Trust Indenture Act Section | Indenture Section | |||
310(a)(1) | 7.10 | |||
(a)(2) | 7.10 | |||
(a)(3) | N.A. | |||
(a)(4) | N.A. | |||
(a)(5) | 7.10 | |||
(b) | 7.03, 7.10 | |||
(c) | N.A. | |||
311(a) | 7.11 | |||
(b) | 7.11 | |||
(c) | N.A. | |||
312(a) | 2.05 | |||
(b) | 12.03 | |||
(c) | 12.03 | |||
313(a) | 7.06 | |||
(b)(1) | N.A. | |||
(b)(2) | 7.06; 7.07 | |||
(c) | 7.06; 12.02 | |||
(d) | 7.06 | |||
314(a) | 4.03; 12.05 | |||
(b) | N.A. | |||
(c)(1) | 12.04 | |||
(c)(2) | 12.04 | |||
(c)(3) | N.A. | |||
(d) | N.A. | |||
(e) | 12.04 | |||
(f) | N.A. | |||
315(a) | 7.01 | |||
(b) | 7.05; 12.02 | |||
(c) | 7.01 | |||
(d) | 7.01 | |||
(e) | 6.14 | |||
316(a)(last sentence) | 2.09 | |||
(a)(1)(A) | 6.05 | |||
(a)(1)(B) | 6.04 | |||
(a)(2) | N.A. | |||
(b) | 6.07 | |||
(c) | 2.12; 9.04 | |||
317(a)(1) | 6.08 | |||
(a)(2) | 6.12 | |||
(b) | 2.04 | |||
318(a) | 12.01 | |||
(b) | N.A. | |||
(c) | 12.01 |
N.A. means not applicable. | ||
* | This Cross-Reference Table is not part of the Indenture. |
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ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE | 1 | |||
Section 1.01 Definitions | 1 | |||
Section 1.02 Other Definitions | 37 | |||
Section 1.03 Incorporation by Reference of Trust Indenture Act | 38 | |||
Section 1.04 Rules of Construction | 38 | |||
Section 1.05 Acts of Holders | 39 | |||
ARTICLE 2 THE 2017 B NOTES | 41 | |||
Section 2.01 Form and Dating; Terms | 41 | |||
Section 2.02 Execution and Authentication | 42 | |||
Section 2.03 Registrar and Paying Agent | 43 | |||
Section 2.04 Paying Agent To Hold Money in Trust | 43 | |||
Section 2.05 Holder Lists | 44 | |||
Section 2.06 Transfer and Exchange | 44 | |||
Section 2.07 Replacement Notes | 56 | |||
Section 2.08 Outstanding Notes | 56 | |||
Section 2.09 Treasury Notes | 56 | |||
Section 2.10 Temporary Notes | 57 | |||
Section 2.11 Cancellation | 57 | |||
Section 2.12 Defaulted Interest | 57 | |||
Section 2.13 CUSIP Numbers | 58 | |||
ARTICLE 3 REDEMPTION | 58 | |||
Section 3.01 Notices to Trustee | 58 | |||
Section 3.02 Selection of Notes To Be Redeemed or Purchased | 58 | |||
Section 3.03 Notice of Redemption | 58 | |||
Section 3.04 Effect of Notice of Redemption | 59 | |||
Section 3.05 Deposit of Redemption or Purchase Price | 60 | |||
Section 3.06 Notes Redeemed or Purchased in Part | 60 | |||
Section 3.07 Optional Redemption | 60 | |||
Section 3.08 Mandatory Redemption | 61 | |||
Section 3.09 Offers To Repurchase by Application of Excess Proceeds | 62 | |||
ARTICLE 4 COVENANTS | 64 | |||
Section 4.01 Payment of Notes | 64 | |||
Section 4.02 Maintenance of Office or Agency | 65 | |||
Section 4.03 Reports and Other Information | 65 | |||
Section 4.04 Compliance Certificate | 66 | |||
Section 4.05 Taxes | 67 | |||
Section 4.06 Stay, Extension and Usury Laws | 67 |
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Section 4.07 Limitation on Restricted Payments | 67 | |||
Section 4.08 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries | 73 | |||
Section 4.09 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock | 74 | |||
Section 4.10 Asset Sales | 82 | |||
Section 4.11 Transactions with Affiliates | 84 | |||
Section 4.12 Liens | 86 | |||
Section 4.13 Corporate Existence | 87 | |||
Section 4.14 Offer to Repurchase Upon Change of Control | 87 | |||
