SUPPLEMENTAL INDENTURE NO. 17

Contract Categories: Business Finance - Indenture Agreements
EX-4.8 9 dex48.htm SUPPLEMENTAL INDENTURE NO. 17 TO THE 11.00%/11.75% SENIOR TOGGLE NOTES INDENTURE Supplemental Indenture No. 17 to the 11.00%/11.75% Senior Toggle Notes Indenture

Exhibit 4.8

SUPPLEMENTAL INDENTURE NO. 17

Supplemental Indenture No. 17 (this “Supplemental Indenture”), dated as of December 14, 2010, among Realogy Corporation, a Delaware corporation (the “Issuer”), each of the guarantors listed on Schedule I hereto (the “Guarantors”) and The Bank of New York Mellon (formerly known as The Bank of New York), as successor trustee to Wells Fargo Bank, National Association, as trustee (the “Trustee”).

W I T N E S S E T H

WHEREAS, each of the Issuer and the Guarantors has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of April 10, 2007, as supplemented, pursuant to which the Issuer has issued its 11.00%/11.75% Senior Toggle Notes due 2014 (the “Notes”) and the Guarantors have provided guarantees (the Notes together with such guarantees, the “Securities”);

WHEREAS, Section 9.02 of the Indenture provides that, subject to certain conditions, the Issuer and the Trustee may amend or supplement the Indenture and the Securities with the consent of the Holders of at least a majority in principal amount of the Notes then outstanding voting as a single class (including, without limitation, consents obtained in connection with a purchase of or tender offer or exchange for, Notes) (“Requisite Consent”);

WHEREAS, the Issuer has distributed a confidential offering memorandum, dated November 30, 2010, as supplemented (the “Offering Memorandum”), and related Letter of Transmittal and Consent, dated November 30, 2010, as supplemented, to eligible holders of the Notes in connection with the Proposed Amendments (as defined in the Offering Memorandum) to the Indenture as described in the Offering Memorandum;

WHEREAS, the Requisite Consent to the Proposed Amendments to the provisions of the Indenture have been received by the Issuer and the Trustee and all other conditions precedent, if any, provided for in the Indenture relating to the execution of this Supplemental Indenture have been complied with as of the date hereof; and

WHEREAS, the Board of Directors of the Issuer and the Boards of Directors or Boards of Managers of the Guarantors have authorized and approved the execution and delivery of 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 parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

ARTICLE I

AMENDMENTS AND WAIVERS

Section 1.1 Amendments to Indenture. The following Sections of the Indenture and any corresponding provisions in the Notes are hereby amended as follows:

 

  (i) The Indenture is hereby amended to delete Section 4.03 (Reports and Other Information), Section 4.05 (Taxes), Section 4.07 (Limitation on Restricted Payments), Section 4.08 (Dividend and Other Payment Restrictions Affecting Subsidiaries), Section 4.09 (Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock), Section 4.10 (Asset Sales), Section 4.11 (Transactions with Affiliates), Section 4.12 (Liens), Section 4.13 (Corporate Existence), Section 4.14 (Offer to Repurchase Upon Change of Control), Section 4.15 (Future Note Guarantors), and paragraph (4) of Section 5.01(a) (Merger, Amalgamation, Consolidation or Sale of All or Substantially All Assets);

 

  (ii) The failure to comply with the terms of any of the Sections of the Indenture set forth in clause (i) above shall no longer constitute a Default or an Event of Default under the Indenture and shall no longer have any other consequence under the Indenture;

 

  (iii) Section 6.01(a) (Events of Default) of the Indenture is hereby amended to delete paragraphs (4), (5) and (8) in their entirety and all references thereto contained in Section 6.01 and elsewhere in the Indenture in their entirety, and the occurrence of the events described in paragraphs (4), (5), and (8) of Section 6.01(a) shall no longer constitute Events of Default;

 

  (iv) All definitions set forth in Sections 1.01 and 1.02 of the Indenture that relate to defined terms used solely in sections deleted by this Supplemental Indenture are hereby deleted in their entirety;

 

  (v) All references to Sections of the Indenture amended by this Supplemental Indenture shall mean such Sections as amended by this Supplemental Indenture; and

 

  (vi) All references to Sections of the Indenture deleted pursuant to this Supplemental Indenture are hereby deleted in their entirety.


