Document:

Exhibit 4.1

 

 

CDK Global, Inc.,
 Issuer,  

 

 and  

 

U.S. Bank Trust Company,
National Association,
 Trustee

 

 

 

FIRST SUPPLEMENTAL INDENTURE

 

 

 

Dated as of May 3, 2022

 

 

 

4.500% Senior Notes due 2024

 

 

     

     

    

 

FIRST SUPPLEMENTAL INDENTURE (this “First
Supplemental Indenture”), dated as of May 3, 2022, between CDK Global, Inc., a Delaware corporation (the “Company”),
and U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National Association), as trustee under the Indenture
referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed
and delivered to the Trustee an indenture dated as of October 14, 2014 (the “Indenture”), between the Company and the
Trustee, pursuant to which the Company’s 4.500% Senior Notes due 2024 (the “Notes”) were issued;

 

WHEREAS, the Company has entered into the Agreement
and Plan of Merger, dated April 7, 2022, by and among the Company, Central Parent LLC and Central Merger Sub Inc. (“Merger
Sub”), as amended from time to time (the “Merger Agreement”);

 

WHEREAS, in connection with the transactions
contemplated in the Merger Agreement, the Company has offered to purchase for cash any and all outstanding Notes (the “Tender Offer”)
pursuant to the Offer to Purchase and Consent Solicitation Statement dated April 20, 2022, as amended or supplemented from time
to time (the “Statement”);

 

WHEREAS, in connection with the Tender Offer,
the Company has requested that Holders of the Notes deliver their consents with respect to the deletion of certain provisions of the
Indenture;

 

WHEREAS, Section 9.02 of the Indenture provides
that, subject to certain exceptions inapplicable hereto, the Company and the Trustee may amend or supplement the Indenture and the Notes
with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including, without
limitation, consents obtained in connection with a tender offer for the Notes);

 

WHEREAS, the Holders of a majority in aggregate
principal amount of the Notes outstanding have duly consented to the proposed modifications set forth in this First Supplemental Indenture
in accordance with Section 9.02 of the Indenture;

 

WHEREAS, the Company has heretofore delivered
or is delivering contemporaneously herewith to the Trustee (i) evidence of the written consent of the Holders set forth in the immediately
preceding paragraph and (ii) the Officer’s Certificate and the Opinion of Counsel described in Section 9.06 of the Indenture;
and

 

WHEREAS, all conditions necessary to authorize
the execution and delivery of this First Supplemental Indenture and to make this First Supplemental Indenture valid and binding have
been complied with or have been done or performed.

 

NOW, THEREFORE, in consideration of the foregoing
and notwithstanding any provision of the Indenture which, absent this First Supplemental Indenture, might operate to limit such action,
the parties hereto, intending to be legally bound hereby, agree as follows:

 

ARTICLE I

 

AMENDMENT OF INDENTURE

 

Section 1.1     Amendments.

 

(a)            Subject
to Section 2.1 hereof, on the Operative Date (as defined herein) the Indenture is hereby amended by deleting in their entireties
Sections 4.03, 4.04, 4.05 and 4.06 and Article 5 of the Indenture. Effective as of the date hereof, none of the Company, the Trustee
or other parties to or beneficiaries of the Indenture shall have any rights, obligations or liabilities under such Sections or Article,
and such Sections or Article shall not be considered in determining whether an Event of Default has occurred or whether the Company
has observed, performed or complied with the provisions of the Indenture.

 

    2 

     

    

 

(b)            Subject
to Section 2.1 hereof, on the Operative Date Section 4.02 of the Indenture is hereby amended and restated to read, in its entirety,
as follows:

 

“Section 4.02. Rule 144A Information.

 

The Company shall comply with the provisions
of TIA § 314(a).

 

(c)            Subject
to Section 2.1 hereof, on the Operative Date Section 6.01 of the Indenture is hereby amended and restated to read, in its entirety,
as follows:

 

“Section 6.01. Events of Default.

 

An “Event of Default” occurs
if:

 

		(1)	the Company defaults in any payment of interest on any Security
                                            when the same becomes due and payable, and such default continues for a period of 30 days;
                                            or

 

		(2)	the Company defaults in the payment of the principal of any Security
                                            when the same becomes due and payable at its Stated Maturity, upon optional redemption, upon
                                            required purchase, upon declaration of acceleration or otherwise.”

