Document:

Document

Exhibit 4.1

January 18, 2021

Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549

RE:  Carnival Corporation, Commission File No. 001-9610, and 
        Carnival plc, Commission File No. 001-15136

Ladies and Gentlemen:

Pursuant to Item 601(b) (4) (iii) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended, Carnival Corporation and Carnival plc (the “Companies”) hereby agree to furnish copies of certain long-term debt instruments to the Securities and Exchange Commission upon the request of the Commission and, in accordance with such regulation, such instruments are not being filed as part of the joint Annual Report on Form 10-K of the Companies for their year ended November 30, 2020. 

Very truly yours,

CARNIVAL CORPORATION AND CARNIVAL PLC

/s/ Arnaldo Perez    
General Counsel and SecretaryDocument

EXECUTION VERSION

AMENDMENT NO. 1 TO TERM LOAN AGREEMENT 
This AMENDMENT NO. 1 TO TERM LOAN AGREEMENT (this “Amendment”), dated as of December 3, 2020, is by and among CARNIVAL CORPORATION, a Panamanian corporation (the “Lead Borrower”), CARNIVAL FINANCE, LLC, a Delaware limited liability company (the “Co-Borrower”), JPMORGAN CHASE BANK, N.A., as the Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”), and the Lenders party hereto. Unless otherwise indicated, all capitalized terms used herein and not otherwise defined shall have the respective meanings provided such terms in the Loan Agreement referred to below (as amended by this Amendment).
W I T N E S S E T H:
WHEREAS, the Lead Borrower, the Co-Borrower, Carnival plc, a company incorporated under the laws of England and Wales (“Carnival plc”), the other Guarantors, the Administrative Agent, U.S. Bank National Association, as Security Agent, and the Lenders from time to time party thereto have entered into the Term Loan Agreement, dated as of June 30, 2020 (as amended, restated, supplemented or otherwise modified from time to time through the Effective Time referred to below, the “Loan Agreement”);
WHEREAS, in accordance with the provisions of Section 11.1 of the Loan Agreement, the provisions of the Loan Agreement may be amended as contemplated by this Amendment if this Amendment is executed by the Lead Borrower and the Required Lenders; and
WHEREAS, the undersigned Lenders constitute Required Lenders;
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, it is agreed as follows: 
SECTION 1. Amendments to Loan Agreement.  Effective as of the Effective Time, Section 6.2.1(b)(v) of the Loan Agreement is hereby amended and restated in its entirety as follows:
“(v) the incurrence by the Company or any Restricted Subsidiary of Indebtedness, the issuance by the Company or any Restricted Subsidiary of Disqualified Stock and the issuance by any Restricted Subsidiary of preferred stock in connection with any New Vessel Financing in an aggregate principal amount at any one time outstanding (including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred or Disqualified Stock or preferred stock issued under this clause (v)) not exceeding the New Vessel 

Aggregate Secured Debt Cap as calculated on the date of the relevant incurrence under this clause (v);”
SECTION 2. Fees and Expenses.
(a)    The Lead Borrower will pay (or cause to be paid) to the Administrative Agent, for the benefit of each Lender consenting to this Amendment (collectively, “Consenting Lenders”), a fee in an amount equal to 0.025% of the aggregate principal amount of Advances held by such Lender at the Effective Time (collectively, the “Amendment Fee”). The entire amount of the Amendment Fee will be fully earned and will be due and payable in full in cash on the date hereof, and subject to the occurrence of the Effective Time.
(b)    The Lead Borrower shall reimburse the Administrative Agent for its reasonable out of pocket expenses in connection with the negotiation, preparation and execution of this Amendment and the transactions contemplated hereby in accordance with Section 11.3 of the Loan Agreement.
SECTION 3. Effectiveness.  This Amendment shall become effective upon (a) receipt by the Administrative Agent of duly executed counterpart signature pages to this Amendment by the Borrowers, the Administrative Agent and Lenders constituting Required Lenders and (b) receipt by the Administrative Agent, for the benefit of the Consenting Lenders, of the Amendment Fee (the “Effective Time”). 
SECTION 4.  Loan Documents.  This Amendment shall constitute a “Loan Document” for all purposes of the Loan Agreement and the other Loan Documents.
SECTION 5.  Reference to and Effect on the Loan Agreement and the Loan Documents. 
(a)    From and after the Effective Time, each reference in the Loan Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Loan Agreement shall mean and be a reference to the Loan Agreement, as amended by this Amendment.  The Loan Agreement, as amended by this Amendment, and each of the other Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed.
(b)    The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.  
SECTION 6. Governing Law. This Amendment shall be deemed to be a contract made under, and shall be governed by, the laws of the State of New York. 
SECTION 7. Counterparts.  This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.  Delivery of an executed counterpart of a signature page to this Amendment by facsimile or electronic (i.e. “pdf” or “tif”) transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

