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Article 1. DEFINITIONS; INTERPRETATIONS | 1 | |||
Section 1.01 Definitions | 1 | |||
Section 1.02 Rules of Construction | 43 | |||
Section 1.03 References to Interest | 43 | |||
Section 1.04 References to Subordination | 43 | |||
Section 1.05 Payments, Instructions, Notices, Opinions and Certifications by the Issuer | 44 | |||
Article 2. ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF NOTES | 44 | |||
Section 2.01 Form and Dating | 44 | |||
Section 2.02 Execution and Authentication | 44 | |||
Section 2.03 Registrar and Paying Agent | 45 | |||
Section 2.04 Paying Agent to Hold Money in Trust | 45 | |||
Section 2.05 Holder Lists | 46 | |||
Section 2.06 Transfer and Exchange | 46 | |||
Section 2.07 Replacement Notes | 62 | |||
Section 2.08 Outstanding Notes | 62 | |||
Section 2.09 Treasury Notes | 62 | |||
Section 2.10 Temporary Notes | 63 | |||
Section 2.11 Cancellation | 63 | |||
Section 2.12 Defaulted Interest | 63 | |||
Section 2.13 Additional Notes; Purchases | 63 | |||
Article 3. REDEMPTION | 64 | |||
Section 3.01 Optional Redemption | 64 | |||
Section 3.02 Mandatory Redemption | 64 | |||
Section 3.03 Notices to Trustee | 64 | |||
Section 3.04 Selection of Notes to be Redeemed | 65 | |||
Section 3.05 Notice of Redemption | 65 | |||
Section 3.06 Effect of Notice of Redemption | 66 | |||
Section 3.07 Deposit of Redemption Price | 66 | |||
Section 3.08 Notes Redeemed In Part | 66 | |||
Article 4. COVENANTS | 67 | |||
Section 4.01 Payment of Principal and Interest | 67 | |||
Section 4.02 Maintenance of Office or Agency | 67 | |||
Section 4.03 Appointments to Fill Vacancies in Trustee’s Office | 67 | |||
Section 4.04 Provisions as to Paying Agent | 67 | |||
Section 4.05 Existence | 69 | |||
Section 4.06 Reports | 69 | |||
Section 4.07 Stay, Extension and Usury Laws | 70 |
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Section 4.08 Compliance Certificate; Statements as to Defaults | 70 | |||
Section 4.09 Restricted Payments | 71 | |||
Section 4.10 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries | 76 | |||
Section 4.11 Incurrence of Indebtedness and Issuance of Preferred Stock | 79 | |||
Section 4.12 Asset Sales | 85 | |||
Section 4.13 Transactions with Affiliates. | 89 | |||
Section 4.14 Liens | 92 | |||
Section 4.15 Business Activities | 92 | |||
Section 4.16 Repurchase at the Option of Holders upon Change of Control | 92 | |||
Section 4.17 Payments for Consent | 94 | |||
Section 4.18 Additional Note Guarantees | 94 | |||
Section 4.19 Designation of Restricted and Unrestricted Subsidiaries | 95 | |||
Section 4.20 Anti-Layering | 95 | |||
Section 4.21 Restrictions on Purchases of Existing Convertible Notes | 96 | |||
Article 5. MERGER, CONSOLIDATION OR SALE OF ASSETS | 96 | |||
Section 5.01 Merger, Consolidation or Sale of Assets | 96 | |||
Section 5.02 Successor Company Substituted | 98 | |||
Section 5.03 Opinion Of Counsel To Be Given Trustee | 99 | |||
Article 6. LISTS OF NOTEHOLDERS AND REPORTS BY THE ISSUER AND THE TRUSTEE | 99 | |||
Section 6.01 Lists of Noteholders | 99 | |||
Section 6.02 Preservation and Disclosure of Lists | 100 | |||
Section 6.03 Reports by Trustee | 100 | |||
Article 7. DEFAULTS AND REMEDIES | 100 | |||
Section 7.01 Events of Default | 100 | |||
Section 7.02 Acceleration | 104 | |||
Section 7.03 Other Remedies | 104 | |||
Section 7.04 Waiver of Past Defaults | 104 | |||
