Exhibit 4.2


 


EXECUTION VERSION


 





 



 


REGISTRATION RIGHTS AGREEMENT


 


Dated as of March 18, 2015


 


Among


 


Omega
Healthcare Investors, Inc.


 


and


 


THE GUARANTORS NAMED HEREIN


 


as Issuers,


 


and


 


J.P. MORGAN SECURITIES LLC,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

CREDIT AGRICOLE SECURITIES (USA) INC.

RBC CAPITAL MARKETS, LLC


 


On behalf of the several Initial
Purchasers


 


4.500% Senior Notes due 2027


 





 



 




    	 



    	 



    

 


TABLE OF CONTENTS


 


	 	 	Page
	 	 	 
	1.	Definitions	1
	 	 	 
	2.	Exchange Offer	5
	 	 	 
	3.	Shelf Registration	8
	 	 	 
	4.	Additional Interest	10
	 	 	 
	5.	Registration Procedures	11
	 	 	 
	6.	Registration Expenses	19
	 	 	 
	7.	Indemnification and Contribution.	20
	 	 	 
	8.	Rules 144 and 144A	23
	 	 	 
	9.	Underwritten Registrations	24
	 	 	 
	10.	Miscellaneous	24


 




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REGISTRATION RIGHTS AGREEMENT


 


This Registration Rights Agreement (this “Agreement”)
is dated as of March 18, 2015, among OMEGA HEALTHCARE INVESTORS, INC., a Maryland corporation (the “Company”),
the subsidiaries of the Company listed on the signature pages hereto (collectively, and together with any entity that in the future
executes a supplemental indenture pursuant to which such entity agrees to guarantee the Notes (as hereinafter defined), the “Guarantors,”
and together with the Company, the “Issuers”), J.P. MORGAN SECURITIES LLC, MERRILL LYNCH, PIERCE, FENNER &
SMITH INCORPORATED, CREDIT AGRICOLE SECURITIES (USA) INC. and RBC CAPITAL MARKETS, LLC, collectively on behalf of the several initial
purchasers (collectively, the “Initial Purchasers”) listed on Schedule 1 to the Purchase Agreement (as defined
below).


 


This Agreement is entered into in connection
with the Purchase Agreement by and among the Issuers and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Credit Agricole Securities (USA) Inc. and RBC Capital Markets, LLC, collectively on behalf of the Initial Purchasers,
dated as of March 11, 2015 (the “Purchase Agreement”), which provides for, among other things, the sale by the
Company to the Initial Purchasers of $700,000,000 aggregate principal amount of the Company’s 4.500% Senior Notes due 2027
(the “Notes”) guaranteed on a senior basis by the Guarantors (the “Guarantees”).  In
order to induce the Initial Purchasers to enter into the Purchase Agreement, the Issuers have agreed to provide the registration
rights set forth in this Agreement for the benefit of the Initial Purchasers and any subsequent holder or holders of the Notes.  The
execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligation to purchase the Notes under
the Purchase Agreement.


 


The parties hereby agree as follows:


 


1.         Definitions


 


As used in this Agreement, the following terms
shall have the following meanings:


 


Additional
Interest:  See Section 4(a) hereof.


 


Additional
Notes:  shall have the meaning ascribed thereto in the Indenture.


 


Advice:  See
the last paragraph of Section 5 hereof.


 


Agreement:  See
the introductory paragraphs hereto.


 


Applicable
Period:  See Section 2(b) hereof.


 


Application:  See
Section 7(a) hereof.


 


Business
Day:  Any day that is not a Saturday, Sunday or a day on which banking institutions in New York are authorized
or required by law to be closed.


 




    	 



    	 



    

 


Company:  See
the introductory paragraphs hereto.


 


Effectiveness
Date:  With respect to (i) the Exchange Offer Registration Statement, the 270th day after the Issue Date
and (ii) any Shelf Registration Statement, the 60th day after the Filing Date with respect thereto; provided, however,
that if the Effectiveness Date would otherwise fall on a day that is not a Business Day, then the Effectiveness Date shall be the
next succeeding Business Day.


 


Effectiveness
Period:  See Section 3(a) hereof.


 


Event
Date:  See Section 4(b) hereof.


 


Exchange
Act:  The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder.


 


Exchange
Notes:  See Section 2(a) hereof.


 


Exchange
Offer:  See Section 2(a) hereof.


 


Exchange
Offer Registration Statement:  See Section 2(a) hereof.


 


FINRA:  Financial
Industry Regulatory Authority, Inc.


 


Filing
Date:  (A) If no Registration Statement has been filed by the Company pursuant to this Agreement, the
220th day after the Issue Date; and (B) in any other case (which may be applicable notwithstanding the consummation of the
Exchange Offer), the 60th day after the delivery of a Shelf Notice as required pursuant to Section 2(c) hereof; provided,
however, that if the Filing Date would otherwise fall on a day that is not a Business Day, then the Filing Date shall be
the next succeeding Business Day.


 


Guarantees:  See
the introductory paragraphs hereto.


 


Guarantors:  See
the introductory paragraphs hereto.


 


Holder:  Any
holder of a Registrable Note or Registrable Notes.


 


Indenture:  The
Indenture, dated as of March 18, 2015, by and among the Company, the Guarantors and U.S. Bank National Association, as Trustee,
pursuant to which the Notes are being issued, as amended or supplemented from time to time in accordance with the terms thereof.


 


Information:  See
Section 5(o) hereof.


 


Initial
Purchasers:  See the introductory paragraphs hereto.


 


Initial
Shelf Registration:  See Section 3(a) hereof.


 


Inspectors:  See
Section 5(o) hereof.


 




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Issue
Date:  March 18, 2015, the date of the original issuance of the Notes.


 


Issuers:  See
the introductory paragraphs hereto.


 


Notes:  See
the introductory paragraphs hereto.


 


Participant:  See
Section 7(a) hereof.


 


Participating
Broker-Dealer:  See Section 2(b) hereof.


 


Person:  An
individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated association,
union, business association, firm or other legal entity.


 


Private
Exchange:  See Section 2(b) hereof.


 


Private
Exchange Notes:  See Section 2(b) hereof.


 


Prospectus:  The
prospectus included in any Registration Statement (including, without limitation, any prospectus subject to completion and a prospectus
that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance
upon Rule 430A under the Securities Act and any “issuer free writing prospectus” as defined in Rule 433 under
the Securities Act), as amended or supplemented by any prospectus supplement, and all other amendments and supplements to the Prospectus,
including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such
Prospectus.


 


Purchase
Agreement:  See the introductory paragraphs hereof.


 


Records:  See
Section 5(o) hereof.


 


Registrable
Notes:  Each Note (and the related Guarantees) upon its original issuance and at all times subsequent thereto,
each Exchange Note (and the related Guarantees) as to which Section 2(c)(iv) hereof is applicable upon original issuance and
at all times subsequent thereto and each Private Exchange Note (and the related Guarantees) upon original issuance thereof and
at all times subsequent thereto, until, in each case, the earliest to occur of (i) a Registration Statement (other than, with
respect to any Exchange Note as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement)
covering such Note, Exchange Note or Private Exchange Note has been declared effective by the SEC and such Note, Exchange Note
or such Private Exchange Note, as the case may be, has been disposed of in accordance with such effective Registration Statement,
(ii) such Note has been exchanged pursuant to the Exchange Offer for an Exchange Note or Exchange Notes (and the related Guarantees)
that may be resold without restriction under the Securities Act, (iii) such Note, Exchange Note or Private Exchange Note (and
the related Guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture or (iv) such Note or Private
Exchange Note, as the case may be, shall have been otherwise transferred by the holder thereof and a new security not bearing a
legend restricting further transfer shall have been delivered by the


 




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Company and subsequent disposition of such
new security shall not require registration or qualification under the Securities Act.


 


Registration
Statement:  Any registration statement of the Company that covers any of the Notes, the Exchange Notes or
the Private Exchange Notes (and the related Guarantees) filed with the SEC under the Securities Act, including the Prospectus,
amendments and supplements to such registration statement, including post-effective amendments, all exhibits, and all material
incorporated by reference or deemed to be incorporated by reference in such registration statement.


 


Regulatory
Requirements:  See the last paragraph of this Section 1.


 


Rule
144:  Rule 144 under the Securities Act.


 


Rule
144A:  Rule 144A under the Securities Act.


 


Rule
405:  Rule 405 under the Securities Act.


 


Rule
415:  Rule 415 under the Securities Act.


 


Rule
424:  Rule 424 under the Securities Act.


 


SEC:  The
U.S. Securities and Exchange Commission.


 


Securities
Act:  The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.


 


Shelf
Notice:  See Section 2(c) hereof.


 


Shelf
Registration:  See Section 3(b) hereof.


 


Shelf
Registration Statement:  Any Registration Statement relating to a Shelf Registration.


 


Shelf
Suspension Period:  See Section 3(a) hereof.


 


Subsequent
Shelf Registration:  See Section 3(b) hereof.


 


TIA:  The
Trust Indenture Act of 1939, as amended.


 


Trustee:  The
trustee under the Indenture and the trustee (if any) under any indenture governing the Exchange Notes and Private Exchange Notes
(and the related Guarantees).


 


Underwritten
registration or underwritten offering:  A registration in which securities of the Company are sold to an underwriter
for reoffering to the public.


 


Except as otherwise specifically provided,
all references in this Agreement to acts, laws, statutes, rules, regulations, releases, forms, no-action letters and other regulatory


 




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requirements (collectively, “Regulatory
Requirements”) shall be deemed to refer also to any amendments thereto and all subsequent Regulatory Requirements adopted
as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed
to amend or replace Rule 144A.


