EXHIBIT 4.3



EXECUTION VERSION



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SUNGARD DATA SYSTEMS, INC.



3.750% SENIOR NOTES DUE 2009

4.875% SENIOR NOTES DUE 2014



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INDENTURE



Dated as of January 15, 2004



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THE BANK OF NEW YORK,

as Trustee



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TABLE OF CONTENTS



|                                                         |  |                                                   |  |     
|-------------------------------------------------------- |  | ------------------------------------------------- |  | ----
|                                                         |  |                                                   |  | Page
|ARTICLE 1.    DEFINITIONS AND INCORPORATION BY REFERENCE |  | 1                                                
|                                                         |  |                                                  
|Section 1.01.                                            |  | Definitions                                       |  | 1   
|                                                         |  |                                                  
|Section 1.02.                                            |  | Other Definitions                                 |  | 7   
|                                                         |  |                                                  
|Section 1.03.                                            |  | Incorporation by Reference of Trust Indenture Act |  | 7   
|                                                         |  |                                                  
|Section 1.04.                                            |  | Rules of Construction                             |  | 7   
|                                                         | 
|ARTICLE 2.    THE NOTES                                  |  | 8                                                
|                                                         |  |                                                  
|Section 2.01.                                            |  | Form and Dating                                   |  | 8   
|                                                         |  |                                                  
|Section 2.02.                                            |  | Execution and Authentication                      |  | 9   
|                                                         |  |                                                  
|Section 2.03.                                            |  | Registrar and Paying Agent                        |  | 9   
|                                                         |  |                                                  
|Section 2.04.                                            |  | Paying Agent to Hold Money in Trust               |  | 10  
|                                                         |  |                                                  
|Section 2.05.                                            |  | Holder Lists                                      |  | 10  
|                                                         |  |                                                  
|Section 2.06.                                            |  | Transfer and Exchange                             |  | 10  
|                                                         |  |                                                  
|Section 2.07.                                            |  | Replacement Notes                                 |  | 20  
|                                                         |  |                                                  
|Section 2.08.                                            |  | Outstanding Notes                                 |  | 21  
|                                                         |  |                                                  
|Section 2.09.                                            |  | Treasury Notes                                    |  | 21  
|                                                         |  |                                                  
|Section 2.10.                                            |  | Temporary Notes                                   |  | 21  
|                                                         |  |                                                  
|Section 2.11.                                            |  | Cancellation                                      |  | 21  
|                                                         |  |                                                  
|Section 2.12.                                            |  | Payment of Interest; Defaulted Interest.          |  | 22  
|                                                         |  |                                                  
|Section 2.13.                                            |  | CUSIP or ISIN Numbers                             |  | 22  
|                                                         |  |                                                  
|Section 2.14.                                            |  | Additional Interest                               |  | 22  
|                                                         |  |                                                  
|Section 2.15.                                            |  | Issuance of Additional Notes                      |  | 22  
|                                                         |  |                                                  
|Section 2.16.                                            |  | Record Date                                       |  | 23  
|                                                         | 
|ARTICLE 3.    REDEMPTION AND PREPAYMENT                  |  | 23                                               
|                                                         |  |                                                  
|Section 3.01.                                            |  | Notices to Trustee                                |  | 23  
|                                                         |  |                                                  
|Section 3.02.                                            |  | Selection of Notes to Be Redeemed                 |  | 23  
|                                                         |  |                                                  
|Section 3.03.                                            |  | Notice of Redemption                              |  | 23  
|                                                         |  |                                                  
|Section 3.04.                                            |  | Effect of Notice of Redemption                    |  | 24  
|                                                         |  |                                                  
|Section 3.05.                                            |  | Deposit of Redemption Price                       |  | 24  
|                                                         |  |                                                  
|Section 3.06.                                            |  | Notes Redeemed in Part                            |  | 25  
|                                                         |  |                                                  
|Section 3.07.                                            |  | Optional Redemption                               |  | 25  
|                                                         |  |                                                  
|Section 3.08.                                            |  | Mandatory Redemption                              |  | 25  
|                                                         | 
|ARTICLE 4.    COVENANTS                                  |  | 25                                               
|                                                         |  |                                                  
|Section 4.01.                                            |  | Payment of Notes                                  |  | 25  
|                                                         |  |                                                  
|Section 4.02.                                            |  | Maintenance of Office or Agency                   |  | 26  



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TABLE OF CONTENTS

(continued)



|                                                       |  |                                                          |  |     
|------------------------------------------------------ |  | -------------------------------------------------------- |  | ----
|                                                       |  |                                                          |  | Page
|Section 4.03.                                          |  | Reports                                                  |  | 26  
|                                                       |  |                                                         
|Section 4.04.                                          |  | Compliance Certificate                                   |  | 26  
|                                                       |  |                                                         
|Section 4.05.                                          |  | Corporate Existence                                      |  | 27  
|                                                       |  |                                                         
|Section 4.06.                                          |  | Liens                                                    |  | 27  
|                                                       |  |                                                         
|Section 4.07.                                          |  | Payment of Taxes                                         |  | 28  
|                                                       | 
|ARTICLE 5.    SUCCESSORS                               |  | 29                                                      
|                                                       |  |                                                         
|Section 5.01.                                          |  | Merger, Consolidation and Sale of Assets                 |  | 29  
|                                                       |  |                                                         
|Section 5.02.                                          |  | Successor Corporation Substituted                        |  | 29  
|                                                       | 
|ARTICLE 6.    DEFAULTS AND REMEDIES                    |  | 30                                                      
|                                                       |  |                                                         
|Section 6.01.                                          |  | Events of Default                                        |  | 30  
|                                                       |  |                                                         
|Section 6.02.                                          |  | Acceleration                                             |  | 31  
|                                                       |  |                                                         
|Section 6.03.                                          |  | Other Remedies                                           |  | 31  
|                                                       |  |                                                         
|Section 6.04.                                          |  | Waiver of Defaults                                       |  | 32  
|                                                       |  |                                                         
|Section 6.05.                                          |  | Control by Majority                                      |  | 32  
|                                                       |  |                                                         
|Section 6.06.                                          |  | Limitation on Suits                                      |  | 32  
|                                                       |  |                                                         
|Section 6.07.                                          |  | Rights of Holders to Receive Payment                     |  | 32  
|                                                       |  |                                                         
|Section 6.08.                                          |  | Collection Suit by Trustee                               |  | 33  
|                                                       |  |                                                         
|Section 6.09.                                          |  | Trustee May File Proofs of Claim                         |  | 33  
|                                                       |  |                                                         
|Section 6.10.                                          |  | Priorities                                               |  | 33  
|                                                       |  |                                                         
|Section 6.11.                                          |  | Undertaking for Costs                                    |  | 33  
|                                                       | 
|ARTICLE 7.    TRUSTEE                                  |  | 34                                                      
|                                                       |  |                                                         
|Section 7.01.                                          |  | Duties of Trustee                                        |  | 34  
|                                                       |  |                                                         
|Section 7.02.                                          |  | Rights of Trustee                                        |  | 35  
|                                                       |  |                                                         
|Section 7.03.                                          |  | Individual Rights of Trustee                             |  | 35  
|                                                       |  |                                                         
|Section 7.04.                                          |  | Trustees Disclaimer                                     |  | 36  
|                                                       |  |                                                         
|Section 7.05.                                          |  | Notice of Defaults                                       |  | 36  
|                                                       |  |                                                         
|Section 7.06.                                          |  | Reports by Trustee to Holders                            |  | 36  
|                                                       |  |                                                         
|Section 7.07.                                          |  | Compensation and Indemnity                               |  | 36  
|                                                       |  |                                                         
|Section 7.08.                                          |  | Replacement of Trustee                                   |  | 37  
|                                                       |  |                                                         
|Section 7.09.                                          |  | Successor Trustee by Merger, etc.                        |  | 38  
|                                                       |  |                                                         
|Section 7.10.                                          |  | Eligibility; Disqualification                            |  | 38  
|                                                       |  |                                                         
|Section 7.11.                                          |  | Preferential Collection of Claims Against Company        |  | 38  
|                                                       | 
|ARTICLE 8.    LEGAL DEFEASANCE AND COVENANT DEFEASANCE |  | 38                                                      
|                                                       |  |                                                         
|Section 8.01.                                          |  | Option to Effect Legal Defeasance or Covenant Defeasance |  | 38  



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TABLE OF CONTENTS

(continued)



|                                               |  |                                                                                                   |  |     
|---------------------------------------------- |  | ------------------------------------------------------------------------------------------------- |  | ----
|                                               |  |                                                                                                   |  | Page
|Section 8.02.                                  |  | Legal Defeasance and Discharge                                                                    |  | 39  
|                                               |  |                                                                                                  
|Section 8.03.                                  |  | Covenant Defeasance                                                                               |  | 39  
|                                               |  |                                                                                                  
|Section 8.04.                                  |  | Conditions to Legal or Covenant Defeasance                                                        |  | 39  
|                                               |  |                                                                                                  
|Section 8.05.                                  |  | Deposited Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions |  | 40  
|                                               |  |                                                                                                  
|Section 8.06.                                  |  | Repayment to Company                                                                              |  | 41  
|                                               |  |                                                                                                  
|Section 8.07.                                  |  | Reinstatement                                                                                     |  | 41  
|                                               | 
|ARTICLE 9.    AMENDMENT, SUPPLEMENT AND WAIVER |  | 41                                                                                               
|                                               |  |                                                                                                  
|Section 9.01.                                  |  | Without Consent of Holders                                                                        |  | 41  
|                                               |  |                                                                                                  
|Section 9.02.                                  |  | With Consent of Holders                                                                           |  | 42  
|                                               |  |                                                                                                  
|Section 9.03.                                  |  | Compliance with Trust Indenture Act                                                               |  | 43  
|                                               |  |                                                                                                  
|Section 9.04.                                  |  | Revocation and Effect of Consents                                                                 |  | 43  
|                                               |  |                                                                                                  
|Section 9.05.                                  |  | Notation on or Exchange of Notes                                                                  |  | 43  
|                                               |  |                                                                                                  
|Section 9.06.                                  |  | Trustee to Sign Amendments, etc.                                                                  |  | 43  
|                                               | 
|ARTICLE 10.    SATISFACTION AND DISCHARGE      |  | 44                                                                                               
|                                               |  |                                                                                                  
|Section 10.01.                                 |  | Satisfaction and Discharge                                                                        |  | 44  
|                                               |  |                                                                                                  
|Section 10.02.                                 |  | Deposited Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions |  | 44  
|                                               |  |                                                                                                  
|Section 10.03.                                 |  | Repayment to Company                                                                              |  | 44  
|                                               | 
|ARTICLE 11.    MISCELLANEOUS                   |  | 45                                                                                               
|                                               |  |                                                                                                  
|Section 11.01.                                 |  | Trust Indenture Act Controls                                                                      |  | 45  
|                                               |  |                                                                                                  
|Section 11.02.                                 |  | Notices                                                                                           |  | 45  
|                                               |  |                                                                                                  
|Section 11.03.                                 |  | Communication by Holders with Other Holders                                                       |  | 46  
|                                               |  |                                                                                                  
|Section 11.04.                                 |  | Certificate and Opinion as to Conditions Precedent                                                |  | 46  
|                                               |  |                                                                                                  
|Section 11.05.                                 |  | Statements Required in Certificate or Opinion                                                     |  | 46  
|                                               |  |                                                                                                  
|Section 11.06.                                 |  | Rules by Trustee and Agents                                                                       |  | 47  
|                                               |  |                                                                                                  
|Section 11.07.                                 |  | No Personal Liability of Directors, Officers, Employees and Stockholders                          |  | 47  
|                                               |  |                                                                                                  
|Section 11.08.                                 |  | Governing Law                                                                                     |  | 47  
|                                               |  |                                                                                                  
|Section 11.09.                                 |  | No Adverse Interpretation of Other Agreements                                                     |  | 47  
|                                               |  |                                                                                                  
|Section 11.10.                                 |  | Successors                                                                                        |  | 47  
|                                               |  |                                                                                                  
|Section 11.11.                                 |  | Severability                                                                                      |  | 47  
|                                               |  |                                                                                                  
|Section 11.12.                                 |  | Counterpart Originals                                                                             |  | 47  
|                                               |  |                                                                                                  
|Section 11.13.                                 |  | Table of Contents, Headings, etc.                                                                 |  | 48  
|                                               |  |                                                                                                  
|Section 11.14.                                 |  | Qualification of this Indenture.                                                                  |  | 48  



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CROSS-REFERENCE TABLE



[TO BE VERIFIED]



|                       |  |                  
|---------------------- |  | -----------------
|TIA Section Reference  |  | Indenture Section
|310(a)(1)              |  | 7.10             
|(a)(2)                 |  | 7.10             
|(a)(3)                 |  | N.A.             
|(a)(4)                 |  | N.A.             
|(a)(5)                 |  | 7.10             
|(b)                    |  | 7.08, 7.10       
|(c)                    |  | N.A.             
|311(a)                 |  | 7.11             
|(b)                    |  | 7.11             
|(c)                    |  | N.A.             
|312(a)                 |  | 2.05             
|(b)                    |  | 11.03            
|(c)                    |  | 11.03            
|313(a)                 |  | 7.06             
|(b)(1)                 |  | N.A.             
|(b)(2)                 |  | 7.06, 7.07       
|(c)                    |  | 7.06, 11.02      
|(d)                    |  | 7.06             
|314(a)                 |  | 4.03, 4.04, 11.02
|(b)                    |  | N.A.             
|(c)(1)                 |  | 11.04            
|(c)(2)                 |  | 11.04            
|(c)(3)                 |  | N.A.             
|(d)                    |  | N.A.             
|(e)                    |  | 11.05            
|315(a)                 |  | 7.01             
|(b)                    |  | 7.05, 11.02      
|(c)                    |  | 7.01             
|(d)                    |  | 7.01             
|(e)                    |  | 6.11             
|316(a) (last sentence) |  | 2.09             
|(a)(1)(A)              |  | 6.05             
|(a)(1)(B)              |  | 6.04             
|(a)(2)                 |  | N.A.             
|(b)                    |  | 6.07             
|317(a)(1)              |  | 6.08             
|(a)(2)                 |  | 6.09             
|(b)                    |  | 2.04             
|318(a)                 |  | 11.01            



N.A. means Not
Applicable.



Note: This Cross-Reference Table shall not, for
any purpose, be deemed to be part of this Indenture.



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This INDENTURE dated as of January 15, 2004, is by and between SunGard Data Systems Inc., a Delaware
corporation, and The Bank of New York, as trustee (the Trustee).



RECITALS



The Company
and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the 3.750% Senior Notes due 2009 (the 2009 Notes) and the 4.875% Senior Notes due 2014 (the
2014 Notes and together with the 2009 Notes, the Notes) issued under this Indenture:



ARTICLE 1.



DEFINITIONS AND INCORPORATION BY REFERENCE



|Section | 1.01. Definitions
|------- | -----------------



For all purposes of this Indenture, except as otherwise expressly provided or unless the context otherwise requires:



144A Global Note means a Global Note in the form of
Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with and registered in the name of the Depositary or its nominee issued in a denomination equal to the outstanding principal amount of the Notes sold for
initial resale in reliance on Rule 144A.



Additional
Interest has the meaning set forth in a Registration Rights Agreement relating to amounts to be paid in the event the Company fails to satisfy certain conditions set forth herein. For all purposes of this Indenture, the term
interest shall include Additional Interest, if any, with respect to the Notes.



Additional Notes means any Notes (other than Initial Notes, Exchange Notes and Notes issued under Sections 2.06, 2.07, 2.10 and 3.06 hereof) issued under this Indenture in accordance with Sections
2.02 and 2.15 hereof, as part of the same series as the Initial Notes or as an additional series.



Affiliate shall have the meaning set forth in Rule 405 under the Securities Act.



Agent means any Registrar, co-registrar, Paying Agent or
additional paying agent.



Applicable
Procedures means, with respect to any transfer, redemption or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and Clearstream that apply to such transfer, redemption or
exchange.



Bankruptcy Law means Title 11,
U.S. Code or any similar federal or state law for the relief of debtors, or the law of any other jurisdiction relating to bankruptcy, insolvency, winding up, liquidation, reorganization or relief of debtors.



Board of Directors means (1) in respect of a corporation,
the board of directors of the corporation, or any duly authorized committee thereof; and (2) in respect of any other Person, the board or committee of that Person serving an equivalent function.



Board Resolution of a Person means a copy of a resolution
certified by the secretary or an assistant secretary (or individual performing comparable duties) of the applicable Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such
certification, and delivered to the Trustee.



Business
Day means any day other than a Legal Holiday.



Clearstream means Clearstream Banking S.A. and any successor thereto.



1



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Code means the U.S. Internal Revenue Code of 1986, as amended.



Commission means the Securities and Exchange Commission.



Company means SunGard Data Systems Inc.,
and any successor thereto.



Comparable Treasury
Issue means the United States Treasury security or securities selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term of the notes being redeemed that would be utilized, at
the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of a comparable maturity to the remaining term of the applicable series of notes.



Comparable Treasury Price means, with respect to any
redemption date (1) the average of three Reference Treasury Dealer Quotations for the redemption date, after excluding the highest and lowest such Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four Reference Treasury
Dealer Quotations, the average of all Reference Treasury Dealer Quotations for the redemption date so obtained.