ARTICLE II

MISCELLANEOUS

Section 2.1 Ratification of Indenture; Supplemental Indenture Part of Indenture; Operative Date.

 

  (i) Except as expressly supplemented hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of the Securities heretofore or hereafter authenticated and delivered shall be bound hereby. In the event of a conflict between the terms and conditions of the Indenture and the terms and conditions of this Supplemental Indenture, then the terms and conditions of this Supplemental Indenture shall prevail.

 

  (ii) The Notes include certain of the foregoing provisions from the Indenture. Upon the operative date of this Supplemental Indenture, such provisions from the Notes shall be deemed deleted or amended as applicable.

 

  (iii) Notwithstanding an earlier execution date, the provisions of this Supplemental Indenture shall not become operative until the time and date upon which the Issuer delivers the New Notes (as such term is defined in the Offering Memorandum) to all holders who have validly delivered and not validly revoked Consents (as such term is defined in the Offering Memorandum) pursuant to the terms of the Offering Memorandum.

Section 2.2 Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

Section 2.3 Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

Section 2.4 Counterparts/Originals. 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.

Section 2.5 Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

Section 2.6 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 Issuer and the Guarantors. All rights, protections, privileges, indemnities and benefits granted or afforded to the Trustee under the Indenture shall be deemed incorporated herein by this reference and shall be deemed applicable to all actions taken, suffered or omitted by the Trustee under this Supplemental Indenture.


Section 2.7 Successors. All agreements of the Issuer and the Guarantors in this Supplemental Indenture shall bind its Successors. All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

Section 2.8 Validity; Enforceability. In case any provisions in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

[Signature Page Follows]


IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

 

THE BANK OF NEW YORK MELLON (formerly known as THE BANK OF NEW YORK), as Trustee
By:  

/s/ Raymond K. O’Neil

Name:   Raymond K. O’Neil
Title:   Senior Associate


 

REALOGY CORPORATION
By:  

/s/ Anthony E. Hull

Name:   Anthony E. Hull
Title:   Chief Financial Officer
DOMUS HOLDINGS CORP.
By:  

/s/ Anthony E. Hull

Name:   Anthony E. Hull
Title:   Chief Financial Officer


 

CARTUS CORPORATION
CDRE TM LLC
NRT INSURANCE AGENCY, INC.
REALOGY OPERATIONS LLC
REALOGY SERVICES GROUP LLC
REALOGY SERVICES VENTURE PARTNER LLC
SOTHEBY’S INTERNATIONAL REALTY LICENSEE LLC
WREM, INC.
By:  

/s/ Anthony E. Hull

Name:   Anthony E. Hull
Title:   Chief Financial Officer


 

CARTUS ASSET RECOVERY CORPORATION
CARTUS PARTNER CORPORATION
FEDSTATE STRATEGIC CONSULTING, INCORPORATED
LAKECREST TITLE, LLC
NRT PHILADELPHIA LLC
PRIMACY RELOCATION, LLC
By:  

/s/ Anthony E. Hull

Name:   Anthony E. Hull
Title:   Executive Vice President & Treasurer


 

AMERICAN TITLE COMPANY OF HOUSTON
ATCOH HOLDING COMPANY
BURNET TITLE LLC
BURNET TITLE HOLDING LLC
BURROW ESCROW SERVICES, INC.
CORNERSTONE TITLE COMPANY
EQUITY TITLE COMPANY
EQUITY TITLE MESSENGER SERVICE HOLDING LLC
FIRST CALIFORNIA ESCROW CORPORATION
FRANCHISE SETTLEMENT SERVICES LLC
GUARDIAN HOLDING COMPANY
GUARDIAN TITLE AGENCY, LLC
GUARDIAN TITLE COMPANY
GULF SOUTH SETTLEMENT SERVICES, LLC
KEYSTONE CLOSING SERVICES LLC
MARKET STREET SETTLEMENT GROUP LLC
MID-ATLANTIC SETTLEMENT SERVICES LLC
NATIONAL COORDINATION ALLIANCE LLC
NRT SETTLEMENT SERVICES OF MISSOURI LLC
NRT SETTLEMENT SERVICES OF TEXAS LLC
PROCESSING SOLUTIONS LLC
SECURED LAND TRANSFERS LLC
ST. JOE TITLE SERVICES LLC
TAW HOLDING INC.
TEXAS AMERICAN TITLE COMPANY
TITLE RESOURCE GROUP AFFILIATES HOLDINGS LLC
TITLE RESOURCE GROUP HOLDINGS LLC
TITLE RESOURCE GROUP LLC
TITLE RESOURCE GROUP SERVICES LLC
TITLE RESOURCES INCORPORATED
TRG SERVICES, ESCROW, INC.
TRG SETTLEMENT SERVICES, LLP
WAYDAN TITLE, INC.
WEST COAST ESCROW COMPANY
By:  