Section 4.15 Limitation on Guarantees of Indebtedness by Restricted Subsidiaries | 89 | |||
Section 4.16 Liquidity Amount | 89 | |||
ARTICLE 5 SUCCESSORS | 90 | |||
Section 5.01 Merger, Consolidation or Sale of All or Substantially All Assets | 90 | |||
Section 5.02 Successor Corporation Substituted | 92 | |||
ARTICLE 6 DEFAULTS AND REMEDIES | 93 | |||
Section 6.01 Events of Default | 93 | |||
Section 6.02 Acceleration | 95 | |||
Section 6.03 Other Remedies | 95 | |||
Section 6.04 Waiver of Past Defaults | 96 | |||
Section 6.05 Control by Majority | 96 | |||
Section 6.06 Limitation on Suits | 96 | |||
Section 6.07 Rights of Holders of 2017 B Notes To Receive Payment | 96 | |||
Section 6.08 Collection Suit by Trustee | 97 | |||
Section 6.09 Restoration of Rights and Remedies | 97 | |||
Section 6.10 Rights and Remedies Cumulative | 97 | |||
Section 6.11 Delay or Omission Not Waiver | 97 | |||
Section 6.12 Trustee May File Proofs of Claim | 97 | |||
Section 6.13 Priorities | 98 | |||
Section 6.14 Undertaking for Costs | 98 | |||
ARTICLE 7 TRUSTEE | 99 | |||
Section 7.01 Duties of Trustee | 99 | |||
Section 7.02 Rights of Trustee | 100 | |||
Section 7.03 Individual Rights of Trustee | 101 | |||
Section 7.04 Trustee’s Disclaimer | 101 | |||
Section 7.05 Notice of Defaults | 101 | |||
Section 7.06 Reports by Trustee to Holders of the 2017 B Notes | 101 | |||
Section 7.07 Compensation and Indemnity | 102 | |||
Section 7.08 Replacement of Trustee or Agent | 103 | |||
Section 7.09 Successor Trustee by Merger, etc. | 104 | |||
Section 7.10 Eligibility; Disqualification | 104 | |||
Section 7.11 Preferential Collection of Claims Against Issuer | 104 |
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ARTICLE 8 LEGAL DEFEASANCE AND COVENANT DEFEASANCE | 104 | |||
Section 8.01 Option To Effect Legal Defeasance or Covenant Defeasance | 104 | |||
Section 8.02 Legal Defeasance and Discharge | 104 | |||
Section 8.03 Covenant Defeasance | 105 | |||
Section 8.04 Conditions to Legal or Covenant Defeasance | 106 | |||
Section 8.05 Deposited Money and Government Securities To Be Held in Trust; Other Miscellaneous Provisions | 107 | |||
Section 8.06 Repayment to Issuer | 107 | |||
Section 8.07 Reinstatement | 108 | |||
ARTICLE 9 AMENDMENT, SUPPLEMENT AND WAIVER | 108 | |||
Section 9.01 Without Consent of Holders of Notes | 108 | |||
Section 9.02 With Consent of Holders of Notes | 109 | |||
Section 9.03 Compliance with Trust Indenture Act | 111 | |||
Section 9.04 Revocation and Effect of Consents | 111 | |||
Section 9.05 Notation on or Exchange of Notes | 111 | |||
Section 9.06 Trustee To Sign Amendments, etc. | 112 | |||
Section 9.07 Payment for Consent | 112 | |||
ARTICLE 10 GUARANTEES | 112 | |||
Section 10.01 Guarantee | 112 | |||
Section 10.02 Limitation on Guarantor Liability | 114 | |||
Section 10.03 Execution and Delivery | 114 | |||
Section 10.04 Subrogation | 115 | |||
Section 10.05 Benefits Acknowledged | 115 | |||
Section 10.06 Release of Guarantees | 115 | |||
ARTICLE 11 SATISFACTION AND DISCHARGE | 116 | |||
Section 11.01 Satisfaction and Discharge | 116 | |||
Section 11.02 Application of Trust Money | 117 | |||
ARTICLE 12 MISCELLANEOUS | 117 | |||
Section 12.01 Trust Indenture Act Controls | 117 | |||
Section 12.02 Notices | 117 | |||
Section 12.03 Communication by Holders of Notes with Other Holders of Notes | 118 | |||
