This SUPPLEMENTAL INDENTURE, dated as of June 4, 2024 (this “Supplemental Indenture”), among SPECTRUM BRANDS, INC., a Delaware corporation (the “Company”), the Guarantors and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (as successor in interest to U.S. Bank National Association), a national banking association, as Trustee (the “Trustee”), under the Indenture (as defined below). Capitalized terms used herein and not otherwise defined shall have the meaning assigned to them in the Indenture.
WITNESSETH:
WHEREAS, the Company has issued its 5.50% Senior Notes due 2030 (the “Notes”) pursuant to an Indenture, dated as of June 30, 2020 (the “Indenture”) among the Company, the Guarantors and the Trustee;
WHEREAS, the Company has offered to purchase outstanding Notes for cash, pursuant to the terms and conditions of the Offer to Purchase and Consent Solicitation Statement, dated May 20, 2024 (as it may be amended or supplemented from time to time) (the “Tender Offer”);
WHEREAS, in connection with the Tender Offer, the Company has requested that Holders of the Notes deliver their consents with respect to the deletion of certain provisions of the Indenture;
WHEREAS, Section 9.02 of the Indenture provides that the Company, the Guarantors and the Trustee may amend or supplement the Indenture, the Notes or the Note Guarantees, with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including consents obtained in connection with the purchase of, or tender offer or exchange offer for, the Notes);
WHEREAS, the Holders of at least a majority in aggregate principal amount of the outstanding Notes have duly consented to the proposed modifications set forth in this Supplemental Indenture in accordance with Section 9.02 of the Indenture;
WHEREAS, the Company has heretofore delivered, or is delivering contemporaneously herewith, to the Trustee: (i) a copy of resolutions of the Board of Directors of the Company authorizing the execution of this Supplemental Indenture; (ii) evidence of the consent of the Holders set forth in the immediately preceding paragraph and (iii) the Officers’ Certificate and the Opinion of Counsel described in Sections 7.02(2) and 9.06 of the Indenture; and
WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental Indenture and to make this Supplemental Indenture valid and binding have been complied with or performed.
NOW, THEREFORE, in consideration of the foregoing and notwithstanding any provision of the Indenture which, absent this Supplemental Indenture, might operate to limit such action, the parties hereto, intending to be legally bound hereby, agree as follows:
ARTICLE ONE
AMENDMENTS
SECTION 1.01 Amendments.
| (a) | Subject to Section 2.01 hereof, the Indenture is hereby amended by modifying the second sentence of Section 3.03(a) in its entirety as follows: |
If the Company elects to redeem Notes, it must notify the Trustee in writing of the redemption date and the principal amount of Notes to be redeemed by delivering an Officer’s Certificate at least two business days before the redemption date (unless a shorter period is satisfactory to the Trustee).