/s/ Thomas N. Rispoli

Name:   Thomas N. Rispoli
Title:   Chief Financial Officer


 

BETTER HOMES AND GARDENS REAL ESTATE LLC
BETTER HOMES AND GARDENS REAL ESTATE LICENSEE LLC
CENTURY 21 REAL ESTATE LLC
CGRN, INC.
COLDWELL BANKER LLC
COLDWELL BANKER REAL ESTATE LLC
ERA FRANCHISE SYSTEMS LLC
GLOBAL CLIENT SOLUTIONS LLC
ONCOR INTERNATIONAL LLC
REALOGY FRANCHISE GROUP LLC
REALOGY GLOBAL SERVICES LLC
REALOGY LICENSING LLC
SOTHEBY’S INTERNATIONAL REALTY AFFILIATES LLC
WORLD REAL ESTATE MARKETING LLC
By:  

/s/ Andrew G. Napurano

Name:   Andrew G. Napurano
Title:   Chief Financial Officer


 

FSA MEMBERSHIP SERVICES, LLC
By:  

/s/ Marilyn J. Wasser

Name:   Marilyn J. Wasser
Title:   Executive Vice President

 

3


 

ALPHA REFERRAL NETWORK LLC
ASSOCIATED CLIENT REFERRAL LLC
BURGDORFF LLC
BURGDORFF REFERRAL ASSOCIATES LLC
BURNET REALTY LLC
CAREER DEVELOPMENT CENTER, LLC
COLDWELL BANKER COMMERCIAL PACIFIC PROPERTIES LLC
COLDWELL BANKER PACIFIC PROPERTIES LLC
COLDWELL BANKER REAL ESTATE SERVICES LLC
COLDWELL BANKER RESIDENTIAL BROKERAGE COMPANY
COLDWELL BANKER RESIDENTIAL BROKERAGE LLC
COLDWELL BANKER RESIDENTIAL REAL ESTATE LLC
COLDWELL BANKER RESIDENTIAL REFERRAL NETWORK
COLDWELL BANKER RESIDENTIAL REFERRAL NETWORK, INC.
COLORADO COMMERCIAL, LLC
HOME REFERRAL NETWORK LLC
JACK GAUGHEN LLC
NRT ARIZONA LLC
NRT ARIZONA COMMERCIAL LLC
NRT ARIZONA REFERRAL LLC
NRT COLORADO LLC
NRT COLUMBUS LLC
NRT COMMERCIAL LLC
NRT COMMERCIAL UTAH LLC
NRT DEVELOPMENT ADVISORS LLC
NRT DEVONSHIRE LLC
NRT HAWAII REFERRAL, LLC
NRT LLC
NRT MID-ATLANTIC LLC
By:  

/s/ Kevin R. Greene

Name:   Kevin R. Greene
Title:   Chief Financial Officer

 

4


 