Section 12.04 Certificate and Opinion as to Conditions Precedent | 119 | |||
Section 12.05 Statements Required in Certificate or Opinion | 119 | |||
Section 12.06 Rules by Trustee and Agents | 119 | |||
Section 12.07 No Personal Liability of Directors, Officers, Employees and Stockholders | 119 | |||
Section 12.08 Governing Law | 120 | |||
Section 12.09 Waiver of Jury Trial | 120 | |||
Section 12.10 Force Majeure | 120 | |||
Section 12.11 No Adverse Interpretation of Other Agreements | 120 | |||
Section 12.12 Successors | 120 |
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Section 12.13 Severability | 120 | |||
Section 12.14 Counterpart Originals | 121 | |||
Section 12.15 Table of Contents, Headings, etc. | 121 | |||
Section 12.16 Qualification of Indenture | 121 | |||
EXHIBITS | ||||
Exhibit A Form of 2017 B Note | ||||
Exhibit B Form of Certificate of Transfer | ||||
Exhibit C Form of Certificate of Exchange | ||||
Exhibit D Form of Supplemental Indenture to Be Delivered by Subsequent Guarantors |
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Defined in | ||||
Term | Section | |||
“Affiliate Transaction” | 4.11 | (a) | ||
“Asset Sale Offer” | 4.10 | (c) | ||
“Authentication Order” | 2.02 | |||
“Change of Control Offer” | 4.14 | (a) | ||
“Change of Control Payment” | 4.14 | (a) | ||
“Change of Control Payment Date” | 4.14 | (a) | ||
“Covenant Defeasance” | 8.03 | |||
“Defeased Covenants” | 8.03 | |||
“DTC” | 2.03 | |||
“Event of Default” | 6.01 | (a) | ||
“Excess Proceeds” | 4.10 | (c) | ||
“Guarantor Liquidity Amount” | 4.16 | |||
“Guarantor Liquidity Assets” | 4.16 | |||
“Guarantor Liquidity Facility” | 4.16 | |||
“incur” or “incurrence” | 4.09 | (a) | ||
“Legal Defeasance” | 8.02 | |||
“Liquidity Facilities” | 4.16 | |||
“Non-Guarantor Liquidity Amount” | 4.16 | |||
“Non-Guarantor Liquidity Assets” | 4.16 | |||
“Non-Guarantor Liquidity Facility” | 4.16 | |||
“Note Register” | 2.03 | |||
“Offer Amount” | 3.09 | (b) | ||
“Offer Period” | 3.09 | (b) | ||
“Pari Passu Indebtedness” | 4.10 | (c) | ||
“Paying Agent” | 2.03 | |||
“Payment Blockage Period” | 11.03 | |||
“Payment Default” | 11.03 | |||
“Purchase Date” | 3.09 | (b) | ||
“Redemption Date” | 3.07 | (a) | ||
“Refinancing Indebtedness” | 4.09 | (b) | ||
“Refunding Capital Stock” | 4.07 | (b) |
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Defined in | ||||
Term | Section | |||
“Registrar” | 2.03 | |||
“Restricted Payments” | 4.07 | (a) | ||
“Special Redemption” | 3.08 | (a) | ||
“Special Redemption Amount” | 3.08 | (a) | ||
“Special Redemption Date” | 3.08 | (a) | ||
“Successor Company” | 5.01 | (a) | ||
“Successor Person” | 5.01 | (c) | ||
“Transfer Agent” | 2.03 | |||
“Treasury Capital Stock” | 4.07 | (b) | ||
“Trustee Account” | 4.01 |
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2017 B Notes | ||||
Year | Percentage | |||
2012 | 106.93750 | % | ||
2013 | 104.62500 | % | ||
2014 | 102.31250 | % | ||
2015 and thereafter | 100.00000 | % |
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200 East Basse Road
San Antonio, TX 78209
Attention: Brian Coleman, Senior Vice President and Treasurer
Telephone: (210) 832-3311
Facsimile: (210) 832-3432
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1211 Avenue of the Americas
New York, NY
Attention: Jay J. Kim, Esq.