Consolidated Stockholders Equity means the total stockholders equity of the Company and its Subsidiaries, determined on a
consolidated basis in accordance with GAAP, as of the end of the most recently completed fiscal quarter of the Company for which financial information is filed with the Commission under the Exchange Act.



Corporate Trust Office of the Trustee shall be the
principal office of the Trustee at which at any time its corporate trust business shall be administered, which office at the date hereof is located at 101 Barclay Street, Floor 8W, New York, New York 10286, Attention: Corporate Trust Administration,
or such other address as the Trustee may designate from time to time by notice to the Holders and the Company, or the principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time
to time by notice to the Holders and the Company).



Custodian means, with respect to the Notes issuable or issued in whole or in part in global form, the Person specified in Section 2.03(c) as Custodian with respect to the Notes, and any and all successors thereto
appointed as custodian hereunder and having become such pursuant to the applicable provisions of this Indenture.



Debt of any Person means (1) any liability of such Person (a) for borrowed money, (b) evidenced by a bond, note, debenture or similar
instrument, (c) for the payment of money relating to a lease that is required to be classified as a capitalized lease obligation of such Person in accordance with generally accepted accounting principles, (d) preferred or preference stock of a
Subsidiary of such Person held by one or more Persons other than such Person or a Subsidiary of such Person, or (e) with respect to letters of credit, bankers acceptances or similar facilities issued for the account of such Person, (2) any
liability of others described in the preceding clause (1) that such Person has guaranteed, that is recourse to such Person or that is otherwise its legal liability and (3) any amendment, supplement, modification, deferral, renewal, extension or
refunding of any liability of the types referred to in clauses (1) and (2) above.



Default means any event which is, or after notice or passage of time or both would be, an Event of Default.



Definitive Note means a certificated Note registered in the name of the Holder thereof and issued in accordance with Section 2.06 or
2.10 hereof, in substantially the form of Exhibit A hereto except that such Note shall not bear the Global Note Legend and shall not have the Schedule of Exchanges of Interests in the Global Note attached thereto.



Depositary means, with respect to the Notes issuable or
issued in whole or in part in global form, the Person specified in Section 2.03(b) hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the
applicable provisions of this Indenture.



2



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Distribution Compliance Period means the 40-day distribution compliance period as
defined in Regulation S.



Euroclear means
Euroclear Bank, S.A./N.V., as operator of the Euroclear systems, and any successor thereto.



Exchange Act means the Securities Exchange Act of 1934, as amended.



Exchange Notes means notes issued in exchange for the Initial Notes or any Additional Notes pursuant to a Registration Rights
Agreement.



Exchange Offer has the meaning
set forth in a Registration Rights Agreement relating to an exchange of Notes registered under the Securities Act for Notes not so registered.



Exchange Offer Registration Statement has the meaning set forth in a Registration Rights Agreement.



GAAP means generally accepted accounting principles in the
United States of America, including those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or in such other statements by such other entity as approved by a significant segment of the accounting profession as may from time to time be in effect.



Global Note Legend means the legend set forth in Section 2.06(g)(ii), which is required to be placed on
all Global Notes issued under this Indenture.



Global
Notes means the global Notes in the form of Exhibit A hereto issued in accordance with Article 2 hereof.



Government means the government of the United States of America and any department, agency or political subdivision thereof and the
government of any foreign country with which the Company or any of its Subsidiaries is permitted to do business under applicable law and any department, agency or political subdivision thereof.



guarantee means a guarantee (other than by endorsement of
negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof),
of all or any part of any Debt. The term guarantee used as a verb has a corresponding meaning.



Holder means a Person in whose name a Note is registered in the Security Register.



IAI Global Note means a Global Note in the form of Exhibit
A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with and registered in the name of the Depositary or its nominee issued in a denomination equal to the outstanding principal amount of the Notes sold to
Institutional Accredited Investors, if any, to the extent required by the Applicable Procedures.



Indenture means this instrument, as originally executed or as it may from time to time be supplemented or amended in accordance with
Article 9 hereof.



Independent Investment
Banker means one of the Reference Treasury Dealers appointed by the Trustee after consultation with the Company.



Indirect Participant means a Person who holds a beneficial interest in a Global Note through a Participant.



3



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Initial Notes means $500,000,000 aggregate principal amount of Notes issued under this
Indenture on the date hereof.



Institutional
Accredited Investor means an institution that is an accredited investor as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act.



Interest Payment Dates shall have the meaning set forth in paragraph 1 of each Note.



Issue Date means January 15, 2004.



Legal Holiday means a Saturday, a Sunday or a day on which
banking institutions in the City of New York, the city in which the Corporate Trust Office of the Trustee is located or any other place of payment on the Notes are authorized by law, regulation or executive order to remain closed.



Letter of Transmittal means the letter of transmittal, or
its electronic equivalent in accordance with the Applicable Procedures, to be prepared by the Company and sent to all Holders of the Initial Notes or any Additional Notes for use by such Holders in connection with an Exchange Offer.



Lien means, with respect to any properties or assets, any
mortgage or deed of trust, pledge, hypothecation, assignment, security interest, lien, encumbrance or other security arrangement of any kind or nature whatsoever on or with respect to such properties or assets (including any conditional sale or
other title retention agreement having substantially the same economic effect as any of the foregoing).



Obligations means all obligations for principal, premium, interest, penalties, fees, indemnifications, reimbursements, damages and
other liabilities payable under the documentation governing any Debt.



Officer means the Chief Executive Officer, the President, the Chief Financial Officer or any Executive Vice President of the Company.



Officers Certificate means a certificate, in form and substance reasonably satisfactory to the
Trustee, signed by two Officers of the Company, at least one of whom shall be the principal executive officer, principal accounting officer or principal financial officer of the Company, and delivered to the Trustee.



Opinion of Counsel means a written opinion, in form and
substance reasonably satisfactory to the Trustee, from legal counsel who is acceptable to the Trustee and which meets the requirements of Section 11.05 hereof. The counsel may be an employee of or counsel to the Company.



Participant means, with respect to the Depositary,
Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively, and, with respect to DTC, shall include Euroclear and Clearstream.



Person means any individual, corporation, company (including any limited liability company), association,
partnership, joint venture, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity.



Predecessor Note of any particular Note means every previous Note evidencing all or a portion of the same Debt as that evidenced by
such particular Note; and any Note authenticated and delivered under Section 2.07 in lieu of a lost, destroyed or stolen Note shall be deemed to evidence the same Debt as the lost, destroyed or stolen Note.



Principal Facility means any of the real property,
fixtures, machinery and equipment relating to any facility owned by the Company or any Subsidiary of the Company except for any facility that, in the opinion of the Board of Directors, is not of material importance to the business conducted by the
Company and its Subsidiaries taken as a whole.



4



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Private Placement Legend means the legend set forth in Section 2.06(g)(i) hereof to be
placed on all Notes issued under this Indenture except as otherwise permitted by the provisions of this Indenture



QIB means a qualified institutional buyer as defined in Rule 144A.



Reference Treasury Dealer means each of Citigroup Global
Markets Inc. or J.P. Morgan Securities or their affiliates that are primary U.S. government securities dealers, and their respective successors. However, if any of these Reference Treasury Dealers cease to be a primary U.S. government securities
dealer in The City of New York, then the Company will substitute another primary U.S. government securities dealer.



Reference Treasury Dealer Quotations means, with respect to each Reference Treasury Dealer and any redemption date, the average, as
determined by the Company, of the bid and asked prices for the Comparable Treasury Issue, expressed in each case as a percentage of its principal amount, quoted in writing to the Trustee by such Reference Treasury Dealer at approximately 3:30 p.m.,
New York City time, on the third Business Day preceding such redemption date.



Registration Rights Agreement means the Registration Rights Agreement dated as of the Issue Date, between the Company and the initial purchasers named therein, as such agreement may be amended,
modified or supplemented from time to time and, with respect to any Additional Notes, one or more registration rights agreements between the Company and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from
time to time, relating to rights given by the Company to the purchasers of Additional Notes to register such Additional Notes, or exchange such Additional Notes for registered Notes, under the Securities Act.



Regular Record Date for the interest payable on any
Interest Payment Date means the applicable date specified as a Record Date on the face of the Note.



Regulation S means Regulation S promulgated under the Securities Act.



Regulation S Global Note means a permanent Global Note in the form of Exhibit A hereto bearing the Global
Note Legend and the Private Placement Legend and deposited with and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes sold for initial resale in reliance on Rule
903 of Regulation S.



Responsible Officer,
when used with respect to the Trustee, means any officer within the corporate trust department of the Trustee (or any successor group of the Trustee) with direct responsibility for the administration of this Indenture and also means, with respect to
a particular corporate trust matter, any other officer to whom such matter is referred because of his or her knowledge of and familiarity with the particular subject.



Restricted Definitive Note means one or more Definitive Notes bearing the Private Placement Legend.



Restricted Global Notes means 144A Global
Notes, IAI Global Notes and Regulation S Global Notes.



Rule 144 means Rule 144 promulgated under the Securities Act.



Rule 144A means Rule 144A promulgated under the Securities Act.



Rule 903 means Rule 903 promulgated under the Securities Act.



Rule 904 means Rule 904 promulgated under the Securities Act.



Securities Act means the Securities Act of 1933, as
amended.



5



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Shelf Registration Statement means the registration statement relating to the
registration of the Notes under Rule 415 of the Securities Act, as may be set forth in a Registration Rights Agreement.



Significant Subsidiary means any Restricted Subsidiary that would be a significant subsidiary of the Company within the
meaning of Rule 1-02 under Regulation S-X promulgated by the Commission.



Stated Maturity means, with respect to any installment of interest or principal on any series of Debt (including, without limitation, a scheduled repayment or a scheduled sinking fund payment), the
date on which the payment of interest or principal was scheduled to be paid in the original documentation governing such Debt, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the
date originally scheduled for the payment hereof.



Subsidiary of any person means (i) any corporation, association or other business entity of which more than 50% of the total voting power of shares of capital stock or other equity interests entitled (without regard to
the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other subsidiaries of such person (or a
combination thereof), (ii) any partnership, limited liability company or similar pass-through entity the sole general partner or the managing general partner or managing member of which is such person or a subsidiary of such person and (iii) any
partnership, limited liability company or similar pass-through entity the only general partners, managing members or persons, however designated in corresponding roles, of which are such person or one or more subsidiaries of such person (or any
combination thereof).



TIA means the Trust
Indenture Act of 1939, as amended, and the rules and regulations thereunder.



Treasury Rate means, with respect to any redemption date, the rate per year equal to the semi-annual equivalent yield to maturity or interpolated (on a day count basis) of the comparable treasury
issue, assuming a price for the comparable treasury issue (expressed as a percentage of its principal amount) equal to the comparable treasury price for such redemption date.



Trustee means the Person named as the Trustee in the first paragraph of this instrument until
a successor Trustee shall have become such pursuant to the applicable provisions of this Indenture, and thereafter Trustee shall mean such successor Trustee.



Unrestricted Definitive Notes means one or more Definitive Notes that do not and are not required to bear
the Private Placement Legend.



Unrestricted Global
Notes means one or more Global Notes that do not and are not required to bear the Private Placement Legend and are deposited with and registered in the name of the Depositary or its nominee.



U.S. Government Securities means direct obligations (or
certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and
which are not callable or redeemable at the issuers option.



Wholly-Owned Subsidiary of any person means (i) any corporation, association or other business entity of which 100% of the total voting power of shares of capital stock or other equity interests entitled (without regard
to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by such person or one or more of the other subsidiaries of such person (or a
combination thereof) and (ii) any partnership, limited liability company or similar pass-through entity the sole partners, members or persons, however designated in corresponding roles, of which are such person or one or more subsidiaries of such
person (or any combination thereof).



6



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Section 1.02. Other Definitions.



|                       |  |                   
|---------------------- |  | ------------------
|Term                   |  | Defined in Section
|Acceleration Notice  |  | 6.02              
|Authentication Order |  | 2.02              
|Benefited Party      |  | 10.01             
|Covenant Defeasance  |  | 8.03              
|DTC                  |  | 2.03              
|Event of Default     |  | 6.01              
|Legal Defeasance     |  | 8.02              
|losses               |  | 7.07              
|Notes                |  | Preamble          
|Paying Agent         |  | 2.03              
|Registrar            |  | 2.03              
|Security Register    |  | 2.03              



|Section | 1.03. Incorporation by Reference of Trust Indenture Act.
|------- | --------------------------------------------------------



(a) Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.



(b) The following TIA terms used in this Indenture have the
following meanings:



indenture securities
means the Notes;



indenture security holder
means a Holder of a Note;



indenture to be
qualified means this Indenture;



indenture
trustee or institutional trustee means the Trustee; and



obligor on the Notes means the Company and any successor obligor upon the Notes.



(c) All other terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by Commission rule under
the TIA and not otherwise defined herein have the meanings so assigned to them either in the TIA, by another statute or Commission rule, as applicable.



Section 1.04. Rules of Construction.



(a) Unless the context otherwise requires:



(i) a term has the meaning assigned to it;



(ii) an accounting term not otherwise defined herein has the meaning assigned to it in accordance with GAAP;



(iii) or is not exclusive;



(iv) words in the singular include the
plural, and in the plural include the singular;



(v) all references in this instrument to Articles, Sections and other subdivisions are to the designated Articles, Sections and subdivisions of this instrument as originally executed;



7



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(vi) the words herein, hereof and hereunder and other
words of similar import refer to this Indenture as a whole and not to any particular Article, Section or other subdivision.



(vii) including means including without limitation;



(viii) provisions apply to successive events and transactions; and



(ix) references to sections of or rules under the Securities
Act, the Exchange Act or the TIA shall be deemed to include substitute, replacement or successor sections or rules adopted by the Commission from time to time thereunder.



ARTICLE 2.



THE NOTES



|Section | 2.01. Form and Dating.
|------- | ----------------------



(a) General. The Notes and the Trustees certificate of authentication shall be substantially in the form included in Exhibit A hereto,
which is hereby incorporated in and expressly made part of this Indenture. The Notes may have notations, legends or endorsements required by law, exchange rule or usage in addition to those set forth on Exhibit A. Each Note shall be dated the date
of its authentication. The Notes shall be in denominations of $1,000 and integral multiples thereof. The terms and provisions contained in the Notes shall constitute a part of this Indenture and the Company and the Trustee, by their execution and
delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. To the extent any provision of any Note conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be
controlling.



(b) Form of Notes. Notes shall be
issued initially in global form and shall be substantially in the form of Exhibit A attached hereto (including the Global Note Legend thereon and the Schedule of Exchanges of Interests in the Global Note attached thereto). Notes issued
in definitive form shall be substantially in the form of Exhibit A attached hereto (but without the Global Note Legend thereon and without the Schedule of Exchanges of Interests in the Global Note attached thereto). Each Global Note
shall represent such aggregate principal amount of the outstanding Notes as shall be specified therein and each shall provide that it shall represent the aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the
aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions and transfers of interests therein. Any endorsement of a Global Note to reflect
the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given by the Holder
thereof as required by Section 2.06 hereof.



(c)
Book-Entry Provisions. This Section 2.01(c) shall apply only to Global Notes deposited with the Trustee, as Custodian for the Depositary. Participants and Indirect Participants shall have no rights under this Indenture or any Global
Note with respect to any Global Note held on their behalf by the Depositary or by the Trustee as custodian for the Depositary, and the Depositary shall be treated by the Company, the Trustee and any agent of the Company or the Trustee as the
absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or
other authorization furnished by the Depositary or impair, as between the Depositary and its Participants or Indirect Participants, the Applicable Procedures or the operation of customary practices of the Depositary governing the exercise of the
rights of a holder of a beneficial interest in any Global Note.



(d) Euroclear and Clearstream Procedures Applicable. The provisions of the Operating Procedures of the Euroclear System and Terms and Conditions Governing Use of Euroclear and the General Terms
and Conditions of Clearstream and Customer Handbook of Clearstream shall be applicable to transfers of beneficial interests in Global Notes that are held by Participants through Euroclear or Clearstream.



8



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(e) Certificated Securities. The Company shall exchange Global Notes for Definitive Notes
if: (1) at any time the Depositary notifies the Company that it is unwilling or unable to continue to act as Depositary for the Global Notes or if at any time the Depositary shall no longer be eligible to act as such because it ceases to be a
clearing agency registered under the Exchange Act, and, in either case, the Company shall not have appointed a successor Depositary within 120 days after the Company receives such notice or becomes aware of such ineligibility, (2) the Company, at
its option, determines that the Global Notes shall be exchanged for Definitive Notes and delivers a written notice to such effect to the Trustee or (3) upon written request of a Holder or the Trustee if a Default or Event of Default shall have
occurred and be continuing.



Upon the occurrence of any of the
events set forth in clauses (1), (2) or (3) above, the Company shall execute, and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver, Definitive Notes, in authorized
denominations, in an aggregate principal amount equal to the principal amount of the Global Notes in exchange for such Global Notes.



Upon the exchange of a Global Note for Definitive Notes, such Global Note shall be cancelled by the Trustee or an agent of the Company or the Trustee.
Definitive Notes issued in exchange for a Global Note pursuant to this Section 2.01 shall be registered in such names and in such authorized denominations as the Depositary, pursuant to instructions from its Participants or its Applicable
Procedures, shall instruct the Trustee or an agent of the Company or the Trustee in writing. The Trustee or such agent shall deliver such Definitive Notes to or as directed by the Persons in whose names such Definitive Notes are so registered or to
the Depositary.



|Section | 2.02. Execution and Authentication.
|------- | -----------------------------------



(a) One Officer shall execute the Notes on behalf of the Company by manual or facsimile signature.