NRT MISSOURI LLC
NRT MISSOURI REFERRAL NETWORK LLC
NRT NEW ENGLAND LLC
NRT NEW YORK LLC
NRT NORTHFORK LLC
NRT PITTSBURGH LLC
NRT REFERRAL NETWORK LLC
NRT RELOCATION LLC
NRT REOEXPERTS LLC
NRT SUNSHINE INC.
NRT TEXAS LLC
NRT UTAH LLC
REAL ESTATE REFERRAL LLC
REAL ESTATE REFERRALS LLC
REAL ESTATE SERVICES LLC
REFERRAL ASSOCIATES OF NEW ENGLAND LLC
REFERRAL NETWORK, LLC
REFERRAL NETWORK PLUS, INC.
SOTHEBY’S INTERNATIONAL REALTY, INC.
SOTHEBY’S INTERNATIONAL REALTY REFERRAL COMPANY, LLC
THE SUNSHINE GROUP (FLORIDA) LTD. CORP.
THE SUNSHINE GROUP, LTD.
VALLEY OF CALIFORNIA, INC.
By:  

/s/ Kevin R. Greene

Name:   Kevin R. Greene
Title:   Chief Financial Officer

 

5


Schedule I

GUARANTORS

 

Name of Entity

  

Jurisdiction

  

Type of Organization

I. California

     

Burrow Escrow Services, Inc.

   CA    corporation

Coldwell Banker Residential Brokerage Company

   CA    corporation

Coldwell Banker Residential Referral Network

   CA    corporation

Cornerstone Title Company

   CA    corporation

Equity Title Company

   CA    corporation

Guardian Title Company

   CA    corporation

Referral Network Plus, Inc.

   CA    corporation

Valley of California, Inc.

   CA    corporation

West Coast Escrow Company

   CA    corporation

Coldwell Banker Real Estate LLC

   CA    limited liability company

Coldwell Banker Residential Real Estate LLC

   CA    limited liability company

National Coordination Alliance LLC

   CA    limited liability company

Realogy Operations LLC

   CA    limited liability company

II. Delaware

     

Cartus Asset Recovery Corporation

   DE    corporation

Cartus Corporation

   DE    corporation

Cartus Partner Corporation

   DE    corporation

CGRN, Inc.

   DE    corporation

Domus Holdings Corp.

   DE    corporation

FedState Strategic Consulting, Incorporated

   DE    corporation

First California Escrow Corporation

   DE    corporation

Guardian Holding Company

   DE    corporation

NRT Sunshine Inc.

   DE    corporation

Title Resources Incorporated

   DE    corporation

TRG Services, Escrow, Inc.

   DE    corporation

WREM, Inc.

   DE    corporation

Associated Client Referral LLC

   DE    limited liability company

Better Homes and Gardens Real Estate Licensee LLC

   DE    limited liability company

Better Homes and Gardens Real Estate LLC

   DE    limited liability company

Burgdorff LLC

   DE    limited liability company

Burgdorff Referral Associates LLC

   DE    limited liability company

Career Development Center, LLC

   DE    limited liability company

CDRE TM LLC

   DE    limited liability company

Century 21 Real Estate LLC

   DE    limited liability company

Coldwell Banker LLC

   DE    limited liability company

Coldwell Banker Real Estate Services LLC

   DE    limited liability company

 

I-1


 

Name of Entity

  

Jurisdiction

  