 

(d)            Subject
to Section 2.1 hereof, on the Operative Date Section 8.01(a) of the Indenture is hereby amended and restated to read,
in its entirety, as follows:

 

“(a) When (1) the Company delivers to the
Trustee all outstanding Securities (other than Securities replaced pursuant to Section 2.07) for cancellation or (2) all outstanding
Securities have become due and payable, or will become due and payable within one year, whether at maturity or on a redemption date as
a result of the mailing of a notice of redemption pursuant to Article 3 hereof, and, in the case of clause (2), the Company irrevocably
deposits with the Trustee funds sufficient to pay at maturity or upon redemption all outstanding Securities, including interest thereon
to maturity or such redemption date (other than Securities replaced pursuant to Section 2.07), and if in either case the Company
pays all other sums payable hereunder by the Company, then this Indenture shall, subject to Section 8.01(b), cease to be of further
effect; provided that upon any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient
for purposes of this Indenture to the extent that an amount is deposited with the Trustee equal to the Applicable Premium calculated
by the Company as of the date of the notice of redemption, with any deficit as of the date of the redemption only required to be deposited
with the Trustee on or prior to the date of the redemption. The Trustee shall acknowledge satisfaction and discharge of this Indenture
on demand of the Company accompanied by an Officer’s Certificate and an Opinion of Counsel and at the cost and expense of the Company.”

 

(e)            Subject
to Section 2.1 hereof, on the Operative Date Section 8.02(1) of the Indenture is hereby amended and restated to read,
in its entirety, as follows:

 

		“(1)	the
                                            Company irrevocably deposits in trust with the Trustee money or U.S. Government Obligations
                                            for the payment of principal of and interest on the Securities to maturity or redemption,
                                            as the case may be; provided that upon any redemption that requires the payment of the Applicable
                                            Premium, the amount deposited shall be sufficient for purposes of this Indenture to the extent
                                            that an amount is deposited with the Trustee equal to the Applicable Premium calculated by
                                            the Company as of the date of the notice of redemption, with any deficit as of the date of
                                            the redemption only required to be deposited with the Trustee on or prior to the date of
                                            the redemption;”

 

Section 1.2     Amendments
to Definitions and Section References.

 

(a)            Subject
to Section 2.1 hereof, on the Operative Date the Indenture is hereby amended by deleting any definitions from the Indenture with
respect to which references have been eliminated as a result of the amendments to the Indenture pursuant to Section 1.1 hereof.

 

    3 

     

    

 

(b)            Subject
to Section 2.1 hereof, on the Operative Date the Indenture is hereby amended by deleting therefrom any references to sections or
articles of the Indenture which have been deleted as a result of the amendments to the Indenture pursuant to Section 1.1 hereof.

 

ARTICLE II

 

MISCELLANEOUS PROVISIONS

 

Section 2.1     Effect
of First Supplemental Indenture.

 

This First Supplemental Indenture shall become
a binding agreement between the parties hereto and effective when executed by the parties hereto. Notwithstanding the foregoing sentence,
if and when Notes are accepted for purchase by the Company pursuant to the Tender Offer, the amendments to the Indenture set forth herein
shall become operative only at the time and date (the “Operative Date”) at which (i) the merger of Merger Sub with and
into the Company has been consummated in accordance with the Merger Agreement and (ii) the Notes representing the delivery of consents
pursuant to, and subject to the terms and conditions set forth in, the Statement by registered holders of the outstanding Notes of at
least a majority of the outstanding aggregate principal amount of the Notes that are validly tendered (and not validly withdrawn at or
prior to 5:00 p.m., New York City time, on May 3, 2022, unless extended pursuant to, and subject to the terms and conditions set
forth in, the Statement) are accepted for purchase by the Company pursuant to, and subject to the terms and conditions set forth in,
the Statement. Except as amended hereby, all of the terms of the Indenture shall remain and continue in full force and effect and are
hereby confirmed in all respects. From and after the Operative Date, all references to the Indenture (whether in the Indenture or in
any other agreements, documents or instruments) shall be deemed to be references to the Indenture as amended and supplemented by this
First Supplemental Indenture.

 

Section 2.2     Governing
Law.

 

THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN
AND BE USED TO CONSTRUE THIS FIRST SUPPLEMENTAL INDENTURE.

 

Section 2.3     No
Representations by Trustee.

 

The recitals contained herein shall be taken
as the statement of the Company, and the Trustee assumes no responsibility for the correctness or completeness of the same.

