Document:

Document

Execution Version

Exhibit 4.2
KENNEDY-WILSON HOLDINGS, INC.,
as Parent

KENNEDY-WILSON, INC.,

as Issuer

THE NEW SUBSIDIARY GUARANTORS PARTY HERETO

and

WILMINGTON TRUST, NATIONAL ASSOCIATION

as Trustee
                    
SUPPLEMENTAL INDENTURE NO. 2031-2
Dated as of August 4, 2021

to

INDENTURE

Dated as of March 25, 2014 
                    

5.000% Senior Notes due 2031

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    SUPPLEMENTAL INDENTURE NO. 2031-2 (the “Supplemental Indenture”), dated as of August 4, 2021, among Kennedy-Wilson, Inc., as issuer (the “Issuer”), KW SB Manager, LLC, a Delaware limited liability company, KW THE CADENCE, LLC, a Delaware limited liability company, KW WATERLINE APARTMENTS, LLC, a Delaware limited liability company, KW 360 Spear, LLC, a Delaware limited liability company, KW Advanta Office Commons, LLC, a Delaware limited liability company, KW South Bay Galleria, LLC, a Delaware limited liability company, KW Pine 43, LLC, a Delaware limited liability company, KW Eisley Sponsor, LLC, a Delaware limited liability company, KW LPC Investor, LLC, a Delaware limited liability company, KW OXFORD NORTH, LLC, a Delaware limited liability company, KW ALILA NAPA VALLEY, LLC, a Delaware limited liability company (each, a “New Guarantor” and, collectively, the “New Guarantors”), Kennedy-Wilson Holdings, Inc., a Delaware corporation, as the Parent Guarantor (the “Parent Guarantor”), and Wilmington Trust, National Association, as trustee (the “Trustee”).
WITNESSETH THAT:
    WHEREAS, the Issuer and the Trustee have executed and delivered a base indenture, dated as of March 25, 2014 (as amended, supplemented or otherwise modified from time to time, and, together with the Supplemental Indenture No. 2031-1 (as defined below), the “Indenture”) to provide for the future issuance of the Issuer’s debt securities to be issued from time to time in one or more series;
    WHEREAS, the Issuer, the Guarantors party thereto and the Trustee entered into that certain Supplemental Indenture No. 2031-1, dated as of February 11, 2021 (the “Supplemental Indenture No. 2031-1”), relating to the Issuer’s 5.000% Senior Notes due 2031 (the “Notes”);
    WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the Notes by the Holders, the Issuer agreed pursuant to the Indenture to cause certain of its domestic Restricted Subsidiaries to provide Guaranties after the Issue Date (as defined in the Indenture);
    WHEREAS, the Issuer desires, and this Supplemental Indenture is being executed and delivered pursuant to Sections 4.09 and 9.01(iv) of the Supplemental Indenture No. 2031-1, to cause the New Guarantors to provide a Guaranty and become Subsidiary Guarantors;
    WHEREAS, the Issuer, the New Guarantors, the Parent Guarantor and the Guarantors have duly authorized the execution and delivery of this Supplemental Indenture, subject to the terms and conditions described herein;
    WHEREAS, the Issuer, the New Guarantors, the Parent Guarantor and the Guarantors have requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make this Supplemental Indenture a valid instrument in accordance with its terms and to give effect to the terms and conditions set forth herein and the execution and delivery of this Supplemental Indenture have been duly authorized in all respects; and
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    WHEREAS, pursuant to Sections 9.01 and 10.09 of the Supplemental Indenture No. 2031-1, the Trustee is authorized to execute and deliver this Supplemental Indenture.
NOW, THEREFORE:
Each party hereto agrees as follows for the benefit of the other party and for the equal and ratable benefit of the Holders (as defined herein) of the Notes.
Section 1.    Capitalized terms used herein without definition shall have the respective definitions ascribed to them in the Indenture.
Section 2.    Each New Guarantor, by its execution of this Supplemental Indenture, agrees to be a Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to Guarantors, including, but not limited to, Article X of the Supplemental Indenture No. 2031-1.
Section 3.    Notwithstanding anything herein to the contrary, this Supplemental Indenture shall be subject, without limitation, to the last paragraph of Section 10.09 of the Supplemental Indenture No. 2031-1 with the same force and effect as if such paragraph were reproduced herein.
Section 4.    THIS SUPPLEMENTAL INDENTURE AND THE GUARANTEES OF THE NEW GUARANTORS, INCLUDING ANY CLAIM OR CONTROVERSY ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE OR SUCH GUARANTEES, SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICTS OF LAWS PROVISIONS THEREOF OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW).
Section 5.    This Supplemental Indenture may be signed in various counterparts which together will constitute one and the same instrument.
Section 6.    No past, present or future director, officer, employee, incorporator, member or stockholder or control person of the Issuer, the Parent or any Subsidiary Guarantor, as such, will have any liability for any obligations of the Issuer, the Parent or any Subsidiary Guarantor under the Notes, any Guaranty, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation.  Each Holder of the Notes by accepting a Note or any Guaranty waives and releases all such liability.  The waiver and release are part of the consideration for issuance of the Notes or any Guaranty.
Section 7.    This Supplemental Indenture is an amendment supplemental to the Indenture, and the Indenture and all subsequent supplements thereto, including this Supplemental Indenture, shall be read together.
Section 8.    The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect or the recitals 
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contained herein, all of which recitals are made solely by the Issuer, the Parent Guarantor and the New Guarantors party hereto.
[Remainder of this Page Intentionally Left Blank; Signature Pages Follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.

