(In thousands, except

EX-4.1 2 c88559exv4w1.htm EXHIBIT 4.1 Exhibit 4.1
Exhibit 4.1
PENSKE AUTOMOTIVE GROUP, INC.
as Issuer,
THE GUARANTORS NAMED HEREIN
as Guarantors,
and
BANK OF NEW YORK TRUST COMPANY, N.A.
as Trustee,
3.50% SENIOR SUBORDINATED CONVERTIBLE NOTES DUE 2026
AMENDED AND RESTATED SUPPLEMENTAL INDENTURE
Dated as of July 30, 2009
to
INDENTURE
Dated as of January 31, 2006

 

 


 

AMENDED AND RESTATED SUPPLEMENTAL INDENTURE
AMENDED AND RESTATED SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of July 30, 2009, among PAG SAN JOSE S1, INC., AUTOMOTIVE MEDIA HOLDINGS, LLC, PAG ACQUISITION 20, LLC, PAG ACQUISITION 21, LLC, PAG ACQUISITION 22, LLC, PAG ACQUISITION 23, LLC, PAG ACQUISITION 24, LLC, PAG ACQUISITION 25, LLC and PAG ACQUISITION 26, LLC (each a “Guaranteeing Subsidiary”), subsidiaries of Penske Automotive Group, Inc. (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Guarantors (as defined in the Indenture referred to herein) and Bank of New York Trust Company, N.A., successor to J.P. Morgan Trust Company, National Association, as trustee under the Indenture referred to below (the “Trustee”).
WITNESSETH
WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of January 31, 2006 providing for the issuance of 3.50% Senior Subordinated Convertible Notes due 2026 (the “Notes”);
WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”); and
WHEREAS, pursuant to Section 10.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:
1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.
2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby agrees to provide a Guarantee on the terms and subject to the conditions set forth in the Guarantee and in the Indenture including but not limited to Article 12 thereof, including the subordination provisions thereof.
4. NO RECOURSE AGAINST OTHERS. No past, present or future director, officer, employee, incorporator, stockholder or agent of the Guaranteeing Subsidiary(ies), as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary(ies) under the Notes, any Guarantees, 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 or any Guarantee by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes and this Guarantee.

 

 


 

5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
7. EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.
8. THE TRUSTEE. 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 of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company.
IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.
Dated as of July 30, 2009
         
  SIGNATURES

PENSKE AUTOMOTIVE GROUP, INC.
 
 
  By:   /s/ Robert O’Shaughnessy    
    Name:   Robert O’Shaughnessy   
    Title:   Executive Vice President – Finance and CFO   
 
  GUARANTORS:

UAG MINNEAPOLIS B1, LLC
JS IMPORTS, LLC
PALM AUTO PLAZA, LLC
WEST PALM NISSAN, LLC
UAG BOSTON FMM, LLC
UAG BOSTON FMB, LLC
UAG BOSTON FML, LLC
UAG BOSTON FMR, LLC
UAG BOSTON BENTLEY, LLC
WEST PALM S1, LLC
 
 
  By:   /s/ Robert O’Shaughnessy    
    Name:   Robert O’Shaughnessy   
    Title:   Assistant Treasurer   

 

 


 

                         
    SCOTTSDALE 101 MANAGEMENT, LLC    
    SCOTTSDALE PAINT & BODY, LLC    
    UAG ACQUISITION 1, LLC    
    UAG ACQUISITION 2, LLC    
    UAG ACQUISITION 3, LLC    
    UAG ACQUISITION 4, LLC    
    UAG ACQUISITION 5, LLC    
    TAMBURRO ENTERPRISES, INC.    
    CLASSIC SPECIAL ADVERSTISING, INC.    
    CLASSIC SPECIAL, LLC    
    CLASSIC SPECIAL AUTOMOTIVE GP, LLC    
 
                       
    By:   /s/ Robert O’Shaughnessy
           
        Name:   Robert O’Shaughnessy        
        Title:   Assistant Treasurer        
 
                       
    CLASSIC OLDSMOBILE-PONTIAC-GMC, LTD.    
    CLASSIC SPECIAL HYUNDAI, LTD.    
    HILL COUNTRY IMPORTS, LTD.    
 
