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First Supplemental Indenture

Indenture Agreement

First Supplemental Indenture | Document Parties: BROOK HOLLOW PROPERTIES, INC | BROOKHOLLOW CORPORATION | CREOLE CORPORATION | INDUSTRIES HOLDINGS, LLC | PACIFIC CUSTOM MATERIALS, INC | PARTIN LIMESTONE PRODUCTS, INC | RIVERSIDE CEMENT COMPANY | RIVERSIDE CEMENT HOLDINGS COMPANY | SOUTHWESTERN FINANCIAL CORPORATION | TXI AVIATION, INC | TXI CALIFORNIA INC | TXI CEMENT COMPANY | TXI LLC | TXI Operating Trust | TXI POWER COMPANY | TXI RIVERSIDE INC | TXI TRANSPORTATION COMPANY | VIRGINIA, INC | WELLS FARGO BANK, NATIONAL ASSOCIATION You are currently viewing:
This Indenture Agreement involves

BROOK HOLLOW PROPERTIES, INC | BROOKHOLLOW CORPORATION | CREOLE CORPORATION | INDUSTRIES HOLDINGS, LLC | PACIFIC CUSTOM MATERIALS, INC | PARTIN LIMESTONE PRODUCTS, INC | RIVERSIDE CEMENT COMPANY | RIVERSIDE CEMENT HOLDINGS COMPANY | SOUTHWESTERN FINANCIAL CORPORATION | TXI AVIATION, INC | TXI CALIFORNIA INC | TXI CEMENT COMPANY | TXI LLC | TXI Operating Trust | TXI POWER COMPANY | TXI RIVERSIDE INC | TXI TRANSPORTATION COMPANY | VIRGINIA, INC | WELLS FARGO BANK, NATIONAL ASSOCIATION

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Title: First Supplemental Indenture
Date: 8/19/2008
Industry: Construction - Raw Materials     Sector: Capital Goods

First Supplemental Indenture, Parties: brook hollow properties  inc , brookhollow corporation , creole corporation , industries holdings  llc , pacific custom materials  inc , partin limestone products  inc , riverside cement company , riverside cement holdings company , southwestern financial corporation , txi aviation  inc , txi california inc , txi cement company , txi llc , txi operating trust , txi power company , txi riverside inc , txi transportation company , virginia  inc , wells fargo bank  national association
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Texas Industries, Inc.

 

 

7¼% SENIOR NOTES DUE 2013

 


 

First Supplemental Indenture

 

Dated as of August 18, 2008

 

to

 

Indenture

 

Dated as of July 6, 2005

 


 

Wells Fargo Bank, National Association

 

Trustee

 


 

 


 


 

FIRST SUPPLEMENTAL INDENTURE (the “Supplemental Indenture”), dated as of August 18, 2008, between TEXAS INDUSTRIES, INC., a Delaware corporation (the “Company”), certain of its subsidiaries and WELLS FARGO BANK, NATIONAL ASSOCIATION, as trustee (the “Trustee”), under an Indenture dated as of July 6, 2005 (the “Indenture”).

 

WITNESSETH:

 

WHEREAS, Section 9.01 of the Indenture provides, among other things, that the Company, the Guarantors and the Trustee may, without the consent of any Holder of a Note, amend or supplement the Indenture (i) to provide for the issuance of Additional Notes in accordance with the limitations set forth in the Indenture and (ii) to make any change that would provide any additional or benefits to the Holders of Notes or that does not materially adversely affect the legal rights under the Indenture of any such Holder; and

 

WHEREAS, the Company has offered for sale $300,000,000 of Notes pursuant to a preliminary offering memorandum dated as of August 7, 2008 (the “Offering Memorandum”) which would constitute Additional Notes under the Indenture; and

 

WHEREAS, the Company desires to amend the Indenture to provide for the automatic exchange of beneficial interests in a Restricted Global Note for the Additional Notes under certain circumstances for beneficial interests in an Unrestricted Global Note.

 

WHEREAS, concurrently with such offer the Company has delivered a Consent Solicitation Statement dated as of August 7, 2008 (the “Consent Solicitation Statement”) to the holders of Notes, including the prospective purchasers of such Additional Notes, and has provided in the Offering Memorandum and Consent Solicitation Statement that purchasers of such Additional Notes are deemed to consent to the amendment described in the Consent Solicitation Statement and that the offer of such Additional Notes is conditioned upon the purchasers thereof giving the consent provided for therein (the “Consent”); and

 

WHEREAS, prospective purchasers of such Additional Notes who accept the Company’s offer, as part of such acceptance, have agreed to purchase Additional Notes substantially in the form of Exhibit A hereto and to give the Consent as described in the legend to such Additional Notes; and

 

WHEREAS, all things necessary to make this Supplemental Indenture a valid supplement to the Indenture in accordance with its terms have been done;

 

NOW, THEREFORE, the parties hereto hereby agree as follows:

 

Section 1.   Effectiveness of Supplemental Indenture . This Supplemental Indenture shall become effective as of the date hereof.