SECTION 9. Electronic Execution.  Section 11.8(b) of the Loan agreement shall apply to the execution of this Amendment mutatis mutandis.
[The remainder of this page is intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Amendment as of the date first above written.
CARNIVAL CORPORATION,
 as the Lead Borrower

By:    /s/ Darrell Campbell    
Name:    Darrell Campbell
Title:    Treasurer
CARNIVAL FINANCE, LLC,
as the Co-Borrower

By: Carnival Corporation,
its Sole Member
By:    /s/ Darrell Campbell    
Name:    Darrell Campbell
Title:    Treasurer

JPMORGAN CHASE BANK, N.A.,
 as Administrative Agent and a Lender
By:    /s/ Lance Buxkemper    
Name:     Lance Buxkemper
Title:     Executive Director
    

[Amendment No. 1 to Term Loan Agreement]Document

			
	

CARNIVAL CORPORATION,
as Issuer
CARNIVAL PLC
AND THE OTHER GUARANTORS 
NAMED ON THE SIGNATURE PAGES HERETO,
as Guarantors

AND

U.S. BANK NATIONAL ASSOCIATION,
as Trustee and Security Agent

FIRST SUPPLEMENTAL INDENTURE
Dated as of November 18, 2020

TO THE INDENTURE
Dated as of April 8, 2020
11.500% First-Priority Senior Secured Notes due 2023

			
	

THIS FIRST SUPPLEMENTAL INDENTURE is dated as of November 18, 2020, among Carnival Corporation, a corporation duly organized and existing under the laws of the Republic of Panama, as issuer (the “Issuer”), Carnival plc, a company incorporated and registered under the laws of England and Wales (“Carnival plc” and, together with the Issuer, the “Company”), the other Guarantors listed on the signature pages hereto and U.S. Bank National Association, a national banking association organized under the laws of the United States of America, as trustee and security agent (the “Trustee”).
RECITALS
First Supplemental Indenture
Doc#: US1:14182794v6

WHEREAS, the Company, the Subsidiary Guarantors and the Trustee executed and delivered an Indenture, dated as of April 8, 2020 (as amended, restated, supplemented, or otherwise modified from time to time, the “Indenture”), to provide for the issuance by the Company of its 11.500% First-Priority Senior Secured Notes due 2023 (the “Notes”);
WHEREAS, pursuant to Section 9.01(a) of the Indenture, the Company, the Subsidiary Guarantors and the Trustee are authorized to amend the Indenture without the consent of any Holders, among other things, (i) to cure any ambiguity, omission, error, defect or inconsistency or (ii) to conform the text of the Indenture, the Notes or the Note Guarantees to any provision of the section entitled “Description of Notes” in the Offering Memorandum (the “Description of Notes”) to the extent that such provision in the Description of Notes was intended to be a verbatim recitation of a provision of the Indenture, the Notes or the Note Guarantees;
WHEREAS, prior to the effectiveness hereof, Section 4.06(b)(5) of the Indenture (as in effect prior to the effectiveness hereof) contains an error that is not consistent with certain other provisions in the Indenture and the disclosures of the Company in the Offering Memorandum, and the parties wish to correct this error by amending such section as set forth herein;
WHEREAS, Section 10.03(2) of the Indenture (as in effect prior to the effectiveness hereof) does not conform to the text of the Description of Notes, and the parties wish to correct this inconsistency by amending such section as set forth herein;
WHEREAS, the entry into this First Supplemental Indenture by the parties hereto is in all respects authorized by the provisions of the Indenture.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders as follows:
ARTICLE I
DEFINITIONS
SECTION 1.1 Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

