturities, for the maturity corresponding to the Comparable Treasury Issue (if no maturity is
within three months before or after the Remaining Life, yields for the two published maturities
most closely corresponding to the Comparable Treasury Issue will be determined and the Treasury
Rate will be interpolated or extrapolated from such yields on a

 3 

 

straight line basis, rounding to the nearest month); or if such release (or any successor
release) is not published during the week preceding the calculation date or does not contain such
yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Price, calculated using a price for the Comparable Treasury Issue (expressed as a
percentage of its principal amount) equal to the Comparable Treasury Issue for such redemption
date. The Treasury Rate will be calculated on the third Business Day preceding the redemption date.

     “Trust Agreement” means the Amended and Restated Declaration of Trust, dated as of June 21,
2005, among the Company, as sponsor, The Bank of New York Mellon Trust Company, N.A. (as successor
in interest to J.P. Morgan Trust Company, National Association), as property trustee, BNY Mellon
Trust of Delaware (as successor in interest to Chase Bank USA, National Association), as Delaware
Trustee, the administrative trustees named therein and the holders from time to time of the
beneficial interests in the assets of the Trust.

     “Trustee” has the meaning set forth in the preamble hereto.

ARTICLE II

Remarketing and Reset Mechanics

     SECTION 2.1 Remarketing and Reset Mechanics.

     The provisions of Article X of the Trust Agreement shall apply, mutatis mutandis, to the
Remarketing of the Junior Subordinated Debentures.

ARTICLE III

Redemption

     SECTION 3.1 Redemption.

     Upon
a Successful Remarketing (as defined in the Remarketing Agreement), the Junior
Subordinated Debentures will be redeemable at MetLife, Inc.’s option, in whole or in part, at any
time, on or after August 15, 2010, at a redemption price equal to the greater of 100% of the
principal amount to be redeemed plus accrued and unpaid interest to the date of redemption and the
Make-Whole Redemption Amount.

ARTICLE IV

Events of Default

     SECTION
4.1 Events of Default

     Upon
a Successful Remarketing, Section 6.1(a)(i) of
the First Supplemental Indenture shall be deleted in its entirety
and replaced with the following:

     “the Company defaults in the payment of any installment of interest
(including Additional Interest) upon the Junior Subordinated Debentures, as and
when the same shall become due and payable, and continuance of such default for
a period of 30 days or more;”

ARTICLE V

Miscellaneous

     SECTION
5.1 Effectiveness.

     This Sixth Supplemental Indenture will become effective upon its execution and delivery.

     SECTION
5.2 Trustee Not Responsible for Recitals.

     The recitals herein contained are made by the Company and not by the Trustee, and the Trustee
assumes no responsibility for the correctness thereof. The Trustee makes no representation as to
the validity or sufficiency of this Sixth Supplemental Indenture.

 4 

 

     SECTION
5.3 Governing Law.

     This Sixth Supplemental Indenture will be governed by, and construed in accordance with, the
internal laws of the State of New York.

     SECTION
5.4 Counterparts.

     This Sixth 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.

 5 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Sixth Supplemental Indenture to be
duly executed by their respective officers thereunto duly authorized, on the date or dates
indicated in the acknowledgments and as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	MetLife, Inc., 

as Issuer	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	/s/ Eric T. Steigerwalt

Name:  Eric T. Steigerwalt
	 	 
	 

	 	 	 	Title: Senior Vice President and Treasurer	 	 
	 
	 	 	 	 	 	 
	 	 	The Bank of New York Mellon Trust Company, N.A.,

as Trustee	 	 
	 
	 	 	 	 	 	 
	 
	 	By:	 	/s/ Richard
Tarnas

Name:  Richard
Tarnas
	 	 
	 

	 	 	 	Title:  Vice PresidentEX-10.1

    Exhibit 10.1

 

    EXECUTION
    COPY

 

    FOURTH
    AMENDMENT

 

    FOURTH AMENDMENT, dated as of June 26, 2008 (this
    “Amendment”), to the Credit Agreement, dated as
    of March 30, 2007 (as previously amended and as further
    amended, supplemented or otherwise modified from time to time,
    the “Credit Agreement”), among Delek US
    Holdings, Inc. (the “Borrower”), the lenders
    from time to time parties thereto (the
    “Lenders”), Lehman Commercial Paper Inc., as
    administrative agent (the “Administrative
    Agent”) and the other parties named therein.

 

    W I T
    N E S S E T
    H:

 

    WHEREAS, the Borrower, the Lenders and the Administrative Agent
    are parties to the Credit Agreement;

 

    WHEREAS, the Borrower has requested that the Lenders amend
    certain provisions in the Credit Agreement in the manner
    provided for herein; and

 

    WHEREAS, the Administrative Agent and the Required Lenders are
    willing to agree to the requested amendments subject to the
    provisions of this Amendment;

 

    NOW, THEREFORE, in consideration of the premises contained
    herein, the parties hereto agree as follows:

 

    1. Defined Terms.  Unless otherwise
    defined herein, terms which are defined in the Credit Agreement
    and used herein as defined terms are so used as so defined.