 

Section 2.4     Counterparts.

 

This First Supplemental Indenture may be executed
in any number of counterparts, each of which shall be an original; but such counterparts shall constitute but one and the same instrument.

 

[Signature Page Follows]

 

    4 

     

    

 

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

 

	 	CDK
    GLOBAL, INC., as Issuer
	 	 
	 	By:	/s/
    Lee Brunz
	 	 	Name:	Lee Brunz
	 	 	Title:	Executive Vice President, General Counsel and Secretary
	 	 
	 	 

 

	 	U.S.
    BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:	/s/
    Andrea Harris
	 	 	Authorized
    Signatory
	 	 	 

 

[Signature Page to 2024 Notes Supplemental Indenture]Exhibit 4.2

 

 

CDK Global, Inc.,
 Issuer,  

 

 and  

 

U.S. Bank Trust Company,
National Association,
 Trustee

 

 

 

FIRST SUPPLEMENTAL INDENTURE

 

 

 

Dated as of May 3, 2022

 

 

 

4.875% Senior Notes due 2027

 

 

     

     

    

 

FIRST SUPPLEMENTAL INDENTURE (this “First
Supplemental Indenture”), dated as of May 3, 2022, between CDK Global, Inc., a Delaware corporation (the “Company”),
and U.S. Bank Trust Company, National Association (successor in interest to U.S. Bank National Association), as trustee under the Indenture
referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and
delivered to the Trustee an indenture dated as of May 15, 2017 (the “Indenture”), between the Company and the Trustee, pursuant
to which the Company’s 4.875% Senior Notes due 2027 (the “Notes”) were issued;

 

WHEREAS, the Company has entered into the Agreement
and Plan of Merger, dated April 7, 2022, by and among the Company, Central Parent LLC and Central Merger Sub Inc. (“Merger Sub”),
as amended from time to time (the “Merger Agreement”);

 

WHEREAS, in connection with the transactions contemplated
in the Merger Agreement, the Company has offered to purchase for cash any and all outstanding Notes (the “Tender Offer”) pursuant
to the Offer to Purchase and Consent Solicitation Statement dated April 20, 2022, as amended or supplemented from time to time (the “Statement”);

 

WHEREAS, in connection with the Tender Offer,
the Company has requested that Holders of the Notes deliver their consents with respect to the deletion of certain provisions of the Indenture;

 

WHEREAS, Section 9.02 of the Indenture provides
that, subject to certain exceptions inapplicable hereto, the Company and the Trustee may amend or supplement the Indenture and the Notes
with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including, without
limitation, consents obtained in connection with a tender offer for the Notes);

 

WHEREAS, the Holders of a majority in aggregate
principal amount of the Notes outstanding have duly consented to the proposed modifications set forth in this First Supplemental Indenture
in accordance with Section 9.02 of the Indenture;

 

WHEREAS, the Company has heretofore delivered
or is delivering contemporaneously herewith to the Trustee (i) evidence of the written consent of the Holders set forth in the immediately
preceding paragraph and (ii) the Officer’s Certificate and the Opinion of Counsel described in Section 9.06 of the Indenture; and

 

WHEREAS, all conditions necessary to authorize
the execution and delivery of this First Supplemental Indenture and to make this First Supplemental Indenture valid and binding have been
complied with or have been done or performed.

 

NOW, THEREFORE, in consideration of the foregoing
and notwithstanding any provision of the Indenture which, absent this First Supplemental Indenture, might operate to limit such action,
the parties hereto, intending to be legally bound hereby, agree as follows:

 

ARTICLE I

AMENDMENT OF INDENTURE

 

Section 1.1Amendments.

 

(a)       Subject
to Section 2.1 hereof, on the Operative Date (as defined herein) the Indenture is hereby amended by deleting in their entireties Sections
4.03, 4.04, 4.05 and 4.06 and Article 5 of the Indenture. Effective as of the date hereof, none of the Company, the Trustee or other parties
to or beneficiaries of the Indenture shall have any rights, obligations or liabilities under such Sections or Article, and such Sections
or Article shall not be considered in determining whether an Event of Default has occurred or whether the Company has observed, performed
or complied with the provisions of the Indenture.

 

    2 

     

    

 

(b)       Subject
to Section 2.1 hereof, on the Operative Date Section 4.02 of the Indenture is hereby amended and restated to read, in its entirety, as
follows:

 

“Section 4.02. Rule 144A Information.