 


2.         Exchange
Offer


 


(a)       Unless
the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, the Issuers shall use
commercially reasonable efforts to file with the SEC, no later than the Filing Date, a Registration Statement (the “Exchange
Offer Registration Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange
Offer”) to exchange any and all of the Registrable Notes for a like aggregate principal amount of debt securities of
the Company (the “Exchange Notes”), guaranteed on a senior basis by the Guarantors, that are identical in all
material respects to the Notes, except that (i) the Exchange Notes shall contain no restrictive legend thereon and (ii) interest
thereon shall accrue from the last date on which interest was paid on the Notes or if no such interest has been paid, from
the Issue Date, and which are entitled to the benefits of the Indenture or a trust indenture which is identical in all material
respects to the Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply
with the TIA) and which, in either case, conforms to the requirements necessary for qualification under the TIA.  The
Exchange Offer shall comply with all applicable tender offer rules and regulations under the Exchange Act and other applicable
laws.  The Issuers shall (x) use commercially reasonable efforts to cause the Exchange Offer Registration Statement
to be declared effective under the Securities Act on or before the Effectiveness Date; (y) keep the Exchange Offer open for
at least 30 days (or longer if required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders;
and (z) consummate the Exchange Offer on or prior to the 360th day following the Issue Date.


 


Each Holder (including, without limitation,
each Participating Broker-Dealer) who participates in the Exchange Offer will be required to represent to the Issuers in writing
(which may be contained in the applicable letter of transmittal) that:  (i) any Exchange Notes acquired in exchange
for Registrable Notes tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Notes,
whether or not such recipient is such Holder itself; (ii) at the time of the commencement or consummation of the Exchange
Offer neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder
has an arrangement or understanding with any Person to participate in the “distribution” (within the meaning of the
Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act; (iii) neither the Holder nor,
to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder is an “affiliate”
(as defined in Rule 405) of the Company or, if it is an affiliate of the Company, it will comply with the registration and
prospectus delivery requirements of the Securities Act to the extent applicable and will provide information to be included in
the Shelf Registration Statement in accordance with Section 5 hereof in order to have their Notes included in the Shelf Registration
Statement and benefit from the provisions regarding Additional Interest in Section 4 hereof; (iv) neither such Holder nor,
to the actual knowledge of such Holder, any other Person receiving Exchange Notes from such Holder is engaging in or intends to
engage in a distribution of the Exchange Notes; and (v) if such Holder is a Participating Broker-Dealer, such Holder has


 




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acquired the Registrable Notes as a result
of market-making activities or other trading activities and that it will comply with the applicable provisions of the Securities
Act (including, but not limited to, the prospectus delivery requirements thereunder) in connection with any resale of the Exchange
Notes.


 


Upon consummation of the Exchange Offer in
accordance with this Section 2, the provisions of this Agreement shall continue to apply, mutatis mutandis,
solely with respect to Registrable Notes that are Private Exchange Notes, Exchange Notes as to which Section 2(c)(iv) is applicable
and Exchange Notes held by Participating Broker-Dealers, and the Company shall have no further obligation to register Registrable
Notes (other than Private Exchange Notes and Exchange Notes as to which clause 2(c)(iv) hereof applies) pursuant to Section 3
hereof.


 


No securities other than the Exchange Notes
shall be included in the Exchange Offer Registration Statement or exchange notes and related guarantees issuable in respect of
Additional Notes.


 


(b)       The
Issuers shall include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan
of Distribution,” in the form attached hereto as Exhibit A or as otherwise, reasonably acceptable to the Initial Purchasers,
which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential
“underwriter” status of any broker-dealer that is the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer (a “Participating Broker-Dealer”),
whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies represent
the prevailing views of the staff of the SEC.  Such “Plan of Distribution” section shall also expressly permit,
to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Persons subject to
the prospectus delivery requirements of the Securities Act, including, to the extent permitted by applicable policies and regulations
of the SEC, all Participating Broker-Dealers, and include a statement describing the means by which Participating Broker-Dealers
may resell the Exchange Notes in compliance with the Securities Act.


 


The Issuers shall use commercially reasonable
efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein
in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as is necessary to comply with applicable law in connection with any resale of the Exchange
Notes; provided, however, that such period shall not be required to exceed 90 days or such longer period if extended
pursuant to the last paragraph of Section 5 hereof (the “Applicable Period”).


 


If, prior to consummation of the Exchange
Offer, the Initial Purchasers hold any Notes acquired by them that have the status of an unsold allotment in the initial distribution,
the Issuers, upon the request of the Initial Purchasers, shall simultaneously with the delivery of the Exchange Notes issue and
deliver to the Initial Purchasers, in exchange (the “Private Exchange”) for such Notes held by any such Holder,
a like principal amount of notes (the “Private Exchange Notes”) of the Company, guaranteed by the Guarantors,
that are identical in all material respects to the Exchange Notes except for the placement of a restrictive legend on such Private
Exchange


 




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Notes.  The Private Exchange Notes
shall be issued pursuant to the same indenture as the Exchange Notes and bear the same CUSIP number as the Exchange Notes if permitted
by the CUSIP Service Bureau.


 


In connection with the Exchange Offer, the
Issuers shall:


 


(1)       mail,
or cause to be mailed, to each Holder of record entitled to participate in the Exchange Offer a copy of the Prospectus forming
part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents;


 


(2)       use
commercially reasonable efforts to keep the Exchange Offer open for not less than 30 days after the date that notice of the Exchange
Offer is mailed to Holders (or longer if required by applicable law);


 


(3)       utilize
the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New York;


 


(4)       permit
Holders to withdraw tendered Notes at any time prior to the close of business, New York time, on the last Business Day on which
the Exchange Offer remains open; and


 


(5)       otherwise
comply in all material respects with all applicable laws, rules and regulations.


 


As soon as practicable after the close of
the Exchange Offer and the Private Exchange, if any, the Issuers shall:


 


(1)       accept
for exchange all Registrable Notes validly tendered and not validly withdrawn pursuant to the Exchange Offer and the Private Exchange,
if any;


 


(2)       deliver
to the Trustee for cancellation all Registrable Notes so accepted for exchange; and


 


(3)       cause
the Trustee to authenticate and deliver promptly to each Holder of Notes, Exchange Notes or Private Exchange Notes, as the case
may be, equal in principal amount to the Notes of such Holder so accepted for exchange; provided that, in the case of any
Notes held in global form by a depositary, authentication and delivery to such depositary of one or more replacement Notes in global
form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such
authentication and delivery requirement.


 


The Exchange Offer and the Private Exchange
shall not be subject to any conditions, other than that (i) the Exchange Offer or Private Exchange, as the case may be, does
not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have
been instituted or threatened in any court or by any governmental agency which might materially impair the ability of the Issuers
to proceed with the Exchange Offer or the Private Exchange, and no material adverse development shall have occurred in any


 




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existing action or proceeding with respect
to the Issuers; and (iii) all governmental approvals shall have been obtained, which approvals the Issuers deem necessary
for the consummation of the Exchange Offer or Private Exchange.


 


The Exchange Notes and the Private Exchange
Notes shall be issued under (i) the Indenture or (ii) an indenture identical in all material respects to the Indenture
and which, in either case, conforms to the requirements necessary for qualification under the TIA or is exempt from such qualification
and shall provide that the Exchange Notes shall not be subject to the transfer restrictions set forth in the Indenture.  The
Indenture or such indenture shall provide that the Exchange Notes, the Private Exchange Notes and the Notes shall vote and consent
together on all matters as one class and that none of the Exchange Notes, the Private Exchange Notes or the Notes will have the
right to vote or consent as a separate class on any matter.


 


(c)       If,
(i) because of any change in law or in currently prevailing interpretations of the staff of the SEC, the Issuers are not permitted
to effect the Exchange Offer, (ii) the Exchange Offer is not consummated within 360 days of the Issue Date, (iii) any
Holder so requests in writing to the Company at any time after the consummation of the Exchange Offer with respect to Notes (including
Private Exchange Notes) that were ineligible to be exchanged for Exchange Notes in the Exchange Offer (or in the case of Private
Exchange Notes, were not issued in exchange for Notes that are or were eligible to be exchanged in the Exchange Offer) or (iv)
 in the case of any Holder that participates in the Exchange Offer, such Holder does not receive Exchange Notes on the date
of the exchange that may be sold without restriction under the Securities Act (other than due solely to the status of such Holder
as an affiliate of the Company within the meaning of the Securities Act) and so notifies the Company within 30 days after such
Holder first becomes aware of such restrictions, in the case of each of clauses (i) to and including (iv) of this sentence, then
the Issuers shall promptly deliver to the Holders and the Trustee written notice thereof (the “Shelf Notice”)
and shall file a Shelf Registration pursuant to Section 3 hereof.


 


3.         Shelf
Registration


 


If at any time a Shelf Notice is delivered
as contemplated by Section 2(c) hereof, then:


 


(a)       Shelf
Registration.  The Issuers shall as promptly as practicable file with the SEC a Registration Statement for an offering
to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Notes (the “Initial Shelf Registration”).  The
Issuers shall use commercially reasonable efforts to file with the SEC the Initial Shelf Registration on or prior to the applicable
Filing Date.  The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration
of such Registrable Notes for resale by Holders in the manner or manners designated by them (including, without limitation, one
or more underwritten offerings).  The Issuers shall not permit any securities other than the Registrable Notes and the
Guarantees, and Additional Notes (if any) and the related guarantees, to be included in the Initial Shelf Registration or any Subsequent
Shelf Registration (as defined below).


 




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The Issuers shall use commercially
reasonable efforts to cause the Shelf Registration to be declared effective under the Securities Act on or prior to the Effectiveness
Date and to keep the Initial Shelf Registration continuously effective under the Securities Act until the date that is one year
from the Effectiveness Date or such shorter period ending when all Registrable Notes covered by the Initial Shelf Registration
have been sold in the manner set forth and as contemplated in the Initial Shelf Registration or, if applicable, a Subsequent Shelf
Registration (the “Effectiveness Period”); provided, however, that the Effectiveness Period in
respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with the applicable
prospectus delivery requirements of Rule 174 under the Securities Act and as otherwise provided herein.  Notwithstanding
anything to the contrary in this Agreement, at any time, the Company may delay the filing of any Initial Shelf Registration Statement
or delay or suspend the effectiveness thereof, for a reasonable period of time, but not in excess of an aggregate of 75 days in
any calendar year (a “Shelf Suspension Period”), if the Board of Directors of the Company determines reasonably
and in good faith that the filing of any such Initial Shelf Registration Statement or the continuing effectiveness thereof would
require the disclosure of non-public material information that, in the reasonable judgment of the Board of Directors of the Company,
would be detrimental to the Company if so disclosed or would otherwise materially adversely affect a financing, acquisition, disposition,
merger or other material transaction.