Section 7.05 Control by Majority | 105 | |||
Section 7.06 Limitation on Suits | 105 | |||
Section 7.07 Rights of Holders of Notes to Receive Payment | 105 | |||
Section 7.08 Collection Suit by Trustee | 106 | |||
Section 7.09 Trustee May File Proofs of Claim | 106 | |||
Section 7.10 Priorities | 106 | |||
Section 7.11 Undertaking for Costs | 107 | |||
Article 8. CONCERNING THE TRUSTEE | 107 | |||
Section 8.01 Duties and Responsibilities of Trustee | 107 | |||
Section 8.02 Reliance on Documents, Opinions, Etc. | 109 | |||
Section 8.03 No Responsibility for Recitals, Etc. | 111 | |||
Section 8.04 Trustee, Paying Agents or Registrar May Own Notes | 111 | |||
Section 8.05 Monies to Be Held in Trust | 111 |
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Section 8.06 Compensation and Expenses of Trustee | 111 | |||
Section 8.07 Officer’s Certificate as Evidence | 112 | |||
Section 8.08 Conflicting Interests of Trustee | 112 | |||
Section 8.09 Eligibility of Trustee | 113 | |||
Section 8.10 Resignation or Removal of Trustee | 113 | |||
Section 8.11 Acceptance by Successor Trustee | 114 | |||
Section 8.12 Succession by Merger, Etc. | 115 | |||
Section 8.13 Limitation on Rights of Trustee as Creditor | 115 | |||
Section 8.14 Trustee’s Application for Instructions from the Issuer | 115 | |||
Article 9. CONCERNING THE NOTEHOLDERS | 116 | |||
Section 9.01 Action by Noteholders | 116 | |||
Section 9.02 Proof of Execution by Noteholders | 116 | |||
Section 9.03 Who Are Deemed Absolute Owners | 116 | |||
Section 9.04 Issuer-Owned Notes Disregarded | 116 | |||
Section 9.05 Revocation of Consents; Future Holders Bound | 117 | |||
Article 10. NOTE GUARANTEES | 117 | |||
Section 10.01 Guarantee | 117 | |||
Section 10.02 Limitation on Guarantor Liability | 119 | |||
Section 10.03 Execution and Delivery of Note Guarantee | 120 | |||
Section 10.04 Guarantors May Consolidate, etc., on Certain Terms | 120 | |||
Section 10.05 Releases | 121 | |||
Article 11. SUPPLEMENTAL INDENTURES | 122 | |||
Section 11.01 Supplemental Indentures Without Consent of Noteholders | 122 | |||
Section 11.02 Supplemental Indentures With Consent of Noteholders | 123 | |||
Section 11.03 Effect of Supplemental Indentures | 124 | |||
Section 11.04 Notation on Notes | 125 | |||
Section 11.05 Evidence of Compliance of Supplemental Indenture to Be Furnished Trustee | 125 | |||
Article 12. SATISFACTION AND DISCHARGE | 125 | |||
Section 12.01 Satisfaction and Discharge | 125 | |||
Section 12.02 Application of Trust Money | 126 | |||
Article 13. IMMUNITY OF INCORPORATORS, SHAREHOLDERS, OFFICERS AND DIRECTORS | 127 | |||
Section 13.01 Indenture and Notes Solely Corporate Obligations | 127 | |||
Article 14. LEGAL DEFEASANCE AND COVENANT DEFEASANCE | 127 | |||
Section 14.01 Option to Effect Legal Defeasance or Covenant Defeasance | 127 | |||
Section 14.02 Legal Defeasance and Discharge | 127 | |||
Section 14.03 Covenant Defeasance | 128 | |||
Section 14.04 Conditions to Legal or Covenant Defeasance | 129 | |||
Section 14.05 Deposited Money and Government Obligations to Be Held in Trust; Other Miscellaneous Provisions | 130 |
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Section 14.06 Repayment to Issuer | 130 | |||
Section 14.07 Reinstatement | 131 | |||
Article 15. INTERCREDITOR AGREEMENT | 131 | |||
Article 16. COLLATERAL | 131 | |||
Section 16.01 Security Documents | 131 | |||