Telephone: (212) 596-9000
Facsimile: (212) 596-9090
60 Livingston Avenue
St. Paul, Minnesota, 55107
Attention: Clear Channel Administrator
Facsimile: (651) 495-8097
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ISSUER: | Clear Channel Worldwide Holdings, Inc. | |||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Executive Vice President, Chief Financial Officer and Secretary | |||
GUARANTORS: | Clear Channel Outdoor Holdings, Inc. | |||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
Clear Channel Outdoor, Inc. | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
Clear Channel Adshel, Inc. | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
1567 Media LLC | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
Clear Channel Spectacolor, LLC | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
GUARANTORS: | Clear Channel Taxi Media, LLC | |||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
Clear Channel Outdoor Holdings Company Canada | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
Outdoor Management Services, Inc. | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
In-ter-space Services, Inc. | ||||
By: | /s/ Randall T. Mays | |||
Name: | Randall T. Mays | |||
Title: | Chief Financial Officer | |||
U.S. BANK NATIONAL ASSOCIATION, as Trustee, Paying Agent, Registrar and Transfer Agent | ||||
By: | /s/ Richard Prokosch | |||
Name: | Richard Prokosch | |||
Title: | Vice President | |||
A-1
ISIN [ ]1
representing up to
$2,000,000,000
9.25% Series B Senior Notes due 2017
No. ___ | [$__________] |
1 | Rule l44A Note CUSIP: l845lQ AB4 | |
Rule l44A Note ISIN: US1845lQAB4l | ||
Regulation S Note CUSIP: U18294 AB1 | ||
Regulation S Note ISIN: USU18294AB15 | ||
Exchange Note CUSIP: | ||
Exchange Note ISIN: |
A-2
CLEAR CHANNEL WORLDWIDE HOLDINGS, INC. as Issuer | ||||
By: | ||||
Name: | ||||
Title: | ||||
A-3
U.S. BANK NATIONAL ASSOCIATION, as Trustee | ||||
By: | ||||
Authorized Signatory | ||||
A-4
2 | With respect to the Initial Notes |
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2017 B | ||||
Year | Notes Percentage | |||
2012 | 106.93750 | % | ||
2013 | 104.62500 | % | ||
2014 | 102.31250 | % | ||
2015 and thereafter | 100.00000 | % |
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200 East Basse Road
San Antonio, TX 78209
Attention: Brian Coleman, Senior Vice President and Treasurer
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(I) or (we) assign and transfer this 2017 B Note to: | ||
(Insert assignee’s legal name) |
Your Signature: | ||||
(Sign exactly as your name appears on the face of this 2017 B Note) |
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
A-11
Your Signature: | ||||
(Sign exactly as your name appears on the face of this 2017 B Note) | ||||
Tax Identification No.: | ||||
* | Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). |
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Principal Amount | ||||||||||||||||
of | ||||||||||||||||
Amount of | Amount of increase | this Global Note | Signature of | |||||||||||||
decrease | in Principal | following such | authorized officer | |||||||||||||
Date of | in Principal | Amount of this | decrease or | of Trustee or | ||||||||||||
Exchange | Amount | Global Note | increase | Note Custodian | ||||||||||||
* | This schedule should be included only if the Note is issued in global form. |
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200 East Basse Road
San Antonio, TX 78209
Attention: Brian Coleman, Senior Vice President and Treasurer
60 Livingston Avenue
St. Paul, Minnesota, 55107
Attention: Clear Channel Administrator
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B-2
B-3
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: |
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1. | The Transferor owns and proposes to transfer the following: |
(a) | [ ] a beneficial interest in the: |
(i) | [ ] 144A Global Note (CUSIP [ ]), or | ||
(ii) | [ ] Regulation S Global Note (CUSIP [ ]), or |
(b) | [ ] a Restricted Definitive Note. | |
2. | After the Transfer the Transferee will hold: |
(a) | [ ] a beneficial interest in the: |
(i) | [ ] 144A Global Note (CUSIP [ ]), or | ||
(ii) | [ ] Regulation S Global Note (CUSIP [ ]), or | ||
(iii) | [ ] Unrestricted Global Note (CUSIP [ ]); or |
(b) | [ ] a Restricted Definitive Note; or |
(c) | [ ] an Unrestricted Definitive Note, in accordance with the terms of the Indenture. |
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200 East Basse Road
San Antonio, TX 78209
Attention: Brian Coleman, Senior Vice President and Treasurer
60 Livingston Avenue
St. Paul, Minnesota, 55107
Attention: Clear Channel Administrator
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C-2
[Insert Name of Transferor] | ||||
By: | ||||
Name: | ||||
Title: |
C-3
TO BE DELIVERED BY SUBSEQUENT GUARANTORS]
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D-2
[GUARANTEEING SUBSIDIARY] | ||||
By: | ||||
Name: | ||||
Title: | ||||
U.S Bank National Association, as Trustee | ||||
By: | ||||
Name: | ||||
Title: |
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