 


(b)       Withdrawal
of Stop Orders; Subsequent Shelf Registrations.  If the Initial Shelf Registration or any Subsequent Shelf Registration
ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the
Notes registered thereunder), the Issuers shall use commercially reasonable efforts to obtain the prompt withdrawal of any order
suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf
Registration Statement in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file an additional
Shelf Registration Statement pursuant to Rule 415 covering all of the Registrable Notes covered by and not sold under the Initial
Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”).  If
a Subsequent Shelf Registration is filed, the Issuers shall use commercially reasonable efforts to cause the Subsequent Shelf Registration
to be declared effective under the Securities Act as soon as practicable after such filing and to keep such subsequent Shelf Registration
continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during
which the Initial Shelf Registration or any Subsequent Shelf Registration was previously continuously effective.  As
used herein the term “Shelf Registration” means the Initial Shelf Registration and any Subsequent Shelf Registration.


 


(c)       Supplements
and Amendments.  The Issuers shall promptly supplement and amend the Shelf Registration if required by the rules,
regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities
Act, or if reasonably requested by the Holders of a majority in aggregate principal amount of the Registrable Notes (or their counsel)
covered by such Registration Statement with respect to the information included therein with respect to one or more of


 




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such Holders, or by any underwriter
of such Registrable Notes with respect to the information included therein with respect to such underwriter.


 


4.         Additional
Interest


 


(a)       The
Issuers and the Initial Purchasers agree that the Holders will suffer damages if the Issuers fail to fulfill their obligations
under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision.  Accordingly,
the Issuers agree to pay, jointly and severally, as liquidated damages, additional interest on the Notes (“Additional
Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect):


 


(i)        if
(A) neither the Exchange Offer Registration Statement nor the Initial Shelf Registration has been filed on or prior to the Filing
Date applicable thereto or (B) notwithstanding that the Issuers have consummated or will consummate the Exchange Offer, the Issuers
are required to file a Shelf Registration and such Shelf Registration is not filed on or prior to the Filing Date applicable thereto,
then, commencing on the day after any such Filing Date, Additional Interest shall accrue on the principal amount of the Notes at
a rate of 0.25% per annum for the first 90 days immediately following such applicable Filing Date, and such Additional Interest
rate shall increase by an additional 0.25% per annum at the beginning of each subsequent 90-day period; or


 


(ii)       if
(A) neither the Exchange Offer Registration Statement nor the Initial Shelf Registration is declared effective by the SEC on or
prior to the Effectiveness Date applicable thereto or (B) notwithstanding that the Issuers have consummated or will consummate
the Exchange Offer, the Issuers are required to file a Shelf Registration and such Shelf Registration is not declared effective
by the SEC on or prior to the Effectiveness Date applicable to such Shelf Registration, then, commencing on the day after such
Effectiveness Date, Additional Interest shall accrue on the principal amount of the Notes at a rate of 0.25% per annum for the
first 90 days immediately following the day after such Effectiveness Date, and such Additional Interest rate shall increase by
an additional 0.25% per annum at the beginning of each subsequent 90-day period; or


 


(iii)      if
(A) the Issuers have not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange
Offer on or prior to the 90th day after the date on which the Exchange Offer Registration Statement was declared effective or (B) if
applicable, a Shelf Registration has been declared effective and such Shelf Registration ceases to be effective at any time during
the Effectiveness Period, then Additional Interest shall accrue on the principal amount of the Notes at a rate of 0.25% per annum
for the first 90 days commencing on the (x) 91st day after such effective date, in the case of (A) above, or (y) the day such
Shelf Registration ceases to be effective in the case of (B) above, and such Additional Interest rate shall increase by an additional
0.25% per annum at the beginning of each such subsequent 90-day period;


 


provided,
however, that the Additional Interest rate on the Notes may not accrue under more than one of the foregoing clauses (i)
- (iii) at any one time and at no time shall the aggregate amount of Additional Interest accruing exceed in the aggregate 1.0%
per annum; provided, further,


 




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however,
that (1) upon the filing of the applicable Exchange Offer Registration Statement or the applicable Shelf Registration as required
hereunder (in the case of clause (i) above of this Section 4), (2) upon the effectiveness of the Exchange Offer Registration
Statement or the applicable Shelf Registration Statement as required hereunder (in the case of clause (ii) of this Section 4),
or (3) upon the exchange of the Exchange Notes for all Notes tendered (in the case of clause (iii)(A) of this Section 4),
or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective (in the case of (iii)(B)
of this Section 4), Additional Interest on the Notes in respect of which such events relate as a result of such clause (or
the relevant subclause thereof), as the case may be, shall cease to accrue.  Notwithstanding any other provision of this
Section 4, the Issuers shall not be obligated to pay Additional Interest provided in Sections 4(a)(i)(B), 4(a)(ii)(B) or 4(a)(iii)(B)
during a Shelf Suspension Period permitted by Section 3(a) hereof.


 


(b)       The
Issuers shall notify the Trustee within one Business Day after each and every date on which an event occurs in respect of which
Additional Interest is required to be paid (an “Event Date”).  Any amounts of Additional Interest
due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash semiannually on each April 1 and October
1 (to the holders of record on the March 15 and September 15 immediately preceding such dates), commencing with the first such
date occurring after any such Additional Interest commences to accrue.  The amount of Additional Interest will be determined
by multiplying the applicable Additional Interest rate by the principal amount of the Registrable Notes, multiplied by a fraction,
the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the
basis of a 360 day year comprised of twelve 30 day months and, in the case of a partial month, the actual number of days
elapsed), and the denominator of which is 360.


 


5.         Registration
Procedures


 


In connection with the filing of any Registration
Statement pursuant to Section 2 or 3 hereof, the Issuers shall effect such registrations to permit the sale of the securities
covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection
with any Registration Statement filed by the Company hereunder, each of the Issuers shall:


 


(a)       Prepare
and file with the SEC prior to the applicable Filing Date a Registration Statement or Registration Statements as prescribed by
Section 2 or 3 hereof, and use commercially reasonable efforts to cause each such Registration Statement to become effective
and remain effective as provided herein; provided, however, that if (1) such filing is pursuant to Section 3
hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof
is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during
the Applicable Period relating thereto from whom the Company has received prior written notice that it will be a Participating
Broker-Dealer in the Exchange Offer, before filing any Registration Statement or Prospectus or any amendments or supplements thereto,
the Issuers shall furnish to and afford the Holders of the Registrable Notes covered by such Registration Statement (with respect
to a Registration Statement filed pursuant to Section 3 hereof) or each such Participating


 




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Broker-Dealer (with respect to any
such Registration Statement), as the case may be, their counsel and the managing underwriters, if any, a reasonable opportunity
to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits
thereto) proposed to be filed (in each case at least five Business Days prior to such filing).  The Issuers shall not
file any Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in aggregate
principal amount of the Registrable Notes covered by such Registration Statement, their counsel, or the managing underwriters,
if any, shall reasonably object on a timely basis.


 


(b)       Use
commercially reasonable efforts to prepare and file with the SEC such amendments and post-effective amendments to each Shelf Registration
Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement
continuously effective for the Effectiveness Period, the Applicable Period or until consummation of the Exchange Offer, as the
case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so
supplemented to be filed pursuant to Rule 424; and comply with the provisions of the Securities Act and the Exchange Act applicable
to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus
as so supplemented and with respect to the subsequent resale of any securities being sold by an Participating Broker-Dealer covered
by any such Prospectus.  The Company shall be deemed not to have used commercially reasonable efforts to keep a Registration
Statement effective if such Issuer voluntarily takes any action that would result in selling Holders of the Registrable Notes covered
thereby or Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell such Registrable Notes or such Exchange
Notes during that period unless such action is required by applicable law or permitted by this Agreement.


 


(c)       If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto from whom the Company has received
written notice that it will be a Participating Broker-Dealer in the Exchange Offer, notify the selling Holders of Registrable Notes
(with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with
respect to any such Registration Statement), as the case may be, their counsel and the managing underwriters, if any, promptly
(but in any event within one Business Day), and confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement
or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when
the same has become effective under the Securities Act (including in such notice a written statement that any Holder may, upon
request, obtain, at the sole expense of the Company, one conformed copy of such Registration Statement or post-effective amendment
including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of
the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or
suspending the use of any preliminary prospectus or the initiation of any proceedings for that purpose,


 




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(iii) if at any time when a
prospectus is required by the Securities Act to be delivered in connection with sales of the Registrable Notes or resales of Exchange
Notes by Participating Broker-Dealers the representations and warranties of the Issuers contained in any agreement (including any
underwriting agreement) contemplated by Section 5(n) hereof cease to be true and correct, (iv) of the receipt by any
Issuer of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration
Statement or any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale
in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the happening of any event,
the existence of any condition or any information becoming known that makes any statement made in such Registration Statement or
related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect
or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents
so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case
of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading,
and (vi) of the Issuers’ determination that a post-effective amendment to a Registration Statement would be appropriate.


 


(d)       Use
commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or
of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification)
of any of the Registrable Notes or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction,
and, if any such order is issued, to use commercially reasonable efforts to obtain the withdrawal of any such order at the earliest
practicable date.


 


(e)       If
a Shelf Registration is filed pursuant to Section 3 and if requested in writing during the Effectiveness Period by the managing
underwriter or underwriters (if any), the Holders of a majority in aggregate principal amount of the Registrable Notes being sold
in connection with an underwritten offering or any Participating Broker-Dealer, (i) as promptly as practicable incorporate
in a prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters (if any), such
Holders, any Participating Broker-Dealer or counsel for any of them reasonably request to be included therein, (ii) make all
required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Company has received
notification of the matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii) supplement
or make amendments to such Registration Statement; provided, however, the Issuers shall not be required to take any action pursuant
to this Section 5(e) that would, in the opinion of counsel for the Company, reasonably satisfactory to the Initial Purchasers,
violate applicable law.