 

The Company shall comply with the provisions of
TIA § 314(a).

 

(c)       Subject
to Section 2.1 hereof, on the Operative Date Section 6.01 of the Indenture is hereby amended and restated to read, in its entirety, as
follows:

 

“Section 6.01. Events of Default.

 

An “Event of Default” occurs
if:

 

		(1)	the Company defaults in any payment of interest on any Security when the same becomes due and payable, and such default continues
for a period of 30 days; or

 

		(2)	the Company defaults in the payment of the principal of any Security when the same becomes due and payable at its Stated Maturity,
upon optional redemption, upon required purchase, upon declaration of acceleration or otherwise.”

 

(d)       Subject
to Section 2.1 hereof, on the Operative Date Section 8.02(1) of the Indenture is hereby amended and restated to read, in its entirety,
as follows:

 

		“(1)	the Company irrevocably deposits in trust with the Trustee money or U.S. Government Obligations for the payment of principal of and
interest on the Securities to maturity or redemption, as the case may be; provided that upon any redemption that requires the payment
of the Applicable Premium, the amount deposited shall be sufficient for purposes of this Indenture to the extent that an amount is deposited
with the Trustee equal to the Applicable Premium calculated by the Company as of the date of the notice of redemption, with any deficit
as of the date of the redemption only required to be deposited with the Trustee on or prior to the date of the redemption;”

 

Section 1.2Amendments to Definitions and
Section References.

 

(a)       Subject
to Section 2.1 hereof, on the Operative Date the Indenture is hereby amended by deleting any definitions from the Indenture with respect
to which references have been eliminated as a result of the amendments to the Indenture pursuant to Section 1.1 hereof.

 

(b)       Subject
to Section 2.1 hereof, on the Operative Date the Indenture is hereby amended by deleting therefrom any references to sections or articles
of the Indenture which have been deleted as a result of the amendments to the Indenture pursuant to Section 1.1 hereof.

 

ARTICLE II

MISCELLANEOUS PROVISIONS

 

Section 2.1Effect of First Supplemental
Indenture.

 

This
First Supplemental Indenture shall become a binding agreement between the parties hereto and effective when executed by the parties hereto.
Notwithstanding the foregoing sentence, if and when Notes are accepted for purchase by the Company pursuant to the Tender Offer, the amendments
to the Indenture set forth herein shall become operative only at the time and date (the “Operative Date”) at which (i) the
merger of Merger Sub with and into the Company has been consummated in accordance with the Merger Agreement and (ii) the Notes representing
the delivery of consents pursuant to, and subject to the terms and conditions set forth in, the Statement by registered holders of the
outstanding Notes of at least a majority of the outstanding aggregate principal amount of the Notes that are validly tendered (and not
validly withdrawn at or prior to 5:00 p.m., New York City time, on May 3, 2022, unless extended pursuant to, and subject to the
terms and conditions set forth in, the Statement) are accepted for purchase by the Company pursuant to, and subject to the terms and conditions
set forth in, the Statement. Except as amended hereby, all of the terms of the Indenture shall remain and continue in full force and effect
and are hereby confirmed in all respects. From and after the Operative Date, all references to the Indenture (whether in the Indenture
or in any other agreements, documents or instruments) shall be deemed to be references to the Indenture as amended and supplemented by
this First Supplemental Indenture.

 

    3 

     

    

 

Section 2.2Governing Law.

 

THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN
AND BE USED TO CONSTRUE THIS FIRST SUPPLEMENTAL INDENTURE.

 

Section 2.3No Representations by Trustee.

 

The recitals contained herein shall be taken as
the statement of the Company, and the Trustee assumes no responsibility for the correctness or completeness of the same.

 

Section 2.4Counterparts.

 

This First Supplemental Indenture may be executed
in any number of counterparts, each of which shall be an original; but such counterparts shall constitute but one and the same instrument.

 

[Signature Page Follows]

 

    4 

     

    

 

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

 

	 	CDK GLOBAL, INC., as Issuer
	 	 
	 	By:	/s/ Lee Brunz
	 	 	Name:	Lee Brunz
	 	 	Title:	Executive Vice President, General Counsel and Secretary

 

	 	U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee
	 	 
	 	By:	/s/ Andrea Harris
	 	 	Authorized Signatory

 

[Signature Page to 2027 Notes Supplemental Indenture]

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