(b) If an Officer whose signature is on a Note no longer holds that office at
the time a Note is authenticated by the Trustee, the Note shall nevertheless be valid.



(c) A Note shall not be valid until authenticated by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture.



(d) The Trustee shall, upon a written order of the Company signed by an
Officer (an Authentication Order), authenticate Notes for issuance.



(e) The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. Unless otherwise provided in such appointment, an authenticating agent may authenticate Notes whenever the Trustee
may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent shall have the same rights as the Trustee to deal with Holders, the Company or an Affiliate of the Company.



|Section | 2.03. Registrar and Paying Agent.
|------- | ---------------------------------



(a) The Company shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(Registrar) and an office or agency where Notes may be presented for payment (Paying Agent). The Registrar shall keep a register (the Security Register) of the Notes and
of their transfer and exchange. The Company may appoint one or more co-registrars and one or more additional paying agents. The term Registrar includes any co-registrar and the term Paying Agent includes any additional paying
agent. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain
another entity as Registrar or Paying Agent, the Trustee shall act as such. The Company or any of its Subsidiaries may act as Paying Agent or Registrar.



(b) The Company initially appoints The Depository Trust Company (DTC) to act as Depositary with respect to the Global Notes.



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(c) The Company initially appoints the Trustee to act as Registrar and Paying Agent and to act as
Custodian with respect to the Global Notes, and the Trustee hereby agrees so to initially act.



|Section | 2.04. Paying Agent to Hold Money in Trust.
|------- | ------------------------------------------



The Company shall require each Paying Agent other than the Trustee to agree in writing that the Paying Agent shall hold in trust for the benefit of
Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and shall notify the Trustee of any default by the Company in making any such payment. While any such default
continues, the Trustee may require a Paying Agent to pay all funds held by it relating to the Notes to the Trustee. The Company at any time may require a Paying Agent to pay all funds held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than the Company or a Subsidiary) shall have no further liability for such funds. If the Company or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all
funds held by it as Paying Agent. Upon any Event of Default under Sections 6.01(e) and (f) hereof relating to the Company, the Trustee shall serve as Paying Agent for the Notes.



|Section | 2.05. Holder Lists.
|------- | -------------------



The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all
Holders and shall otherwise comply with TIA §312(a). If the Trustee is not the Registrar, the Company shall furnish or cause to be furnished to the Trustee at least seven Business Days before each Interest Payment Date and at such other times
as the Trustee may request in writing, a list in such form and as of such date or such shorter time as the Trustee may allow, as the Trustee may reasonably require of the names and addresses of the Holders and the Company shall otherwise comply with
TIA §312(a).



|Section | 2.06. Transfer and Exchange.
|------- | ----------------------------



(a) Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except by the Depositary to a nominee of the
Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. Upon the occurrence of any of the
events set forth in Section 2.01(e) above, Definitive Notes shall be issued in denominations of $1,000 or integral multiples thereof and in such names as the Depositary shall instruct the Trustee in writing. Global Notes also may be exchanged or
replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Except as provided above, every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or
Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a), and beneficial interests in a Global
Note may not be transferred and exchanged other than as provided in Section 2.06(b), (c) or (f) hereof.



(b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and exchange of beneficial interests in the Global Notes
shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those set
forth herein to the extent required by the Securities Act. Transfers of beneficial interests in Global Notes also shall require compliance with either clause (i) or (ii) below, as applicable, as well as one or more of the other following clauses, as
applicable:



(i) Transfer of Beneficial
Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer
restrictions set forth in the Private Placement Legend and any Applicable Procedures. Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Note. Except as may be required by any Applicable Procedures, no written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(i).



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(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In
connection with all transfers and exchanges of beneficial interests that are not subject to Section 2.06(b)(i) above, the transferor of such beneficial interest must deliver to the Registrar either (A)(1) a written order from a Participant or an
Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be
transferred or exchanged and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B)(1) if permitted under Section 2.06(a), a written order
from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or
exchanged and (2) instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (B)(1) above. Upon
consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(ii) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter
of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the
Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 2.06(h) hereof.



(iii) Transfer of Beneficial Interests in a Restricted Global Note to Another Restricted Global Note.
A holder of a beneficial interest in a Restricted Global Note may transfer such beneficial interest to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the
requirements of Section 2.06(b)(ii) above and the Registrar receives the following:



(A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver a
certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof or, if permitted by the Applicable Procedures, item (3) thereof;



(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and



(C) if the transferee is required by the Applicable Procedures to take delivery in the form of a beneficial interest in the IAI Global
Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications and certificates and Opinion of Counsel required by item (3) thereof, if applicable.



(iv) Transfer or Exchange of Beneficial Interests in a
Restricted Global Note for Beneficial Interests in an Unrestricted Global Note. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note or may
transfer such beneficial interest to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if the exchange or transfer complies with the requirements of Section 2.06(b)(ii) above and:



(A) such exchange or transfer is effected
pursuant to the Exchange Offer in accordance with a Registration Rights Agreement and the holder of the beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all certifications required in the
applicable Letter of Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement;



11



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(B) such transfer is effected pursuant to a Shelf Registration Statement in accordance
with a Registration Rights Agreement;



(C)
such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with a Registration Rights Agreement; or



(D) the Registrar receives the following:



(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial
interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or



(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such
beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;



and, in each such case set forth in this clause (D), if the
Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.



If any such transfer is effected pursuant to clause (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued,
the Company shall execute and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal
amount of beneficial interests transferred pursuant to clause (B) or (D) above.



(v) Transfer or Exchange of Beneficial Interests in an Unrestricted Global Note for Beneficial Interests in a Restricted Global Note
Prohibited. Beneficial interests in an Unrestricted Global Note may not be exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Note.



(c) Transfer and Exchange of Beneficial Interests in Global Notes for
Definitive Notes.



(i) Transfer or
Exchange of Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. Subject to Section 2.06(a) hereof, if any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then, upon receipt by the Registrar of the following documentation:



(A) if the holder of such beneficial interest in a
Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof;



(B) if such beneficial interest is being transferred to a
QIB in accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;



(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction (as defined in Section
902(k) of Regulation S) in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;



12



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(D) if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof;



(E) if such beneficial interest is being transferred to an
Institutional Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in clauses (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the
certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; or



(F) if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in
Exhibit B hereto, including the certifications in item (3)(b) thereof,



the Trustee shall reduce or cause to be reduced in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of the applicable Restricted Global Note, and the Company shall execute and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver a Restricted Definitive Note in the appropriate principal amount to the Person designated by the holder of such beneficial interest in the
instructions delivered to the Registrar by the Depositary and the applicable Participant or Indirect Participant on behalf of such holder. Any Restricted Definitive Note issued in exchange for beneficial interests in a Restricted Global Note
pursuant to this Section 2.06(c)(i) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such
Restricted Definitive Notes to the Persons in whose names such Notes are so registered. Any Restricted Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(i) shall bear the
Private Placement Legend and shall be subject to all restrictions on transfer contained therein.



(ii) Transfer or Exchange of Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes. Subject to Section
2.06(a) hereof, a holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an
Unrestricted Definitive Note only if:



(A)
such exchange or transfer is effected pursuant to an Exchange Offer in accordance with a Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any
and all certifications in the applicable Letter of Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement;



(B) such transfer is effected pursuant to a Shelf
Registration Statement in accordance with a Registration Rights Agreement;



(C) such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with a Registration Rights Agreement; or



13



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(D) the Registrar receives the following:



(1) if the holder of such beneficial interest in a
Restricted Global Note proposes to exchange such beneficial interest for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or



(2) if the holder of such beneficial interest in a
Restricted Global Note proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof;



and, in each such case set
forth in this clause (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and
that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act.



Upon satisfaction of any of the conditions of any of the clauses of this Section 2.06(c)(iii), the Company
shall execute and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver an Unrestricted Definitive Note in the appropriate principal amount to the Person designated by the holder
of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable Participant or Indirect Participant on behalf of such holder, and the Trustee shall reduce or cause to be reduced in a corresponding amount
pursuant to Section 2.06(h), the aggregate principal amount of the applicable Restricted Global Note.



(iii) Transfer or Exchange of Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes. Subject to
Section 2.06(a) hereof, if any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for an Unrestricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of an Unrestricted Definitive Note, then, upon satisfaction of the applicable conditions set forth in Section 2.06(b)(ii) hereof, the Trustee shall reduce or cause to be reduced in a corresponding amount pursuant to Section
2.06(h) hereof, the aggregate principal amount of the applicable Unrestricted Global Note, and the Company shall execute, and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate and deliver
an Unrestricted Definitive Note in the appropriate principal amount to the Person designated by the holder of such beneficial interest in instructions delivered to the Registrar by the Depositary and the applicable Participant or Indirect
Participant on behalf of such holder. Any Unrestricted Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(iv) shall be registered in such name or names and in such authorized denomination or denominations
as the holder of such beneficial interest shall designate in such instructions. The Trustee shall deliver such Unrestricted Definitive Notes to the Persons in whose names such Notes are so registered. Any Unrestricted Definitive Note issued in
exchange for a beneficial interest pursuant to this Section 2.06(c)(iv) shall not bear the Private Placement Legend.



(d) Transfer and Exchange of Definitive Notes for Beneficial Interests in the Global Notes.



(i) Transfer or Exchange of Restricted Definitive Notes
to Beneficial Interests in Restricted Global Notes. If any holder of a Restricted Definitive Note proposes to exchange such Restricted Definitive Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted
Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation:



(A) if the holder of such Restricted Definitive Note
proposes to exchange such Restricted Definitive Note for a beneficial interest in a Restricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof;



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(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with
Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof;



(C) if such Restricted Definitive Note is being transferred to a non-U.S. Person in an offshore transaction (as defined in
Rule 902(k) of Regulation S) in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof;



(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration
requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof;



(E) if such Restricted Definitive Note is being transferred to an Institutional Accredited Investor in
reliance on an exemption from the registration requirements of the Securities Act other than those listed in clauses (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and
Opinion of Counsel required by item (3)(d) thereof, if applicable; or



(F) if such Restricted Definitive Note is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof,



the Trustee shall cancel the Restricted Definitive Note,
increase or cause to be increased in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note, in the case of clause (B) above, a 144A
Global Note, in the case of clause (C) above, a Regulation S Global Note, and in all other cases, a IAI Global Note.



(ii) Transfer or Exchange of Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A holder of a
Restricted Definitive Note may exchange such Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest
in an Unrestricted Global Note only if:



(A)
such exchange or transfer is effected pursuant to an Exchange Offer in accordance with a Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, makes any
and all certifications in the applicable Letter of Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement;



(B) such transfer is effected pursuant to a Shelf
Registration Statement in accordance with a Registration Rights Agreement;



(C) such transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with a Registration Rights Agreement; or



(D) the Registrar receives the following:



(1) if the holder of such Restricted Definitive Note
proposes to exchange such Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or



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(2) if the holder of such Restricted Definitive Note proposes to transfer such Restricted
Definitive Note to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;



and, in each such case set forth in this clause (D), if the
Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer shall be effected in compliance with the Securities Act and that the
restrictions on transfer contained herein and in the Private Placement Legend shall no longer be required in order to maintain compliance with the Securities Act.



Upon satisfaction of the conditions of any of the clauses in this Section 2.06(d)(ii), the Trustee shall
cancel such Restricted Definitive Note and increase or cause to be increased in a corresponding amount pursuant to Section 2.06(h) hereof, the aggregate principal amount of the Unrestricted Global Note.



(iii) Transfer or Exchange of Unrestricted Definitive
Notes to Beneficial Interests in Unrestricted Global Notes. A holder of an Unrestricted Definitive Note may exchange such Unrestricted Definitive Note for a beneficial interest in an Unrestricted Global Note or transfer such Unrestricted
Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted
Definitive Note and increase or cause to be increased in a corresponding amount pursuant to Section 2.06(h) hereof the aggregate principal amount of one of the Unrestricted Global Notes.



(iv) Transfer or Exchange of Unrestricted Definitive Notes to Beneficial Interests in Restricted Global
Notes Prohibited. An Unrestricted Definitive Note may not be exchanged for, or transferred to Persons who take delivery thereof in the form of, beneficial interests in a Restricted Global Note.



(v) Issuance of Unrestricted Global Notes. If any
such exchange or transfer of a Definitive Note for a beneficial interest in an Unrestricted Global Note is effected pursuant to clause (ii)(B), (ii)(D) or (iii) at a time when an Unrestricted Global Note has not yet been issued, the Company shall
issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so
transferred.



(e) Transfer and Exchange of Definitive
Notes for Definitive Notes. Upon request by a holder of Definitive Notes and such holders compliance with the provisions of this Section 2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such
registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by
such holder. In addition, the requesting holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.06(e).



(i) Transfer of Restricted Definitive Notes to Restricted
Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following:



(A) if the transfer will be made pursuant to Rule 144A, a
certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof;



(B) if the transfer will be made pursuant to Rule 903 or Rule 904, a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof; and



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(C) if the transfer will be made pursuant to any other exemption from the registration
requirements of the Securities Act, a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable.



(ii) Transfer or Exchange of Restricted Definitive Notes
to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive
Note only if:



(A) such exchange or transfer
is effected pursuant to an Exchange Offer in accordance with a Registration Rights Agreement and the holder, in the case of an exchange, or the transferee, in the case of a transfer, makes any and all certifications in the applicable Letter of
Transmittal (or is deemed to have made such certifications if delivery is made through the Applicable Procedures) as may be required by a Registration Rights Agreement;



(B) any such transfer is effected pursuant to a Shelf Registration Statement in accordance with a
Registration Rights Agreement;



(C) any such
transfer is effected by a broker-dealer pursuant to an Exchange Offer Registration Statement in accordance with a Registration Rights Agreement; or



(D) the Registrar receives the following:



(1) if the holder of such Restricted Definitive Note proposes to exchange such Restricted Definitive Notes for an Unrestricted Definitive
Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or



(2) if the holder of such Restricted Definitive Notes proposes to transfer such Restricted Definitive Notes to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof;



and, in each such case set forth in this clause (D), if the Registrar so requests, an Opinion of Counsel in form reasonably
acceptable to the Registrar to the effect that such exchange or transfer complies with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain
compliance with the Securities Act.



Upon satisfaction of the
conditions of any of the clauses of this Section 2.06(e)(ii), the Trustee shall cancel the prior Restricted Definitive Note and the Company shall execute, and upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the
Trustee shall authenticate and deliver an Unrestricted Definitive Note in the appropriate aggregate principal amount to the Person designated by the holder of such prior Restricted Definitive Note in instructions delivered to the Registrar by such
holder.



(iii) Transfer of Unrestricted
Definitive Notes to Unrestricted Definitive Notes. A holder of Unrestricted Definitive Notes may transfer such Unrestricted Definitive Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a
request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the holder thereof.



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(f) Exchange Offer. Upon the occurrence of an Exchange Offer in accordance with a
Registration Rights Agreement, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate (A) one or more Unrestricted Global Notes in an aggregate principal amount
equal to the aggregate principal amount of the beneficial interests in the applicable Restricted Global Notes (1) tendered for acceptance by Persons that make any and all certifications in the applicable Letters of Transmittal (or are deemed to have
made such certifications if delivery is made through the Applicable Procedures) as may be required by such Registration Rights Agreement and (2) accepted for exchange in such Exchange Offer and (B) Unrestricted Definitive Notes in an aggregate
principal amount equal to the aggregate principal amount of the Restricted Definitive Notes tendered for acceptance by Persons who made the foregoing certifications and accepted for exchange in the Exchange Offer. Concurrently with the issuance of
such Notes, the Trustee shall reduce or cause to be reduced in a corresponding amount the aggregate principal amount of the applicable Restricted Global Notes, and the Company shall execute and, upon receipt of an Authentication Order in accordance
with Section 2.02 hereof, the Trustee shall authenticate and deliver to the Persons designated by the holders of Restricted Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate aggregate principal amount.



(g) Legends. The following legends shall appear on the face of
all Global Notes and Definitive Notes issued under this Indenture unless specifically stated otherwise in the applicable provisions of this Indenture.



(i) Private Placement Legend.



(A) Except as permitted by clause (B) below, each Global Note and each Definitive Note (and all Notes issued in exchange therefor or
substitution thereof) shall bear the legend in substantially the following form:



THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR
UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION.



THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY BEFORE THE DATE (THE RESALE RESTRICTION TERMINATION DATE) WHICH IS TWO YEARS AFTER THE LATER
OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY OR ANY OF ITS SUBSIDIARIES, (B) PURSUANT TO A
REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (RULE 144A), TO A PERSON IT REASONABLY BELIEVES IS
A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A) THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D)
PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE OF THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN ACCREDITED INVESTOR WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7)
UNDER THE SECURITIES ACT THAT IS AN INSTITUTIONAL ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE COMPANYS AND THE TRUSTEES RIGHT BEFORE ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION



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AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF
THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.



(B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to clauses (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (d)(v), (e)(ii), (e)(iii) or (f) to this Section 2.06 (and all Notes
issued in exchange therefor or substitution thereof) shall not bear the Private Placement Legend.



(ii) Global Note Legend. Each Global Note shall bear a legend in substantially the following form:



THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED
IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE
REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO
SECTION 2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.



UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY
THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (DTC), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.



(h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular
Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or cancelled in whole and not in part, each such Global Note shall be returned to or retained and cancelled by the Trustee in accordance
with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or
for Definitive Notes, the aggregate principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, the aggregate principal amount of such other Global
Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase.



(i) General Provisions Relating to Transfers and Exchanges.



(i) No service charge shall be made to a holder of a
beneficial interest in a Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Company may require



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payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in
connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06 and 9.05 hereof).



(ii) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global
Notes or Definitive Notes shall be the valid obligations of the Company, evidencing the same debt as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange and shall be entitled to all of the benefits of this
Indenture equally and proportionately with all other Notes duly issued hereunder.



(iii) Neither the Registrar nor the Company shall be required (A) to issue, to register the transfer of or to exchange any Notes during a
period beginning at the opening of business 15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the date of selection, (B) to register the transfer of or to exchange any
Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part or (C) to register the transfer of or to exchange a Note between a record date (including a Regular Record Date) and the next
succeeding Interest Payment Date.



(iv) Prior
to due presentment for the registration of transfer of any Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of
principal of, premium, if any, and interest on such Note and for all other purposes, in each case regardless of any notice to the contrary.



(v) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to
effect a registration of transfer or exchange may be submitted by facsimile.



(vi) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer
of any interest in any Note (including any transfers between or among Participants or beneficial owners of interests in any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly
required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof.



(vii) Neither the Trustee nor any Agent shall have any
responsibility for any actions taken or not taken by the Depositary.



Section 2.07. Replacement Notes.



If any mutilated Note is surrendered to the Trustee or the Company or the Trustee receives evidence to its satisfaction of the destruction, loss or theft of any Note, the Company shall issue and the Trustee shall
authenticate a replacement Note. If required by the Trustee or the Company, the Holder of such Note shall provide indemnity that is sufficient, in the judgment of the Trustee or the Company, to protect the Company, the Trustee, any Agent and any
authenticating agent from any loss that any of them may suffer in connection with such replacement. If required by the Company, such Holder shall reimburse the Company for its reasonable expenses in connection with such replacement.



Every replacement Note issued in accordance with this Section 2.07 shall be
the valid obligation of the Company, evidencing the same debt as the destroyed, lost or stolen Note, and shall be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder.



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Section 2.08. Outstanding Notes.



(a) The Notes outstanding at any time shall be the entire principal amount
of Notes represented by all of the Global Notes and Definitive Notes authenticated by the Trustee except for those cancelled by it, those delivered to it for cancellation, those subject to reductions in beneficial interests effected by the Trustee
in accordance with Section 2.06 hereof, and those described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note shall not cease to be outstanding because the Company or an Affiliate of the Company holds the
Note; provided, however that in determining whether the holders of the requisite principal amount of outstanding Notes are present at a meeting of Holders for quorum purposes or have consented to or voted in favor of any request,
demand, authorization, direction, notice, consent, waiver, amendment or modification hereunder, Notes held for the account of the Company, any of its Subsidiaries or any of its Affiliates shall be disregarded and deemed not to be outstanding, except
that in determining whether the Trustee shall be protected in making such a determination or relying upon any such quorum, vote or consent, only Notes which a Responsible Officer of the Trustee actually knows to be so owned shall be so disregarded.



(b) If a Note is replaced pursuant to Section 2.07 hereof, it
shall cease to be outstanding unless the Trustee receives proof satisfactory to it that the replaced note is held by a bona fide purchaser.



(c) If the principal amount of any Note is considered paid under Section 4.01 hereof, it shall cease to be outstanding and interest on it shall cease to
accrue.



(d) If the Paying Agent (other than the Company, a
Subsidiary or an Affiliate of any thereof) holds, on a redemption date or a maturity date, funds sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to
accrue interest.



Section 2.09.
Treasury Notes.



In determining whether the
Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by the Company, or by any Affiliate of the Company, shall be considered as though not outstanding, except that for the purposes of
determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded.



Section 2.10. Temporary Notes.



Until certificates representing Notes are ready for delivery,
the Company may prepare and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of Definitive Notes but may have
variations that the Company considers appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate Global Notes or Definitive Notes in
exchange for temporary Notes, as applicable. After preparation of Definitive Notes, the temporary Note will be exchangeable for Definitive Notes upon surrender of the Temporary Notes.



Holders of temporary Notes shall be entitled to all of the benefits of this Indenture equally and proportionately with all
other Notes duly issued hereunder.



Section
2.11. Cancellation.



The Company at any time
may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. Upon sole direction of the Company, the Trustee and no
one else shall cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and shall destroy cancelled Notes (subject to the record retention requirements of the Exchange Act or other applicable laws)
unless by written order, signed by an Officer of the Company, the Company directs them to be returned to it. Certification of the destruction of all cancelled Notes shall be delivered to the Company from time to time upon request. The Company may
not issue new Notes to replace Notes that it has paid or that have been delivered to the Trustee for cancellation.



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Section 2.12. Payment of Interest; Defaulted Interest.



If the Company defaults in a payment of interest on the Notes, it shall
pay the defaulted interest in any lawful manner plus, to the extent lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section
4.01 hereof. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company shall fix or cause to be fixed each such special record date and
payment date; provided that no such special record date shall be less than 10 days prior to the related Interest Payment Date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written
request of the Company, the Trustee in the name and at the expense of the Company) shall mail or cause to be mailed to Holders a notice that states the special record date, the related Interest Payment Date and the amount of such interest to be
paid.



Section 2.13. CUSIP or
ISIN Numbers.



The Company in issuing the Notes may
use CUSIP and/or ISIN numbers (if then generally in use), and, if so, the Trustee shall use CUSIP and/or ISIN numbers in notices of redemption as a convenience to Holders; provided, however,
that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers
printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Company shall promptly notify the Trustee in writing of any change in the CUSIP and/or ISIN numbers.



Section 2.14. Additional
Interest.



If Additional Interest is payable by the
Company pursuant to a Registration Rights Agreement and paragraph 1 of the Notes, the Company shall deliver to the Trustee no later than 15 days prior to the applicable interest payment date a certificate to that effect stating (i) the amount of
such Additional Interest that is payable and (ii) the date on which such interest is payable pursuant to Section 4.01 hereof. Unless and until a Responsible Officer of the Trustee receives such a certificate or instruction or direction from the
Holders in accordance with the terms of this Indenture, the Trustee may assume without inquiry that no Additional Interest is payable. The foregoing shall not prejudice the rights of the Holders with respect to their entitlement to Additional
Interest as otherwise set forth in this Indenture or the Notes and pursuing any action against the Company directly or otherwise directing the Trustee to take any such action in accordance with the terms of this Indenture and the Notes. If the
Company has paid Additional Interest directly to the Persons entitled to it, the Company shall deliver to the Trustee an Officers Certificate setting forth the details of such payment.



The Trustee shall not at any time be under any duty or responsibility to any
Holder to determine the Additional Interest, or with respect to the nature, extent or calculation of the amount of Additional Interest owed or with respect to the method employed in such calculation of the Additional Interest.



Section 2.15. Issuance of Additional
Notes



The Company shall be entitled to issue
Additional Notes under this Indenture which shall have identical terms as the Initial Notes issued on the date hereof, other than with respect to the date of issuance, issue price and rights under a related Registration Rights Agreement, if any. The
Initial Notes issued on the date hereof, any Additional Notes and all Exchange Notes issued in exchange therefor shall be treated as a single class for all purposes under this Indenture, including directions, waivers, amendments, consents and
redemptions.



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With respect to any Additional Notes, the Company shall set forth in a Board Resolution and an
Officers Certificate, a copy of each of which shall be delivered to the Trustee, the following information:



(a) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture;



(b) the issue price, the issue date and the CUSIP and/or ISIN number of such
Additional Notes; provided, however, that no Additional Notes may be issued at a price that would cause such Additional Notes to have original issue discount within the meaning of Section 1273 of the Code, other than a de
minimis original issue discount within the meaning of Section 1273 of the Code; and



(c) whether such Additional Notes shall be subject to the restrictions on transfer set forth in Section 2.06 hereof relating to Restricted Global Notes and Restricted Definitive Notes.



Section 2.16. Record Date.



The record date for purposes of determining the identity of Holders
entitled to vote or consent to any action by vote or consent or permitted under this Indenture shall be determined as provided for in TIA Section 316(c).



ARTICLE 3.



REDEMPTION AND PREPAYMENT



Section 3.01. Notices to Trustee.



If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it shall
furnish to the Trustee, at least 45 days but not more than 60 days before a redemption date (or such shorter period as allowed by the Trustee), an Officers Certificate setting forth (a) the redemption date, (b) the principal amount of Notes to
be redeemed and (c) the redemption price.



Section 3.02. Selection of Notes to Be Redeemed.



If less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes to be redeemed among the Holders of the Notes in compliance with the requirements of the principal national securities
exchange, if any, on which the Notes are listed or, if the Notes are not so listed, on a pro rata basis, by lot or in accordance with any other method the Trustee deems fair and appropriate. In the event of partial redemption by lot, the
particular Notes to be redeemed shall be selected, unless otherwise provided herein, not less than 45 days prior to the redemption date by the Trustee from the outstanding Notes not previously called for redemption.



The Trustee shall promptly notify the Company in writing of the Notes
selected for redemption and, in the case of any Note selected for partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in amounts of $1,000 or integral multiples thereof; except that if all
of the Notes of a Holder are to be redeemed, the entire outstanding amount of Notes held by such Holder, even if not an integral multiple of $1,000, shall be redeemed. Except as provided in the preceding sentence, provisions of this Indenture that
apply to Notes called for redemption also apply to portions of Notes called for redemption.



Section 3.03. Notice of Redemption.



At least 30 days but not more than 60 days prior to a redemption date, the Company shall mail or cause to be mailed, by
first class mail, a notice of redemption to each Holder whose Notes are to be redeemed at such Holders registered address appearing in the Security Register.



The notice shall identify the Notes to be redeemed and shall state:



(a) the redemption date;



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(b) the appropriate method for calculation of the redemption price, but need not include the redemption
price itself; the actual redemption price shall be set forth in an Officers Certificate delivered to the Trustee no later than two (2) Business Days prior to the redemption date unless clause (2) of the definition of Comparable Treasury
Price is applicable, in which case such Officers Certificate should be delivered on the redemption date;



(c) if any Note is being redeemed in part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon
surrender of such Note, if applicable, a new Note or Notes in principal amount equal to the unredeemed portion shall be issued upon cancellation of the original Note;



(d) the name and address of the Paying Agent;



(e) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price;



(f) that, unless the Company defaults in making such redemption payment,
interest on Notes called for redemption ceases to accrue on and after the redemption date;



(g) the applicable section of this Indenture pursuant to which the Notes called for redemption are being redeemed; and



(h) the CUSIP numbers and that no representation is made as to the correctness of the CUSIP and/or ISIN numbers, if any, listed in such notice or printed
on the Notes.



At the Companys request, the Trustee shall
give the notice of redemption in the Companys name and at its expense; provided, however, that the Company shall have delivered to the Trustee, at least 45 days (or such shorter period allowed by the Trustee), prior to the redemption
date, an Officers Certificate requesting that the Trustee give such notice (in the name and at the expense of the Company) and setting forth the information to be stated in such notice as provided in this Section 3.03.



Section 3.04. Effect of Notice of
Redemption.



Once notice of redemption is mailed in
accordance with Section 3.03 hereof, Notes called for redemption shall become irrevocably due and payable on the redemption date at the redemption price. A notice of redemption may not be conditional.



Section 3.05. Deposit of Redemption
Price.



On or prior to 11:00 a.m. New York City time
on the Business Day prior to any redemption date, the Company shall deposit with the Trustee or with the Paying Agent (or, if the Company is acting as its own Paying Agent, segregate and hold in trust as provided in Section 2.04) money sufficient to
pay the redemption price of and, if applicable, accrued and unpaid interest on all Notes to be redeemed on that date. The Trustee or the Paying Agent shall promptly, and in any event within two (2) Business Days after the redemption date, return to
the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the redemption price of, and accrued and unpaid interest, if any, on, all Notes to be redeemed.



If the Company complies with the provisions of the preceding paragraph, on
and after the redemption date, interest shall cease to accrue on the Notes or the portions of Notes called for purchase or redemption in accordance with Section 2.08(d) hereof, whether or not such Notes are presented for payment. If a Note is
redeemed on or after a Regular Record Date but on or prior to the related Interest Payment Date, then any accrued and unpaid interest, if any, shall be paid to the Person in whose name such Note was registered at the close of business on such
Regular Record Date. If any Note called for redemption shall not be so paid upon surrender for redemption because of the failure of the Company to comply with the preceding paragraph, interest shall be paid on the unpaid principal from the
redemption date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in Section 4.01 hereof.



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Section 3.06. Notes Redeemed in Part.



Upon surrender of a Note that is redeemed in part, the Company shall issue
and the Trustee shall authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed portion of the Note surrendered.



Section 3.07. Optional Redemption.



(a) The Company may, at its option, redeem the Notes, in whole or from time
to time in part, after giving the notice required pursuant to Section 3.03 hereof, at a redemption price equal to the greater of:



(i) 100% of the aggregate principal amount of the Notes to be redeemed; and



(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the
Notes, not including unpaid interest accrued to the redemption date, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points for the 2009 Notes,
or the Treasury Rate plus 15 basis points for the 2014 Notes, as applicable, plus, in each case, unpaid interest on the Notes being redeemed accrued to the redemption date (subject to the right of Holders of record on the relevant Regular Record
Date to receive interest due on the relevant Interest Payment Date).



Any notice to the Holders of a redemption pursuant to this Section 3.07(a) shall include the appropriate calculation of the redemption price, but need not include the redemption price itself. The actual redemption price, calculated as
described above, shall be set forth in an Officers Certificate delivered to the Trustee no later than two Business Days prior to the redemption date.



(b) Any prepayment pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof.



Section 3.08. Mandatory Redemption.



The Company shall not be required to make mandatory
redemption or sinking fund payments with respect to, or offer to purchase, the Notes.



ARTICLE 4.



COVENANTS



|Section | 4.01. Payment of Notes.
|------- | -----------------------



The Company shall pay or cause to be paid the principal of, premium, if any, and interest on, the Notes on the dates and in the manner provided in this
Indenture and the Notes. Principal, premium, if any, and interest shall be considered paid on the date due if the Paying Agent, if other than the Company or a Subsidiary thereof, holds as of 10:00 a.m., New York City time on the due date money
deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due. Such Paying Agent shall return to the Company promptly, and in any event, no later than five (5)
Business Days following the date of payment, any money (including accrued interest) that exceeds such amount of principal, premium, if any, and interest paid on the Notes. The Company shall pay Additional Interest, if any, in the same manner, on the
dates and in the amounts set forth in a Registration Rights Agreement, the Notes and the Indenture. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday,
and no interest shall accrue on such payment for the intervening period.



Interest shall be computed on the basis of a 360-day year of twelve 30-day months.



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Section 4.02. Maintenance of Office or Agency.



(a) The Company shall maintain in the Borough of Manhattan, The City of New
York, an office or agency (which may be an office or drop facility of the Trustee or an affiliate of the Trustee, Registrar or co-registrar) where Notes may be presented or surrendered for registration of transfer or for exchange and where notices
and demands to or upon the Company in respect of the Notes and this Indenture may be served. The Company shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Company shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee,
and the Company hereby appoints the Trustee as its agent to receive all such presentations, surrenders, notices and demands.



(b) The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all
such purposes and may from time to time rescind such designations. The Company shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.



(c) The Company hereby designates the Corporate Trust Office of the Trustee,
as one such office, drop facility or agency of the Company in accordance with Section 2.03 hereof.



Section 4.03. Reports.



The Company shall:



(a) file with the Trustee, so long as any Notes are outstanding, within 15 days after the Company is required to file the same with the Commission, copies
of the annual reports and of the information, documents and other reports which the Company may be required to file with the Commission pursuant to Section 13 or Section 15(d) of the Exchange Act (or at the Companys option, notify the Trustee
that such filings have been made); or, if the Company is not required to file information, documents or reports pursuant to either of said Sections, then it shall file with the Trustee and the Commission, in accordance with rules and regulations
prescribed from time to time by the Commission, such of the supplementary and periodic information, documents and reports which may be required pursuant to Section 13 of the Exchange Act in respect of a security listed and registered on a national
securities exchange as may be prescribed from time to time in such rules and regulations;



(b) if the Company is no longer required (or is not required, as the case may be) to file reports pursuant to Section 13 or 15(d) of the Exchange Act, then it shall promptly furnish or cause to be furnished such
information as is specified pursuant to Rule 144A(d) (4) under the Securities Act (or any successor provision thereto) to such Holder or to a prospective purchaser of a Note who is designated by such Holder, upon the request of such Holder or
prospective purchaser, in order to permit compliance with Rule l44A under the Securities Act; and



(c) file with the Trustee and the Commission, in accordance with rules and regulations prescribed from time to time by the Commission, such additional
information, documents and reports with respect to compliance by the Company with the conditions and covenants of this Indenture as may be required from time to time by such rules and regulations.



Delivery of such reports, information and documents to the Trustee is for
informational purposes only and the Trustees receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Companys compliance with any of
its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers Certificates).



Section 4.04. Compliance Certificate.