 


(f)        If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to


 




    	-13-



    	 



    

 


Section 2 hereof is required
to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable
Period, furnish to each selling Holder of Registrable Notes (with respect to a Registration Statement filed pursuant to Section 3
hereof) and to each such Participating Broker-Dealer who so requests (with respect to any such Registration Statement) and to their
respective counsel and each managing underwriter, if any, at the sole expense of the Company, one conformed copy of the Registration
Statement or Registration Statements and each post-effective amendment thereto, including financial statements and schedules, and,
if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits.


 


(g)       If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, deliver to each selling Holder of Registrable Notes
(with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with
respect to any such Registration Statement), as the case may be, their respective counsel, and the underwriters, if any, at the
sole expense of the Company, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and
each amendment or supplement thereto and any documents incorporated by reference therein as such Persons may reasonably request;
and, subject to the last paragraph of this Section 5, the Issuers hereby consent to the use of such Prospectus and each amendment
or supplement thereto by each of the selling Holders of Registrable Notes or each such Participating Broker-Dealer, as the case
may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable
Notes covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment
or supplement thereto.


 


(h)       Prior
to any public offering of Registrable Notes or any delivery of a Prospectus contained in the Exchange Offer Registration Statement
by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use commercially reasonable efforts
to register or qualify, and to cooperate with the selling Holders of Registrable Notes or each such Participating Broker-Dealer,
as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration
or qualification (or exemption from such registration or qualification) of such Registrable Notes for offer and sale under the
securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer,
or the managing underwriter or underwriters reasonably request in writing; provided, however, that where Exchange
Notes held by Participating Broker-Dealers or Registrable Notes are offered other than through an underwritten offering, the Issuers
agree to cause their counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed
pursuant to this Section 5(h), keep each such registration or qualification (or exemption therefrom) effective during the
period such Registration Statement is required to be kept effective and do any and all other acts or things necessary or advisable
to enable the disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers or the Registrable Notes


 




    	-14-



    	 



    

 


covered by the applicable Registration
Statement; provided, however, that no Issuer shall be required to (A) qualify generally to do business in any
jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in
any such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount
in any such jurisdiction where it is not then so subject.


 


(i)        If
a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the selling Holders of Registrable Notes and the
managing underwriter or underwriters, if any, to facilitate the timely preparation and  delivery of certificates representing
Registrable Notes to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible for deposit
with The Depository Trust Company; and enable such Registrable Notes to be in such denominations (subject to applicable requirements
contained in the Indenture) and registered in such names as the managing underwriter or underwriters, if any, or Holders may request.


 


(j)        Use
commercially reasonable efforts to cause the Registrable Notes covered by the Registration Statement to be registered with or approved
by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter
or underwriters, if any, to consummate the disposition of such Registrable Notes, except as may be required solely as a consequence
of the nature of such selling Holder’s business, in which case the Issuers will cooperate in all respects with the filing
of such Registration Statement and the granting of such approvals; provided that no Issuer shall be required to (A) qualify generally
to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service
of process in any jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar
amount in any such jurisdiction it is not then so subject.


 


(k)       If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph 5(c)(v)
or 5(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 5(a) hereof) file with the SEC, at the sole
expense of the Company, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as
thereafter delivered to the purchasers of the Registrable Notes being sold thereunder (with respect to a Registration Statement
filed pursuant to Section 3 hereof) or to the purchasers of the Exchange Notes to whom such Prospectus will be delivered by
a Participating Broker-Dealer (with respect to any such Registration Statement), any such Prospectus will not contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading.


 




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(l)        Use
commercially reasonable efforts to cause the Registrable Notes covered by a Registration Statement or the Exchange Notes, as the
case may be, to be rated with the appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal
amount of Registrable Notes covered by such Registration Statement or the Exchange Notes, as the case may be, or the managing underwriter
or underwriters, if any.


 


(m)      Prior
to the effective date of the first Registration Statement relating to the Registrable Notes, (i) provide the Trustee with
certificates for the Registrable Notes in a form eligible for deposit with The Depository Trust Company and (ii) provide a
CUSIP number for the Registrable Notes.


 


(n)       In
connection with any underwritten offering of Registrable Notes pursuant to a Shelf Registration, enter into an underwriting agreement
as is customary in underwritten offerings of debt securities similar to the Notes, and take all such other actions as are reasonably
requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of
such Registrable Notes and, in such connection, (i) make such representations and warranties to, and covenants with, the underwriters
with respect to the business of the Issuers (including any acquired business, properties or entity, if applicable), and the Registration
Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, as are
customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the Notes, and confirm the
same in writing if and when requested; (ii) obtain the written opinions of counsel to the Issuers, and written updates thereof
in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters
covering the matters customarily covered in opinions reasonably requested in underwritten offerings of debt securities similar
to the Notes; (iii) obtain “cold comfort” letters and updates thereof in form, scope and substance reasonably
satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Issuers (and,
if necessary, any other independent certified public accountants of the Issuers, or of any business acquired by the Issuers, for
which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration
Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily
covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Notes;
and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no
less favorable to the sellers and underwriters, if any, than those set forth in Section 7 hereof (or such other provisions
and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of Registrable Notes covered by such
Registration Statement and the managing underwriter or underwriters or agents, if any).  The above shall be done at each
closing under such underwriting agreement, or as and to the extent required thereunder.  Notwithstanding the foregoing,
the Issuers may delay entering into such agreement in the event that and for a period of time not to exceed an aggregate of 60
days if (1) the Board of Directors of the Company determines in good faith that the disclosure of an event at such time could reasonably
be expected to have a material adverse effect on the business, operations or prospects of the Issuers or (2) the disclosure otherwise


 




    	-16-



    	 



    

 


relates to a material business transaction
which has not been publicly disclosed and the Board of Directors of the Company determines that any such disclosure would jeopardize
the success of such transaction.


 


(o)       If
(1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating
Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any Initial Purchaser,
any selling Holder of such Registrable Notes being sold (with respect to a Registration Statement filed pursuant to Section 3
hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of
Registrable Notes, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating
Broker-Dealer (with respect to any such Registration Statement), as the case may be, or underwriter (any such Initial Purchasers,
Holders, Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the “Inspectors”),
upon written request, at the offices where normally kept, during reasonable business hours, all pertinent financial and other records,
pertinent corporate documents and instruments of the Company and subsidiaries of the Company (collectively, the “Records”),
as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers,
directors and employees of the Company and any of its subsidiaries to supply all information (“Information”)
reasonably requested by any such Inspector in connection with such due diligence responsibilities.  Each Inspector shall
agree in writing that it will keep the Records and Information confidential and that it will not disclose any of the Records or
Information that the Company determines, in good faith, to be confidential and notifies the Inspectors in writing are confidential,
and that such information will be treated as confidential by it so as not to give rise to disclosure obligations on the part of
the Issuer under SEC Regulation FD unless (i) the disclosure of such Records or Information is necessary to avoid or correct
a misstatement or omission in such Registration Statement or Prospectus, (ii) the release of such Records or Information is
ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or
Information is necessary or advisable, in the opinion of counsel for any Inspector, in connection with any action, claim, suit
or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating
to, or involving this Agreement or the Purchase Agreement, or any transactions contemplated hereby or thereby or arising hereunder
or thereunder, or (iv) the information in such Records or Information has been made generally available to the public other
than by an Inspector or an “affiliate” (as defined in Rule 405) thereof; provided, however, that
prior notice shall be provided as soon as practicable to the Company of the potential disclosure of any information by such Inspector
pursuant to clauses (i) or (ii) of this sentence to permit the Company to obtain a protective order (or waive the provisions
of this paragraph (o)) and that such Inspector shall take such actions as are reasonably necessary to protect the confidentiality
of such information (if practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation
of the rights and interests of the Holder or any Inspector.


 




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(p)       Provide
an indenture trustee for the Registrable Notes or the Exchange Notes, as the case may be, and, unless exempt from qualification,
cause the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under
the TIA not later than the effective date of the first Registration Statement relating to the Registrable Notes; and in connection
therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Notes to effect such changes
(if any) to such indenture as may be required for such indenture to be so qualified in accordance with the terms of the TIA; and
execute, and use commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such
changes, and all other forms and documents required to be filed with the SEC to enable such indenture to be so qualified in a timely
manner.


 


(q)      Comply
with all applicable rules and regulations of the SEC and make generally available to its securityholders with regard to any applicable
Registration Statement, a consolidated earnings statement satisfying the provisions of Section 11(a) of the Securities Act
and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end
of any fiscal quarter (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing
at the end of any fiscal quarter in which Registrable Notes are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter
of the Company, after the effective date of a Registration Statement, which statements shall cover said 12-month periods.


 


(r)       If
the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Notes by Holders to the Company
(or to such other Person as directed by the Company), in exchange for the Exchange Notes or the Private Exchange Notes, as the
case may be, the Issuers shall mark, or cause to be marked, on such Registrable Notes that such Registrable Notes are being cancelled
in exchange for the Exchange Notes or the Private Exchange Notes, as the case may be; in no event shall such Registrable Notes
be marked as paid or otherwise satisfied.


 


(s)       Cooperate
with each seller of Registrable Notes covered by any Registration Statement and each underwriter, if any, participating in the
disposition of such Registrable Notes and their respective counsel in connection with any filings required to be made with FINRA.


 


(t)        Use
commercially reasonable efforts to take all other steps necessary to effect the registration of the Exchange Notes and/or Registrable
Notes covered by a Registration Statement contemplated hereby.


 


The Company may require each seller of Registrable
Notes as to which any registration is being effected to furnish to the Company such information regarding such seller and the distribution
of such Registrable Notes as the Company may, from time to time, reasonably request.  The Company may exclude from such
registration the Registrable Notes of any seller so long as such seller fails to furnish such information within a reasonable time
after receiving such request.  Each seller as to which any Shelf Registration is being effected agrees to


 




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furnish promptly to the Company all information
required to be disclosed in order to make the information previously furnished to the Company by such seller not materially misleading.