                       
        By:   CLASSIC SPECIAL, LLC        
        Its:   General Partner        
 
                       
        By:   /s/ Robert O’Shaughnessy        
                     
 
          Name:   Robert O’Shaughnessy        
 
          Title:   Assistant Treasurer        
 
                       
    CLASSIC SPECIAL AUTOMOTIVE, LTD.    
 
                       
        By:   CLASSIC SPECIAL AUTOMOTIVE GP, LLC        
        Its:   General Partner        
 
                       
        By:   /s/ Robert O’Shaughnessy        
                     
 
          Name:   Robert O’Shaughnessy        
 
          Title:   Assistant Treasurer        
 
                       
    ADDITIONAL GUARANTORS    
 
                       
    PAG LONG ISLAND M1, LLC    
    PAG LONG ISLAND A1, LLC    
    PAG LONG ISLAND B1, LLC    
    PAG LONG ISLAND L1, LLC    
    TURNERSVILLE AUTO OUTLET, LLC    
    SMART USA DISTRIBUTOR LLC    
    PAG NORTH SCOTTSDALE BE, LLC    

 

 


 

                         
    PENSKE DIRECT, LLC    
    CYCLE HOLDINGS, LLC    
    PAG TURNERSVILLE AU, LLC    
    PAG ACQUISITION 15, LLC    
    PAG MICHIGAN S1, LLC    
    PAG AUSTIN S1, LLC    
    PAG CLOVIS T1, INC.    
    PAG ORLANDO LIMITED, INC.    
    PAG ORLANDO GENERAL, INC.    
 
                       
    By:   /s/ Robert O’Shaughnessy    
             
        Name:   Robert O’Shaughnessy    
        Title:   Assistant Treasurer    
 
                       
    PAG ORLANDO PARTNERSHIP, LTD.    
 
                       
        By:   PAG ORLANDO GENERAL, INC.    
        Its:   General Partner    
 
                       
            By:   /s/ Robert O’Shaughnessy    
                     
 
              Name:   Robert O’Shaughnessy    
 
              Title:   Assistant Treasurer    
 
                       
    HBL, LLC    
 
                       
        By:   Penske Automotive Group, Inc.    
        Its:   Sole Member    
 
                       
            By:   /s/ Robert O’Shaughnessy    
                     
 
              Name:   Robert O’Shaughnessy    
 
              Title:   Executive Vice President-Finance    
 
                       
    PETER PAN MOTORS, INC.    
 
                       
    By:   /s/ Robert O’Shaughnessy    
             
        Name:   Robert O’Shaughnessy    
        Title:   Assistant Treasurer    
 
                       
    UAG MENTOR ACQUISITION, LLC    
 
                       
        By:   Penske Automotive Group, Inc.    
        Its:   Sole Member    
 
                       
            By:   /s/ Robert O’Shaughnessy    
                     
 
              Name:   Robert O’Shaughnessy    
 
              Title:   Executive Vice President-Finance    

 

 


 

                 
    PAG SAN JOSE S1, INC.    
 
               
    By:   /s/ Robert O’Shaughnessy    
             
 
      Name:   Robert O’Shaughnessy    
 
      Title:   Assistant Treasurer    
 
               
    AUTOMOTIVE MEDIA HOLDINGS, LLC    
    PAG ACQUISITION 20, LLC    
    PAG ACQUISITION 21, LLC    
    PAG ACQUISITION 22, LLC    
    PAG ACQUISITION 23, LLC    
    PAG ACQUISITION 24, LLC    
    PAG ACQUISITION 25, LLC    
    PAG ACQUISITION 26, LLC    
 
               
    By:   PENSKE AUTOMOTIVE GROUP, INC.    
    Its:   Sole Member    
 
               
    By:   /s/ Robert O’Shaughnessy    
             
 
      Name:   Robert O’Shaughnessy    
 
      Title:   Executive Vice President-Finance and CFO    

 

 


 

THE BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee,
as successor in interest to
J.P. Morgan Trust Company, N.A.
         
     
  By:   /s/ Judy Bartolini    
    Name:   Judy Bartolini   
    Title:   Vice President