(a) The Company shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers
Certificate stating that a review of the activities of the Company during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept,



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observed, performed and fulfilled its obligations under this Indenture, and further stating, as to each such Officer
signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and is not in default in the performance or observance of any of the
terms, provisions and conditions of this Indenture (or, if a Default or Event of Default shall have occurred, describing all such Defaults or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes
to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which payments on account of the principal of, premium, if any, or interest on the Notes is prohibited or if such
event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto.



(b) The Company shall otherwise comply with TIA §314(a)(2).



(c) The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in the form of an Officers Certificate
of any event that with the giving of notice and/or the lapse of time would become an Event of Default, its status and what action the Company is taking or proposes to take with respect thereto.



Section 4.05. Corporate Existence.



Subject to Article 5 hereof, the Company shall do or cause to
be done all things necessary to preserve and keep in full force and effect its corporate existence.



Section 4.06. Liens.



The Company will not at any time, directly or indirectly, create or assume and will not cause or permit a Subsidiary of the Company, directly or
indirectly, to create or assume, otherwise than in favor of the Company or a Wholly-Owned Subsidiary of the Company, any Lien upon (1) any Principal Facility or any interest it may have therein, (2) any stock of any Subsidiary of the Company or (3)
any Debt of any Subsidiary of the Company to the Company or any other Subsidiary of the Company, whether now owned or hereafter acquired, without making effective provision (and the Company covenants that in such case it will make or cause to be
made effective provision) whereby the Notes and any other Debt of the Company then entitled thereto shall be secured by such Lien equally and ratably with any and all other obligations and Debt thereby secured, so long as any such other obligations
and Debt shall be so secured; provided, however, that the foregoing covenant shall not be applicable to the following:



(a) (i) any Lien on any Principal Facility hereafter acquired or constructed by the Company or a Subsidiary, or on which such Principal Facility so
constructed is located, and created prior to, contemporaneously with or within 360 days after, such acquisition or construction or the commencement of commercial operation of such Principal Facility to secure or provide for the payment of any part
of the purchase or construction price of such Principal Facility, or (ii) the acquisition by the Company or a Subsidiary of the Company of any Principal Facility subject to any Lien upon such Principal Facility existing at the time of acquisition
thereof, whether or not assumed by the Company or such Subsidiary of the Company, or (iii) any Lien existing on the property, shares of stock or indebtedness of a corporation at the time such corporation shall become a Subsidiary of the Company, or
(iv) any conditional sales agreement or other title retention agreement with respect to any Principal Facility hereafter acquired or constructed; provided that, in the case of clauses (i) through (iv) of this Section 4.06(a), such Lien does
not spread to any Principal Facility owned prior to such acquisition or construction or to any other Principal Facility thereafter acquired or constructed other than additions to such acquired or constructed Principal Facility and other than
property on which such Principal Facility so constructed is located; provided, further, that if a firm commitment from a bank, insurance company or other lender or investor (not including the Company or, a Subsidiary or an Affiliate of
the Company) for the financing of the acquisition or construction of any Principal Facility is made prior to, contemporaneously with or within the 360-day period hereinabove referred to, the applicable Lien shall be deemed to be permitted by this
subsection (a) whether or not created or assumed within such period;



(b) any Lien created for the sole purpose of extending, renewing or refunding any Lien permitted by subsection (a) of this Section 4.06; provided, however, that the principal amount of Debt secured thereby shall not exceed the
principal amount of Debt so secured at the time of such extension, renewal or refunding and that such extension, renewal or refunding Lien shall be limited to all or any part of the same collateral that secured the Lien extended, renewed or
refunded;



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(c) (i) Liens for taxes or assessments or governmental charges or levies not then due and delinquent or
the validity of which is being contested in good faith, and against which an adequate reserve has been established; (ii) Liens on any Principal Facility created in connection with pledges or deposits to secure public or statutory obligations or to
secure performance in connection with bids or contracts; (iii) materialmens, mechanics, carriers, workmens, repairmens or other like Lien or Liens on any Principal Facility created in connection with deposits to obtain
the release of such Liens; (iv) Liens on any Principal Facility created in connection with deposits to secure surety, stay, appeal or customs bonds; (v) Liens created by or resulting from any litigation or legal proceeding which is currently being
contested in good faith by appropriate proceedings; (vi) leases and Liens, rights of reverter and other possessory rights of the lessor thereunder; (vii) zoning restrictions, easements, rights-of-way or other restrictions on the use of real property
or minor irregularities in the title thereto; (viii) any other Liens and encumbrances similar to those specified in this subsection (c) the existence of which does not, in the good faith determination of the Board of Directors of the Company,
materially impair the use by the Company or any Subsidiary of the Company of the affected Principal Facility in the operation of the business of the Company or any Subsidiary of the Company, or the value of such Principal Facility for the purposes
of such business; and (ix) Liens arising by operation of law;



(d) any contracts for production, research or development with or for the Government, directly or indirectly, providing for advance, partial or progress payments on such contracts and for a Lien, paramount to all other Liens, upon money
advanced or paid pursuant to such contracts, or upon any material or supplies in connection with the performance of such contracts to secure such payments to the Government, and Liens or other evidences of interest in favor of the Government,
paramount to all other Liens, on any equipment, tools, machinery, land or buildings hereafter constructed, installed or purchased by the Company or any Subsidiary of the Company primarily for the purpose of manufacturing or producing any product or
performing any development work, directly or indirectly, for the Government to secure Debt incurred and owing to the Government for the construction, installation or purchase of such equipment, tools, machinery, land or buildings;



(e) any Lien created after the date of this Indenture on any Principal
Facility leased to or purchased by the Company or any Subsidiary of the Company after that date and securing, directly or indirectly, obligations issued by a State, a territory or a possession of the United States, or any political subdivision of
any of the foregoing, or the District of Columbia, to finance the cost of acquisition or cost of construction of such Principal Facility, provided that the interest paid on such obligations is entitled to be excluded from gross income of the
recipient pursuant to Section 103(a)(1) of the Internal Revenue Code of 1986 (or any successor to such provision) as in effect at the time of the issuance of such obligations;



(f) any Lien on any Principal Facility now owned or hereafter acquired or constructed by the Company or any Subsidiary of
the Company, or on which such Principal Facility so owned, acquired or constructed is located, to secure or provide for the payment of any part of the construction price or cost of improvements of such Principal Facility, and created prior to,
contemporaneously with or within 360 days after, such construction or improvement; provided that if a firm commitment from a bank, insurance company or other lender or investor (not including the Company, or a Subsidiary or an Affiliate of
the Company) for the financing of the acquisition or construction of such Principal Facility is made prior to, contemporaneously with or within the 360-day period hereinabove referred to, the applicable Lien shall be deemed to be permitted by this
subsection (f) whether or not created or assumed within such period; and



(g) any Lien not otherwise permitted under this Section 4.06; provided that the aggregate amount of Debt secured by all such Liens does not exceed 15% of Consolidated Stockholders Equity.



Section 4.07. Payment of Taxes.



The Company will pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary of the Company or upon the income, profits or property of the Company or any Subsidiary of the
Company; provided, however, that the Company shall not be required to pay or discharge or cause to be paid or



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discharged any such tax, assessment or charge (i) whose amount, applicability or validity is being contested in good
faith by appropriate proceedings or (ii) where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.



ARTICLE 5.



SUCCESSORS



Section 5.01. Merger, Consolidation and Sale of Assets



(a) The Company shall not merge, consolidate or amalgamate with or into any
other Person or sell, transfer, assign, lease, convey or otherwise dispose of all or substantially all of its property and assets in any one transaction or series of transactions unless:



(i) the Company shall be the Surviving Person in such merger, consolidation or amalgamation, or the
Surviving Person (if other than the Company) formed by such merger, consolidation or amalgamation or to which such sale, transfer, assignment, lease, conveyance or disposition is made shall be a corporation organized and existing under the laws of
the United States of America, any State thereof or the District of Columbia;



(ii) the Surviving Person (if other than the Company) expressly assumes, by supplemental indenture in form satisfactory to the Trustee, in its reasonable judgment, executed and delivered to the Trustee by such
Surviving Person, the due and punctual payment of the principal of, and premium, if any, and interest on, all the Notes, according to their tenor, and the due and punctual performance and observance of all the covenants and conditions of this
Indenture to be performed by the Company;



(iii) immediately before and after giving effect to such transaction or series of transactions and treating any indebtedness that becomes and obligation of the Company or any of its Subsidiaries as a result of such transaction or series of
transactions as having been incurred by the Company or any of its Subsidiaries at the time of such transaction or series of transactions, no Default or Event of Default shall have occurred and be continuing;



(iv) if, as a result of such transaction or series of
transactions, the property or assets of the Company would become subject to a Lien not otherwise permitted by Section 4.06 hereof, the Company or the Surviving Person shall take all necessary steps to secure all of the outstanding Notes and Exchange
Notes equally and ratably with the indebtedness secured by such Lien;; and



(v) the Company shall deliver, or cause to be delivered, to the Trustee, in form and substance satisfactory to the Trustee, in its reasonable judgment, an Officers Certificate and an Opinion of Counsel, each
stating that such transaction or series of transactions and the supplemental indenture, if any, in respect thereto comply with this covenant and that all conditions precedent herein provided for relating to such transaction or series of transactions
have been satisfied.



Section 5.02.
Successor Corporation Substituted.



The
Surviving Person shall succeed to, and be substituted for, and may exercise every right and power of the Company under this Indenture; provided, however, that the predecessor entity shall not be released from any of the obligations or
covenants under this Indenture, including with respect to the payment of the Notes in the case of:



(a) a sale, transfer, assignment, conveyance or other disposition (unless such sale, transfer, assignment, conveyance or other disposition is of all or
substantially all of the assets of the Company, taken as a whole); or



(b) a lease.



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ARTICLE 6.



DEFAULTS AND REMEDIES



Section 6.01. Events of Default.



Each of the following constitutes an Event of Default with respect to the 2009 Notes or the 2014 Notes, as the
case may be:



(a) failure to make the payment of any interest
on the 2009 Notes or the 2014 Notes, as the case may be, when the same becomes due and payable, and such failure continues for a period of 30 calendar days;



(b) failure to make the payment of any principal of, or premium, if any, on, any of the 2009 Notes or the 2014 Notes, as the case may be, when the same
becomes due and payable at its Stated Maturity, upon acceleration, redemption or otherwise;



(c) failure to comply with any covenant or agreement in the Notes or in this Indenture, and such failure continues for 90 calendar days after there has been given, by registered or certified mail, to the Company by
the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the outstanding Notes of the applicable series a written notice specifying such default and requiring it to be remedied and stating that such notice
is a Notice of Default hereunder;



(d) default (i)
in the payment of any scheduled principal of or premium, if any, or interest on any Debt of the Company or any Subsidiary of the Company (other than the Notes), aggregating more than $75.0 million in principal amount, when due after giving effect to
any applicable grace period or (ii) in the performance of any other term or provision of any Debt of the Company or any Subsidiary of the Company (other than the Notes), in excess of $75.0 million principal amount that results in such Debt becoming
or being declared due and payable prior to the date on which it would otherwise become due and payable, and such acceleration shall not have been rescinded or annulled, or such Debt shall not have been discharged, within a period of 15 days after
there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Notes, a written notice specifying such default and stating
that such notice is a Notice of Default hereunder; or



(e) the Company or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:



(A) commences a voluntary case under any Bankruptcy Law;



(B) consents to the entry of an order for relief against it in an involuntary case or consents to its
dissolution or winding up;



(C) consents to
the appointment of a receiver, interim receiver, receiver and manager, liquidator, trustee or custodian of it or for all or substantially all of its property;



(D) makes a general assignment for the benefit of its creditors; or



(E) admits in writing its inability to pay its debts as they become due or otherwise admits its insolvency;
and



(f) a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that:



(A) is
for relief against the Company or any Significant Subsidiary in an involuntary case; or



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(B) appoints a receiver, interim receiver, receiver and manager, liquidator, trustee or
custodian of the Company or any Significant Subsidiary or for all or substantially all of their respective properties; or



(C) orders the liquidation of the Company or any Significant Subsidiary;



and such order or decree remains unstayed and in effect for 60 consecutive days.



Section 6.02. Acceleration.



If any Event of Default (other than those of the type described in
Section 6.01(e) or (f)) occurs and is continuing, the Trustee may, and the Trustee upon the request of Holders of at least 25% in aggregate principal amount of the outstanding Notes shall, or the Holders of at least 25% in aggregate principal amount
of outstanding Notes may, declare the principal of all the Notes, together with all accrued and unpaid interest, premium, if any, to be due and payable by notice in writing to the Company and the Trustee specifying the respective Event of Default
and that such notice is a notice of acceleration (the Acceleration Notice), and the same shall become immediately due and payable.



In the case of an Event of Default specified in Section (e) or (f) of Section 6.01 hereof, all outstanding Notes shall become due and payable immediately
without any further declaration or other act on the part of the Trustee or the Holders. Holders may not enforce this Indenture or the Notes except as provided in this Indenture.



At any time after a declaration of acceleration with respect to the Notes, the Holders of a majority in principal amount of
the Notes then outstanding (by notice to the Trustee) may rescind and cancel such declaration and its consequences if:



(a) the rescission would not conflict with any judgment or decree of a court of competent jurisdiction;



(b) all existing Defaults and Events of Default have been cured or waived
except nonpayment of principal of or interest on the Notes that has become due solely by reason of such declaration of acceleration;



(c) to the extent the payment of such interest is lawful, interest (at the same rate specified in the Notes) on overdue installments of interest and
overdue payments of principal which have become due otherwise than by reason of such declaration of acceleration has been paid;



(d) the Company has paid the Trustee its compensation and reimbursed the Trustee for its reasonable expenses, disbursements and advances; and



(e) in the event of the cure or waiver of an Event of Default of the type
described in Sections 6.01 (e) or (f), the Trustee has received an Officers Certificate and Opinion of Counsel that such Event of Default has been cured or waived.



Section 6.03. Other Remedies.



If an Event of Default occurs and is continuing, the Trustee may pursue any
available remedy to collect the payment of principal, premium, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture.



The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies
shall be cumulative to the extent permitted by law.



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Section 6.04. Waiver of Defaults.



The Holders of at least a majority in aggregate principal amount of the
Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes, waive any existing Default or Event of Default, and its consequences, except a continuing Default or Event of Default (i) in the payment of the
principal of, premium, if any, or interest, on the Notes and (ii) in respect of a covenant or provision which under this Indenture cannot be modified or amended without the consent of the Holder of each Note affected by such modification or
amendment. Upon any waiver of a Default or Event of Default, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed cured for every purpose of this Indenture but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any right consequent thereon.



Section 6.05. Control by Majority.



Subject to Section 7.01, Section 7.02(f) (including the Trustees receipt of the security or indemnification described therein) and Section 7.07 hereof, in case an Event of Default shall occur and be continuing,
the Holders of a majority in aggregate principal amount of the Notes then outstanding shall have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power
conferred on the Trustee with respect to the Notes.



Section 6.06. Limitation on Suits.



No Holder shall have any right to institute any proceeding with respect to this Indenture, or for the appointment of a receiver or trustee, or for any remedy thereunder, unless:



(a) such Holder has previously given to the Trustee written notice of a continuing Event of Default or the Trustee receives
the notice from the Company,



(b) Holders of at least 25% in
aggregate principal amount of the Notes then outstanding have made written request and offered to the Trustee reasonable indemnity satisfactory to it to institute such proceeding as trustee, and



(c) the Trustee shall not have received from the Holders of a majority in
aggregate principal amount of the Notes then outstanding a direction inconsistent with such request and shall have failed to institute such proceeding within 60 days.



The preceding limitations shall not apply to a suit instituted by a Holder for enforcement of payment of principal of, and
premium, if any, or interest on, a Note on or after the respective due dates for such payments set forth in such Note.



A Holder may not use this Indenture to affect, disturb or prejudice the rights of another Holder or to obtain a preference or priority over another Holder
(it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders).



Section 6.07. Rights of Holders to Receive Payment.



Notwithstanding any other provision of this Indenture (including Section
6.06), the right of any Holder to receive payment of principal, premium, if any, and interest on the Notes held by such Holder, on or after the respective due dates expressed in the Notes, or to bring suit for the enforcement of any such payment on
or after such respective dates, shall not be impaired or affected without the consent of such Holder.



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Section 6.08. Collection Suit by Trustee.



If an Event of Default specified in Section 6.01 (a) or (b) occurs and is
continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust against the Company for the whole amount of principal of, premium, if any, and interest then due and owing (together with interest on
overdue principal and, to the extent lawful, interest) and such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its
agents and counsel.



Section 6.09.
Trustee May File Proofs of Claim.



The Trustee
shall be authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel) and the Holders allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive and
distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.07 hereof. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any Holder any plan of reorganization, arrangement, adjustment or composition affecting
the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding.



Section 6.10. Priorities.



If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order:



First: to the Trustee, its agents and attorneys for amounts due under
Section 7.07 hereof, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection;



Second:to Holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest ratably,
without preference or priority of any kind, according to the amounts due and payable on the Notes for principal, premium, if any, and interest, respectively; and



Third: to the Company or to such party as a court of competent jurisdiction shall direct.



The Trustee may fix a record date and payment date for any payment to Holders
pursuant to this Section 6.10.



Section
6.11. Undertaking for Costs.