 


If any such Registration Statement refers
to any Holder by name or otherwise as the holder of any securities of any Issuer, then such Holder shall have the right to require
(i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the
holding by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of
the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial
requirements of the Issuers, or (ii) in the event that such reference to such Holder by name or otherwise is not required
by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment
or supplement to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required.


 


Each Holder of Registrable Notes and each
Participating Broker-Dealer agrees by its acquisition of such Registrable Notes or Exchange Notes to be sold by such Participating
Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Company of the happening of any event of the
kind described in Section 5(c)(ii), 5(c)(iv), 5(c)(v), or 5(c)(vi) hereof, such Holder will forthwith discontinue disposition
of such Registrable Notes covered by such Registration Statement or Prospectus or Exchange Notes to be sold by such Holder or Participating
Broker-Dealer, as the case may be, and in each case, dissemination of such Prospectus, until such Holder’s or Participating
Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof,
or until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may
be resumed, and has received copies of any amendments or supplements thereto.  In the event that the Issuers shall give
any such notice, each of the Applicable Period and the Effectiveness Period shall be extended by the number of days during such
periods from and including the date of the giving of such notice to and including the date when each seller of Registrable Notes
covered by such Registration Statement or Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be, shall
have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the
Advice.


 


6.         Registration
Expenses


 


All fees and expenses incident to the performance
of or compliance with this Agreement by the Issuers shall be borne by the Company, whether or not the Exchange Offer Registration
Statement or any Shelf Registration Statement is filed or becomes effective or the Exchange Offer is consummated, including, without
limitation, (i) all registration and filing fees (including, without limitation, (A) fees with respect to filings required
to be made with FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with state securities
or Blue Sky laws where required (including, without limitation, fees and disbursements of counsel in connection with Blue Sky qualifications
of the Registrable Notes or Exchange Notes and determination of the eligibility of the Registrable Notes or Exchange Notes for
investment under the laws of such jurisdictions (x) where the holders of Registrable Notes are located, in the case of the
Exchange Notes, or (y) as provided in Section 5(h) hereof, in the case of Registrable Notes or Exchange Notes to be sold
by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses
of printing


 




    	-19-



    	 



    

 


certificates for Registrable Notes or Exchange
Notes in a form eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing of prospectuses
is requested by the managing underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of
the Registrable Notes included in  any Registration Statement or in respect of Registrable Notes or Exchange Notes to
be sold by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) messenger, telephone and
delivery expenses, (iv) fees and disbursements of counsel for the Issuers and, in the case of a Shelf Registration, reasonable
fees and disbursements of one special counsel for all of the sellers of Registrable Notes selected by the Holders of a majority
in aggregate principal amount of Registrable Notes covered by such Shelf Registration (exclusive of any counsel retained pursuant
to Section 7 hereof), (v) fees and disbursements of all independent certified public accountants referred to in Section 5(n)(iii)
hereof (including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance),
(vi) Securities Act liability insurance, if the Issuers desire such insurance, (vii) fees and expenses of all other Persons
retained by the Issuers, (viii) internal expenses of the Issuers (including, without limitation, all salaries and expenses
of officers and employees of the Issuers performing legal or accounting duties), (ix) the expense of any annual audit, (x) any
fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange, and the
obtaining of a rating of the securities, in each case, if applicable and (xi) the expenses relating to printing, word processing
and distributing all Registration Statements, underwriting agreements, indentures and any other documents necessary in order to
comply with this Agreement.  Notwithstanding the foregoing, the Issuers shall not pay underwriting or brokerage discounts
or commissions.


 


7.         Indemnification
and Contribution.


 


(a)       Each
of the Issuers agree, jointly and severally, to indemnify and hold harmless each Holder of Registrable Notes and each Participating
Broker-Dealer selling Exchange Notes during the Applicable Period, and each Person, if any, who controls such Person or its affiliates
within the meaning of Section 15 of the Act or Section 20 of the Exchange Act (each, a “Participant”) against
any losses, claims, damages or liabilities to which any Participant may become subject under the Securities Act, the Exchange Act
or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon:


 


(i)        any
untrue statement or alleged untrue statement made by any Issuer contained in any application or any other document or any amendment
or supplement thereto executed by any Issuer based upon written information furnished by or on behalf of any Issuer filed in any
jurisdiction in order to qualify the Notes under the securities or “Blue Sky” laws thereof or filed with the SEC or
any securities association or securities exchange (each, an “Application”);


 


(ii)       any
untrue statement or alleged untrue statement of any material fact contained in any Registration Statement (or any amendment thereto)
or Prospectus (as amended or supplemented if any of the Issuers shall have furnished any amendments or supplements thereto) or
any preliminary prospectus; or


 




    	-20-



    	 



    

 


(iii)      the
omission or alleged omission to state, in any Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented
if any of the Issuers shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any Application
or any other document or any amendment or supplement thereto, a material fact required to be stated therein or necessary to make
the statements therein not misleading;


 


and will reimburse, as incurred, the Participant for any legal
or other expenses incurred by the Participant in connection with investigating, defending against or appearing as a third-party
witness in connection with any such loss, claim, damage, liability or action; provided, however, none of the Issuers
will be liable in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon any
untrue statement or alleged untrue statement or omission or alleged omission made in any Registration Statement (or any amendment
thereto) or Prospectus (as amended or supplemented if any of the Issuers shall have furnished any amendments or supplements thereto)
or any preliminary prospectus or Application or any amendment or supplement thereto in reliance upon and in conformity with information
relating to any Participant furnished to the Issuers by such Participant specifically for use therein.  The indemnity
provided for in this Section 7 will be in addition to any liability that the Issuers may otherwise have to the indemnified
parties.  The Issuers shall not be liable under this Section 7 for any settlement of any claim or action effected
without their prior written consent, which shall not be unreasonably withheld.  


 


(b)       Each
Participant, severally and not jointly, agrees to indemnify and hold harmless the Issuers, their directors, their officers and
each Person, if any, who controls the Issuers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act
against any losses, claims, damages or liabilities to which the Issuers or any such director, officer or controlling person may
become subject under the Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions
in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact
contained in any Registration Statement, Prospectus or Application, any amendment or supplement thereto, or any preliminary prospectus,
or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not
misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission
or alleged omission was made in reliance upon and in conformity with written information concerning such Participant, furnished
to the Issuers by the Participant, specifically for use therein; and subject to the limitation set forth immediately preceding
this clause, will reimburse, as incurred, any reasonable legal or other expenses incurred by the Issuers or any such director,
officer or controlling person in connection with investigating or defending against or appearing as a third party witness in connection
with any such loss, claim, damage, liability or action in respect thereof.  The indemnity provided for in this Section 7
will be in addition to any liability that the Participants may otherwise have to the indemnified parties.  The Participants
shall not be liable under this Section 7 for any settlement of any claim or action effected without their consent, which shall
not be unreasonably withheld.  The Issuers shall not, without the prior written consent of such Participant, effect any
settlement or compromise of any pending or threatened proceeding in respect of which such Participant is or could have been a party,
or indemnity could have been sought hereunder by such Participant, unless such settlement (A) includes an unconditional written
release of such Participant, in form and substance reasonably satisfactory


 




    	-21-



    	 



    

 


to such Participant, from all liability on
claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability
or failure to act by or on behalf of such Participant.


 


(c)       Promptly
after receipt by an indemnified party under this Section 7 of notice of the commencement of any action for which such indemnified
party is entitled to indemnification under this Section 7, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify the indemnifying party of the commencement thereof in writing;
but the omission to so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b)
above unless and to the extent such failure results in the forfeiture by the indemnifying party of substantial rights and defenses
and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraphs (a) and (b) above.  In case any such action is brought against any
indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled
to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume
the defense thereof, with counsel reasonably satisfactory to such indemnified party; provided, however, that if (i) the
use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of
interest, (ii) the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified
party shall have been advised by counsel that there may be one or more legal defenses available to it and/or other indemnified
parties that are different from or additional to those available to the indemnifying party, or (iii) the indemnifying party
shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable
time after receipt by the indemnifying party of notice of the institution of such action, then, in each such case, the indemnifying
party shall not have the right to direct the defense of such action on behalf of such indemnified party or parties and such indemnified
party or parties shall have the right to select separate counsel to defend such action on behalf of such indemnified party or parties.  After
notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by such
indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party
under this Section 7 for any legal or other expenses, other than reasonable costs of investigation, subsequently incurred
by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate
counsel in accordance with the proviso to the immediately preceding sentence (it being understood, however, that in connection
with such action the indemnifying party shall not be liable for the expenses of more than one separate counsel (in addition to
local counsel) in any one action or separate but substantially similar actions in the same jurisdiction arising out of the same
general allegations or circumstances, designated by Participants who sold a majority in interest of the Registrable Notes and Exchange
Notes sold by all such Participants in the case of paragraph (a) of this Section 7 or the Issuers in the case of paragraph (b)
of this Section 7, representing the indemnified parties under such paragraph (a) or paragraph (b), as the case may
be, who are parties to such action or actions) or (ii) the indemnifying party has authorized in writing the employment of counsel
for the indemnified party at the expense of the indemnifying party.  All fees and expenses reimbursed pursuant to this
paragraph (c) shall be reimbursed as they are incurred.  After such notice from the indemnifying party to such indemnified
party, the indemnifying party will not be liable for the costs and expenses of any settlement of such action


 




    	-22-



    	 



    

 


effected by such indemnified party without
the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld), unless such indemnified
party waived in writing its rights under this Section 7, in which case the indemnified party may effect such a settlement
without such consent.