 


 

Section 2.   Additional Notes . On or after the date hereof, the Company will issue $300,000,000 in aggregate principal amount of Additional Notes which shall be considered Notes for all purposes under the Indenture. The Additional Notes and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit A hereto. Acceptance of such Additional Notes shall, as described in the legend to such Additional Notes, constitute and confirm the giving of the Consent.

 

Section 3.   Amendment to Indenture . The following subsection (v) shall be added to Section 2.07(b) of the Indenture:

 

(v)   Automatic Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. Upon the Company’s satisfaction that the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act, beneficial interests in a Restricted Global Note may be automatically exchanged into beneficial interests in an Unrestricted Global Note without any action required by or on behalf of the Holder (the “Automatic Exchange”) at any time on or after the date that is the 366th calendar day after the issue date of such Notes, or, if such day is not a Business Day, on the next succeeding Business Day (the “Automatic Exchange Date”). Upon the Company’s satisfaction that the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act, the Company may (i) provide written notice to the Trustee at least 10 calendar days prior to the Automatic Exchange, instructing the Trustee to direct the Depositary to exchange all of the outstanding beneficial interests in a particular Restricted Global Note to the Unrestricted Global Note, which the Company shall have previously otherwise made eligible for exchange with the DTC, (ii) provide prior written notice (the “Automatic Exchange Notice”) to each Holder at such Holder’s address appearing in the register of Holders at least 10 calendar days prior to the Automatic Exchange Date (the “Automatic Exchange Notice Date”), which notice must include (w) the Automatic Exchange Date, (x) the section of the Indenture pursuant to which the Automatic Exchange shall occur, (y) the “CUSIP” number of the Restricted Global Note from which such Holder’s beneficial interests will be transferred and the (z) “CUSIP” number of the Unrestricted Global Note into which such Holder’s beneficial interests will be transferred, and (iii) on or prior to the date of the Automatic Exchange, deliver to the Trustee for authentication one or more Unrestricted Global Notes, duly executed by the Company, in an aggregate principal amount equal to the aggregate principal amount of Restricted Global Notes to be exchanged. At the Company’s request on no less than 5 calendar days’ notice, the Trustee shall deliver, in the Company’s name and at its expense, the Automatic Exchange Notice to each Holder at such Holder’s address appearing in the register of Holders. Notwithstanding anything to the contrary in this Section 2.07, during the 10 day period between the Automatic Exchange Notice Date and the Automatic Exchange Date, no transfers or exchanges other than pursuant to this Section 2.07(b)(v) shall be permitted without the prior written consent of the Company. As a condition to any Automatic Exchange, the Company shall provide, and the Trustee shall be entitled to rely upon, an Officers’ Certificate in form reasonably acceptable to the Trustee to the effect that the Automatic Exchange shall be effected in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act and that the aggregate principal amount of the particular Restricted Global Note is to be transferred to the particular Unrestricted Global Note by adjustment made on the records of the Trustee, as custodian for the Depositary to reflect the Automatic Exchange. Upon such exchange of beneficial interests pursuant to this Section 2.07(b)(v), the aggregate principal amount of the Global Notes shall be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depositary, to reflect the relevant increase or decrease in the principal amount of such Global Note resulting from the applicable exchange. The Restricted Global Note from which beneficial interests are transferred pursuant to an Automatic Exchange shall be canceled following the Automatic Exchange.

 

2


 

Section 4.   Amendment to Indenture . Section 2.07(g)(i) of the Indenture shall be deleted in its entirety and replaced by the following:

 

(i)   Private Placement Legend. Except as permitted below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form:

 

“THIS NOTE AND THE GUARANTEES ENDORSED HEREON HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE, THE GUARANTEES ENDORSED HEREON NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS NOTE AND THE GUARANTEES ENDORSED HEREON BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH TEXAS INDUSTRIES, INC. (“TEXAS INDUSTRIES”) OR ANY AFFILIATE OF TEXAS INDUSTRIES WAS THE OWNER OF THIS NOTE AND THE GUARANTEES ENDORSED HEREON (OR ANY PREDECESSOR OF THIS NOTE AND THE GUARANTEES ENDORSED HEREON) (THE “RESALE RESTRICTION TERMINATION DATE”) ONLY (A) TO TEXAS INDUSTRIES OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES AND THE GUARANTEES ENDORSED THEREON ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT (E) PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE) OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO TEXAS INDUSTRIES’ AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER (1) PURSUANT TO CLAUSE (D) PRIOR TO THE END OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSES (E) OR (F) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (2) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.”