In any suit
for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys fees, against any party litigant in such suit, having due regard to the merits and good faith of the claims
or defenses made by the party litigant. This Section 6.11 shall not apply to a suit by the Trustee, a suit by the Company, a suit by a Holder pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in principal amount of the then
outstanding Notes.



33



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ARTICLE 7.



TRUSTEE



Section 7.01. Duties of Trustee.



(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and powers vested
in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent Person would exercise or use under the circumstances in the conduct of such Persons own affairs.



(b) Except during the continuance of an Event of Default:



(1) the duties of the Trustee shall be determined solely by
the express provisions of this Indenture and the Trustee need perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee;
and



(2) in the absence of bad faith on its
part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However,
the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein).



(c) The Trustee may not be relieved from liabilities for its
own negligent action, its own negligent failure to act, or its own willful misconduct, except that



(1) this paragraph does not limit the effect of paragraph (b) of this Section;



(2) the Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; and



(3) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction
received by it pursuant to Section 6.05 hereof.



(d) Whether or
not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01.



(e) No provision of this Indenture shall require the Trustee to expend or risk its own funds or incur any liability. The
Trustee shall be under no obligation to exercise any of its rights and powers under this Indenture at the request of any Holders, unless such Holder shall have offered to the Trustee security and indemnity satisfactory to it against any loss,
liability or expense.



(f) The Trustee shall not be liable for
interest on any money received by it except as the Trustee may agree in writing with the Company. Money held in trust by the Trustee need not be segregate from other funds except to the extent required by law.



34



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|Section | 7.02. Rights of Trustee.
|------- | ------------------------



Subject to TIA Section 315:



(a) The Trustee may conclusively rely (and shall be protected in acting or refraining from acting) upon any document believed by it to be genuine and to
have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in any such document.



(b) Before the Trustee acts or refrains from acting, it may require an Officers Certificate or an Opinion of Counsel or both. The Trustee shall not
be liable for any action it takes or omits to take in good faith in reliance on such Officers Certificate or Opinion of Counsel. The Trustee may consult with counsel of its selection and the advice of such counsel or any Opinion of Counsel
shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon.



(c) The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be authorized
or within the rights or powers conferred upon it by this Indenture.



(d) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company shall be sufficient if signed by an Officer of the Company.



(e) The Trustee shall not be deemed to have notice of any Default or Event of
Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default or Event of Default is received by a Responsible Officer of the Trustee at the Corporate Trust
Office of the Trustee from the Company or the Holders of 25% in aggregate principal amount of the outstanding Notes, and such notice references the specific Default or Event of Default, the Notes and this Indenture.



(f) The Trustee shall not be required to give any bond or surety in respect
of the performance of its power and duties hereunder.



(g) The
Trustee shall have no duty to inquire as to the performance of the Companys covenants herein.



(h) The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys and
the Trustee shall not be responsible for any misconduct or negligence on the part of any agent or attorney appointed with due care by it hereunder.



(i) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at the request or direction of any of
the Holders pursuant to this Indenture, unless such Holders have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be incurred by it in compliance with such request or
direction.



(j) The Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, note, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document but the
Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit.



(k) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be indemnified, are
extended to and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder.



(l) The Trustee may request that the Company deliver an Officers Certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture, which Officers Certificate may be signed by any person authorized to sign an Officers Certificate, including any Person specified as so authorized in any such
certificate previously delivered and not superceded.



|Section | 7.03. Individual Rights of Trustee.
|------- | -----------------------------------



The Trustee in its individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of
the Company with the same rights it would have if it were



35



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not Trustee. However, in the event that the Trustee acquires any conflicting interest it must eliminate such conflict
within 90 days, apply to the Commission for permission to continue as Trustee or resign. Any Agent may do the same with like rights and duties. The Trustee shall also be subject to Sections 7.10 and 7.11 hereof.



|Section | 7.04. Trustees Disclaimer.
|------- | ---------------------------



The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall not be
accountable for the Companys use of the proceeds from the Notes or any money paid to the Company or upon the Companys direction under any provision of this Indenture, it shall not be responsible for the use or application of any money
received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture other
than its certificate of authentication.



|Section | 7.05. Notice of Defaults.
|------- | -------------------------



If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to Holders a notice of the Default or
Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its
Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders.



|Section | 7.06. Reports by Trustee to Holders.
|------- | ------------------------------------



Within 60 days after each May 15 beginning with the May 15 following the date of this Indenture, and for so long as Notes remain outstanding, the Trustee
shall mail to the Holders a brief report dated as of such reporting date that complies with TIA §313(a) (but if no event described in TIA §313(a) has occurred within the twelve months preceding the reporting date, no report need be
transmitted). The Trustee also shall comply with TIA §313(b)(2). The Trustee shall transmit all reports as required by TIA §313 by mail in accordance with TIA §313(c).



A copy of each report at the time of its mailing to the Holders shall be mailed to the Company and filed with the Commission
and each stock exchange on which the Notes are listed in accordance with TIA §313(d). The Company shall promptly notify the Trustee when the Notes are listed on any stock exchange and any delisting thereof.



|Section | 7.07. Compensation and Indemnity.
|------- | ---------------------------------



The Company shall pay to the Trustee from time to time such compensation for its acceptance of this Indenture and services hereunder as agreed to between
the Trustee and the Company in writing from time to time. The Trustees compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee promptly upon request for all
reasonable disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation, disbursements and expenses of the Trustees agents and counsel.



The Company shall indemnify the Trustee (in its capacity as
Trustee) or any predecessor Trustee (in its capacity as Trustee) and their agents for, and to hold them harmless against, any and all losses, claims, damages, penalties, fines, liabilities or expenses, including incidental and out-of-pocket
expenses, including taxes (other than taxes based upon or measured by or determined by the income of the Trustee) and reasonable attorneys fees (for purposes of this Article, losses) incurred by it arising out of or in
connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses of enforcing this Indenture against the Company (including this Section 7.07) and defending itself against any claim (whether
asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its powers or duties hereunder, except to the extent such losses may be attributable to its willful misconduct,
negligence or bad faith. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Company shall not relieve the Company of its obligations under this Section 7.07, to the
extent the Company has been prejudiced thereby. The Company shall defend the claim, and the Trustee shall



36



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cooperate in the defense. The Trustee may have separate counsel if in the judgment of the Trustee, (i) the Trustee has
one or more legal defenses available to it that are different from or additional to those available to the Company or (ii) a conflict of interest exists by reason of common representation, and the Company shall pay the reasonable fees and expenses
of such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The Company need not reimburse any expense or indemnify against any loss incurred by the Trustee through the
Trustees own willful misconduct, gross negligence or bad faith.



The obligations of the Company under this Section 7.07 shall survive the satisfaction and discharge of this Indenture, the resignation or removal of the Trustee and payment in full of the Notes through the expiration of the applicable
statute of limitations.



To secure the Companys payment
obligations in this Section, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal, premium, if any, and interest on particular Notes. Such Lien shall
survive the satisfaction and discharge of this Indenture.



When
the Trustee incurs expenses or renders services after an Event of Default specified in Section 6.01(e) or (f) hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended
to constitute expenses of administration under any Bankruptcy Law.



|Section | 7.08. Replacement of Trustee.
|------- | -----------------------------



A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustees acceptance of
appointment as provided in this Section 7.08.



The Trustee may
resign in writing at any time upon 30 days prior notice to the Company and be discharged from the trust hereby created by so notifying the Company. The Holders of a majority in aggregate principal amount of the then outstanding Notes may
remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if:



(a) the Trustee fails to comply with Section 7.10 hereof;



(b) the Trustee is adjudged bankrupt or insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;



(c) a custodian or public officer takes charge of the Trustee or its
property; or



(d) the Trustee becomes incapable of acting.



If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a
majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Company.



If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company, or the
Holders of at least 10% in aggregate principal amount of the then outstanding Notes may, at the expense of the Company, petition any court of competent jurisdiction for the appointment of a successor Trustee.



If the Trustee, after written request by any Holder who has been a Holder for
at least six months, fails to comply with Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee.



37



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A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to
the Company. Thereupon, the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice
of its succession to Holders. Subject to the Lien provided for in Section 7.07 hereof, the retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; provided, however, that all sums owing to
the Trustee hereunder shall have been paid. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the Companys obligations under Section 7.07 hereof shall continue for the benefit of the retiring Trustee.



In the case of an appointment hereunder of a separate or successor Trustee
with respect to the Notes, the Company and each successor or separate Trustee with respect to the Notes shall execute and deliver an Indenture supplemental hereto (1) which shall contain such provisions as shall be deemed necessary or desirable to
confirm that all the rights, powers, trusts and duties of any retiring Trustee with respect to the Notes as to which any such retiring Trustee is not retiring shall continue to be vested in such retiring Trustee and (2) that shall add to or change
any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee, it being understood that nothing herein or in such supplemental indenture shall
constitute such Trustee co-trustees of the same trust and that each such separate, retiring or successor Trustee shall be Trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any such other
Trustee.



|Section | 7.09. Successor Trustee by Merger, etc.
|------- | ---------------------------------------



If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or
banking association, the successor corporation or banking association without any further act shall, if such successor corporation or banking association is otherwise eligible hereunder, be the successor Trustee.



|Section | 7.10. Eligibility; Disqualification
|------- | -----------------------------------



There shall at all times be a Trustee hereunder that is a Person organized and doing business under the laws of the United States of America or of any
state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and surplus of at least $50.0 million (or a
wholly-owned subsidiary of a bank or trust company, or of a bank holding company, the principal subsidiary of which is a bank or trust company having a combined capital and surplus of at least $50.0 million) as set forth in its most recent published
annual report of condition.



This Indenture shall always have a
Trustee who satisfies the requirements of TIA §310(a)(1), (2) and (5). The Trustee is subject to TIA §310(b).



|Section | 7.11. Preferential Collection of Claims Against Company
|------- | -------------------------------------------------------



The Trustee is subject to TIA §311(a), excluding any creditor relationship listed in TIA §311(b). A Trustee who has resigned or been removed
shall be subject to TIA § 311(a) to the extent indicated therein.



ARTICLE 8.



LEGAL DEFEASANCE AND COVENANT
DEFEASANCE



|Section | 8.01. Option to Effect Legal Defeasance or Covenant Defeasance.
|------- | ---------------------------------------------------------------



The Company may, at its option and at any time, elect to have either Section 8.02 or 8.03 hereof be applied to all
outstanding Notes upon compliance with the conditions set forth in this Article 8.



38



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|Section | 8.02. Legal Defeasance and Discharge.
|------- | -------------------------------------



Upon the Companys exercise under Section 8.01 of the option applicable to this Section 8.02, the Company shall, subject to the satisfaction of the
conditions set forth in Section 8.04, be deemed to have been discharged from its obligations with respect to all outstanding Notes on the date the conditions set forth below are satisfied (hereinafter, Legal Defeasance).
For this purpose, Legal Defeasance means that the Company shall be deemed to have paid and discharged the entire Debt represented by the outstanding Notes, which shall thereafter be deemed to be outstanding only for the purposes of
Section 8.05 and the other Sections of this Indenture referred to in (a) and (b) below, and to have satisfied all its other obligations under the Notes and this Indenture (and the Trustee, on demand of and at the expense of the Company, shall
execute proper instruments acknowledging the same), except for the following provisions which shall survive until otherwise terminated or discharged hereunder: (a) the rights of Holders of outstanding Notes to receive solely from the trust fund
described in Section 8.04, and as more fully set forth in such Section, payments in respect of the principal of, premium, if any, or interest on such Notes when such payments are due, (b) the Companys obligations with respect to such Notes
under Article 2 and Sections 4.01 and 4.02, (c) the rights, powers, trusts, duties and immunities of the Trustee hereunder and the Companys obligations in connection therewith, including without limitation, Section 7.07 and (d) this Article 8.
If the Company exercises under Section 8.01 the option applicable to this Section 8.02, subject to the satisfaction of the conditions set forth in Section 8.04, payment of the Notes may not be accelerated because of an Event of Default. Subject to
compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03.



|Section | 8.03. Covenant Defeasance.
|------- | --------------------------



Upon the Companys exercise under Section 8.01 of the option applicable to this Section 8.03, the Company shall, subject to the satisfaction of the
conditions set forth in Section 8.04, be released from its obligations under the covenants contained in Sections 4.06 and 4.07 hereof, with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 are satisfied
(hereinafter, Covenant Defeasance) and the Notes shall thereafter be deemed not outstanding for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any
thereof) in connection with such covenants, but shall continue to be deemed outstanding for all other purposes hereunder (it being understood that such Notes shall not be deemed outstanding for accounting purposes). For this purpose,
Covenant Defeasance means that, with respect to the outstanding Notes, the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by
reason of any reference elsewhere herein to any such covenant or by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply shall not constitute a Default or an Event of Default
under Section 6.01, but, except as specified above, the remainder of this Indenture and such Notes shall be unaffected thereby. If the Company exercises under Section 8.01 the option applicable to this Section 8.03, subject to the satisfaction of
the conditions set forth in Section 8.04, payment of the Notes may not be accelerated because of an Event of Default specified in clause (c) (with respect to the covenants contained in Sections 4.06 and 4.07 hereof).



|Section | 8.04. Conditions to Legal or Covenant Defeasance.
|------- | -------------------------------------------------



The following shall be the conditions to the application of either Section 8.02 or 8.03 to the outstanding Notes.



The Legal Defeasance or Covenant Defeasance may be exercised only if:



(a) the Company irrevocably deposits with the Trustee, in
trust (the defeasance trust), for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Securities, or a combination of cash in U.S. dollars and non-callable U.S. Government Securities, in an amount
sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal, premium, if any, and interest on the outstanding Notes on the Stated Maturity or on the next redemption date, as the case may be, and
the Company shall specify whether the Notes are being defeased to maturity or to such particular redemption date;



39



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(b) in the case of Legal Defeasance, the Company shall deliver to the Trustee an Opinion of Counsel
reasonably acceptable to the Trustee confirming that (i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (ii) subsequent to the Issue Date, there has been a change in the applicable federal
income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal
Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;



(c) in the case of Covenant Defeasance, the Company shall deliver to the Trustee an Opinion of Counsel reasonably acceptable
to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the
same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;



(d) no Event of Default under Section 6.01(e) or (f) shall have occurred;



(e) such Legal Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default
under, any material agreement or instrument (other than this Indenture) to which the Company or any Subsidiary is a party or by which the Company or any Subsidiary is bound;



(f) the Company shall deliver to the Trustee an Officers Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders over other creditors of the Company with the intent of defeating, hindering, delaying or defrauding such other creditors; and



(g) the Company delivers to the Trustee an Officers Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.



|Section | 8.05. Deposited Cash and U.S. Government Securities to be Held in Trust; Other Miscellaneous Provisions.
|------- | --------------------------------------------------------------------------------------------------------



Subject to Section 8.06, all cash and non-callable U.S. Government
Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the Trustee) pursuant to Section 8.04 in respect of the outstanding Notes shall
be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine,
to the Holders of all sums due and to become due thereon in respect of principal, premium, if any, and interest but such cash and securities need not be segregated from other funds except to the extent required by law.



The Company shall pay and indemnify the Trustee against any tax, fee or other
charge imposed on or assessed against the cash or non-callable U.S. Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law
is for the account of the Holders of the outstanding Notes.



Anything in this Article 8 to the contrary notwithstanding, the Trustee shall deliver or pay to the Company from time to time upon the request of the Company any cash or non-callable U.S. Government Securities held by it as provided in
Section 8.04 which, in the opinion of a nationally recognized firm of independent certified public accountants expressed in a written certification thereof delivered to the Trustee (which may be the certification delivered under Section 8.04(a)),
are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.



40



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|Section | 8.06. Repayment to Company.
|------- | ---------------------------



The Trustee shall promptly, and in any event, no later than five (5) Business Days, pay to the Company after request therefor, any excess money held with
respect to the Notes at such time in excess of amounts required to pay any of the Companys Obligations then owing with respect to the Notes.



Any cash or non-callable U.S. Government Securities deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment
of the principal, premium, if any, or interest on any Note and remaining unclaimed for one year after such principal, premium, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the
Company) shall be discharged from such trust; and the Holder shall thereafter, as an unsecured creditor, look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such cash and securities,
and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, shall at the expense of the Company cause to be published
once, in The New York Timesand The Wall Street Journal(national edition), notice that such cash and securities remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such
notification or publication, any unclaimed balance of such cash and securities then remaining shall be repaid to the Company.



|Section | 8.07. Reinstatement.
|------- | --------------------



If the Trustee or Paying Agent is unable to apply any cash or non-callable U.S. Government Securities in accordance with Section 8.02 or 8.03, as the case
may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Companys obligations under this Indenture and the Notes shall be revived and
reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 until such time as the Trustee or Paying Agent is permitted to apply all such cash and securities in accordance with Section 8.02 or 8.03, as the case may be; provided,
however, that, if the Company makes any payment of principal of, premium, if any, or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders to receive such payment from
the cash and securities held by the Trustee or Paying Agent.



ARTICLE 9.