 

    2. Amendments to Section 1.1
    (Definitions).  (a) The definition of
    “Consolidated EBITDA” in Section 1.1 of the
    Credit Agreement is hereby amended as follows:

 

    (i) by relettering existing subclause (f) in the
    additions to Consolidated EBITDA as new subclause (h);

 

    (ii) by inserting the following new subclauses (f) and
    (g) in the additions to Consolidated EBITDA:

 

    ‘‘(f) any non-cash expenses or losses under
    FAS 133 resulting from the net change in the fair market
    value of Hedge Agreements during such period, (g) losses
    resulting from the termination of ethanol-related Hedge
    Agreements during such period; provided that the
    aggregate amount of all such losses under this
    subclause (g) permitted to be included in Consolidated
    EBITDA shall not exceed $7,000,000 during the term of this
    Agreement”;

 

    (iii) by relettering existing subclauses (c), (d) and
    (e) in the subtractions from Consolidated EBITDA as new
    subclauses (d), (e) and (f), respectively; and

 

    (iv) by inserting the following new subclause (c) in
    the subtractions from Consolidated EBITDA:

 

    “(c) any non-cash gains under FAS 133 resulting from
    the net change in the fair market value of Hedge
    Agreements,”.

 

    (b) Section 1.1 of the Credit Agreement is hereby
    amended by inserting the following new definition of
    “FAS 133” in appropriate alphabetical order:

 

    “FAS 133”: Statement of Financial
    Accounting Standards No. 133.

 

    3. Amendment to Section 6.1 (Financial Condition
    Covenants — Consolidated Leverage
    Ratio).  Section 6.1 of the Credit
    Agreement is hereby amended by adding the following proviso at
    the end of the final sentence thereof:

 

    “; provided that notwithstanding the foregoing
    ratio, for the four consecutive fiscal quarter periods ending on
    June 30, 2008 and September 30, 2008, the Borrower
    shall be in compliance with

 

    this Section 6.1 to the extent that the Consolidated Leverage
    Ratio as of the last day of such periods does not exceed 3.90 to
    1.00 and 3.70 to 1.00, respectively”.

 

    4. Representations and
    Warranties.  On and as of the date hereof and
    after giving effect to this Amendment, the Borrower hereby
    confirms, that the representations and warranties set forth in
    Section 3 of the Credit Agreement are true and correct in
    all material respects (if not qualified as to materiality or
    Material Adverse Effect) or in any respect (if so qualified).

 

    5. Effectiveness of
    Amendment.  This Amendment shall become
    effective as of the date first written above upon of
    satisfaction of the following conditions:

 

    (a) receipt by the Administrative Agent of counterparts of
    this Amendment duly executed by the Borrower and the Required
    Lenders; and

 

    (b) receipt by the Administrative Agent of a consent fee
    for the account of each Lender consenting to this Amendment by
    5:00 P.M. (New York City time) on June 30, 2008, in an
    amount equal to 0.50% of each such Lender’s outstanding
    Term Loans.

 

    6. Continuing Effect; No Other Amendments or
    Consents.  Except as expressly provided
    herein, all of the terms and provisions of the Credit Agreement
    are and shall remain in full force and effect. The amendments
    provided for herein are limited to the specific subsection of
    the Credit Agreement specified herein and shall not constitute a
    consent, waiver or amendment of, or an indication of the
    Administrative Agent’s or the Lenders’ willingness to
    consent to any action requiring consent under any other
    provisions of the Credit Agreement or the same subsection for
    any other date or time period.

 

    7. Expenses.  The Borrower agrees
    to pay and reimburse the Administrative Agent for all its
    reasonable costs and out-of-pocket expenses incurred in
    connection with the preparation and delivery of this Amendment,
    including, without limitation, the reasonable fees and
    disbursements of counsel to the Administrative Agent.

 

    8. Counterparts.  This Amendment
    may be executed in any number of counterparts by the parties
    hereto (including by facsimile transmission), each of which
    counterparts when so executed shall be an original, but all the
    counterparts shall together constitute one and the same
    instrument.

 

    9. GOVERNING LAW.  THIS AMENDMENT
    SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
    ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

    IN WITNESS WHEREOF, the parties hereto have caused this
    Amendment to be duly executed by their respective authorized
    officers as of the day and year first above written.

 

    DELEK US HOLDINGS, INC.

 

			
	 	    by: 
	
    /s/  Edward
    Morgan

    Name:     Edward Morgan

			
	 	    Title: 
	
    Chief Financial Officer

 

			
	 	    by: 
	
    /s/  Joane
    Walker

    Name:     Joane Walker

			
	 	    Title: 
	
    V.P. and Chief Accounting Officer

 

    LEHMAN COMMERCIAL PAPER INC., as

    Administrative Agent and as a Lender

 

			
	 	    by: 
	
    /s/  Ritam
    Bhalla

    Name:     Ritam Bhalla

			
	 	    Title: 
	
    Authorized Signatory

 

    JPMORGAN CHASE BANK, N.A., as a Lender

 

			
	 	    by: 
	
    /s/  Steven
    G. Sutton

    Name:     Steven G. Sutton

			
	 	    Title: 
	
    Division Manager

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