Document:

ex_270044.htm

Exhibit 4.3

 

FIRST SUPPLEMENTAL INDENTURE

 

First Supplemental Indenture (this “Supplemental Indenture”), dated as of June 30, 2021, among Cable One, Inc., a Delaware corporation (the “Issuer”), each of Lighthouse Sub LLC, a Delaware limited liability company, Hargray Acquisition Holdings LLC, a Delaware limited liability company, Hargray Intermediate Holdings, LLC, a Delaware limited liability company, Hargray Investment I Corp., a Delaware corporation, HCP Acquisition LLC, a Delaware limited liability company, Hargray Communications Group, Inc., a South Carolina corporation, Hargray Colocation Services LLC, a Georgia limited liability company, Low Country Carriers, Inc., a South Carolina corporation, Low Country Telephone Company, Inc., a South Carolina corporation, Hargray Telephone Company, Inc., a South Carolina corporation, Bluffton Telephone Company, Inc., a South Carolina corporation, Hargray CATV Company, Inc., a South Carolina corporation, Hargray, Inc., a South Carolina corporation, ComSouth Corporation, a Georgia corporation, ComSouth Telecommunications Inc., a Georgia corporation, ComSouth Telesys, Inc., a Georgia corporation, ComSouth Teleservices, Inc., a Georgia corporation, ComSouth Teledata, Inc., a Georgia corporation, ComSouth Telenet, Inc., a Georgia corporation, Hargray of Georgia, Inc., a South Carolina corporation, Hargray Data Center Services LLC, a Georgia limited liability company, Hargray of Florida, Inc., a Georgia corporation, and Hargray of Alabama, Inc., a Georgia corporation (each, a “Guaranteeing Subsidiary”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer and the Guarantors (as defined in the Indenture referred to below) have heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of March 5, 2021, providing for the issuance of an unlimited aggregate principal amount of 1.125% Convertible Senior Notes due 2028 (the “Notes”);

 

WHEREAS, Section 4.05 of the Indenture provides that under certain circumstances Subsidiaries of the Issuer shall execute and deliver to the Trustee a supplemental indenture pursuant to which each such Subsidiary shall unconditionally guarantee all of the Issuer’s obligations under the Notes and the Indenture (the “Guarantee”); and

 

WHEREAS, pursuant to Section 10.01 of the Indenture, the Trustee is authorized and is hereby requested to execute and deliver this Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the parties mutually covenant and agree as follows:

 

(1)         Capitalized Terms. Capitalized terms used herein but not defined herein shall have the meanings assigned to them in the Indenture.

 

(2)         Guarantee. Each Guaranteeing Subsidiary by executing this Supplemental Indenture hereby becomes a Guarantor under the Indenture for all purposes thereof and as such will have all of the rights and be subject to all of the obligations and agreements of a “Guarantor” under the Indenture, including but not limited to the obligations and agreements in Article XIII thereof.

 

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(3)         Governing Law. THIS SUPPLEMENTAL INDENTURE, AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS SUPPLEMENTAL INDENTURE, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

(4)         Counterparts. This Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile, electronic or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Supplemental Indenture shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by Electronic Means.

 

(5)         Effect of Headings. The Section headings herein are for convenience of reference only, and are not to be considered part of this Supplemental Indenture and shall in no way modify or restrict any of the terms or provisions.

 

(6)         The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity, adequacy or sufficiency of this Supplemental Indenture or for or in respect of the recitals and statements contained herein, all of which recitals and statements are made solely by the Issuer and the Guaranteeing Subsidiaries and not by the Trustee, and the Trustee assumes no responsibility for their correctness.

 

(7)         Benefits Acknowledged. Each Guaranteeing Subsidiary’s Guarantee is subject to the terms and conditions set forth in the Indenture. Each Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the guarantee and waivers made by it pursuant to this Guarantee are knowingly made in contemplation of such benefits.

 

(8)         Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed, and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and the Trustee and each Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby and entitled to the benefits hereof.

 

[Signature pages follow]

 

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

 

LIGHTHOUSE SUB LLC

 

HARGRAY ACQUISITION HOLDINGS LLC

 

HARGRAY INTERMEDIATE HOLDINGS, LLC

 

HARGRAY INVESTMENT I CORP.

 

HCP ACQUISITION LLC

 

HARGRAY COMMUNICATIONS GROUP, INC.

 

HARGRAY COLOCATION SERVICES LLC

 

LOW COUNTRY CARRIERS, INC.

 

LOW COUNTRY TELEPHONE COMPANY, INC.

 

HARGRAY TELEPHONE COMPANY, INC.

 

BLUFFTON TELEPHONE COMPANY, INC.

 

HARGRAY CATV COMPANY, INC.

 

HARGRAY, INC.

 

COMSOUTH CORPORATION

 

COMSOUTH TELECOMMUNICATIONS INC.

 

COMSOUTH TELESYS, INC.