AMENDMENT, SUPPLEMENT
AND WAIVER



|Section | 9.01. Without Consent of Holders.
|------- | ---------------------------------



Notwithstanding Section 9.02 of this Indenture, the Company and the Trustee may amend or supplement this Indenture or the Notes without the consent of any
Holder to:



(a) evidence the succession of another Person to
the Company and the assumption by any such successor of the obligations and covenants of the Company contained in this Indenture and in the Notes;



(b) to add to the covenants of the Company for the benefit of the Holders of the Notes or to surrender any right or power herein conferred upon the
Company under this Indenture or the Notes;



(c) to add any
additional Events of Default with respect to the Notes;



(d) to
secure the Notes;



(e) to cure any ambiguity or correct or
supplement any provision in this Indenture that may be inconsistent with any other provision; it being understood that any such action made solely to conform this Indenture or the Notes to the final offering memorandum provided to investors in
connection with the initial offering of the Notes by the Company will not be deemed to materially adversely affect the interest of the Holders of any Notes;



41



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(f) to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with
respect to the Notes and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one Trustee;



(g) to modify the legends regarding restrictions on transferability of the
notes, which modifications may not adversely affect the interests of the Holders of any Notes or owners of beneficial interests in the Notes;



(h) provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued in
registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code);



(i) to amend or supplement any provision contained in this Indenture or the Notes; provided that no such amendment or
supplement shall materially adversely affect the interests of the Holders of any Notes then outstanding;



(j) make any change to comply with any requirement of the Commission in order to effect or maintain the qualification of this Indenture under the TIA;



(k) to provide for the issuance of Additional Notes in
accordance with this Indenture; or



(l) to comply with the
rules of any applicable securities depositary.



|Section | 9.02. With Consent of Holders.
|------- | ------------------------------



Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement this Indenture and the Notes with the consent of the
Holders of at least a majority in aggregate principal amount of the Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a purchase of or tender offer or exchange offer
for the Notes), and, subject to Sections 6.04 and 6.07, any existing Default or Event of Default (except a continuing Default or Event of Default in (i) the payment of principal, premium, if any, or interest on the Notes and (ii) in respect of a
covenant or provision which under this Indenture cannot be modified or amended without the consent of the Holder of each Note affected by such modification or amendment) or compliance with any provision of this Indenture or the Notes may be waived
with the consent of the Holders of at least a majority in aggregate principal amount of the Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a purchase of or tender
offer or exchange offer for the Notes).



Without the consent of
each Holder, an amendment or waiver under this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder):



(a) change the Stated Maturity of the principal of, or any installment of interest on, any such Note, or reduce the principal amount thereof, rate of
interest thereon or any amount payable upon redemption thereof, or the currency in which, the principal of and any premium and interest on any such Note is payable, or impair the right to institute suit for the enforcement of any payment on or with
respect to any such Note on or after the Stated Maturity thereof (or, in the case of redemption, on or after the redemption date);



(b) reduce the percentage in principal amount of the outstanding Notes the consent of whose Holders is required to modify or amend this Indenture or the
Notes, or the consent of whose Holders is required for any waiver of compliance with certain provisions of this Indenture or certain defaults hereunder and their consequences provided for in this Indenture; or



(c) modify any of the provisions of this Section 9.02 or Section 6.04, except
to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each outstanding Note affected thereby.



42



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The Company may, but shall not be obligated to, fix a record date for the purpose of determining the
Persons entitled to consent to any supplemental indenture. If a record date is fixed, the Holders on such record date, or their duly designated proxies, and only such Persons, shall be entitled to consent to such supplemental indenture, whether or
not such Holders remain Holders after such record date; provided that unless such consent shall have become effective by virtue of the requisite percentage having been obtained prior to the date which is 120 days after such record date, any
such consent previously given shall automatically and without further action by any Holder be cancelled and of no further effect.



It shall not be necessary for the consent of the Holders under this Section 9.02 to approve the particular form of any proposed amendment or waiver, but
it shall be sufficient if such consent approves the substance thereof.



After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company shall mail to the Holder of each Note affected thereby to such Holders address appearing in the Security Register a notice briefly
describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, shall not, however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver.



|Section | 9.03. Compliance with Trust Indenture Act.
|------- | ------------------------------------------



Every amendment or supplement to this Indenture or the Notes shall be set forth in an amended or supplemental indenture that complies with the TIA as then
in effect.



|Section | 9.04. Revocation and Effect of Consents.
|------- | ----------------------------------------



Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder is a continuing consent by the Holder of a Note and every
subsequent Holder of a Note or portion thereof that evidences the same debt as the consenting Holders Note, even if notation of the consent is not made on any Note. However, any such Holder or subsequent Holder may revoke the consent as to its
Note or portion thereof if the Trustee receives written notice of revocation before the date the waiver, supplement or amendment becomes effective. An amendment, supplement or waiver shall become effective in accordance with its terms and thereafter
shall bind every Holder.



|Section | 9.05. Notation on or Exchange of Notes.
|------- | ---------------------------------------



The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for
all Notes may issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate new Notes that reflect the amendment, supplement or waiver.



Failure to make the appropriate notation or issue a new Note shall not affect
the validity and effect of such amendment, supplement or waiver.



|Section | 9.06. Trustee to Sign Amendments, etc.
|------- | --------------------------------------



The Trustee shall sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not adversely
affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amendment or supplemental indenture until its board of directors (or committee serving a similar function) approves it. In executing any amended or
supplemental indenture, the Trustee shall be entitled to receive and (subject to Section 7.01 hereof) shall be fully protected in relying upon an Officers Certificate and an Opinion of Counsel stating that the execution of such amended or
supplemental indenture is authorized or permitted by this Indenture and that such amended or supplemental indenture is the legal, valid and binding obligations of the Company enforceable against it in accordance with its terms, subject to customary
exceptions and that such amended or supplemental indenture complies with the provisions hereof (including Section 9.03).



43



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ARTICLE 10.



SATISFACTION AND DISCHARGE



|Section | 10.01. Satisfaction and Discharge.
|------- | ----------------------------------



This Indenture shall be discharged and shall cease to be of further effect, except as to surviving rights of registration of transfer or exchange of the
Notes, as to all Notes issued hereunder, when:



(a) either:



(i) all Notes that have been previously
authenticated and delivered (except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has previously been deposited in trust or segregated and held in trust by the Company and is thereafter repaid to
the Company or discharged from the trust) have been delivered to the Trustee for cancellation; or



(ii) (A) all Notes that have not been previously delivered to the Trustee for cancellation, have become due and payable by their terms or
have been called for redemption, and the Company has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Securities, or a
combination thereof, in such amounts as shall be sufficient without consideration of any reinvestment of interest, to pay and discharge the entire Debt on the Notes not previously delivered to the Trustee for cancellation or redemption for
principal, premium, if any, and interest on the Notes to the date of deposit, in the case of Notes that have become due and payable, or to the Stated Maturity or redemption date, as the case may be; (B) the Company has paid all other sums payable by
the Company with respect to the Notes under this Indenture; and (C) the Company has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes at Stated Maturity or on the redemption date, as the
case may be.



in the case of either clause (i)
or (ii):



(x) no Default or Event of Default
shall have occurred and be continuing on the date of such deposit or shall occur as a result of such deposit and such deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company is a
party or by which the Company is bound; and



(y) the Company shall have delivered to the Trustee an Officers Certificate and Opinion of Counsel stating that all conditions precedent relating to the satisfaction and discharge of this Indenture have been satisfied.



|Section | 10.02. Deposited Cash and U.S. Government Securities to be Held in Trust; OtherMiscellaneous Provisions.
|------- | --------------------------------------------------------------------------------------------------------



Subject to Section 10.03, all cash and non-callable U.S. Government
Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 10.02, the Trustee) pursuant to Section 10.01 hereof in respect of the outstanding Notes shall
be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as Paying Agent) as the Trustee may determine,
to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium, if any, and interest but such cash and securities need not be segregated from other funds except to the extent required by law.



|Section | 10.03. Repayment to Company.
|------- | ----------------------------



Any cash or non-callable U.S. Government Securities deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment
of the principal of, premium, if any, or interest on, any



44



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Note and remaining unclaimed for one year after such principal, and premium, if any, or interest has become due and
payable shall be paid to the Company on its request or (if then held by the Company) shall be discharged from such trust; and the Holder shall thereafter, as an unsecured creditor, look only to the Company for payment thereof, and all liability of
the Trustee or such Paying Agent with respect to such cash and securities, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any
such repayment, shall at the expense of the Company cause to be published once, in The New York Timesand The Wall Street Journal(national edition), notice that such cash and securities remains unclaimed and that, after a date
specified therein, which shall not be less than 30 days from the date of such notification or publication, any unclaimed balance of such cash and securities then remaining shall be repaid to the Company.



ARTICLE 11.



MISCELLANEOUS



|Section | 11.01. Trust Indenture Act Controls.
|------- | ------------------------------------



If any provision of this Indenture limits, qualifies or conflicts with another provision which is required to be included in this Indenture by the TIA,
the provision required by the TIA shall control.



|Section | 11.02. Notices.
|------- | ---------------



Any notice or communication by the Company or the Trustee to the other is duly given if in writing and delivered in person or mailed by first class mail
(registered or certified, return receipt requested), facsimile transmission or overnight air courier guaranteeing next-day delivery, to the others address:



If to the Company:



SunGard Data Systems Inc.

680 East Swedesford Road

Wayne, Pennsylvania 19807

Attention: General Counsel

Telecopier No.: (610) 687-3725



With a copy to:



Blank Rome

One Logan Square

Philadelphia, Pennsylvania 19103-6998

Attention: Richard McMahon, Esq.

Telecopier No: (215) 832-5554



If to the Trustee:



The Bank of New York

101 Barclay Street, 8W

New York, New York 10286

Attention: Corporate Trust Administration

Telecopier No.: (212) 815-5707



The Company or the Trustee, by notice to the other, may designate additional or different addresses for subsequent notices or communications.



All notices and communications (other than those sent to the Trustee or
Holders) shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if sent by facsimile transmission;
and



45



---

the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next-day
delivery. All notices and communications to the Trustee or Holders shall be deemed duly given and effective only upon receipt.



Any notice or communication to a Holder shall be mailed by first class mail, certified or registered, return receipt requested, or by overnight air
courier guaranteeing next-day delivery to its address shown on the Security Register. Any notice or communication shall also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or
communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders.



If a notice or communication is mailed in the manner provided above within the time prescribed, it is duly given, whether or not the addressee receives
it. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of any notice with respect to other Holders.



If the Company mails a notice or communication to Holders, it shall mail a
copy to the Trustee and each Agent at the same time.



|Section | 11.03. Communication by Holders with Other Holders.
|------- | ---------------------------------------------------



Holders may communicate pursuant to TIA §312(b) with other Holders with respect to their rights under this Indenture or the Notes. The Company, the
Trustee, the Registrar and anyone else shall have the protection of TIA §312(c).



|Section | 11.04. Certificate and Opinion as to Conditions Precedent.
|------- | ----------------------------------------------------------



Upon any request or application by the Company to the Trustee to take any action under any provision of this Indenture, the
Company shall furnish to the Trustee:



(a) an Officers
Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 11.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been complied with; and



(b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section 11.05 hereof) stating that, in the opinion of such counsel, all such
conditions precedent and covenants have been complied with.



|Section | 11.05. Statements Required in Certificate or Opinion.
|------- | -----------------------------------------------------



Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided
pursuant to TIA §314(a)(4)) shall comply with the provisions of TIA §314(e) and shall include:



(a) a statement that the Person making such certificate or opinion has read such covenant or condition;



(b) a brief statement as to the nature and scope of the examination or
investigation upon which the statements or opinions contained in such certificate or opinion are based;



(c) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable such Person to express
an informed opinion as to whether or not such covenant or condition has been complied with; and



46



---

(d) a statement as to whether or not, in the opinion of such Person, such condition or covenant has been
complied with.



With respect to matters of fact, an Opinion of Counsel may rely
on an Officers Certificate, certificates of public officials or reports or opinions of experts.



|Section | 11.06. Rules by Trustee and Agents.
|------- | -----------------------------------



The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable
requirements for its functions.



|Section | 11.07. No Personal Liability of Directors, Officers, Employees and Stockholders.
|------- | --------------------------------------------------------------------------------



No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, shall have any
liability for any obligations of the Company under the Notes or this Indenture, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver and release may not be effective to waive or release liabilities under the federal securities laws.



|Section | 11.08. Governing Law.
|------- | ---------------------



THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE AND THE NOTES 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. EACH OF THE COMPANY AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.



|Section | 11.09. No Adverse Interpretation of Other Agreements.
|------- | -----------------------------------------------------



This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other Person. Any
such indenture, loan or debt agreement may not be used to interpret this Indenture.



|Section | 11.10. Successors.
|------- | ------------------



All covenants and agreements of the Company in this Indenture and the Notes shall bind its successors. All covenants and agreements of the Trustee in this
Indenture shall bind its successors.



|Section | 11.11. Severability.
|------- | --------------------



In case any provision in this Indenture or in the Notes 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.



|Section | 11.12. Counterpart Originals.
|------- | -----------------------------



The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.



47



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|Section | 11.13. Table of Contents, Headings, etc.
|------- | ----------------------------------------



The Table of Contents, Cross-Reference Table and Headings in this Indenture have been inserted for convenience of reference only, are not to be considered
a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof.



|Section | 11.14. Qualification of this Indenture.
|------- | ---------------------------------------



The Company shall qualify this Indenture under the TIA in accordance with the terms and conditions of any Registration Rights Agreement and shall pay all
reasonable costs and expenses (including attorneys fees and expenses for the Company, the Trustee and the Holders) incurred in connection therewith, including, but not limited to, costs and expenses of qualification of this Indenture and the
Notes and printing this Indenture and the Notes. The Trustee shall be entitled to receive from the Company any such Officers Certificates, Opinions of Counsel or other documentation as it may reasonably request in connection with any such
qualification of this Indenture under the TIA.



[Signatures on
following page]



48



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SIGNATURES



Dated as of January 15, 2004



COMPANY:SUNGARD DATA SYSTEMS, INC.By:

/s/ Michael J. RuaneName: Michael J. RuaneTitle: Senior Vice President - Finance & Chief Financial Officer




---

TRUSTEE:THE BANK OF NEW YORKBy:

/s/ Cynthia ChaneyName:Cynthia J. ChaneyTitle: Vice President




---

EXHIBIT A

---



(Face of Note)



[3.750] [4.875]% SENIOR NOTES DUE [2009] [2014]



CUSIP



|    |  |  
|--- |  | -
|No. |  | $



SunGard Data Systems
Inc.



promises to pay to CEDE & CO., INC. or registered assigns, the
principal sum of  Dollars
($) on [            ],
[            ].



Interest Payment Dates: January 15 and July 15, commencing [            ], 20[    ].



Record Dates: January 1 and July 1.



Dated: , 20[].



A-1



---

IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its duly
authorized officer.



SUNGARD DATA SYSTEMS INC.By:Name:Title:






This is one of the [Global]

Notes referred to in the

within-mentioned Indenture:



|                      |  |                     
|--------------------- |  | --------------------
|THE BANK OF NEW YORK,
|as Trustee           
|                      | 
|By:                   |  |                     
|                      |  | Authorized Signatory
|                     
|Dated ,
20           



A-2



---

(Back of Note)



[3.750] [4.875]% SENIOR NOTES DUE [2009] [2014]



[Insert the Global Note Legend, if applicable pursuant to the terms of the Indenture]



[Insert the Private Placement Legend, if applicable pursuant to the terms of the Indenture]



Capitalized terms used herein shall have the meanings assigned to them in the
Indenture referred to below unless otherwise indicated.



1.
Interest. SUNGARD DATA SYSTEMS, INC., a Delaware corporation (the Company), promises to pay interest on the principal amount of this Note at
[            ]% per annum until maturity and shall pay Additional Interest, if any, as provided in Section 8 of the Registration Rights Agreement. The Company shall pay interest
semi-annually on January 15 and July 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each an Interest Payment Date). Interest on the Notes shall accrue from the most recent
date to which interest has been paid or, if no interest has been paid, from the date of issuance; provided, however, that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date
referred to on the face hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be
[            ]. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.



2. Method of Payment. The Company shall pay interest on the Notes (except defaulted interest) to the Persons in whose name this Note (or
one or more Predecessor Notes) is registered at the close of business on the January 1 or July 1 next preceding the Interest Payment Date, even if such Notes are cancelled after such record date and on or before such Interest Payment Date, except as
provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes shall be payable as to principal, premium, if any, and interest and Additional Interest, if any, at the office or agency of the Company maintained for such
purpose, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the Security Register; provided, however, that payment by wire transfer of immediately available
funds shall be required with respect to principal of and interest and Additional Interest, if any, and premium, if any, on, all Global Notes and all other Notes the Holders of which shall have provided wire transfer instructions to the Company or
the Paying Agent prior to the record date for the relevant interest payment. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.



3. Paying Agent and Registrar. Initially, The
Bank of New York, the Trustee under the Indenture, shall act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity.



4. Indenture. The Company issued the Notes under
an Indenture dated as of January 15, 2004 (Indenture) between the Company and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note
conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling.



5. Optional Redemption. The Company may, at its option, redeem the Notes, in whole or from time to time in part, after giving the notice
required pursuant to Section 3.03 of the Indenture, at a redemption price equal to the greater of:



(i) 100% of the aggregate principal amount of the Notes to be redeemed; and



(ii) the sum of the present values of the remaining scheduled payments of principal and interest on the
Notes, not including unpaid interest accrued to the redemption date, discounted to the redemption



A-3



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date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate plus 10 basis points for the 2009 Notes, or the Treasury Rate plus 15 basis points for the 2014 Notes, as applicable, plus, in each case, unpaid interest on the Notes being redeemed accrued to the redemption date (subject to the right of
Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date).