 

3


 

Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph (b)(iv), (b)(v), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii), (e)(iii) or (f) to this Section 2.07 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend.

 

Section 5.   Governing Law . THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE AND THE INDENTURE AS AMENDED HEREBY.

 

Section 6.   Terms Defined . Capitalized terms used in this Supplemental Indenture and not otherwise defined herein shall have the respective meanings set forth in the Indenture, as amended hereby.

 

Section 7.   Counterparts . This Supplemental Indenture may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signature thereto and hereto were upon the same instrument.

 

Section 8.     Severability Clause . In case any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, to the extent permitted by law, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Section 9.   Ratification . Except as expressly amended by this Supplemental Indenture, each provision of the Indenture shall remain in full force and effect, and, as amended hereby, the Indenture is in all respects agreed to, ratified and confirmed by each of the Company, the Guarantors and the Trustee.

 

* * *

 

4


 

IN WITNESS WHEREOF, the undersigned have caused this Supplemental Indenture to be duly executed by their respective officers thereunto duly authorized, all as of the day and year first above written.

 

 

Company”

 

 

 

TEXAS INDUSTRIES, INC.

 

 

 

By:

/s/Kenneth R. Allen

 

 

Name:

Kenneth R. Allen

 

 

Title:

Vice President, Finance and

Chief Financial Officer

 

 

 

 

 

“Trustee”

 

 

 

WELLS FARGO BANK, N.A.

 

 

 

By:

/s/John C. Stohlmann

 

 

Name:

John C. Stohlmann

 

 

Title:

Vice President

 


 

 

“Guarantors”

 

 

 

BROOKHOLLOW CORPORATION

 

BROOK HOLLOW PROPERTIES, INC.

 

BROOKHOLLOW OF ALEXANDRIA, INC.

 

BROOKHOLLOW OF VIRGINIA, INC.

 

SOUTHWESTERN FINANCIAL CORPORATION

 

CREOLE CORPORATION

 

PACIFIC CUSTOM MATERIALS, INC.

 

RIVERSIDE CEMENT COMPANY

 

PARTIN LIMESTONE PRODUCTS, INC.

 

RIVERSIDE CEMENT HOLDINGS COMPANY

 

TXI AVIATION, INC.

 

TXI CALIFORNIA INC.

 

TXI CEMENT COMPANY

 

TXI POWER COMPANY

 

TXI RIVERSIDE INC.

 

TXI TRANSPORTATION COMPANY

 

 

 

 

 

By:

/s/Kenneth R. Allen

 

 

Kenneth R. Allen, Authorized Signatory

 


 

 

Guarantors”

 

 

 

TEXAS INDUSTRIES HOLDINGS, LLC

 

TEXAS INDUSTRIES TRUST

 

TXI LLC

 

TXI OPERATING TRUST

 

 

 

 

 

By:

/s/Kenneth R. Allen

 

 

Kenneth R. Allen, Authorized Signatory

 

 

 

 

 

 

 

 

 

TXI OPERATIONS, LP

 

 

 

By: TXI Operating Trust, its general partner

 

 

 

 

 

 

 

 

 

By:

/s/Kenneth R. Allen

 

 

Kenneth R. Allen, Authorized Signatory

 


 

EXHIBIT A

 

[Face of Note]

 

[INSERT APPROPRIATE LEGENDS]

 

BY VIRTUE OF ITS ACCEPTANCE OF THIS NOTE, EACH HOLDER HEREOF CONSENTS TO, AND SHALL BE DEEMED TO CONSENT TO AN AMENDMENT TO THE INDENTURE REFERRED TO BELOW, WHICH CONSENT AND AMENDMENT ARE DESCRIBED IN THE COMPANY’S OFFERING MEMORANDUM DATED AS OF AUGUST 7, 2008 AND CONSENT SOLICITATION STATEMENT DATED AS OF AUGUST 7, 2008. SUCH CONSENT SHALL BE EFFECTIVE UPON ISSUANCE OF THIS NOTE AND SHALL BIND THE INITIAL HOLDER, AND ALL FUTURE HOLDERS, HEREOF.

 

THIS NOTE IS ISSUED WITH OR


 
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