 

COMSOUTH TELESERVICES, INC.

 

COMSOUTH TELEDATA, INC.

 

COMSOUTH TELENET, INC.

 

HARGRAY OF GEORGIA, INC.

 

HARGRAY DATA CENTER SERVICES LLC

 

HARGRAY OF FLORIDA, INC.

 

HARGRAY OF ALABAMA, INC.

 

 

By:   /s/ Steven S. Cochran. 

         Name:    Steven S. Cochran         

         Title:      Vice President

 

[Signature page to Convertible 2028 Notes First Supplemental Indenture]

 

 

CABLE ONE, INC.

 

By    /s/ Steven S. Cochran

         Name:    Steven S. Cochran

         Title:      Chief Financial Officer

 

[Signature page to Convertible 2028 Notes First Supplemental Indenture]

 

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

 

By    /s/ Kenneth Helbig

     Name:    Kenneth Helbig

     Title:      Vice President

 

 

[Signature page to Convertible 2028 Notes First Supplemental Indenture]Document

FOURTH AMENDMENT
TO
SECOND AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP
OF
GLADSTONE COMMERCIAL LIMITED PARTNERSHIP
This FOURTH AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Amendment”) is entered into and effective as of this 5th day of August, 2021. Capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the Second Amended and Restated Agreement of Limited Partnership of the Partnership, dated as of July 11, 2018, as amended by Exhibit SEP designating the Series 6.625% Series E Cumulative Redeemable Preferred Stock, as further amended by the First Amendment to the Second Amended and Restated Agreement of Limited Partnership, dated as of December 2, 2019, as further amended by the Second Amendment to the Second Amended and Restated Agreement of Limited Partnership, dated as of February 20, 2020, and as further amended by the Third Amendment to the Second Amended and Restated Agreement of Limited Partnership, dated as of June 23, 2021 (collectively, the “Partnership Agreement”).
RECITALS
WHEREAS, Gladstone Commercial Limited Partnership (the “Partnership”), was formed as a limited partnership under the laws of the State of Delaware, pursuant to a Certificate of Limited Partnership filed with the Office of the Secretary of State of the State of Delaware effective as of May 28, 2003; and
WHEREAS, GCLP Business Trust II, a Massachusetts business trust (the “General Partner”), is the sole general partner of the Partnership;
WHEREAS, Gladstone Commercial Corporation, a Maryland corporation (the “Parent”), is the sole member of the General Partner; and
WHEREAS, pursuant to Section 15.15 of the Partnership Agreement, the General Partner desires to amend the Partnership Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, of mutual covenants between the parties hereto, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereto agree to amend the Partnership Agreement as follows:
1.Definitions. Unless otherwise defined herein, all terms defined in the Partnership Agreement have the same meaning when used herein.
2.Amendments to Partnership Agreement.
(a)Article I of the Partnership Agreement is hereby amended as follows:

(i)The definition of “Preferred Parity Units” is hereby deleted in its entirety and replaced with the following:
“‘Preferred Parity Units’ means all classes or series of Preferred Units issued by the Partnership, the terms of which specifically provide that such Preferred Units rank on a parity with such Preferred Parity Units with respect to distribution rights and rights upon liquidation, dissolution or winding up of the Partnership, including the Series E Preferred Units, Series F Preferred Units, Series G Preferred Units and any other Preferred Units to be issued in the future and designated to rank on a parity with such Preferred Parity Units with respect to distribution rights and rights upon liquidation.”
(ii)The definition of “Series D Preferred Units” is hereby deleted in its entirety.
(iii)The following definition of “Series G Preferred Units” is hereby inserted in its proper alphabetical position:
“‘Series G Preferred Units’ means ‘6.00% Series G Cumulative Redeemable Preferred Unit’ of the Partnership, as designated in Exhibit SGP.”
(b)Article IV, Section 4.02 of the Partnership Agreement is hereby deleted in its entirety and replaced with the following:
“Classes and Series of Partnership Units. Until such time as additional classes or series of Partnership Units are created pursuant to Section 4.03(a) below, the Partnership shall have the following six (6) classes of Partnership Units: “OP Units”, “LTIP Units”, “Senior Common Units”, “Series E Preferred Units”, “Series F Preferred Units” and “Series G Preferred Units”. Subject to Section 4.06, OP Units, LTIP Units, Senior Common Units, Series E Preferred Units, Series F Preferred Units, Series G Preferred Units or other Partnership Units of any additional class or series, at the election of the General Partner, may be issued to newly admitted Partners in exchange for any Capital Contributions by such Partners and/or the provision of services by such Partners; provided, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.”
(c)Article XIII, Section 13.02(a)(iv) of the Partnership Agreement is hereby deleted in its entirety and replaced with the following:
“Fourth, to the holders of Series E Preferred Units, Series F Preferred Units and Series G Preferred Units in accordance with the terms of Exhibit SEP, Exhibit SFP and Exhibit SGP; and”
(d)Exhibit SDP is hereby deleted in its entirety.
(e)Exhibit SEP of the Partnership Agreement is hereby amended as follows:
(i)The definition of “Series D Preferred Units” in Section 2 is hereby deleted in its entirety.
(ii)Section 11 is hereby deleted in its entirety and replaced with the following:
“Ranking. In respect of rights to the payment of dividends and the distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the 