Section 16.02 Collateral Agent | 131 | |||
Section 16.03 Authorization of Actions to Be Taken | 132 | |||
Section 16.04 Release of Collateral. | 133 | |||
Section 16.05 Use of Collateral; Compliance with Section 314(d) of the Trust Indenture Act | 135 | |||
Section 16.06 Powers Exercisable by Receiver or Trustee | 136 | |||
Section 16.07 Voting | 136 | |||
Section 16.08 Collateral Proceeds Account | 136 | |||
Section 16.09 Appointment and Authorization of U.S. Bank National Association as Collateral Agent | 138 | |||
Section 16.10 Recordings and Opinions | 139 | |||
Article 17. MISCELLANEOUS PROVISIONS | 139 | |||
Section 17.01 Provisions Binding on Issuer’s Successors | 139 | |||
Section 17.02 Official Acts by Successor | 139 | |||
Section 17.03 Addresses for Notices, Etc | 140 | |||
Section 17.04 Governing Law | 140 | |||
Section 17.05 Evidence of Compliance with Conditions Precedent; Certificates and Opinions of Counsel to Trustee | 140 | |||
Section 17.06 Legal Holidays | 141 | |||
Section 17.07 Trust Indenture Act | 141 | |||
Section 17.08 Benefits of Indenture | 141 | |||
Section 17.09 Table of Contents, Headings, Etc. | 142 | |||
Section 17.10 Authenticating Agent | 142 | |||
Section 17.11 Execution in Counterparts | 143 | |||
Section 17.12 Severability | 143 | |||
Section 17.13 Waiver of Jury Trial | 143 | |||
Section 17.14 Consent to Jurisdiction; Consent to Service of Process | 143 | |||
Section 17.15 Force Majeure | 144 | |||
Section 17.16 Currency Indemnity | 144 | |||
Section 17.17 U.S.A. Patriot Act | 144 | |||
Section 17.18 Conflict with Other Documents | 144 | |||
Section 17.19 Communication by Holders of Notes with Other Holders of Notes | 145 | |||
Section 17.20 Rules by Trustee and Agents | 145 | |||
Section 17.21 No Adverse Interpretation of Other Agreements | 145 |
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Exhibit A Form of Note | A-1 | |
Exhibit B Form of Change of Control Purchase Notice | B-1 | |
Exhibit C Form of Certificate of Transfer | C-1 | |
Exhibit D Form of Notation of Guarantee | D-1 | |
Exhibit E Form of Supplemental Indenture | E-1 | |
Exhibit F Form of Certificate of Exchange | F-1 |
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ISSUE, DESCRIPTION, EXECUTION, REGISTRATION AND EXCHANGE OF
NOTES
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REDEMPTION
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COVENANTS
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MERGER, CONSOLIDATION OR SALE OF ASSETS
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LISTS OF NOTEHOLDERS AND REPORTS BY THE ISSUER AND THE
TRUSTEE
99
DEFAULTS AND REMEDIES
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CONCERNING THE TRUSTEE
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CONCERNING THE NOTEHOLDERS
116
NOTE GUARANTEES
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SUPPLEMENTAL INDENTURES
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SATISFACTION AND DISCHARGE
125
126
IMMUNITY OF INCORPORATORS, SHAREHOLDERS, OFFICERS AND
DIRECTORS
LEGAL DEFEASANCE AND COVENANT DEFEASANCE
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INTERCREDITOR AGREEMENT
COLLATERAL
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MISCELLANEOUS PROVISIONS
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as Authenticating Agent, certifies that this is one of the Notes described
in the within-named Indenture.