 


(d)       In
circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 7 is unavailable to,
or insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in
respect thereof), each indemnifying party, in order to provide for just and equitable contribution, shall contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof)
in such proportion as is appropriate to reflect (i) the relative benefits received by the indemnifying party or parties on the
one hand and the indemnified party on the other from the offering of the Notes or (ii) if the allocation provided by the foregoing
clause (i) is not permitted by applicable law, not only such relative benefits but also the relative fault of the indemnifying
party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged
statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof).  The
relative benefits received by the Company on the one hand and such Participant on the other shall be deemed to be in the same proportion
as the total proceeds from the offering (before deducting expenses) of the Notes received by the Company bear to the total net
profit received by such Participant in connection with the sale of the Notes.  The relative fault of the parties shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact relates to information supplied by the Issuers on the one hand, or the Participants
on the other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement
or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances.  The
parties agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation
or by any other method of allocation that does not take into account the equitable considerations referred to in the first sentence
of this paragraph (d).  Notwithstanding any other provision of this paragraph (d), no Participant shall be obligated
to make contributions hereunder that in the aggregate exceed the total net profit received by such Participant in connection with
the sale of the Notes, less the aggregate amount of any damages that such Participant has otherwise been required to pay by reason
of the untrue or alleged untrue statements or the omissions or alleged omissions to state a material fact, and no person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent misrepresentation.  For purposes of this paragraph (d), each person,
if any, who controls a Participant within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall
have the same rights to contribution as the Participants, and each director of the Issuers, each officer of the Issuers and each
person, if any, who controls the Issuers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act,
shall have the same rights to contribution as the Issuers.


 


8.         Rules
144 and 144A


 


The Issuers covenant and agree that they will
file the reports required to be filed by them under the Securities Act and the Exchange Act and the rules and regulations adopted
by


 




    	-23-



    	 



    

 


the SEC thereunder in a timely manner in accordance
with the requirements of the Securities Act and the Exchange Act and, if at any time the Company or any Guarantor is not required
to file such reports, the Company or such Guarantor, as the case may be, will, upon the request of any Holder or beneficial owner
of Registrable Notes, make available such information necessary to permit sales pursuant to Rule 144A.  The Issuers
further covenant and agree, for so long as any Registrable Notes remain outstanding, that they will take such further action as
any Holder of Registrable Notes may reasonably request, all to the extent required from time to time to enable such holder to sell
Registrable Notes without registration under the Securities Act within the limitation of the exemptions provided by Rule 144
and Rule 144A.


 


9.         Underwritten
Registrations


 


If any of the Registrable Notes covered by
any Shelf Registration are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers
that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Notes
included in such offering and shall be reasonably acceptable to the Company.


 


No Holder of Registrable Notes may participate
in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Notes on
the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
required under the terms of such underwriting arrangements.


 


10.       Miscellaneous


 


(a)       No
Inconsistent Agreements.  None of the Issuers has entered, as of the date hereof, and none of the Issuers shall enter,
after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights
granted to the Holders of Registrable Notes in this Agreement or otherwise conflicts with the provisions hereof.  The
rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the
holders of the Issuers’ other issued and outstanding securities under any such agreements.  


 


(b)       Adjustments
Affecting Registrable Notes.  The Issuers shall not, directly or indirectly, take any action with respect to the
Registrable Notes as a class that would adversely affect the ability of the Holders of Registrable Notes to include such Registrable
Notes in a registration undertaken pursuant to this Agreement.


 


(c)       Amendments
and Waivers.  The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents
to departures from the provisions hereof may not be given, otherwise than with the prior written consent of (I) the Issuers,
and (II) (A) the Holders of not less than a majority in aggregate principal amount of the then outstanding Registrable
Notes and (B) in circumstances that would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers
holding not less than a majority in aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers;


 




    	-24-



    	 



    

 


provided,
however, that Section 7 and this Section 10(c) may not be amended, modified or supplemented without the prior
written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer
of Registrable Notes or Exchange Notes, as the case may be, disposed of pursuant to any Registration Statement) affected by any
such amendment, modification or supplement.  Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of other Holders of Registrable Notes whose securities are
being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the
rights of Holders of Registrable Notes not being sold pursuant to such Registration Statement may be given by Holders of at least
a majority in aggregate principal amount of the Registrable Notes being sold pursuant to such Registration Statement.


 


(d)       Notices.  All
notices and other communications (including, without limitation, any notices or other communications to the Trustee) provided for
or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile:


 


(i)        if
to a Holder of the Registrable Notes or any Participating Broker-Dealer, at the most current address of such Holder or Participating
Broker-Dealer, as the case may be, set forth on the records of the registrar under the Indenture, with a copy in like manner to
the Initial Purchasers as follows:


 


J.P. Morgan Securities LLC

383 Madison Avenue

New York, New York 10179


Telephone:  (212) 834-4533

Facsimile:  (212) 834-6081

Attention:  Investment Grade Syndicate Desk


 


with a copy to:


 


Skadden, Arps, Slate, Meagher & Flom LLP

Facsimile No.:  (917) 777-3574

Attention:  David Goldschmidt


 


(ii)       if to the other
Initial Purchasers, at the address specified in Section 10(d)(i); and


 


(iii)      if
to the Company, at the address as follows:


 


Omega Healthcare Investors, Inc.


200 International Circle


Suite
3500


Hunt Valley, MD  21030

Facsimile No.:  (410) 427-8822

Attention:  Robert O. Stephenson


 




    	-25-



    	 



    

 


with a copy to:


 


Bryan Cave LLP

One Atlantic Center, Fourteenth Floor

1201 W. Peachtree Street, NW

Atlanta, Georgia  30309-3488

Facsimile No.:  (404) 420-0785

Attention: Eliot W. Robinson, Esq.


 


All such notices and communications shall
be deemed to have been duly given:  when delivered by hand, if personally delivered; five Business Days after being deposited
in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and upon written
confirmation, if sent by facsimile.


 


Copies of all such notices, demands or other
communications shall be concurrently delivered by the Person giving the same to the Trustee at the address and in the manner specified
in such Indenture.


 


(e)          Successors
and Assigns.  This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each
of the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of Registrable Notes in violation of the terms of the Purchase
Agreement or the Indenture.


 


(f)           Counterparts.  This
Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when
so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.


 


(g)          Headings.  The
headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.


 


(h)          Governing
Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS
APPLIED TO CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW
THAT WOULD REQUIRE THE APPLICATION OF ANY OTHER LAW.


 


(i)           Severability.  If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction.  It is hereby stipulated and declared to be the intention of the parties
that they would have executed the remaining terms, provisions, covenants


 




    	-26-



    	 



    

 


and restrictions without including any of
such that may be hereafter declared invalid, illegal, void or unenforceable.


 


(j)           Notes
Held by the Issuers or Their Affiliates.  Whenever the consent or approval of Holders of a specified percentage of
Registrable Notes is required hereunder, Registrable Notes held by the Issuers or their affiliates (as such term is defined in
Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders
of such required percentage.


 


(k)          Third-Party
Beneficiaries.  Holders of Registrable Notes and Participating Broker-Dealers are intended third-party beneficiaries
of this Agreement, and this Agreement may be enforced by such Persons.


 


(l)           Entire
Agreement.  This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as
a final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained
herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understandings,
correspondence, conversations and memoranda between the Holders on the one hand and the Issuers on the other, or between or among
any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect
to the subject matter hereof and thereof are merged herein and replaced hereby.


 


[Signature Pages Follow]


 




    	-27-



    	 



    

 


IN WITNESS WHEREOF, the parties have executed
this Agreement as of the date first written above.


 


	 	OMEGA HEALTHCARE INVESTORS, INC.,
	 	as Issuer
	 	 	 
	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	11900 EAST ARTESIA BOULEVARD, LLC
	 	1200 ELY STREET HOLDINGS CO. LLC
	 	13922 CERISE AVENUE, LLC
	 	1628 B STREET, LLC
	 	2400 PARKSIDE DRIVE, LLC
	 	2425 TELLER AVENUE, LLC
	 	245 EAST WILSHIRE AVENUE, LLC 
	 	3806 CLAYTON ROAD, LLC
	 	42235 COUNTY ROAD HOLDINGS CO. LLC
	 	48 HIGH POINT ROAD, LLC
	 	523 HAYES LANE, LLC
	 	637 EAST ROMIE LANE, LLC
	 	ARIZONA LESSOR - INFINIA, LLC
	 	BALA CYNWYD REAL ESTATE, LP 
	 	BAYSIDE COLORADO HEALTHCARE ASSOCIATES, LLC
	 	BAYSIDE STREET II, INC.
	 	BAYSIDE STREET, INC.
	 	CANTON HEALTH CARE LAND, INC. 
	 	CARNEGIE GARDENS LLC
	 	CFG 2115 WOODSTOCK PLACE LLC
	 	COLONIAL GARDENS, LLC 
	 	COLORADO LESSOR - CONIFER, LLC
	 	CSE ALBANY LLC
	 	CSE AMARILLO LLC
	 	CSE ARDEN L.P.
	 	CSE AUGUSTA LLC
	 	CSE BEDFORD LLC
	 	CSE BLOUNTVILLE LLC
	 	CSE BOLIVAR LLC
	 	CSE CAMBRIDGE LLC
	 	CSE CAMBRIDGE REALTY LLC
	 	CSE CAMDEN LLC
	 	CSE CANTON LLC
	 	CSE CASABLANCA HOLDINGS II LLC
	 	CSE CASABLANCA HOLDINGS LLC,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: 	Robert O. Stephenson
	 	 	Title:	Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	CSE CEDAR RAPIDS LLC
	 	CSE CENTENNIAL VILLAGE, LP
	 	CSE CHELMSFORD LLC
	 	CSE CHESTERTON LLC
	 	CSE CLAREMONT LLC
	 	CSE CORPUS NORTH LLC
	 	CSE DENVER ILIFF LLC
	 	CSE DENVER LLC
	 	CSE DOUGLAS LLC
	 	CSE ELKTON LLC
	 	CSE ELKTON REALTY LLC
	 	CSE FAIRHAVEN LLC
	 	CSE FORT WAYNE LLC
	 	CSE FRANKSTON LLC
	 	CSE GEORGETOWN LLC
	 	CSE GREEN BAY LLC
	 	CSE HILLIARD LLC
	 	CSE HUNTINGDON LLC
	 	CSE HUNTSVILLE LLC
	 	CSE INDIANAPOLIS-CONTINENTAL LLC
	 	CSE INDIANAPOLIS-GREENBRIAR LLC
	 	CSE JACINTO CITY LLC
	 	CSE JEFFERSON CITY LLC
	 	CSE JEFFERSONVILLE-HILLCREST CENTER LLC
	 	CSE JEFFERSONVILLE-JENNINGS HOUSE LLC
	 	CSE KERRVILLE LLC
	 	CSE KING L.P.
	 	CSE KINGSPORT LLC
	 	CSE KNIGHTDALE L.P.
	 	CSE LAKE CITY LLC
	 	CSE LAKE WORTH LLC
	 	CSE LAKEWOOD LLC
	 	CSE LAS VEGAS LLC
	 	CSE LAWRENCEBURG LLC
	 	CSE LENOIR L.P.,
	 	as Subsidiary Guarantors
	 	 





