FIRST SUPPLEMENTAL INDENTURE
FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of December 21, 2020, among PBF Holding Company LLC, a Delaware limited liability company (the “Company”), PBF Finance Corporation, a Delaware corporation (“Finance Co.” and, together with the Company, the “Issuers”), the Guarantors, Wilmington Trust, National Association, as trustee (the “Trustee”), paying agent (the “Paying Agent”), registrar (the “Registrar”), transfer agent (the “Transfer Agent”), authenticating agent (the “Authenticating Agent”) and collateral agent (the “Notes Collateral Agent”).
WITNESSETH
WHEREAS, the Issuers have heretofore executed and delivered to the Trustee an indenture, dated as of May 13, 2020 (as amended or supplemented prior to the date hereof, the “Indenture”), pursuant to which the Issuers initially issued, on the date thereof, $1,000,000,000 aggregate principal amount of their 9.25% Senior Secured Notes due 2025 (the “Initial Notes”);
WHEREAS, Section 2.01 of the Indenture provides that Additional Notes may be created and issued from time to time by the Issuers (subject to their compliance with Sections 4.09 and 4.12 of the Indenture) and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to status, redemption or otherwise as the Initial Notes;
WHEREAS, pursuant to Section 2.01(d) of the Indenture, the Issuers are authorized to execute and deliver this Supplemental Indenture without notice to or consent of the Holders to provide for the issuance of Additional Notes in accordance with the limitations set forth in the Indenture; and
WHEREAS, the Issuers desire to execute and deliver this Supplemental Indenture for the purpose of issuing on the date hereof an additional $250,000,000 aggregate principal amount of 9.25% Senior Secured Notes due 2025 (the “Additional Notes” and, together with the Initial Notes, the “Notes”).
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Issuers and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:
l. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.
2. ADDITIONAL NOTES. As of the date hereof, the Issuers will issue under the Indenture, and the Trustee is directed to authenticate and deliver, the Additional Notes in an aggregate principal amount of $250,000,000, having terms substantially identical in all material respects to the Initial Notes, at an issue price of 100.25% plus accrued and unpaid interest from, and including November 15, 2020, to, but excluding, the date hereof. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes under the Indenture, including, without limitation, with respect to waivers, amendments, redemptions and offers to purchase. The Additional Notes will initially bear, in the case of Additional Notes sold under Rule 144A of the Securities Act, the CUSIP number of 69318F AK4 and the ISIN number of US69318FAK49 (which are the same as the Initial Notes sold under Rule 144A of the Securities Act), and, in the case of Additional Notes sold under Regulation S of the Securities Act, (i) until 40 days after the date hereof, the CUSIP number of U70453 AF9 and the ISIN number of USU70453AF92 (which are different from the Initial Notes sold under Regulation S under the Securities Act) and (ii) after the expiration of the 40th day and compliance with the procedures of the Depositary, thereafter, the CUSIP number of U70453 AE2 and the ISIN number of USU70453AE28 (which are the same as the Initial Notes sold under Regulation S under the Securities Act).