Any notice to the Holders of a redemption pursuant to this paragraph (5) shall include the appropriate calculation of the redemption price, but need not
include the redemption price itself. The actual redemption price, calculated as described above, shall be set forth in an Officers Certificate delivered to the Trustee no later than two Business Days prior to the redemption date. Any
prepayment pursuant to this paragraph shall be made pursuant to the provisions of Sections 3.01 through 3.06 of the Indenture.



6. Mandatory Redemption. The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Notes.



7. Notice of Redemption. Notice of redemption
shall be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $1,000 may be redeemed in part but only in whole
multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. On and after the redemption date interest ceases to accrue on Notes or portions thereof called for redemption.



8. Denominations, Transfer, Exchange. The Notes are in
registered form without coupons in denominations of $1,000 and integral multiples of $1,000. [This Note shall represent the aggregate principal amount of outstanding Notes from time to time endorsed hereon and the aggregate principal amount of Notes
represented hereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions.]1The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and
the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed
portion of any Note being redeemed in part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding
Interest Payment Date.



9. Persons Deemed Owners.
The registered Holder of a Note may be treated as its owner for all purposes.



10. Amendment, Supplement and Waiver. Subject to certain exceptions, the Company and the Trustee may amend or supplement the Indenture and the Notes with the consent of the Holders of at least a majority
in aggregate principal amount of the Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a purchase of or tender offer or exchange offer for the Notes), and, subject to
Sections 6.04 and 6.07 of the Indenture, any existing Default or Event of Default (except a continuing Default or Event of Default in (i) the payment of principal, premium, if any, or interest on the Notes and (ii) in respect of a covenant or
provision which under this Indenture cannot be modified or amended without the consent of the Holder of each Note affected by such modification or amendment) or compliance with any provision of the Indenture or the Notes may be waived with the
consent of the Holders of at least a majority in aggregate principal amount of the Notes, including Additional Notes, if any, then outstanding voting as a single class (including consents obtained in connection with a purchase of or tender offer or
exchange offer for the Notes).



The Company and the Trustee may
amend or supplement the Indenture or the Notes without the consent of any Holder to evidence the succession of another Person to the Company and the assumption by any such successor of the obligations and covenants of the Company contained in the
Indenture and in the Notes; to add to the covenants of the Company for the benefit of the Holders of the Notes or to surrender any right or power herein conferred upon the Company under the Indenture or the Notes; to add any additional Events of
Default with respect

---

|1 | Include only if a global note.
|- | ------------------------------



A-4



---

to the Notes; to secure the Notes; to cure any ambiguity or correct or supplement any provision in the Indenture that may
be inconsistent with any other provision; it being understood that any such action made solely to conform the Indenture or the Notes to the final offering memorandum provided to investors in connection with the initial offering of the Notes by the
Company will not be deemed to materially adversely affect the interest of the Holders of any Notes; to evidence and provide for the acceptance of appointment hereunder by a successor Trustee with respect to the Notes and to add to or change any of
the provisions of the Indenture as shall be necessary to provide for or facilitate the administration of the trusts thereunder by more than one Trustee; to modify the legends regarding restrictions on transferability of the Notes, which
modifications may not adversely affect the interests of the Holders of any Notes or owners of beneficial interests in the Notes; provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the
uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code); to amend or supplement any provision contained in
the Indenture or the Notes; provided that no such amendment or supplement shall materially adversely affect the interests of the Holders of any Notes then outstanding; make any change to comply with any requirement of the Commission in order
to effect or maintain the qualification of the Indenture under the TIA; to provide for the issuance of Additional Notes in accordance with the Indenture; or to comply with the rules of any applicable securities depositary.



11. Defaults and Remedies. Each of the following is an Event of
Default under the Indenture: failure to make the payment of any interest on the 2009 Notes or the 2014 Notes, as the case may be, when the same becomes due and payable, and such failure continues for a period of 30 calendar days; failure to make the
payment of any principal of, or premium, if any, on, any of the 2009 Notes or the 2014 Notes, as the case may be, when the same becomes due and payable at its Stated Maturity, upon acceleration, redemption or otherwise; failure to comply with any
covenant or agreement in the Notes or in this Indenture, and such failure continues for 90 calendar days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of
at least 25% in principal amount of the outstanding Notes of the applicable series a written notice specifying such default and requiring it to be remedied and stating that such notice is a Notice of Default under the Indenture; default
(i) in the payment of any scheduled principal of or premium, if any, or interest on any Debt of the Company or any Subsidiary of the Company (other than the Notes), aggregating more than $75.0 million in principal amount, when due after giving
effect to any applicable grace period or (ii) in the performance of any other term or provision of any Debt of the Company or any Subsidiary of the Company (other than the Notes), in excess of $75.0 million principal amount that results in such Debt
becoming or being declared due and payable prior to the date on which it would otherwise become due and payable, and such acceleration shall not have been rescinded or annulled, or such Debt shall not have been discharged, within a period of 15 days
after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Notes, a written notice specifying such default and
stating that such notice is a Notice of Default under the Indenture; and certain events of bankruptcy, insolvency or reorganization affecting the Company or any of its Significant Subsidiaries.



If any Event of Default occurs and is continuing, the Trustee or the Holders
of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency described in
the Indenture, all outstanding Notes shall become due and payable without further action or notice. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in
aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders notice of any continuing Default or Event of Default (except a Default or Event of Default
relating to the payment of principal or interest or Additional Interest) if it determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee
may on behalf of the Holders of all of the Notes waive any existing Default or Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or Additional Interest on, or the
principal of, the Notes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required upon becoming aware of any Default or Event of Default, to deliver to the Trustee a
statement specifying such Default or Event of Default.



A-5



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12. Trustee Dealings with Company. Subject to certain limitations, the Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee.



13. No Recourse Against Others. No past, present or future
director, officer, employee, incorporator or stockholder of the Company, as such, shall have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such
obligations or their creation. Each Holder by accepting a Note waives and releases all such liability.



14. Authentication. This Note shall not be valid until authenticated by the manual signature of the Trustee or an authenticating agent.



15. Abbreviations. Customary abbreviations may
be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (=
Uniform Gifts to Minors Act).



16. Additional Rights of
Holders of Restricted Global Notes and Restricted Definitive Notes. In addition to the rights provided to Holders under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes that are Initial Notes shall have all
the rights set forth in the Registration Rights Agreement, dated as of January 15, 2004, between the Company and the parties named on the signature pages thereto or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted
Definitive Notes shall have the rights set forth in one or more registration rights agreement, if any, among the Company and the other parties thereto, relating to rights given by the Company to the purchasers of any Additional Notes.



17. CUSIP Numbers. Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is
made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.



The Company shall furnish to any Holder upon written request and without
charge a copy of the Indenture. Requests may be made to:



SunGard Data Systems Inc.

680 East Swedesford Road

Wayne, Pennsylvania 19807



18. Governing Law. The internal law of the State of New York shall govern and be used to construe this Note without giving effect to
applicable principals of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby.



A-6



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Assignment Form



To assign this Note, fill in the form below:



(I) or (we) assign and transfer this Note to





(Insert
assignees social security or other tax I.D. no.)

















(Print or type
assignees name, address and zip code)



and irrevocably appoint

as agent to transfer this Note on the
books of the Company. The agent may substitute another to act for him.







|      |  |                                                             
|----- |  | ------------------------------------------------------------
|Date: |  | Your Signature:                                             
|      |  | (Sign exactly as your name appears on the face of this Note)
|      | 
|      |  | Signature Guarantee:                                        



A-7



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SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE



The following exchanges of a part of this Global Note for an interest in
another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made:



|                 |  |                                                            |  |                                                            |  |                                                                            |  |                                                               
|---------------- |  | ---------------------------------------------------------- |  | ---------------------------------------------------------- |  | -------------------------------------------------------------------------- |  | --------------------------------------------------------------
|Date of Exchange |  | Amount of decrease in Principal Amount of this Global Note |  | Amount of increase in Principal Amount of this Global Note |  | Principal Amount of this Global Note following such decrease (or increase) |  | Signature of authorized signatory of Trustee or Note Custodian



---

EXHIBIT B



FORM OF CERTIFICATE OF TRANSFER



SunGard Data Systems Inc.

680 East Swedesford Road

Wayne, Pennsylvania 19807



The Bank of New York

101 Barclay Street, 8W

New York, New York 10286

Attention: Corporate Trust Administration

Telecopier No.: (212) 815-5707



Re:    [        ]% Senior Notes due [        ]



Reference is hereby made to the Indenture, dated as of January
15, 2004 (the Indenture), among SunGard Data Systems, Inc., as issuer (the Company), and The Bank of New York, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in
the Indenture.



, (the Transferor) owns and proposes to transfer the Note[s] or interest in such Note[s]
specified in Annex A hereto, in the principal amount of $ in such Note[s] or interests (the Transfer), to
 (the Transferee), as further specified in Annex A hereto. In connection with the Transfer, the
Transferor hereby certifies that:



[CHECK ALL THAT APPLY]



1. ̈Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Definitive Note Pursuant to Rule 144A. The Transfer is
being effected pursuant to and in accordance with Rule 144A under the United States Securities Act of 1933, as amended (the Securities Act), and, accordingly, the Transferor hereby further certifies that the beneficial interest or
Definitive Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect to which such Person
exercises sole investment discretion, and such Person and each such account is a qualified institutional buyer within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with
any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Definitive Note and in the Indenture and the Securities Act.



2. ̈Check if Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule
903 or Rule 904 under the Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside
the United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore
securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of
Rule 903(b) or Rule 904(a) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the
expiration of the Distribution Compliance Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Definitive Note and in the
Indenture and the Securities Act.



B-1



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3. ̈Check and complete if Transferee will take delivery of a beneficial interest in the IAI Global Note or a Definitive Note pursuant to any provision of the Securities Act other than Rule 144A or
Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act
and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one):



(a) ̈such Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act;



or



(b) ̈such Transfer is being effected to the Company or a subsidiary thereof;



or



(c) ̈such Transfer is being effected pursuant to an effective registration statement under the
Securities Act and in compliance with the prospectus delivery requirements of the Securities Act;



or



(d) ̈such Transfer is being effected to an Institutional Accredited Investor and pursuant to an
exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under
the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the requirements of the exemption claimed, which certification is supported
by (1) a certificate executed by the Transferee in the form of Exhibit D to the Indenture and (2) if such Transfer is in respect of a principal amount of Notes at the time of transfer of less than $250,000, an Opinion of Counsel provided by the
Transferor or the Transferee (a copy of which the Transferor has attached to this certification), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of
the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Note and/or the Definitive Notes and in the Indenture and the
Securities Act.



4. ̈Check if Transferee will take delivery of a beneficial interest in an Unrestricted Global Note or of an Unrestricted Definitive
Note.



(a) ̈Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the
Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no
longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.



(b) ̈Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained
in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with
the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private
Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture.



B-2



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(c) ̈Check if Transfer is Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other
than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the
Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or
Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture.



This certificate and the statements contained herein are made for your
benefit and the benefit of the Company.



[Insert Name of Transferor]By:Name:Title:Dated:




B-3



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ANNEX A TO CERTIFICATE OF TRANSFER



|1. | The Transferor owns and proposes to transfer the following:
|-- | -----------------------------------------------------------





|      |  |   |  |                                      
|----- |  | - |  | -------------------------------------
|      |  |   |  | [CHECK ONE OF (a) OR (b)]            
|      |  |  
|(a)   |  |  ̈ |  | a beneficial interest in the:        
|      |  |  
|(i)   |  |  ̈ |  | 144A Global Note (CUSIP ), or        
|      |  |  
|(ii)  |  |  ̈ |  | Regulation S Global Note (CUSIP ), or
|      |  |  
|(iii) |  |  ̈ |  | IAI Global Note (CUSIP ); or         
|      |  |  
|(b)   |  |  ̈ |  | a Restricted Definitive Note.        



|2. | After the Transfer the Transferee will hold:
|-- | --------------------------------------------





|      |  |   |  |                                      
|----- |  | - |  | -------------------------------------
|      |  |   |  | [CHECK ONE OF (a), (b) OR (c)]       
|      |  |  
|(a)   |  |  ̈ |  | a beneficial interest in the:        
|      |  |  
|(i)   |  |  ̈ |  | 144A Global Note (CUSIP ), or        
|      |  |  
|(ii)  |  |  ̈ |  | Regulation S Global Note (CUSIP ), or
|      |  |  
|(iii) |  |  ̈ |  | IAI Global Note (CUSIP ); or         
|      |  |  
|(iv)  |  |  ̈ |  | Unrestricted Global Note (CUSIP ); or
|      |  |  
|(b)   |  |  ̈ |  | a Restricted Definitive Note; or     
|      |  |  
|(c)   |  |  ̈ |  | an Unrestricted Definitive Note,     



in accordance with the
terms of the Indenture.



B-4



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EXHIBIT C



FORM OF CERTIFICATE OF EXCHANGE



SunGard Data Systems Inc.

680 East Swedesford Road

Wayne, Pennsylvania 19807



The Bank of New York

101 Barclay Street, 8W

New York, New York 10286

Attention: Corporate Trust Administration

Telecopier No.: (212) 815-5707



Re:   [            ]% Senior Notes due
[            ]



Reference is hereby made to the Indenture, dated as of January 15, 2004 (the Indenture), among SunGard Data Systems, Inc., as issuer (the Company), and The Bank of New York, as
trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.



, (the
Owner) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $ in such Note[s] or
interests (the Exchange). In connection with the Exchange, the Owner hereby certifies that:



1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted Definitive Notes or Beneficial
Interests in an Unrestricted Global Note



(a) ̈Check if Exchange is from beneficial interest in a Restricted Global
Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owners beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal
amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owners own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Note and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the Securities Act), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required
in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States.



(b) ̈Check if Exchange is from beneficial interest in a Restricted Global Note to Unrestricted Definitive Note. In connection with the Exchange of the Owners
beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owners own account without transfer, (ii) such Exchange has been
effected in compliance with the transfer restrictions applicable to the Restricted Global Note and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend
are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States.



(c) ̈Check if Exchange is from Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owners Exchange of a
Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owners own account without transfer, (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States.



(d) ̈Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owners Exchange of a Restricted Definitive Note
for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owners own account without transfer, (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained



C-1



---

in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States.



2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial
Interests in Restricted Global Notes



(a) ̈Check if Exchange is from beneficial interest in a Restricted Global Note to Restricted
Definitive Note. In connection with the Exchange of the Owners beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note
is being acquired for the Owners own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act.



(b) ̈Check
if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the Owners Restricted Definitive Note for a beneficial interest in the [CIRCLE ONE] 144A Global Note,
Regulation S Global Note, IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owners own account without transfer and (ii) such Exchange has been effected in
compliance with the transfer restrictions applicable to the Restricted Definitive Note and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United States. Upon
consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global
Note and in the Indenture and the Securities Act.



C-2



---

This certificate and the statements contained herein are made for your benefit and the benefit of the
Company.



[Insert Name of Transferor]By:Name:Title:Dated:




C-3



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EXHIBIT D



FORM OF CERTIFICATE FROM

ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR



SunGard Data
Systems Inc.

680 East Swedesford Road

Wayne, Pennsylvania
19807



The Bank of New York

101 Barclay Street, 8W

New York, New York 10286

Attention: Corporate Trust Administration

Telecopier No.: (212) 815-5707



Re:
  [            ]% Senior Notes due [            ]



Reference is hereby made to the Indenture, dated as of January 15, 2004 (the Indenture), among SunGard
Data Systems, Inc., as issuer (the Company), and The Bank of New York, as trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.



In connection with our proposed purchase of
$ aggregate principal amount of:



(a) ̈a
beneficial interest in a Global Note, or



(b) ̈a Definitive Note,



we confirm that:



1. We understand that any subsequent transfer of the Notes or any interest
therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such
restrictions and conditions and the United States Securities Act of 1933, as amended (the Securities Act).



2. We understand that the offer and sale of the Notes have not been registered under the Securities Act, and that the Notes and any interest therein may
not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so
only (A) to the Company or any subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a qualified institutional buyer (as defined therein), (C) to an institutional accredited investor (as defined
below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a signed letter substantially in the form of this letter and, if such transfer is in respect of a principal amount of
Notes, at the time of transfer of less than $250,000, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities Act, (D) outside the United States in accordance with Rule
904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144(k) under the Securities Act or (F) pursuant to an effective registration statement under the Securities Act, and we further agree to provide to any Person
purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice advising such purchaser that resales thereof are restricted as stated
herein.



---

3. We understand that, on any proposed resale of the Notes or beneficial interest therein, we will be
required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that
the Notes purchased by us will bear a legend to the foregoing effect.



4. We are an institutional accredited investor (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. We have had access to such financial and other information and have
been afforded the opportunity to ask such questions of representatives of the Company and receive answers thereto, as we deem necessary in connection with our decision to purchase the Notes.



5. We are acquiring the Notes or beneficial interest therein purchased by us
for our own account or for one or more accounts (each of which is an institutional accredited investor) as to each of which we exercise sole investment discretion and are not acquiring the Notes with a view to any distribution thereof in
a transaction that would violate the Securities Act of the securities laws of any state of the United States or any other applicable jurisdiction.



You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party
in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. This letter shall be governed by, and construed in accordance with, the laws of the State of New York.



[Insert Name of Accredited Investor]By:Name:Title:




Dated:



5