	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	CSE LEXINGTON PARK LLC
	 	CSE LEXINGTON PARK REALTY LLC
	 	CSE LIGONIER LLC
	 	CSE LIVE OAK LLC
	 	CSE LOWELL LLC
	 	CSE MARIANNA HOLDINGS LLC
	 	CSE MEMPHIS LLC
	 	CSE MOBILE LLC
	 	CSE MOORE LLC
	 	CSE NORTH CAROLINA HOLDINGS I LLC
	 	CSE NORTH CAROLINA HOLDINGS II LLC
	 	CSE OMRO LLC
	 	CSE ORANGE PARK LLC
	 	CSE ORLANDO-PINAR TERRACE MANOR LLC
	 	CSE ORLANDO-TERRA VISTA REHAB LLC
	 	CSE PENNSYLVANIA HOLDINGS, LP
	 	CSE PIGGOTT LLC
	 	CSE PILOT POINT LLC
	 	CSE PINE VIEW LLC
	 	CSE PONCA CITY LLC
	 	CSE PORT ST. LUCIE LLC
	 	CSE RICHMOND LLC
	 	CSE RIPLEY LLC
	 	CSE RIPON LLC
	 	CSE SAFFORD LLC
	 	CSE SALINA LLC
	 	CSE SEMINOLE LLC
	 	CSE SHAWNEE LLC
	 	CSE SPRING BRANCH LLC
	 	CSE STILLWATER LLC
	 	CSE TAYLORSVILLE LLC
	 	CSE TEXARKANA LLC
	 	CSE TEXAS CITY LLC
	 	CSE THE VILLAGE LLC
	 	CSE UPLAND LLC,
	 	as Subsidiary Guarantors
	 	 





	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	CSE WALNUT COVE L.P.
	 	CSE WEST POINT LLC
	 	CSE WHITEHOUSE LLC
	 	CSE WILLIAMSPORT LLC
	 	CSE WINTER HAVEN LLC
	 	CSE WOODFIN L.P.
	 	CSE YORKTOWN LLC
	 	DELTA INVESTORS I, LLC
	 	DELTA INVESTORS II, LLC
	 	DESERT LANE LLC
	 	DIXIE WHITE HOUSE NURSING HOME, LLC
	 	DIXON HEALTH CARE CENTER, LLC 
	 	ENCANTO SENIOR CARE, LLC
	 	FLORIDA LESSOR – MEADOWVIEW, LLC
	 	FLORIDA REAL ESTATE COMPANY, LLC
	 	GEORGIA LESSOR - BONTERRA/PARKVIEW, LLC
	 	GOLDEN HILL REAL ESTATE COMPANY, LLC
	 	GREENBOUGH, LLC
	 	HOT SPRINGS ATRIUM OWNER, LLC 
	 	HOT SPRINGS COTTAGES OWNER, LLC 
	 	HOT SPRINGS MARINA OWNER, LLC 
	 	HUTTON I LAND, INC. 
	 	HUTTON II LAND, LLC 
	 	HUTTON III LAND, LLC 
	 	INDIANA LESSOR – WELLINGTON MANOR, LLC
	 	LAD I REAL ESTATE COMPANY, LLC
	 	LEATHERMAN 90-1, LLC
	 	LEATHERMAN PARTNERSHIP 89-1, LLC 
	 	LEATHERMAN PARTNERSHIP 89-2, LLC 
	 	MERIDIAN ARMS LAND, LLC 
	 	NORTH LAS VEGAS LLC
	 	NRS VENTURES, L.L.C.
	 	OCEAN SPRINGS NURSING HOME, LLC
	 	OHI (CONNECTICUT), LLC 
	 	OHI (ILLINOIS) HOLDING, LLC,
	 	as Subsidiary Guarantors
	 	 





	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	OHI (ILLINOIS), INC.
	 	OHI (INDIANA), LLC 
	 	OHI (IOWA), LLC 
	 	OHI ASSET (AR) ASH FLAT, LLC
	 	OHI ASSET (AR) CAMDEN, LLC
	 	OHI ASSET (AR) CONWAY, LLC
	 	OHI ASSET (AR) DES ARC, LLC
	 	OHI ASSET (AR) HOT SPRINGS, LLC
	 	OHI ASSET (AR) MALVERN, LLC
	 	OHI ASSET (AR) MENA, LLC
	 	OHI ASSET (AR) POCAHONTAS, LLC
	 	OHI ASSET (AR) SHERIDAN, LLC
	 	OHI ASSET (AR) WALNUT RIDGE, LLC
	 	OHI ASSET (AZ) AUSTIN HOUSE, LLC
	 	OHI ASSET (CA), LLC
	 	OHI ASSET (CO), LLC
	 	OHI ASSET (CT) LENDER, LLC
	 	OHI ASSET (FL) LAKE PLACID, LLC
	 	OHI ASSET (FL) LENDER, LLC
	 	OHI ASSET (FL), LLC
	 	OHI ASSET (GA) MACON, LLC
	 	OHI ASSET (GA) MOULTRIE, LLC
	 	OHI ASSET (GA) SNELLVILLE, LLC
	 	OHI ASSET (ID) HOLLY, LLC
	 	OHI ASSET (ID) MIDLAND, LLC
	 	OHI ASSET (ID), LLC
	 	OHI ASSET (IL), LLC
	 	OHI ASSET (IN) AMERICAN VILLAGE, LLC
	 	OHI ASSET (IN) ANDERSON, LLC
	 	OHI ASSET (IN) BEECH GROVE, LLC
	 	OHI ASSET (IN) CLARKSVILLE, LLC
	 	OHI ASSET (IN) CLINTON, LLC
	 	OHI ASSET (IN) CONNERSVILLE, LLC
	 	OHI ASSET (IN) CROWN POINT, LLC
	 	OHI ASSET (IN) EAGLE VALLEY, LLC,
	 	as Subsidiary Guarantors
	 	 





	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	OHI ASSET (IN) ELKHART, LLC
	 	OHI ASSET (IN) FOREST CREEK, LLC
	 	OHI ASSET (IN) FORT WAYNE, LLC
	 	OHI ASSET (IN) FRANKLIN, LLC
	 	OHI ASSET (IN) GREENSBURG, LLC
	 	OHI ASSET (IN) INDIANAPOLIS, LLC
	 	OHI ASSET (IN) JASPER, LLC
	 	OHI ASSET (IN) KOKOMO, LLC
	 	OHI ASSET (IN) LAFAYETTE, LLC
	 	OHI ASSET (IN) MADISON, LLC
	 	OHI ASSET (IN) MONTICELLO, LLC
	 	OHI ASSET (IN) NOBLESVILLE, LLC
	 	OHI ASSET (IN) ROSEWALK, LLC
	 	OHI ASSET (IN) SALEM, LLC
	 	OHI ASSET (IN) SEYMOUR, LLC
	 	OHI ASSET (IN) SPRING MILL, LLC
	 	OHI ASSET (IN) TERRE HAUTE, LLC
	 	OHI ASSET (IN) WABASH, LLC
	 	OHI ASSET (IN) WESTFIELD, LLC
	 	OHI ASSET (IN) ZIONSVILLE, LLC
	 	OHI ASSET (LA), LLC
	 	OHI ASSET (MD), LLC
	 	OHI ASSET (MI) HEATHER HILLS, LLC
	 	OHI ASSET (MI), LLC
	 	OHI ASSET (MO), LLC
	 	OHI ASSET (MS) BYHALIA, LLC
	 	OHI ASSET (MS) CLEVELAND, LLC
	 	OHI ASSET (MS) CLINTON, LLC
	 	OHI ASSET (MS) COLUMBIA, LLC
	 	OHI ASSET (MS) CORINTH, LLC
	 	OHI ASSET (MS) GREENWOOD, LLC
	 	OHI ASSET (MS) GRENADA, LLC
	 	OHI ASSET (MS) HOLLY SPRINGS, LLC
	 	OHI ASSET (MS) INDIANOLA, LLC
	 	OHI ASSET (MS) NATCHEZ, LLC,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	OHI ASSET (MS) PICAYUNE, LLC
	 	OHI ASSET (MS) VICKSBURG, LLC
	 	OHI ASSET (MS) YAZOO CITY, LLC
	 	OHI ASSET (NC) WADESBORO, LLC
	 	OHI ASSET (OH) LENDER, LLC
	 	OHI ASSET (OH), LLC
	 	OHI ASSET (OR) PORTLAND, LLC
	 	OHI ASSET (OR) TROUTDALE, LLC 
	 	OHI ASSET (PA) GP, LLC 
	 	OHI ASSET (PA), LP
	 	OHI ASSET (PA) WEST MIFFLIN, LP 
	 	OHI ASSET (PA), LLC
	 	OHI ASSET (SC) AIKEN, LLC
	 	OHI ASSET (SC) ANDERSON, LLC
	 	OHI ASSET (SC) EASLEY ANNE, LLC
	 	OHI ASSET (SC) EASLEY CRESTVIEW, LLC
	 	OHI ASSET (SC) EDGEFIELD, LLC
	 	OHI ASSET (SC) GREENVILLE GRIFFITH, LLC
	 	OHI ASSET (SC) GREENVILLE LAURENS, LLC
	 	OHI ASSET (SC) GREENVILLE NORTH, LLC
	 	OHI ASSET (SC) GREENVILLE, LLC 
	 	OHI ASSET (SC) GREER, LLC
	 	OHI ASSET (SC) MARIETTA, LLC
	 	OHI ASSET (SC) MCCORMICK, LLC
	 	OHI ASSET (SC) ORANGEBURG, LLC
	 	OHI ASSET (SC) PICKENS EAST CEDAR, LLC
	 	OHI ASSET (SC) PICKENS ROSEMOND, LLC
	 	OHI ASSET (SC) PIEDMONT, LLC
	 	OHI ASSET (SC) SIMPSONVILLE SE MAIN, LLC
	 	OHI ASSET (SC) SIMPSONVILLE WEST BROAD, LLC
	 	OHI ASSET (SC) SIMPSONVILLE WEST CURTIS, LLC
	 	OHI ASSET (TN) BARTLETT, LLC
	 	OHI ASSET (TN) COLLIERVILLE, LLC
	 	OHI ASSET (TN) JEFFERSON CITY, LLC 
	 	OHI ASSET (TN) MEMPHIS, LLC
	 	OHI ASSET (TN) ROGERSVILLE, LLC,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