ARTICLE II

AMENDMENTS TO THE INDENTURE
First Supplemental Indenture
Doc#: US1:14182794v6

Section 2.1    Section 4.06(b)(5) of the Indenture is hereby amended and restated in its entirety as follows: 
“the incurrence by the Company or any Restricted Subsidiary of Indebtedness, the issuance by the Company or any Restricted Subsidiary of Disqualified Stock and the issuance by any Restricted Subsidiary of preferred stock in connection with any New Vessel Financing in an aggregate principal amount at any one time outstanding (including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred or Disqualified Stock or preferred stock issued under this clause (5)) not exceeding the New Vessel Aggregate Secured Debt Cap as calculated on the date of the relevant incurrence under this clause (5);”
Section 2.2    Section 10.03(2) of the Indenture is hereby amended and restated as follows:
“(2) in connection with any sale or other disposition of Capital Stock of that Subsidiary Guarantor to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition does not violate Section 4.09 and the Subsidiary Guarantor either (i) ceases to be a Restricted Subsidiary as a result of such sale or other disposition or (ii) would not be required to provide a Note Guarantee under Section 4.15”
ARTICLE III

MISCELLANEOUS

Section 3.1    Governing Law.  THIS FIRST SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
Section 3.2    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 3.3    Ratification.  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 First Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder heretofore or hereafter shall be bound hereby.  The 
First Supplemental Indenture
Doc#: US1:14182794v6

Trustee makes no representation or warranty as to the validity or sufficiency of this First Supplemental Indenture.
Section 3.4    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.  One signed copy is enough to prove this First Supplemental Indenture.  The exchange of copies of this First Supplemental Indenture and of signature pages by facsimile or other electronic transmission shall constitute effective execution and delivery of this First Supplemental Indenture as to the parties hereto.  Signatures of the parties hereto transmitted by facsimile or other electronic transmission shall be deemed to be their original signatures for all purposes.
Section 3.5    Effect of Headings.  The headings herein are convenience of reference only and shall not affect the construction hereof.
Section 3.6    The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this First Supplemental Indenture or for or in respect of the recitals contained herein.
Section 3.7    Successors. All agreements of the Company and the Subsidiary Guarantors in this First Supplemental Indenture shall bind each of their successors, except as otherwise provided in this First Supplemental Indenture.  All agreements of the Trustee in this First Supplemental Indenture shall bind its successors.
[Signature Page Follows]
First Supplemental Indenture
Doc#: US1:14182794v6

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

By:    /s/ Darrell Campbell    
Name: Darrell Campbell
Title: Treasurer

CARNIVAL PLC
as Guarantor

By: /s/ Darrell Campbell    
Name: Darrell Campbell
Title: Treasurer

GXI, LLC
as Guarantor

By: /s/ Arnaldo Perez    
Name: Arnaldo Perez
Title: General Counsel & Secretary of
Carnival Corporation, its sole Member

HAL ANTILLEN N.V.
as Guarantor

By: SSC Shipping and Air Services (Curacao) N.V.

/s/ Iseline R. Gouverneur    
Name: Iseline R. Gouverneur
Title: Managing Director

/s/ Rhona M.P. Mendez    
Name: Rhona M.P. Mendez
Title: Attorney-in-Fact

HOLLAND AMERICA LINE N.V.
as Guarantor

By: SSC Shipping and Air Services (Curacao) N.V.

/s/ Iseline R. Gouverneur    
First Supplemental Indenture
Doc#: US1:14182794v6

Name: Iseline R. Gouverneur
Title: Managing Director

/s/ Rhona M.P. Mendez    
Name: Rhona M.P. Mendez
Title: Attorney-in-Fact

CRUISEPORT CURACAO C.V.
as Guarantor

By: SSC Shipping and Air Services (Curacao) N.V.

By: /s/ Iseline R. Gouverneur    
Name: Iseline R. Gouverneur
Title: Managing Director

By: /s/ Rhona M.P. Mendez    
Name: Rhona M.P. Mendez
Title: Attorney-in-Fact

PRINCESS CRUISE LINES, LTD.
as Guarantor

By: /s/ Janet Swartz    
Name: Janet Swartz
Title: President

SEABOURN CRUISE LINE LIMITED
as Guarantor

By: SSC Shipping and Air Services (Curacao) N.V.

By: /s/ Iseline R. Gouverneur    
Name: Iseline R. Gouverneur
Title: Managing Director

By: /s/ Rhona M.P. Mendez    
Name: Rhona M.P. Mendez
Title: Attorney-in-Fact

COSTA CROCIERE S.P.A.
as Guarantor

By: /s/ David Bernstein    
[Signature Page to First Supplemental Indenture]

Name: David Bernstein
Title: Director

						
	U.S. BANK NATIONAL ASSOCIATION, as Trustee and Security Agent
	By:	/s/ Benjamin J. Krueger
	Name:    Benjamin J. Krueger
	Title:    Vice President

[Signature Page to First Supplemental Indenture]

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