    Kennedy-Wilson, Inc.

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Secretary

    Kennedy-Wilson Holdings, Inc.

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Secretary

KW SB Manager, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

                        KW THE CADENCE. LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

    
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KW WATERLINE APARTMENTS, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

KW 360 Spear, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

KW Advanta Office Commons, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary

KW South Bay Galleria, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary

    
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KW Pine 43, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary

KW Eisley Sponsor, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

KW LPC Investor, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

KW OXFORD NORTH, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary 

KW ALILA NAPA VALLEY, LLC

By:    /s/ In Ku Lee        
Name:    In Ku Lee 
Title:    Vice President and Secretary

    
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Wilmington Trust, National Association, as Trustee

By:    /s/ Jane Schweiger        
Name:    Jane Schweiger
    Title: Vice President

    
|US-DOCS\125684239.2||Document

Execution Copy

Exhibit 10.1
JOINDER AGREEMENT
JOINDER AGREEMENT, dated as of August 4, 2021 (this “Joinder Agreement”), made by the Subsidiaries signatory hereto (each, a “New Guarantor”) in favor of Bank of America, N.A., as administrative agent (in such capacity, together with its successors and assigns, the “Administrative Agent”) for the Lenders referred to in that certain Second Amended and Restated Credit Agreement, dated as of March 25, 2020 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement;” the terms defined therein being used herein as therein defined), among Kennedy-Wilson, Inc., a Delaware corporation (the “Parent Borrower”), the Designated Borrowers from time to time party thereto, Kennedy-Wilson Holdings, Inc. and its subsidiaries from time to time party thereto as guarantors, the Lenders from time to time party thereto, Bank of America, N.A., as Administrative Agent, and Bank of America, N.A. and JPMorgan Chase Bank, N.A. as L/C Issuers.   
1.Each New Guarantor, hereby acknowledges that it has received and reviewed a copy of the Credit Agreement, and acknowledges and agrees to:
(a)join the Credit Agreement as a Guarantor, as indicated with its signature below; 
(b)be bound by all covenants, agreements and acknowledgments attributable to a Guarantor in the Credit Agreement; and 
(c)perform all obligations and duties required of it by the Credit Agreement.
2.Each New Guarantor represents and warrants that the representations and warranties contained in Article V of the Credit Agreement as they relate to such New Guarantor or which are contained in any other Loan Document under or in connection herewith are true and correct in all material respects on and as of the date hereof, except (i) to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date, (ii) any representation or warranty that is already by its terms qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects as of such applicable date (including such earlier date set forth in the foregoing clause (i)) after giving effect to such qualification and (iii) that for purposes of this certification, the representations and warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01.
3.The name, type of organization, jurisdiction of incorporation or organization and taxpayer identification number (or, in the case of a Foreign Subsidiary, the true and correct unique identification number that has been issued to such Foreign Subsidiary by its jurisdiction of organization, if any) of each New Guarantor is set forth in Annex I to this Joinder Agreement.

4.This Joinder Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single agreement.
5.Except as expressly supplemented hereby, the Credit Agreement and the Guaranty shall remain in full force and effect.
6.THIS JOINDER AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS JOINDER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
[Signature Page Follows]

    IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to be duly executed and delivered by its proper and duly authorized officer as of the day and year first above written.
KW SB MANAGER, LLC
KW THE CADENCE, LLC
KW WATERLINE APARTMENTS, LLC
KW 360 SPEAR, LLC
KW ADVANTA OFFICE COMMONS, LLC 
KW SOUTH BAY GALLERIA, LLC 
KW PINE 43, LLC 
KW EISLEY SPONSOR, LLC 
KW LPC INVESTOR, LLC 
KW OXFORD NORTH, LLC 
KW ALILA NAPA VALLEY, LLC, 
each as a New Guarantor 

By:    /s/ In Ku Lee    
Name:  In Ku Lee
Title:    Vice President

[Signature Page to Joinder Agreement]

ACKNOWLEDGED AND AGREED TO: 
BANK OF AMERICA, N.A.,
as Administrative Agent

By:    /s/ Tiffany Lin    
Name:  Tiffany Lin
Title:    Assistant Vice President
[Signature Page to Joinder Agreement]

KENNEDY-WILSON, INC.,
as the Parent Borrower

By:    /s/ In Ku Lee    
Name:  In Ku Lee
Title:    Secretary

[Signature Page to Joinder Agreement]

ANNEX I
TO JOINDER AGREEMENT
												
	Name of
Guarantor	Type of Organization	Jurisdiction of Incorporation/Organization	Taxpayer ID/
Identification Number
	KW SB MANAGER, LLC 
	Limited liability company	Delaware	46-3938668
	KW THE CADENCE, LLC	Limited liability company	Delaware	46-1288281
	KW WATERLINE APARTMENTS, LLC	Limited liability company	Delaware	46-3938910
	KW 360 SPEAR, LLC	Limited liability company	Delaware	81-4202469
	KW ADVANTA OFFICE COMMONS, LLC	Limited liability company	Delaware	81-4202521
	KW SOUTH BAY GALLERIA, LLC	Limited liability company	Delaware	84-3789592
	KW PINE 43, LLC	Limited liability company	Delaware	84-3865064
	KW EISLEY SPONSOR, LLC	Limited liability company	Delaware	84-3892886
	KW LPC INVESTOR, LLC	Limited liability company	Delaware	81-4193289

												
	KW OXFORD NORTH, LLC	Limited liability company	Delaware	81-4193794
	KW ALILA NAPA VALLEY, LLC	Limited liability company	Delaware	84-3918621

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