  


	 	OHI ASSET (TX) ANDERSON, LLC
	 	OHI ASSET (TX) BRYAN, LLC
	 	OHI ASSET (TX) BURLESON, LLC
	 	OHI ASSET (TX) COLLEGE STATION, LLC
	 	OHI ASSET (TX) COMFORT, LLC
	 	OHI ASSET (TX) DIBOLL, LLC
	 	OHI ASSET (TX) GRANBURY, LLC
	 	OHI ASSET (TX) HONDO, LLC
	 	OHI ASSET (TX) ITALY, LLC
	 	OHI ASSET (TX) WINNSBORO, LLC
	 	OHI ASSET (TX), LLC
	 	OHI ASSET (UT) OGDEN, LLC
	 	OHI ASSET (UT) PROVO, LLC
	 	OHI ASSET (UT) ROY, LLC
	 	OHI ASSET (VA) CHARLOTTESVILLE, LLC
	 	OHI ASSET (VA) FARMVILLE, LLC
	 	OHI ASSET (VA) HILLSVILLE, LLC
	 	OHI ASSET (VA) ROCKY MOUNT, LLC
	 	OHI ASSET (WA) BATTLE GROUND, LLC
	 	OHI ASSET (WV) DANVILLE, LLC
	 	OHI ASSET (WV) IVYDALE, LLC
	 	OHI ASSET CHG ALF, LLC 
	 	OHI ASSET CSB LLC
	 	OHI ASSET CSE – E, LLC
	 	OHI ASSET CSE – U, LLC
	 	OHI ASSET CSE–E SUBSIDIARY, LLC 
	 	OHI ASSET CSE–U SUBSIDIARY, LLC
	 	OHI ASSET HUD CFG, LLC
	 	OHI ASSET HUD DELTA, LLC
	 	OHI ASSET HUD SF CA, LLC
	 	OHI ASSET HUD SF, LLC
	 	OHI ASSET HUD WO, LLC
	 	OHI ASSET II (CA), LLC
	 	OHI ASSET II (FL), LLC
	 	OHI ASSET II (PA), LP
	 	OHI ASSET III (PA), LP,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	OHI ASSET IV (PA) SILVER LAKE TRUST
	 	OHI ASSET MANAGEMENT, LLC
	 	OHI ASSET RO PMM SERVICES, LLC
	 	OHI ASSET RO, LLC
	 	OHI ASSET, LLC
	 	OHI HEALTHCARE PROPERTIES HOLDCO, INC.
	 	OHI HEALTHCARE PROPERTIES LIMITED PARTNERSHIP
	 	OHI MEZZ LENDER, LLC
	 	OHI TENNESSEE, INC.
	 	OHIMA, LLC 
	 	OMEGA TRS I, INC.
	 	ORANGE VILLAGE CARE CENTER, LLC
	 	PANAMA CITY NURSING CENTER LLC
	 	PAVILLION NORTH PARTNERS, LLC
	 	PAVILLION NORTH, LLP
	 	PAVILLION NURSING CENTER NORTH, LLC
	 	PENSACOLA REAL ESTATE HOLDINGS I, LLC
	 	PENSACOLA REAL ESTATE HOLDINGS II, LLC
	 	PENSACOLA REAL ESTATE HOLDINGS III, LLC
	 	PENSACOLA REAL ESTATE HOLDINGS IV, LLC
	 	PENSACOLA REAL ESTATE HOLDINGS V, LLC
	 	PV REALTY–WILLOW TREE, LLC
	 	SKYLER BOYINGTON, LLC
	 	SKYLER FLORIDA, LLC
	 	SKYLER MAITLAND LLC
	 	SKYLER PENSACOLA, LLC
	 	ST. MARY’S PROPERTIES, LLC
	 	STERLING ACQUISITION, LLC
	 	SUWANEE, LLC
	 	TEXAS LESSOR – STONEGATE GP, LLC,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


	 	TEXAS LESSOR – STONEGATE, LIMITED, LLC
	 	TEXAS LESSOR – STONEGATE, LP
	 	THE SUBURBAN PAVILION, INC.
	 	WASHINGTON LESSOR – SILVERDALE, LLC
	 	WILCARE, LLC,
	 	as Subsidiary Guarantors


 


	 	By:	/s/ Robert O. Stephenson
	 	 	Name: Robert O. Stephenson
	 	 	Title:   Chief Financial Officer and Treasurer


 




    	 



    	 



    

 


The foregoing Agreement is hereby confirmed


and accepted
as of the date


first above written.


 


	J.P. Morgan Securities LLC
	Merrill Lynch, Pierce, Fenner & Smith Incorporated
	Credit Agricole Securities (USA) Inc.
	RBC Capital Markets, LLC
	Stifel, Nicolaus & Company, Incorporated
	Morgan Stanley & Co. LLC
	Capital One Securities, Inc.
	SunTrust Robinson Humphrey, Inc.
	Mitsubishi UFJ Securities (USA), Inc.
	Wells Fargo Securities, LLC
	BBVA Securities Inc.
	BB&T Capital Markets, a division of BB&T Securities, LLC
	SMBC Nikko Securities America, Inc.


 


	J.P. MORGAN SECURITIES LLC	 
	 	Acting on behalf of itself

and as a Representative of

the several Initial Purchasers	 
	 	 	 	 
	By:	J.P. MORGAN SECURITIES LLC	 
	 	 	 
	By:	/s/ Stephen L. Sheiner	 
	 	Name:	Stephen L. Sheiner	 
	 	Title:	Executive Director	 


 




    	 



    	 



    

 


	MERRILL LYNCH, PIERCE, FENNER & SMITH	 
	INCORPORATED	 
	 	 	 
	 	Acting on behalf of itself	 
	 	and as a Representative of	 
	 	the several Initial Purchasers	 


 


	By:	MERRILL LYNCH, PIERCE, FENNER & SMITH
	 	INCORPORATED	 


 


	By:	/s/ Andrew Karp	 
	 	Name:	Andrew Karp	 
	 	Title:	Managing Director	 


 




    	 



    	 



    

 


CREDIT AGRICOLE SECURITIES (USA) INC.


 


	 	Acting on behalf of itself
	 	and as a Representative of
	 	the several Initial Purchasers


 


	By:	CREDIT AGRICOLE SECURITIES (USA) INC.
	 	 	 
	By:	/s/ Paul Brown	 
	 	Name:	Paul Brown	 
	 	Title:	M.D.	 


 




    	 



    	 



    

 


RBC CAPITAL MARKETS, LLC


 


	 	Acting on behalf of itself
	 	and as a Representative of
	 	the several Initial Purchasers


 


	By:	RBC CAPITAL MARKETS, LLC



 


	By:	/s/ Paul Nagle	 
	 	Name:	Paul Nagle	 
	 	Title:	Managing Director	 


 




    	 



    	 



    

 


EXHIBIT A


 


PLAN OF DISTRIBUTION


 


Each Participating Broker-Dealer that receives
Exchange Notes for its own account pursuant to the Exchange Offer must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Notes during the Applicable Period.  This Prospectus, as it may be amended or supplemented
from time to time, may be used by a Participating Broker-Dealer in connection with resales of Exchange Notes received in exchange
for Notes where such Notes were acquired as a result of market-making activities or other trading activities.  The Company
has agreed that, during the Applicable Period, it will make this Prospectus, as amended or supplemented, available to any Participating
Broker-Dealer for use in connection with any such resale.  In addition, until ____________, all dealers effecting transactions
in the Exchange Notes may be required to deliver a prospectus.


 


The Company will not receive any proceeds
from any sale of Exchange Notes by Participating Broker-Dealers.  Exchange Notes received by Participating Broker-Dealers
for their own account pursuant to the Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter
market, in negotiated transactions, through the writing of options on the Exchange Notes or a combination of such methods of resale,
at market prices prevailing at the time of resale, at prices related to such prevailing market prices or negotiated prices.  Any
such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of
commissions or concessions from any such Participating Broker-Dealer and/or the purchasers of any such Exchange Notes.  Any
Participating Broker-Dealer that resells Exchange Notes that were received by it for its own account pursuant to the Exchange Offer
and any broker or dealer that participates in a distribution of such Exchange Notes may be deemed to be an “underwriter”
within the meaning of the Act and any profit from any such resale of Exchange Notes and any commissions or concessions received
by any such persons may be deemed to be underwriting compensation under the Act.  The letter of transmittal states that
by acknowledging that it will deliver and by delivering a prospectus, a Participating Broker-Dealer will not be deemed to admit
that it is an “underwriter” within the meaning of the Act.


 


During the Applicable Period, the Company
will promptly send additional copies of this Prospectus and any amendment or supplement to this Prospectus to any Participating
Broker-Dealer that requests such documents in the letter of transmittal.  The Company has agreed to pay all expenses
incident to the Exchange Offer other than dealers’ and brokers’ discounts, commissions and counsel fees and will indemnify
the holders of the Notes (including any Participating Broker-Dealer) against certain liabilities, including liabilities under the
Act.


 


[If applicable, add information required by
Regulation S-K Items 507 and/or 508.]


 








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