Type of Organization

Coldwell Banker Residential Brokerage LLC

   DE    limited liability company

Equity Title Messenger Service Holding LLC

   DE    limited liability company

ERA Franchise Systems LLC

   DE    limited liability company

Franchise Settlement Services LLC

   DE    limited liability company

FSA Membership Services, LLC

   DE    limited liability company

Global Client Solutions LLC

   DE    limited liability company

Gulf South Settlement Services, LLC

   DE    limited liability company

Jack Gaughen LLC

   DE    limited liability company

Keystone Closing Services LLC

   DE    limited liability company

NRT Arizona Commercial LLC

   DE    limited liability company

NRT Arizona LLC

   DE    limited liability company

NRT Arizona Referral LLC

   DE    limited liability company

NRT Columbus LLC

   DE    limited liability company

NRT Commercial LLC

   DE    limited liability company

NRT Commercial Utah LLC

   DE    limited liability company

NRT Development Advisors LLC

   DE    limited liability company

NRT Devonshire LLC

   DE    limited liability company

NRT Hawaii Referral, LLC

   DE    limited liability company

NRT LLC

   DE    limited liability company

NRT Mid-Atlantic LLC

   DE    limited liability company

NRT Missouri LLC

   DE    limited liability company

NRT Missouri Referral Network LLC

   DE    limited liability company

NRT New England LLC

   DE    limited liability company

NRT New York LLC

   DE    limited liability company

NRT Northfork LLC

   DE    limited liability company

NRT Philadelphia LLC

   DE    limited liability company

NRT Pittsburgh LLC

   DE    limited liability company

NRT Referral Network LLC

   DE    limited liability company

NRT Relocation LLC

   DE    limited liability company

NRT REOExperts LLC

   DE    limited liability company

NRT Settlement Services of Missouri LLC

   DE    limited liability company

NRT Settlement Services of Texas LLC

   DE    limited liability company

NRT Utah LLC

   DE    limited liability company

ONCOR International LLC

   DE    limited liability company

Real Estate Referral LLC

   DE    limited liability company

Real Estate Referrals LLC

   DE    limited liability company

Real Estate Services LLC

   DE    limited liability company

Realogy Franchise Group LLC

   DE    limited liability company

Realogy Global Services LLC

   DE    limited liability company

Realogy Licensing LLC

   DE    limited liability company

Realogy Services Group LLC

   DE    limited liability company

Realogy Services Venture Partner LLC

   DE    limited liability company

Secured Land Transfers LLC

   DE    limited liability company

Sotheby’s International Realty Affiliates LLC

   DE    limited liability company

 

I-2


 

Name of Entity

  

Jurisdiction

  

Type of Organization

Sotheby’s International Realty Licensee LLC

   DE    limited liability company

Sotheby’s International Realty Referral Company, LLC

   DE    limited liability company

Title Resource Group Affiliates Holdings LLC

   DE    limited liability company

Title Resource Group Holdings LLC

   DE    limited liability company

Title Resource Group LLC

   DE    limited liability company

Title Resource Group Services LLC

   DE    limited liability company

World Real Estate Marketing LLC

   DE    limited liability company

III. Massachusetts

     

NRT Insurance Agency, Inc.

   MA    corporation

Referral Associates of New England LLC

   MA    limited liability company

IV. New York

     

The Sunshine Group, Ltd.

   NY    corporation

V. Texas

     

American Title Company of Houston

   TX    corporation

ATCOH Holding Company

   TX    corporation

TAW Holding Inc.

   TX    corporation

Texas American Title Company

   TX    corporation

Waydan Title, Inc.

   TX    corporation

Alpha Referral Network LLC

   TX    limited liability company

NRT Texas LLC

   TX    limited liability company

Processing Solutions LLC

   TX    limited liability company

VI. Colorado

     

Colorado Commercial, LLC

   CO    limited liability company

Guardian Title Agency, LLC

   CO    limited liability company

NRT Colorado LLC

   CO    limited liability company

Referral Network, LLC

   CO    limited liability company

VII. Florida

     

St. Joe Title Services LLC

   FL    limited liability company

The Sunshine Group (Florida) Ltd. Corp.

   FL    corporation

VIII. Hawaii

     

Coldwell Banker Commercial Pacific Properties LLC

   Hawaii    limited liability company

Coldwell Banker Pacific Properties LLC

   Hawaii    limited liability company

IX. Maryland

     

Mid-Atlantic Settlement Services LLC

   MD    limited liability company

X. Michigan

     

Sotheby’s International Realty, Inc.

   MI    corporation

XI. Minnesota

     

Burnet Realty LLC

   MN    limited liability company

Burnet Title LLC

   MN    limited liability company

Burnet Title Holding LLC

   MN    limited liability company

Home Referral Network LLC

   MN    limited liability company

 

I-3


 

Name of Entity

  

Jurisdiction

  

Type of Organization

XII. New Hampshire

     

Market Street Settlement Group LLC

   NH    limited liability company

XIII. Pennsylvania

     

Coldwell Banker Residential Referral Network, Inc.

   PA    corporation

TRG Settlement Services, LLP

   PA    limited liability partnership

XIV. Tennessee

     

Lakecrest Title, LLC

   TN    limited liability company

Primacy Relocation, LLC

   TN    limited liability company

 

I-4