Authorized Officer
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HORIZON LINES, LLC | ||||
By: | ||||
Name: | ||||
Title: |
HORIZON LINES, INC. | ||
HORIZON LINES HOLDING CORP. | ||
HAWAII STEVEDORES, INC. | ||
HORIZON LINES OF PUERTO RICO, INC. | ||
HORIZON LINES OF ALASKA, LLC | ||
HORIZON LINES OF GUAM, LLC | ||
HORIZON LINES VESSELS, LLC | ||
H-L DISTRIBUTION SERVICE, LLC | ||
HORIZON LOGISTICS, LLC | ||
AERO LOGISTICS, LLC | ||
SEA-LOGIX, LLC | ||
HORIZON SERVICES GROUP, LLC |
By: | ||||
Name: | ||||
Title: |
U.S. BANK NATIONAL ASSOCIATION, | ||
as Trustee and Collateral Agent |
By: | ||||
Name: | ||||
Title: |
A-1
ISIN: [ ]
11.00% First Lien Senior Secured Note due 2016
No. __________ | $_________ |
A-2
HORIZON LINES, LLC | ||||
By: | ||||
Name: | ||||
Title: |
A-3
U.S. Bank National Association, as Trustee | ||||
By: | ||||
Name: | ||||
Title: |
A-4
11.00% First Lien Senior Secured Note Due 2016
1 | The dates in this sentence may be changed to the extent appropriate in respect of Additional Notes or Exchange Notes. |
A-5
A-6
A-7
4064 Colony Road
Suite 200
Charlotte, North Carolina 28211
Attention: General Counsel
A-8
(I) or (we) assign and transfer this Note to: | ||
(Insert assignee’s legal name) |
Your Signature: | ||||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A-9
Your Signature: | ||||||
Tax Identification No.: | ||||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A-10
Principal | ||||||||
Amount of | Amount of this | Signature of | ||||||
Amount of decrease | increase in | Global Note | authorized | |||||
in Principal | Principal Amount | following such | officer of | |||||
Amount of this | of this Global | decrease or | Trustee or | |||||
Date of Exchange | Global Note | Note | increase | Custodian | ||||
* | This schedule should be included only if the Note is issued in global form. |
A-11
To: | HORIZON LINES, LLC. U.S. BANK NATIONAL ASSOCIATION, as Trustee and Registrar |
Signature(s) | ||
Social Security or Other Taxpayer | ||
Identification Number | ||
Principal amount to be repaid (if less than all): | ||
$_____,000 | ||
NOTICE: The above signature(s) of the Holder(s) | ||
hereof must correspond with the name as written | ||
upon the face of the Note in every particular | ||
without alteration or enlargement or any change | ||
whatever. |
B-1
4064 Colony Road, Suite 200
Charlotte, North Carolina 28211
Attention: General Counsel
100 Wall Street
Suite 1600
New York, NY 10005
C-1
C-2
C-3
[Insert Name of Transferor] | ||||||
By: | ||||||
Title: |
C-4
C-5
HORIZON LINES HOLDING CORP.
HAWAII STEVEDORES, INC.
HORIZON LINES OF PUERTO RICO, INC.
HORIZON LINES OF ALASKA, LLC
HORIZON LINES OF GUAM, LLC
HORIZON LINES VESSELS, LLC
H-L DISTRIBUTION SERVICE, LLC
HORIZON LOGISTICS, LLC
D-1
AERO LOGISTICS, LLC SEA-LOGIX, LLC HORIZON SERVICES GROUP, LLC | ||||
By: | ||||
Name: | ||||
Title: |
D-2
E-1
[NEW GUARANTOR] | ||||
By: | ||||
Name: | ||||
Title: |
U.S. BANK NATIONAL ASSOCIATION, as Trustee | ||||
By: | ||||
Name: | ||||
Title: |
E-2
4064 Colony Road, Suite 200
Charlotte, North Carolina 28211
Attention: General Counsel
100 Wall Street
Suite 1600
New York, NY 10005
F-1
F-2
F-3
[Insert Name of Transferor] | ||||||
By: | ||||||
Title: |
F-4