affairs of the Partnership, the Series E Preferred Units shall rank (i) senior to the Common Units, the Senior Common Units and any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks junior to the Series E Preferred Units as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the affairs of the Partnership, (ii) on a parity with the Series F Preferred Units, the Series G Preferred Units, and any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks on parity with the Series E Preferred Units as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the affairs of the Partnership, and (iii) junior to any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks senior to the Series E Preferred Units as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the affairs of the Partnership, and to all existing and future debt obligations of the Partnership.”
(f)Exhibit SFP of the Partnership Agreement is hereby amended as follows:
(i)Section 2 is hereby deleted in its entirety and replaced with the following:
“Rank. Series F Preferred Units will, with respect to distribution rights and rights upon liquidation of the Partnership, rank (a) senior to the OP Units, and to all other classes and series of Units ranking junior to Series F Preferred Units with respect to distribution rights or rights upon liquidation of the Partnership; (b) on a parity with the Series E Preferred Units and Series G Preferred Units, and any other Preferred Parity Units with respect to distribution rights and rights upon liquidation of the Partnership; (c) junior to all classes and series of Units issued by the Partnership, the terms of which specifically provide that such Units rank senior to Series F Preferred Units with respect to distribution rights and rights upon liquidation of the Partnership; and (d) junior to all existing and future indebtedness of the Partnership.”
(g)Exhibit SGP of the Partnership Agreement is hereby amended as follows:
(i)The definition of “Series D Preferred Units” in Section 2 is hereby deleted in its entirety.
(ii)Section 11 is hereby deleted in its entirety and replaced with the following:
“Ranking.  In respect of rights to the payment of dividends and the distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership, the Series G Preferred Units shall rank (i) senior to the Common Units, the Senior Common Units and any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks junior to the Series G Preferred Units as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the affairs of the Partnership, (ii) on a parity with the Series E Preferred Units, the Series F Preferred Units and any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks on parity with the Series G Preferred Units as to the payment of dividends or the distribution of assets upon 

liquidation, dissolution or winding up of the affairs of the Partnership, and (iii) junior to any other class or series of Partnership Interest of the Partnership, the terms of which expressly provide that such Partnership Interest ranks senior to the Series G Preferred Units as to the payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the affairs of the Partnership, and to all existing and future debt obligations of the Partnership.”
3.Except as set forth herein, all of the terms and conditions of the Partnership Agreement shall continue in full force and effect following the execution of this Amendment.
4.This Amendment may be executed in any number of original or facsimile counterparts and, when so executed, all of such counterparts shall constitute a single instrument binding upon all parties hereto notwithstanding that all parties are not signatory to the original or facsimile or to the same counterpart.
5.This Amendment shall be effective upon the execution hereof by the General Partner.
6. In the event any provision of this Amendment is determined to be invalid or unenforceable, such provision shall be deemed severed from the remainder of this Amendment and replaced with a valid and enforceable provision as similar in intent as reasonably possible to the provision so severed, and shall not cause the invalidity or unenforceability of the remainder of this Amendment.
[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the parties hereto have hereunder affixed their signatures to this Fourth Amendment to Second Amended and Restated Agreement of Limited Partnership of Gladstone Commercial Limited Partnership as of the 5th day of August, 2021.

			
	GENERAL PARTNER:
	GCLP Business Trust II
	By: /s/ David Gladstone

	Name: David Gladstone
	Title: Trustee
	By: /s/ Robert Cutlip

	Name: Robert Cutlip
	Title: Trustee
	By: /s/ Jay Beckhorn

	Name: Jay Beckhorn
	Title: Trustee
	By: /s/ Gary Gerson

	Name: Gary Gerson
	Title: Trustee
	SOLE LIMITED PARTNER:
	GCLP Business Trust I
	By: /s/ David Gladstone

	Name: David Gladstone
	Title: Trustee
	By: /s/ Robert Cutlip

	Name: Robert Cutlip
	Title: Trustee
	By: /s/ Jay Beckhorn

	Name: Jay Beckhorn
	Title: Trustee
	By: /s/ Gary Gerson

	Name: Gary Gerson
	Title: Trustee
	PARENT:
	Gladstone Commercial Corporation
	By: /s/ David Gladstone

	Name: David Gladstone
	Title: Chief Executive Officer

Signature Page to Fourth Amendment to Second Amended and Restated Agreement of Limited Partnership of Gladstone Commercial Limited Partnership

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